<SEC-DOCUMENT>0001753926-24-000105.txt : 20240116
<SEC-HEADER>0001753926-24-000105.hdr.sgml : 20240116
<ACCEPTANCE-DATETIME>20240116172802
ACCESSION NUMBER:		0001753926-24-000105
CONFORMED SUBMISSION TYPE:	S-1/A
PUBLIC DOCUMENT COUNT:		16
FILED AS OF DATE:		20240116
DATE AS OF CHANGE:		20240116

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Chromocell Therapeutics Corp
		CENTRAL INDEX KEY:			0001919246
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		ORGANIZATION NAME:           	03 Life Sciences
		IRS NUMBER:				863335449
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-1/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-269188
		FILM NUMBER:		24536154

	BUSINESS ADDRESS:	
		STREET 1:		685 US HIGHWAY ONE
		CITY:			NORTH BRUNSWICK
		STATE:			NJ
		ZIP:			08902
		BUSINESS PHONE:		9176446313

	MAIL ADDRESS:	
		STREET 1:		685 US HIGHWAY ONE
		CITY:			NORTH BRUNSWICK
		STATE:			NJ
		ZIP:			08902
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-1/A
<SEQUENCE>1
<FILENAME>g083881_s1a.htm
<DESCRIPTION>S-1/A
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>As filed with the Securities and
Exchange Commission on January 16, 2024</B> </P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Registration















No.&nbsp;333-269188</b></font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&nbsp;</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b></b></font></p>































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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 16pt"><b>UNITED















STATES</b>&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 16pt"><b>SECURITIES















AND EXCHANGE COMMISSION</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Washington,















D.C. 20549</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><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: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></font></p>































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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt"><B>Amendment
No. 9 to</B></FONT> <br>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt"><B>FORM S-1</B>&nbsp;</FONT></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 16pt"><b>REGISTRATION















STATEMENT</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>under</i></b>&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The















Securities Act of 1933</i></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p>































































































<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>































<!-- Field: Rule-Page --><div align="LEFT" style="margin-top: 3pt; margin-bottom: 3pt"><div style="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</div></div><!-- Field: /Rule-Page -->































<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 20pt"><b>CHROMOCELL















THERAPEUTICS CORPORATION</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Exact















name of registrant as specified in its charter)</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">















<tr>















    <td style="width: 36%; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <td style="width: 32%; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <td style="width: 32%; font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td></tr>















<tr style="vertical-align: top">















    <td style="font-size: 10pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Delaware</b></font></td>















    <td style="font-size: 10pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2836</b></font></td>















    <td style="font-size: 10pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>86-3335449</b></font></td></tr>















<tr style="vertical-align: top">















    <td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(State















or other jurisdiction of&nbsp;</b></font></p>















        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>incorporation















or organization)</b>&nbsp;</font></p></td>















    <td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Primary















Standard Industrial&nbsp;</b></font></p>















        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Classification















Code Number)&nbsp;</b></font></p></td>















    <td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(I.R.S.















Employer&nbsp;</b></font></p>















        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Identification















Number)</b>&nbsp;</font></p></td></tr>















</table>















































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>4400 Route 9 South, Suite 1000</b><br>















<b>Freehold, NJ 07728</b><br>















<b>732-514-2636</b></p>































































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Address,















including zip code, and telephone number, including area code, of registrant&rsquo;s principal executive offices)</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><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: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></font></p>































<!-- Field: Rule-Page --><div align="LEFT" style="margin-top: 3pt; margin-bottom: 3pt"><div style="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</div></div><!-- Field: /Rule-Page -->































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p>































































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Interim Chief Executive Officer and







</B><BR>







<B>Chief Financial Officer, Treasurer and Secretary<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></B></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>4400 Route 9 South, Suite 1000</B><BR>















<B>Freehold, NJ 07728</B>&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Tel. No.: 732-514-2636</B></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name, address, including zip code, and















telephone number, including area code, of agent for service)</B></P>































































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><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: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></font></p>































<!-- Field: Rule-Page --><div align="LEFT" style="margin-top: 3pt; margin-bottom: 3pt"><div style="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</div></div><!-- Field: /Rule-Page -->































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>Copies















to:</i></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><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: 0pt 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>David
                                         E. Danovitch, Esq.</B></FONT> </P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Aaron
        M. Schleicher, Esq.</B></FONT> </P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Sullivan
        &amp; Worcester LLP</B></FONT> </P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1633
        Broadway</B></FONT> </P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>New
        York, NY 10019</B></FONT> </P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(212)
        660-3060</B></FONT> </P>
        </TD>
    <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Thomas
                                         J. Poletti, Esq.</B></FONT> </P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Veronica
        Lah, Esq.</B></FONT> </P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Manatt,
        Phelps &amp; Phillips, LLP</B></FONT> </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>695 </B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Town
        Center Drive, 14th Floor</B></FONT> </P>

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Costa
        Mesa, CA 92626</B></FONT><BR>
        <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(714) 371-2500</B></FONT> </P>
        </TD></TR>
</TABLE>















































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</font>&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>































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















date of commencement of proposed sale to the public</b>: As soon as practicable after this registration statement becomes effective.</font></p>































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















any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule&nbsp;415















under the Securities Act of 1933 check the following box:&nbsp;&nbsp;&#9746;</font></p>































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















this Form is filed to register additional securities for an offering pursuant to Rule&nbsp;462(b) under the Securities Act, please















check the following box and list the Securities Act registration statement number of the earlier effective registration statement















for the same offering.&nbsp;&nbsp;&nbsp;&#9744;</font></p>































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















this Form is a post-effective amendment filed pursuant to Rule&nbsp;462(c) under the Securities Act, check the following box and















list the Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;&nbsp;&#9744;</font></p>































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















this Form is a post-effective amendment filed pursuant to Rule&nbsp;462(d) under the Securities Act, check the following box and















list the Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;&nbsp;&#9744;</font></p>































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















by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting















company or an emerging growth company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo;















&ldquo;smaller reporting company,&rdquo; and &ldquo;emerging growth company&rdquo; in Rule&nbsp;12b-2 of the Exchange Act.</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">















<tr>















    <td style="width: 19%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <td style="width: 57%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <td style="width: 23%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <td style="width: 1%"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td></tr>















<tr style="vertical-align: bottom">















    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large&nbsp;accelerated&nbsp;filer</font></td>















    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</font></td>















    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated&nbsp;filer</font></td>















    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</font></td></tr>















<tr style="vertical-align: bottom">















    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated filer</font></td>















    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</font></td>















    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller&nbsp;reporting&nbsp;company</font></td>















    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</font></td></tr>















<tr style="vertical-align: bottom">















    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth&nbsp;company</font></td>















    <td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</font></td></tr>















</table>















<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 7(a)(2)(B) of the Exchange Act.















&#9744;</font></p>































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















registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until















the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become















effective in accordance with Section&nbsp;8(a) of the Securities Act of 1933 or until the registration statement shall become















effective on such date as the Securities and Exchange Commission, acting pursuant to said Section&nbsp;8(a), may determine.</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>















































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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>EXPLANATORY















NOTE</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> This registration statement contains
disclosure that will be circulated as two separate final prospectuses: (i) a prospectus (the &ldquo;IPO Prospectus&rdquo;) to
be used in connection with the initial public offering by Chromocell Therapeutics Corporation (the &ldquo;Company&rdquo;) of 1,038,674
shares (the &ldquo;IPO Shares&rdquo;), of common stock, par value $0.0001 per share (the &ldquo;Common Stock&rdquo;), of the Company
being registered for sale by the Company (the &ldquo;IPO&rdquo;) through the underwriters named on the cover page of the IPO Prospectus,
and (ii) a prospectus (the &ldquo;Resale Prospectus&rdquo;) to be used in connection with the offer and potential resale by selling
stockholders identified in this registration statement (the &ldquo;Selling Stockholders&rdquo;) of up to 2,909,353 shares of Common
Stock (the &ldquo;Selling Stockholder Shares&rdquo;). The disclosure to be included in the IPO Prospectus and the Resale Prospectus
is contained in the prospectus included in this registration statement, as amended to date, of which each of the IPO Prospectus
and Resale Prospectus will form a part. The IPO Prospectus and the Resale Prospectus will be substantively identical in all respects
except for the following principal points: </P>



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

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



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">they
    will contain different outside and inside front cover pages; among other things, the identification of the underwriters and
    related compensation for the IPO Shares will only be included in the IPO Prospectus and the Selling Stockholder Shares will
    be listed on the outside and inside front covers of the Resale Prospectus without identification of the underwriters and related
    compensation information;</FONT> </TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">they
    will contain different offering summary subsections in the Prospectus Summary section relating to the offering of the IPO Shares
    and the Selling Stockholder Shares, as applicable; such offering summary subsection included in the IPO Prospectus will
    summarize the offering of the IPO Shares and such offering summary subsection included in the Resale Prospectus will summarize
    the offering of the Selling Stockholder Shares;</FONT> </TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">they
    will contain different Use of Proceeds disclosure, with the Use of Proceeds section included in the Resale Prospectus only
    indicating that the Company will not receive any proceeds from the sale of the Selling Stockholder Shares by the Selling
    Stockholders that occur pursuant to the registration statement of which the Resale Prospectus forms a part;</FONT> </TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the Capitalization
    and Dilution sections will not be included in the Resale Prospectus;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the
    Selling Stockholder and Plan of Distribution sections will be included only in the Resale Prospectus;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the Underwriting
    section from the IPO Prospectus will not be included in the Resale Prospectus; and</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    Legal Matters section in the Resale Prospectus will not include a reference to counsel for the underwriters.</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">&nbsp;<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-top: 0pt; margin-bottom: 0pt; text-align: justify">The Company has included in this registration















statement, after the IPO Prospectus cover page, a set of alternate front and back cover pages to reflect the differences between















the cover pages of the Resale Prospectus as compared to the cover pages of the IPO Prospectus.</P>































































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































































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































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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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















































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















information in this preliminary prospectus is not complete and may be changed. We may not sell these securities until the registration















statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell















these securities and we are not soliciting offers to buy these securities in any jurisdiction where the offer or sale is not permitted.</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red"><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-top: 0pt; text-align: left; margin-bottom: 0pt; color: red"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Prospectus </font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt; color: red"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: red"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: red"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14.1pt; text-align: center; color: red"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14.1pt; text-align: center; color: red"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14.1pt; text-align: center; color: red"></P>















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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: red"> SUBJECT TO COMPLETION, DATED
JANUARY 16, 2024 </P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14.1pt; text-align: center; color: red"></P>































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="img001_v1.jpg" ALT=""></P>































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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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-top: 0pt; margin-bottom: 0pt; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1,038,674  SHARES OF COMMON STOCK</B></FONT> </P>


















































































































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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>51,933 SHARES OF COMMON STOCK UNDERLYING
THE REPRESENTATIVE&rsquo;S WARRANTS<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></B> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> This is the initial public offering
by Chromocell Therapeutics Corporation (&ldquo;Chromocell&rdquo;, the &ldquo;Company&rdquo;, &ldquo;we&rdquo;, &ldquo;us&rdquo;
or &ldquo;our&rdquo;). We are registering on the registration statement of which this prospectus forms a part a total of 3,948,027
shares of our common stock, par value $0.0001 per share (&ldquo;Common Stock&rdquo;), consisting of: (i) 1,038,674 shares (the
&ldquo;IPO Shares&rdquo;) for sale by the Company (the &ldquo;IPO&rdquo;) through the underwriters named on the cover page of
this prospectus (the &ldquo;IPO Prospectus&rdquo;) and (ii) 2,909,353 shares (the &ldquo;Selling Stockholder Shares&rdquo;) of
Common Stock on behalf of certain selling stockholders (the &ldquo;Selling Stockholders&rdquo;) identified in a separate prospectus
(the &ldquo;Resale Prospectus&rdquo;), which Selling Stockholder Shares may be resold by such Selling Stockholders from time to
time. In addition, we are also registering shares of Common Stock underlying the Representative&rsquo;s Warrants (discussed below). </P>

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

<P STYLE="margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The offering of the IPO Shares is being
made on a firm commitment basis with an assumed initial public offering price of $6.00 per share. We anticipate that the initial
public offering price of the IPO Shares offered hereby will be between $5.50 and $6.50&nbsp;per IPO Share, assuming a 1-for-9
reverse stock split (the &ldquo;Reverse Stock Split&rdquo;) of our outstanding shares of Common Stock. Unless specifically provided
otherwise herein, share numbers and prices above and used elsewhere assume the effectiveness of the Reverse Stock Split. The number
of shares of Common Stock offered pursuant to this prospectus and all other applicable information, other than in the historical
financial statements and related notes included elsewhere in this prospectus, or as otherwise noted, has been determined based
on such assumed initial public offering price, which is the midpoint of such range. The actual initial public offering price of
the IPO Shares offered hereby will be determined between the underwriters and us at the time of pricing, considering our historical
performance and capital structure, prevailing market conditions, and overall assessment of our business. Therefore, the assumed
initial public offering price per IPO Share used throughout this prospectus may not be indicative of the actual initial public
offering price for the IPO Shares. </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The offering of the IPO Shares includes
an aggregate of (i) $557,036 in shares at the public offering price per IPO Share directly to a lender holding a promissory note
in the aggregate principal amount of $450,000 and accrued interest of approximately $107,036 (the &ldquo;Investor Note&rdquo;)
(92,840 shares, assuming an initial public offering price of $6.00 per IPO Share, the midpoint of the price range set forth above,
and including interests calculated to and through January 31, 2024) and (ii) $175,000 in shares at the public offering price per
IPO Share directly to one of our directors holding a promissory note in the aggregate principal amount of $175,000 (the &ldquo;Director
Note&rdquo;) (29,167 shares, assuming an initial public offering price of $6.00 per IPO Share, the midpoint of the price range
set forth above). Such IPO Shares are being offered in the IPO as repayment of the Investor Note and Director Note in full satisfaction
of our obligations thereunder and, accordingly, the amount of net proceeds we receive in the IPO will not increase as a result.
The director is not obligated to accept IPO Shares in the IPO in full (or partial) satisfaction of our obligations under the Director
Note. Accordingly, we may be required to use a portion of the net proceeds received in the IPO to repay the amounts outstanding
under the Director Note, in lieu of issuing IPO Shares to the director. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have applied for the listing of our Common Stock on the NYSE American LLC (&ldquo;NYSE American&rdquo;) under the symbol &ldquo;CHRO&rdquo;.
No assurance can be given that our listing application will be approved or that a trading market will develop. This offering is
contingent upon final approval of our NYSE American listing application. If our listing application is not approved by NYSE American,
we will not be able to consummate the IPO.</FONT> </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> As noted above, the registration statement
of which this prospectus forms a part also registers on behalf of certain Selling Stockholders an aggregate of 2,909,353 Selling
Stockholder Shares to be resold from time to time. The offering of Selling Stockholder Shares by the Selling Stockholders is conditioned
on the closing of the IPO. The Selling Stockholder Shares may be sold at prevailing market prices, prices related to prevailing
market prices or at privately negotiated prices. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;<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: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will not receive any proceeds from the sale of any of the Selling Stockholder Shares sold by the Selling Stockholders. The offering
of the Selling Stockholder Shares by the Selling Stockholders will terminate at the earlier of such time as all of the Selling
Stockholder Shares have been sold pursuant to this registration statement and the date on which it is no longer necessary to maintain
the registration of the Selling Stockholder Shares as a result of such securities being permitted to be offered and resold without
restriction pursuant to the provisions of Rule 144 of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;).</FONT> </P>



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



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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are an emerging growth company as that

term is used in the Jumpstart Our Business Startups Act of 2012 and, as such, have elected to comply with certain reduced public

company reporting requirements for this prospectus and future filings. See &ldquo;Prospectus Summary&thinsp;&mdash;&thinsp;Implications

of Being an Emerging Growth Company and a Smaller Reporting Company.&rdquo;</P>































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































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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Investing in our securities involves

a high degree of risk. You should review carefully the risks and uncertainties described under the heading &ldquo;Risk Factors&rdquo;

beginning on page 9 of this prospectus and under similar headings in any amendments or supplements to this prospectus. Neither

the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or

passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.</B></P>







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































































































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































































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































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































<p style="margin-top: 0; margin-bottom: 0"></P>































<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">















<TR STYLE="vertical-align: bottom">















    <TD>&nbsp;</TD>















    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><I>Per IPO Share</I></FONT> </TD>















    <TD>&nbsp;</TD>















    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><I>Total</I><SUP>(1)</SUP></FONT> </TD>















    <TD>&nbsp;</TD></TR>















<TR STYLE="background-color: rgb(204,238,255)">















    <TD STYLE="vertical-align: top; width: 80%; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt"><B>Initial
    public offering price</B></FONT> </TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 8%; text-align: right">&nbsp;</TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%">&nbsp;</TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 8%; text-align: right">&nbsp;</TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%">&nbsp;</TD></TR>















<TR STYLE="background-color: White">















    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt"><B>Underwriting discounts
    and commissions<SUP>(2)</SUP></B></FONT> </TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">&nbsp;</TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">&nbsp;</TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>















<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <B>Non-accountable expense allowance<SUP>(3)</SUP></B> </TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"> $ </TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"> $ </TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: White">















    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-size: 10pt"><B>Proceeds, before
    expenses, to us</B></FONT> </TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">&nbsp;</TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">&nbsp;</TD>















    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>















</TABLE>















































<P STYLE="margin-top: 0; margin-bottom: 0"></P>































<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</font></td><td><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumes















                                         no exercise of the over-allotment option by the underwriters.</font></td></tr></table>































<p style="margin-top: 0; margin-bottom: 0"></p>































































<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT> </TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
    &ldquo;Underwriting&rdquo; for a description of the compensation payable to the underwriters. The underwriters will not receive
    additional compensation for the sale of IPO Shares in full satisfaction of the Investor Note and Director Note.</FONT> </TD></TR>
</TABLE>















































































<p style="margin-top: 0; margin-bottom: 0"></p>































<p style="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 24px"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Represents a non-accountable expense allowance
    equal to 1% of the gross proceeds of this offering, payable to the underwriters.</FONT></TD></TR>
</TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We have granted the underwriters an option to purchase from us up to an additional 155,801 IPO Shares
within 45 days from the date of the IPO Prospectus solely to cover over-allotments, if any, at the initial public offering price
per IPO Share, less underwriting discounts and commissions. </P>

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

<P STYLE="margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We have agreed to issue to A.G.P./Alliance
Global Partners, as representative of the underwriters or its designees, at the closing of the IPO, warrants to purchase a number
of shares of Common Stock equal to five percent (5%) of the IPO Shares (the &ldquo;Representative&rsquo;s Warrants&rdquo;). The
Representative&rsquo;s Warrants will be exercisable beginning six months from the commencement of sales of IPO Shares registered
on the registration statement of which the IPO prospectus is a part and will expire five years following the commencement of sales
in the IPO. The exercise price of the Representative&rsquo;s Warrants will equal 125% of the public offering price per IPO Share.
See &ldquo;Underwriting.&rdquo; The IPO Prospectus also relates to the Common Stock issuable upon exercise of the Representative&rsquo;s
Warrants. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The underwriters expect to deliver
the IPO Shares to purchasers in New York, New York on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2024. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt"><B>A.G.P.</B></FONT> </p>































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
















<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
date of this prospectus is &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2024</FONT> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































































































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TABLE















OF CONTENTS</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">















<tr style="vertical-align: bottom">















    <td style="width: 95%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </td>















    <td style="border-bottom: black 1pt solid; text-align: center; width: 5%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Page</B></FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a001_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PROSPECTUS
    SUMMARY</FONT></a> </td>















    <td style="vertical-align: bottom; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">i</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a002_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RISK
    FACTORS</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a003_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SPECIAL
    NOTE REGARDING FORWARD-LOOKING STATEMENTS</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a005_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">USE
    OF PROCEEDS</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a006_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DIVIDEND
    POLICY</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">43</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a007_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CAPITALIZATION</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">44</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a008_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DILUTION</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">45</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a009_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MANAGEMENT&rsquo;S
    DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">47</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a010_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BUSINESS</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">54</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a011_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MANAGEMENT</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">78</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a012_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXECUTIVE
    COMPENSATION</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">82</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a013_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CERTAIN
    RELATIONSHIPS AND RELATED PARTY AND OTHER TRANSACTIONS</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">86</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a014_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PRINCIPAL
    STOCKHOLDERS</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">87</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a015_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DESCRIPTION
    OF CAPITAL STOCK</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">88</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a016_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SHARES
    ELIGIBLE FOR FUTURE SALE</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">93</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a017_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MATERIAL
    U.S. FEDERAL INCOME TAX CONSEQUENCES</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">95</FONT> </td>















    </tr>















<tr style="vertical-align: top">















    <td style="padding-left: 10pt; text-indent: -10pt"> <a href="#a023_v1"><FONT STYLE="font-size: 10pt">SELLING STOCKHOLDERS</FONT></a> </td>















    <td style="text-align: center"> 101 </td></tr>















<tr style="vertical-align: top">















    <td style="padding-left: 10pt; text-indent: -10pt"> <a href="#a024_v1"><FONT STYLE="font-size: 10pt">PLAN OF DISTRIBUTION</FONT></a> </td>















    <td style="text-align: center"> <FONT STYLE="font-size: 10pt">102</FONT> </td></tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a018_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">UNDERWRITING</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">105</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a019_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">LEGAL
    MATTERS</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">111</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a020_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXPERTS</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">111</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a021_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHERE
    YOU CAN FIND MORE INFORMATION</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">111</FONT> </td>















    </tr>















<tr>















    <td style="vertical-align: top; padding-left: 10pt; text-indent: -10pt"> <a href="#a022_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">INDEX
    TO FINANCIAL STATEMENTS</FONT></a> </td>















    <td style="vertical-align: top; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-1</FONT> </td>















    </tr>















</table>































<p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>































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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ABOUT















THIS PROSPECTUS</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><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: 0pt 0; text-align: justify">Neither we, the Selling Stockholders















nor the underwriters have authorized anyone to provide you with information or make any representations other than those contained















in this prospectus or in any free writing prospectuses prepared by or on behalf of us or to which we have referred you. We, the















Selling Stockholders and the underwriters take no responsibility for, and provide no assurance as to the reliability of, any other















information that others may give you. This prospectus is an offer to sell only the securities offered hereby, and only under circumstances















and in jurisdictions where it is lawful to do so. You should assume that the information appearing in this prospectus is accurate















as of the date on the front cover of this prospectus only. Our business, financial condition, results of operations and prospects















may have changed since that date.</p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For investors outside the United States:















we, the Selling Stockholders and the underwriters have not done anything that would permit this offering or possession or distribution















of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States. Persons outside















the United States who come into possession of this prospectus must inform themselves about and observe any restrictions relating















to, the offering of the shares of common stock and the distribution of this prospectus outside the United States.</p>































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















for convenience, our trademarks and tradenames referred to in this prospectus and the registration statement of which it forms















a part may appear without the &reg; or &trade; symbols, but such references are not intended to indicate in any way that we will















not assert, to the fullest extent under applicable law, our rights to these trademarks and tradenames.</FONT></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> Information contained in, and that















can be accessed through our website,&nbsp;www.chromocell.com, does not constitute part of this prospectus or the registration















statement of which it forms a part. </p>































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><a name="a004_v1"></a>INDUSTRY















AND MARKET DATA</b></font></p>































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0">We















obtained the industry, statistical and market data in this prospectus from our own internal estimates and research, as well as















from industry and general publications and research, surveys and studies conducted by third parties. In presenting this information,















we have made assumptions based on such data and other similar sources, and on our knowledge of, and our experience to date in,















the potential markets for our compounds. Although we believe the data from these third-party sources is reliable, the industry















in which we operate is subject to a high degree of uncertainty and risk due to a variety of factors, including those described















in the section entitled &ldquo;Risk Factors.&rdquo; These and other factors could cause results to differ materially from those















expressed in the estimates made by third parties and by us.</p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BASIS















OF PRESENTATION</b></font></p>































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































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































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































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















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We were incorporated in Delaware on







March 19, 2021. On August 10, 2022, we entered into that certain Contribution Agreement (the &ldquo;Contribution Agreement&rdquo;)







with Chromocell Corporation, a Delaware corporation (&ldquo;Chromocell Holdings&rdquo;). Pursuant to the Contribution Agreement,







effective July 12, 2022 (the &ldquo;Contribution Date&rdquo;), Chromocell Holdings contributed all assets, liabilities and results







of operations related to Chromocell Holdings&rsquo; therapeutic business, including all patents, pre-clinical and Phase I study







results and data, and trade secrets related to the CC8464 compound, in exchange for the issuance by us of 10,000,000 shares of







Common Stock and (ii) 600,000 shares of Series A Convertible Preferred Stock (the &ldquo;Series A Preferred Stock&rdquo;). Prior







to the Contribution Date, we had only nominal assets and liabilities. Accordingly, the financial statements presented in this







prospectus for periods prior to the Contribution Date have been prepared on a &ldquo;carve-out&rdquo; basis from the financial







statements of Chromocell Holdings to represent our financial position and performance as if it had existed on a stand-alone basis.







The financial statements presented in this prospectus for periods from and after the Contribution Date reflect our financial position







and performance as a stand-alone entity.</p>















































































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































































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































































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































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































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All















of the assets, liabilities and results of operations of the Company as of and for the periods prior to the Contribution Date were















identified based on the assets contributed to the Company from Chromocell Holdings. Management believes the assumptions underlying















the Company&rsquo;s carve-out financial statements are reasonable. Nevertheless, the financial statements may not include all















of the actual expenses that would have been incurred had the Company operated as a standalone company during the periods presented,















and may not reflect the Company&rsquo;s results of operations, financial position and cash flows had the Company operated as a















standalone company during the periods presented. Actual costs that would have been incurred if the Company had operated as a standalone















company would depend on multiple factors, including organizational structure and strategic decisions made in various areas, including















information technology and infrastructure.</font></p>































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































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































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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On August 2, 2023, we entered into
a Side Letter to the Contribution Agreement with Chromocell Holdings (the &ldquo;Holdings Side Letter&rdquo;). Pursuant to the
Holdings Side Letter, upon closing of the IPO: (a) Chromocell Holdings will re-assume all $1.6 million in direct liabilities previously
assumed by the Company in accordance with the Contribution Agreement, (b) Chromocell Holdings will waive the Company&rsquo;s obligations
to make a cash payment in the amount of $0.6 million to Chromocell Holdings, and (c) in consideration thereof, the Company will
issue to Chromocell Holdings 2,600 shares of Series C Convertible Redeemable Preferred Stock of the Company, par value of $0.0001
per share (the &ldquo;Series C Preferred Stock&rdquo;). </P>



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







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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> In connection with the completion of the IPO: (A) we will effect a 1-for-9 reverse stock split with respect
to our Common Stock (the &ldquo;Reverse Stock Split&rdquo;), (B) all 600,000 issued and outstanding shares of our Series A Preferred
Stock will automatically convert into 499,429 shares of Common Stock, (C) $393,808 and accrued interest of approximately $26,836
as of January 31, 2024 outstanding under our senior secured convertible notes issued in the April Bridge Financing (as defined
below), will automatically convert into approximately 87,643 shares of Common Stock, (D) $198,128 and accrued interest of $7,287
as of January 31, 2024 outstanding under our senior secured convertible notes issued in the September Bridge Financing (as defined
below), will automatically convert into approximately 43,350 shares of Common Stock, which includes an additional 551 shares of
Common Stock issuable as consideration for the September Bridge Financing (the &ldquo;Bonus Shares&rdquo;) (assuming, in the case
of (A) through (D) above, an initial public offering price of $6.00 per IPO Share, the midpoint of the price range set forth on
the cover page of the IPO Prospectus), (E) we will issue  37,500 shares of Common Stock to an investor
as consideration for its previous agreement to provide funding that is no longer necessary in connection with the IPO, and (F)
we will affect the transactions contemplated by the Holdings Side Letter, and issue an aggregate of 2,600 shares of Series C Preferred
Stock to Chromocell Holdings pursuant thereto. We refer to these actions as the &ldquo;IPO Transactions.&rdquo; In this prospectus,
we include certain metrics on an &ldquo;as adjusted&rdquo; basis to give effect to the IPO Transactions. </P>



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



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

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















































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<center>















<div style="BORDER:solid BLACK 1PX;padding-left:1%;padding-Right:1%;width:98%">

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="a001_v1"></a>PROSPECTUS















SUMMARY</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>This















summary highlights information contained elsewhere in this prospectus. It may not contain all the information that may be important















to you. You should read the entire prospectus carefully, including the section entitled &ldquo;Risk Factors&rdquo; and our financial















statements and the related notes included elsewhere in this prospectus before making an investment decision to purchase our securities.</i></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>In















this prospectus, unless we indicate otherwise or the context requires, references to the &ldquo;Company,&rdquo; &ldquo;Chromocell,&rdquo;















&ldquo;we,&rdquo; &ldquo;our,&rdquo; &ldquo;ours,&rdquo; and &ldquo;us&rdquo; refer to Chromocell Therapeutics Corporation. The















following summary is qualified in its entirety by the more detailed information and financial statements and notes thereto included















elsewhere in this prospectus.</i></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Our















Business</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Overview</font></p>































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































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are a clinical-stage biotech company















focused on developing and commercializing new therapeutics to alleviate pain. Our clinical focus is to selectively target the















sodium ion-channel known as &ldquo;NaV1.7&rdquo;, as well as other receptors in the NaV family. NaV1.7 has been genetically validated















as a pain receptor in human physiology. Genetic studies have shown that families with a certain inherited NaV1.7 modulation consistently















show a pathology of not feeling pain. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel















in a way to prevent the transmission of pain perception to the central nervous system (&ldquo;CNS&rdquo;). Our goal is to develop















a novel and proprietary class of NaV blockers that target the body&rsquo;s peripheral nervous system, initially for Erythromelalgia















(&ldquo;EM&rdquo;), a rare condition that primarily affects the feet and, less commonly, the hands (extremities). It is characterized















by intense, burning pain of affected extremities, severe redness (erythema), and increased skin temperature that may be episodic















or almost continuous in nature.</p>































































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































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































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">According















to Mordor Intelligence, the global pain management market was valued at approximately $67 billion in 2021, and it is expected















to have revenues of $89 billion in 2027, with a compound annual growth rate (&ldquo;CAGR&rdquo;) of 4.65% over the forecast period.















Also, according to Mordor Intelligence, the United States has the largest market for pain management pharmaceuticals and Asia-Pacific















is the region showing the strongest growth. North America holds the largest share in the pain management market, with the United















States being the most significant contributor to its revenue. According to data published by the Centers for Disease Control and















Prevention (&ldquo;CDC&rdquo;), in 2019, 20.4% of adults had chronic pain, and 7.4% of adults had chronic pain that had limited















work and daily activities frequently. Additionally, according to the CDC, chronic pain increased with age, and the highest level















was reported in patients aged 65 years and above. The prescription pain management market in the United States is still largely















dominated by opioid analgesics. Opioid analgesics decrease the perception of pain by stimulating a range of opioid receptors that















modulate pain signals. The most widely used opioid analgesics, including morphine, fentanyl and hydromorphone, act primarily through















the activation of mu opioid receptors in the CNS. However, because of the wide distribution of mu opioid receptors throughout















the brain, morphine and other mu opioid analgesics also trigger a characteristic pattern of adverse side effects, in particular















severe abuse and addiction.</font> </p>































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The global pain market reflects total















revenues of drugs mitigating different types of pain, such as backpain, osteoarthritis, post-operative pain and various orphan















diseases with pain symptoms. Our current research is focused on EM; correspondingly, our commercial efforts are targeting the















potential for EM therapeutics within the overall pain market. According to studies quoted by The Erythromelalgia Association,















estimates of the incidence rate for EM vary from 1.3 to 15 per 100,000 persons, reflecting a potential EM patient population up















to 5,000 to 50,000 in the U.S. Our lead compound, CC8464, could possibly have applications in pain mitigation outside of EM, but















neither biological nor clinical studies have provided sufficient data to enable meaningful predictions on the probability of an















expanded range of indications.</p>































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">CC8464 is designed to address both















the underlying condition and mitigate the burning pain symptoms that EM patients experience by blocking the NaV1.7 sodium channel.















Genetic studies presented in the Journal of Clinical Investigation have established a correlation between particular mutation















in the NaV1.7 gene and the occurrence of EM. Based on the correlation between the mutations and frequency of EM occurrence, we















believe CC8464 has the potential to address the underlying condition and mitigate the burning pain symptoms that patients experience.















The chemical characteristics of CC8464 restrict its entry into the CNS and limit its effect to the NaV1.7 receptors in the peripheral















nervous system, which consists of the nerves outside the brain and spinal cord. Activation of other receptors in the CNS can result















in side effects, including addiction and other psychiatric disorders. Since CC8464 is designed to modulate pain signals without















activation of receptors in the CNS, it is not expected to produce psychiatric side effects. Based on its characteristics, preclinical















studies and the Phase 1 study we have completed to date, we believe that our lead compound CC8464, if approved, could become an















attractive option for both patients and physicians as a treatment for moderate-to-severe pain in EM.</p>































<p style="margin: 0pt 0">&nbsp;</p>































<p style="margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></p>































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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
observed certain incidents of rashes during the trial for which we developed a mitigation strategy that involves slower dose escalation,
hospitalization and frequent physical examinations. We have developed a dose escalation study design and expect to launch patient
procurement in early 2024 with expected first patient dosing in the second quarter of 2024. The dose escalation trial will enroll
approximately 32 healthy volunteers who will receive CC8464 over a period of several weeks, with the dose escalation study expected
to take approximately nine months. We anticipate that the slower dose escalation will decrease the likelihood of drug-related
skin reactions. The primary endpoint of the dose escalation trail will be safety and tolerability of the slower dose titration;
however, we will also be measuring blood concentrations of CC8464, which will allow us to better understand the pharmacokinetics
of CC8464.</FONT> </P>



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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We are currently working on the development
of the Phase 2a proof-of-concept plan and expect to launch the Phase 2a proof-of-concept study in 2024 to assess the potential
efficacy of CC8464 in genetically validated EM patients. Though the Phase 2a proof-of-concept study design has not yet been completed,
we expect to launch the study during the fourth quarter of 2024 and expect that the study will take approximately twelve months
after it is initiated. We are anticipating dosing approximately 20 patients diagnosed with genetically validated EM. We will be
using a cross-over design which has the advantage of increasing the study power while keeping the number of patients relatively
low. Each patient will be exposed to both placebo and CC8464 during the two cross-over phases of the trial but neither the investigators
nor the patients will know when they are receiving active drug or placebo. During each dosing period we will induce an EM flare.
The primary endpoint will be the amount of pain experienced during the flare with secondary endpoints including other measurements
like pain relief, time to onset of the flare and neuropathy scores. The final design may change based on feedback from the U.S.
Food and Drug Administration (&ldquo;FDA&rdquo;) or information learned during the dose escalation trial. </P>



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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are evaluating whether to conduct

the dose escalation and proof-of-concept studies outside of the U.S. to take advantage of certain beneficial tax credits or lower

costs. One example is Australia, which has a 43.5% tax credit for clinical expenses incurred in Australia. Data from clinical

trials conducted in Australia is accepted by the FDA.</P>



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



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



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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If approved, we believe that CC8464 could

provide pain and symptom relief for EM patients. CC8464 is currently the only compound that we have advanced into clinical development.&nbsp;</P>



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



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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> In addition, there is scientific evidence
that the NaV1.7 receptor is present on the cornea and may be a viable biological target for treating eye pain. Eye pain may occur
with various conditions, including severe dry eye disease, trauma and surgery. Existing therapies for eye pain (such as steroids,
topical non-steroidal anti-inflammatory agents, lubricants, local anesthetics) are limited in their effectiveness and/or limited
in the duration that they may be prescribed because of safety issues. We  intend to explore the viability of developing CC8464
as a topical agent for the relief of eye pain. A potential advantage of this approach is that topical administration of CC8464
is unlikely to lead to any hypersensitivity or skin reactions, like what was noted with systemic administration of CC8464, because
the systemic absorption from a topical administration would be extremely limited. We have commenced development of a topical ophthalmic
formulation of CC8464 that would initially be utilized for toxicology and in vivo studies and then followed by a proof-of-concept
trial in patients suffering from various conditions, including severe dry eye disease, trauma and surgery. We expect the trials
for this ophthalmic formulation of CC8464 to start in the second quarter of 2024. </P>







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



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may further expand our pipeline with other internal or external compounds in the future, but all other internally discovered compounds
are pre-clinical and no commercial discussions about in-licensing have been initiated to date, other than as disclosed herein
with respect to the licensing of the Diclofenac Spray Formulation, Rizatriptan Spray Formulation and Ondansetron Spray Formulation
(collectively, as defined below, the &ldquo;Spray Formulations&rdquo;).</FONT> </P>



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

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















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































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

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














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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; text-align: justify; margin-bottom: 0pt"> <b>Recent Developments&nbsp;</b> </p>































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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Side Letter Terminating Series B Convertible Preferred Stock
Purchase Agreement</I></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">On
October 11, 2023, we entered into a securities purchase agreement with an institutional investor (the &ldquo;Standby Investor&rdquo;),
pursuant to which (i) the Standby Investor agreed to purchase, upon close of the IPO and at our election, an aggregate of up to
750 shares of Series B Convertible Preferred Stock, par value of $0.0001 per share (the &ldquo;Series B Preferred Stock&rdquo;)
for a purchase price of $1,000 per share, and (ii) in consideration therefor, we would issue upon
close of the IPO, and regardless of whether we would have issued any shares of Series B Preferred Stock, an aggregate of 37,500
shares (such shares, the &ldquo;Standby Shares&rdquo;) of Common
Stock to the Standby Investor (such agreement, the &ldquo;Series B Securities Purchase Agreement&rdquo;). In addition, pursuant
to the Series B Securities Purchase Agreement, we were required to file a registration statement within 180 calendar days after
consummation of the IPO, providing for the resale of the Standby Shares and shares of Common Stock issuable upon conversion of
the Series B Preferred Stock, if issued.</FONT> </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Effective November 13, 2023, we entered
into a side letter with the Standby Investor (the &ldquo;Standby Investor Side Letter&rdquo;), pursuant to which we (i) waived
in full the Standby Investor&rsquo;s obligation to fund the aggregate amount to be paid for the Series B Preferred Stock to be
purchased under the Series B Securities Purchase Agreement and (ii) agreed to continue to have the obligation to issue the full
amount of the Standby Shares upon the closing of the IPO. We and the Standby Investor also agreed to terminate each of our obligations
solely with respect to the Series B Preferred Stock under the Series B Securities Purchase Agreement and that certain Registration
Rights Agreement between us and the Standby Investor, which was required to be delivered pursuant to the Series B Securities Purchase
Agreement. For more information regarding the Series B Securities Purchase Agreement and the Standby Investor Side Letter, please
refer to &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo;.&nbsp; </P>



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

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

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

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

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


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Effective October 10, 2023, we entered
into a side letter with the holder (the &ldquo;Holder&rdquo;) of the Investor Note (the &ldquo;October Investor Note Side Letter&rdquo;
and, collectively, with the June Investor Note Side Letter, the August Investor Note Side Letter and the November Investor Note
Side Letter (each, as defined herein), the &ldquo;Investor Note Side Letters&rdquo;), pursuant to which we (i) amended and restated
the Investor Note to extend the maturity date to November 14, 2023 and (ii) in consideration therefor, issued to such Holder 30,000
shares of Common Stock (3,334 shares, after giving effect to the Reverse Stock Split). The Investor Note provides for the accrual
of interest equal to 2% of the face amount of $450,000 per month ($9,000 per month) and obligates the holder to subscribe for
securities in the IPO in full satisfaction of our repayment obligations under the Investor Note. In addition, pursuant to the
October Investor Note Side Letter, we agreed to register the 30,000 shares of Common Stock (3,334 shares after giving effect to
the Reverse Stock Split), for resale, subject to the terms of the lock-up agreement that the holder of the Investor Note entered
into with the underwriters. </P>



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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Effective November 13, 2023, we entered into a side letter with the Holder of the Investor Note (the &ldquo;November
Investor Note Side Letter&rdquo;, pursuant to which we (i) amended and restated the Investor Note to extend the maturity date to
January 31, 2024, and (ii) in consideration therefor, agreed to issue to such Holder 30,000 shares of Common Stock (3,334 shares,
after giving effect to the Reverse Stock Split) on each of November 29, 2023, December 29, 2023 and January 29, 2024 (collectively,
the &ldquo;November Leak-Out Shares&rdquo;), provided the Investor Note remained outstanding as of such date. In addition, pursuant
to the November Investor Note Side Letter, we agreed to register the November Leak-Out Shares for resale. Pursuant to the Investor
Note Side Letters, we have issued to the Holder an aggregate of 80,000 shares
of Common Stock (8,889 shares, after giving effect to the Reverse Stock Split) prior to September 30, 2023 and an aggregate of
120,000 &nbsp;shares of Common Stock (13,334 shares, after giving effect to the Reverse Stock Split) subsequent to September 30,
2023, all of which are subject to the terms of the lock-up agreement that the holder of the Investor Note entered into with the
underwriters. For more information regarding the Investor Note Side Letters, please refer to &ldquo;Management&rsquo;s Discussion
and Analysis of Financial Condition and Results of Operations&rdquo;. </P>



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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
October 12, 2023, we and four existing investors entered into promissory notes (the &ldquo;October Promissory Notes&rdquo;) with
an aggregate face amount of $210,000 and an aggregate purchase price of $175,000. The October Promissory Notes mature on November
12, 2023 or, if earlier to occur, upon the closing of this offering. The October Promissory Notes bear no interest except in the
case of certain events of default. On November 7, 2023, we amended and restated the October Promissory Notes to extend the maturity
dates of the October Promissory Notes to November 17, 2023. On November 13, 2023, we amended and restated the October Promissory
Notes to further extend the maturity dates of the October Promissory Notes to February 29, 2024. For more information regarding
the October Promissory Notes, please refer to &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results
of Operations&rdquo;.</FONT> </P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>April
Promissory Notes</I></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On April 17, 2023, we entered into
a bridge loan for working capital purposes, with various accredited investors, all of whom are pre-existing stockholders, in the
aggregate principal amount of $393,808 (the &ldquo;April Bridge Financing&rdquo;). We received an aggregate of $166,903 in advances
(the &ldquo;Advances&rdquo;) prior to the close of the Bridge Financing from certain of the participating investors. The April
Bridge Financing consists of senior secured convertible notes that had a maturity date of October 17, 2023. Such notes accrue
interest on the unpaid principal amount at a rate of eight percent (8%) per annum and will automatically convert into 87,643 shares
of Common Stock at the initial public offering of shares of Common Stock at a twenty percent (20%) discount to the price per IPO
Share (assuming an initial public offering price of $6.00 per IPO Share, the midpoint of the price range set forth on the cover
page of the IPO Prospectus). On October 12, 2023, we entered into a first amendment to the senior secured convertible notes in
the April Bridge Financing, which extended the maturity of the notes to November 1, 2023. On October 24, 2023, we entered into
a second amendment to the senior secured convertible notes in the April Bridge Financing, which extended the maturity of the notes
to November 14, 2023. On November 13, 2023, we entered into a third amendment to the senior secured convertible notes in the April
Bridge Financing, which further extended the maturity of the notes to February 29, 2024. For more information regarding the April
Promissory Notes, please refer to &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo;. </P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On November 22, 2023, we commenced
a rights offering (the &ldquo;Rights Offering&rdquo;) pursuant to which we distributed non-transferable subscription rights (&ldquo;Subscription
Rights&rdquo;) to each holder of our Common Stock held as of 5:00 p.m. Eastern Standard Time on November 22, 2023, the record
date for the Rights Offering (the &ldquo;Rights Offering Record Date&rdquo;). The Subscription Rights could be exercised at any
time during the subscription period, which commenced on November 22, 2023 and expired at 5:00 p.m., Eastern Standard Time, on
December 1, 2023. Each Subscription Right entitled the eligible holder to purchase up to three shares of our Common Stock at a
price per whole share of Common Stock of $0.0112 (the &ldquo;Subscription Price&rdquo;). Holders who fully exercised their rights
could also subscribe for additional shares of Common Stock not subscribed for by other holders on a pro rata basis. In addition,
we could distribute to one or more additional persons, at no charge to such person, additional non-transferable subscription rights
to purchase shares of our Common Stock in the Rights Offering at the same Subscription Price, without notice to the holders of
our Common Stock. Upon the closing of the Rights Offering, we issued an aggregate of 22,732,336 shares of our Common Stock (2,525,815
shares, after giving effect to the Reverse Stock Split) and received aggregate net proceeds of $254,602, which we intend to use
primarily for general corporate purposes and expenses associated with our initial public offering. For more information regarding
the Rights Offering, please refer to &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo;. </P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Benuvia
License Agreement</I></FONT> </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On December 23, 2023, we entered into
an exclusive licensing agreement (the &ldquo;Benuvia License Agreement&rdquo;) with Benuvia Operations, LLC (&ldquo;Benuvia&rdquo;)
for a sublingual formulation of a Diclofenac spray for the treatment of acute pain (the &ldquo;Diclofenac Spray Formulation&rdquo;),
a Rizatriptan sublingual spray formulation (the &ldquo;Rizatriptan Spray Formulation&rdquo;) and an Ondansetron sublingual spray
formulation (the &ldquo;Ondansetron Spray Formulation&rdquo;), diversifying our pipeline of non-opioid pain treatment therapies,
while adding therapeutic options for related conditions. The Diclofenac Spray Formulation is patented and has started clinical
development in human volunteers. Preliminary pharmacokinetics suggest that this formulation may have a faster onset of action
than oral Diclofenac tablets. Diclofenac is a non-steroidal anti-inflammatory drug (an &ldquo;NSAID&rdquo;) that is also marketed
under additional brand names including Voltaren and Cataflam in its pill form. Rizatriptan, whose brand name is Maxalt, is used
for the acute treatment of Migraines as a pill. By a number of clinical measures, it is thought to be superior to Sumatriptan.
A sublingual formulation of Rizatriptan may potentially have a faster onset of action than an oral form and may be easier to tolerate
than swallowing a pill when patients are experiencing nausea as a result of the migraine headache. Ondansetron is an anti-emetic
that is available in oral and intravenous form. An Ondansetron sublingual spray formulation may potentially have a faster onset
of action than an oral form and may be easier to tolerate than swallowing a pill when patients are experiencing nausea. Under
the terms of the Benuvia License Agreement, Benuvia will be responsible for the manufacturing and supply of the Spray Formulations,
but we will have exclusive, worldwide rights to develop, commercialize and distribute the Spray Formulations. </P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-size: 10pt">In connection
with the Benuvia License Agreement, we agreed to pay Benuvia a six and one-half percent (6.5%) royalty on net sales of the Spray
Formulations for a period of up to 15 years from the date of the first commercial sale of the Spray Formulations. In addition,
on December 23, 2023, we entered into a stock issuance agreement with Benuvia (the &ldquo;Benuvia Stock Issuance Agreement&rdquo;),
pursuant to which we issued to Benuvia 3,458,033 shares (384,226 shares, after giving effect to the Reverse Stock Split) of our
Common Stock, which may be offered and sold pursuant to the Resale Prospectus. For more information regarding the Benuvia License
Agreement and the Benuvia Stock Issuance Agreement, please refer to &ldquo;Management&rsquo;s Discussion and Analysis of Financial
Condition and Results of Operations&rdquo;.</FONT> </P>

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

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On December 28, 2023, we entered into
an amendment to the Director Note, which extended the maturity date to February 29, 2024. For more information regarding the Director
Note, please refer to &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo;. </P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We are negotiating an arrangement with
the Holder of the Investor Note to enter into an Equity Line of Credit (the &ldquo;ELOC&rdquo;) subsequent to the IPO, pursuant
to which we will have the right, but not the obligation, to sell to the Holder up to $20,000,000 in newly issued shares of our
Common Stock, subject to certain limitations. Pursuant to the terms of the proposed arrangement, we will pay the Holder a commitment
fee of $1,000,000, which may be paid at our election, in cash or shares of Common Stock, upon entry into the ELOC. In addition,
we will agree to certain registration rights pursuant to which we will register the securities issuable under the ELOC subsequent
to the expiration of the lock-up agreement we enter into with the Representative in connection with the IPO. We also intend to
agree, during the proposed two-year term of the ELOC, to not enter into any variable, reset, or otherwise adjustable equity or
equity-linked transactions. In the event we do not close the ELOC within forty-five (45) days of the consummation of this IPO
and have the registration statement referred to above effective within ninety (90) days of the expiration of any IPO standstill
period, we expect to be obligated to pay to the holder a break-up fee in the amount of $1,000,000 and will not be able to raise
capital for sixty (60) days thereafter; provided that, we and the Holder may agree to enter into other form of investments, such
as a private investment in public equity transaction. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We anticipate that we will enter into
a purchase agreement to issue the shares of Common Stock issuable pursuant to the ELOC subsequent to the closing of the IPO; however,
as of the date hereof, we have not reached a formal agreement with the Holder with respect to the ELOC and accordingly, we may
not be successful in establishing such ELOC or, in the event we do establish such ELOC, we may not be able to do so on terms as
favorable as those described above. For more information regarding the ELOC, please refer to &ldquo;Management&rsquo;s Discussion
and Analysis of Financial Condition and Results of Operations&rdquo;. </P>



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














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















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<div style="BORDER:solid BLACK 1PX;padding-left:1%;padding-Right:1%;width:98%">















































































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































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Corporate















Information</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1pt; text-align: justify">Chromocell Holdings, our predecessor,















was founded in 2002 to commercialize &ldquo;Chromovert Technology,&rdquo; a proprietary discovery technology with a potential broad















range of applications in the biomedical field, including the potential capability to create complex targets (cell-lines) needed















for effective high-throughput screening that is commonly used both in therapeutics and flavors discovery. Initially, Chromocell















Holdings focused on applications in the food and flavors space.</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1pt; text-align: justify">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1pt; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In 2012, Chromocell Holdings started applying the technology in the therapeutics area. Chromocell Holdings focused its
efforts on projects where it believed that the discovery of novel medications was largely held back by difficulties creating complex
targets (cell lines) needed for effective high-throughput screening. The NaV1.7 ion-channel is a complex target with a well-established
role in pain modulation and management believed it presented an opportunity to apply the technology in an area of unmet medical
need. Upon creating the necessary NaV1.7 assays and conducting a large high-throughput campaign, Chromocell Holdings&rsquo; research
team discovered CC8464. After pre-clinical studies and assessments, an IND was filed and CC8464 was evaluated in a Phase 1 study
with more than 100 subjects. In 2015, Chromocell Holdings signed an agreement with Astellas Pharma Inc. (&ldquo;Astellas&rdquo;)
for the joint development and commercialization of CC8464. Astellas terminated such agreement in 2018 and returned all rights,
including all intellectual property rights on CC8464, to Chromocell Holding.</FONT> </P>
































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1pt; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1pt; text-align: justify">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As















both the flavors and the therapeutics businesses grew and increasingly required different expertise, capital and business concepts,















Chromocell Holdings made the strategic decision to separate the two businesses.</p>































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chromocell
Therapeutics Corporation (the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us&rdquo; and &ldquo;our&rdquo;) was incorporated
in Delaware on March 19, 2021. Our principal executive offices are located at 4400 Route 9 South, Suite 1000, Freehold, NJ 07728,
and our telephone number is (732) 514-2636. Our website is&nbsp;<U>www.chromocell.com</U>. Information contained on, or that can
be accessed through, our website is not incorporated by reference into this prospectus, and you should not consider information
on our website to be part of this prospectus.</FONT></P>































































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Implications















of Being an Emerging Growth Company</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We















qualify as an &ldquo;emerging growth company&rdquo; as defined in the Jumpstart Our Business Startups Act of 2012 (the &ldquo;JOBS















Act&rdquo;). An emerging growth company may take advantage of relief from certain reporting requirements and other burdens that















are otherwise applicable generally to public companies. These provisions include:</font></p>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">reduced















                                         obligations with respect to financial data, including presenting only two years of audited















                                         financial statements and related management&rsquo;s discussion and analysis of financial















                                         condition and results of operations in this prospectus;</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an















                                         exception from compliance with the auditor attestation requirements of Section 404(b)















                                         of the Sarbanes-Oxley Act of 2002 (the &ldquo;Sarbanes-Oxley Act&rdquo;);</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">reduced















                                         disclosure about our executive compensation arrangements in our periodic reports, proxy















                                         statements and registration statements; and</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">exemptions















                                         from the requirements of holding non-binding advisory votes on executive compensation















                                         or golden parachute arrangements.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We















may take advantage of these provisions for up to five years or such earlier time that we no longer qualify as an emerging growth















company. We would cease to be an emerging growth company upon the earliest of:</font></p>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr style="vertical-align: top">















    <td style="width: 24px">&nbsp;</td>















    <td style="width: 24px; font-size: 10pt"><font style="font-size: 10pt">&#9679;</font></td>















    <TD STYLE="font-size: 10pt; text-align: justify"><font style="font-size: 10pt">the last day of the fiscal year on which we have $1.235 billion















    or more in annual revenue,</font></td></tr>















</table>















































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































































</div>















</center>















<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></p>































<!-- Field: Page; Sequence: 9; Options: NewSection; Value: 2 -->















    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>















<center>















<div style="BORDER:solid BLACK 1PX;padding-left:1%;padding-Right:1%;width:98%">















<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         date on which we become a &ldquo;large accelerated filer&rdquo; (i.e., as of our fiscal















                                         year end, the total market value of our common equity securities held by non-affiliates















                                         is $700 million or more as of June 30),</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         date on which we issue more than $1.0 billion of non-convertible debt over a three-year















                                         period, or</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 24px; font-size: 10pt">&nbsp;</TD>















    <TD STYLE="width: 24px; font-size: 10pt"> <FONT STYLE="font-size: 10pt">&#9679;</FONT> </TD>















    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">the last day of our fiscal year following
    the fifth anniversary of the date of the completion of the offering of IPO Shares pursuant to the IPO Prospectus.</FONT> </TD></TR>















</TABLE>















































































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></font>&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We















have elected to take advantage of certain of the reduced disclosure obligations regarding financial statements (such as not being















required to provide audited financial statements for the fiscal year ended December 31, 2020) in this prospectus and executive















compensation in this prospectus and expect to elect to take advantage of&nbsp;other reduced burdens in future filings.</font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In















addition, under the JOBS Act, emerging growth companies can take advantage of an extended transition period and delay adopting















new or revised accounting standards until such time as those standards apply to private companies. We have elected to use this















extended transition period and, as a result, we will adopt new or revised accounting standards on the relevant dates on which















adoption of such standards is required for private companies. If we were to subsequently elect instead to comply with public company















effective dates, such election would be irrevocable pursuant to the JOBS Act.</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Also,















we are a &ldquo;smaller reporting company&rdquo; (and may continue to qualify as such even after we no longer qualify as an emerging















growth company). For as long as we qualify as a &ldquo;smaller reporting company,&rdquo; we may provide reduced disclosure in















the public filings that we make with the SEC than larger public companies, such as the inclusion of only two&nbsp;years of audited















financial statements and only two&nbsp;years of management&rsquo;s discussion and analysis of financial condition and results















of operations disclosure.</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As















a result of qualifying as an emerging growth company and a smaller reporting company, to the extent we take advantage of the allowable















reduced reporting burdens, the information that we provide to our stockholders may be different than what you might receive from















other public reporting companies in which you hold equity interests.</font></p>































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































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Summary















of Risks Associated with Our Business</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our















business is subject to a number of risks that you should be aware of before making an investment decision to purchase our securities.















You should carefully consider all of the information set forth in this prospectus and, in particular, should evaluate the specific















factors set forth in the section titled &ldquo;Risk Factors&rdquo; in deciding whether to invest in our securities. Among these















important risks are the following:</font></p>































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































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">















<tr style="vertical-align: top">















    <td style="width: 0.25in; font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="width: 0.25in; font: 10pt Times New Roman, Times, Serif"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">there















    is substantial doubt about our ability to continue as a going concern.</font> </td></tr>















</table>















































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we















                                         have a limited operating history, have incurred losses since inception and expect to















                                         incur losses for the foreseeable future and may never achieve or maintain profitability;</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">















<tr style="vertical-align: top">















    <td style="width: 0.25in; font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="width: 0.25in; font: 10pt Times New Roman, Times, Serif"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we have identified  material weaknesses in our internal control over financial reporting arising from inadequate segregation















    of duties, ineffective information technology controls and lack of certain financial reporting and transaction processing















    controls;</font> </td></tr>















</table>















































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in">&#9679;</td><TD STYLE="text-align: justify">we will need to raise additional funding in order















                                         to receive approval for CC8464 or any other compounds that we may develop;</td></tr></table>































































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font>&nbsp;</p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></p>































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr style="vertical-align: top">















    <td style="width: 24px">&nbsp;</td>















    <td style="width: 24px; font-size: 10pt"><font style="font-size: 10pt">&#9679;</font></td>















    <TD STYLE="font-size: 10pt; text-align: justify"><font style="font-size: 10pt">we are early in our efforts to develop CC8464, which is the only















    compound that we have advanced into clinical development, and if we are unable to advance development through clinical trials,















    obtain regulatory approval in the United States or abroad and ultimately commercialize CC8464, or if we experience significant















    delays in doing so, our business will be materially harmed;</font></td></tr>















</table>















































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">there















                                         is no guarantee that the results from prior clinical and preclinical studies will be















                                         indicative of our ability to complete studies or the results to be obtained in the current















                                         or future studies and clinical trials;</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CC8464















                                         may cause undesirable side effects or have other properties that could delay or prevent















                                         its regulatory approval, limit the commercial potential or result in significant negative















                                         consequences following any potential marketing approval;</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in">&#9679;</td><TD STYLE="text-align: justify">we plan to apply for orphan drug designation for CC8464; however, it may not effectively protect us from















competition, and we may be unable to obtain similar designations for future lead compounds. Even if such designation is granted















for CC8464 or if Breakthrough Therapy designation, and/or Fast Track designation is granted for CC8464, this may not lead to a















faster development, regulatory review or approval process and may not increase the likelihood that any future lead compound will















receive approval in the United States;</td></tr></table>































































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></p>















</div>















</center>















<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<!-- Field: Page; Sequence: 10; Value: 2 -->















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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>















<center>















<div style="BORDER:solid BLACK 1PX;padding-left:1%;padding-Right:1%;width:98%">















<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><td><P STYLE="margin: 0pt 0; text-align: justify">we















                                         may expend our limited resources to pursue a compound or indication and fail to capitalize















                                         on different compounds or indications that may be more profitable or for which there















                                         is a greater likelihood of success, and we may not be successful in discovering, developing















                                         and commercializing additional compounds;</p>















































</td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we















                                         need to establish our market development capabilities to commercialize our products and















                                         failure to do so may result in an inability to generate any revenue. Our revenue depends















                                         on what we can charge for our product, and government pricing controls and regulations,















                                         along with insurance coverage and reimbursement approval, could decrease our ability















                                         to generate revenue;</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we















                                         face significant competition and our competitors may achieve regulatory approval before















                                         us or develop therapies that are more advanced or effective than ours, which may adversely















                                         affect our financial condition;</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we















                                         may face risks to our manufacturing process, including potential disruptions to supply















                                         chain and delays in obtaining regulatory approvals of the processes and facilities needed















                                         to manufacture future lead compounds, including CC8464. As we may need to utilize third















                                         parties to conduct our manufacturing, we could experience delays in our development and















                                         commercialization efforts; </font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">if















                                         we are unable to manage expected growth in the scale and complexity of our operations,















                                         our performance may suffer;</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we















                                         face risks regarding our ability to retain key employees and scientific advisors, and















                                         to attract, retain and motivate qualified personnel;</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we















                                         are subject to a range of laws and regulations, including federal and state healthcare















                                         fraud and abuse laws, false claims laws, health information and privacy and security















                                         laws, and environmental, health, and safety laws. Failure to comply with these laws and















                                         associated regulations could result in substantial penalties and liabilities;</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><td><P STYLE="margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">an















                                         outbreak of an infectious disease, including COVID-19, or other unfavorable global economic















                                         conditions may materially and adversely affect our business and our financial results















                                         and could cause a disruption to the development of future compounds;</font></p>















































</td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we















                                         carry risks related to our intellectual property. If we are unable to obtain and maintain















                                         adequate U.S. and foreign patent protection for our compounds, if we face litigation















                                         or administrative proceedings by a third-party over our patents, if there is a change















                                         in U.S. or foreign patent law or interpretation thereof diminishing the value of our















                                         patents, or if we are unable to protect the confidentiality of our trade secrets, our















                                         business may be materially harmed;</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we















                                         carry risks related to third party intellectual property. If a third-party institutes















                                         patent litigation against us in the U.S. or a foreign jurisdiction asserting that CC8464















                                         and/or additional lead compounds infringe its patent rights the outcome of which would















                                         be uncertain and could have a material adverse effect on the success of our business;</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 24px">&nbsp;</TD>















    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">if the listing application for our Common















    Stock is not approved by NYSE American, we will not be able to consummate the offering of IPO Shares and will terminate such















    offering. Even if we are approved to list our Common Stock on NYSE American, failure to maintain such listing could materially















    adversely affect the value of our Common Stock; </FONT></TD></TR>















</TABLE>































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































































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></font></p>















</div>















</center>















<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>















<center>















<div style="BORDER:solid BLACK 1PX;padding-left:1%;padding-Right:1%;width:98%"> <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 24px; padding-top: 8pt">&nbsp;</TD>















    <TD STYLE="width: 24px; font-size: 10pt; padding-top: 8pt"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="font-size: 10pt; text-align: justify; padding-top: 8pt"><FONT STYLE="font-size: 10pt">even if we are able to effect a stock split















    of our shares of Common Stock to meet NYSE American&rsquo;s initial listing requirements, we cannot assure you that we will















    be able to continue to comply with NYSE American&rsquo;s listing standards. Further, potential investors may not have an opportunity















    to check the actual post-split market price of our Common Stock prior to confirming their purchases in the IPO;</FONT></TD></TR>















</TABLE>















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















































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">







<TR STYLE="vertical-align: top">







    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>







    <TD STYLE="width: 24px"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></FONT> </TD>







    <TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">if you receive IPO Shares pursuant to the IPO Prospectus, you will suffer immediate dilution of your investment,
and a significant portion of our shares of Common Stock are restricted from immediate resale but may be sold into the market in
the near future, which could cause the market price of our Common Stock to drop significantly, even if our business is performing
well. There may also be substantial sales of our Common Stock by the Selling Stockholders after the effective date of the registration
statement of which this prospectus forms a part, which could have a material adverse effect on the price of our Common Stock;</FONT></FONT> </P></TD></TR>







<TR STYLE="vertical-align: top">







    <TD>&nbsp;</TD>







    <TD>&nbsp;</TD>







    <TD>&nbsp;</TD></TR>







<TR STYLE="vertical-align: top">







    <TD>&nbsp;</TD>







    <TD> <FONT STYLE="font-size: 10pt">&#9679;</FONT> </TD>







    <TD STYLE="text-align: justify"> <FONT STYLE="font-size: 10pt">The Series C Preferred Stock to be issued upon close of the
    IPO will have a liquidation preference over our Common Stock, which could result in holders of our Common Stock not receiving
    any proceeds in the event of our liquidation;</FONT> </TD></TR>









</TABLE>































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































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 24px; font-size: 10pt">&nbsp;</TD>















    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the price of our securities may be volatile















    and fluctuate substantially, which could result in substantial losses for purchasers;</FONT></TD></TR>















</TABLE>















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































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 24px">&nbsp;</TD>















    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">we will incur increased costs as a result of operating as















    a smaller reporting public company, and our management will be required to devote substantial time to new compliance efforts;</FONT></TD></TR>















</TABLE>















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































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="width: 24px"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></FONT> </TD>















    <TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">we
                                    have broad discretion in the use of our cash, including the net proceeds from the offering
                                    of IPO Shares, and may not use them effectively;</FONT></FONT> </P> </TD></TR>















</TABLE>















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































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="width: 24px"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>















    <TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">there is no current public market for our Common Stock; and</FONT> </P>


</TD></TR>















</TABLE>































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































































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         other factors set forth under &ldquo;Risk Factors.&rdquo;</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These















and other risks are more fully described in the section entitled &ldquo;Risk Factors&rdquo; in this prospectus. If any of these















risks actually occurs, our business, financial condition, results of operations, cash flows, and prospects could be materially















and adversely affected. As a result, you could lose all or part of your investment in our securities.</font></p>































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















</div>















</center>















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















































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</p>















<center>















<div style="BORDER:solid BLACK 1PX;padding-left:1%;padding-Right:1%;width:98%">















<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">THE















OFFERING</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 30%; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares of Common Stock offered by us</FONT> </TD>
    <TD STYLE="width: 70%; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,038,674 <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IPO Shares (1,194,475
IPO Shares if the underwriters exercise their over-allotment option in full), based on an assumed initial public offering price of
$6.00 per IPO Share, which is the midpoint of the price range set forth on the cover page of the IPO Prospectus. </FONT></FONT> </TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriters&rsquo;
    over-allotment option</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> We have granted the underwriters an option to purchase from us up to an additional&nbsp;155,801&nbsp;IPO
Shares within 45 days from the date of this prospectus solely to cover over-allotments, if any, at the initial public offering
price per IPO Share, less underwriting discounts and commissions. </P></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 30%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares
    of Common Stock offered by the Selling Stockholders</FONT> </TD>
    <TD STYLE="width: 70%; text-align: justify; font: 10pt Times New Roman, Times, Serif"> 2,909,353 <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Selling
    Stockholder Shares. </FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
Stock to be outstanding</FONT> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 30%; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">immediately
    following the&nbsp;IPO</FONT> </TD>
    <TD STYLE="width: 70%; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,617,007 shares (or 5,772,808 shares if the underwriters&rsquo; exercise their over-allotment option
in full), based on an assumed initial public offering price of $6.00 per <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IPO
Share, which is the midpoint of the price range set forth on the cover page of the IPO Prospectus.</FONT></FONT> </TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 30%; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use
    of proceeds</FONT> </TD>
    <TD STYLE="width: 70%; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We estimate that the net proceeds from the sale of <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IPO
Shares pursuant to the IPO Prospectus will be approximately $4.6 million (or approximately $5.5 million if the underwriters&rsquo;
option to purchase additional IPO Shares is exercised in full), based on an assumed initial public offering price of $6.00 per
IPO Share, the midpoint of the price range set forth on the cover page of the IPO Prospectus, after deducting the underwriting
discounts and commissions and estimated offering expenses payable by us.</FONT></FONT> </TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 30%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 70%; font: 10pt Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                         intend to use (i) approximately $2.0 million of the net proceeds to prepare and conduct
                                         a dose escalation study for CC8464 in an effort to establish a safe dose escalation regime
                                         which will be designed to avoid a high incidence rate of rashes; (ii) approximately $0.4 million for in vivo and toxicology studies of CC8464 for the treatment of eye pain;
                                         (iii) approximately $0.25 million for neuropathic studies of CC8464 for the treatment
                                         of neuropathic pain; (iv) approximately $0.25 million to prepare and begin conducting
                                         a Phase 2a proof-of-concept study of CC8464 for EM; and (v) approximately $0.2 million
                                         to repay amounts outstanding under the October Promissory Notes. We intend to use the
                                         remaining net proceeds, if any, for general corporate purposes.</FONT> </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The offering of IPO Shares includes an aggregate of (i) $557,036 in shares at the public offering price
per IPO Share directly to a lender holding the Investor Note (92,840 shares, assuming an initial public offering price of $6.00
per IPO Share, the midpoint of the price range set forth on the cover page of the IPO Prospectus, and including interests calculated
to and through January 31, 2024) and (ii) $175,000 in shares at the public offering price per IPO Share directly to one of our
directors holding the Director Note (29,167 shares, assuming an initial public offering price of $6.00&nbsp;per IPO Share, the
midpoint of the price range set forth on the cover page of the IPO Prospectus). Such IPO Shares are being offered in the IPO as repayment
of the Investor Note and Director Note in full satisfaction of our obligations thereunder and, accordingly, the amount of net proceeds
we receive in the IPO will not increase as a result. However, because the director is not obligated to accept IPO Shares in the IPO
in full (or partial) satisfaction of our obligations under the Director Note, we may be required to use a portion of the net proceeds
from the IPO to repay the amounts outstanding under the Director Note. In that instance, the net proceeds available to prepare
and conduct studies for CC8464 would be reduced by up to $175,000, and the number of IPO Shares issued in the IPO would decrease
accordingly.</FONT> </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We will
        not receive any proceeds from the sale of the Selling Stockholder Shares by the Selling Stockholders pursuant to the Resale
        Prospectus. See &ldquo;Use of Proceeds.&rdquo;&nbsp;</FONT> </P></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 30%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lock-Up
    Restrictions</FONT> </TD>
    <TD STYLE="width: 70%; text-align: justify; font: 10pt Times New Roman, Times, Serif"><P STYLE="margin: 0pt 0"> In connection
                                         with the IPO, we, our directors, executive officers and holders of 5% or more of our
                                         capital stock prior to the IPO, have agreed not to offer, issue, sell, contract to sell,
                                         encumber, grant any option for the sale of or otherwise dispose of any of our securities
                                         for a period of six (6) months following the closing of the IPO, subject to certain exceptions.
                                         For the avoidance of doubt, the foregoing shall not prevent the Company from entering
                                         into or drawing down on the proposed ELOC or issuing shares of Common Stock thereunder.
                                         See &ldquo;Underwriting.&rdquo; </P>


</TD></TR>
</TABLE>
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<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>































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































<P STYLE="margin-top: 0; margin-bottom: 0"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 2pt">&nbsp;</FONT></P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 30%; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Representative&rsquo;s
    Warrants</FONT> </TD>
    <TD STYLE="width: 70%; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We will issue to A.G.P./Alliance Global Partners, as representative of the underwriters or its designees,
at the closing of the IPO, warrants to purchase a number of shares of Common Stock equal to five percent (5%) of the aggregate
number of <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IPO Shares sold pursuant to the IPO Prospectus.
The Representative&rsquo;s Warrants will be exercisable beginning six months from the commencement of sales of IPO Shares registered
on the registration statement of which the IPO Prospectus is a part and will expire five years following the commencement of sales
in the IPO. The exercise price of the Representative&rsquo;s Warrants will equal 125% of the public offering price per IPO Share.
See &ldquo;Underwriting.&rdquo; The IPO Prospectus also relates to the Common Stock issuable upon exercise of the Representative&rsquo;s
Warrants.</FONT></FONT> </TD></TR>
</TABLE>

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



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">

<TR STYLE="vertical-align: top">

    <TD STYLE="width: 30%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk factors</FONT></TD>

    <TD STYLE="width: 70%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">See &ldquo;Risk Factors&rdquo; and other information included in this prospectus for a discussion of factors you should consider carefully before deciding to invest in our securities.</FONT></TD></TR>

</TABLE>

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



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 30%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transfer agent and registrar</FONT> </TD>
    <TD STYLE="width: 70%; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our transfer agent and registrar for our Common Stock is Nevada Agency and Transfer Company, located at
50 W. Liberty Street, Suite 880, Reno, NV 89501.</FONT> </TD></TR>
</TABLE>

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





<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 30%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proposed
    NYSE American symbol</FONT> </TD>
    <TD STYLE="width: 70%; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    have applied to list our Common Stock on NYSE American under the symbol &ldquo;CHRO&rdquo;.</FONT> </TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Unless we specifically state otherwise
or the context otherwise requires, the share information in this prospectus is based on 35,186,665 shares of Common Stock outstanding
as of January 16, 2024 (prior to giving effect to the Reverse Stock Split) and: </P>



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



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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">gives effect to the IPO Transactions, which include, among other items: (i) a 1-for-9 Reverse Stock Split,
(ii) the issuance of &nbsp;499,429 shares of Common Stock upon conversion of all issued and outstanding shares of Series A Preferred
Stock, (iii) the issuance of 130,993&nbsp;shares of Common Stock upon conversion of the senior secured convertible notes issued
in connection with the Bridge Financings (as defined below), which includes an additional 551 Bonus Shares and includes interests
calculated to and through January 31, 2024, and (iv) the issuance of 37,500 shares of Common Stock to
the Standby Investor, assuming, in the case of each of (i) through (iii) above, an initial public offering price of $6.00 per <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IPO
Share, the midpoint of the price range set forth on the cover page of the IPO Prospectus&nbsp;(each of (ii) through (iv) above, after giving effect to the Reverse Stock Split);</FONT></FONT> </TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"></TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">gives effect to the issuance of 1,038,674 <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IPO
Shares in the IPO, inclusive of: (i) 916,667 IPO Shares to the public; (ii) 92,840 IPO Shares to the lender holding the Investor
Note (including interests calculated to and through January 31, 2024); and (iii) 29,167 IPO Shares to the director holding the
Director Note, in each case, assuming an initial public offering price of $6.00 per IPO Share, the midpoint of the price range
set forth on the cover page of the IPO Prospectus;</FONT></FONT> </TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="width: 24px; font-size: 10pt"> <FONT STYLE="font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">assumes issuance of the November Leak-Out Shares issuable on January 29, 2024 pursuant to the November
Investor Note Side Letter;</FONT> </TD></TR>
</TABLE>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">assumes no exercise of the underwriters&rsquo; option to purchase additional IPO Shares from us in the
IPO;</FONT> </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">assumes
    no exercise of the Representative&rsquo;s Warrants;</FONT> </TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">assumes no conversion
    of the Series C Preferred Stock to be issued at the close of the IPO; and</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">does
    not reflect 444,444 shares of Common Stock that are reserved for future grants or sale under our omnibus equity incentive
    plan, as amended, which amount includes 208,667 shares underlying currently outstanding stock options with a weighted average
    exercise price of $22.68 (all after giving effect to the Reverse Stock Split).</FONT> </TD></TR>
</TABLE>



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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">SUMMARY















HISTORICAL FINANCIAL DATA</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</p>































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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following tables summarize our financial data as of and for the periods indicated. The balance sheet data as of December 31, 2022,
and the statements of operations data for the years ended December 31, 2022 and 2021, are derived from the audited financial statements
included elsewhere in this prospectus. The balance sheet data as of September 30, 2023, and the statements of operations data
for the nine months ended September 30, 2023 and 2022, are derived from the unaudited interim financial statements included elsewhere
in this prospectus. These historical results have been prepared on a carve-out basis and are not necessarily indicative of results
that may be expected in the future. Please see &ldquo;Basis of Presentation&rdquo; in the forepart of this prospectus for more
information.</FONT> </P>































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































































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The following summary financial data should be read in conjunction with the section titled &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo; and the financial statements and related notes included elsewhere in this prospectus.</font></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> For the <BR> Nine Months
    <BR> Ended <BR> September&nbsp;30, 2023 </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> For the <BR> Nine Months
    <BR> Ended <BR> September&nbsp;30, 2022 </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> For the <BR> Year Ended <BR>
    December&nbsp;31, 2022 </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> For the <BR> Year Ended <BR>
    December&nbsp;31, 2021 </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"> Statements of Operations Data: </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> (Unaudited) </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> (Unaudited) </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> (Audited) </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> (Audited) </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold"> REVENUE </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: right"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: right"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: right"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: right"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> Grant revenue </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom"> $ </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom"> $ </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom"> $ </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom"> $ </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Total revenue </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> OPERATING EXPENSES </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 48%; text-align: left"> General and administrative expenses </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 10%; text-align: right"> 1,677,078 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 10%; text-align: right"> 371,283 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 10%; text-align: right"> 1,098,848 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 10%; text-align: right"> 496,667 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Research and development </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 285,204 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 97,147 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 391,730 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 209,047 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt"> Professional fees </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> 1,021,187 </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> 634,913 </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> 827,581 </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> 133,282 </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt"> Total operating expenses </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> 2,983,469 </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> 1,103,343 </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> 2,318,159 </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> 838,996 </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> NET LOSS FROM OPERATIONS </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (2,983,469 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (1,103,343 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (2,318,159 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (838,996 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left"> OTHER INCOME (EXPENSE) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt"> Interest expenses </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> (358,171 </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> (97,818 </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> (140,430 </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> (253 </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt"> Gain on forgiveness of PPP loan </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> 243,862 </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Total other expense </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (358,171 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (97,818 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (140,430 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 243,609 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Net loss before provision for income taxes </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (3,341,640 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (1,201,161 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (2,458,589 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (595,387 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt"> Provision for income taxes </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> - </TD><TD STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt"> NET LOSS </TD><TD STYLE="padding-bottom: 2.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"> (3,341,640 </TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 2.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"> (1,201,161 </TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 2.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"> (2,458,589 </TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"> ) </TD><TD STYLE="padding-bottom: 2.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"> $ </TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"> (595,387 </TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pro forma net (loss)
    income per common share, basic and diluted<SUP>(1)</SUP></FONT> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (0.36 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (0.64 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (0.25 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (0.06 </TD><TD STYLE="text-align: left"> ) </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted-average
    shares used to compute pro forma net (loss) income per common share, basic and diluted<SUP>(1)</SUP></FONT> </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 9,286,928 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,868,132 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 10,000,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 10,000,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-bottom: 1pt; vertical-align: bottom"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>September&nbsp;30,&nbsp;2023</B></FONT> </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>December
    31, 2022</B></FONT> </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; text-align: center; vertical-align: bottom"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; vertical-align: bottom"> Balance Sheet Data: </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Unaudited)</FONT> </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Audited)</FONT> </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Total assets </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 22,786 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 55,074 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Total liabilities </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 5,927,374 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3,761,611 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Stockholders&rsquo; / parent&rsquo;s net deficit </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (5,904,588 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (3,706,537 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Total liabilities and stockholders&rsquo; / parent&rsquo;s net deficit </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 22,786 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 55,074 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
</TABLE>

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    <TD STYLE="width: 24px; font-size: 10pt"> <FONT STYLE="font-size: 10pt">(1)</FONT> </TD>







    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 10pt">Gives effect to (i) the transactions contemplated by the Contribution
    Agreement and (ii) the IPO Transactions, in each case, as if each had occurred on January 1, 2022.</FONT> </TD></TR>







</TABLE>























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































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































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































































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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="a002_v1"></a>RISK















FACTORS</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><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: 0pt 0; text-align: justify"></P>



























<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Investing in our securities involves a high degree of risk. You should carefully consider the following
risks and all other information contained in this prospectus, including our financial statements and the related notes, before
investing in our securities. Additional risks and uncertainties that we are unaware of, or that we currently believe are not material,
also may become important factors that affect us. If any of the following risks occur, our business, financial condition, results
of operations and prospects could be materially and adversely affected. In these circumstances, the market price of our Common
Stock could decline, and you may lose all or part of your investment.</I></FONT> </p>































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































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risks&nbsp;Related















to&nbsp;Our&nbsp;Business</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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: 0pt 0; text-align: justify"> <b><i>The report of the independent















registered public accounting firm on our 2022 and 2021 financial statements contains a going concern qualification.</i></b> </p>































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































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















report of the independent registered public accounting firm covering our financial statements for the years ended December 31,















2022 and 2021 stated that certain factors, including that we have suffered recurring losses from operations and have an accumulated















deficit at December 31, 2022, raised substantial doubt as to our ability to continue as a going concern. Because we are not yet















producing sufficient revenue to sustain our operating costs, we are dependent upon raising capital to continue our business. If















we are unable to raise capital, we may be unable to continue as a going concern.</FONT></p>































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































































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>We















are a clinical stage biopharmaceutical company with a limited operating history.</i></font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The operations of our company, contributed















to us by Chromocell Holdings, to date have been limited to financing and staffing our Company, developing and licensing compounds,















conducting preclinical and clinical studies of CC8464 for EM and other pain indications. We have not yet demonstrated the ability















to successfully complete a large-scale, pivotal clinical trial, obtain marketing approval, manufacture a commercial scale product,















arrange for a third party to do so on our behalf, or conduct sales and marketing activities necessary for successful product commercialization.















Consequently, predictions about our future success or viability may not be as accurate as they could be if we had a history of















successfully developing and commercializing pharmaceutical products.</p>































































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;<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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accordingly,















you should consider our prospects in light of the costs, uncertainties, delays and difficulties frequently encountered by companies















in the early stages of development, especially early-stage clinical pharmaceutical companies such as ours. Potential investors















should carefully consider the risks and uncertainties that a company with a limited operating history will face. In particular,















potential investors should consider that we cannot assure you that we will be able to, among other things:</font></p>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">successfully















                                         implement or execute our current business plan, and we cannot assure you that our business















                                         plan will lead to an approval or successful commercialization;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">successfully manufacture our clinical lead compound and establish commercial supply;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">successfully complete the clinical trials necessary to obtain regulatory approval for the marketing of















our lead compound;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">secure market exclusivity and/or adequate intellectual property rights for our lead compound in each jurisdiction















in which we do or plan to commercialize our lead compound or where our competitors are organized or may engage in competitive activity;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">attract















                                         and retain an experienced management and advisory team;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">secure acceptance of our lead compound in the medical community and with third-party payors and consumers;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">raise















                                         sufficient funds in the capital markets or otherwise to effectuate our business plan;















                                         and</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">utilize















                                         the funds that we do have and/or raise in this offering or in the future to efficiently















                                         execute our business strategy.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If















we cannot successfully execute any one of the foregoing, our business may fail and your investment will be adversely affected.</font></p>































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































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































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We















have incurred net losses since inception. We expect to incur losses for the foreseeable future and may never achieve or maintain















profitability.</i></b></font></p>































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































































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There















are numerous risks and uncertainties associated with pharmaceutical product and biological development, and we are unable to accurately















predict the timing or amount of increased expenses or when, or if, we will be able to achieve profitability.</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have had net losses since inception, and we had an accumulated deficit of approximately $9.5 million and $6.1 million as of September
30, 2023 and December 31, 2022, respectively, which includes a net loss of approximately $3.3 million and $1.2 million for the
nine months ended September 30, 2023 and 2022, and approximately $2.5 million and $0.6 million for the years ended December 31,
2022 and 2021, respectively. Overall, these conditions have raised substantial doubt regarding our ability to continue as a going
concern beyond one year of the filing of our financial statements. Our ability to continue as a going concern is dependent upon
the ability to complete clinical studies and implement our business plan, raise capital, generate sufficient revenues and to control
operating expenses.</FONT> </P>
































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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> We
have primarily financed our operations through a combination of a series of cash advances, equity raises, bridge and promissory
note issuances, licensing arrangements and government grants. Our ability to achieve significant profitability depends on our
ability to successfully complete the development of, and obtain the regulatory approvals necessary to commercialize, CC8464 and/or
additional lead compounds. We expect that it will take several years, if ever, before we have a commercialized lead compound.
The net losses we incur may fluctuate significantly from quarter to quarter. </P>

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















we are required by the FDA, the European Medicines Agency (&ldquo;EMA&rdquo;), or other regulatory authorities, including, among















others, China&rsquo;s National Medical Products Administration, Japan&rsquo;s Pharmaceuticals and Medical Devices Agency, and















the Australian National Health and Medical Research Council&rsquo;s Therapeutics Goods Administration, to perform studies in addition















to those currently expected, or if there are any delays in completing our clinical trials or the development of CC8464 and/or















other lead compounds, our expenses could increase and revenue could be further delayed. We anticipate that our expenses will increase















substantially if, and as, we:</font></p>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">continue















                                         our research and the clinical development of CC8464;</font></td></tr></table>































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



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">

  <TR STYLE="vertical-align: top">

    <TD STYLE="width: 0.25in">&nbsp;</TD>

    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>

    <TD STYLE="text-align: justify">launch in vivo and toxicology studies of CC8464 for the treatment of eye pain;</TD></TR>

  </TABLE>



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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">initiate















                                         additional clinical trials and preclinical studies for any additional lead compounds















                                         that we may pursue in the future;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">prepare















                                         a U.S. New Drug Application (&ldquo;NDA&rdquo;) for filing with the FDA, a marketing















                                         authorization application, and approvals in certain other countries;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">oversee















                                         the manufacturing of material for clinical trials or potential commercial sales;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">develop















                                         a lead compound portfolio;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">establish















                                         a business development operation to in- our out-license certain assets;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">establish















                                         a sales, marketing and distribution infrastructure to commercialize any lead compound















                                         for which we may obtain marketing approval;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">develop,















                                         maintain, expand, protect and enforce our intellectual property rights portfolio; and/or</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">acquire















                                         or in-license other compounds and technologies.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><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: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To















become and remain profitable, we must develop and eventually commercialize one or more lead compounds with significant market















potential. This will require us to be successful in a range of challenging activities, including completing the clinical trials,















developing and validating commercial scale manufacturing processes, obtaining marketing approval for this lead compound, manufacturing,















marketing. Licensing and selling any future lead compounds for which we may obtain marketing approval and satisfying any post-marketing















requirements. If we were required to discontinue development of CC8464, if CC8464 does not receive regulatory approval, if we















do not obtain our targeted indication(s) for CC8464, or if CC8464 fails to achieve sufficient market acceptance for any indication,















we could be delayed by many years in our ability to achieve profitability. Our failure to become and remain profitable would decrease















the value of our company and could impair our ability to raise capital, maintain our research and development efforts, expand















our business or continue our operations. A decline in the value of our company also could cause you to lose all or part of your















investment.</FONT></P>































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































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <b><i>We have identified material















weaknesses in our internal control over financial reporting.</i></b> </p>































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































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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to our initial public offering, we were a private company and had limited accounting and financial reporting personnel and other
resources with which to address our internal controls and related procedures. In connection with the audit and review, as applicable,
of our financial statements for the years ended December 31, 2022 and 2021 and the nine months ended September 30, 2023 and 2022,
we identified material weaknesses in our internal control over financial reporting. A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a
material misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis. The material
weaknesses in our case arose from inadequate segregation of duties, ineffective information technology controls and lack of certain
financial reporting and transaction processing controls. If we are unable to remedy our material weaknesses, or if we generally
fail to establish and maintain effective internal controls appropriate for a public company, we may be unable to produce timely
and accurate financial statements, and we may conclude that our internal control over financial reporting is not effective, which
could adversely impact our investors&rsquo; confidence and our stock price.</FONT> </P>



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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We















will need to raise additional funding to receive approval for CC8464 or any other lead compound. Such funding may not be available















on acceptable terms, or at all. Failure to obtain this necessary capital when needed may force us to delay, limit, sell or terminate















certain of our product development efforts or other operations.</i></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To















complete the process of obtaining regulatory approval for CC8464 and to build the sales, marketing, licensing and distribution















infrastructure that we believe will be necessary to commercialize CC8464, if approved, we will require substantial additional















funding. In addition, if we obtain marketing approval for CC8464, we expect to incur significant expenses related to product sales,















medical affairs, marketing, manufacturing and distribution.</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our















future capital requirements will depend on many factors, including:</font></p>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         progress, timing, results and costs of our phase 2a clinical trial for CC8464;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         progress, timing and costs of manufacturing clinical trial for our planned pivotal clinical















                                         trials;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         potential development and the filing on an IND application for other lead compounds;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         initiation, scope, progress, timing, costs and results of drug discovery, laboratory















                                         testing, manufacturing, preclinical studies and clinical trials for any other lead compounds















                                         that we may pursue in the future, if any;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         outcome, timing and costs of seeking regulatory approvals;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         costs associated with the manufacturing process development and evaluation of third-party















                                         manufacturers;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         costs of future activities, including product sales, medical affairs, marketing, manufacturing















                                         and distribution, in the event we receive marketing approval for CC8464 or any other















                                         lead compounds we may develop;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the extent to which the costs of future lead compounds, if approved, will be paid by health maintenance,















managed care, pharmacy benefit and similar healthcare management organizations, or will be reimbursed by government authorities,















private health coverage insurers and other third-party payors;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the costs of commercialization activities for CC8464 and other future lead compounds if we receive marketing















approval for CC8464 or any other lead compounds we may develop, including the costs and timing of establishing product sales, medical















affairs, marketing, distribution and manufacturing capabilities;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">subject















                                         to receipt of marketing approval, if any, revenue received from commercial sale of CC8464















                                         or any of our other lead compounds;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         terms and timing of any future collaborations, licensing, consulting or other arrangements















                                         that we may establish;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         amount and timing of any payments we may be required or decide to make, or that we may















                                         receive, in connection with the licensing, filing, prosecution, maintenance, and enforcement















                                         of any patents or other intellectual property rights and defense against third party















                                         intellectual property infringement claims, including milestone and royalty payments















                                         and patent prosecution fees that we are obligated to pay pursuant to our license agreements,















                                         if any;</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></p>































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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         development of alternative treatments for EM or other pain indications;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         ability to establish and maintain collaborations and licenses on favorable terms, if















                                         at all; and</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         extent to which we acquire or in-license other compounds and technologies.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Identifying potential lead compounds















and conducting preclinical testing and clinical trials is a time-consuming, expensive and uncertain process that takes years to















complete, and we may never generate the necessary data or results required to obtain marketing approval and achieve product sales.















Our lead compounds, if approved, may not achieve commercial success. Our future lead compound&rsquo;s revenues, if any, will be















derived from or based on sales of lead compounds that may not be commercially available for many years, if at all. Accordingly,















it is unlikely that we will generate product or licensing revenue during the next twelve months and will need to continue to rely















on additional financing to achieve our business objectives. Any additional fundraising efforts may divert our management from















their day-to-day activities, which may adversely affect our ability to develop and commercialize future lead compounds. Moreover,















the terms of any financing may adversely affect the holdings or the rights of our stockholders and the issuance of additional















securities, whether equity or debt, by us, or the possibility of such issuance, may cause the market price of our shares to decline.















The sale of additional equity or convertible securities would dilute all our stockholders. The incurrence of indebtedness would















result in increased fixed payment obligations and a portion of our operating cash flows, if any, being dedicated to the payment















of principal and interest on such indebtedness, and we may be required to agree to certain restrictive covenants, such as limitations















on our ability to incur additional debt, limitations on our ability to acquire, sell or license intellectual property rights and















other operating restrictions that could adversely impact our ability to conduct our business. Furthermore, existing securityholders















may not agree with our financing plans or the terms of such financings. Adequate additional financing may not be available to















us on acceptable terms, or at all. The terms of additional financing may be impacted by, among other things, general market conditions,















and the market&rsquo;s perception of future lead compounds. If adequate funds are not available, we may be required to curtail















our operations or other business activities or obtain funds through arrangements with strategic partners or others that may require















us to relinquish rights to certain technologies or potential markets.</p>































































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></font></p>































































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































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risks&nbsp;Related















to&nbsp;Development, Clinical Testing, and Regulatory Approval</font></p>































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































<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: -0.05pt">We















are early in our efforts to develop CC8464, which is the only compound that we have advanced into clinical development. If we















are unable to advance CC8464 through clinical trials, obtain regulatory approval and ultimately commercialize CC8464, or if we















experience significant delays in doing so, our business will be materially harmed.</p>































































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We















are early in our development of CC8464. The development and commercialization of CC8464 (or any other compound that we may advance towards clinical development in the future) is subject to many uncertainties, including the following:</font></p>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">successful















                                         enrollment and completion of the two studies we are planning to conduct in the next phase















                                         of our clinical trials (Phase 2);</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">positive















                                         results from our current and planned future clinical trials;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">receipt















                                         of regulatory approvals from applicable regulatory authorities;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">successful















                                         development of our internal manufacturing processes on an ongoing basis and maintenance















                                         of our potential future arrangements with third-party manufacturers for clinical supply;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">commercial















                                         launch of CC8464, if and when approved, whether alone or in collaboration with others;















                                         and</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">acceptance















                                         of CC8464, if and when approved, by patients, the medical community and third-party payors.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><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: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify">If we fail in one or more of















these factors, we could experience significant delays or an inability to successfully commercialize CC8464, which would materially















harm our business. If we do not receive regulatory approvals for CC8464, our business, financial condition, results of operations















and prospects could be materially and adversely affected. Advancing a different compound than CC8464 towards clinical development















would take substantial time and resources and be subject to the same risks as described here for CC8464.</p>































































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































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































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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































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































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































<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Our lead compound, CC8464, is















in early-stage development, and there is no guarantee that the results from prior clinical and preclinical studies will be indicative















of our ability to complete or the results to be obtained in the current or future studies and clinical trials. CC8464 is our only















compound in clinical development and advancing a different compound would require substantial time and resources as well as being















subject to the same risks and uncertainties as described here for CC8464.</i></b></p>































































<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify"></p>































































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify">There is no guarantee















that results of our potential future clinical trials will be positive or that we will be able to complete this or any potential















future clinical trials on the anticipated timelines or at all. Furthermore, research and discoveries by us or others may identify















serious adverse events, undesirable side effects or other unexpected properties of our current and future lead compounds, including















CC8464, that could delay, prevent or cause the withdrawal of regulatory approval, limit the commercial potential, or result in















significant negative consequences following marketing approval.</p>































































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















regulatory authorities may not complete their review processes in a timely manner, or we may not be able to obtain regulatory















approval. Additional delays may result if an FDA Advisory Committee or other regulatory authority recommends non-approval or restrictions















on approval. In addition, we may experience delays or rejections based upon additional government regulation from future legislation















or administrative action, or changes in regulatory authority policy during the period of product development, clinical trials















and the review process.</font></p>































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Regulatory authorities also may approve















a future lead compound for more limited indications than requested or they may impose significant limitations in the form of narrow















indications, warnings or post-approval safety monitoring program. These regulatory authorities may require precautions or contra-indications















with respect to conditions of use or they may grant approval subject to the performance of costly post-marketing clinical trials.















In addition, regulatory authorities may not approve the labeling claims that are necessary or desirable for the successful commercialization















of CC8464. Any of the foregoing scenarios could materially harm the commercial prospects for CC8464 and materially and adversely















affect our business, financial condition, results of operations and prospects.</p>































































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































































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We















may encounter substantial delays in our clinical trials, or we may fail to demonstrate safety and efficacy to the satisfaction















of applicable regulatory authorities.</i></b></font></p>































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify">Before obtaining marketing















approval from regulatory authorities for the sale of our drug candidates, CC8464 included, we must conduct extensive clinical















trials to demonstrate the safety and efficacy of the drug candidate for its intended indications. Clinical trials are expensive,















time consuming and uncertain as to outcome. We cannot guarantee that any clinical trials will be conducted as planned or completed















on schedule, if at all. A failure of one or more clinical trials can occur at any stage of testing. As CC8464 is our only compound















in clinical development, any setback may have a significant negative effect on our business. Events that may prevent successful















or timely completion of clinical development include:</p>































































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">delays















                                         in reaching a consensus with regulatory authorities on trial design;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">delays















                                         in opening sites and recruiting suitable patients to participate in our clinical trials;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">imposition















                                         of a clinical hold by regulatory authorities as a result of a serious adverse event or















                                         concerns with a class of drug candidates, or after an inspection of our clinical trial















                                         operations or trial sites;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">delays















                                         in having patients complete participation in a trial or return for post-treatment follow-up;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">occurrence















                                         of serious adverse events associated with the drug candidate that are viewed to outweigh















                                         its potential benefits; or</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">changes















                                         in regulatory requirements and guidance that require amending or submitting new clinical















                                         protocols.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In















addition, if we had to make manufacturing or formulation changes to CC8464, we would need to conduct additional studies to bridge















our modified lead compound to earlier versions. Clinical trial delays could also shorten any periods during which we may have















the exclusive right to commercialize CC8464 or allow our competitors to bring products to market before we do, which could limit















our potential revenue or impair our ability to successfully commercialize CC8464and may harm our business, financial condition,















results of operations and prospects. Any delays, setbacks or failures in our clinical trials could materially and adversely affect















our business, financial condition, results of operations and prospects.</font></p>































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































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally,















if the results of our clinical trials are inconclusive or if there are safety concerns or serious adverse events associated with















our drug candidates, we may:</font></p>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">be















                                         delayed in obtaining marketing approval, if at all, or be required to conduct additional















                                         confirmatory safety and/or efficacy studies causing additional expenses;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">obtain















                                         approval for indications or patient populations that are not as broad as intended or















                                         desired;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">obtain















                                         approval with labeling that includes significant use or distribution restrictions or















                                         safety warnings;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">be















                                         subject to additional post-marketing testing requirements;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">be















                                         required to perform additional clinical trials to support approval or be subject to additional















                                         post-marketing testing requirements;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">have















                                         regulatory authorities withdraw, or suspend, their approval of the drug or impose restrictions















                                         on its distribution;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">be















                                         subject to the addition of labeling statements, such as warnings or contraindications;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">be















                                         sued; or</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">experience















                                         damage to our reputation.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As CC8464 is our only compound in clinical development,















any setback may have a significant negative effect on our business.</p>































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































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















drug development costs will increase if we experience delays in testing or obtaining marketing approvals. We do not know















whether any of our preclinical studies or clinical trials will begin as planned, need to be restructured or be completed on schedule,















if at all.</i></b></font></p>































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We, the FDA or an Institutional Review















Board may suspend our clinical trials at any time if it appears that we or our collaborators are failing to conduct a trial in















accordance with regulatory requirements, including the FDA&rsquo;s current Good Clinical Practice (&ldquo;GCP&rdquo;), regulations,















that we are exposing participants to unacceptable health risks, or if the FDA finds deficiencies in our IND applications or the















conduct of these trials. Therefore, we cannot predict with any certainty the schedule for commencement and completion of future















clinical trials. If we experience delays in the commencement or completion of our clinical trials, or if we terminate a clinical















trial prior to completion, the commercial prospects of our drug candidates could be negatively impacted, and our ability to generate















revenues from our drug candidates may be delayed. As CC8464 is our only compound in clinical development, any setback may have















a significant negative effect on our business.</p>































































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































































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































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















if we complete the necessary clinical trials, we cannot predict when, or if, we will obtain regulatory approval to commercialize















CC8464 and the approval may be for a narrower indication than we seek.</i></b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify">We cannot commercialize a lead compound















until the appropriate regulatory authorities have reviewed and approved the lead compound. Even if CC8464 meets its safety and















efficacy endpoints in clinical trials, the regulatory authorities may not complete their review processes in a timely manner,















or we may not be able to obtain regulatory approval. Additional delays may result if an FDA Advisory Committee or other regulatory















authority recommends non-approval or restrictions on approval. In addition, we may experience delays or rejections based upon















additional government regulation from future legislation or administrative action, or changes in regulatory authority policy during















the period of product development, clinical trials and the review process.</p>































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































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















also may approve a lead compound for more limited indications than requested or they may impose significant limitations in the















form of narrow indications, warnings or a post-approval safety monitoring program. These regulatory authorities may require precautions















or contra-indications with respect to conditions of use or they may grant approval subject to the performance of costly post-marketing















clinical trials. In addition, regulatory authorities may not approve the labeling claims that are necessary or desirable for the















successful commercialization of CC8464. Any of the foregoing scenarios could materially harm the commercial prospects for CC8464















and materially and adversely affect our business, financial condition, results of operations and prospects as CC8464 is our only















compound in clinical development.</p>































































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































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































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































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































































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>CC8464















may cause undesirable side effects or have other properties that could delay or prevent its regulatory approval, limit the commercial















potential or result in significant negative consequences following any potential marketing approval.</i></b></font></p>































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































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Phase 1 clinical trials have shown















that CC8464 can lead to rashes. In addition to this side effect and possibly others caused by the lead compound, the administration















process or related procedures also can cause adverse side effects. If any such adverse events occur, our clinical trials could















be suspended or terminated. If in the future we are unable to demonstrate that such adverse events were caused by the administration















process or related procedures, the FDA, the European Commission, the EMA or other regulatory authorities could order us to cease















further development of, or deny approval of, CC8464 for any or all targeted indications. Even if we can demonstrate that any serious















adverse events are not product- related, such occurrences could affect patient recruitment or the ability of enrolled patients















to complete the trial. Moreover, if we elect, or are required, to delay, suspend or terminate any clinical trial of CC8464, the















commercial prospects of such lead compound may be harmed and our ability to generate revenues from this lead compound may be delayed















or eliminated. Any of these occurrences may harm our ability to develop other product candidates, and may harm our business, financial















condition and prospects significantly. As CC8464 is our only compound in clinical development, any setback may have a significant















negative effect on our business.</p>































































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































































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Additionally, if CC8464















receives marketing approval, the FDA could require us to adopt a post-approval safety monitoring program to ensure that the benefits















outweigh its risks, which may include, among other things, a medication guide outlining the risks of the product for distribution















to patients and a communication plan to health care practitioners. Furthermore, if we or others later identify undesirable side















effects caused by CC8464, several potentially significant negative consequences could result, including:</p>































<p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 24.5pt"></td><td style="width: 16.25pt">&#9679;</td><TD STYLE="text-align: justify">regulatory authorities may suspend or withdraw approvals















                                         of such lead compound;</td></tr></table>































<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 24.5pt; text-align: justify"></td><TD STYLE="width: 16.25pt; text-align: justify">&#9679;</td><TD STYLE="text-align: justify">regulatory authorities may require additional warnings on the label;</td></tr></table>































<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 24.5pt; text-align: justify"></td><TD STYLE="width: 16.25pt; text-align: justify">&#9679;</td><TD STYLE="text-align: justify">we may be required to change the way a lead compound















                                         is administered or conduct additional clinical trials;</td></tr></table>































<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 24.55pt; text-align: justify"></td><TD STYLE="width: 16.25pt; text-align: justify">&#9679;</td><TD STYLE="text-align: justify">we could be sued and held liable for harm caused to patients; and</td></tr></table>































<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 24.55pt; text-align: justify"></td><TD STYLE="width: 16.25pt; text-align: justify">&#9679;</td><TD STYLE="text-align: justify">our reputation may suffer.</td></tr></table>































































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any















of these events could prevent us from achieving or maintaining market acceptance of CC8464 and could significantly harm our business,















financial condition, results of operations and prospects.</font></p>































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">Additionally, other regulatory















regimes in other geographies, such as the European Union (&ldquo;EU&rdquo;), Australia, China and Japan, where we are initially















targeting our products, may impose similar conditions or post-monitoring requirements as a result of such findings.</p>































<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>































<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">CC8464















is based on a specific mode of administration (dose escalation regime), which makes it difficult to predict the time and cost















of development and of subsequently obtaining regulatory approval.</p>































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The clinical trial requirements of















the FDA, EMA and other regulatory authorities and the criteria these regulators use to determine the safety and efficacy of a















compound vary substantially according to the type, complexity, novelty and intended use and market of such compounds. The regulatory















approval process for novel compounds such as ours can be more expensive and take longer than for other, better known or more extensively















studied compounds.</p>































































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































































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































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































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































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















requirements governing pain medication products have been changing as side effects and the addictive nature of opioids became















more apparent. The regulatory framework for pain medications has been tightened and these changes may affect our programs and















its commercial potential despite our expectations that CC8464 will not show addictive features. Other regulatory regimes that















may impact us include: the EU&rsquo;s European Medicines Agency, China&rsquo;s National Medical Products Administration, Japan&rsquo;s Pharmaceuticals















and Medical Devices Agency, and the Australian National Health and Medical Research Council&rsquo;s Therapeutics Goods Administration.















These are not the only regulatory regimes to which we may be subject in the event we are able to execute on our objectives.</font></p>































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































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















and advisory groups and the new guidelines they promulgate may lengthen the regulatory review process, require us to perform additional















studies, increase our development costs, lead to changes in regulatory positions and interpretations, delay or prevent approval















and commercialization of CC8464 or future lead compounds or lead to significant post-approval limitations or restrictions. As















we advance CC8464, we will be required to consult with these regulatory and advisory groups and comply with applicable guidelines.















If we fail to do so, we may be required to delay or discontinue development of CC8464. These additional processes may result in















a review and approval process that is longer than we otherwise would have expected. Delay or failure to obtain, or unexpected















costs in obtaining, the regulatory approval necessary to bring a potential product to market could decrease our ability to generate















sufficient product revenue, and our business, financial condition, results of operations and prospects would be materially and















adversely affected.</p>































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Even if we obtain regulatory















approval for CC8464, our only compound in clinical development will remain subject to regulatory oversight.</i></b></p>































































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Even if we obtain any regulatory approval















for CC8464, our lead compound, it will be subject to ongoing regulatory requirements for manufacturing, labeling, packaging, storage,















advertising, promotion, sampling, record-keeping and submission of safety and other post-market information. Any regulatory approvals















that we receive for CC8464 may also be subject to a post-approval safety monitoring program, limitations on the approved indicated















uses for which the product may be marketed or to the conditions of approval, or contain requirements for potentially costly post-marketing















testing, including Phase 4 clinical trials, and surveillance to monitor the quality, safety and efficacy of the product. For example,















the holder of an approved NDA is obligated to monitor and report adverse events and any failure of a product to meet the specifications















in the NDA. The holder of an approved NDA also must submit new or supplemental applications and obtain FDA approval for certain















changes to the approved product, product labeling or manufacturing process. Advertising and promotional materials must comply















with FDA rules and are subject to FDA review, in addition to other potentially applicable federal and state laws.</p>































































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































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















addition, product manufacturers and their facilities are subject to payment of user fees and continual review and periodic inspections















by the FDA and other regulatory authorities for compliance with cGMP requirements and adherence to commitments made in the NDA















or foreign marketing application. If we, or a regulatory authority, discover previously unknown problems with a product, such















as adverse events of unanticipated severity or frequency, or problems with the facility where the product is manufactured or disagrees















with the promotion, marketing or labeling of that product, a regulatory authority may impose restrictions relative to that product,















the manufacturing facility or us, including requiring recall or withdrawal of the product from the market or suspension of manufacturing.</font></p>































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















we fail to comply with applicable regulatory requirements following approval of CC8464 or any future lead compound, a regulatory















authority may:</font></p>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">issue















                                         a warning letter asserting that we are in violation of the law;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">seek















                                         an injunction or impose administrative, civil or criminal penalties or monetary fines;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">suspend















                                         or withdraw regulatory approval;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">suspend















                                         any ongoing clinical trials;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">refuse















                                         to approve a pending NDA or comparable foreign marketing application (or any supplements















                                         thereto) submitted by us or our strategic partners;</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">restrict















                                         the marketing or manufacturing of the product;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">seize















                                         or detain the product or otherwise require the withdrawal of the product from the market;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">refuse to permit the import or export of compounds; or</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">refuse















                                         to allow us to enter into supply contracts, including government contracts.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any















government investigation of alleged violations of law could require us to expend significant time and resources in response and















could generate negative publicity. The occurrence of any event or penalty described above may inhibit our ability to commercialize















CC8464 and adversely affect our business, financial condition, results of operations and prospects.</font></p>































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















FDA&rsquo;s policies, and those of equivalent foreign regulatory agencies, may change and additional government regulations may















be enacted that could prevent, limit or delay regulatory approval of CC8464. We cannot predict the likelihood, nature or extent















of government regulation that may arise from future legislation or administrative action, either in the United States or abroad.















If we are slow or unable to adapt to changes in existing requirements or the adoption of new requirements or policies, or if we















are not able to maintain regulatory compliance, we may lose any marketing approval that we may have obtained and we may not achieve















or sustain profitability, which would materially and adversely affect our business, financial condition, results of operations















and prospects.</font></p>































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































<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Even if we obtain and maintain















approval for our lead compound CC8464 from the FDA, we may never obtain approval for them outside of the United States, which















would limit our market opportunities and adversely affect our business.</p>































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Approval of a compound in the United















States by the FDA does not ensure approval of such compound by regulatory authorities in other countries or jurisdictions, and















approval by one foreign regulatory authority does not ensure approval by regulatory authorities in other foreign countries or















by the FDA. Sales of CC8464 or other future lead compounds outside of the United States will be subject to foreign regulatory















requirements governing clinical trials and marketing approval. Even if the FDA grants marketing approval for a compound, comparable















regulatory authorities of foreign countries also must approve the manufacturing and marketing of the compound in those countries.















Approval procedures vary among jurisdictions and can involve requirements and administrative review periods different from, and















more onerous than, those in the United States, including additional preclinical studies or clinical trials. In many countries















outside the United States, a compound must be approved for reimbursement before it can be approved for sale in that country. In















some cases, the price that we intend to charge for our compounds, if approved, is also subject to approval. We intend to submit















a marketing authorization application to the EMA for approval of CC8464in the European Union, but obtaining such approval from















the European Commission following the opinion of the EMA is a lengthy and expensive process. Even if a compound is approved, the















FDA or the European Commission, as the case may be, may limit the indications for which the product may be marketed, require extensive















warnings on the product labeling or require expensive and time-consuming additional clinical trials or reporting as conditions















of approval. Regulatory authorities in countries outside of the United States and the European Union also have requirements for















approval of compounds with which we must comply prior to marketing in those countries. Obtaining foreign regulatory approvals















and compliance with foreign regulatory requirements could result in significant delays, difficulties and costs for us and could















delay or prevent the introduction of our compounds in certain countries.</p>































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































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















in one country may not be accepted by regulatory authorities in other countries. Also, regulatory approval for any of our compounds















may be withdrawn. If we fail to comply with the regulatory requirements, our target market will be reduced and our ability to















realize the full market potential of CC8464 or our future compounds will be harmed and our business, financial condition, results















of operations and prospects will be adversely affected.</p>































































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































































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































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































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































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































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































<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>While we plan to apply for orphan















drug designation for CC8464 in the future, it may not effectively protect us from competition, and we may be unable to obtain















similar designations for our future lead compounds. For instance, if our competitors are able to obtain orphan drug exclusivity















for products that constitute the same drug and treat the same indications as our lead compounds before us, we may not be able















to have competing products approved by the applicable regulatory authority for a significant period of time. To date, we have















not submitted an application for orphan drug designation.</i></b></p>































































<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the application for















our lead compound, CC8464, for the treatment of EM, we also plan to seek orphan drug designation from the FDA. As of the date of















this prospectus, we have not submitted an application for orphan drug designation for CC8464. Under the Orphan Drug Act of 1983,















the FDA may designate a lead compound as an orphan drug if it is intended to treat a rare disease or condition, which is generally















defined as having a patient population of fewer than 200,000 individuals in the United States, or a patient population greater















than 200,000 in the United States where there is no reasonable expectation that the cost of developing the drug will be recovered















from sales in the United States.</p>































































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Generally, if a compound with an orphan drug designation receives the first marketing approval for the indication for which it has such designation,















the product is entitled to a period of marketing exclusivity, which precludes the FDA from approving another marketing application















for a product that constitutes the same drug treating the same indication for that marketing exclusivity period, except in limited















circumstances. If another sponsor receives such approval before we do (regardless of our orphan drug designation), we will be















precluded from receiving marketing approval for our product for the applicable exclusivity period. The applicable period is seven















years in the United States.</p>































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Even though we may obtain















orphan drug exclusivity for CC8464, that exclusivity may not effectively protect the compound from competition because different















drugs can be approved for the same condition. In the United States, even after an orphan drug is approved, the FDA may subsequently















approve another drug for the same condition if the FDA concludes that the latter drug is not the same drug or is clinically superior















in that it is shown to be safer, more effective or makes a major contribution to patient care. In the EU, marketing authorization















may be granted to a similar medicinal product for the same orphan indication if:</p>































































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































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































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         second applicant can establish in its application that its medicinal product, although















                                         like the orphan medicinal product already authorized, is safer, more effective or otherwise















                                         clinically superior;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         holder of the marketing authorization for the original orphan medicinal product consents















                                         to a second orphan medicinal product application; or</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         holder of the marketing authorization for the original orphan medicinal product cannot















                                         supply enough quantities of orphan medicinal product.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><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-top: 0pt; margin-bottom: 0pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If















we are not able to secure an orphan drug designation, or if the exclusivity associated with such designation does not effectively















protect us from competition, our business, financial condition, results of operations and prospects will be adversely affected.</font></p>































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































<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0">FDA designations















to expedite drug development and review, including &ldquo;orphan drug&rdquo; designation, Breakthrough Therapy designation, and/or















Fast Track designation, even if granted for any of our lead compounds, may not lead to a faster development, regulatory review















or approval process and do not increase the likelihood that any of our lead compounds will receive marketing approval in the United















States.</p>































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































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































<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As















with any future application for &ldquo;orphan drug&rdquo; designation for CC8464 from the FDA, there is no assurance that any















of our other compounds that we may develop in the future will receive a similar designation from the FDA or that we will receive















Breakthrough Therapy or Fast Track designations lead compound. Further, even if we do receive favorable designations from the















FDA, the receipt of any of these designations for a lead compound may not result in a faster development process, review or approval















compared to products considered for approval under conventional FDA procedures and does not assure ultimate approval by the FDA.</font></p>































































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































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































<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0">We may expend















our limited resources to pursue a compound or indication and fail to capitalize on lead compounds or indications that may















be more profitable or for which there is a greater likelihood of success.</p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0">We have limited financial















and managerial resources. As a result, we may forego or delay pursuit of opportunities with other lead compounds or for other















indications that later prove to have greater commercial potential. Our resource allocation decisions may cause us to fail to timely















capitalize on viable commercial products or profitable market opportunities. Our spending on current and future research and development















programs and lead compounds for specific indications may not yield any commercially viable products. If we do not accurately evaluate















the commercial potential or target market for a particular lead compound, we may relinquish valuable rights to that lead compound















through collaboration, licensing or other royalty arrangements in cases in which it would have been more advantageous for us to















retain sole development and commercialization rights to such lead compound.</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></p>































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































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































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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































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































<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we are not successful















in discovering, developing and commercializing additional lead compounds, our ability to expand our business and achieve our strategic















objectives would be impaired.</p>































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although a substantial amount of our















effort initially focuses on developing CC8464 towards approval in the US and other countries, an additional component of our strategy















is to discover, develop and potentially commercialize a portfolio of lead compounds to treat orphan diseases and potentially,















non-orphan diseases. Identifying new lead compounds requires substantial technical, financial and human resources, whether any















lead compounds are ultimately identified. We may not be able to identify new molecules with the potential for clinical development















and ultimate approval. Even if we identify lead compounds that initially show promise, we may fail to successfully develop and















commercialize such lead compounds for many reasons, including the following:</p>































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































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in">&#9679;</td><TD STYLE="text-align: justify">the research methodology used may not be successful















                                         in identifying potential lead compounds;</td></tr></table>































<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify">&#9679;</td><TD STYLE="text-align: justify">competitors may develop alternatives that render our















                                         lead compounds obsolete;</td></tr></table>































<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify">&#9679;</td><TD STYLE="text-align: justify">lead compounds we develop may nevertheless be covered















                                         by third parties&rsquo; patents or other exclusive rights;</td></tr></table>































<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify">&#9679;</td><TD STYLE="padding-right: 30pt; text-align: justify">a lead compound may, on















                                         further study, be shown to have harmful side effects or other characteristics that indicate















                                         it is unlikely to be effective or otherwise does not meet applicable regulatory criteria;</td></tr></table>































<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify">&#9679;</td><TD STYLE="text-align: justify">a lead compound may not be capable of being produced















                                         in commercial quantities at an acceptable cost, or at all; and</td></tr></table>































<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify">&#9679;</td><TD STYLE="text-align: justify">a lead compound may not be accepted as safe and effective















                                         by patients, the medical community or third-party payors.</td></tr></table>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.35pt; text-align: justify">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">If we are unsuccessful















in identifying and developing additional lead compounds, our potential for growth may be impaired.</p>































<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>































<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">We face















significant competition in an environment of rapid technological change and the possibility that our competitors may achieve regulatory















approval before us or develop therapies that are more advanced or effective than ours, which may adversely affect our financial















condition and our ability to successfully market or commercialize our lead compound, CC8464.</p>































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">Many of our potential















competitors, alone or with their strategic partners, have substantially greater financial, technical and other resources, such















as larger research and development, clinical, marketing and manufacturing organizations. Mergers and acquisitions in the biotechnology















and pharmaceutical industries may result in even more resources being concentrated among a smaller number of competitors. Our















commercial opportunity could be reduced or eliminated if competitors develop and commercialize products that are safer, more effective,















have fewer or less severe side effects, are more convenient or are less expensive than any compound that we may develop.















Competitors also may obtain FDA or other regulatory approval for their products more rapidly or earlier than we may obtain approval















for ours, which could result in our competitors establishing a strong market position before we are able to enter the market.















Additionally, technologies developed by our competitors may render CC8464 uneconomical or obsolete, and we may not be successful















in marketing CC8464 against competitors.</p>































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">In addition, as a result















of the expiration or successful challenge of our patent rights, we could face more litigation with respect to the validity and/or















scope of patents relating to our competitors&rsquo; products. The availability of our competitors&rsquo; products could limit















the demand, and the price we are able to charge, for any compound that we may develop and commercialize.</p>































































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































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































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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <B><I>On December 23, 2023, we entered into
the Benuvia License Agreement. We are dependent on the Benuvia License Agreement, and the termination of the Benuvia License Agreement
could  have an adverse effect on our business.</I></B> </P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On December 23, 2023, we entered into
the Benuvia License Agreement for the Diclofenac Spray Formulation, the Rizatriptan Spray Formulation and the Ondansetron Spray
Formulation, diversifying our pipeline of non-opioid pain treatment therapies, while adding therapeutic options for related conditions.
The Diclofenac Spray Formulation is patented and has started clinical development in human volunteers. Preliminary pharmacokinetics
suggest that this formulation may have a faster onset of action than oral Diclofenac tablets. Diclofenac is an NSAID that is also
marketed under additional brand names including Voltaren and Cataflam in its pill form. Rizatriptan, whose brand name is Maxalt,
is used for the acute treatment of Migraines as a pill. Ondansetron is an anti-emetic that is available in oral and intravenous
form. Under the terms of the Benuvia License Agreement, Benuvia will be responsible for the manufacturing and supply of the Spray
Formulations, but we will have exclusive, worldwide rights to develop, commercialize and distribute the Spray Formulations. If
we breach the Benuvia License Agreement, Benuvia may be able to terminate it, and as a result of this termination, our business
could be negatively impacted. </P>



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



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B><I>If Benuvia does not properly maintain
or enforce the intellectual property underlying the Benuvia License Agreement, our competitive position and business prospects could
be harmed. Benuvia may also seek to terminate our license.</I></B> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We are a party to the Benuvia License Agreement.
To this end, we are dependent on our license with Benuvia. Our success will depend in part on the ability of Benuvia to obtain, maintain
and enforce its licensed intellectual property. Benuvia may not successfully prosecute any applications for or maintain intellectual
property to which we have licenses, may determine not to pursue litigation against other companies that are infringing such intellectual
property, or may pursue such litigation less aggressively than we would. Without protection for the intellectual property we license,
other companies might be able to offer similar products for sale, which could adversely affect our competitive business position and
harm our business prospects. If we lose any of our right to use third-party intellectual property, it could adversely affect our ability
to commercialize our technologies, products or services, as well as harm our competitive business position and our business prospects. </P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B><I>Rizatriptan is an off-patent
branded generic that can be manufactured and sold by other pharmaceutical manufacturers, which may increase the competition we
face and reduce our ability to diversify our pipeline of non-opioid pain treatment therapies, while adding therapeutic options
for related conditions under the Benuvia License Agreement.</I></B> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Benuvia is an off-patent&nbsp;branded&nbsp;generic&nbsp;pharmaceutical
and is currently not protected by intellectual property rights. As a result, other pharmaceutical companies may sell products
similar to the Rizatriptan Spray Formulation at a lower cost, and this might result in a commensurate&nbsp;loss&nbsp;in expected
sales or require us to lower our prices to compete. If other pharmaceutical companies sell products that are similar to the Rizatriptan
Spray Formulation, we may face additional competition and our business and profitability may be adversely affected, and our ability
diversifying our pipeline of non-opioid pain treatment therapies, while adding therapeutic options for related conditions under
the Benuvia License Agreement may be reduced. </P>



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



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

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































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risks















Related to Manufacturing</font></p>































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































<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-align: justify; text-indent: -0.05pt">Delays















in obtaining regulatory approvals of the process and facilities needed to manufacture CC8464 or any of our lead compounds or disruptions















in our manufacturing process may delay or disrupt our product development and commercialization efforts.</p>































































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-align: justify">Before we can begin















to commercially manufacture CC8464 or any of our lead compounds, whether in a third-party facility or in our own facility, if















established, we must pass a pre-approval inspection of our manufacturing facility by the FDA. A manufacturing authorization must















also be obtained from the appropriate regulatory authorities. The timeframe required for us to obtain such approvals is uncertain.















To obtain approval, we will need to ensure that all our processes, methods and equipment are compliant with cGMP, and perform















extensive audits of vendors, contract laboratories and suppliers. If any of our vendors, contract laboratories or suppliers is















found to be out of compliance with cGMP, we may experience delays or disruptions in manufacturing while we work with these third















parties to remedy the violation or while we work to identify suitable replacement vendors. The cGMP requirements govern quality















control of the manufacturing process and documentation policies and procedures. In complying with cGMP, we will be obligated to















expend time, money and effort in production, record keeping and quality control to assure that the product meets applicable specifications















and other requirements. If we fail to comply with these requirements, we would be subject to possible regulatory action and may















not be permitted to sell any compound that we may develop.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 8.4pt; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-align: justify">In addition, the manufacturing















process used to produce our lead compounds is complex, novel and has not been validated for commercial use. To produce enough















quantities of our lead compounds for future clinical trials and initial US commercial demand, we will need to increase the scale















of our manufacturing process. We employ multiple steps to control our manufacturing process to assure that the process works and















that CC8464 is made strictly and consistently in compliance with the process. Problems with, or deviations from, the manufacturing















process, even if minor, could result in product defects or manufacturing failures that result in lot failures, product recalls,















product liability claims or insufficient inventory. We may encounter problems achieving adequate quantities and quality of clinical-grade















materials that meet FDA, EMA or other applicable standards or specifications with consistent and acceptable production yields















and costs.</p>































































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Any















contamination in our manufacturing process, shortages of raw materials or failure of any of our key suppliers to deliver necessary















components could result in delays in our clinical development or marketing schedules.</i></b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Given















the nature of sterile product manufacturing, there is a risk of contamination. Any contamination could materially adversely affect















our ability to produce CC8464 on schedule and could, therefore, harm our results of operations and cause reputational damage.</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Some















of the raw materials required in our manufacturing process may be derived from biologic sources. Such raw materials are difficult















to procure and may be subject to contamination or recall. A&nbsp;material shortage, contamination, recall or restriction on the















use of biologically derived substances in the manufacture of CC8464 could adversely impact or disrupt the commercial manufacturing















or the production of clinical material, which could materially&nbsp;and adversely affect our development timelines and our business,















financial condition, results of operations and prospects.</font></p>































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><b>Risks Related to Commercialization















of Our Lead Compounds</b></p>































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































<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">If we are unable to expand















our market development capabilities or enter into agreements with third parties to market and sell our lead compounds, we may















be unable to generate any revenue.</p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">We currently do not have a market development















organization. To successfully commercialize CC8464, if approved, we will need to expand our capabilities to promote market access















and build awareness. To successfully commercialize any other products that may result from our development programs, we will need















to further expand our market development organization, either on our own or with a third party. The development of our own market















development team will be expensive and time-consuming and could delay any product launch. Moreover, we cannot be certain that















we will be able to successfully develop this capability. We may enter into collaboration agreements regarding any of our lead















compounds with third parties to utilize their established marketing and distribution capabilities, but we may be unable to enter















into such agreements on favorable terms, if at all. If any future collaborators do not commit sufficient resources to commercialize















our products, or we are unable to develop the necessary capabilities on our own, we will be unable to generate sufficient product















revenue to sustain our business. We compete with many companies that currently have extensive, experienced and well-funded medical















affairs, marketing and sales operations to recruit, hire, train and retain marketing and sales personnel. We also face competition















in our search for third parties to assist us with the sales and marketing efforts of our lead compounds. Without an internal team















or the support of a third party to perform marketing and sales functions, we may be unable to compete successfully against these















more established companies.</p>































































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































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































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our efforts to educate the medical















community and third-party payors on the benefits of our lead compounds may require significant resources and may never be successful.















Such efforts may require more resources than are typically required due to the complexity and uniqueness of our potential products.















If any of our lead compounds is approved but fails to achieve market acceptance among physicians, patients or third-party payors,















we will not be able to generate significant revenues from such product, which could have a material adverse effect on our business,















financial condition, results of operations and prospects.</p>































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































<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the market opportunities















for CC8464 or our future lead compounds are smaller than we believe they are, our revenues may be adversely impacted, and our















business may suffer.</p>































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































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















are currently focusing our research and product development efforts on CC8464 for the management of EM and, potentially, other















fields of neuropathic pain. Our understanding of both the number of people who have EM, as well as the subset of people with this















disease who have the potential to benefit from treatment with CC8464, are based on estimates in published literature. These estimates















may prove to be incorrect and new studies may reduce the estimated incidence or prevalence of this disease. The number of patients















in the United States, the EU and elsewhere may turn out to be lower than expected or these patients may not be otherwise amenable















to treatment with CC8464 or may become increasingly difficult to identify and access, all of which would adversely affect our















business, financial condition, results of operations and prospects.</font></p>































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















there are several factors that could contribute to making the actual number of patients who receive CC8464 less than the potentially















addressable market. These include the increased use of currently available medication for mild cases as physicians gain a better















understanding diagnosis and treatment of EM, the discovery of novel medications for EM and the lack of widespread availability















of, and limited reimbursement for, new therapies in many underdeveloped markets.</font></p>































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































<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Government price controls















or other changes in pricing regulation could restrict the amount that we are able to charge for CC8464, if approved, or any of















our other lead compounds that may be approved in the future, which would adversely affect our revenue and results of operations.</p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We expect that coverage and reimbursement















of pharmaceutical costs may be increasingly restricted both in the U.S. and internationally. The escalating cost of health care















has led to increased pressure on the health care industry to reduce costs. Drug pricing by pharmaceutical companies recently has















come under increased scrutiny and continues to be subject to intense political and public debate in the U.S. and abroad. Government















and private third-party payors have proposed health care reforms and cost reductions. A number of federal and state proposals















to control the cost of health care, including the cost of drug treatments, have been made in the US. Specifically, there have















been several recent U.S. Congressional inquiries and proposed bills designed to, among other things, bring more transparency to















drug pricing, review the relationship between pricing and manufacturer patient programs and reform government program reimbursement















methodologies for drugs. In some international markets, the government controls the pricing, which can affect the profitability















of drugs. Current government regulations and possible future legislation regarding health care may affect coverage and reimbursement















for medical treatment by third-party payors, which may render our lead compounds, if approved, not commercially viable or may















adversely affect our anticipated future revenues and gross margins.</p>































































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































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































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































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















cannot predict the extent to which our business may be affected by these or other potential future legislative or regulatory developments.















However, future price controls or other changes in pricing regulation or negative publicity related to the pricing of pharmaceutical















drugs generally could restrict the amount that we are able to charge for our future products, which would adversely affect our















anticipated revenue and results of operations.</font></p>































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















insurance coverage and reimbursement status of newly approved products is uncertain. Failure to obtain or maintain adequate coverage















and reimbursement for our products, if approved, could limit our ability to market those products and decrease our ability to















generate product revenue.</i></b></font></p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify">We expect that coverage















and reimbursement by government and private payors will be essential for most patients to be able to afford these treatments.















Accordingly, sales of our lead compounds will depend substantially, both domestically and abroad, on the extent to which the costs















of our lead compounds will be paid by health maintenance, managed care, pharmacy benefit and similar healthcare management organizations,















or will be reimbursed by government authorities, private health coverage insurers and other third-party payors. Coverage and reimbursement















by a third- party payor may depend upon several factors, including the third-party payor&rsquo;s determination that use of a product















is:</p>































































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































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a















                                         covered benefit under its health plan;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">safe,















                                         effective and medically necessary;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">appropriate















                                         for the specific patient;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">cost-effective;















                                         and</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">neither















                                         experimental nor investigational.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify">Obtaining coverage and reimbursement















for a product from third-party payors is a time-consuming and costly process that could require us to provide to the payor supporting















scientific, clinical and cost-effectiveness data. We may not be able to provide data sufficient to gain acceptance with respect















to coverage and reimbursement. If coverage and reimbursement are not available, or are available only at limited levels, we may















not be able to successfully commercialize our lead compounds. Even if coverage is provided, the approved reimbursement amount















may not be adequate to realize a sufficient return on our investment.</p>































































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































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















is significant uncertainty related to third-party coverage and reimbursement of newly approved products. In the United States,















third-party payors, including government payors such as the Medicare and Medicaid programs, play an important role in determining















the extent to which new drugs and biologics will be covered and reimbursed. The Medicare and Medicaid programs increasingly are















used as models for how private payors and government payors develop their coverage and reimbursement policies.</font></p>































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















the United States, international operations generally are subject to extensive government price controls and other market regulations















and increasing emphasis on cost-containment initiatives in the European Union, Canada and other countries may put pricing pressure















on us. In many countries, the prices of medical products are subject to varying price control mechanisms as part of national health















systems. It also can take a significant amount of time after approval of a product to secure pricing and reimbursement for such















product in many counties outside the United States. In general, the prices of medicines under such systems are substantially lower















than in the United States. Other countries allow companies to fix their own prices for medical products but monitor and control















company profits. Additional foreign price controls or other changes in pricing regulation could restrict the amount that we are















able to charge for our lead compounds. Accordingly, in markets outside the United States, the reimbursement for our products will















be reduced compared with the United States and may be insufficient to generate commercially reasonable product revenues.</font></p>































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































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































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















increasing efforts by government and third-party payors in the United States and abroad to cap or reduce healthcare costs may















cause such organizations to limit both coverage and the level of reimbursement for new products approved and, as a result, they















may not cover or provide adequate payment for our lead compounds. Payors increasingly are considering new metrics as the basis















for reimbursement rates, such as average sales price, average manufacturer price, and Actual Acquisition Cost. The existing data















for reimbursement based on some of these metrics is relatively limited, although certain states have begun to survey acquisition















cost data for the purpose of setting Medicaid reimbursement rates, and CMS has begun making pharmacy National Average Drug Acquisition















Cost and National Average Retail Price data publicly available on at least a monthly basis. Therefore, it may be difficult to















project the impact of these evolving reimbursement metrics on the willingness of payors to cover candidate products that we or















our partners are able to commercialize. We expect to experience pricing pressures in connection with the sale of any of our product















candidates due to the trend toward managed healthcare, the increasing influence of health maintenance organizations and additional















legislative changes. The downward pressure on healthcare costs in general, particularly prescription drugs and surgical procedures















and other treatments, has become intense. As a result, increasingly high barriers are being erected to the entry of new products















such as ours.</font></p>































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































































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































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















Related to Our Business Operations</b></font></p>































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































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































<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may not be successful















in our efforts to identify or discover additional compounds and may fail to capitalize on programs or compounds that















may be a greater commercial opportunity or for which there is a greater likelihood of success.</p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Beyond the development and commercialization















of CC8464, the future success of our business depends upon our ability to identify, develop and commercialize compounds based















on the platform technology. CC8464 was discovered in our labs using our technologies. Research programs to identify new compounds















will require to invest substantial technical, financial and human resources. We may fail to identify other potential compounds















for clinical development for several reasons. For example, our research may be unsuccessful in identifying potential compounds















or our potential compounds may be shown to have harmful side effects, may be commercially impracticable to manufacture or















may have other characteristics that may make the products unmarketable or unlikely to receive marketing approval.</p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Additionally, because we have limited















resources, we may forego or delay pursuit of opportunities with certain programs or compounds or for indications that later















prove to have greater commercial potential. Our spending on current and future research and development programs may not yield















any commercially viable products. If we do not accurately evaluate the commercial potential for a particular compound, we















may relinquish valuable rights to that compound through strategic collaboration, licensing or other arrangements in cases















in which it would have been more advantageous for us to retain sole development and commercialization rights to such compound.















Alternatively, we may allocate internal resources to a compound in a therapeutic area in which it would have been more advantageous















to enter into a partnering arrangement.</p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If any of these events occur, we may















be forced to abandon our development efforts with respect to a particular compound or fail to develop a potentially successful compound, which could have a material adverse effect on our business, financial condition, results of operations and prospects.</p>































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































<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we are unable to manage















expected growth in the scale and complexity of our operations, our performance may suffer.</p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we are successful in executing our















business strategy, we will need to expand our managerial, operational, financial and other systems and resources to manage our















operations, continue our research and development activities and, in the longer term, build a commercial infrastructure to support















commercialization of any of our lead compounds that are approved for sale. Future growth would impose significant added responsibilities















on members of management. It is likely that our management, finance, development personnel, systems and facilities currently in















place may not be adequate to support this future growth. Our need to effectively manage our operations, growth and lead compounds















requires that we continue to develop more robust business processes and improve our systems and procedures in each of these areas















and to attract and retain enough numbers of talented employees. We may be unable to successfully implement these tasks on a larger















scale and, accordingly, may not achieve our research, development and growth goals.</p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>































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































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































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    <!-- Field: /Page -->































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































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















future success depends on our ability to retain key employees and scientific advisors and to attract, retain and motivate qualified















personnel.</i></b></font></p>















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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Our success is dependent upon certain
key management and technical personnel, the loss of whose services may adversely impact the achievement of our objectives. Our
Interim Chief Executive Officer, Chief Financial Officer, Chief Medical Officer, Treasurer and Corporate Secretary have played
key roles in the founding, management, technology development and/or promotion of the Company. We currently do not hold key man
insurance on our executives. Even if we do seek to obtain such insurance, we cannot assure you that such insurance will be available
on acceptable terms or at all. The loss of the services of either our Interim Chief Executive Officer, Chief Financial Officer,
Chief Medical Officer, Treasurer or Corporate Secretary could have a material adverse effect on our business, financial condition,
and results of operations. </P>



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































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















employ additional staff that are critical to implementing our clinical development and business strategy, and further development















of our products will require that we recruit additional employees or consultants, particularly qualified scientific and technical















personnel. Any inability to retrain and attract key employees or advisors may impede the progress of our research, development















and commercialization objectives which could have a material adverse effect on our business, financial condition, results of operations















and prospects. &nbsp;In addition, failure to succeed in preclinical or clinical trials or applications for marketing approval















may make it more challenging to recruit and retain qualified personnel.</font></p>































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















employees, principal investigators and advisors may engage in misconduct or other improper activities, including non-compliance















with regulatory standards and requirements.</i></b></font></p>































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















are exposed to the risk of fraud or other misconduct by our employees, principal investigators and advisors. Misconduct by these















parties could include intentional failures to comply with FDA regulations or the regulations applicable in the EU and other jurisdictions,















provide accurate information to the FDA, the EMA and other regulatory authorities, comply with healthcare fraud and abuse laws















and regulations in the United States and abroad, report financial information or data accurately or disclose unauthorized activities















to us. Sales, marketing and business arrangements in the healthcare industry are subject to extensive laws and regulations intended















to prevent fraud, misconduct, kickbacks, self-dealing and other abusive practices. These laws and regulations restrict or prohibit















a wide range of pricing, discounting, marketing and promotion, sales commission, customer incentive programs and other business















arrangements. Such misconduct also could involve the improper use of information obtained during clinical trials or interactions















with the FDA or other regulatory authorities, which could result in criminal and civil penalties or sanctions and cause serious















harm to our reputation. It is not always possible to identify and deter employee misconduct, and the precautions we take to detect















and prevent this activity may not be effective in controlling unknown or unmanaged risks or losses or in protecting us from government















investigations or other actions or lawsuits stemming from a failure to comply with these laws or regulations. If any such actions















are instituted against us and we are not successful in defending ourselves or asserting our rights, those actions could have a















significant impact on our business, financial condition, results of operations and prospects, including the imposition of significant















fines, criminal penalties, or other sanctions.</font></p>































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















addition, principal investigators for our clinical trials may serve as scientific advisors or consultants to us from time to time















and receive compensation in connection with such services. Under certain circumstances, we may be required to report some of these















relationships to the FDA. The FDA may conclude that a financial relationship between us and a principal investigator has created















a conflict of interest or otherwise affected interpretation of the trial. The FDA may therefore question the integrity of the















data generated at the applicable clinical trial site and the utility of the clinical trial itself may be jeopardized. This could















result in a delay in approval, or rejection, of our marketing applications by the FDA and may ultimately lead to the denial of















marketing approval of our current and future drug candidates.</font></p>































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































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We















may be subject, directly or indirectly, to federal and state healthcare fraud and abuse laws, false claims laws&nbsp;and health















information privacy and security laws. If we are unable to comply, or have not fully complied, with such laws, we could face substantial















penalties.</i></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If















we obtain FDA approval for CC8464 and begin commercializing it in the United States, our operations will be directly, or indirectly















through our prescribers, customers and purchasers, subject to various federal and state fraud and abuse laws and regulations,















including, without limitation, the federal Anti-Kickback Statute, federal civil and criminal false claims laws and the Physician















Payments Sunshine Act and regulations. These laws will impact, among other things, our proposed sales, marketing and educational















programs. In addition, we may be subject to patient privacy laws by both the federal government and the states in which we conduct















our business as well as other jurisdictions. The laws that will affect our operations include, but are not limited to:</font></p>































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































































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         federal Anti-Kickback Statute, which prohibits, among other things, persons or entities















                                         from knowingly and willfully soliciting, receiving, offering or paying any remuneration















                                         (including any kickback, bribe or rebate), directly or indirectly, overtly or covertly,















                                         in cash or in kind, in return for the purchase, recommendation, leasing or furnishing















                                         of an item or service reimbursable under a federal healthcare program, such as the Medicare















                                         and Medicaid programs. This statute has been interpreted to apply to arrangements between















                                         pharmaceutical manufacturers on the one hand, and prescribers, purchasers and formulary















                                         managers on the other. The PPACA amended the intent requirement of the federal Anti-Kickback















                                         Statute to clarify that a person or entity does not have to have actual knowledge of















                                         this statute or specific intent to violate it;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">federal















                                         civil and criminal false claims laws and civil monetary penalty laws which prohibit,















                                         among other things, individuals or entities from knowingly presenting, or causing to















                                         be presented, claims for payment or approval from Medicare, Medicaid or other government















                                         payors that are false or fraudulent. The PPACA provides that a claim for items or services















                                         resulting from an Anti-Kickback Statute violation is a false claim under the federal















                                         False Claims Act (the &ldquo;FCA&rdquo;). Cases against pharmaceutical manufacturers















                                         support the view that certain marketing practices, including off-label promotion, may















                                         implicate the FCA;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         federal Health Insurance Portability and Accountability Act of 1996 (&ldquo;HIPAA&rdquo;),















                                         which created new federal criminal statutes that prohibit a person from knowingly and















                                         willfully executing a scheme or from making false or fraudulent statements to defraud















                                         any healthcare benefit program, regardless of the payor (e.g., public or private);</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HIPAA,















                                         as amended by the Health Information Technology for Economic and Clinical Health Act















                                         (&ldquo;HITECH&rdquo;), and its implementing regulations, and as amended again by the















                                         final HIPAA omnibus rule, Modifications to the HIPAA Privacy, Security, Enforcement,















                                         and Breach Notification Rules under HITECH and the Genetic Information Nondiscrimination















                                         Act;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">other















                                         modifications to HIPAA, which imposes certain requirements relating to the privacy, security















                                         and transmission of individually identifiable health information without appropriate















                                         authorization by entities subject to the rule, such as health plans, health care clearinghouses















                                         and health care providers;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">federal















                                         transparency laws, including the federal Physician Payment Sunshine Act, that require















                                         certain manufacturers of drugs, devices, biologics and medical supplies for which payment















                                         is available under Medicare, Medicaid or the Children&rsquo;s Health Insurance Program,















                                         with specific exceptions, to report annually to the CMS information related to: (i) payments















                                         or other &ldquo;transfers of value&rdquo; made to physicians and teaching hospitals and















                                         (ii) ownership and investment interests held by physicians and their immediate family















                                         members;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">state















                                         and foreign law equivalents of each of the above federal laws, state laws that require















                                         drug manufacturers to report information related to payments and other transfers of value















                                         to physicians and other healthcare providers or marketing expenditures and state laws















                                         governing the privacy and security of health information in certain circumstances, many















                                         of which differ from each other in significant ways and may not have the same effect,















                                         thus complicating compliance efforts in certain circumstances, such as specific disease















                                         states; and</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">state















                                         and foreign laws that govern the privacy and security of health information in some circumstances,















                                         many of which differ from each other in significant ways and often are not preempted















                                         by HIPAA, thus complicating compliance efforts.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































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















of the breadth of these laws and the narrowness of the statutory exceptions and safe harbors available, it is possible that some















of our business activities could be subject to challenge under one or more of such laws. If our operations are found to be in















violation of any of the laws described above or any other government regulations that apply to us, we may be subject to penalties,















including civil and criminal penalties, damages, fines, exclusion from participation in government health care programs, such















as Medicare and Medicaid, imprisonment and the curtailment or restructuring of our operations, any of which could adversely affect















our ability to operate our business and our results of operations.</font></p>































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































































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































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















to ensure that our business arrangements with third parties will comply with applicable healthcare laws and regulations will involve















substantial costs. It is possible that governmental authorities will conclude that our business practices may not comply with















current or future statutes, regulations or case law involving applicable fraud and abuse or other healthcare laws and regulations.















If our operations are found to be in violation of any of these laws or any other governmental regulations that may apply to us,















we may be subject to significant civil, criminal and administrative penalties, damages, fines, imprisonment, exclusion of products















from government funded healthcare programs, such as Medicare and Medicaid, and the curtailment or restructuring of our operations.</font></p>































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















risk of our being found in violation of these laws is increased by the fact that many of them have not been fully interpreted















by the regulatory authorities or the courts, and their provisions are open to a variety of interpretations. Any action against















us for violation of these laws, even if we successfully defend against it, could cause us to incur significant legal expenses















and divert our management&rsquo;s attention from the operation of our business. The shifting compliance environment and the need















to build and maintain a robust and expandable systems to comply with multiple jurisdictions with different compliance and/or reporting















requirements increases the possibility that a healthcare company may run afoul of one or more of the requirements.</font></p>































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















we fail to comply with environmental, health and safety laws and regulations, we could become subject to fines or penalties or















incur costs that could have a material adverse effect on the success of our business.</i></b></font></p>































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















are subject to numerous environmental, health and safety laws and regulations, including those governing laboratory procedures















and the generation, handling, use, storage, treatment, manufacture, transportation and disposal of, and exposure to, hazardous















materials and wastes, as well as laws and regulations relating to occupational health and safety. Our operations involve the use















of hazardous and flammable materials, including chemicals and biologic materials. Our operations also produce hazardous waste















products. We generally contract with third parties for the disposal of these materials and wastes. We cannot eliminate the risk















of contamination or injury from these materials. In the event of contamination or injury resulting from our use of hazardous materials,















we could be held liable for any resulting damages, and any liability could exceed our resources. We also could incur significant















costs associated with civil or criminal fines and penalties. We do not carry specific biological or hazardous waste insurance















coverage, and our property, casualty and general liability insurance policies specifically exclude coverage for damages and fines















arising from biological or hazardous waste exposure or contamination. Accordingly, in the event of contamination or injury, we















could be held liable for damages or be penalized with fines in an amount exceeding our resources, and our clinical trials or regulatory















approvals could be suspended.</font></p>































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















we maintain workers&rsquo; compensation insurance for certain costs and expenses, we may incur due to injuries to our employees















resulting from the use of hazardous materials or other work-related injuries, this insurance may not provide adequate coverage















against potential liabilities. We do not maintain insurance for toxic tort claims that may be asserted against us in connection















with our storage or disposal of biologic, hazardous or radioactive materials.</font></p>































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















also may incur substantial costs to comply with current or future environmental, health and safety laws and regulations, which















have tended to become more stringent over time. These current or future laws and regulations may impair our research, development















or production efforts. Failure to comply with these laws and regulations also may result in substantial fines, penalties or other















sanctions or liabilities, which could materially adversely affect our business, financial condition, results of operations and















prospects.</font></p>































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















global economic conditions could adversely affect our business, financial condition or results of operations.</i></b></font></p>































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































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















results of operations could be adversely affected by general conditions in the global economy and in the global financial markets,















including conditions that are outside of our control, such as the impact of health and safety concerns, including SARS-CoV-2 (severe















acute respiratory syndrome coronavirus 2) (&ldquo;COVID-19&rdquo;) and the Omicron COVID-19 variant, as well as the recent inflation















in the United States, foreign and domestic government sanctions imposed on Russia as a result of its recent invasion of Ukraine,















and other disruptions to global supply chains. Each of these events has caused or may continue to result in extreme volatility















and disruptions in the capital and credit markets. A severe or prolonged economic downturn, whether due to inflationary pressures















or otherwise, could result in a variety of risks to our business, including weakened demand for our lead compounds and our ability















to raise additional capital when needed on acceptable terms, if at all. A weak or declining economy could strain our suppliers,















possibly resulting in supply disruption, or cause delays in payments for our services by third-party payors or our collaborators.















Any of the foregoing could harm our business and we cannot anticipate all the ways in which the current economic climate and financial















market conditions could adversely impact our business.&nbsp;</FONT></p>































































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































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















                                         developments affecting the financial services industry, such as actual events or concerns















                                         involving liquidity, defaults or non-performance by financial institutions or transactional















                                         counterparties, could adversely affect our current and projected business operations















                                         and financial condition and results of operations.</i></b></font> </p>































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































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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Events
involving limited liquidity, defaults, non-performance or other adverse developments that affect financial institutions, transactional
counterparties or other companies in the financial services industry or the financial services industry generally or concerns
or rumors about any events of these kinds or other similar risks, have in the past and may in the future lead to market-wide liquidity
problems. Most recently, on March 10, 2023, Silicon Valley Bank (&ldquo;SVB&rdquo;) was closed by the California Department of
Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (&ldquo;FDIC&rdquo;) as receiver.
Similarly, on March 12, 2023, Signature Bank and Silvergate Capital Corp. were each swept into receivership. Although a statement
by the Department of the Treasury, the Federal Reserve and the FDIC indicated that all depositors of SVB would have access to
all of their money after only one business day of closure, including funds held in uninsured deposit accounts, borrowers under
credit agreements, letters of credit and certain other financial instruments with SVB, Signature Bank or any other financial institution
that is placed into receivership by the FDIC may be unable to access undrawn amounts thereunder.</FONT> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Although















we regularly assess our banking relationships and the location of the assets held in the company&rsquo;s account as we believe necessary















or appropriate, our access to funding sources and other credit arrangements could be significantly impaired by factors that affect















the financial services industry or economy in general. These factors could include, among others, events such as liquidity constraints















or failures, the ability to perform obligations under various types of financial, credit or liquidity agreements or arrangements,















disruptions or instability in the financial services industry.</font> </p>































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































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































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































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































<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify">A pandemic,















epidemic, or outbreak of an infectious disease, such as COVID-19, may materially and adversely affect our business and our financial















results and could cause a disruption to the development of our compounds.</p>































































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Public health crises such as pandemics















or similar outbreaks could adversely impact our business. In December 2019, COVID-19 surfaced in Wuhan, China and has since spread















worldwide, including to New Jersey where our primary office and laboratory space is located. In response to the COVID-19 pandemic,















we reduced staff and slowed down development activities as capital and testing options available to us were more limited. The















extent to which COVID-19 will impact our future operations or those of our third-party partners, including our clinical trial















operations, will also depend on future developments, which are highly uncertain and cannot be predicted with confidence, including















the duration of the pandemic, adverse impacts of the Omicron COVID-19 variant or other COVID-19 variants, new information that















will emerge concerning the severity of COVID-19 and the actions to contain COVID-19 or treat its impact, among others. </p>































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































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















continued spread of COVID-19 globally could adversely impact our preclinical or clinical trial operations, including our ability















to recruit and retain patients and principal investigators and site staff who, as healthcare providers, may have heightened exposure















to COVID-19. COVID-19 may also affect employees of third-party CROs located in affected geographies that we rely upon to carry















out our clinical trials.</font></p>































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































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































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















addition, the patient populations that our lead and other compounds target may be particularly susceptible to COVID-19, which















may make it more difficult for us to identify patients able to enroll in our future clinical trials and may impact the ability















of enrolled patients to complete any such trials. Any negative impact COVID-19 has to patient enrollment or treatment, or the















execution of our lead compounds could cause costly delays to clinical trial activities, which could adversely affect our ability















to obtain regulatory approval for and to commercialize our lead compounds, increase our operating expenses, and have a material















adverse effect on our financial results.</FONT></P>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 11, 2023, the United States government declared an end to the COVID-19 pandemic, but the negative effects from COVID-19 described
above may still be present for the foreseeable future.</FONT> </P>































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















internal computer systems, or those of our collaborators or other contractors or consultants, may fail or suffer security breaches,















which could result in a material disruption of our product development programs.</i></b></font></p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-align: justify">Our internal computer systems















and those of our current and any future collaborators and other contractors or consultants are vulnerable to damage from computer















viruses, unauthorized access, natural disasters, terrorism, war and telecommunication and electrical failures. While we have not















experienced any such material system failure, accident or security breach to date, if such an event were to occur and cause interruptions















in our operations, it could result in a material disruption of our development programs and our business operations, whether due















to a loss of our trade secrets or other proprietary information or other similar disruptions. For example, the loss of clinical















trial data from completed or future clinical trials could result in delays in our regulatory approval efforts and significantly















increase our costs to recover or reproduce the data. To the extent that any disruption or security breach were to result in a















loss of, or damage to, our data or applications, or inappropriate disclosure of confidential or proprietary information, we could















incur liability, our competitive position could be harmed, and the further development and commercialization of our compounds















could be delayed.</p>































































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Cyber-security















incidents, including data security breaches or computer viruses, could harm our business by disrupting our delivery of services,















damaging our reputation or exposing us to liability.</i></b></font></p>































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















receive, process, store and transmit, often electronically, confidential data of others. Unauthorized access to our computer systems















or stored data could result in the theft or improper disclosure of confidential information, the deletion or modification of records,















or could cause interruptions in our operations. These cyber-security risks increase when we transmit information from one location















to another, including transmissions over the Internet or other electronic networks. Despite implemented security measures, our















facilities, systems, and procedures, and those of our third-party service providers, may be vulnerable to security breaches, acts















of vandalism, software viruses, misplaced or lost data, programming and/or human errors, or other similar events which may disrupt















our delivery of services or expose the confidential information of our customers and others. Any security breach involving the















misappropriation, loss or other unauthorized disclosure or use of confidential information of others, whether by us or a third















party, could: (i) subject us to civil and criminal penalties; (ii) have a negative impact on our reputation; or (iii) expose us















to liability to our customers, third parties or government authorities.</font></p>































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Product















liability lawsuits against us could cause us to incur substantial liabilities and to limit commercialization of any products that















we may develop.</i></b></font></p>































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































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































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















business exposes us to significant potential product liability risks that are inherent in the development, manufacturing, marketing















and sale of human device and drug products. Product liability claims could delay or prevent completion of its development programs,















clinical or otherwise. If we succeed in marketing and selling products, such claims could result in a recall of any products or















a limitation or other change in the indications for which they may be used. If we cannot successfully defend ourselves against















claims that our compounds or drugs caused injuries, we will incur substantial liabilities. Depending on their merit or eventual outcome,















liability claims may result in:&nbsp;</FONT></p>































































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































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">decreased















                                         demand for any product candidates or drugs that we may develop;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">injury















                                         to our reputation and significant negative media attention;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">withdrawal















                                         of clinical trial participants;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">significant















                                         costs to defend the related litigation;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">substantial















                                         monetary awards paid to trial participants or patients;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">loss















                                         of revenue;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">reduced















                                         resources of our management to pursue our business strategy; and</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         inability to commercialize any products that we may develop.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In















addition, we currently do not have product liability insurance, but plan to obtain such insurance at appropriate levels prior















to initiating studies in humans or clinical trials and prior to marketing and selling any drug or device products. Any insurance















we obtain may not provide sufficient coverage against potential liabilities. These liabilities could prevent or interfere with















our product development and commercialization efforts. Furthermore, if we were unable or otherwise failed to obtain and maintain















sufficient insurance at a reasonable cost to protect it against any such liabilities, that inability could have a material adverse















effect on its business.</FONT></P>

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































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































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















Related to Our Intellectual Property</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we are















unable to obtain and maintain adequate U.S. and foreign patent protection for our lead compounds, including CC8464, or if the















scope of the patent protection obtained is not sufficiently broad, our competitors could develop and commercialize products and















technologies similar or identical to ours, and our ability to successfully commercialize CC8464 and any of our other current or















future lead compounds may be adversely affected.</p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our success depends, in large part,















on our ability to obtain and maintain patent protection in the United States and other countries with respect to CC8464, additional















lead compounds in our product pipeline, and our institutional knowledge. The patent prosecution process is expensive, time- consuming















and complex. In particular, we may not be able to file, prosecute, maintain, and/or enforce all necessary or desirable patent















applications and issued patents at a reasonable cost or in a timely manner.</p>































































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font>&nbsp;<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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We















have secured U.S. Patent No. 9,458,118 (the &ldquo;CC8464 Patent&rdquo;), covering the chemical composition and use of our clinical-stage















NaV1.7 blocker. Apart from the CC8464 Patent, we have filed multiple patent applications in foreign jurisdictions, including China,















Japan and Europe. It is possible that some of our pending patent applications in foreign jurisdictions will not result in issued















patents in a timely fashion or at all, and even if we are granted the patents we are currently pursuing in foreign jurisdictions,















the patents may not be issued in a form that will provide us with the full scope of protection that we desire, they may not prevent















competitors or other third parties from competing with us, and/or they may not otherwise provide us with a competitive advantage.















Our competitors, or other third parties, may be able to circumvent our patents by developing similar or alternative technologies















or products in a non-infringing manner. For example, there is no assurance that the CC8464 Patent, or any other patent that we















may be granted, will prevent third parties from developing competing technologies. Moreover, our patent estate, including the















CC8464 Patent, does not preclude third parties from obtaining intellectual property rights that could interfere with our freedom















to use our platform for other indications. Even assuming patents issue from our pending and future patent applications, changes















in either the patent laws or interpretation of the patent laws in the United States and foreign jurisdictions may diminish the















value of our patents or narrow their scope of protection.</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We may not be able to protect our intellectual property or enforce our intellectual property rights adequately throughout















the world.&nbsp;</i></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filing















and prosecuting patent applications on CC8464 and future lead compounds, current and future innovations related to our technology,















and our institutional knowledge in all countries throughout the world would be prohibitively expensive, and intellectual property















protections available in some countries outside the United States, and the enforceability thereof, may differ in scope from those















in the United States. Thus, in some cases, we will not seek to obtain patent protection for certain technologies in some jurisdictions















outside the United States. In addition, the laws of some foreign countries do not protect intellectual property to the same extent















as federal and state laws in the United States. Consequently, we may not be able to prevent third parties from utilizing our inventions















in all countries outside the United States, even in jurisdictions where we do pursue patent protection. Competitors may use our















technologies in jurisdictions where we have not pursued and obtained patent protection to develop their own products and, further,















may export otherwise infringing products to territories where we have patent protection, but enforcement is not as strong as that















in the United States. These products may compete with our lead compounds, and our patents or other intellectual property rights















may not be effective or sufficient to prevent them from competing.</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Many















companies have encountered significant problems in protecting intellectual property and enforcing intellectual property rights















in foreign jurisdictions. The legal systems of certain countries, particularly certain developing countries, do not favor the















enforcement of patents, trade secrets and other intellectual property protections, particularly those relating to biotechnology















products and those of foreign entities. Such challenges in enforcing rights in these countries could make it difficult for us















to stop the infringement of our patents, if pursued and obtained, or marketing of competing products in violation of our proprietary















rights generally. Proceedings to enforce our current and future patent rights in foreign jurisdictions could result in substantial















costs and may divert our efforts and attention from other aspects of our business; could put our asserted patents at risk of being















invalidated or interpreted narrowly; could put any future patent applications, including continuation and divisional applications,















at risk of not issuing; and could provoke third parties to assert their own patent claims against us or to attack the validity















of our other patents. We may not prevail in any lawsuits that we initiate, and the damages or other remedies awarded, if any,















may not be commercially meaningful. Accordingly, our efforts to enforce any intellectual property rights around the world stemming















from intellectual property that we develop may be inadequate to obtain a significant commercial advantage in these foreign jurisdictions.&nbsp;</font></p>































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">















<b><i>Third parties may initiate legal proceedings alleging that we are infringing their intellectual property rights, the outcome















of which would be uncertain and could have a material adverse effect on the success of our business.&nbsp;</i></b></font></p>































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT>Our commercial success depends upon our ability (and the ability of any potential future collaborators) to develop,

manufacture, market and sell CC8464 and future lead compounds, and to freely use our proprietary technologies (<I>e.g.</I>, without infringing

the intellectual property rights of others). Many companies and institutions have filed, and continue to file, patent applications related

to various aspects of pain management and opioid sparing technology. Because patent applications can take many years to issue, may be

confidential for 18 months or more after filing, and can be revised before and after issuance, there may be issued patents and patent

applications now pending which may later result in issued patents that a third party asserts are infringed by the manufacture, use, sale,

or importation of our products. The biotechnology and pharmaceutical industries are characterized by extensive and complex litigation

regarding patents and other intellectual property rights. Our competitors or other third parties may assert infringement claims against

us, alleging that our therapeutics, manufacturing methods, formulations or administration methods are covered by their patents. Moreover,

we may face patent infringement claims from non-practicing entities that have no relevant product revenue, and against whom our patent

portfolio may therefore have no deterrent effect.</p>















<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Third parties may initiate















legal or administrative proceedings attacking the validity of our patents protecting CC8464 and future lead compounds the outcome















of which would be uncertain and could have a material adverse effect on the success of our business.</p>































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may in the future become party to,















or be threatened with, adversarial proceedings or litigation regarding intellectual property rights with respect to CC8464 or















any other lead compound, or related technologies, including, for example, interference proceedings, post grant review challenges,















and <i>inter partes</i> review before the United States Patent and Trademark Office (&ldquo;USPTO&rdquo;). For example, a third















party may bring an <i>inter partes </i>review challenging our patents and any future patent that may be granted to us. Such proceedings















often are used as a tactic by defendants in a patent litigation suit to threaten a patentee&rsquo;s patents, both asserted in















the litigation and unasserted. Thus, a competitor, either in response to litigation initiated by us or in the ordinary course,















may threaten the validity, enforceability, and breadth of our patents which could have a negative impact on our business and render















our patents or other intellectual property rights ineffective or insufficient to prevent competition.</p>































































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">















<b><i>Instituting and defending against patent and other types of intellectual property litigation and administrative proceedings















could cause us to spend substantial resources, distract our personnel from their normal responsibilities, and have uncertain outcomes.&nbsp;</i></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">















Patent and other types of intellectual property litigation and administrative proceedings can involve complex factual and legal















questions, and their outcomes are uncertain. A finding of infringement could prevent us from manufacturing and commercializing















our technologies, including CC8464, or force us to cease some or all our business operations. If we are found, or believe there















is a risk that we may be found, to infringe a third party&rsquo;s valid and enforceable intellectual property rights, we could















be required (or may choose) to obtain a license from such a third party to continue developing, manufacturing and marketing our















technologies. However, we may not be able to obtain any required license on commercially reasonable terms, if at all. Even if















we were able to obtain a license, it could be non-exclusive, thereby giving our competitors and other third parties access to















the same technologies licensed to us, and further, it could require us to make substantial licensing and royalty payments. We















could be forced, including by court order, to cease developing, manufacturing and commercializing the infringing technologies,















including CC8464. We also could be found liable for monetary damages, including treble damages and attorneys&rsquo; fees if we















are found to have willfully infringed a patent or other intellectual property right. Claims that we have misappropriated the confidential















information or trade secrets of third parties could have a similar negative impact on our business, financial condition, results















of operations and prospects.&nbsp;</font></p>































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Litigation















or other legal or administrative proceedings relating to intellectual property claims, with or without merit, is unpredictable















and generally expensive and time consuming. Competitors may infringe our current or future patents, should such patents issue,















or we may be required to defend against claims of infringement or other unauthorized use of third-party intellectual property















or third-party attacks against our intellectual property rights. Even if resolved in our favor, litigation or other legal proceedings















relating to intellectual property may cause us to incur significant expenses and could distract our scientific and management















personnel from their normal responsibilities. Furthermore, because of the substantial amount of discovery required in connection















with intellectual property litigation and administrative proceedings, there is a risk that some of our confidential information















could be compromised by disclosure during this type of litigation despite our attempts to prevent such disclosure. In addition,















there could be public announcements of the results of hearings, motions, or other interim proceedings or developments and, if















securities analysts or investors perceive these results to be negative, it could have a substantial adverse effect on the price















of our Common Stock. Such litigation or proceedings could substantially increase our operating losses and reduce the resources















available for development activities or any future sales, marketing, or distribution activities.&nbsp;</font> </p>































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We















may not have sufficient financial or other resources to adequately conduct such litigation or proceedings. Some of our competitors















may be able to sustain the costs of such litigation or proceedings more effectively than we can because of their greater financial















resources. Accordingly, despite our efforts, we may not be able to prevent third parties from infringing, misappropriating, or















successfully challenging our intellectual property rights. Uncertainties resulting from the initiation and continuation of patent















litigation or other proceedings could have a material adverse effect on our ability to compete in the marketplace.&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Changes















in United States patent law and its administrative and judicial interpretation could diminish the value of patents in general,















thereby impairing our ability to protect our lead compounds.</i></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Patent















reform legislation could increase the uncertainties and costs surrounding the prosecution of patent applications and the enforcement















or defense of issued patents. As patent reform legislation can inject serious uncertainty into the patent prosecution and litigation















processes, it is not clear what impact future patent reform legislation will have on the operation of our business. However, such















future legislation, and its implementation, could increase the uncertainties and costs surrounding the prosecution of our patent















applications and the enforcement or defense of any issued patents, all of which could have a material adverse effect on our business,















financial condition, results of operations and prospects.&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Moreover,















the patent positions of companies engaged in the development and commercialization of pharmaceuticals are particularly uncertain.















We cannot assure you that our efforts to seek patent protection for CC8464 and future lead compounds will not be negatively impacted















by the future court decisions or changes in guidance or procedures issued by the USPTO. These decisions, and any guidance issued















by the USPTO (or changes thereto), could have a material adverse effect on our existing patent portfolio and our ability to protect















and enforce our intellectual property rights in the future.</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Intellectual















property rights and regulatory exclusivity rights do not necessarily address all potential threats.</i></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















degree of future protection afforded by our intellectual property rights is uncertain because intellectual property rights have















limitations and may not adequately protect our business or permit us to maintain our competitive advantage. For example:</font></p>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><td><P STYLE="margin: 0pt 0; text-align: justify">others















                                         may be able to make products that are similar to our <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">current















                                         and future lead compound but that are not covered by the claims of our current patents















                                         or of patents that we may own or license in the future;</font></p>















































</td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we,















                                         or any future license partners or collaborators, might not have been the first to file















                                         patent applications covering certain aspects of the concerned technologies;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">others















                                         may independently develop similar or alternative technologies, or duplicate any of our















                                         technologies, potentially without falling within the scope of our current or future issued















                                         claims, thus not infringing our intellectual property rights;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">it















                                         is possible that our filed or future patent applications will not lead to issued patents;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">issued















                                         patents to which we currently hold rights or to which we may hold rights in the future















                                         may be held invalid or unenforceable, including as a result of legal challenges by our















                                         competitors;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">others















                                         may have access to any future intellectual property rights licensed to us on a non-exclusive















                                         basis;</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         competitors might conduct research and development activities in countries where we have















                                         or intend to pursue patent rights, and then use the information learned from such activities















                                         to develop competitive products for sale in our major commercial markets where we do















                                         not have patent rights;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we















                                         may not develop additional proprietary technologies that are patentable;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         patents or other intellectual property rights of others may have an adverse effect on















                                         our business; and</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we















                                         may choose not to file a patent application covering certain of our trade secrets or















                                         know-how, and a third party may subsequently file a patent covering such intellectual















                                         property.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Should















any of these events occur, they could significantly harm our business, financial condition, results of operations and prospects.</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If















we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed. Our















reliance on third parties requires us to share our trade secrets, which increases the possibility that a competitor will discover















them or that our trade secrets will be misappropriated or disclosed.</i></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In















addition to patent protection, we also rely on the protection of trade secrets, know-how and confidential and proprietary information.















The disclosure of our trade secrets would impair our competitive position and could harm our business. However, trade secrets















are difficult to protect.&nbsp; To maintain the confidentiality of trade secrets and proprietary information, we rely in part















on confidentiality agreements with our employees, consultants, outside scientific collaborators, sponsored researchers, and/or















other advisors, and inventions agreements with employees, consultants, and advisors, to protect our trade secrets and other proprietary















information.&nbsp; These agreements require that all confidential information developed by the individual or made known to the















individual by us during the course of the individual&rsquo;s relationship with us be kept confidential and not disclosed to third parties.















Our agreements with employees and consultants also provide that inventions conceived by the individual in the course of rendering















services to us will be our exclusive property. Despite these efforts, we cannot provide any assurances that these agreements may















not effectively prevent disclosure of confidential information and may not provide an adequate remedy in the event of unauthorized















disclosure of confidential information. In addition, others may independently discover our trade secrets and proprietary information.</font></p>































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















the event of unauthorized use or disclosure of trade secrets or proprietary information, these agreements, even if obtained, may















not provide sufficient protection for our trade secrets or other confidential information. Further, to the extent that our employees,















consultants or contractors use technology or know-how owned by others in their work for the Company, disputes may arise as to















the rights in related inventions. This can be of particular concern with respect to university collaborators with us, who typically















have pre-existing obligations to their universities to assign intellectual property rights, which university rights generally















are superior to assignment rights that we might receive from such individuals.</FONT></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Enforcing















a claim that a party illegally disclosed or misappropriated a trade secret is difficult, expensive and time-consuming, and the















outcome is unpredictable. In addition, some courts inside and outside the United States are less willing or unwilling to protect















trade secrets. Moreover, third parties may still obtain this information or may come upon this or similar information independently,















and we would have no right to prevent them from using that technology or information to compete with us. Trade secrets will over















time be disseminated within the industry through independent development, the publication of journal articles, and the movement















of personnel skilled in the art from company to company or academic to industry scientific positions. Though our agreements with















third parties typically restrict the ability of our advisors, employees, collaborators, licensors, suppliers, third-party contractors,















and/or consultants to publish data potentially relating to our trade secrets, our agreements may contain certain limited publication















rights. If any of our trade secrets were to be lawfully obtained or independently developed by a competitor, we would have no















right to prevent such competitor from using that technology or information to compete with us, which could harm our competitive















position. Because from time to time we expect to rely on third parties in the development, manufacture, and distribution of our















products and provision of our services, we must, at times, share trade secrets with them. Despite employing the contractual and















other security precautions described above, the need to share trade secrets increases the risk that such trade secrets become















known by our competitors, are inadvertently incorporated into the technology of others, or are disclosed or used in violation















of these agreements. If any of these events occurs or if we otherwise lose protection for our trade secrets, the value of this















information may be greatly reduced and our competitive position would be harmed. If we do not apply for patent protection prior















to such publication or if we cannot otherwise maintain the confidentiality of our proprietary technology and other confidential















information, then our ability to obtain patent protection or to protect our trade secret information may be jeopardized.</font></p>































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































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B>Risks Related to this Offering and
Ownership of our Common Stock</B> </P>































































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































<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <b><i>The market prices and trading















volume&nbsp;of our shares of Common Stock may experience rapid and substantial price volatility, which could cause purchasers















of our Common Stock to incur substantial losses.</i></b> </p>































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Recently, the market prices and trading volume of shares of Common Stock of other small publicly traded
companies with a limited number of shares available to purchasers, have experienced rapid and substantial price volatility unrelated
to the financial performance of those companies.&nbsp; Similarly, subsequent to the offering of IPO Shares pursuant to the IPO
Prospectus, shares of our Common Stock may experience similar rapid and substantial price volatility unrelated to our financial
performance, which could cause purchasers of our Common Stock to incur substantial losses, which may be unpredictable and not bear
any relationship to our business and financial performance. Extreme fluctuations in the market price of our Common Stock may occur
in response to strong and atypical retail investor interest, including on social media and online forums, the direct access by
retail investors to broadly available trading platforms, the amount and status of short interest in our Common Stock and our other
securities, access to margin debt, trading in options and other derivatives on our shares of Common Stock and any related hedging
and other trading factors.&nbsp; </P>

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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> If there is extreme market volatility















and trading patterns in our Common Stock, it may create several risks for investors, including the following: </p>































































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr style="vertical-align: top">















    <td style="width: 0.25in"> &nbsp; </td>















    <td style="width: 0.25in; font-size: 10pt"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="font-size: 10pt; text-align: justify"> <font style="font-size: 10pt">the market price of our Common Stock may















    experience rapid and substantial increases or decreases unrelated to our operating performance or prospects, or macro or industry















    fundamentals;</font> </td></tr>















</table>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <TD STYLE="width: 0.25in; font-size: 10pt; text-align: justify"> &nbsp; </td>















    <TD STYLE="vertical-align: top; width: 0.25in; font-size: 10pt; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: justify"> <font style="font-size: 10pt">if our future market















    capitalization reflects trading dynamics unrelated to our financial performance or prospects, purchasers of our Common Stock















    could incur substantial losses as prices decline once the level of market volatility has abated;</font> </td></tr>















</table>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <TD STYLE="width: 0.25in; font-size: 10pt; text-align: justify"> &nbsp; </td>















    <TD STYLE="vertical-align: top; width: 0.25in; font-size: 10pt; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: justify"> <font style="font-size: 10pt">if the future market















    price of our Common Stock declines, purchasers of shares of Common Stock may be unable to resell such shares















    at or above the price at which they acquired them. We cannot assure such purchasers that the market of our Common Stock will















    not fluctuate or decline significantly in the future, in which case investors could incur substantial losses.</font> </td></tr>















</table>















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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Further, we may incur rapid and substantial















increases or decreases in our Common Stock price in the foreseeable future that may not coincide in timing with the disclosure















of news or developments by or affecting us. Accordingly, the market price of our Common Stock may fluctuate dramatically, and















may decline rapidly, regardless of any developments in our business. Overall, there are various factors, many of which are beyond















our control, that could negatively affect the market price of our Common Stock or result in fluctuations in the price or trading















volume of our Common Stock, including: </p>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <td style="width: 0.25in; text-align: justify"> &nbsp; </td>















    <td style="vertical-align: top; width: 0.25in; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; text-align: justify"> <font style="font-size: 10pt">actual or anticipated variations in















    our annual or quarterly results of operations, including our earnings estimates and whether we meet market expectations with















    regard to our earnings;</font> </td></tr>















</table>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <TD STYLE="width: 0.25in; text-align: justify"> &nbsp; </td>















    <TD STYLE="vertical-align: top; width: 0.25in; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; text-align: justify"> <font style="font-size: 10pt">our current inability to pay dividends















    or other distributions;</font> </td></tr>















</table>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <TD STYLE="width: 0.25in; text-align: justify"> &nbsp; </td>















    <TD STYLE="vertical-align: top; width: 0.25in; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; text-align: justify"> <font style="font-size: 10pt">publication of research reports by analysts















    or others about us or the industry in which we operate, including the pharmaceutical or biotechnology industry which may be















    unfavorable, inaccurate, inconsistent or not disseminated on a regular basis;</font> </td></tr>















</table>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <TD STYLE="width: 0.25in; text-align: justify"> &nbsp; </td>















    <TD STYLE="vertical-align: top; width: 0.25in; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; text-align: justify"> <font style="font-size: 10pt">changes in market valuations of similar















    companies;</font> </td></tr>















</table>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <TD STYLE="width: 0.25in; text-align: justify"> &nbsp; </td>















    <TD STYLE="vertical-align: top; width: 0.25in; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; text-align: justify"> <font style="font-size: 10pt">market reaction to any additional equity,















    debt or other securities that we may issue in the future, and which may or may not dilute the holdings of our existing stockholders;</font> </td></tr>















</table>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <TD STYLE="width: 0.25in; text-align: justify"> &nbsp; </td>















    <TD STYLE="vertical-align: top; width: 0.25in; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; text-align: justify"> <font style="font-size: 10pt">additions or departures of key personnel;</font> </td></tr>















</table>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <TD STYLE="width: 0.25in; text-align: justify"> &nbsp; </td>















    <TD STYLE="vertical-align: top; width: 0.25in; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; text-align: justify"> <font style="font-size: 10pt">actions by institutional or significant















    stockholders;</font> </td></tr>















</table>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <TD STYLE="width: 0.25in; text-align: justify"> &nbsp; </td>















    <TD STYLE="vertical-align: top; width: 0.25in; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; text-align: justify"> <font style="font-size: 10pt">short interest in our Common Stock or















    our other securities and the market response to such short interest;</font> </td></tr>















</table>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <TD STYLE="width: 0.25in; text-align: justify"> &nbsp; </td>















    <TD STYLE="vertical-align: top; width: 0.25in; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; text-align: justify"> <font style="font-size: 10pt">the dramatic increase in the number















    of individual holders of our Common Stock and their participation in social media platforms targeted at speculative investing;</font> </td></tr>















</table>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <TD STYLE="width: 0.25in; text-align: justify"> &nbsp; </td>















    <TD STYLE="vertical-align: top; width: 0.25in; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; text-align: justify"> <font style="font-size: 10pt">speculation in the press or investment















    community about our company or industries in which we operate;</font> </td></tr>















</table>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <TD STYLE="width: 0.25in; text-align: justify"> &nbsp; </td>















    <TD STYLE="vertical-align: top; width: 0.25in; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; text-align: justify"> <font style="font-size: 10pt">strategic actions by us or our competitors,















    such as acquisitions or other investments;</font> </td></tr>















</table>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <TD STYLE="width: 0.25in; text-align: justify"> &nbsp; </td>















    <TD STYLE="vertical-align: top; width: 0.25in; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; text-align: justify"> <font style="font-size: 10pt">legislative, administrative, regulatory















    or other actions affecting our business, our industry, including positions taken by the FDA;</font> </td></tr>















</table>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <TD STYLE="width: 0.25in; text-align: justify"> &nbsp; </td>















    <TD STYLE="vertical-align: top; width: 0.25in; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; text-align: justify"> <font style="font-size: 10pt">investigations, proceedings, or litigation















    that involve or affect us;</font> </td></tr>















</table>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <TD STYLE="width: 0.25in; text-align: justify"> &nbsp; </td>















    <TD STYLE="vertical-align: top; width: 0.25in; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; text-align: justify"> <font style="font-size: 10pt">the occurrence of any of the other risk















    factors included in this registration statement of which this prospectus forms a part; and</font> </td></tr>















</table>































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































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr>















    <TD STYLE="width: 0.25in; text-align: justify"> &nbsp; </td>















    <TD STYLE="vertical-align: top; width: 0.25in; text-align: justify"> <font style="font-size: 10pt">&#9679;</font> </td>















    <TD STYLE="vertical-align: top; text-align: justify"> <font style="font-size: 10pt">general market and economic conditions.</font> </td></tr>















</table>















































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B><I>NYSE American may delist our
Common Stock from trading, which could limit investors&rsquo; ability to make transactions in our securities and
subject us to additional trading restrictions.</I></B> </P>































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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Should
we fail to satisfy the continued listing requirements for remaining listed on NYSE American, such as the corporate governance
requirements or the minimum closing bid price requirement, NYSE American may take steps to delist our Common Stock. Such a delisting
would likely have a negative effect on the price of our Common Stock and would impair your ability to sell or purchase our Common
Stock when you wish to do so. In the event of a delisting, we would take actions to restore our compliance with NYSE American&rsquo;s
listing requirements, but we can provide no assurance that any such action taken by us would allow our Common Stock to become
listed again, stabilize the market price or improve the liquidity of our Common Stock, prevent our Common Stock from dropping
below NYSE American&rsquo;s minimum bid price requirement or prevent future non-compliance with such listing requirements.</FONT> </P>

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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we cannot maintain the listing of















our Common Stock for trading on NYSE American, we could face significant material adverse consequences, including:</P>































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































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 24px">&nbsp;</TD>















    <TD STYLE="width: 24px; font-size: 10pt"> <FONT STYLE="font-size: 10pt">&#9679;</FONT> </TD>















    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">a limited availability of market quotations
    for our Common Stock;</FONT> </TD></TR>















</TABLE>















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































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 24px">&nbsp;</TD>















    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">&#9679;</FONT> </TD>















    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">reduced liquidity for our Common Stock;</FONT> </TD></TR>















</TABLE>















































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































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































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a















                                         determination that our Common Stock is a &ldquo;penny stock&rdquo; which will require















                                         brokers trading in our Common Stock to adhere to more stringent rules and possibly result















                                         in a reduced level of trading activity in the secondary trading market for our Common















                                         Stock;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a















                                         limited amount of news and analyst coverage; and</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a















                                         decreased ability to issue additional Common Stock or obtain additional financing in















                                         the future.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Provisions















in our corporate charter documents and under Delaware law could make an acquisition of us, which may be beneficial to our stockholders,















more difficult and may prevent attempts by our stockholders to replace or remove our current management.</i></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provisions















in our corporate charter and our bylaws may discourage, delay or prevent a merger, acquisition or other change in control of us















that stockholders may consider favorable, including transactions in which you might otherwise receive a premium for your shares.















These provisions also could limit the price that investors might be willing to pay in the future for shares of our common stock,















thereby depressing the market price of our common stock. In addition, because our board of directors is responsible for appointing















the members of our management team, these provisions may frustrate or prevent any attempts by our stockholders to replace or remove















our current management by making it more difficult for stockholders to replace members of our board of directors. Among other















things, these provisions:</font></p>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">allow















                                         the authorized number of our directors to be changed only by resolution of our board















                                         of directors;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">limit















                                         the manner in which stockholders can remove directors from the board;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">establish















                                         advance notice requirements for stockholder proposals that can be acted on at stockholder















                                         meetings and nominations to our board of directors;</font></td></tr></table>































<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-left: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">require















                                         that stockholder actions must be effected at a duly called stockholder meeting and prohibit















                                         actions by our stockholders by written consent;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">limit















                                         who may call stockholder meetings;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">authorize















                                         our board of directors to issue preferred stock without stockholder approval, which could















                                         be used to institute a stockholder rights plan, or so-called &ldquo;poison pill,&rdquo;















                                         that would work to dilute the stock ownership of a potential hostile acquirer, effectively















                                         preventing acquisitions that have not been approved by our board of directors; and</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </td><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">authorizing
                                         &ldquo;blank check&rdquo; preferred stock, which could be issued by our board of directors without stockholder approval and may contain voting, liquidation, dividend, and other
                                         rights superior to our common stock.</FONT> </td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Moreover,















because we are incorporated in Delaware, we are governed by the provisions of Section&nbsp;203 of the General Corporation Law















of the State of Delaware (the &ldquo;DGCL&rdquo;), which prohibits a person who owns in excess of 15% of our outstanding voting















stock from merging or combining with us for a period of three years after the date of the transaction in which the person acquired















in excess of 15% of our outstanding voting stock, unless the merger or combination is approved in a prescribed manner.</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our















certificate of incorporation and our bylaws provide that the Court of Chancery of the State of Delaware will be the exclusive















forum for substantially all disputes between us and our stockholders, which could limit our stockholders&rsquo; ability to obtain















a favorable judicial forum for disputes with us or our directors, officers or employees.</i></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify">Our certificate of incorporation and our bylaws

provide that the Court of Chancery of the State of Delaware is the exclusive forum for any derivative action or proceeding brought on

our behalf; any action asserting a breach of fiduciary duty; any action asserting a claim against us arising pursuant to the DGCL, our

certificate of incorporation or our bylaws; or any action asserting a claim against us that is governed by the internal affairs doctrine.

Notwithstanding the foregoing, the exclusive forum provision does not apply to suits brought to enforce any liability or duty created

by the Securities Act, the Exchange Act, or any other claim for which the federal courts have exclusive or concurrent jurisdiction.

Section 27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created

by the Exchange Act of the rules and regulations thereunder, and Section 22 of the Securities Act creates concurrent jurisdiction for

federal and state courts over all suits brought to enforce any duty or liability created by the Securities Act or the rules and regulations

thereunder, and notwithstanding the provisions of our Certificate of Incorporation and our Bylaws, compliance with the federal securities

laws and the rules and regulations thereunder may not be waived by our investors. The choice of forum provision may limit a stockholder&rsquo;s

ability to bring a claim in a judicial forum that it finds favorable for disputes with us or our directors, officers or other employees,

which may discourage such lawsuits against us and our directors, officers and other employees. Alternatively, if a court were to find

the choice of forum provision contained in our certificate of incorporation and our bylaws to be inapplicable or unenforceable in an

action, we may incur additional costs associated with resolving such action in other jurisdictions, which could materially and adversely

affect our business, financial condition, and results of operation.</P>



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































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































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>A significant portion of our total















outstanding shares are restricted from immediate resale but may be sold into the market in the near future, which could cause the















market price of our Common Stock to drop significantly, even if our business is performing well.</I></B></P>































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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales
of substantial amounts of our shares of Common Stock in the public market following the IPO, or the perception that
these sales could occur, could cause the market price of our securities to decline. These sales, or the possibility that these
sales may occur, also might make it more difficult for us to sell equity securities in the future at a time and at a price that
we deem appropriate.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> After
giving effect to the IPO Transactions, the issuance of the November Leak-Out Shares not yet issued as of the date of this
prospectus and sale of the IPO Shares pursuant to the IPO Prospectus, we will have 5,617,007 outstanding shares of Common
Stock. All of the IPO Shares sold pursuant to the IPO Prospectus will be immediately tradable without restriction under the
Securities Act of 1933, as amended, or the Securities Act, except for any securities held by &ldquo;affiliates,&rdquo; as
that term is defined in Rule 144 under the Securities Act, or Rule 144. </P>

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



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

<P STYLE="margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The remaining shares of
Common Stock, other than the Selling Stockholder Shares, will be restricted securities within the meaning of Rule 144 under the
Securities Act but will be eligible for resale subject to applicable volume, means of sale, holding period and other limitations
of Rule 144 under the Securities Act or pursuant to an exception from registration under Rule 701 under the Securities Act, subject
to the&nbsp;lock-up&nbsp;agreements executed in conjunction with the IPO. See &ldquo;Shares Eligible for Future Sale&rdquo; for
more information.</FONT> </P>

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

<P STYLE="margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition, we are registering
the Selling Stockholder Shares pursuant to the Resale Prospectus and, as a result, all of the Selling Stockholder Shares are freely
tradable under the Securities Act, subject to the terms of the lock up agreements.</FONT> </P>

<P STYLE="margin: 0pt 0"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
completion of the IPO, we intend to file one or more registration statements on Form&nbsp;S-8&nbsp;under the Securities Act to
register the shares of Common Stock to be issued under our equity compensation plans and, as a result, all shares of Common Stock
acquired under our plans will also be freely tradable under the Securities Act, subject to the terms of the&nbsp;lock-up&nbsp;agreements,
unless purchased by our affiliates. In addition, 444,444 shares of our Common Stock will be reserved for future issuances under
the equity incentive plan that we have adopted.</FONT> </P>







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







<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> In connection with the Bridge Financings,
we are required to file a registration statement within 180 calendar days after the consummation of the IPO, providing for the
resale of Common Stock, which includes 551 Bonus Shares, received by holders of the senior secured convertible notes upon conversion
of such notes. </P>



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> In connection with our proposed ELOC,
we intend to file a registration statement subsequent to the expiration of the lock-up agreement we enter into with the Representative
in connection with the IPO, providing for the resale of the shares of Common Stock issuable pursuant to the proposed, if issued. </P>



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

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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> In the future, we may issue additional
shares of Common Stock or other equity or debt securities convertible into Common Stock in connection with draw-downs under our
proposed ELOC, a financing, acquisition, litigation settlement or employee arrangement or otherwise. Any of these issuances could
result in substantial dilution to our existing stockholders and could cause the trading price of our securities to decline. </P>































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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>If
you purchase IPO Shares in the offering pursuant to the IPO Prospectus, you will suffer immediate dilution of your investment.</I></B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> The public offering price of the IPO
Shares will be substantially higher than the pro forma net tangible book value per share of our Common Stock. Therefore, if you
purchase IPO Shares pursuant to the IPO Prospectus, you will pay a price per IPO Share that substantially exceeds our pro forma
net tangible book value per share of Common Stock after the offering of IPO Shares. To the extent outstanding warrants, options
or other convertible securities may be exercised or converted, you will incur further dilution. Based on the assumed public offering
price of $6.00 per IPO Share, which is the midpoint of the price range set forth on the cover page of the IPO Prospectus, you
will experience immediate dilution of $5.59 per share, representing the difference between the assumed public offering price per
IPO Share and our pro forma as adjusted net tangible book value per share of $0.41. See &ldquo;Dilution.&rdquo; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>The
Series C Preferred Stock to be issued upon the close of the IPO, will have a liquidation preference over our Common Stock.</I></B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Series C Preferred Stock to be issued upon close of the IPO, will have a liquidation preference that gets paid prior to any payment
on our Common Stock. As a result, if we were to liquidate, dissolve or wind-up, each holder of our Series C Preferred Stock would
have the right to receive payment out of our assets available for distribution, before any amount is paid to the holders of our
Common Stock, in an amount in cash equal to the aggregate liquidation value of all of the shares of preferred stock held by such
holder. Holders of the Series C Preferred Stock will not be entitled to dividends. The payment of the liquidation preferences
on the Series C Preferred Stock could result in holders of our Common Stock not receiving any proceeds if we were to liquidate,
dissolve or wind up, either voluntarily or involuntarily.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify">The existence of the liquidation preferences
may reduce the value of our Common Stock, make it harder for us to sell shares of Common Stock in offerings in the future, or
prevent or delay a change of control.</P>



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



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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If securities analysts do not publish















research or reports about our business or if they publish negative evaluations of our stock, the price of our stock could decline.</I></B></P>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The trading market for our Common
Stock will rely, in part, on the research and reports that industry or financial analysts publish about us or our
business. If securities analysts do not commence coverage of us, the trading price of our stock could decrease. Additionally,
if one or more of the analysts covering our business downgrade their evaluations of our stock, the price of our stock could
decline. If one or more of these analysts cease to cover our stock, we could lose visibility in the market for our stock,
which in turn could cause our stock price to decline. </P>































































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































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































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































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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















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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>The price of our securities may















be volatile and fluctuate substantially, which could result in substantial losses for purchasers of our securities in this offering.</i></b></p>































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































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The offering price for our securities















may not reflect the market price of our securities following this offering. In addition, the market price of our securities is















likely to be highly volatile due to many factors, including:</P>































































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































































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































































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































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         ability to successfully proceed to and conduct clinical trials;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">results of clinical trials of our lead compound or those of our competitors;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         success of competitive products or technologies;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">commencement















                                         or termination of collaborations;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">regulatory















                                         or legal developments in the United States and other countries;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">developments















                                         or disputes concerning patent applications, issued patents or other proprietary rights;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         recruitment or departure of key personnel;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><font style="font-size: 10pt">&#9679;</font></font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><font style="font-size: 10pt">the















                                         level of expenses related to any of our current or future lead compounds or clinical















                                         development programs;</font></font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         results of our efforts to discover, develop, acquire or in-license additional lead compounds;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">actual















                                         or anticipated changes in estimates as to financial results, development timelines or















                                         recommendations by securities analysts;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         inability to obtain or delays in obtaining adequate product supply for any approved product















                                         or inability to do so at acceptable prices;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">disputes















                                         or other developments relating to proprietary rights, including patents, litigation matters















                                         and our ability to obtain patent protection for our technologies;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">significant















                                         lawsuits, including patent or stockholder litigation;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">variations















                                         in our financial results or those of companies that are perceived to be similar to us;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">changes















                                         in the structure of healthcare payment systems;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">market















                                         conditions in the pharmaceutical and biotechnology sectors;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">general















                                         economic, industry and market conditions; and</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         other factors described in this &ldquo;Risk Factors&rdquo; section.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><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: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In particular, we cannot assure you















that you will be able to resell your securities at or above your purchase price. The stock markets have experienced extreme volatility















in recent years that has been unrelated to operating performance. These broad market fluctuations may adversely affect the trading















price of our securities. In the past, following periods of volatility in the market price of a company&rsquo;s securities, class















action litigation has often been instituted against the affected company. Any litigation of this type brought against us could















result in substantial costs and a diversion of our management&rsquo;s attention and resources, which would harm our business,















results of operations, financial condition and cash flows.</p>































































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































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































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































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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;<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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>No
public market for our Common Stock  currently exists, and an active trading market may not develop or be sustained.
</I></B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior to the IPO, there has been no public market for our Common Stock. Although we have applied to have
our Common Stock listed on NYSE American, an active trading market may not develop following the closing of the offering of IPO
Shares pursuant to the IPO Prospectus or, if developed, may not be sustained. The lack of an active market may impair your ability
to sell your shares of Common Stock at the time you wish to sell them or at a price that you consider reasonable. The lack of an
active market may also reduce the fair market value of your shares of Common Stock. An inactive market may also impair our ability
to raise capital to continue to fund operations by selling shares and may impair our ability to acquire other companies or technologies
by using our shares as consideration. The initial public offering price for IPO Shares was determined by negotiations between us
and the underwriters and may not be indicative of the future prices of our Common Stock.&nbsp;</FONT> </P>

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































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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>We
have broad discretion in the use of our cash, including the net proceeds from the offering of IPO Shares, and may not use them effectively.</I></B></FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
management will have broad discretion in the application of our cash, including the net proceeds from the offering of IPO Shares, and
could spend the proceeds in ways that do not improve our results of operations or enhance the value of our Common Stock. The failure
by our management to apply these funds effectively could result in financial losses that could have a material adverse effect
on our business, cause the price of our Common Stock to decline and delay the development of CC8464 and any other lead compounds
that we may develop. Pending their use, we may invest our cash, including the net proceeds from the IPO, in a manner that does
not produce income or that loses value. See &ldquo;Use of Proceeds.&rdquo;</FONT> </P>

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















additional capital may cause dilution to our existing stockholders, restrict our operations or require us to relinquish rights to our















technologies or CC8464.</i></b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may seek additional capital through a combination of draw-downs under our proposed ELOC, public and private equity offerings,
debt financings, collaborations and licensing arrangements. To the extent that we raise additional capital through the sale of
equity or debt securities, your ownership interest will be diluted, and the terms may include liquidation or other preferences
that adversely affect your rights as a stockholder. The incurrence of indebtedness would result in increased fixed payment obligations
and could involve restrictive covenants, such as limitations on our ability to incur additional debt, limitations on our ability
to acquire or license intellectual property rights and other operating restrictions that could adversely impact our ability to
conduct our business. If we raise additional funds through strategic partnerships and alliances and licensing arrangements with
third parties, we may have to relinquish valuable rights to our technologies or CC8464 or grant licenses on terms unfavorable
to us.</FONT> </p>































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















are an &ldquo;emerging growth company&rdquo; and the reduced disclosure requirements applicable to emerging growth companies may















make our common stock less attractive to investors.</i></b></font></p>































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















are an &ldquo;emerging growth company,&rdquo; as defined in the Jumpstart Our Business Startups Act of 2012 (the &ldquo;JOBS Act&rdquo;),















and we may take advantage of certain exemptions and relief from various reporting requirements that are applicable to other public















companies that are not &ldquo;emerging growth companies.&rdquo; In particular, while we are an &ldquo;emerging growth company:















(i)&nbsp;we will not be required to comply with the auditor attestation requirements of Section&nbsp;404(b) of the Sarbanes-Oxley















Act; (ii)&nbsp;we will be exempt from any rules that may be adopted by the Public Company Accounting Oversight Board requiring















mandatory audit firm rotations or a supplement to the auditor&rsquo;s report on financial statements; (iii)&nbsp;we will be subject















to reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements; and (iv)&nbsp;we















will not be required to hold nonbinding advisory votes on executive compensation or stockholder approval of any golden parachute















payments not previously approved. Investors may find our common stock less attractive if we rely on the exemptions and relief















granted by the JOBS Act. If some investors find our common stock less attractive as a result, there may be a less active trading















market for our common stock and our stock price may decline or become more volatile.</font></p>































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















have taken advantage of reduced reporting burdens in this prospectus. In particular, we have not included all of the executive















compensation information that would be required if we were not an emerging growth company. We cannot predict whether investors















will find our common stock less attractive if we rely on certain or all of these exemptions. If some investors find our common















stock less attractive as a result, there may be a less active trading market for our common stock and our stock price may be more















volatile.</font></p>































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















addition, the JOBS Act provides that an emerging growth company may take advantage of an extended transition period for complying















with new or revised accounting standards. This allows an emerging growth company to delay the adoption of certain accounting standards















until those standards would otherwise apply to private companies. We have irrevocably elected not to avail ourselves of this exemption















from new or revised accounting standards and, therefore, we will be subject to the same new or revised accounting standards as















other public companies that are not emerging growth companies.</font></p>































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































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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































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















will incur increased costs as a result of operating as a smaller reporting public company, and our management will be required















to devote substantial time to new compliance initiatives.</i></b></font></p>































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































































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a smaller reporting public company,















and particularly after we are no longer an emerging growth company, we will incur significant legal, accounting and other expenses















that we did not incur as a private company. In addition, the Sarbanes-Oxley Act and rules subsequently implemented by the SEC















and NYSE American have imposed various requirements on public companies, including establishment and maintenance of effective















disclosure and financial controls and corporate governance practices. Our management and other personnel will need to devote a















substantial amount of time to these compliance initiatives. Moreover, these rules and regulations will increase our legal and















financial compliance costs and will make some activities more time consuming and costly. For example, we expect that these rules















and regulations may make it more difficult and more expensive for us to obtain director and officer liability insurance.</P>































































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































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















to Section&nbsp;404, we will be required to furnish a report by our management on our internal control over financial reporting,















including an attestation report on internal control over financial reporting issued by our independent registered public accounting















firm. However, while we remain an emerging growth company, we will not be required to include an attestation report on internal















control over financial reporting issued by our independent registered public accounting firm. To achieve compliance with Section&nbsp;404















within the prescribed period, we will be engaged in a process to document and evaluate our internal control over financial reporting,















which is both costly and challenging. In this regard, we will need to continue to dedicate internal resources, potentially engage















outside consultants and adopt a detailed work plan to assess and document the adequacy of internal control over financial reporting,















continue steps to improve control processes as appropriate, validate through testing that controls are functioning as documented















and implement a continuous reporting and improvement process for internal control over financial reporting. Despite our efforts,















there is a risk that neither we nor our independent registered public accounting firm will be able to conclude within the prescribed















timeframe that our internal control over financial reporting is effective as required by Section&nbsp;404. This could result in















an adverse reaction in the financial markets due to a loss of confidence in the reliability of our financial statements.</font></p>































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















we do not anticipate paying any cash dividends on our capital stock in the foreseeable future, capital appreciation, if any, will















be your sole source of gain.</i></b></font></p>































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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have never declared or paid cash dividends on our capital stock. We currently intend to retain all of our future earnings, if
any, to finance the growth and development of our business. In addition, the terms of any future debt agreements may preclude
us from paying dividends. As a result, capital appreciation, if any, of our Common Stock will be your sole source of gain for
the foreseeable future.</FONT> </p>































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















































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="a003_v1"></a>SPECIAL















NOTE REGARDING FORWARD-LOOKING STATEMENTS</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This















prospectus contains forward-looking statements that involve substantial risks and uncertainties. The forward-looking statements















are contained principally in the sections entitled &ldquo;Prospectus Summary,&rdquo; &ldquo;Risk Factors,&rdquo; &ldquo;Management&rsquo;s















Discussion and Analysis of Financial Condition and Results of Operations&rdquo; and &ldquo;Business.&rdquo; Forward-looking statements















include information concerning our strategy, future operations, future financial position, future revenue, projected expenses,















prospects and plans and objectives of management. Forward-looking statements include all statements that are not historical facts















and can be identified by terms such as &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;continue,&rdquo; &ldquo;could,&rdquo;















&ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;intend,&rdquo; &ldquo;may,&rdquo; &ldquo;plan,&rdquo; &ldquo;potential,&rdquo;















&ldquo;predict, &ldquo;project,&rdquo; &ldquo;seek,&rdquo; &ldquo;should,&rdquo; &ldquo;target,&rdquo; &ldquo;will,&rdquo; &ldquo;would&rdquo;















or similar expressions and the negatives of those terms.</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forward-looking















statements contained in this prospectus include, but are not limited to, statements about the following:</font></p>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         initiation, timing, progress and results of preclinical and clinical trials for CC8464















                                         and any other lead compounds, including statements regarding the timing of initiation















                                         and completion of studies or trials and related preparatory work, the period during which















                                         the results of the trials will become available and our research and development programs;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         timing, scope or results of regulatory filings and approvals, including timing of final















                                         FDA marketing and other regulatory approval of CC8464;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         ability to achieve certain accelerated or orphan drug designations from the FDA;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         estimates regarding the potential market opportunity for CC8464;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0; text-align: justify">our















                                         research and development programs for our lead compound;</p>















































</td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0; text-align: justify">our















                                         plans and ability to successfully develop and commercialize future lead compounds, including















                                         CC8464;</p>















































</td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         ability to identify and develop new lead compounds;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         ability to identify, recruit and retain key personnel;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         commercialization, marketing and manufacturing capabilities and strategy;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         implementation of our business model, strategic plans for our business, lead compounds















                                         and technology;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         scalability and commercial viability of our proprietary manufacturing methods and processes;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         rate and degree of market acceptance and clinical utility of lead compounds;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         competitive position;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         intellectual property position and our ability to protect our intellectual property and















                                         enforce our intellectual property rights;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         financial performance;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">developments















                                         and projections relating to our competitors and our industry;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         ability to establish and maintain collaborations or obtain additional funding;</font></td></tr></table>































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































































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></FONT> </TD>















    <TD STYLE="font-size: 10pt; text-align: justify"><P STYLE="margin: 0pt 0"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our expectations related to the use of proceeds from the offering of the IPO Shares;</FONT></FONT> </P>


</TD></TR>















</TABLE>































































































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         estimates regarding expenses, future revenue, capital requirements and needs for or ability















                                         to obtain additional financing;</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         impact of laws and regulations; and</font></td></tr></table>































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































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         expectations regarding the time during which we will be an emerging growth company under















                                         the JOBS Act.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forward-looking















statements are subject to a number of risks, uncertainties and assumptions, including those described in &ldquo;Risk Factors&rdquo; and elsewhere in this prospectus. Moreover, we operate in a very competitive and rapidly changing environment, and new risks emerge















from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on















our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from















those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking















events and circumstances discussed in this prospectus may not occur and actual results could differ materially and adversely from















those anticipated or implied in the forward-looking statements. Given these uncertainties, you should not place undue reliance















on these forward-looking statements. Also, forward-looking statements represent our management&rsquo;s beliefs and assumptions















only as of the date of this prospectus. You should read this prospectus and the documents that we have filed as exhibits to the















registration statement, of which this prospectus is a part, completely and with the understanding that our actual future results















may be materially different from what we expect.</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except















as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual















results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available















in the future.</font></p>































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















































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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</p>































































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><a name="a005_v1"></a><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">USE
OF PROCEEDS</FONT></P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We estimate that the net proceeds from our issuance and sale of the IPO Shares pursuant to the IPO Prospectus
will be approximately $4.6 million (or $5.5 million if the underwriters exercise in full their option to purchase additional IPO
Shares), assuming an initial public offering price of $6.00 per IPO Share, the midpoint of the price range set forth on the cover
page of the IPO Prospectus, after deducting estimated underwriting discounts and commissions and estimated offering expenses payable
by us. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Each $0.50 increase (decrease) in the assumed initial public offering price of $6.00 per IPO Share, the
midpoint of the price range set forth on the cover page of the IPO Prospectus, would increase (decrease) the net proceeds to us
from the offering of IPO Shares by approximately $0.4 million, assuming that the number of IPO Shares offered by us, as set forth
on the cover page of the IPO Prospectus, remains the same.&nbsp;Similarly, each 100,000 increase (decrease) in the number of IPO
Shares offered by us, as set forth on the cover page of the IPO Prospectus, would increase (decrease) the net proceeds to us from
the offering of IPO Shares by approximately $0.6&nbsp;million, assuming the assumed initial public offering price per IPO Share
remains the same.&nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
intend to use the net proceeds from the offering of IPO Shares as follows:</FONT> </P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 30px; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30px; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">approximately $2.0
    million to prepare and conduct a dose escalation study for CC8464 in an effort to establish a safe dose escalation regime
    which will be designed to avoid a high incidence rate of rashes;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 30px; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 30px; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">approximately
    $0.4 million for in vivo and toxicology studies of CC8464 for the treatment of eye pain;</FONT> </TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 30px; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30px; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">approximately $0.25
    million for neuropathic studies of CC8464 for the treatment of neuropathic pain; </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 30px; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">approximately
    $0.25 million to prepare and begin conducting a Phase 2a proof-of-concept study of CC8464 for EM; and</FONT> </TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 30px; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30px; text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">approximately $0.2
    million to repay amounts outstanding under the October Promissory Notes.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
intend to use the remaining net proceeds from the IPO, if any, for general corporate purposes.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
expected net proceeds of the offering of IPO Shares will not be sufficient for us to fund any of our future lead compounds, including
CC8464, through regulatory approval, and we will need to raise substantial additional capital to complete the development and
potential commercialization of our current and any future lead compounds, as well as to establish commercial supply and a sales
organization.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The















amounts and timing of our actual expenditures will depend on numerous factors, including the progress of our preclinical and clinical















trials and other development and potential commercialization efforts for CC8464 and any future lead compounds, as well as the















amount of cash used in our operations. Although we have no present intention or commitment to do so, we may use a portion of the















net proceeds for the acquisition of, or investment in, technologies, intellectual property or businesses that complement our business.</font></p>































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































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































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our expected use of net proceeds from















the IPO represents our current intentions based upon our present plans and business condition. As of the date of the IPO Prospectus,















we cannot predict with complete certainty all of the particular uses for the net proceeds to be received upon the completion of















the IPO or the actual amounts that we will spend on the uses set forth above. We may find it necessary or advisable to use the















net proceeds for other purposes, and our management will retain broad discretion over the allocation of the net proceeds from















the IPO. Pending the uses described above, we plan to invest the net proceeds from the IPO in short- and intermediate-term, interest-bearing















obligations, investment-grade instruments, certificates of deposit or direct or guaranteed obligations of the U.S. government.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The amount of net proceeds set forth
above assumes the issuance of (i) $557,036 in IPO Shares at the public offering price per IPO Share directly to the lender holding
the Investor Note (92,840&nbsp;IPO Shares, assuming an initial public offering price of $6.00 per IPO Share, the midpoint of the
price range set forth on the cover page of the IPO Prospectus, and including interests calculated to and through January 31, 2024)
and (ii) $175,000 in IPO Shares at the public offering price per IPO Share directly to one of our directors holding the Director
Note (29,167 IPO Shares, assuming an initial public offering price of $6.00&nbsp;per IPO Share, the midpoint of the price range
set forth on the cover page of the IPO Prospectus) in each case, as repayment of such Investor Note and Director Note in full
satisfaction of our obligations thereunder and, accordingly, the amount of net proceeds we receive in the IPO will not increase
as a result. However, because the director is not obligated to accept IPO Shares in the IPO in full (or partial) satisfaction
of our obligations under the Director Note, we may be required to use a portion of the net proceeds from the IPO to repay the
amounts outstanding under the Director Note. In that instance, the net proceeds available to prepare and conduct studies for CC8464
would be reduced by up to $175,000, and the number of IPO Shares issued in the IPO would decrease accordingly. </P>

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


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The Investor Note, as amended, has
a maturity date of January 31, 2024, and accrued interest equal to 2% of the face amount of $450,000 per month ($9,000 per month).
The proceeds received from the Investor Note were used for working capital purposes. </P>



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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The Director Note has a maturity date
of February 29, 2024 and accrues no interest beyond the original issue discount of $75,000 (except in the case of certain events
of default). The proceeds received from the Director Note were used for working capital purposes. </P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Each
of the October Promissory Notes has a maturity date of February 29, 2024 and accrues no interest (except in the case of certain
events of default). The proceeds received from the October Promissory Notes were used for working capital purposes.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
 will not
receive any proceeds from the sale of the Stockholder Shares by the Selling Stockholders pursuant to the Resale Prospectus.</FONT> </P>































































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































































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































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































































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="a006_v1"></a>DIVIDEND















POLICY</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We have never declared or paid cash
dividends on our capital stock. We currently intend to retain all available funds and any future earnings for use in the operation
of our business and do not anticipate paying any dividends on our Common Stock in the foreseeable future. Any future determination
to declare dividends will be made at the discretion of our board of directors and will depend on our financial condition, operating
results, capital requirements, general business conditions and other factors that our board of directors may deem relevant. </P>

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



<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"></p>















































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="a007_v1"></a>CAPITALIZATION</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth our cash and our capitalization as of September 30, 2023:</FONT> </p>































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































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="vertical-align: top">















<TD STYLE="width: 24px"></td><TD STYLE="width: 24px"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">on















                                         an actual basis;</font></td></tr></table>































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

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">on an as adjusted basis, after giving effect
    to: (A) the Rights Offering; (B) the issuance of 30,000 shares of Common Stock (prior to giving effect to the Reverse Stock
    Split) to the Holder of the Investor Note pursuant to the October Investor Note Side Letter; (C) the issuance of 90,000 shares
    of Common Stock (prior to giving effect to the Reverse Stock Split) to the Holder of the Investor Note pursuant to the November
    Investor Note Side Letter; (D) the issuance of 3,458,033 shares of Common Stock (prior to giving effect to the Reverse Stock
    Split) to Benuvia in connection with the Benuvia Stock Issuance Agreement; (E) the issuance of the October Promissory Notes;
    and (F) the IPO Transactions, which include: (i) the 1-for-9 Reverse Stock Split; (ii) the issuance of 499,429 IPO Shares
    upon conversion of all issued and outstanding shares of Series A Preferred Stock (after giving effect to the Reverse Stock
    Split); (iii) the issuance of 130,993 shares of Common Stock upon the conversion of the senior convertible notes issued in
    the Bridge Financings, which includes an additional 551 Bonus Shares and includes interests calculated to and through January
    31, 2024 (after giving effect to the Reverse Stock Split); (iv) the issuance of an aggregate of
    37,500 Standby Shares to the Standby Investor upon close of the IPO (after giving effect to the Reverse Stock Split); and
    (v) the close of the transactions contemplated by the Holdings Side Letter, including the re-assumption of liabilities by
    Chromocell Holdings previously assumed by the Company, the waiver by Chromocell Holdings of the Company&rsquo;s obligation
    to make a cash payment in respect of certain expenses upon close of the IPO, and the issuance of an aggregate of 2,600 shares
    of Series C Preferred Stock upon close of the IPO, assuming, in the case of each IPO Transaction referred to in (F)(i)-(iii)
    above, an initial public offering price of $6.00 per IPO Share, the midpoint of the price range set forth on the cover page
    of the IPO Prospectus; and</FONT> </TD></TR>
</TABLE>


<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"> &nbsp; </TD>
    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">on a further as adjusted basis, after giving
    effect to the transactions described above, the sale of 1,038,674 IPO Shares in the IPO at an assumed public offering price
    of $6.00 per IPO Share, the midpoint of the price range set forth on the cover page of the IPO Prospectus (which amount includes
    IPO Shares sold in full satisfaction of the Investor Note and Director Note), after deducting the estimated underwriting discounts
    and commissions and estimated offering expenses payable by us (a portion of which were paid prior to September 30, 2023).
    </FONT> </TD></TR>
</TABLE>


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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif; background-color: white">You
should read this table together with the sections of this prospectus captioned &ldquo;Use of Proceeds,&rdquo; &ldquo;Summary Historical
Financial Data,&rdquo; &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo;
and &ldquo;Description of Capital Stock&rdquo; and our consolidated financial statements and related notes included elsewhere
in this prospectus.</FONT> </P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD COLSPAN="10" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>As of September
    30, 2023<SUP>(1)</SUP></B></FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Actual</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>(Unaudited)</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>As&nbsp;Adjusted</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>As </B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Further </B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Adjusted</B></FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 55%; text-align: justify"> <FONT STYLE="font-size: 10pt"><B>Cash</B></FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: black 2.25pt double"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 12%; border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-size: 10pt">22,786</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: black 2.25pt double"> <FONT STYLE="font-size: 10pt">$&nbsp;</FONT> </TD>
    <TD STYLE="width: 12%; border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-size: 10pt">452,388</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: black 2.25pt double"> <FONT STYLE="font-size: 10pt">$&nbsp;</FONT> </TD>
    <TD STYLE="width: 12%; border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-size: 10pt">5,082,956</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"> <FONT STYLE="font-size: 10pt"><B>Debt</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Investor Note, net of debt discount<B><SUP>(2)</SUP></B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">450,000</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">450,000</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Director Note, net of debt discount<B><SUP>(3)</SUP></B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">157,216</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">157,216</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Loan Payable &ndash; Related Party<B><SUP>(4)</SUP></B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">591,936</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">766,936</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"> <FONT STYLE="font-size: 10pt"><B>Stockholders&rsquo; equity:</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Series A Preferred Stock; $0.0001 par
    value per share; 700,000 shares authorized, 600,000 shares issued and outstanding, actual; 700,000 shares authorized and zero
    shares issued and outstanding, as adjusted; and 700,000 shares authorized and zero shares issued and outstanding, as further
    adjusted</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">60</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Series&nbsp;C Preferred Stock; $0.0001
    par value per share; zero shares authorized, zero shares issued and outstanding, actual; 5,000 shares authorized and 2,600
    shares issued and outstanding, as adjusted; and 5,000 shares authorized and 2,600 shares issued and outstanding, as further
    adjusted</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Common Stock; $0.0001 par value per share;
    100,000,000 shares authorized, 8,876,296 shares issued and outstanding, actual; 200,000,000 shares authorized and 4,578,333&nbsp;shares
    issued and outstanding, as adjusted; and 200,000,000 shares authorized and 5,617,007 shares issued and outstanding, as further
    adjusted</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">888</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">458</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">562</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"> <FONT STYLE="font-size: 10pt">Additional paid-in capital</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">3,574,960</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">9,354,381</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">14,716,984</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"> <FONT STYLE="font-size: 10pt">Accumulated deficit</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">(9,480,496</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">(9,480,496</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">(9,480,496</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"> <FONT STYLE="font-size: 10pt">Total stockholders&rsquo; (deficit) equity</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">(5,904,588</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">(125,657</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">5,237,050</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"> <FONT STYLE="font-size: 10pt"><B>Total capitalization</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">(4,705,436</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt">$&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">1,248,495</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt">$&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">5,237,050&nbsp;</FONT> </TD>
    <TD> &nbsp; </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1)</FONT> </TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">On
    an actual, as adjusted basis and as further adjusted basis, reflects approximately $869,433 in offering expenses paid on or
    prior to September 30, 2023.</FONT> </TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Represents
    the aggregate principal amount of $450,000 of the Investor Note.</FONT> </TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">(3)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-size: 10pt">Represents the aggregate principal amount and interest of the Director Note.</FONT> </TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">(4)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-size: 10pt">Represents (i)
    the aggregate principal amount and interest of the notes outstanding issued in connection with the Bridge Financings held
    by related parties and (ii) the aggregate principal amount of $210,000 of the October Promissory Notes.</FONT> </TD></TR>
</TABLE>


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<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><a name="a008_v1"></a><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DILUTION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
you invest in our securities, your ownership interest will be immediately diluted to the extent of the difference between the
initial public offering price per IPO Share and the as further adjusted net tangible book value per share of our Common Stock immediately
after the IPO.&nbsp;</FONT> </P>

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

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


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Pro forma net tangible book value per share represents the amount of our total tangible assets as adjusted
to take into account: (A) the Rights Offering; (B) the issuance of 30,000 shares of Common Stock (prior to giving effect to the
Reverse Stock Split) to the Holder of the Investor Note pursuant to the October Investor Note Side Letter; (C) the issuance of
the 90,000 shares of Common Stock (prior to giving effect to the Reverse Stock Split) to the Holder of the Investor Note pursuant
to the November Investor Note Side Letter; (D) the issuance of 3,458,033 shares of Common Stock (prior to giving effect to the
Reverse Stock Split) to Benuvia in connection with the Benuvia Stock Issuance Agreement; (E) the issuance of the October Promissory
Notes; and (F) the IPO Transactions, which include: (i) the 1-for-9 Reverse Stock Split; (ii) the issuance of 499,429 IPO Shares
upon conversion of all issued and outstanding shares of Series A Preferred Stock (after giving effect to the Reverse Stock Split);
(iii) the issuance of 130,993 shares of Common Stock upon the conversion of the senior convertible notes issued in the Bridge Financings,
which includes an additional 551 Bonus Shares and includes interests calculated to and through January 31, 2024 (after giving effect
to the Reverse Stock Split); (iv) the issuance of an aggregate of 37,500 Standby Shares to the Standby
Investor upon close of the IPO (after giving effect to the Reverse Stock Split); and (v) the close of the transactions contemplated
by the Holdings Side Letter, including the re-assumption of liabilities by Chromocell Holdings previously assumed by the Company,
the waiver by Chromocell Holdings of the Company&rsquo;s obligation to make a cash payment in respect of certain expenses upon
close of the IPO, and the issuance of an aggregate of 2,600 shares of Series C Preferred Stock&nbsp;upon close of the IPO, assuming,
in the case of each IPO Transaction referred to in (F)(i)-(iii) above, an initial public offering price of $6.00 per IPO Share,
the midpoint of the price range set forth on the cover page of the IPO Prospectus. After giving effect to such transactions, our
pro forma net tangible book value per share as of September 30, 2023 would have been approximately $(0.51) per share.&nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> After giving effect to the transactions referred to above and the sale of 1,038,674 IPO Shares in the
IPO at an assumed public offering price of $6.00 per IPO Share, the midpoint of the price range on the cover of the IPO Prospectus
(which number of IPO Shares includes the issuance of IPO Shares in full satisfaction of our obligations under the Investor Note
and the Director Note), after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable
by us, our pro forma as adjusted net tangible book value as of September 30, 2023 would have been $2,298,098, or $0.41 per share.
This represents an immediate increase in as adjusted net tangible book value of $0.92 per share to our existing stockholders and
an immediate dilution of $5.59 per share to new investors participating in the IPO.&nbsp; </P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 70%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Assumed
    public offering price per share</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 12%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT> </TD>
    <TD STYLE="width: 12%; text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.00</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pro
    forma net tangible book value per share as of September 30, 2023</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;(0.51</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Increase
    in pro forma net tangible book value per share attributed to the investors in the offering of IPO Shares</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.05</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pro
    forma as adjusted net tangible book value per share after giving effect to the offering of IPO Shares</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">0.41</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Dilution
    to net tangible book value per share to new investors purchasing shares of Common Stock in the offering of IPO Shares</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT> </TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.59</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30px; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="width: 30px; font-size: 10pt"> <FONT STYLE="font-size: 10pt">(1)</FONT> </TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Each $0.50 increase in the
        assumed initial public offering price of $6.00 per IPO Share, the midpoint of the price range set forth on the cover page
        of the IPO Prospectus, would increase our pro forma as adjusted net tangible book value per share after the IPO by $0.08
        per share and decrease the dilution per share to new investors participating in the IPO by $(0.08) per share, assuming
        that the number of IPO Shares offered by us, as set forth on the cover page of the IPO Prospectus, remains the same, and
        after deducting underwriting discounts and estimated offering expenses payable by us. Each $0.50 decrease in the assumed
        initial public offering price of $6.00 per IPO Share, the midpoint of the price range set forth on the cover page of the
        IPO Prospectus, would decrease our pro forma as adjusted net tangible book value per share after the IPO by $(0.08) per
        share and increase the dilution per share to new investors participating in the IPO by $0.08 per share, assuming that
        the number of IPO Shares offered by us, as set forth on the cover page of the IPO Prospectus, remains the same, and after
        deducting underwriting discounts and estimated offering expenses payable by us. </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Similarly, each 100,000 increase
        in the number of IPO Shares offered by us would increase the pro forma as adjusted net tangible book value per share after
        the IPO by $0.09 per share and decrease the dilution per share to new investors participating in the IPO by $0.09&nbsp;
        per share, assuming that the assumed initial public offering price remains the same, after deducting underwriting discounts
        and estimated offering expenses payable by us. Similarly, each 100,000 decrease in the number of IPO Shares offered by
        us would increase the pro forma as adjusted net tangible book value per share after the IPO by $0.01 per share and decrease
        the dilution per share to new investors participating in the IPO by $0.01 per share, assuming that the assumed initial
        public offering price remains the same, after deducting underwriting discounts and estimated offering expenses payable
        by us. </P></TD></TR>
</TABLE>


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


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> If the underwriters exercise in full
their option to purchase up to 155,801 IPO Shares to cover over-allotments, if any, the pro forma as adjusted net tangible
book value per share after giving effect to the IPO would be $0.55 per share, representing an immediate increase (decrease) to
existing stockholders of $1.06 per share and immediate dilution to new investors participating in the IPO of $5.45 per share,
assuming that the assumed initial public offering price remains the same, after deducting underwriting discounts and estimated
offering expenses payable by us. </P>




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




























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

<P STYLE="margin-top: 0; font: 10pt Times New Roman, Times, Serif; margin-bottom: 0; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">The following table summarizes, on a pro forma as adjusted basis as of September 30, 2023, the differences
between the number of IPO Shares purchased from us, the total cash consideration and the average price per share paid to us by
existing stockholders and by new investors purchasing IPO Shares in the IPO at an assumed public offering price of $6.00 per IPO
Share, the midpoint of the price range set forth on the cover page of the IPO Prospectus, before deducting estimated underwriting
discounts and estimated offering expenses payable by us:&nbsp;</FONT> </P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Shares Purchased </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Total&nbsp;Consideration </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Average&nbsp;Price<BR> Per&nbsp;Share </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Number </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Percent </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Amount </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Percent </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: justify"> Existing stockholders </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right"> 4,700,340 </TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right"> 83.7 </TD><TD STYLE="width: 1%; text-align: left"> % </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 10%; text-align: right"> 8,299,900 </TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right"> 60.1 </TD><TD STYLE="width: 1%; text-align: left"> % </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 10%; text-align: right"> 1.77 </TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"> New public investors </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"> 916,667 </TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"> 16.3 </TD><TD STYLE="text-align: left"> % </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 5,500,000 </TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"> 39.9 </TD><TD STYLE="text-align: left"> % </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 6.00 </TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"> Total </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"> 5,617,007 </TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"> 100 </TD><TD STYLE="text-align: left"> % </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 13,799,900 </TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"> 100 </TD><TD STYLE="text-align: left"> % </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 2.46 </TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
the underwriters exercise their option to purchase additional IPO Shares in full, the number
of shares of Common Stock held by existing stockholders will be reduced to 81.4% of the total number of shares of Common
Stock to be outstanding after the IPO, and the number of shares of Common Stock held by investors participating in the IPO
will be further increased to&nbsp;18.6% of the total number of shares of Common Stock to be outstanding after the IPO, based
on all of the assumptions described above in this section.</FONT> </P>

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

















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















the extent any outstanding securities are exercised or converted or to the extent that we issue new securities which result in















the issuance of additional shares of Common Stock, new investors would experience further dilution.</FONT></P>































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















































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<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><a name="a009_v1"></a><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">MANAGEMENT&rsquo;S















DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION</font><br>















<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">AND&nbsp;RESULTS&nbsp;OF&nbsp;OPERATIONS</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><a name="a009a_v1"></a>You should















read the following discussion and analysis of our financial condition and results of operations together with the section entitled















&ldquo;Summary Historical Financial Data&rdquo; and our financial statements and related notes appearing in this prospectus. Some















of the information contained in this discussion and analysis or set forth elsewhere in this prospectus, including information















with respect to our plans and strategy for our business and related financing, includes forward-looking statements that involve















risks and uncertainties. As a result of many factors, including those factors set forth in the &ldquo;Risk Factors&rdquo; section















of this prospectus, our actual results could differ materially from the results described in or implied by the forward-looking















statements contained in the following discussion and analysis. </i></p>































































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Overview</b></font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.25pt 0pt 0; text-align: justify; text-indent: -0.05pt"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: -0.05pt"> </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.05pt">We are a clinical-stage

biotech company focused on developing and commercializing new therapeutics to alleviate pain. Our clinical focus is to selectively

target the sodium ion-channel known as &ldquo;NaV1.7&rdquo;, as well as other receptors in the NaV family. NaV1.7 has been genetically

validated as a pain receptor in human physiology. Our goal is to develop a novel and proprietary class of NaV blockers that target

the body&rsquo;s peripheral nervous system and have demonstrated safety in a Phase 1 study with more than 100 subjects.</P>



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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.05pt"> We observed certain
incidents of rashes during the trial for which we developed a mitigation strategy that involves slower dose escalation, hospitalization
and frequent physical examinations. We have developed a dose escalation study design and expect to launch patient procurement
in early 2024 with expected first patient dosing in the second quarter of 2024. The dose escalation trial will enroll approximately
32 healthy volunteers who will receive CC8464 over a period of several weeks, with the dose escalation study expected to take
approximately nine months. We anticipate that the slower dose escalation will decrease the likelihood of drug-related skin reactions.
The primary endpoint of the dose escalation trail will be safety and tolerability of the slower dose titration; however, we will
also be measuring blood concentrations of CC8464, which will allow us to better understand the pharmacokinetics of CC8464. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.05pt">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.05pt"> We are currently
working on the development of the Phase 2a proof-of-concept plan and expect to launch the Phase 2a proof-of-concept study in 2024
to assess the potential efficacy of CC8464 in genetically validated EM patients. Though the Phase 2a proof-of-concept study design
has not yet been completed, we expect to launch the study during the fourth quarter of 2024 and expect that the study will take
approximately twelve months after it is initiated. We are anticipating dosing approximately 20 patients diagnosed with genetically
validated EM. We will be using a cross-over design which has the advantage of increasing the study power while keeping the number
of patients relatively low. Each patient will be exposed to both placebo and CC8464 during the two cross-over phases of the trial
but neither the investigators nor the patients will know when they are receiving active drug or placebo. During each dosing period
we will induce an EM flare. The primary endpoint will be the amount of pain experienced during the flare with secondary endpoints
including other measurements like pain relief, time to onset of the flare and neuropathy scores. The final design may change based
on feedback from the FDA or information learned during the dose escalation trial. </P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: -0.05pt"></p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.25pt 0pt 0; text-align: justify; text-indent: -0.05pt"></p>































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































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































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































<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We















were incorporated in Delaware on March 19, 2021. On August 10, 2022, we entered into the Contribution Agreement with Chromocell















Holdings. Pursuant to the Contribution Agreement, as of the Contribution Date, we acquired from Chromocell Holdings all assets, liabilities















and results of operations related to Chromocell Holdings&rsquo; therapeutic business, including all patents, pre-clinical and















Phase I study results and data, and trade secrets related to the CC8464 compound, in exchange for the issuance by us of 10,000,000















shares of Common Stock and (ii) 600,000 shares of Series A Preferred Stock. </font> </p>































































































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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify">Prior to the Contribution















Date, we had only nominal assets and liabilities. Accordingly, the financial statements presented in this prospectus for periods















prior to the Contribution Date have been prepared on a &ldquo;carve-out&rdquo; basis from the financial statements of Chromocell















Holdings to represent our financial position and performance as if it had existed on a stand-alone basis. The financial statements















presented in this prospectus for periods from and after the Contribution Date reflect our financial position and performance as















a stand- alone entity.<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: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All















of the assets, liabilities and results of operations of the Company as of and for the periods prior to the Contribution Date were















identified based on the assets acquired by the Company from Chromocell Holdings. Management believes the assumptions underlying















the Company&rsquo;s carve-out financial statements are reasonable. Nevertheless, the financial statements may not include all















of the actual expenses that would have been incurred had the Company operated as a standalone company during the periods presented,















and may not reflect the Company&rsquo;s results of operations, financial position and cash flows had the Company operated as a















standalone company during the periods presented. Actual costs that would have been incurred if the Company had operated as a standalone















company would depend on multiple factors, including organizational structure and strategic decisions made in various areas, including















information technology and infrastructure.</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify"> On August 2, 2023, we entered into
the Holdings Side Letter to the Contribution Agreement. Pursuant to the Holdings Side Letter, upon closing of the IPO: (a) Chromocell
Holdings will re-assume all $1.6 million in direct liabilities previously assumed by the Company in accordance with the Contribution
Agreement, (b) Chromocell Holdings will waive the Company&rsquo;s obligations to make a cash payment in the amount of $0.6 million
to Chromocell Holdings, and (c) in consideration thereof, we will issue to Chromocell Holdings 2,600 shares of Series C Preferred
Stock. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> In connection with the completion of
the IPO: (A) we will effect a 1-for-9 Reverse Stock Split, (B) all 600,000 issued and outstanding shares of our Series A Preferred
Stock will automatically convert into 499,429 IPO Shares, (C) $591,936 and accrued interest of $34,123 as of January 31, 2024
outstanding under our senior secured convertible notes issued in the Bridge Financings will automatically convert into 130,993
shares of Common Stock, which includes an additional 551 Bonus Shares and includes interests calculated to and through January
31, 2024 (assuming, in the case of (A) through (C) above, an initial public offering price of $6.00&nbsp;per IPO Share, the midpoint
of the price range set forth on the cover page of the IPO Prospectus), (D) we will issue 37,500 Standby
Shares to the Standby Investor, and (E) we will affect the transactions contemplated by the Holdings Side Letter, and issue an
aggregate of 2,600 shares of Series C Preferred Stock to Chromocell Holdings pursuant thereto. We refer to these actions as the
&ldquo;IPO Transactions.&rdquo; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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-top: 0pt; margin-bottom: 0pt; margin-left: 0"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Trends
and Other Factors Affecting Our Business</B></FONT> </P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On December 23, 2023, we entered into
the Benuvia License Agreement for the Spray Formulations, diversifying our pipeline of non-opioid pain treatment therapies, while
adding therapeutic options for related conditions. The Diclofenac Spray Formulation is patented and has started clinical development
in human volunteers. Preliminary pharmacokinetics suggest that this formulation may have a faster onset of action than oral Diclofenac
tablets. Diclofenac is an NSAID that is also marketed under additional brand names including Voltaren and Cataflam in its pill
form. Rizatriptan, whose brand name is Maxalt, is used for the acute treatment of Migraines as a pill. By a number of clinical
measures it is thought to be superior to Sumatriptan. A sublingual formulation of Rizatriptan may potentially have a faster onset
of action than an oral form and may be easier to tolerate than swallowing a pill when patients are experiencing nausea as a result
of the migraine headache. Ondansetron is an anti-emetic that is available in oral and intravenous form. An Ondansetron sublingual
spray formulation may potentially have a faster onset of action than an oral form and may be easier to tolerate than swallowing
a pill when patients are experiencing nausea. Under the terms of the Benuvia License Agreement, Benuvia will be responsible for
the manufacturing and supply of the Spray Formulations, but we will have exclusive, worldwide rights to develop, commercialize
and distribute the Spray Formulations. </P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the Benuvia License Agreement, we agreed to pay Benuvia a six and one-half percent (6.5%) royalty on net sales
of the Spray Formulations for a period of up to 15 years from the date of the first commercial sale of any of the Spray Formulations.
In addition, on December 23, 2023, we entered into the Stock Issuance Agreement pursuant to which we issued to Benuvia 3,458,033
shares (384,226 shares, after giving effect to the Reverse Stock Split) of our Common Stock, which may be offered and sold pursuant
to the Resale Prospectus.</FONT> </P>



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

<P STYLE="margin: 0pt 0">&nbsp;<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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a result, our results of operations and balance sheets may not be indicative of future operating results or of our future financial
condition.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Going
Concern</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the nine months ended September 30, 2023 and 2022 and years ended December 31, 2022 and 2021, respectively, we had a net loss
of $3.3 million, $1.2 million, $2.5 million, and $0.6 million, respectively, and will require significant additional capital in
order to operate in the normal course of business and fund clinical studies. As a result, these conditions have raised substantial
doubt regarding our ability to continue as a going concern beyond one year of the filing of our financial statements. While we
believe in the viability of management&rsquo;s strategy to raise funds and control costs during the development stage, there can
be no assurances to that effect. Our ability to continue as a going concern is dependent upon the ability to complete clinical
studies and implement our business plan, raise capital, generate sufficient revenues and to control operating expenses.</FONT> </P>















































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->















































<p style="margin: 0pt 0; text-indent: 0"></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Results















of Operations</B></FONT></P>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Comparison
of the Nine Months Ended September 30, 2023 and 2022</B></FONT> </P>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table summarizes our results of operations for the nine months ended September 30, 2023 and 2022:</FONT> </P>































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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD STYLE="font-weight: bold"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"> For the Nine<BR> Months Ended </TD><TD STYLE="font-weight: bold"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For
                                         the Nine</B>&nbsp;&nbsp;</FONT> </P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Months
                                         Ended</B></FONT> </P></TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> September&nbsp;30, 2023 </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> September&nbsp;30, 2022 </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> $ Change </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"> &nbsp; </TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> % Change </TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> (Unaudited) </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> (Unaudited) </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> OPERATING EXPENSES </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> &nbsp; </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 40%; text-align: left"> General and administrative expenses </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 12%; text-align: right"> 1,677,078 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 12%; text-align: right"> 371,283 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 12%; text-align: right"> 1,305,795 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 12%; text-align: right"> 352 </TD><TD STYLE="width: 1%; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Research and development </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 285,204 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 97,147 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 188,057 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 194 </TD><TD STYLE="text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Professional fees </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,021,187 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 634,913 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 386,274 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 61 </TD><TD STYLE="text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Total operating expenses </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 2,983,469 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,103,343 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,880,126 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 170 </TD><TD STYLE="text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Loss from operations </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (2,983,469 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (1,103,343 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (1,880,126 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (170 </TD><TD STYLE="text-align: left"> )% </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Other expense </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (358,171 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (97,818 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (260,353 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (266 </TD><TD STYLE="text-align: left"> )% </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Net loss before provision for income taxes </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (3,341,640 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (1,201,161 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (2,140,479 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (178 </TD><TD STYLE="text-align: left"> )% </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Provision for income taxes </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NA</FONT> </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Net loss </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (3,341,640 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (1,201,161 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (2,140,479 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (178 </TD><TD STYLE="text-align: left"> )% </TD></TR>
</TABLE>

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































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















Expenses</I></B></FONT></P>































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































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















operating expenses consist of general and administrative expenses, research and development expenses and professional fees.</FONT></P>































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































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















and Administrative Expenses</I></FONT></P>































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































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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
incurred general and administrative expenses for the nine months ended September 30, 2023 and 2022 of $1,677,078 and $371,283,
respectively. For the nine months ended September 30, 2023, compared to the same period in 2022, this represented an increase
of $1,305,795, or 352%, primarily as a result of increases of $941,989 in stock-based compensation.</FONT> </P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Research















and Development Expenses</I></FONT></P>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
incurred research and development expenses for the nine months ended September 30, 2023 and 2022 of $285,204, and $97,147, respectively.
For the nine months ended September 30, 2023, compared to the same period in 2022, this represented an increase of $188,057, or
194%, with the details set forth in the table below:</FONT> </P>































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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; vertical-align: bottom"> For the Nine<BR> Months Ended </TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; vertical-align: bottom"> For the Nine<BR> Months Ended </TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom"> September&nbsp;30,
    2023 </TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom"> September&nbsp;30,
    2022 </TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom"> $
    Change </TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom"> %
    Change </TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Unaudited)</FONT> </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Unaudited)</FONT> </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD><TD STYLE="text-align: center; vertical-align: bottom"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%"> Consultant </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 12%; text-align: right"> 36,200 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 12%; text-align: right"> 42,850 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 12%; text-align: right"> (6,650 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 12%; text-align: right"> (16 </TD><TD STYLE="width: 1%; text-align: left"> )% </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Lab Gas </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 5,731 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (5,731 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (100 </TD><TD STYLE="text-align: left"> )% </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Lab Cell Storage </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 33,000 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 31,904 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,096 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 3 </TD><TD STYLE="text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt"> IP Services </TD><TD> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> 216,004 </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> 16,662 </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> 199,342 </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"> 1,196 </TD><TD STYLE="border-bottom: Black 1pt solid; text-align: left"> % </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> Total </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 285,204 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 97,147 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 188,057 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 194 </TD><TD STYLE="text-align: left"> % </TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company incurred higher research and development expenses for the nine months ended September 30, 2023, versus the corresponding
period in 2022 primarily as a result of intellectual property services in support of the patent portfolio and development of CC8464.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Professional
Fees</I></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
incurred professional expenses for the nine months ended September 30, 2023 and 2022 of $1,021,187 and $634,913, respectively.
For the nine months ended September 30, 2023, compared to the same period in 2022, this represented an increase of $386,274, or
61%, as a result of higher auditing and legal expenses associated with IPO readiness activities.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Other
(Expense) Income</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
incurred other expense for the nine months ended September 30, 2023 of $358,171 as compared to other expense for the nine months
ended September 30, 2022 of $97,818. For the nine months ended September 30, 2023, compared to the same period in 2022, this represented
an increase of $260,353, or 266%. The other expense for the nine months ended September 30, 2023 was the result of interest expense
and the other expense for the nine months ended September 30, 2022 was the result of the amortization of a debt discount for debt
incurred in 2022 and costs incurred related to our current period debt extensions.</FONT> </P>



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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B>Comparison of the Years Ended December
31, 2022 and 2021</B> </p>































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































































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The following table summarizes our
results of operations for the years ended December 31, 2022 and 2021: </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>































<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">















<tr style="vertical-align: bottom">















    <td style="text-align: center; vertical-align: bottom"> &nbsp; </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td>















    <td colspan="6" style="font-weight: bold; text-align: center; vertical-align: bottom"> December 31, </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; vertical-align: bottom"> $ </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; vertical-align: bottom"> % </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td></tr>















<tr style="vertical-align: bottom">















    <td style="text-align: center; vertical-align: bottom"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom"> 2022 </td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom"> 2021 </td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom"> Change </td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom"> Change </td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="width: 48%"> Revenue </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> - </td><td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> - </td><td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> - </td><td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 10%; text-align: right"> 0 </td><td style="width: 1%; text-align: left"> % </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left"> General and administrative expenses </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 1,098,848 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 496,667 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 602,181 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 121 </td><td style="text-align: left"> % </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left"> Research and development </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 391,730 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 209,047 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 182,683 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 87 </td><td style="text-align: left"> % </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left"> Professional fees </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 827,581 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 133,282 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 694,299 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 521 </td><td style="text-align: left"> % </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left"> Total operating expenses </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 2,318,159 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 838,996 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 1,479,163 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 176 </td><td style="text-align: left"> % </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left"> Loss from operations </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (2,318,159 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (838,996 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (1,479,163 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 176 </td><td style="text-align: left"> % </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left"> Total other (expense) income </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (140,430 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 243,609 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (384,039 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (158 </td><td style="text-align: left"> %) </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left"> Net income (loss) loss before provision for income taxes </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (2,458,589 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (595,387 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (1,863,202 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 313 </td><td style="text-align: left"> % </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left"> Provision for income taxes </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NA</FONT> </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left"> Net loss </td><td> &nbsp; </td>















    <td style="text-align: left"> $ </td><td style="text-align: right"> (2,458,589 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> $ </td><td style="text-align: right"> (595,387 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> $ </td><td style="text-align: right"> (1,863,202 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 313 </td><td style="text-align: left"> % </td></tr>















</table>















<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></p>































































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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0">&nbsp;</p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></p>































































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































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Our operating expenses consist of general
and administrative expenses, research and development expenses and professional fees. Our research and development expenses primarily
consist of consultants in regulatory, clinical development and CMC matters to prepare for the Phase 2 trials as well as maintenance
fees for our patent portfolio plus lab material costs in connection with work for an NIH grant. </p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <I>General and Administrative Expenses</I> </p>































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
general and administrative expenses for the years ended December 31, 2022 and 2021 were $1,098,848 and $496,667, respectively,
representing an increase of $602,181, or 121%. The increase is primarily comprised of an increase of $0.1 million in stock-based
compensation expenses and an increase of $0.3 million increase in payroll expenses.</FONT> </p>































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































































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <I>Research and Development Expenses</I> </p>































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> For the years ended December 31, 2022
and 2021, we incurred research and development expenses of $391,730 and $209,047, respectively, representing an increase of $182,683
or 87%. Details of the research and development expenses are set forth in the table below: </p>































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































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































<table cellspacing="0" cellpadding="0" align="CENTER" style="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">















<tr style="vertical-align: bottom">















    <td style="text-align: center; vertical-align: bottom"> &nbsp; </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td>















    <td colspan="6" style="font-weight: bold; text-align: center; vertical-align: bottom"> December 31 </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; vertical-align: bottom"> $ </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td><td style="font-weight: bold; font-style: italic; text-align: center; vertical-align: bottom"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; font-style: italic; text-align: center; vertical-align: bottom"> % </td><td style="font-weight: bold; font-style: italic; text-align: center; vertical-align: bottom"> &nbsp; </td></tr>















<tr style="vertical-align: bottom">















    <td style="text-align: center; vertical-align: bottom"> &nbsp; </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom"> 2022 </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td><td style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom"> 2021 </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td><td style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom"> Change </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: bottom"> &nbsp; </td><td style="font-weight: bold; font-style: italic; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom"> Change </td><td style="border-bottom: Black 1pt solid; font-weight: bold; font-style: italic; text-align: center; vertical-align: bottom"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="width: 31%"> Consultant </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 9%; text-align: right"> 86,802 </td><td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 9%; text-align: right"> 120,480 </td><td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 9%; text-align: right"> (33,678 </td><td style="width: 1%; text-align: left"> ) </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 9%; text-align: right"> (28 </td><td style="width: 2%; text-align: left"> %) </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left"> Lab gas </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 13,871 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> $ </td><td style="text-align: right"> 8,628 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 5,243 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 61 </td><td style="text-align: left"> % </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left"> Lab cell storage </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 62,197 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> $ </td><td style="text-align: right"> 65,260 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (3,063 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (5 </td><td style="text-align: left"> %) </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td> CSC </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 3,800 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> $ </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 3,800 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 100 </td><td style="text-align: left"> % </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; padding-bottom: 1pt"> IP services </td><td> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> 225,060 </td><td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> $ </td><td style="border-bottom: Black 1pt solid; text-align: right"> 14,679 </td><td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> 210,381 </td><td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> 1,433 </td><td style="border-bottom: Black 1pt solid; text-align: left"> % </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font-weight: bold"> Total </td><td style="font-weight: bold"> &nbsp; </td>















    <td style="font-weight: bold; text-align: left"> $ </td><td style="font-weight: bold; text-align: right"> 391,730 </td><td style="font-weight: bold; text-align: left"> &nbsp; </td><td style="font-weight: bold"> &nbsp; </td>















    <td style="font-weight: bold; text-align: left"> $ </td><td style="font-weight: bold; text-align: right"> 209,047 </td><td style="font-weight: bold; text-align: left"> &nbsp; </td><td style="font-weight: bold"> &nbsp; </td>















    <td style="font-weight: bold; text-align: left"> $ </td><td style="font-weight: bold; text-align: right"> 182,683 </td><td style="font-weight: bold; text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 87 </td><td style="text-align: left"> % </td></tr>















</table>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
increase in research and development expenses is primarily due to an increase of $0.2 million in legal fees and maintenance costs
related to the Company&rsquo;s patent portfolio.</FONT> </p>































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































<P STYLE="margin: 0pt 0; text-align: justify"> &nbsp; </p>































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































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Professional
fees for the years ended December 31, 2022 and 2021 were $827,581 and $133,282, respectively, representing an increase of $694,299,
or 521%. The increase is primarily due to a greater accounting and legal services expenses in preparation for the initial public
offering.</FONT> </p>































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































































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































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































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the years ended December 31, 2022 and 2021, we recognized $140,430 in other expense and $243,609 in other income, respectively.
The other expense for the year ended December 31, 2022 was due to interest expense in the amount of $140,430 and other income
for the year ended December 31, 2021 was due to gain on forgiveness of a PPP loan in the amount of $243,862, offset by interest
expense of $253.</FONT> </p>































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































<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0">Liquidity</p>































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































<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0">Sources















of Liquidity and Capital</p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0">We are in our early















stages of development and growth, without established records of sales or earnings. We will be subject to numerous risks inherent















in the business and operations of financially unstable and early stage or emerging growth companies. We have not yet commercialized















any products, and we do not expect to generate revenue from sales of any lead candidates for several years.</p>































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































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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
totaled $0.0 million and $0.1 million as of September 30, 2023 and December 31, 2022, respectively. As of September 30, 2023 and
December 31, 2022, we had an accumulated deficit of approximately $9.5 million and $6.1 million, respectively, and had a working
capital deficit of $5.9 million and $3.7 million, respectively.</FONT> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0">&nbsp;&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Historically, we have funded our operations
from a series of cash advances from Chromocell Holdings, licensing arrangements, bridge and note issuances and grants from the
National Institutes of Health. </P>

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































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















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Starting in May 2021, we received a







series of advances from Chromocell Holdings that were subsequently codified in the Contribution Agreement as an equity investment,







pursuant to which, the Company issued 10,000,000 shares of Common Stock and 600,000 shares of Series A Preferred Stock to Chromocell







Holdings in exchange for the assets contributed by Chromocell Holdings to the Company.</P>































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

<P STYLE="margin-top: 0; font: 10pt Times New Roman, Times, Serif; margin-bottom: 0; margin-left: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On February 4, 2022, the Company entered into the Investor Note, as amended from time to time, for $450,000.
The Investor Note has an original issuance discount of $150,000, a maturity date of February 3, 2023, and accrues no interest.
As of September 30, 2023, the debt discount was fully amortized. On February 27, 2023, the maturity date of the Investor Note was
extended to May 15, 2023, in return for the payment of monthly interest of 2% on the full value, which shall accrue, and the Holder
agreeing to settle the Investor Note in IPO Shares. On June 23, 2023, we entered into a side letter with the Holder (the &ldquo;June
Investor Note Side Letter&rdquo;), pursuant to which the Investor Note was further amended to extend the maturity date to August
15, 2023 and we issued to the Holder 50,000 shares of Common Stock. On August 17, 2023, we entered into a side letter with the
Holder (the &ldquo;August Investor Note Side Letter&rdquo;), which extended the maturity date to September 30, 2023 and we issued
to the Holder 30,000 shares of Common Stock. On September 24, 2023, we entered into an amendment to the Investor Note, which extended
the maturity date to October 10, 2023. Effective October 10, 2023, we entered into a side letter with the Holder (the &ldquo;October
Investor Note Side Letter&rdquo;), which extended the maturity date to November 14, 2023 and we issued to the Holder 30,000 shares
of Common Stock. Effective November 13, 2023, we entered into the November Investor Note Side Letter, which further extended the
maturity date to January 31, 2024 and we issued to the Holder the November Leak-Out Shares.&nbsp; </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On December 6, 2022, the Company and
Mr. Todd Davis, one of our directors, entered into the Director Note for $175,000. The Director Note has an original issuance
discount of $75,000, and matures on December 31, 2023, or, if earlier to occur, upon the closing of an underwritten offering of
securities resulting in at least $15 million in gross proceeds. Mr. Davis, as lender, has the right but not the obligation to
subscribe to the underwritten offering by presenting the Director Note in whole or in part to purchase such securities as legal
tender therefor, on a dollar-for-dollar basis based upon the offering price of such securities to the public. The Director Note
bears no interest except in the case of certain events of default. As of September 30, 2023, there was an unamortized debt discount
of $17,784. On December 28, 2023, we entered into an amendment to the Director Note, which extended the maturity date to February
29, 2024. </P>



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

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On April 17, 2023, we entered into the April Bridge Financing for working capital purposes, with various
accredited investors, all of whom are pre-existing stockholders, in the aggregate principal amount of $393,808 (together with the
September Bridge Financing, the &ldquo;Bridge Financings&rdquo;). During the nine months ended September 30, 2023, the Company
received Advances in the amount of $166,903 prior to the close of the April Bridge Financing from certain of the participating
investors. Such Advances accrued interest at a rate of eight percent (8%) per annum until close of the April Bridge Financing on
April 17, 2023, for a total of $1,870 in aggregate interest on all Advances. The April Bridge Financing consists of senior secured
convertible notes that had a maturity date of October 17, 2023. On October 12, 2023, we entered into a first amendment to the senior
secured convertible notes in the April Bridge Financing, which extended the maturity of the notes to November 1, 2023. On October
24, 2023, we entered into a second amendment to the senior secured convertible notes in the April Bridge Financing, which extended
the maturity of the notes to November 14, 2023. On November 13, 2023, we entered into a third amendment to the senior secured convertible
notes in the April Bridge Financing, which further extended the maturity of the notes to February 29, 2024. Such notes accrue interest
on the unpaid principal amount at a rate of eight percent (8%) per annum and will automatically convert into 87,643 shares of Common
Stock (including interests calculated to and through January 31, 2024) in connection with the IPO at a twenty percent (20%) discount
to the price per IPO Share (assuming an initial public offering price of $6.00&nbsp;per IPO Share, the midpoint of the price range
set forth on the cover page of the IPO Prospectus). The senior secured convertible notes issued in the April Bridge Financing are
secured by a security interest in all of our assets (including our patents and intellectual property licenses). In connection with
the April Bridge Financing, on April 17, 2023, we also entered into a securities purchase agreement with holders of the notes,
pursuant to which we are required to file a registration statement within 180 calendar days after consummation of the IPO, providing
for the resale of Common Stock received by holders of the notes upon conversion of such notes.&nbsp; </P>

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
















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On August 2, 2023, we entered into
the Holdings Side Letter to the Contribution Agreement. Pursuant to the Holdings Side Letter, upon closing of the IPO: (a) Chromocell
Holdings will re-assume all $1.6 million in direct liabilities previously assumed by the Company in accordance with the Contribution
Agreement, (b) Chromocell Holdings will waive the Company&rsquo;s obligations to make a cash payment in the amount of $0.6 million
to Chromocell Holdings, and (c) in consideration thereof, we will issue to Chromocell Holdings 2,600 shares of Series C Preferred
Stock. </P>















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















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Series C Preferred Stock will have







a liquidation preference of $1,000 per share. Holders of the Series C Preferred Stock will not be entitled to dividends, will







have no voting rights other than as required by law, will be convertible into shares of Common Stock following the IPO at the







holder&rsquo;s option, will convert into shares of Common Stock automatically if, following the IPO, the trading price of the







Common Stock exceeds certain thresholds, and will be redeemable by the Company for cash. For more information, see &ldquo;Description







of Capital Stock&ndash;Series C Preferred Stock.&rdquo;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On September 1, 2023, we entered into
the September Bridge Financing in the aggregate principal amount of $198,128. The September Bridge Financing consists of senior
secured convertible notes that have a maturity date of March 1, 2024. Such notes accrue interest on the unpaid principal amount
at a rate of eight percent (8%) per annum and will automatically convert into shares of Common Stock in connection with the IPO
at a twenty percent (20%) discount to the price per IPO Share plus 551 Bonus Shares (43,350 shares, assuming an initial public
offering price of $6.00 per IPO Share, the midpoint of the price range set forth on the cover page of the IPO Prospectus). The
senior secured convertible notes issued in the September Bridge Financing are secured by a security interest in all of our assets
(including our patents and intellectual property licenses). In connection with the September Bridge Financing, on March 1, 2023,
we also entered into a securities purchase agreement with holders of the notes, pursuant to which we are required to file a registration
statement within 180 calendar days after consummation of the IPO, providing for the resale of Common Stock received by holders
of the notes upon conversion of such notes. Additionally, we entered into a subordination and intercreditor agreement, effective
September 1, 2023, with the holders of the senior secured convertible notes issued in the April Bridge Financing, pursuant to
which those notes and certain liens of the Company will be subordinated to the rights of the holders of the notes issued in the
September Bridge Financing. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
connection with the September Bridge Financing, the Company and certain holders of the senior secured convertible notes issued
in the April Bridge Financing and the September Bridge Financing agreed to waive certain prohibitions in order to permit the issuance
of Series C Preferred Stock and the shares of Common Stock issuable in connection with this IPO.</FONT> </P>

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

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On October 11, 2023, we entered into
a securities purchase agreement with the Standby Investor pursuant to which (i) the Standby Investor agreed to purchase, upon
close of the IPO and at our election, an aggregate of up to 750 shares of Series B Preferred Stock for a purchase price of $1,000
per share, and (ii) in consideration therefor, we would issue upon close of the IPO, and regardless
of whether we would have issued any shares of Series B Preferred Stock, an aggregate of 37,500 Standby Shares to the Standby Investor.
In addition, pursuant to the Series B Securities Purchase Agreement, we were required to file a registration statement within
180 calendar days after consummation of the IPO, providing for the resale of the Standby Shares and shares of Common Stock issuable
upon conversion of the Series B Preferred Stock, if issued. Effective November 13, 2023, we entered into the Standby Investor
Side Letter, pursuant to which we (i) waived in full the Standby Investor&rsquo;s obligation to fund the aggregate amount to be
paid for the Series B Preferred Stock to be purchased under the Series B Securities Purchase Agreement and (ii) agreed to continue
to have the obligation to issue the full amount of the Standby Shares upon the closing of the IPO. We and the Standby Investor
also agreed to terminate each of our obligations solely with respect to the Series B Preferred Stock under the Series B Securities
Purchase Agreement and that certain Registration Rights Agreement between us and the Standby Investor, which was required to be
delivered pursuant to the Series B Securities Purchase Agreement. </P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
October 12, 2023, we and four existing investors entered into the October Promissory Notes with an aggregate face amount of $210,000
and an aggregate purchase price of $175,000. The October Promissory Notes mature on November 12, 2023 or, if earlier to occur,
upon the closing of this offering. The October Promissory Notes bear no interest except in the case of certain events of default.
On November 7, 2023, we amended and restated the October Promissory Notes to extend the maturity dates of the October Promissory
Notes to November 17, 2023. On November&nbsp;13, 2023, we amended and restated the October Promissory Notes to further extend
the maturity dates of the Promissory Notes to February 29, 2024.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
November 22, 2023, we commenced the Rights Offering pursuant to which we distributed Subscription Rights to each holder of our
Common Stock held as of the Rights Offering Record Date. The Subscription Rights could be exercised at any time during the subscription
period, which commenced on November 22, 2023 and expired at 5:00 p.m., Eastern Standard Time, on December 1, 2023. Each Subscription
Right entitled the eligible holder to purchase up to three shares of our Common Stock at a price per whole share of Common Stock
of $0.0112. Holders who fully exercised their rights could also subscribe for additional shares of Common Stock not subscribed
for by other holders on a pro rata basis. In addition, we could distribute to one or more additional persons, at no charge to
such person, additional non-transferable subscription rights to purchase shares of our Common Stock in the Rights Offering at
the same Subscription Price, without notice to the holders of our Common Stock. Upon the closing of the Rights Offering, we issued
an aggregate of 22,732,336 shares of our Common Stock and received aggregate net proceeds of $254,602, which we intend to use
primarily for general corporate purposes and expenses associated with our initial public offering.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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"> We are negotiating an arrangement with the Holder
of the Investor Note to enter into an ELOC subsequent to the IPO, pursuant to which we will have the right, but not the obligation, to
sell to the Holder up to $20,000,000 in newly issued shares of our Common Stock, subject to certain limitations. Pursuant to the terms
of the proposed arrangement, we will pay the holder a commitment fee of $1,000,000, which may be paid at our election, in cash or shares
of Common Stock, upon entry into the ELOC. In addition, we will agree to certain registration rights pursuant to which we will register
the securities issuable under the ELOC subsequent to the expiration of the lock-up agreement we enter into with the Representative in
connection with the IPO. We also intend to agree, during the proposed two-year term of the ELOC, to not enter into any variable, reset,
or otherwise adjustable equity or equity-linked transactions. In the event we do not close the ELOC within forty-five (45) days of the
consummation of this IPO and have the registration statement referred to above effective within ninety (90) days of the expiration of
any IPO standstill period, we expect to be obligated to pay to the holder a break-up fee in the amount of $1,000,000 and will not be
able to raise capital for sixty (60) days thereafter; provided that, we and the Holder may agree to enter into other form of investments,
such as a private investment in public equity transaction. </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: 0pt 0; text-align: justify"> We anticipate that we will enter into
a purchase agreement to issue the shares of Common Stock issuable pursuant to the ELOC subsequent to the closing of the IPO; however,
as of the date hereof, we have not reached a formal agreement with the Holder with respect to the ELOC and accordingly, we may
not be successful in establishing such ELOC or, in the event we do establish such ELOC, we may not be able to do so on terms as
favorable as those described above. &nbsp; </P>



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



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































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<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>































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















Funding Requirements</P>

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







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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our
primary use of cash is to fund clinical development, operating expenses and repay accrued liabilities associated with our initial
public offering.</FONT> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
respect to the Company&rsquo;s future expected operations expenses, the primary expense drivers will be research and development
and management overhead, including costs of being a public company. Of these, it is expected that research and development will
be the largest expense and comprise approximately $3.0 million in the twelve months following the offering of IPO Shares pursuant to
the IPO Prospectus, which will be utilized for the Company&rsquo;s escalation study and Phase II drug trial costs. We have based
the research and development costs on current trial parameters and expectations on certain existing tax credits, and there is
no certainty that the trial parameters or tax credits available to the Company will remain as they are, which could lead to changes
in our research and development expenditures. Cash used to fund operating expenses is impacted by the timing of when we pay these
expenses, as reflected in the change in our outstanding accounts payable, accrued expenses and prepaid expenses.</FONT> </P>
































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







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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We expect to continue to incur significant















and increasing expenses and operating losses in connection with our ongoing research and development activities. In addition,















upon the closing of the IPO, we expect to incur additional costs associated with operating as a public company. As a result, we















expect to incur substantial operating losses and negative operating cash flows for the foreseeable future.</P>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on our current operating plan,















we believe that the net proceeds from the IPO pursuant to the IPO Prospectus, together with our existing cash, will be sufficient















to fund our operations and capital expenses through the end of 2024. However, we have based this estimate on assumptions that















may prove to be incorrect, and we could exhaust our capital resources sooner than we expect.</P>































































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































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may also raise additional funding















through strategic relationships, public or private equity or debt financings, credit facilities, grants or other arrangements.















If such funding is not available or not available on terms acceptable to us, our current development plan and plans for expansion















of our general and administrative infrastructure may be curtailed. If we raise additional funds through the issuance of preferred















stock, convertible debt securities or other debt financing, these securities or other debt could contain covenants that restrict















our operations. Any other third- party funding arrangement could require us to relinquish valuable rights.</p>































































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































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">The source, timing and















availability of any future financing will depend principally upon market conditions. Funding may not be available when needed,















at all, or on terms acceptable to us. Lack of necessary funds may require us to, among other things, delay, scale back or eliminate















expenses including some or all of our planned development. There is substantial doubt about our ability to continue as a going















concern.</P>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Cash















Flows</I></B></FONT></P>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> The following
table summarizes our cash flows for the nine months ended September 30, 2023 and 2022: </P>































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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For
                                         the Nine&nbsp;</B></FONT> </P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Months
                                         Ended</B></FONT> </P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>September&nbsp;30,
                                         2023</B></FONT> </P></TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For
                                         the Nine</B>&nbsp;</FONT> </P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Months
                                         Ended&nbsp;</B></FONT> </P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>September&nbsp;30,
                                         2022</B>&nbsp;&nbsp;</FONT> </P></TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$&nbsp;</B></FONT> </P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Change</B></FONT> </P></TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>%&nbsp;</B></FONT> </P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Change</B></FONT> </P></TD><TD STYLE="padding-bottom: 1pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> (Unaudited) </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> (Unaudited) </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD><TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> &nbsp; </TD><TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-align: left"> Net cash used in operating activities </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 12%; text-align: right"> (624,224 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 12%; text-align: right"> (900,531 </TD><TD STYLE="width: 1%; text-align: left"> ) </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> $ </TD><TD STYLE="width: 12%; text-align: right"> 276,307 </TD><TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: left"> &nbsp; </TD><TD STYLE="width: 12%; text-align: right"> (31 </TD><TD STYLE="width: 1%; text-align: left"> )% </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Net cash used in investing activities </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> - </TD><TD STYLE="text-align: left"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"> Net cash provided by financing activities </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 591,936 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> 1,073,771 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (481,835 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (45 </TD><TD STYLE="text-align: left"> )% </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"> Net (decrease) increase in cash </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (32,288 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> 173,240 </TD><TD STYLE="text-align: left"> &nbsp; </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> $ </TD><TD STYLE="text-align: right"> (205,528 </TD><TD STYLE="text-align: left"> ) </TD><TD> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD><TD STYLE="text-align: right"> (119 </TD><TD STYLE="text-align: left"> )% </TD></TR>
</TABLE>

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































<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.35pt; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.35pt; text-align: justify"></p>















































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.35pt; text-align: justify"></p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The following table summarizes our















cash flows for the year ended December 31, 2022 and 2021: </p>































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































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































<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">















<tr style="vertical-align: bottom">















    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>December&nbsp;31,</B></FONT></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2022</B></FONT></p></td><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>December&nbsp;31,















                                         </B></FONT></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2021</B></FONT></p></td><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>$&nbsp;</B></FONT></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Change</B></FONT></p></td><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%<br>















    Change</FONT></td><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <TD STYLE="width: 40%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net















    cash used in operating activities</FONT></td><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,567,149</FONT></td><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></td><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,593,011</FONT></td><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></td><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25,862</FONT></td><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2</FONT></td><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%)</FONT></td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net cash used in















    investing activities</FONT></td><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></td><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></td><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></td><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></td><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net cash provided















    by financing activities</FONT></td><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,622,223</FONT></td><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,593,011</FONT></td><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">29,212</FONT></td><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</FONT></td><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net increase in















    cash</FONT></td><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55,074</FONT></td><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></td><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55,074</FONT></td><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td>















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></td><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></td><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></td></tr>















</table>















































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















































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<p style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Net















Cash Used in Operating Activities</I></FONT></P>































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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the nine months ended September 30, 2023, we incurred a net loss of $3,341,640, and net cash flows used in operating activities
was $624,224. The cash flow used in operating activities was primarily due to a net loss of $3,341,640, offset by stock-based
compensation expense of $941,989, a change in account payable and accrued expense of $1,166,880, share issuance cost associated
with the extension of the bridge loan in the amount of $201,600 and an increase in accrued compensation in the amount of $340,161.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the nine months ended September 30, 2022, we incurred a net loss of $1,201,161, and net cash flows used in operating activities
was $900,531. The cash flow used in operating activities was due to a net loss of $1,201,161, offset by a change in amortization
of debt discount of $97,818 and an increase in accrued compensation in the amount of $120,481.</FONT> </P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the year ended December 31, 2022, we incurred a net loss of $2,458,589, and net cash flows used in















operating activities was $1,567,149. The cash flow used in operating activities resulted from the net loss of $2,458,589, primarily















offset by $110,146 in stock-based compensation expenses, $140,430 of debt discount amortization, an increase in accounts payable















and accrued expenses of $413,603 and an increase in accrued compensation of $221,875.</font> </p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> For the year ended December 31, 2021, we incurred a net loss of $595,387, and net cash flows used in operating















activities was $1,593,011. The cash flow used in operating activities was primarily due to a change in account payable and accrued















expense of $827,703 and the forgiveness of the PPP loan in the amount of $241,793. </p>































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































































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Net















Cash (Used in) Provided by Investing Activities</i></font> </p>































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































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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company neither received nor used cash in investing activities during the nine months ended September 30, 2023 and 2022, and for
the years ended December 31, 2022 and 2021.</FONT> </P>



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















































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Net
Cash Provided by Financing Activities</I></FONT></p>































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































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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the nine months ended September 30, 2023, net cash flows provided by financing activities were $591,936 resulting from proceeds
from loans, with $410,928 of that amount derived from related parties.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the nine months ended September 30, 2022, net cash flows provided by financing activities were $1,073,771, primarily consisting
of cash received from a bridge loan in the amount of $300,000 and an advance from Chromocell Holdings, net of contribution, in the amount of $773,771.&nbsp;</FONT> </P>

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































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































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































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















the year ended December 31, 2022, net cash flows provided by financing activities were $1,622,223, consisting of cash received















from an advance by Chromocell Holdings in the amount of $800,050, cash transfers from Chromocell Holdings to the Company in the















amount of $422,173 and total net proceeds from the issuance of two notes in the amount of $400,000.</font> </p>































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































































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































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















the year ended December 31, 2021, net cash flows provided by financing activities were $1,593,011, consisting of cash received















from an advance by Chromocell Holdings in the amount of $1,099,950 and cash transfers from Chromocell Holdings to the Company















in the amount of $493,061.</font></p>































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































<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Off-Balance















Sheet Arrangements</p>































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































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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the nine months ended September 30, 2023 and 2022 and the years ended December 31, 2022 and 2021, we did not have, and we do not
currently have, any off-balance sheet arrangements, as defined under applicable SEC rules.</FONT> </P>



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































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">&nbsp;</p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"></p>































































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































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















Accounting Estimates</b></font></p>































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















following discussions are based upon our financial statements, which have been prepared in accordance with accounting principles















generally accepted in the United States.</font></p>































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















preparation of these financial statements requires management to make estimates, judgments and assumptions that affect the reported















amounts of assets, liabilities, revenues and expenses, and related disclosures of contingencies. We continually evaluate the accounting















policies and estimates used to prepare the financial statements. We base our estimates on historical experiences and assumptions















believed to be reasonable under current facts and circumstances. Actual amounts and results could differ from these estimates















made by management.</font></p>































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















Note 3 - Summary of Significant Accounting Policies to the accompanying financial statements for a detailed description of our















significant accounting policies.</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Income















Taxes</i></b></font></p>































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















are subject to income taxes in the U.S. Significant judgment is required in determining income tax expense, deferred taxes and















uncertain tax positions. The underlying assumptions are also highly susceptible to change from period to period. In assessing















the realizability of deferred tax assets, management considers whether it is more likely than not that some or all the deferred















tax assets will be realized. The ultimate realization of deferred taxes assets is dependent upon generation of future taxable















income during the period in which those temporary differences become deductible. Management considers the scheduled reversal of















deferred tax liabilities, projected future taxable income, and taxable income in carryback years and tax-planning strategies when















making this assessment. There is currently significant negative evidence which contributes to our recording a valuation allowance















against our deferred tax assets due to cumulative losses since inception.</font></p>































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















we believe our assumptions, judgments, and estimates are reasonable, changes in tax laws or our interpretation of tax laws and















the resolution of any tax audits could significantly impact the amounts provided for income taxes in our consolidated financial















statements. The effect on deferred tax assets and liabilities from a change in tax rates is recognized in income in the period















that includes the enactment date. Adjustments to income tax expense, to the extent we establish a valuation allowance or adjust















the allowance in a future period, could have a material impact on our financial condition and results of operations.</font></p>































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















critical accounting estimates below do not represent a material estimate in the preparation of our financial statements.</font></p>































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































































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><br>















<b>Recently Issued and Adopted Accounting Pronouncements</b></font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In

December 2019, the Financial Accounting Standards Board (&ldquo;FASB&rdquo;) issued Accounting Standards Update, or ASU, No. 2019-12,

Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, or ASU 2019-12, which is intended to simplify various aspects

related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies

and amends existing guidance to improve consistent application. This guidance is effective for fiscal years, and interim periods within

those fiscal years, beginning after December 15, 2020, with early adoption permitted. The adoption of ASU 2019-12 did not have a material

effect on the Company&rsquo;s financial statements.</FONT></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify">In June 2016, the FASB issued ASU No. 2016-13,

Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which requires

an entity to utilize a new impairment model known as the current expected credit loss (CECL) model to estimate its lifetime &ldquo;expected

credit loss&rdquo; and record an allowance that, when deducted from the amortized cost basis of the financial assets and certain other

instruments. ASU 2016-13 requires a cumulative effect adjustment to the balance sheet as of the beginning of the first reporting period

in which the guidance is effective. In November 2019, the FASB issued ASU 2019-10, Financial Instruments&mdash;Credit Losses (Topic 326),

Derivatives and Hedging (Topic 815) and Leases (Topic 842): Effective Dates, which defers the effective date of ASU 2016-13 to fiscal

years beginning after December 15, 2022 for all entities except SEC reporting companies that are not smaller reporting companies. ASU

2016-13 became effective for the Company beginning January 1, 2023. The adoption of this ASU did not have a material effect on the Company&rsquo;s

financial statements.</P>



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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In August 2020, the FASB issued ASU 2020-06,

which simplifies the guidance on the issuer&rsquo;s accounting for convertible debt instruments by removing the separation models for

convertible debt with a cash conversion feature and convertible instruments with a beneficial conversion feature. As a result, entities

will not separately present in equity an embedded conversion feature in such debt and will account for a convertible debt instrument

wholly as debt, unless certain other conditions are met. The elimination of these models will reduce reported interest expense and increase

reported net income for entities that have issued a convertible instrument that is within the scope of ASU 2020-06. Also, ASU 2020-06

requires the application of the if-converted method for calculating diluted earnings per share and treasury stock method will be no longer

available. ASU 2020-06 is applicable for fiscal years beginning after December 15, 2022, with early adoption permitted no earlier than

fiscal years beginning after December 15, 2020. The Company does not intend to early adopt, and continues to evaluate the impact of the

provisions of ASU 2020-06 on its consolidated financial statements.</P>



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































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The















FASB issues ASUs to amend the authoritative literature in ASC. There have been several ASUs to date, including those above, that















amend the original text of ASC. Management believes that those issued to date either (i) provide supplemental guidance, (ii) are















technical corrections, (iii) are not applicable to us or (iv) are not expected to have a significant impact on our financial statements.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Other















accounting standards that have been issued or proposed by FASB and do not require adoption until a future date are not expected















to have a material impact on the consolidated financial statements upon adoption. Management does not believe that any other recently















issued, but not yet effective, accounting standard if currently adopted would have a material effect on the accompanying financial















statements.</font></p>































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<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0">&nbsp;</p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="a010_v1"></a>BUSINESS</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Overview</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><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: 0pt 0; text-align: justify">We are a clinical-stage biotech company















focused on developing and commercializing new therapeutics to alleviate pain. Our clinical focus is to selectively target the















sodium ion-channel known as &ldquo;NaV1.7&rdquo;, as well as other receptors in the NaV family. NaV1.7 has been genetically validated















as a pain receptor in human physiology. Genetic studies have shown that families with a certain inherited NaV1.7 modulation consistently















show a pathology of not feeling pain. A strong correlation between such inherited NaV1.7 modulation and EM patients who suffer















from burning pain in their hand and feet was confirmed in a separate study that was reported in the Journal of Clinical Investigation.















The study assessed the pattern of pain, natural history, somatosensory profile, psychosocial status and olfactory testing in patients















with primary inherited erythromelalgia with mutations of SCN9A, the gene encoding Na(v)1.7.&nbsp;All subjects reported pain and















heat in the extremities (usually feet and/or hands), with pain attacks triggered by heat or exercise and relieved mainly by non-pharmacological















maneuvers such as cooling. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel in a way to















prevent the transmission of pain perception to the CNS. Our goal is to develop a novel and proprietary class of NaV blockers that















target the body&rsquo;s peripheral nervous system, initially EM, a rare condition that primarily affects the feet and, less commonly,















the hands (extremities). It is characterized by intense, burning pain of affected extremities, severe redness (erythema), and















increased skin temperature that may be episodic or almost continuous in nature.</p>















































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify">&nbsp;</p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">According to Mordor Intelligence, the















global pain management market was valued at approximately $67 billion in 2021, and it is expected to have revenues of $89 billion















in 2027, with a CAGR of 4.65% over the forecast period. Also, according to Mordor Intelligence, the United States has the largest















market for pain management pharmaceuticals and Asia-Pacific is the region showing the strongest growth. North America holds the















largest share in the pain management market, with the United States being the most significant contributor to its revenue. According















to data published by the Centers for Disease Control and Prevention (&ldquo;CDC&rdquo;), in 2019, 20.4% of adults had chronic















pain, and 7.4% of adults had chronic pain that had limited work and daily activities frequently. Additionally, according to the















CDC, chronic pain increased with age, and the highest level was reported in patients aged 65 years and above. The prescription















pain management market in the United States is still largely dominated by opioid analgesics. Opioid analgesics decrease the perception















of pain by stimulating a range of opioid receptors that modulate pain signals. The most widely used opioid analgesics, including















morphine, fentanyl and hydromorphone, act primarily through the activation of mu opioid receptors in the CNS. However, because















of the wide distribution of mu opioid receptors throughout the brain, morphine and other mu opioid analgesics also trigger a characteristic















pattern of adverse side effects, in particular severe abuse and addiction.</p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The global pain market reflects total















revenues of drugs mitigating different types of pain, such as backpain, osteoarthritis, post-operative pain and various orphan















diseases with pain symptoms. Our current research is focused on EM; correspondingly, our commercial efforts are targeting the















potential for EM therapeutics within the overall pain market. According to studies quoted by The Erythromelalgia Association,















estimates of the incidence rate for EM vary from 1.3 to 15 per 100,000 persons, reflecting a potential EM patient population from















5,000 to 50,000 in the U.S. Our lead compound, CC8464, could possibly have applications in pain mitigation outside of EM, but neither















biological nor clinical studies have provided sufficient data to enable meaningful predictions on the probability of an expanded















range of indications.</p>































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































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">CC8464 is designed to address both















the underlying condition and mitigate the burning pain symptoms that EM patients experience by blocking the NaV1.7 sodium channel.















Genetic studies presented in the Journal of Clinical Investigation have established a correlation between particular mutation















in the NaV1.7 gene and the occurrence of EM where patients suffer from burning pain in their hand and feet. The study assessed















the pattern of pain, and other criteria in patients with primary inherited erythromelalgia with mutations of SCN9A, the gene encoding















Na(v)1.7.&nbsp;All subjects reported pain and heat in the extremities (usually feet and/or hands), with pain attacks triggered















by heat or exercise and relieved mainly by non-pharmacological maneuvers such as cooling. Based on the correlation between the















mutations and frequency of EM occurrence, we believe CC8464 has the potential to address the underlying condition and mitigate















the burning pain symptoms that patients experience. The chemical characteristics of CC8464 restrict its entry into the CNS and















limit its effect to the NaV1.7 receptors in the peripheral nervous system, which consists of the nerves outside the brain and















spinal cord. Activation of other receptors in the CNS can result in side effects, including addiction and other psychiatric disorders.















Since CC8464 is designed to modulate pain signals without activation of receptors in the CNS, it is not expected to produce psychiatric















side effects. Based on its characteristics, preclinical studies (described below) and the Phase 1 study we have completed to date,















we believe that our lead compound CC8464, if approved, could become an attractive option for both patients and physicians as a















treatment for moderate-to-severe pain in EM.</p>































































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































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































































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































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































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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We observed certain incidents of rashes
during the trial for which we developed a mitigation strategy that involves slower dose escalation, hospitalization and frequent
physical examinations. We have developed a dose escalation study design and expect to launch patient procurement in early 2024
with expected first patient dosing in the second quarter of 2024. The dose escalation trial will enroll approximately 32 healthy
volunteers who will receive CC8464 over a period of several weeks, with the dose escalation study expected to take approximately
nine months. We anticipate that the slower dose escalation will decrease the likelihood of drug-related skin reactions. The primary
endpoint of the dose escalation trail will be safety and tolerability of the slower dose titration; however, we will also be measuring
blood concentrations of CC8464, which will allow us to better understand the pharmacokinetics of CC8464. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are currently working on the development of the Phase 2a proof-of-concept plan and expect to launch the Phase 2a proof-of-concept
study in 2024 to assess the potential efficacy of CC8464 in genetically validated EM patients. Though the Phase 2a proof-of-concept
study design has not yet been completed, we expect to launch the study during the fourth quarter of 2024 and expect that the study
will take approximately twelve months after it is initiated. We are anticipating dosing approximately 20 patients diagnosed with
genetically validated EM. We will be using a cross-over design which has the advantage of increasing the study power while keeping
the number of patients relatively low. Each patient will be exposed to both placebo and CC8464 during the two cross-over phases
of the trial but neither the investigators nor the patients will know when they are receiving active drug or placebo. During each
dosing period we will induce an EM flare. The primary endpoint will be the amount of pain experienced during the flare with secondary
endpoints including other measurements like pain relief, time to onset of the flare and neuropathy scores. The final design may
change based on feedback from the FDA or information learned during the dose escalation trial.</FONT> </P>

<P STYLE="margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are evaluating whether to conduct

the dose escalation and proof-of-concept studies outside of the U.S. to take advantage of beneficial tax credits or lower costs.

One example is Australia, which has a 43.5% tax credit for clinical expenses incurred in Australia. Data from clinical trials

conducted in Australia is accepted by the FDA.</P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If approved, we believe that CC8464

could provide pain and symptom relief for EM patients. CC8464 is currently the only compound that we have advanced into clinical

development.</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, there is scientific evidence that the NaV1.7 receptor is present on the cornea and may be a viable biological target
for treating eye pain. Eye pain may occur with various conditions, including severe dry eye disease, trauma and surgery. Existing
therapies for eye pain (such as steroids, topical non-steroidal anti-inflammatory agents, lubricants, local anesthetics) are limited
in their effectiveness and/or limited in the duration that they may be prescribed because of safety issues. We intend to explore
the viability of developing CC8464 as a topical agent for the relief of eye pain. A potential advantage of this approach is that
topical administration of CC8464 is unlikely to lead to any hypersensitivity or skin reactions, like what was noted with systemic
administration of CC8464, because the systemic absorption from a topical administration would be extremely limited. We have commenced
development of a topical ophthalmic formulation of CC8464 that would initially be utilized for toxicology and in vivo studies
and then followed by a proof-of-concept trial in patients suffering from various conditions, including severe dry eye disease,
trauma and surgery. We expect the trials for this ophthalmic formulation of CC8464 to start in the second quarter of 2024.</FONT> </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may further expand our pipeline with other internal or external compounds in the future, but all other internally discovered compounds
are pre-clinical and no commercial discussions about in-licensing have been initiated to date, other than as disclosed herein
with respect to the licensing of the Spray Formulations.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On December 23, 2023, we entered into
the Benuvia License Agreement for the Spray Formulations, diversifying our pipeline of non-opioid pain treatment therapies, while
adding therapeutic options for related conditions. The Diclofenac Spray Formulation is patented and has started clinical development
in human volunteers. Preliminary pharmacokinetics suggest that this formulation may have a faster onset of action than oral Diclofenac
tablets. Diclofenac is an NSAID that is also marketed under additional brand names including Voltaren and Cataflam in its pill
form. Rizatriptan, whose brand name is Maxalt, is used for the acute treatment of Migraines as a pill. By a number of clinical
measures it is thought to be superior to Sumatriptan. A sublingual formulation of Rizatriptan may potentially have a faster onset
of action than an oral form and may be easier to tolerate than swallowing a pill when patients are experiencing nausea as a result
of the migraine headache. Ondansetron is an anti-emetic that is available in oral and intravenous form. An Ondansetron sublingual
spray formulation may potentially have a faster onset of action than an oral form and may be easier to tolerate than swallowing
a pill when patients are experiencing nausea. Under the terms of the Benuvia License Agreement, Benuvia will be responsible for
the manufacturing and supply of the Spray Formulations, but we will have exclusive, worldwide rights to develop, commercialize
and distribute the Spray Formulations. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> In connection with the Benuvia License
Agreement, we agreed to pay Benuvia a six and one-half percent (6.5%) royalty on net sales of the Spray Formulations for a period
of up to 15 years from the date of the first commercial sale of any of the Spray Formulations. In addition, on December 23, 2023,
we entered into the Benuvia Stock Issuance Agreement pursuant to which we issued to Benuvia 3,458,033 shares (384,226 shares,
after giving effect to the Reverse Stock Split) of our Common Stock, which may be offered and sold pursuant to the Resale Prospectus. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="margin: 0pt 0">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our















Strategy</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-align: justify">We are a clinical-stage pharmaceutical















company focused on non-opioid pain blockers in the NaV space. Our development programs are initially designed to address the underlying















condition and mitigate the burning pain symptoms in EM. Based on genetic studies, several academic and clinical scientists have















suggested that NaV1.7 could be a promising target to address EM. Studies presented in the Journal of Clinical Investigation show















a correlation between a genetic mutation (SCN9A) and the expression of the disease phenotype in EM patients. The study assessed















the pattern of pain, natural history, somatosensory profile, psychosocial status and olfactory testing of 13 subjects with primary















inherited erythromelalgia with mutations of SCN9A, the gene encoding Na(v)1.7.&nbsp;All subjects reported pain and heat in the















extremities (usually feet and/or hands), with pain attacks triggered by heat or exercise and relieved mainly by non-pharmacological















maneuvers such as cooling. Quantitative sensory testing revealed significantly increased detection thresholds for cold and warm















stimuli at affected, compared to unaffected sites of the body. By contrast, significantly decreased cold and heat pain thresholds















were found at unaffected sites of the body. The NIH database of rare diseases specifically mentions the genetic causation of EM















in patients with the SCN9A gene, which encodes for the NaV1.7 sodium channel. Our first aim is to assess CC8464&rsquo;s potential















as a drug for EM patients that have a genetic disposition to develop the phenotype.</p>































<P STYLE="margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The therapeutic benefit of CC8464 will,















among other factors, be determined by its potency and selectivity. The potency reflects the compound&rsquo;s effect in blocking















the NaV1.7 channel. The selectivity is the absence of effects in blocking other, similar channels (e.g. NaV1.5) that could cause















undesirable side effects. We conducted <i>in vitro</i> and <i>in vivo</i> studies described in more detail below that showed both















a high potency and selectivity of CC8464. While positive results of <i>in vitro</i> and <i>in vivo</i> studies do not necessarily















translate into human studies, we believe that the consistency of results in various <i>in vivo</i> models (rat, mouse, mini-pig)















supports the projection of a potential positive outcome in clinical studies.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">CC8464 is a potent inhibitor of the















inactivated state of the human NaV1.7. We measured with our electrophysiology equipment the difference in affinity between cells















with and without CC8464 added <I>in vitro</I>. The results showed that the compound preferentially inhibits the inactivated state















of the channel with 1000-fold higher affinity as compared to the resting state. Injury or chronic inflammation is associated with















persistent neuronal depolarization that shifts hNaV1.7 channels to the inactivated state. Therefore, CC8464 may preferentially















affect injured or inflamed tissues while having minimal effect on the hNaV1.7 channels in uninjured/healthy tissues. CC8464 displays















high target selectivity and a favorable in vitro cardiac safety profile (<I>in vitro </I>electrophysiology experiments where we















measured differences between cells with and without CC8464 added showed a&gt;1,000-fold selectivity for human NaV1.7 over human















NaV1.5, hERG and human CaV1.2 ion channel receptors). Further, a canine cardiovascular and respiratory <I>in vivo </I>study where















vital signs of canines were monitored after administering CC8464 showed no adverse findings. CC8464 demonstrated minimal activity















against a broad array of potential targets and off-targets with only one confirmed IC50 less than 10 &mu;M (&kappa;-opioid receptor















agonist). At predicted therapeutic doses, there is &gt;100-fold selectivity for hNaV1.7 over the &kappa;-opioid receptor. In vivo,















CC8464 selectivity may be augmented by a lack of exposure in the central nervous system. In an <I>in vivo</I> tissue distribution















study in rats all of the tissues in the central nervous system did not have measurable concentrations of CC8464-derived radioactivity















at any time point post-dose. Behavioral effects potentially attributable to the CNS have not been observed in animals. There were















no CC8464 related effects on any parameter in the functional observational battery evaluation conducted as a part of the 28-day















repeat dose study in rats. In a streptozotocin-induced diabetic neuropathy model, wherein rats self-administered CC8464, there















was no increase in intake in up to 8 weeks of dosing. There was no evidence of motor/balance impairments on observational measurements















in the foot-fault test, where motoric/balance impairments are monitored <I>in vivo </I>after administering CC8464. Also, no immobility















or lethargy observations were reported in cage side observations in any of the nonclinical efficacy studies performed. CC8464















has shown statistically significant efficacy in reversing pain in several nonclinical neuropathic and inflammation induced pain















models, where motoric/balance impairments were monitored <I>in vivo</I> by comparing results from animal cohorts and preventing















the emergence of neuropathic pain in neuropathic pain models. CC8464 has been shown to reverse thermal and mechanical hyperalgesia,















spontaneous pain and tactile allodynia in these models. The reversal of hyperalgesia endpoints follows the pharmacokinetics of















CC8464 in plasma. The reversal of tactile allodynia in rats was more gradual and disassociated from the pharmacokinetics, but















the therapeutic effect is comparable to the effect on hyperalgesia endpoints and is sustained for some time after the cessation















of treatment. There was no tachyphylaxis observed on efficacy parameters after repeated dose administration in the partial sciatic















nerve ligation (&ldquo;PSNL&rdquo;) and streptozotocin-induced diabetic neuropathy models.</p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>















































































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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; background-color: white; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; background-color: white; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The Phase















2a results will have significance beyond EM and provide important insights about NaV1.7 as a potential target to find novel pain















medications as an alternative to opioids, the continuing primary standard of care in analgesics. Despite the societal cost of















opioids, no fundamental commercially available breakthroughs have been achieved in pain management over the past decades. We believe















that positive results from the Phase 2a study could not only act as support for CC8464&rsquo;s potential in EM but may also provide















guidance of its potential for other indications of peripheral neuropathic pain. The key elements of our strategy to achieve our















mission are:</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;&nbsp;</p>































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr style="vertical-align: top">















    <td style="width: 24px">&nbsp;</td>















    <td style="width: 24px; font-size: 10pt"><FONT STYLE="font-size: 10pt">&#9679;</FONT></td>















    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Advance the development of our lead

    candidate, CC8464, towards FDA approval for treating EM. </I></B>Based on its pre-clinical profile, the target validation

    and trends seen with other NaV1.7 blockers in clinical studies, if approved by the FDA, we believe that CC8464 has the potential

    to become a drug for treatment of EM patients, potentially delivering meaningful clinical benefits over the currently available

    standard of care.</FONT></td></tr>















</table>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;&nbsp;</P>



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<TR STYLE="vertical-align: top">

    <TD STYLE="width: 24px; font-size: 10pt">&nbsp;</TD>

    <TD STYLE="width: 24px; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>

    <TD STYLE="text-align: justify; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Conduct
    in vivo and toxicology studies of CC8464 for the treatment of eye pain.</I></B> According to a presentation at the Association
    for Research in Vision and Ophthalmology, with the abstract published in the publication, Investigative Ophthalmology and
    Visual Science in June 2020, there is evidence that the NaV1.7 receptor is present on the cornea and may be a viable biological
    target for treating eye pain. As such, we intend to conduct in vivo and toxicology studies on the treatment of
    eye pain with CC8464 as a topical agent. We have commenced development of a topical ophthalmic formulation of CC8464
    that would initially be utilized for toxicology and in vivo studies and then followed by a proof-of-concept trial in patients
    suffering from various conditions including severe dry eye disease, trauma and surgery. We expect the trials for
    this ophthalmic formulation of CC8464 to start in the second quarter of 2024.</FONT> </TD></TR>

</TABLE>





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<tr style="vertical-align: top">















    <TD STYLE="width: 24px; text-align: justify">&nbsp;</td>















    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"><font style="font-size: 10pt">&#9679;</font></td>















    <TD STYLE="font-size: 10pt; text-align: justify"><font style="font-size: 10pt"><b><i>Leverage our differentiated research















    and discovery approach to expand our pipeline.</i></b> We plan to build a pipeline of potential pain blockers acting against















    sodium-channels related to NaV1.7. Pain modulation is complex, and a multitude of physiological mechanisms are involved in















    transmitting pain signals. Other than NaV1.7, we believe that several related sodium channels, e.g., NaV1.8 or NaV1.6, may















    be involved in pain sensation. While NaV1.7 is the most validated pain receptor, we believe that blockers against other sodium















    channels may complement CC8464 as our primary pain blocking candidate.</font></td></tr>















</table>































<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</p>















<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr style="vertical-align: top">















    <TD STYLE="width: 24px; text-align: justify">&nbsp;</td>















    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></td>















    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Build a leading, fully integrated

    pharmaceutical company to maximize the clinical impact and value of our pipeline and deliver value to stockholders. </I></B>We

    plan to build an experienced team to rapidly advance compounds in a capital-efficient manner. We intend to retain the commercialization

    rights to lead compounds; however, we may opportunistically enter into strategic collaborations in certain geographic or clinical

    settings to maximize the value of our pipeline.</FONT></td></tr>















</table>















<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We















believe our strategy will allow us to minimize risk and expenses by maintaining an initial focus on CC8464 and EM. </font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Lead compound: CC8464 for















the Treatment of EM</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">CC8464 is our lead compound for the















treatment of EM.</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font>&nbsp;</p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Background















on EM</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EM















is a condition characterized by episodes of pain, redness, and swelling in various parts of the body, particularly the hands and















feet. These episodes are usually triggered by increased body temperature, which may be caused by exercise or entering a warm room.















Ingesting alcohol or spicy foods may also trigger an episode. Wearing warm socks, tight shoes, or gloves can cause a pain episode















so debilitating that it can impede everyday activities such as wearing shoes and walking. Pain episodes can prevent an affected















person from going to school or work regularly. Strong cases are debilitating for patients and suicidal tendencies in these patients















emphasize the urgent medical need in this field.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















signs and symptoms of EM typically begin in childhood, although mildly affected individuals may have their first pain episode















later in life. As individuals with EM get older and the disease progresses, the hands and feet may be constantly red, and the















affected areas can extend from the hands to the arms, shoulders and face, and from the feet to the entire legs.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EM















is often considered a form of peripheral neuropathy because it affects the peripheral nervous system, which connects the brain















and spinal cord to muscles and to cells that detect sensations such as touch, smell and pain.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: italic bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Prevalence</b></font></p>































<p style="font: italic bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">According















to Transparency Market Research:</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>















































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EM















                                         is a rare condition that primarily affects feet and hands. It is characterized by intense,















                                         burning pain of affected extremities, severe redness (erythema), and increased skin temperature















                                         that may be episodic or almost continuous in nature.</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















                                         specific cause of EM remains unknown. EM is caused by a mutation of the NaV1.7 gene and















                                         may also result of vasomotor abnormalities or dysfunction in the normal narrowing and















                                         widening of the diameter of certain blood vessels, leading to abnormalities of blood















                                         flow to the extremities.</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; font: 10pt Times New Roman, Times, Serif">















<TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif; text-align: justify"></td><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></td><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Females

                                         are more affected than males. Disorder onset occurs most commonly in middle age; however,

                                         associated symptoms may develop at any age. Terminology is not uniform in EM, but certain

                                         terms have gained a certain level of general acceptance. With this caveat, EM is of two

                                         types: primary EM and secondary EM. Primary EM is caused by a genetic mutation, while

                                         secondary EM is likely caused by another disease, such as diabetes&nbsp;or myelodysplasia.

                                         Also relevant is the difference between EM cases where a known genetic variation has

                                         at least partially caused the illness and cases where it is unknown what underlying genetic

                                         variation, if any, caused EM.</FONT></p>















































</td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: italic bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Existing















Treatment Options</font></p>































<P STYLE="font: italic bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-align: justify; text-indent: 0">The current standard-of-care for patients with















EM is limited to symptom management. However, according to a case report published in the Journal of Pain Medicine, more than 50% of















EM patients report that over-the-counter medications did not effectively address the symptoms. In severe cases, opioids may be the only















available treatment option and are accompanied by well-known risks and liabilities. Further, there is a lack of guidelines available















on how it should be optimally managed. Current EM treatments are regarded as ineffective, risky, or both.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CC8464&rsquo;s















Unknown Mechanism of Action</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















mechanism of action for EM is unknown. According to the National Institutes of Health, mutations of NaV1.7 are a leading cause















for EM but it remains unclear why this defect leads to the observed phenotype. It is also unclear whether other sodium-channels















or causes other than genetic mutations influence the development of EM.</font></p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
initial focus for CC8464 is evaluating its potential therapeutic benefit to treat EM patients. While we do not know the mechanism
of action, we believe the empirical correlation between the SCN9A genetic mutation and disease is a hypothesis to develop CC8464
as a potential drug to mitigate EM for patients with a genetic disposition, however, we will also evaluate CC8464 for secondary
EM patients as part of our study.</FONT> </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;&nbsp;<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CC8464















Current Study Results</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify">&nbsp;</p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">CC8464 has undergone a Phase 1 study. The study was not















powered for statistical significance and no p-values are available. The result showed that CC8464 has a good overall tolerability















but may cause rashes in certain patients. The occurrence of rashes is not uncommon in the class of molecules to which CC8464 belongs.















A dose-escalation-regime is a standard method used in pharmaceutical drug development to mitigate rashes as a side effect. We















believe that a dose-escalation-regime could reduce the occurrence of rashes to a tolerable level for CC8464. We plan to conduct















a dose-escalation-study to potentially validate the concept and establish a prescription regime for patients that minimizes the















risk of rashes. Even though the FDA has in the past approved drugs that listed rashes as a potential side effect, we do not know















if CC8464 will be approved by the FDA (or any foreign authority) in view of its potential to cause rashes.</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Currently a total of 207 healthy subjects















have been dosed in four Phase 1 studies (CC8464-1001, CC8464-1002, CC8464-1003, and 1807-CL-0102) with study treatment. The studies















were sponsored by Chromocell Holdings. A Phase 1 study investigating safety, tolerability and pharmacokinetics of single and multiple















ascending doses of CC8464 in healthy volunteers has been conducted and the data base has been locked (Study Protocol CC8464-1001).















CC8464-1002 and CC8464-1003 were relative bioavailability studies in healthy volunteers to support new formulations. CC8464 was,















in general, well tolerated in these Phase 1 studies (CC8464-1001, CC8464-1002, CC8464-1003) when administered to healthy volunteers















as a single dose up to 1800 mg or over 14 days of once a day dosing up to 1200 mg. Skin rash, the only clinically relevant safety















finding, was seen in a total of six (6) out of the 159 subjects dosed with CC8464 in these Phase 1 studies (CC8464-1001, CC8464-1002,















CC8464-1003).&nbsp;</p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>































































































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->















































<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: 0pt 0; text-align: justify">Following clinical completion of the















studies CC8464-1001, CC8464-1002, and CC8464-1003, the drug-drug interaction (DDI) study 1807-CL-0102 was initiated to examine















the effect of CC8464 on the PK and Pharmacodynamics (PD) of warfarin, a CYP2C9 substrate. This was the first study with a BID















dosing regimen (CC8464 400 mg BID daily for two weeks) which had greater accumulation than expected. Thirteen out of eighteen















(13/18) subjects dosed with CC8464 reported rash in this open label drug-drug interaction study. Clinical presentation and resolution















of the rashes reported in study 1807-CL-0102 were consistent with the rash cases from CC8464-1001 except for a single case of















a severe skin reaction requiring IV corticosteroid therapy (SAE). All reported skin rashes in study 1807-CL-0102 resolved within















days of treatment discontinuation without sequalae.</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">&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: 0pt 0; text-align: justify"><b>Overview of Studies &ndash; CC8464</b></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&nbsp;</b></p>































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">















<tr style="vertical-align: top">















    <td style="width: 10%; border: Black 1pt solid; padding-right: 5pt; padding-left: 5pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Study <br>















ID/</b></p>















        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Location</b></p></td>















    <td style="width: 20%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt"><b>Study















    Title</b></font></td>















    <td style="width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt"><b>Study















    <br>















Design</b></font></td>















    <td style="width: 17%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt"><b>Dosing















    Regimen</b></font></td>















    <td style="width: 12%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt"><b>Study















    <br>















Population</b></font></td>















    <td style="width: 8%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt"><b>FPFV</b><sup>*</sup></font></td>















    <td style="width: 12%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt"><b>Planned















    <br>















Enrollment</b></font></td>















    <td style="width: 10%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt"><b>Subject















    <br>















exposure</b></font></td></tr>















<tr style="vertical-align: top">















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5pt; padding-left: 5pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CC8464-1001</p>















        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(USA)</p></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">A















    Randomized, Double Blind, Placebo Controlled, Single Ascending Dose and Multiple Ascending Dose Study to Evaluate the Safety,















    Tolerability, and Pharmacokinetics of Oral Doses of CC8464 in Normal Healthy Subjects with Food Effect Assessment</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">SAD/MAD</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5pt; padding-left: 5pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">SAD: 30, 120, 300, 600, 1200, 1800, or 2400 mg QD















        on Day 1.</p>















        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">MAD: 120, 300, 600, 1200, 1800 or 2400 mg QD on















        Days 1-14.</p></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">Healthy















    Volunteers</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">September















    13,     2016</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">206</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5pt; padding-left: 5pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">125</p></td></tr>































<tr style="vertical-align: top">















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5pt; padding-left: 5pt; width: 10%"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CC8464-1002</p>















        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(USA)</p></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt; width: 20%"><font style="font-size: 10pt">A















    Phase 1 Crossover Study to Assess the Relative Bioavailability of CC8464 following a Single Dose of Melt Granulation Capsule















    Compared to a Single Dose of Encapsulated Suspension in Normal Healthy Subjects with a Food Effect Assessment</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt; width: 11%"><font style="font-size: 10pt">Cross-over















    </font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt; width: 17%"><font style="font-size: 10pt">200















    mg Melt Granulation Capsule (fed and fasted) vs 200 mg Suspension Capsule (fasted)</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt; width: 12%"><font style="font-size: 10pt">Healthy















    Volunteers</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt; width: 8%"><font style="font-size: 10pt">July















    31, 2017</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt; width: 12%"><font style="font-size: 10pt">24</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt; width: 10%"><font style="font-size: 10pt">24</font></td></tr>















<tr style="vertical-align: top">















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5pt; padding-left: 5pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CC8464-1003</p>















        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(USA)</p></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">A















    Single-Dose, Open-Label, Five-Period, Randomized, Crossover Study to Compare the Relative Bioavailability and Dose Proportionality















    Between Two Formulations and 3 Dosage Strengths of CC8464 in Healthy Volunteers</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">Cross-over</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">50















    mg, 100 mg and 400 mg of CC8464 Melt Granulation Tablet (Fed and Fasted) vs 2x200 mg of Melt Granulation Capsules </font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">Healthy















    Volunteers</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">February 5, 2018</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">40</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">40</font></td></tr>















<tr style="vertical-align: top">















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5pt; padding-left: 5pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1807-CL-0102</p>















        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(USA)</p></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">A















    Phase 1 Study to Evaluate the Effect of Multiple Doses of CC8464 (ASP1807) on the Pharmacokinetics and Pharmacodynamics of















    Warfarin in Healthy Subjects</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">Drug-Drug















    Interaction</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5pt; padding-left: 5pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Single doses of 5mg Warfarin tablets will be taken















        on days 1 and 15.</p>















        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">400mg of CC8464 BID will begin on Day 8 and continue















        until 6 days after the second dose of Warfarin is taken, for a total of 14 days</p></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">Healthy















    Volunteers</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">May















    16, 2018</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">18</font></td>















    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 5pt"><font style="font-size: 10pt">18</font></td></tr>















</table>















<p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0"></td><td style="width: 0.1in">*</td><td>FPFV = first patient first visit</td></tr></table>































































<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">&nbsp;</p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>CC8464 Phase 2a Trials</b></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.3pt 0pt 8.35pt; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Genetic studies have established a















correlation between a mutation in the SCN9A gene and the expression of the EM phenotype in EM patients. Our initial focus in the















development plan for CC8464 is assessing its therapeutic use for EM patients with such genetic disposition. We plan to conduct















two key studies as part of our Phase 2a clinical trials. First, we will conduct a dose escalation study (&ldquo;DES&rdquo;) with















healthy volunteers, where we determine the maximum tolerated dose (&ldquo;MTD&rdquo;) for CC8464 and the pace of increasing the















dosage towards MTD and minimal risk of rashes. Second, we will conduct a proof of concept (&ldquo;POC&rdquo;) study, where we















induce mild to moderate flares by exposing patients&rsquo; hands to cold water and record the self-assessment of patients regarding















perception of pain on the 1-10 pain scale. The POC will be conducted as a double-blinded, placebo-controlled study with 20 patients.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.3pt 0pt 8.35pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our















Addressable Market</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on a study published in the <i>International















Journal of Vascular Medicine</i>, our lead product for the treatment of EM, CC8464, may be relevant for approximately 50,000 patients















in the US today. Similarly, according to studies quoted by the Erythromelalgia Association, estimates of the incidence rate for















EM vary from 1.3 to 15 per 100,000 persons, reflecting a potential EM patient population up to 50,000 in the U.S.</p>































































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">According















to Transparency Market Research, Key Drivers of Global Erythromelalgia Treatment Market include:</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increase















                                         in number of patients with EM, strong product pipeline, and increasing research and development















                                         activity for developing new innovative drugs for treatment of EM are likely to drive















                                         the EM market during the forecasted period. In addition, high demand for disease specific















                                         novel treatment to the patients as quickly as possible is enhancing the growth of the















                                         market.</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0">&nbsp;<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">According















                                         to the National Organization for Rare Disorders, the prevalence rate of EM is approximately















                                         1.3 people in every 100,000 people in the U.S.</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On















                                         the other hand, limited treatment options and low healthcare budget in some developing















                                         countries are likely to restrain the growth of the market.</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>



<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">While we have not conducted an analysis

nor can we point to studies which indicate the incidence of EM in other countries, we have issued patents (as set forth in greater

detail below) in countries representing an additional population of approximately 4.2 billion people.&nbsp;</P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>







<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our















Lead Drug Candidate and Pipeline</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We intend to focus our efforts on the















development of CC8464, our lead compound, towards approval in the United States and other jurisdictions. While CC8464 is the focus















of our efforts, we may also allocate future resources towards the discovery and development of other compounds that could potentially















modulate NaV1.7 or related sodium-channels. We believe that these molecules could represent alternatives in case we encounter















challenges in the further development of CC8464 or, in particular, if blocking channels other than NaV1.7 (e.g., NaV1.8) become















a complementary therapeutic to CC8464. Pain perception is complex and, given its essential function for human physiology, modulated















through a variety of receptors. Hence, we believe that different NaV blockers may provide an additive or even synergistic effect















on patients with neuropathic pain.</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CC8464&rsquo;s















FDA Orphan Drug Designation</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are considering submitting a request

to the FDA for Orphan Drug Designation, which could lead to approval for such designation. Orphan Drug Designation provides for

a seven-year window of exclusivity and potential 25% tax credit on qualified clinical trials, as well as reduced FDA review periods

and regulatory fees. We may apply for similar orphan drug designations in additional jurisdictions, including Europe and Japan,

as well as additional regulatory classifications, such as FDA Breakthrough Therapy Designation, that confer an advantage during

development. As of the date of this prospectus, we have not submitted an application for orphan drug designation for CC8464.</p>































































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify"></p>































































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CC8464















Manufacturing</b></font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-indent: 0; text-align: justify">We plan to manufacture the clinical and eventual commercial















supply through CROs in the U.S. and potentially other jurisdictions. We have rights to two proprietary methods to produce CC8464.















We have not yet decided which production process we will use for subsequent clinical trials and eventual commercial supply, but















both appear suitable for further use and optimization.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0; text-align: justify">&nbsp;&nbsp;<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: 0pt 0; text-indent: 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Both manufacturing&nbsp;processes employ common methods















of&nbsp;organic synthesis used in the production drug&nbsp;substance. We do not intend to file patents for these processes but















will keep the detailed protocols (e.g. the selected crystallization solvent or the particular salt) as trade secrets.</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We do not produce drug substance in house. External CROs















have produced enough drug substance (based on both processes) to conduct the planned Phase 2a trials.</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Intellectual















Property</b></font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Protection















of our intellectual property is an important part of our business. We seek patent protection in the United States and in other















countries for our inventions and discoveries, and we develop and protect our key know-how and trade secrets relating to our platform















technology and the products we are developing using our platform.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We have adopted a strategy of seeking
patent protection in the United States and in other jurisdictions globally that we deem appropriate with respect to certain of
our technologies relating to our products and process. As of January 16, 2024, we have received an issued patent from the USPTO
directed to the composition of matter and use of CC8464. We have also obtained patents in the E.U. (Germany, France) Japan, China
and other relevant markets (Mexico, Canada, Thailand, Indonesia, Philippines). Our patent for CC8464 will expire in 2035. The
Company owns the patent and has not licensed any portion to third parties. In addition, we have a pending patent application in
India. While the eventual issuance of a patent in India cannot be guaranteed, we believe that we have a good chance to obtain
comprehensive composition of matter protection for CC8464 during 2024. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT> </p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In















addition to patents and licenses, we rely on trade secrets and know-how to develop and maintain technologies and methods that















provide us a meaningful competitive advantage. However, trade secrets can be difficult to defend and maintain. We seek to protect















our proprietary technology and processes, and maintain ownership of certain technologies, in part, through confidentiality agreements















and invention assignment agreements with our employees, consultants and commercial partners.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our















Competition</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The biotechnology and















pharmaceutical industries are highly competitive. Several pharmaceutical companies that are developing either topical















applications for EM or other molecules that modulate NaV1.7 and therefore have the potential to mitigate EM. These companies















and new entrants may potentially compete with our products in the future with novel delivery technologies. To the best of our















knowledge, CC8464 is currently the most advanced NaV1.7 blocker in clinical development because other programs that modulate















NaV1.7 are in pre-clinical development, which makes CC8464 more advanced in comparison as CC8464 has entered clinical trials















and completed a Phase 1 study. However, we may be unaware of unpublished development efforts in the NaV1.7 space. The market















exclusivity associated with a potential future Orphan Drug Designation plus the CC8464 market exclusivity associated with our















issued patent are key elements of our commercialization strategy; however, we have not currently applied and may not receive















orphan drug designation for CC8464. Competition in this space will remain strong and we do not know if we will be successful















to obtain orphan designation from the FDA, encounter challenges to our issued patents and continue to advance CC8464















throughout clinical development towards approval.</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-align: justify"><font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">In















connection with this offering, we have entered into a side letter with Chromocell Holdings, pursuant to which Chromocell Holdings















agreed not to (i) directly or indirectly engage in the business of owning, licensing, developing, marketing, manufacturing, producing,















selling or distributing products, technologies, therapies, or services in any way related to our business, including all patents,















pre-clinical and Phase I study results and data, and trade secrets related to the CC8464 compound, transferred by Chromocell Holdings















to us further to the Contribution Agreement, (ii) directly or indirectly, hire, engage or employ (as an employee, consultant or















otherwise) any of our employees; provided that Chromocell Holdings shall not, directly or indirectly, prevent any of our employees















from serving on the board of directors of Chromocell Holdings, and (iii) through any director or officer of Chromocell Holdings,















directly or indirectly, solicit for employment or the engagement of services of any of our employees or induce or attempt to induce















any of our employees to leave his or her employment with us, or in any way intentionally interfere with the employment relationship















between any of our employees and us, for the purpose of employing or engaging the services of such employee or soliciting such















employee to become an employee or consultant of Chromocell Holdings or any other person.</font></font></p>















<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our















Facilities</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our office is located at 4400 Route















9 South, Suite 1000, Freehold, NJ 07728. We are considering lab options commensurate with the start of the Phase II trials and















dose escalation study.&nbsp;</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></font></p>































































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employees















and Human Capital Resources</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-align: justify"> As of January 1, 2024, we had three
full-time employees and four consultants on a part-time basis. None of our employees is subject to a collective bargaining
agreement or represented by a trade or labor union. We consider our relationship with our employees to be good. </P>




























<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our















human capital resources objectives include, as applicable, identifying, recruiting, retaining, incentivizing and integrating our















existing and additional employees. The principal purposes of our equity incentive plans are to attract, retain and motivate selected















employees, consultants and directors through the granting of stock-based compensation awards and cash-based performance bonus















awards.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, we have a three person

Scientific Advisory Board (&ldquo;SAB&rdquo;) led by Dr. Stephen Waxman, who is the Bridget M. Flaherty Professor of Neurology

and of Neuroscience and the Director of the Center For Neuroscience and Regeneration Medicine at Yale University School of Medicine.</P>







<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Legal















Proceedings</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From















time to time, we may be involved in legal proceedings arising in the ordinary course of our business. We are not presently a party















to any legal proceedings that, in the opinion of management, would have a material adverse effect on our business. Regardless















of outcome, litigation can have an adverse impact on us due to defense and settlement costs, diversion of management resources,















negative publicity and reputation harm, and other factors.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Government















Regulation</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The FDA and other regulatory















authorities at federal, state and local levels, as well as outside the United States, extensively regulate, among other things,















the research, development, testing, manufacture, quality control, import, export, safety, effectiveness, labeling, packaging,















storage, distribution, recordkeeping, approval, advertising, promotion, marketing, post-approval monitoring and post-approval















reporting of drugs and biologics. We, along with our vendors, CROs, clinical investigators, clinical trial sites and CMOs, will















be required to navigate the various preclinical, clinical, manufacturing and commercial approval requirements of the governing















regulatory agencies of the countries in which we wish to conduct studies or seek marketing approval of compounds. The process















of obtaining regulatory approvals of drugs and biologics and ensuring subsequent compliance with appropriate federal, state, local















and foreign statutes and regulations requires the expenditure of substantial time and financial resources.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the United States















where we are initially focusing our drug commercialization, we believe compounds, as small molecule drugs, would be regulated















as new drugs rather than biologics. The FDA regulates new drug products under the Federal Food, Drug, and Cosmetic Act, as amended















(the &ldquo;FDCA&rdquo;) and its implementing regulations. New drug products are also subject to other federal, state and local















statutes and regulations. If we fail to comply with applicable FDA or other requirements at any time with respect to product development,















clinical testing, approval or any other regulatory requirements relating to product manufacture, processing, handling, storage,















quality control, safety, marketing, advertising, promotion, packaging, labeling, export, import, distribution, or sale, we may















become subject to administrative or judicial sanctions or other legal consequences. These sanctions or consequences could include,















among other things, the FDA&rsquo;s refusal to approve pending applications, issuance of clinical holds for proposed or ongoing















studies, suspension or revocation of approvals, warning or untitled letters, product withdrawals or recalls, product seizures,















relabeling or repackaging, total or partial suspensions of manufacturing or distribution, injunctions, fines, civil penalties















or criminal prosecution.</p>































































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Compounds must be approved for therapeutic















indications by the FDA before they may be marketed in the United States. For new drug products regulated under the FDCA such as















our lead compound, a sponsor must submit an NDA to the FDA for review and approval. The NDA review and approval process may take















multiple years and involves the following steps:</p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0"></p>































































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">completion















                                         of extensive preclinical studies in accordance with applicable regulations, including















                                         studies conducted in accordance with GLP requirements;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">completion















                                         of the manufacture, under cGMP conditions of the drug substance, drug product, and labeling















                                         and packaging that the sponsor intends to use in human clinical trials along with required















                                         analytical and stability testing;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">submission















                                         to the FDA of an IND, which must become effective before clinical trials may begin and















                                         must be updated annually and amended when certain changes are made;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">approval















                                         by an institutional review board (&ldquo;IRB&rdquo;) or independent ethics committee















                                         (&ldquo;IEC&rdquo;) at each clinical trial site before each trial may be initiated;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">performance















                                         of adequate and well-controlled clinical trials in accordance with applicable IND regulations,















                                         GCP requirements, including informed consent, financial disclosure by investigators and















                                         other clinical trial-related regulations, to establish maximum tolerable dose and efficacy















                                         of the investigational product for each proposed indication and other condition of use;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">preparation















                                         and submission to the FDA of an NDA;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a















                                         determination by the FDA within 60 days of its receipt of an NDA to file the application















                                         for review;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">satisfactory















                                         completion of one or more FDA pre-approval inspections of the manufacturing facility















                                         or facilities where the drug will be produced to assess compliance with cGMP requirements















                                         to assure that the facilities, methods and controls are adequate to preserve the drug















                                         product&rsquo;s identity, strength, quality and purity;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">satisfactory















                                         completion of FDA inspection of select clinical trial sites involved in conducting pivotal















                                         studies that generated the data in support of the NDA;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">payment















                                         of user fees for FDA review of the NDA; and</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FDA















                                         review and approval of the NDA, including of the proposed prescribing information and,















                                         where applicable, consideration of the views of any FDA advisory committee, prior to















                                         any commercial marketing or sale of the drug in the United States.</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Preclinical















Studies and Clinical Trials for Drugs</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Before testing any drug in humans,















compound must undergo rigorous preclinical testing. Preclinical studies include laboratory evaluations of product chemistry, formulation















and stability, as well as in vitro and animal studies to assess maximum tolerable dose and in some cases to establish the rationale















for therapeutic use. The conduct of preclinical studies is subject to federal and state regulation and requirements, including















GLP requirements under 21 C.F.R. Part 58 and animal testing requirements under the Animal Welfare Act Amendments of 1976 (7 U.S.C.















2131 et seq.). The results of the preclinical studies, together with manufacturing information and analytical data, must be submitted















to the FDA as part of an IND.</p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0">&nbsp;</p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An















IND is a submission to the FDA under which a sponsor proposes to administer an investigational product to humans. An IND must















become effective before the proposed clinical trials may begin. The central focus of an IND submission is on the general investigational















plan and the protocol(s) for clinical studies. The IND also includes the results of animal and&nbsp;in vitro&nbsp;studies assessing















the toxicology, pharmacokinetics, pharmacology, and pharmacodynamic characteristics of the product; chemistry, manufacturing,















and controls information; and any available human data or literature to support the use of the investigational product. Some long-term















preclinical testing may continue after the IND is submitted. The IND automatically becomes effective 30&nbsp;days after receipt















by the FDA, unless the FDA, within the&nbsp;30-day&nbsp;time period, raises concerns or questions about the conduct of the proposed















clinical trial, including concerns that human research subjects will be exposed to unreasonable health risks, refuses to allow















the IND to take effect until the FDA&rsquo;s concerns and questions have been addressed and/or imposes a full or partial clinical















hold. The FDA must notify the sponsor of the grounds for the hold, and any identified deficiencies must be resolved before the















clinical trial can begin. Submission of an IND may result in the FDA not allowing clinical trials to commence or not allowing















clinical trials to commence on the terms originally specified in the IND. A clinical hold can also be imposed once a trial has















already begun, thereby halting the trial until the deficiencies articulated by FDA are corrected.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The clinical stage of development involves















the administration of the compounds to healthy volunteers or patients under the supervision of qualified investigators, who generally















are physicians not employed by or under the trial sponsor&rsquo;s control, in accordance with GCP requirements, which include















the requirements that all research subjects provide their informed consent for their participation in any clinical trial. Clinical















trials are conducted under protocols detailing, among other things, the objectives of the clinical trial, dosing procedures, subject















selection and exclusion criteria, and the parameters and criteria to be used in monitoring safety and evaluating effectiveness.















Each protocol, and any subsequent amendments to the protocol, must be submitted to the FDA as part of the IND.</p>































































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furthermore,















each clinical trial must be reviewed and approved by an IRB or IEC for each institution at which the clinical trial will be conducted















to ensure that the risks to individuals participating in the clinical trials are minimized and are reasonable compared to the















anticipated benefits. The IRB or IEC also approves the informed consent form that must be provided to each clinical trial subject















or his or her legal representative and must monitor the clinical trial until completed. The FDA, the IRB or IEC, or the sponsor















may suspend or discontinue a clinical trial at any time on various grounds, including a finding that the subjects are being exposed















to an unacceptable health risk. There also are requirements governing the reporting of ongoing clinical trials and completed clinical















trials to public registries. Information about clinical trials, including results for clinical trials other than phase 1 investigations,















must be submitted within specific timeframes for publication on www.ClinicalTrials.gov, a clinical trials database maintained















by the National Institutes of Health.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A















sponsor who wishes to conduct a clinical trial outside of the United States are subject to the requirements of the applicable















jurisdiction and may, but need not, obtain FDA authorization to conduct the clinical trial under an IND. If a foreign clinical















trial is not conducted under an IND, the FDA will nevertheless accept the results of the study in support of an NDA if the study















was conducted in accordance with GCP requirements, and the FDA is able to validate the data through an onsite inspection if deemed















necessary.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Clinical















trials to evaluate therapeutic indications to support NDAs for marketing approval are typically conducted in three sequential















phases, which may overlap.</font></P>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>































<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>















    <TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Phase 1 &mdash; Phase 1 clinical trials involve















    initial introduction of the investigational product in a limited population of healthy human volunteers or patients with the















    target disease or condition. These studies are typically designed to test the safety, dosage tolerance, absorption, metabolism















    and distribution of the investigational product in humans, evaluate the side effects associated with increasing doses, and,















    if possible, to gain early evidence of effectiveness.</FONT></TD></TR>















</TABLE>















<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>































<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>















    <TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Phase 2 &mdash; Phase 2 clinical trials typically















    involve administration of the investigational product to a limited patient population with a specified disease or condition















    to evaluate the drug&rsquo;s potential efficacy, to determine the optimal dosages and dosing schedule, and to identify possible















    adverse side effects and safety risks.</FONT></TD></TR>















</TABLE>















































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Phase 3 &mdash; Phase 3 clinical trials typically















    involve administration of the investigational product to an expanded patient population to further evaluate dosage, to provide















    statistically significant evidence of clinical efficacy, and to further test for safety, generally at multiple geographically















    dispersed clinical trial sites. These clinical trials are intended, with the other available evidence, to establish the overall















    risk/benefit ratio of the investigational product and to provide an adequate basis for product approval and physician labeling.















    Generally, two adequate and well-controlled phase 3 trials are required by the FDA for approval of an NDA. Under certain circumstances,















    FDA can conclude that one adequate and well-controlled clinical investigation plus confirmatory evidence is sufficient to















    establish effectiveness.</FONT></TD></TR>















</TABLE>















<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Post-approval















trials, sometimes referred to as phase&nbsp;4 clinical trials or post-marketing studies, may be conducted after initial marketing















approval. These trials are used to gain additional evidence from the treatment of study subjects in the intended therapeutic indication















and are commonly intended to generate additional safety data regarding use of the product in a clinical setting, or in some cases















to confirm clinical benefit. In certain instances, the FDA may mandate the performance of phase&nbsp;4 clinical trials as a condition















of NDA approval.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Progress















reports detailing the results of the clinical trials, among other information, must be submitted at least annually to the FDA.















Written IND safety reports must be submitted to the FDA and the investigators fifteen days after the trial sponsor determines















the information qualifies for reporting for serious and unexpected suspected adverse events, findings from other studies or animal















or&nbsp;in vitro&nbsp;testing that suggest a significant risk for human volunteers, and any clinically important increase in the















rate of a serious suspected adverse reaction over that listed in the protocol or investigator brochure. The sponsor must also















notify the FDA of any unexpected fatal or life-threatening suspected adverse reaction as soon as possible but in no case later















than seven calendar days after the sponsor&rsquo;s initial receipt of the information.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Concurrent with clinical trials, companies















usually complete additional animal studies and must also develop additional information about the chemistry and physical characteristics















of the compound and finalize a process for manufacturing the drug product in commercial quantities in accordance with cGMP requirements.















The manufacturing process must be capable of consistently producing quality batches of the compound and manufacturers must develop,















among other things, methods for testing the identity, strength, quality and purity of the final drug product. Additionally, appropriate















packaging must be selected and tested, and stability studies must be conducted to demonstrate that the compound does not undergo















unacceptable deterioration over its shelf life.</p>































































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></font>&nbsp;</p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Expanded















Access</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expanded















access, sometimes called &ldquo;compassionate use,&rdquo; is the use of investigational products outside of controlled clinical















trials to treat patients with serious or immediately life-threatening diseases or conditions when there are no comparable or satisfactory















alternative treatment options. FDA regulations allow access to investigational products under an IND by the sponsor or the treating















physician for treatment purposes on a&nbsp;case-by-case&nbsp;basis for the following groups: individual patients (single-patient















IND applications for treatment in emergency settings and&nbsp;non-emergency&nbsp;settings);&nbsp;intermediate-size&nbsp;patient















populations; and larger populations for use of the investigational product under a treatment protocol or treatment IND.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A















clinical trial sponsor is not obligated under the law to provide expanded access to its investigational product. However, if a















sponsor decides to make its investigational product available for expanded access, FDA reviews each request for expanded access















and determines if treatment may proceed. Expanded access may be appropriate when all of the following criteria apply: the patient















has a serious or immediately life-threatening disease or condition, and there is no comparable or satisfactory alternative therapy















to diagnose, monitor, or treat the disease or condition; the potential patient benefit justifies the potential risks of the treatment















and the potential risks are not unreasonable in the context of the disease or condition to be treated; and providing the investigational















product for the requested use will not interfere with the initiation, conduct, or completion of clinical investigations that could















support marketing approval of the expanded access use or otherwise compromise the potential development of the expanded access















use.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In















addition, on May&nbsp;30, 2018, the Right to Try Act was signed into law. The law, among other things, provides an additional















mechanism for patients with a life-threatening condition who have exhausted approved treatments and are unable to participate















in clinical trials to access certain investigational products that have completed a phase 1 clinical trial, are the subject of















an active IND, and are undergoing investigation in a clinical trial that is intended to form the primary basis of a claim of effectiveness















in support of FDA approval. Unlike the expanded access framework described above, the Right to Try Act does not require FDA to















review or approve requests for use of the investigational product, although the law requires sponsors to report annually to the















FDA on use of the pathway and require the FDA to post certain annual summaries. There is no obligation for a sponsor to make its















investigational products available to eligible patients under the Right to Try Act.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under















the 21st Century Cures Act, the manufacturer or distributor of one or more investigational products for the diagnosis, monitoring















and treatment of a serious disease or condition must make publicly available their policy for evaluating and responding to requests















for expanded access for individual patients. The manufacturer or distributor is required to make such policies publicly available















upon the earlier of initiation of a phase 2 or phase 3 study, or as applicable, 15 days after the investigational drug receives















designation as a breakthrough therapy, fast track product, or regenerative medicine advanced therapy. The posting of the expanded















access policies by manufacturers and distributors does not serve as a guarantee of access to any specific investigational drug















by any individual patient, but the sponsor must develop a policy and respond to patient requests according to that policy.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>U.S.















Marketing Approval for Drugs</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assuming















successful completion of the required clinical testing, the results of the preclinical studies and clinical trials, together with















detailed information relating to the product&rsquo;s chemistry, manufacture, controls and proposed labeling, among other things,















are submitted to the FDA as part of an NDA package requesting approval to market the drug product for one or more indications.















An NDA is an application to FDA for approval to market a new drug for one or more specified indications and must contain proof















of the drug&rsquo;s maximum tolerable dose and efficacy for the requested indication(s). An NDA is required to include both negative















and ambiguous results of preclinical studies and clinical trials, as well as positive findings, together with detailed information















relating to the product&rsquo;s chemistry, manufacturing, controls, and proposed labeling, among other things. Data may come from















company-sponsored clinical trials intended to test the maximum tolerable dose and efficacy of a product&rsquo;s use or from a















number of alternative sources, including studies initiated by investigators. To support marketing approval, the data submitted















must be sufficient in quality and quantity to establish the maximum tolerable dose and efficacy of the investigational drug, to















the satisfaction of the FDA. The FDA must approve an NDA before a drug may be marketed in the United States.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















FDA reviews all submitted NDAs to ensure they are sufficiently complete to permit substantive review before it accepts them for















filing and may request additional information rather than accepting the NDA for filing. The FDA must make a decision on accepting















an NDA for filing within 60 days of receipt, and such decision could include a&nbsp;&ldquo;refuse-to-file&rdquo;&nbsp;decision















by the FDA. Once the submission is accepted for filing, the FDA begins an&nbsp;in-depth&nbsp;substantive review of the NDA. The















FDA reviews an NDA to determine, among other things, whether the product is safe and effective for the indications sought and















whether the facility in which it is manufactured, processed, packaged or held meets standards designed, including cGMP requirements,















designed to assure and preserve the product&rsquo;s continued identity, strength, quality and purity. Under the goals and polices















agreed to by the FDA under the Prescription Drug User Fee Act, as amended (the &ldquo;PDUFA&rdquo;), the FDA targets ten months,















from the filing date, in which to complete its initial review of a new molecular entity NDA and respond to the applicant, and















six months from the filing date of a new molecular entity NDA for priority review. The FDA does not always meet its PDUFA goal















dates for standard or priority NDAs, and the review process is often extended by FDA requests for additional information or clarification.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Further,















under PDUFA, each NDA must be accompanied by a substantial user fee. For fiscal year 2023, the application fee for each application















containing clinical data is $3,242,026. PDUFA also imposes an annual program fee for each approved prescription drug, which has















been set at $393,933 for fiscal year 2023. The FDA adjusts the PDUFA user fees on an annual basis. Fee waivers or















reductions are available in certain circumstances, including a waiver of the application fee for the first application filed by















a small business. Additionally, no user fees are assessed on applications for products designated as orphan drugs, unless the















product also includes a&nbsp;non-orphan&nbsp;indication.</FONT></P>















<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















FDA also may require submission of a Risk Evaluation and Mitigation Strategy (&ldquo;REMS&rdquo;) if it believes that a risk evaluation















and mitigation strategy is necessary to ensure that the benefits of the drug outweigh its risks. A REMS can include use of risk















evaluation and mitigation strategies like medication guides, physician communication plans, assessment plans, and/or elements















to assure safe use (&ldquo;ETASU&rdquo;) such as restricted distribution methods, patient registries, special monitoring or other















risk-minimization tools.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















FDA may refer an application for a novel drug to an advisory committee. An advisory committee is a panel of independent experts,















including clinicians and other scientific experts, which reviews, evaluates and provides advice and recommendations to FDA as















to whether the application should be approved and under what conditions. The FDA is not bound by the recommendations of an advisory















committee, but it considers such recommendations carefully when making decisions.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Before















approving an NDA, the FDA typically will inspect the facility or facilities where the product is manufactured. The FDA will not















approve an application unless it determines that the manufacturing processes and facilities are in compliance with cGMP requirements















and are adequate to assure consistent production of the product within required specifications. Additionally, before approving















an NDA, the FDA may inspect one or more select clinical trial sites involved in conducting pivotal studies to assure compliance















with GCP and other requirements and the integrity of the clinical data submitted to the FDA.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">After















evaluating the NDA and all related information, including the advisory committee recommendation, if any, and inspection reports















regarding the manufacturing facilities and clinical trial sites, the FDA may issue an approval letter, or, in some cases, a Complete















Response Letter. A Complete Response Letter indicates that the review cycle of the application is complete, and the application















is not ready for approval. A Complete Response Letter generally contains a statement of specific conditions that must be met in















order to secure final approval of the NDA, except that where the FDA determines that the data supporting the application are inadequate















to support approval, the FDA may issue the Complete Response Letter without first conducting required inspections, testing submitted















product lots, and/or reviewing proposed labeling. In issuing the Complete Response Letter, the FDA may require additional clinical















or preclinical testing or recommend other actions, such as requests for additional information or clarification, that the applicant















might take in order for the FDA to reconsider the application. Even with submission of this additional information, the FDA ultimately















may decide that the application does not satisfy the regulatory criteria for approval. If and when those conditions have been















met to the FDA&rsquo;s satisfaction, the FDA will typically issue an approval letter. An approval letter authorizes commercial















marketing of the product with specific prescribing information for specific indication(s).</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify">Even if the FDA approves















a product, depending on the specific risk(s) to be addressed it may limit the approved indications for use of the product, require















that contraindications, warnings or precautions be included in the product labeling, require that post-approval studies, including















phase 4 clinical trials, be conducted to further assess a product&rsquo;s maximum tolerable dose and efficacy after approval,















require testing and surveillance programs to monitor the product after commercialization, or impose other conditions, including















distribution and use restrictions or other risk management mechanisms under a REMS, which can materially affect the potential















market and profitability of the product. The FDA may prevent or limit further marketing of a product based on the results of post-marketing















studies or surveillance programs. After approval, some types of changes to the approved product, such as adding new indications,















manufacturing changes, and additional labeling claims, are subject to further testing requirements and FDA review and approval.</p>































































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Orphan















Drug Designation and Exclusivity</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under















the Orphan Drug Act, the FDA may grant orphan drug designation to a drug intended to treat a rare disease or condition, which















is a disease or condition with either a patient population of fewer than 200,000 individuals in the United States, or a patient















population greater than 200,000 individuals in the United States when there is no reasonable expectation that the cost of developing















and making the product available in the United States for the disease or condition will be recovered from sales of the product.















Orphan drug designation must be requested before submitting a marketing application. After the FDA grants orphan drug designation,















the generic identity of the therapeutic agent and its designated orphan use are disclosed by the FDA on its website. Orphan drug















designation does not convey any advantage in or shorten the duration of the regulatory review and approval process, though companies















developing orphan products are eligible for certain incentives, including tax credits for qualified clinical testing and waiver















of application fees.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If















a product that has orphan drug designation subsequently receives the first FDA approval for the use for which it has such designation,















the product is entitled to a seven-year period of marketing exclusivity from the date of FDA approval during which the FDA may















not approve any other applications to market the &ldquo;same drug&rdquo; for the same use, except in limited circumstances, such















as a subsequent product&rsquo;s showing of &ldquo;clinical superiority&rdquo; over the product with orphan exclusivity or where















the original applicant cannot produce sufficient quantities of product. The FDA defines &ldquo;same drug&rdquo; with respect to















small molecule drugs as a drug that contains the same active moiety as a previously approved drug and is intended for the same















use as the previously approved drug. To demonstrate a drug is &ldquo;clinically superior&rdquo; to the previously approved orphan















drug, a sponsor must show that the drug provides a significant therapeutic advantage over and above the previously already approved















drug in terms of greater efficacy, greater safety, or by providing a major contribution to patient care. Since the enactment of















the FDA Reauthorization Act of 2017, the FDA publishes clinical superiority findings on its website for those drugs approved on















or after August 18, 2017. Competitors, however, may receive approval of different therapeutic agents for the indication for which















the orphan product has exclusivity or obtain approval for the same therapeutic agent for a different indication than that for















which the orphan product has exclusivity. If an orphan designated product receives marketing approval for an indication broader















than what is designated, it may not be entitled to orphan exclusivity. Further, orphan drug exclusive marketing rights in the















United States may be lost if the FDA later determines that the request for designation was materially defective or the manufacturer















of the approved product is unable to assure sufficient quantities of the product to meet the needs of patients with the rare disease















or condition, or if the manufacturer chooses to provide consent to approval of other applications.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Expedited















Development and Review Programs for Drugs</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">The FDA maintains several















programs intended to facilitate and expedite development and review of new drugs to address unmet medical needs in the treatment















of serious or life-threatening diseases or conditions. These programs include Fast Track designation, Breakthrough Therapy designation,















Priority Review and Accelerated Approval, and the purpose of these programs is to either expedite the development or review of















important new drugs and biologics to get them to patients more quickly than standard FDA review timelines typically permit. We















intend to apply for these programs for compounds, as applicable.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">A new drug is eligible

for Fast Track designation if it is intended to treat a serious or life-threatening disease or condition and demonstrates the

potential to address unmet medical needs for such disease or condition. Fast Track designation applies to the compound and the

specific indication for which it is being studied. The sponsor of a new drug product may request the FDA to designate the drug

as a Fast Track product at any time during the clinical development of the product, but ideally no later than the pre-NDA meeting

because many of the features of Fast Track designation will not apply after that time. Fast Track designation provides increased

opportunities for sponsor interactions with the FDA during preclinical and clinical development, in addition to the potential

for rolling review once a marketing application is filed. Rolling review means that the FDA may review portions of the marketing

application before the sponsor submits the complete application. &nbsp;CC8464 for the treatment of EM has been granted Fast Track

status.</p>































































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In















addition, a new drug may be eligible for Breakthrough Therapy designation if it is intended to treat a serious or life-threatening















disease or condition and preliminary clinical evidence indicates that the drug, alone or in combination with one or more other















drugs, may demonstrate substantial improvement over existing therapies on one or more clinically significant endpoints, such as















substantial treatment effects observed early in clinical development. A sponsor may request that a drug product be designated















as a Breakthrough Therapy at any time during the clinical development of the product and ideally before initiation of the pivotal















clinical trial intended to serve as the primary basis for demonstration of efficacy to obtain the full benefits of the designation.















Breakthrough Therapy designation provides all the features of Fast Track designation, in addition to intensive guidance on an















efficient product development program beginning as early as phase&nbsp;1 and FDA organizational commitment to expedited development,















including involvement of senior managers and experienced review staff in a cross-disciplinary review, where appropriate.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any















product submitted to the FDA for approval, including a product with Fast Track or Breakthrough Therapy designation, may also be















eligible for additional FDA programs intended to expedite the review and approval process, including Priority Review and Accelerated















Approval. A product is eligible for Priority Review, once an NDA is submitted, if the product that is the subject of the marketing















application has the potential to provide a significant improvement in safety or effectiveness in the treatment, diagnosis or prevention















of a serious disease or condition. Significant improvement may be illustrated by the following examples: evidence of increased















effectiveness in treatment, prevention, or diagnosis of a condition, elimination or substantial reduction of a treatment-limiting















adverse reaction, documented enhancement of patient compliance that is expected to lead to an improvement in serious outcomes,















and evidence of safety and effectiveness in a new subpopulation. Under Priority Review, the FDA&rsquo;s goal date to take action















on the marketing application is six months compared to ten months for a standard review.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















FDA may grant Accelerated Approval to a product for a serious or life-threatening condition that provides meaningful therapeutic















advantage to patients over existing treatments based upon a determination that the product has an effect on a surrogate endpoint















that is reasonably likely to predict clinical benefit. The FDA may also grant Accelerated Approval for such a condition when the















product has an effect on an intermediate clinical endpoint that can be measured earlier than an effect on irreversible morbidity















or mortality (&ldquo;IMM&rdquo;) and that is reasonably likely to predict an effect on irreversible morbidity or mortality or















other clinical benefit, taking into account the severity, rarity or prevalence of the condition and the availability or lack of















alternative treatments. Products granted accelerated approval must meet the same statutory standards for safety and effectiveness















as those granted traditional approval.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For















the purposes of Accelerated Approval, a surrogate endpoint is a marker, such as a laboratory measurement, radiographic image,















physical sign or other measure that is thought to predict clinical benefit but is not itself a measure of clinical benefit. Surrogate















endpoints can often be measured more easily or more rapidly than clinical endpoints. An intermediate clinical endpoint is a measurement















of a therapeutic effect that is considered reasonably likely to predict the clinical benefit of a drug, such as an effect on IMM.















The FDA has limited experience with accelerated approvals based on intermediate clinical endpoints but has indicated that such















endpoints generally may support Accelerated Approval where the therapeutic effect measured by the endpoint is not itself a clinical















benefit and basis for traditional approval, if there is a basis for concluding that the therapeutic effect is reasonably likely















to predict the ultimate clinical benefit of a product.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Accelerated Approval pathway is most often used in settings in which the course of a disease is long, and an extended period of















time is required to measure the intended clinical benefit of a product, even if the effect on the surrogate or intermediate clinical















endpoint occurs rapidly. Thus, Accelerated Approval has been used extensively in the development and approval of products for















treatment of a variety of cancers in which the goal of therapy is generally to improve survival or decrease morbidity and the















duration of the typical disease course requires lengthy and sometimes large trials to demonstrate a clinical or survival benefit.















Thus, the benefit of Accelerated Approval derives from the potential to receive approval based on surrogate endpoints sooner than















possible for trials with clinical or survival endpoints, rather than deriving from any explicit shortening of the FDA approval















timeline, as is the case with priority review.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Accelerated Approval















pathway is usually contingent on a sponsor&rsquo;s agreement to conduct, in a diligent manner, additional post-approval confirmatory















studies to verify and describe the product&rsquo;s clinical benefit. As a result, a compound approved on this basis is subject















to rigorous post-marketing compliance requirements, including the completion of phase 4 or post-approval clinical trials to confirm















the effect on the clinical endpoint. Failure to conduct required post-approval studies, or confirm a clinical benefit during post-marketing















studies, would allow the FDA to initiate expedited proceedings to withdraw approval of the product. All promotional materials















for compounds approved under accelerated regulations are subject to prior review by the FDA. In addition, the FDA generally















requires, as a condition for Accelerated Approval, that all advertising and promotional materials intended for dissemination or















publication within 120 days of marketing approval be submitted to the agency for review during the pre-approval review period.















After the 120-day period has passed, all advertising and promotional materials must be submitted at least 30 days prior to the















intended time of initial dissemination or publication.</p>































































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Even















if a product qualifies for one or more of these programs, the FDA may later decide that the product no longer meets the conditions















for qualification or the time period for FDA review or approval may not be shortened. Furthermore, Fast Track designation, Breakthrough















Therapy designation, Priority Review and Accelerated Approval do not change the scientific or medical standards for approval or















the quality of evidence necessary to support approval, though they may expedite the development or review process.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Pediatric















Study Plan and Pediatric Exclusivity</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under















                                         the Pediatric Research Equity Act, as amended (the &ldquo;PREA&rdquo;), certain NDAs















                                         and certain NDA supplements must contain data that can be used to assess the safety and















                                         efficacy of the compound for the claimed indications in all relevant pediatric subpopulations















                                         and to support dosing and administration for each pediatric subpopulation for which the















                                         product is safe and effective. For a cancer drug directed at a molecular target, the















                                         pediatric testing requirement extends to pediatric cancers involving the molecular target















                                         even if different than the claimed adult cancer in the NDA. The FDA may grant deferrals















                                         for submission of pediatric data or full or partial waivers. The PREA requires that a















                                         sponsor who is planning to submit a marketing application for a compound that includes















                                         a new active ingredient, new indication, new dosage form, new dosing regimen or new route















                                         of administration submit an initial Pediatric Study Plan (the &ldquo;PSP&rdquo;), within















                                         60 days of an end-of-phase 2 meeting or, if there is no such meeting, as early as practicable















                                         before the initiation of the phase 3 or phase 2/3 study. The initial PSP must include















                                         an outline of the pediatric study or studies that the sponsor plans to conduct, including















                                         study objectives and design, age groups, relevant endpoints and statistical approach,















                                         or a justification for not including such detailed information, and any request for a















                                         deferral of pediatric assessments or a full or partial waiver of the requirement to provide















                                         data from pediatric studies along with supporting information. The FDA and the sponsor















                                         must reach an agreement on the PSP. A sponsor can submit amendments to an agreed-upon















                                         initial PSP at any time if changes to the pediatric plan need to be considered based















                                         on data collected from preclinical studies, early phase clinical trials and/or other















                                         clinical development programs. Unless otherwise required by regulation, the PREA does















                                         not apply to a drug for an indication for which orphan drug designation has been granted,















                                         except that the PREA will apply to an original NDA for a new active ingredient that is















                                         orphan-designated if the drug is a molecularly targeted cancer product intended for the















                                         treatment of an adult cancer and is directed at a molecular target that the FDA determines















                                         to be substantially relevant to the growth or progression of a pediatric cancer.</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A

drug can also obtain pediatric market exclusivity in the United States. Pediatric exclusivity, if granted, adds six months to

existing exclusivity periods. This&nbsp;six-month&nbsp;exclusivity, which runs from the end of other exclusivity protection or

patent term, may be granted based on the voluntary completion of a pediatric study in accordance with an&nbsp;FDA-issued&nbsp;&ldquo;Written

Request&rdquo; for such a study.</FONT></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>U.S.















Post-Approval Requirements for Drugs</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Drugs















approved by FDA are subject to continuing regulation by the FDA, including, among other things, requirements relating to manufacturing















establishment registration and product listing, recordkeeping, periodic reporting, product sampling and distribution, reporting















of adverse experiences with the product, field alerts regarding issues with distributed product, promotion and advertising compliance,















which include restrictions on promoting products for unapproved uses or patient populations (known as&nbsp;&ldquo;off-label&nbsp;use&rdquo;)















and limitations on industry-sponsored scientific and educational activities. Although physicians may prescribe approved products















for&nbsp;off-label&nbsp;uses, manufacturers may not market or promote such uses. The FDA and other agencies actively enforce the















laws and regulations prohibiting the promotion of&nbsp;off-label&nbsp;uses, as well as other advertising and promotion requirements,















including not only by company employees but also by agents of the company or those speaking on the company&rsquo;s behalf, and















a company that is found to have improperly promoted may be subject to significant liability, including investigation by federal















and state authorities. Failure to comply with these requirements can result in, among other things, adverse publicity, warning















letters, untitled letters, corrective advertising, and potential civil and criminal penalties, including liabilities under the















FCA where products obtain reimbursement under federal health care programs. Promotional materials for approved drugs must















be submitted to the FDA in conjunction with their first use or first publication, and for products approved under accelerated















approval prior to their first use. Further, if there are any modifications to the drug, including changes in indications, labeling















or manufacturing processes or facilities, the applicant may be required to submit and obtain FDA approval of a new NDA or NDA















supplement, which may require the development of additional data or preclinical studies and clinical trials.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















FDA may withdraw approval of a product if compliance with regulatory requirements and standards is not maintained or if problems















occur after the product reaches the market. Later discovery of previously unknown problems with a product, including adverse events















of unanticipated severity or frequency, or with manufacturing processes, or failure to comply with regulatory requirements, may















result in revisions to the approved labeling to add new safety information, requirements for post-market studies or clinical trials















to assess new safety risks, or imposition of distribution or other restrictions under a REMS. Other potential consequences include,















among other&nbsp;things:</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">restrictions















                                         on the marketing or manufacturing of the product, complete withdrawal of the product















                                         from the market or product recalls;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         issuance of safety alerts, Dear Healthcare Provider letters, press releases or other















                                         communications containing warnings or other safety information about the product;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">fines,















                                         warning letters or holds on post-approval clinical trials;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">refusal















                                         of the FDA to approve applications or supplements to approved applications, or suspension















                                         or revocation of product approvals;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">product















                                         seizure or detention, or refusal to permit the import or export of products;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">injunctions















                                         or the imposition of civil or criminal penalties; and</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">consent















                                         decrees, corporate integrity agreements, debarment or exclusion from federal healthcare















                                         programs; or mandated modification of promotional materials and labeling and issuance















                                         of corrective information.</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>United















States Patent Term Restoration and Marketing Exclusivity</i></font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify">Depending upon the timing,















duration and specifics of FDA approval of future lead compounds, some of our United States patents may be eligible for limited















patent term extension under the Drug Price Competition and Patent Term Restoration Act of 1984 (the &ldquo;Hatch-Waxman Amendments&rdquo;).















The Hatch-Waxman Amendments permit restoration of the patent term of up to five years as compensation for patent term lost during















the FDA regulatory review process for a drug that has not been previously approved for commercial marketing. Patent-term restoration,















however, cannot extend the remaining term of a patent beyond a total of 14 years from the product&rsquo;s approval date and only















those claims covering such approved drug product, a method for using it or a method for manufacturing it may be extended. The















patent-term restoration period is generally one-half the time between the effective date of an IND and the submission date of















an NDA plus the time between the submission date of an NDA and the approval of that application, except that the review period















is reduced by any time during which the applicant failed to exercise due diligence. Only one patent applicable to an approved















drug is eligible for the extension and the application for the extension must be submitted prior to the expiration of the patent.















The USPTO, in consultation with the FDA, reviews and approves the application for any patent term extension or restoration. In















the future, we may apply for restoration of patent term for our currently owned or licensed patents to add patent life beyond















its current expiration date, depending on the expected length of the clinical trials and other factors involved in the filing















of the relevant NDA.</p>































































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Regulatory















exclusivity provisions under the FDCA also can delay the submission or the approval of certain applications. The FDCA provides















a five-year period of&nbsp;non-patent&nbsp;marketing exclusivity within the United States to the first applicant to gain approval















of an NDA for a new chemical entity. A drug is a new chemical entity if the FDA has not previously approved any other new drug















containing the same active moiety, which is the molecule or ion responsible for the action of the drug substance. During the exclusivity















period, the FDA may not accept for review an ANDA, or a 505(b)(2) NDA, submitted by another company for another version of such















drug where the applicant does not own or have a legal right of reference to all the data required for approval. However, an application















may be submitted after four years if it contains a certification of patent invalidity or&nbsp;non-infringement.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: -0.05pt">The















FDCA also provides three years of exclusivity for an NDA, 505(b)(2) NDA, or supplement to an existing NDA, if new clinical investigations,















other than bioavailability studies, that were conducted or sponsored by the applicant are deemed by the FDA to be essential to















the approval of the application, for example, new indications, dosages or strengths of an existing drug. This three-year exclusivity















covers only the conditions of use associated with the new clinical investigations and prevents FDA approval of an ANDA or 505(b)(2)















NDA for such conditions of use, but does not prevent FDA acceptance for filing and review of an ANDA or 505(b)(2) NDA. The three-year















exclusivity does not prohibit the FDA from approving ANDAs or 505(b)(2) NDAs for drugs containing the original active agent for















other conditions of use outside those protected by the exclusivity. Five-year and three-year exclusivity will not delay the submission















or approval of a full NDA. However, an applicant submitting a full NDA would be required to conduct or obtain a right of reference















to all of the preclinical studies and adequate and well-controlled clinical trials necessary to evaluate maximum tolerated dose















and effectiveness.</p>































































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Other















Regulatory Matters</i></font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Manufacturing,















sales, promotion and other activities of products following product approval, where applicable, or commercialization are also















subject to regulation by numerous regulatory authorities in the United States in addition to the FDA, which may include the CMS,















other divisions of the U.S. Department of Health and Human Services (&ldquo;HHS&rdquo;), the Department of Justice, the Drug Enforcement















Administration, the Consumer Product Safety Commission, the Federal Trade Commission, the Occupational Safety&nbsp;&amp; Health















Administration, the Environmental Protection Agency and state and local governments and governmental agencies.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Healthcare















Laws</i></font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Healthcare















providers, physicians, and third-party payors will play a primary role in the recommendation and prescription of any products















for which we obtain marketing approval. Our business operations and any current or future arrangements with third-party payors,















healthcare providers, and physicians may expose us to broadly applicable fraud and abuse and other healthcare laws and regulations















that may constrain the business or financial arrangements and relationships through which we develop, market, sell and distribute















any drugs for which we obtain marketing approval. In the United States, these laws include federal and state anti-kickback, false















claims, physician transparency, and patient data privacy and security laws and regulations, including those described below.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















                                         federal Anti-Kickback Statute, which prohibits, among other things, persons from knowingly















                                         and willfully soliciting, receiving, offering or paying any remuneration (including any















                                         kickback, bribe, or rebate), directly or indirectly, overtly or covertly, in cash or















                                         in kind, to induce, or in return for, either the referral of an individual, or the purchase,















                                         lease, order or recommendation of any good, facility, item or service for which payment















                                         may be made, in whole or in part, under a federal healthcare program, such as the Medicare















                                         and Medicaid programs. A person or entity does not need to have actual knowledge of the















                                         statute or specific intent to violate it in order to have committed a violation. Violations















                                         are subject to civil and criminal fines and penalties for each violation, plus up to















                                         three times the remuneration involved, imprisonment, and exclusion from federal health















                                         care programs. In addition, the government may assert that a claim including items or















                                         services resulting from a violation of the federal Anti-Kickback Statute constitutes















                                         a false or fraudulent claim for purposes of the FCA. There are a number of statutory















                                         exceptions and regulatory safe harbors protecting some common activities from prosecution,















                                         but the exceptions and safe harbors are drawn narrowly and require strict compliance















                                         in order to offer protection.</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















                                         federal civil and criminal false claims laws, including the FCA, which can be enforced















                                         through civil &ldquo;whistleblower&rdquo; actions, and civil monetary penalty laws, impose















                                         criminal and civil penalties against individuals or entities for, among other things,















                                         knowingly presenting, or causing to be presented, claims for payment or approval from















                                         Medicare, Medicaid, or other federal health care programs that are false or fraudulent;















                                         knowingly making or causing a false statement material to a false or fraudulent claim















                                         or an obligation to pay money to the federal government; or knowingly concealing or knowingly















                                         and improperly avoiding or decreasing such an obligation. Manufacturers can be held liable















                                         under the FCA even when they do not submit claims directly to government payors if they















                                         are deemed to &ldquo;cause&rdquo; the submission of false or fraudulent claims. When















                                         an entity is determined to have violated the federal civil FCA, the government may impose















                                         civil fines and penalties for each false claim, plus treble damages, and exclude the















                                         entity from participation in Medicare, Medicaid and other federal healthcare programs.</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















                                         federal civil monetary penalties laws impose civil fines for, among other things, the















                                         offering or transfer or remuneration to a Medicare or state healthcare program beneficiary,















                                         if the person knows or should know it is likely to influence the beneficiary&rsquo;s















                                         selection of a particular provider, practitioner, or supplier of services reimbursable















                                         by Medicare or a state health care program, unless an exception applies.</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HIPAA,















                                         which created additional federal criminal statutes that prohibit knowingly and willfully















                                         executing, or attempting to execute, a scheme to defraud any healthcare benefit program















                                         or obtain, by means of false or fraudulent pretenses, representations, or promises, any















                                         of the money or property owned by, or under the custody or control of, any healthcare















                                         benefit program, regardless of the payor (including, public or private) and knowingly















                                         and willfully falsifying, concealing or covering up by any trick or device a material















                                         fact or making any materially false statements in connection with the delivery of, or















                                         payment for, healthcare benefits, items or services relating to healthcare matters. Similar















                                         to the federal Anti-Kickback Statute, a person or entity can be found guilty of violating















                                         HIPAA without actual knowledge of the statute or specific intent to violate it.</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HIPAA,















                                         as amended by HITECH, and their respective implementing regulations, which impose requirements















                                         on certain covered healthcare providers, health plans, and healthcare clearinghouses















                                         and their respective business associates that perform services for them that involve















                                         the use, or disclosure of, individually identifiable health information as well as their















                                         covered subcontractors, relating to the privacy, security and transmission of individually















                                         identifiable health information without appropriate authorization. HITECH also created















                                         new tiers of civil monetary penalties, amended HIPAA to make civil and criminal penalties















                                         directly applicable to business associates, and gave state attorneys general new authority















                                         to file civil actions for damages or injunctions in federal courts to enforce the federal















                                         HIPAA laws and seek attorneys&rsquo; fees and costs associated with pursuing federal















                                         civil actions.</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















                                         federal Physician Payments Sunshine Act, enacted as part of the Patient Protection and















                                         Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of















                                         2010 (collectively, the &ldquo;ACA&rdquo;), imposed annual reporting requirements for















                                         certain manufacturers of drugs, devices, biologics, and medical supplies for which payment















                                         is available under Medicare, Medicaid, or the Children&rsquo;s Health Insurance Program,















                                         for certain payments and &ldquo;transfers of value&rdquo; provided to physicians (currently















                                         defined to include doctors, dentists, optometrists, podiatrists and chiropractors) and















                                         teaching hospitals, as well as ownership and investment interests held by physicians















                                         and their immediate family members. Effective January 1, 2022, these reporting obligations















                                         will extend to include transfers of value made in the previous year to certain non-physician















                                         providers such as physician assistants and nurse practitioners.</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Federal















                                         consumer protection and unfair competition laws broadly regulate marketplace activities















                                         and activities that potentially harm consumers.</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Analogous















                                         state and foreign laws and regulations, such as state and foreign anti-kickback, false















                                         claims, consumer protection and unfair competition laws which may apply to pharmaceutical















                                         business practices, including but not limited to, research, distribution, sales and marketing















                                         arrangements as well as submitting claims involving healthcare items or services reimbursed















                                         by any third-party payor, including commercial insurers; state laws that require pharmaceutical















                                         companies to comply with the pharmaceutical industry&rsquo;s voluntary compliance guidelines















                                         and the relevant compliance guidance promulgated by the federal government that otherwise















                                         restricts payments that may be made to healthcare providers and other potential referral















                                         sources; state laws that require drug manufacturers to file reports with states regarding















                                         pricing and marketing information, such as the tracking and reporting of gifts, compensations















                                         and other remuneration and items of value provided to healthcare professionals and entities;















                                         state and local laws requiring the registration of pharmaceutical sales representatives;















                                         and state and foreign laws governing the privacy and security of health information in















                                         certain circumstances, many of which differ from each other in significant ways and may















                                         not have the same effect, thus complicating compliance efforts.</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















scope and enforcement of each of these laws is uncertain and subject to rapid change in the current regulatory and healthcare















environment, especially in light of the lack of applicable precedent and regulations. Federal and state enforcement bodies have















recently increased their scrutiny of interactions between healthcare companies and healthcare providers, which has led to a number















of investigations, prosecutions, convictions and settlements in the healthcare industry.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Insurance















Coverage and Reimbursement</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the United States and markets in















other countries, patients who are prescribed treatments for their conditions and providers performing healthcare services generally















rely on third-party payors to reimburse all or part of the associated healthcare costs. Thus, even if a compound is approved,















sales of the product will depend, in part, on the extent to which third-party payors, including government healthcare programs















in the United States such as Medicare and Medicaid, private health insurers, managed care organizations and other third-party















payors, provide coverage, and establish adequate reimbursement levels for, the product. In the United States, principal decisions















about Medicare reimbursement for new products are typically made by CMS and regional contractors responsible for administering















the Medicare program. CMS and these contractors decide whether and to what extent a new product will be covered and reimbursed















under Medicare, and private third-party payors often follow CMS&rsquo;s decisions regarding coverage and reimbursement to a substantial















degree.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Reimbursement by a third-party payor















may depend upon a number of factors, including, but not limited to, the third-party payor&rsquo;s determination that use of a















product is (1) a covered benefit under its health plan; (2) safe, effective and medically necessary; (3) appropriate for the specific















patient; (4) cost-effective; and (5) neither experimental nor investigational. Reimbursement rates may vary according to the use















of the drug and the clinical setting in which it is used, may be based on reimbursement levels already set for lower cost drugs















and may be incorporated into existing payments for other services. However, one third-party payor&rsquo;s determination to provide















coverage for a compound does not assure that other payors will also provide coverage for the compound. No uniform policy















of coverage and reimbursement for products exists among third-party payors, and coverage and reimbursement levels for products















can differ significantly from payor to payor.</p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Third-party















payors are increasingly challenging the prices charged, examining the medical necessity, reviewing the cost-effectiveness of medical















products and services and imposing controls to manage costs. In order to secure coverage and reimbursement for any product that















might be approved for sale, a company may need to conduct expensive pharmaco-economic studies in order to demonstrate the cost















effectiveness of the product, which will require additional expenditure above and beyond the costs required to obtain FDA or other















comparable regulatory approvals. Third-party payors may limit coverage to specific products on an approved list, also known as















a formulary, which might not include all of the&nbsp;FDA-approved&nbsp;products for a particular indication. Moreover, the containment















of healthcare costs has become a priority of federal, state and foreign governments, and the prices of products have been a focus















in this effort. Governments have shown significant interest in implementing cost-containment programs, including price controls















or price increase penalties, restrictions on reimbursement and requirements for substitution of generic products.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In















addition, companion diagnostic tests require coverage and reimbursement separate and apart from the coverage and reimbursement















for their companion pharmaceutical products. Similar challenges to obtaining coverage and reimbursement, applicable to pharmaceutical















products, will apply to companion diagnostics.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Current















and Future Healthcare Reform Legislation</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify">In the United States and















certain foreign jurisdictions, there have been, and likely will continue to be, a number of proposed and adopted legislative and















regulatory changes regarding the healthcare system directed at broadening the availability of healthcare, improving the quality















of healthcare, and containing or lowering the cost of healthcare. For example, in March 2010, the United States Congress enacted















the ACA, which, among other things, includes changes to the coverage and payment for products under government health care programs.















The ACA includes provisions of importance to our potential lead compounds that:</p>































































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">created















                                         an annual, nondeductible fee on any entity that manufactures or imports specified branded















                                         prescription drug products, apportioned among these entities according to their market















                                         share in certain government healthcare programs;</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->71<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">expanded















                                         eligibility criteria for Medicaid programs by, among other things, allowing states to















                                         offer Medicaid coverage to certain individuals with income at or below 133% of the federal















                                         poverty level, thereby potentially increasing a manufacturer&rsquo;s Medicaid rebate















                                         liability;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">expanded















                                         manufacturers&rsquo; rebate liability under the Medicaid Drug Rebate Program by increasing















                                         the minimum rebate for both branded and generic drugs and revising the definition of















                                         &ldquo;average manufacturer price,&rdquo; or AMP, for calculating and reporting Medicaid















                                         drug rebates on outpatient prescription drug prices;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">addressed















                                         a new methodology by which rebates owed by manufacturers under the Medicaid Drug Rebate















                                         Program are calculated for drugs that are inhaled, infused, instilled, implanted or injected;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">expanded















                                         the types of entities eligible for the 340B drug discount program;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">established















                                         the Medicare Part D coverage gap discount program by requiring manufacturers to provide















                                         point-of-sale-discounts off the negotiated price of applicable brand drugs to eligible















                                         beneficiaries during their coverage gap period as a condition for the manufacturers&rsquo;















                                         outpatient drugs to be covered under Medicare Part D; and</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">created















                                         a new Patient-Centered Outcomes Research Institute to oversee, identify priorities in,















                                         and conduct comparative clinical effectiveness research, along with funding for such















                                         research.</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since















its enactment, there have been numerous judicial, administrative, executive, and legislative challenges to certain aspects of















the ACA, and we expect there will be additional challenges and amendments to the ACA in the future. For example, various portions















of the ACA have faced legal and constitutional challenges, including in the United States Supreme Court; the Trump administration















issued various Executive Orders which eliminated cost sharing subsidies and various provisions that would impose a fiscal burden















on states or a cost, fee, tax, penalty or regulatory burden on individuals, healthcare providers, health insurers, or manufacturers















of pharmaceuticals or medical devices; and Congress introduced several pieces of legislation aimed at significantly revising or















repealing the ACA. It is unclear whether the ACA will be overturned, repealed, replaced, or further amended in the future, and















we cannot predict what effect further changes to the ACA would have on our business.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0">Other legislative changes have been proposed















and adopted in the United States since the ACA was enacted. For example, in August 2011, the Budget Control Act of 2011, among















other things, included reductions of Medicare payments to providers of 2%, which went into effect in April 2013 and, due to subsequent















legislative amendments to the statute, will remain in effect through 2030 unless additional Congressional action is taken. In January















2013, the American Taxpayer Relief Act of 2012 was signed into law, which, among other things, further reduced Medicare payments















to several providers, including hospitals, imaging centers and cancer treatment centers, and increased the statute of limitations















period for the government to recover overpayments to providers from three to five&nbsp;years.</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Moreover,















payment methodologies may be subject to changes in healthcare legislation and regulatory initiatives. For example, CMS may develop















new payment and delivery models, including bundled payment models. In addition, recently there has been heightened governmental















scrutiny over the manner in which manufacturers set prices for their commercial products, which has resulted in numerous Congressional















inquiries and proposed and enacted state and federal legislation designed to, among other things, bring more transparency to product















pricing, review the relationship between pricing and manufacturer patient programs, and reform government program reimbursement















methodologies for pharmaceutical products. At the federal level, former President Trump used several means to propose or implement















drug pricing reform, including through federal budget proposals, executive orders, and policy initiatives. It is unclear whether















the Biden administration will work to reverse those measures or pursue similar or other policy initiatives, for example related















to an independent review board or other mechanisms that would impact drug pricing and reimbursement.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On















November&nbsp;20, 2020, CMS and the HHS Office of the Inspector General issued two final rules implementing changes to the Physician















Self-Referral Law, or Stark Law, and the Anti-Kickback Statute. These new rules provide new value-based enterprise exceptions















and safe harbors to the Stark Law and the Anti-Kickback Statute, as well as offer additional clarification in the form of updated















definitions.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Compliance















with Other Federal and State Laws or Requirements; Changing Legal Requirements</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If















any products that we may develop are made available to authorized users of the Federal Supply Schedule of the General Services















Administration, additional laws and requirements apply. Products must meet applicable child-resistant packaging requirements under















the U.S. Poison Prevention Packaging Act. Manufacturing, labeling, packaging, distribution, sales, promotion and other activities















also are potentially subject to federal and state consumer protection and unfair competition laws, among other requirements to















which we may be subject. The distribution of pharmaceutical products is subject to additional requirements and regulations, including















extensive recordkeeping, licensing, storage and security requirements intended to prevent the unauthorized sale of pharmaceutical















products, and state licensure.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















failure to comply with any of these laws or regulatory requirements may subject firms to legal or regulatory action. Depending















on the circumstances, failure to meet applicable regulatory requirements can result in criminal prosecution, fines or other penalties,















injunctions, exclusion from federal healthcare programs, requests for recall, seizure of products, total or partial suspension















of production, denial or withdrawal of product approvals, relabeling or repackaging, or refusal to allow a firm to enter into















supply contracts, including government contracts. Any claim or action against us for violation of these laws, even if we successfully















defend against it, could cause us to incur significant legal expenses and divert our management&rsquo;s attention from the operation















of our business. Prohibitions or restrictions on marketing, sales or withdrawal of future products marketed by us could materially















affect our business in an adverse way.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes















in regulations, statutes or the interpretation of existing regulations could impact our business in the future by requiring, for















example: (1)&nbsp;changes to our manufacturing arrangements; (2)&nbsp;additions or modifications to product labeling or packaging;















(3)&nbsp;the recall or discontinuation of our products; or (4)&nbsp;additional recordkeeping requirements. If any such changes















were to be imposed, they could adversely affect the operation of our business.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Government















Regulation of Drugs Outside of the United States</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To















market any product outside of the United States, we would need to comply with numerous and varying regulatory requirements of















other countries regarding safety and efficacy and governing, among other things, clinical trials, marketing authorization, manufacturing,















commercial sales and distribution of our products. These regulatory requirements may be similarly complex and even more stringent















in certain regards than those described above. If we fail to comply with applicable regulatory requirements in the jurisdiction















where we conduct clinical trials or seek regulatory approvals, we may be subject to, among other things, fines, suspension or















withdrawal of regulatory approvals, product recalls, seizure of products, operating restrictions and criminal prosecution.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For















instance, in the European Economic Area (the &ldquo;EEA&rdquo;) (comprising the 27 EU member states plus Iceland, Liechtenstein















and Norway), medicinal products must be authorized for marketing by using either the centralized authorization procedure or national















authorization procedures.</font></P>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</P>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></P>































<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 24.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="width: 16.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Centralized procedure&mdash;The centralized















    procedure provides for the grant of a single marketing authorization by the European Commission that is valid throughout the















    EEA. Pursuant to Regulation (EC) No. 726/2004, the centralized procedure is compulsory for specific products, including for















    medicines produced by certain biotechnological processes, products designated as orphan medicinal products, advanced therapy















    products (gene therapy, somatic cell therapy and tissue engineered products) and products with a new active substance indicated















    for the treatment of certain diseases, which includes products for the treatment of cancer. For medicines that do not fall















    within one of the mandatory categories, an applicant still has the option of submitting an application for a centralized marketing















    authorization to the European Medicines Agency (the &ldquo;EMA&rdquo;), as long as the medicine concerned contains a new active















    substance not authorized in the EEA prior to May 20, 2004, is a significant therapeutic, scientific or technical innovation,















    or if its authorization would be in the interest of public health in the EEA. If pursuing marketing authorization of a lead















    compound for a therapeutic indication under the centralized procedure, the EMA&rsquo;s Committee for Medicinal Products for















    Human Use (the &ldquo;CHMP&rdquo;), is responsible for conducting an initial assessment of whether a product meets the required















    quality, safety and efficacy requirements, and whether a product has a positive benefit/risk ratio. Under the centralized















    procedure the maximum timeframe for the evaluation of a marketing authorization application (the &ldquo;MAA&rdquo;), by the















    EMA is 210 days, excluding clock stops, when additional written or oral information is to be provided by the applicant in















    response to questions asked by the CHMP. Clock stops may extend the timeframe of evaluation of a MAA considerably beyond 210















    days. Where the CHMP gives a positive opinion, it provides the opinion together with supporting documentation to the European















    Commission, who make the final decision to grant a marketing authorization, which is issued within 67 days of receipt of the















    EMA&rsquo;s recommendation. Accelerated assessment might be granted by the CHMP in exceptional cases, when a medicinal product















    is expected to be of major public health interest, particularly from the point of view of therapeutic innovation. The timeframe















    for the evaluation of a MAA under the accelerated assessment procedure is 150 days, excluding clock stops, but it is possible















    that the CHMP may revert to the standard time limit for the centralized procedure if it determines that the application is















    no longer appropriate to conduct an accelerated assessment.</FONT></TD></TR>















</TABLE>















<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT>&nbsp;</p>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>































<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>















    <TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">National authorization procedures&mdash;There















    are also two other possible routes to authorize products for therapeutic indications in several countries, which are available















    for products that fall outside the scope of the centralized procedure:</FONT></TD></TR>















</TABLE>















<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>































<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>















    <TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Decentralized procedure&mdash;Using the decentralized















    procedure, an applicant may apply for simultaneous authorization in more than one EEA Member State for a medicinal product















    that has not yet been authorized in any EEA Member State and that does not fall within the mandatory scope of the centralized















    procedure.</FONT></TD></TR>















</TABLE>















<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>































<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>















    <TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mutual recognition procedure&mdash;In the mutual















    recognition procedure, a medicine is first authorized in one EEA Member State, in accordance with the national procedures















    of that country. Following this, additional marketing authorizations can be sought from other EEA Member States in a procedure















    whereby the countries concerned recognize the validity of the original, national marketing authorization.</FONT></TD></TR>















</TABLE>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In















both cases, as with the centralized procedure, the competent authorities of the EEA Member States assess the risk-benefit balance















of the product on the basis of scientific criteria concerning its quality, safety and efficacy before granting the marketing authorization.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In















the EEA, new products for therapeutic indications that are authorized for marketing (so called&nbsp;&ldquo;references products&rdquo;)















qualify for eight years of data exclusivity and an additional two years of market exclusivity upon marketing authorization. The















data exclusivity period prevents generic or biosimilar applicants from referencing the preclinical and clinical trial data contained















in the dossier of the reference product when applying for a generic or biosimilar marketing authorization in the EEA during a















period of eight years from the date on which the reference product was first authorized in the EEA. The additional&nbsp;two-year&nbsp;period















of market exclusivity period prevents a successful generic or biosimilar applicant from commercializing its product in the EEA















until ten years have elapsed from the initial authorization of the reference product in the EU. The overall&nbsp;ten-year&nbsp;period















can be extended to a maximum of eleven years if, during the first eight years of those ten years, the marketing authorization















holder obtains an authorization for one or more new therapeutic indications which, during the scientific evaluation prior to their















authorization, are held to bring a significant clinical benefit in comparison with existing therapies. Even if a compound is considered















to be a new active substance so that the innovator gains the prescribed period of data exclusivity, another company may market















another version of the product if such company obtained marketing authorization based on a MAA with a complete independent data















package of pharmaceutical tests, preclinical tests and clinical trials.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The criteria for designating an &ldquo;orphan















medicinal product&rdquo; in the EEA are similar in principle to those in the United States. Under Article 3 of Regulation (EC)















141/2000, in the EEA a medicinal product may be designated as orphan if it meets the following criteria (1) it is intended for















the diagnosis, prevention or treatment of a life-threatening or chronically debilitating condition; and (2) either (a) such condition















affects no more than five in 10,000 persons in the EEA when the application is made, or (b) it is unlikely that the product, without















the benefits derived from orphan status, would generate sufficient return in the EEA to justify the investment needed for its















development; and (3) there exists no satisfactory method of diagnosis, prevention or treatment of such condition, or if such a















method exists, the product will be of significant benefit to those affected by the condition. Orphan medicinal products are eligible















for financial incentives such as reduction of fees or fee waivers and are, upon grant of a marketing authorization, entitled to















ten years of market exclusivity for the approved therapeutic indication. During this ten-year orphan market exclusivity period,















no marketing authorization application shall be accepted, and no marketing authorization shall be granted for a similar medicinal















product for the same indication, although similar, is safer, more effective or otherwise clinically superior than the authorized















product; (ii) the marketing authorization holder of the authorized product consents to a second orphan medicinal product application;















or (iii) the marketing authorization holder of the authorized product cannot supply enough orphan medicinal product. An orphan















product can also obtain an additional two years of market exclusivity in the EEA for pediatric studies. The ten-year market exclusivity















may be reduced to six years if, at the end of the fifth year, it is established that the product no longer meets the criteria















for orphan drug designation, for example, if the product is sufficiently profitable not to justify maintenance of market exclusivity.















The application for orphan drug designation must be submitted before the application for marketing authorization. The applicant















will receive a fee reduction for the MAA if the orphan drug designation has been granted, but not if the designation is still















pending at the time the marketing authorization is submitted. Orphan drug designation does not convey any advantage in, or shorten















the duration of, the regulatory review and approval process.</p>































































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Similar















to the United States, the various phases of&nbsp;non-clinical&nbsp;and clinical research in the European Union are subject to















significant regulatory controls.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Clinical Trials Directive 2001/20/EC, the Directive 2005/28/EC on GCP and the related national implementing provisions of the















individual EU member states govern the system for the approval of clinical trials in the European Union. Under this system, an















applicant must obtain prior approval from the national competent authority (the &ldquo;NCA&rdquo;), of the EU member states in















which the clinical trial is to be conducted. Furthermore, the applicant may only start a clinical trial at a specific study site















after the competent ethics committee (the &ldquo;EC&rdquo;), has issued a favorable opinion. The clinical trial application must















be accompanied by, among other documents, an investigational medicinal product dossier (the Common Technical Document) with supporting















information prescribed by Directive 2001/20/EC, Directive 2005/28/EC, and the provisions of the individual EU member states&rsquo;















legislation implementing the Clinical Trials Directive. Under the current regime (the EU Clinical Trials Directive 2001/20/EC















and corresponding national laws) all suspected unexpected serious adverse reactions to the investigated drug that occur during















the clinical trial have to be reported to the NCA and ECs of the Member State where they occurred.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In















April 2014, the new Clinical Trials Regulation, (EU) No 536/2014 (the &ldquo;Clinical Trials Regulation&rdquo;) was adopted, which















is expected to apply following confirmation of full functionality of the Clinical Trials Information System, the centralized European















Union portal and database for clinical trials foreseen by the regulation, through an independent audit. The regulation becomes















applicable six months after the European Commission publishes notice of this confirmation, which it has not yet done. The Clinical















Trials Regulation will be directly applicable in all the EU member states, repealing the current Clinical Trials Directive 2001/20/EC.















Conduct of all clinical trials performed in the European Union will continue to be bound by the Clinical Trials Directive and















the Member States&rsquo; national implementing legislation until the new Clinical Trials Regulation becomes applicable. The extent















to which ongoing clinical trials will be governed by the Clinical Trials Regulation will depend on when the Clinical Trials Regulation















becomes applicable and on the duration of the individual clinical trial. If a clinical trial continues for more than three years















from the day on which the Clinical Trials Regulation becomes applicable the Clinical Trials Regulation will at that time begin















to apply to the clinical trial. The new Clinical Trials Regulation aims to simplify and streamline the approval of clinical trials















in the European Union. The main characteristics of the regulation include: a streamlined application procedure via a single-entry















point, the &ldquo;EU portal&rdquo;; a single set of documents to be prepared and submitted for the application as well as simplified















reporting procedures for clinical trial sponsors; and a harmonized procedure for the assessment of applications for clinical trials,















which is divided in two parts. Part&nbsp;I is assessed by the competent authorities of all EU member states in which an application















for authorization of a clinical trial has been submitted (Member States concerned). Part&nbsp;II is assessed separately by each















Member State concerned. Strict deadlines have been established for the assessment of clinical trial applications. The role of















the relevant ethics committees in the assessment procedure will continue to be governed by the national law of the concerned EU















member state. However, overall related timelines will be defined by the Clinical Trials Regulation.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify">Outside the United States,















ensuring coverage and adequate payment for a product also involves challenges. Pricing of prescription pharmaceuticals is subject















to government control in many countries. Pricing negotiations with government authorities can extend well beyond the receipt of















regulatory approval for a product and may require a clinical trial that compares the cost-effectiveness of a product to other















available therapies. The conduct of such a clinical trial could be expensive and result in delays in commercialization. For example,















in the European Union, pricing and reimbursement schemes vary widely from country to country. Some countries provide that products















may be marketed only after a reimbursement price has been agreed upon. Some countries may require the completion of additional















studies that compare the cost-effectiveness of a particular compound to currently available therapies or so-called health















technology assessments, in order to obtain reimbursement or pricing approval. For example, the European Union provides options















for its member states to restrict the range of products for which their national health insurance systems provide reimbursement















and to control the prices of medicinal products for human use. European Union member states may approve a specific price for a















product or may instead adopt a system of direct or indirect controls on the profitability of the company placing the product on















the market. Other member states allow companies to fix their own prices for products, but monitor and control prescription volumes















and issue guidance to physicians to limit prescriptions. Recently, many countries in the European Union have increased the amount















of discounts required on pharmaceuticals and these efforts could continue as countries attempt to manage healthcare expenditures,















especially in light of the severe fiscal and debt crises experienced by many countries in the European Union. The downward pressure















on healthcare costs in general, particularly prescription products, has become intense. As a result, increasingly high barriers















are being erected to the entry of new products. Political, economic and regulatory developments may further complicate pricing















negotiations, and pricing negotiations may continue after reimbursement has been obtained. Reference pricing used by various European















Union member states, and parallel trade, in other words, arbitrage between low- priced and high-priced member states, can further















reduce prices. There can be no assurance that any country that has price controls or reimbursement limitations for pharmaceutical















products will allow favorable reimbursement and pricing arrangements for any products, if approved in those countries.</p>































































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<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Government















Regulation of Data Collection Outside of the United States</i></font></p>































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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In















the event we conduct clinical trials in the European Union, we will be subject to additional privacy restrictions. The collection















and use of personal health data in the EEA is governed by the General Data Protection Regulation (the &ldquo;GDPR&rdquo;), which















became effective on May&nbsp;25, 2018. The GDPR applies to the processing of personal data by any company established in the EEA















and to companies established outside the EEA to the extent they process personal data in connection with the offering of goods















or services to data subjects in the EEA or the monitoring of the behavior of data subjects in the EEA. The GDPR enhances data















protection obligations for data controllers of personal data, including stringent requirements relating to the consent of data















subjects, expanded disclosures about how personal data is used, enhanced requirements for securing personal data, requirements















to conduct privacy impact assessments for &ldquo;high risk&rdquo; processing, limitations on retention of personal data, mandatory















data breach notification and &ldquo;privacy by design&rdquo; requirements, and creates direct obligations on service providers















acting as processors. The GDPR also imposes strict rules on the transfer of personal data outside of the EEA to countries that















do not ensure an adequate level of protection, like the United States. Failure to comply with the requirements of the GDPR and















the related national data protection laws of the EEA Member States, which may deviate slightly from the GDPR, may result in fines















of up to 4% of a company&rsquo;s global revenue for the preceding financial year, or&nbsp;&euro;20&nbsp;million, whichever is















greater. Moreover, the GDPR grants data subjects the right to claim material and&nbsp;non-material&nbsp;damages resulting from















infringement of the GDPR. Given the breadth and depth of changes in data protection obligations, maintaining compliance with the















GDPR will require significant time, resources and expense, and we may be required to put in place additional controls and processes















ensuring compliance with the new data protection rules. There has been limited enforcement of the GDPR to date, particularly in















biopharmaceutical development, so we face uncertainty as to the exact interpretation of the new requirements on any future trials















and we may be unsuccessful in implementing all measures required by data protection authorities or courts in interpretation of















the new law. Further, the United Kingdom&rsquo;s decision to leave the European Union, means that it has in force its own legislation,















which is aligned with the GDPR, known as the Data Protection Act 2018. The requirements are similar except that the United Kingdom















is now regarded as a &ldquo;third country&rdquo; for the purposes of transfers of personal data from the EEA. Transfers continue















to flow freely from the UK to the EEA following an adequacy decision from the European Commission adopted on June&nbsp;28, 2021















and valid for four years.</FONT></p>































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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Data















protection authority activity differs across the EU, with certain authorities applying their own agenda which shows there is uncertainty















in the manner in which data protection authorities will seek to enforce compliance with GDPR. For example, it is not clear if















the authorities will conduct random audits of companies doing business in the EU, or if the authorities will wait for complaints















to be filed by individuals who claim their rights have been violated. Enforcement uncertainty and the costs associated with ensuring















GDPR compliance are onerous and may adversely affect our business, financial condition, results of operations and prospects.</font></p>































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we utilize third-party distributors, compliance with such foreign governmental regulations would generally be the responsibility















of such distributors, who may be independent contractors over whom we have limited control.</font></p>































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<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="a011_v1"></a>MANAGEMENT</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive















Officers and Directors</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















following table provides information regarding our current executive officers and directors:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 33%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT> </TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Age</B></FONT> </TD>
    <TD STYLE="width: 57%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Position</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Executive
    Officers</I></B></FONT> </TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Francis
    Knuettel II</FONT> </TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">57</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interim
    Chief Executive Officer, Chief Financial Officer, Treasurer and Secretary</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eric
    Lang</FONT> </TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">62</FONT> </TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Medical Officer</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt; padding-top: 6pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Directors</I></B></FONT> </TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Todd
    Davis</FONT> </TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">62</FONT> </TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director
    (Chairman of the Board)</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ezra
    Friedberg</FONT> </TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">53</FONT> </TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Richard
    Malamut</FONT> </TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">64</FONT> </TD>
    <TD STYLE="padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chia-Lin
    Simmons</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">50</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT>&nbsp;</p>































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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Biographic Information - Executive















Officers<font style="font-size: 10pt; font-weight: normal">&nbsp;</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><font style="font-size: 10pt; font-weight: normal">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B><I>Francis Knuettel II </I></B>has
served as our Interim Chief Executive Officer since July 2023, and as our Chief Financial Officer, Treasurer and Secretary since
June 2022. Prior to that, from December 2020 to April 2022, he served as Chief Executive Officer and director of Unrivaled Brands,
a California-based operator of cannabis assets in California and Oregon, where he helped grow revenue from an annualized rate
of $10 million to $100 million in six quarters by acquiring three companies in the sector. He also served as Chief Financial Officer
of ONE Cannabis Group from June 2019 to January 2021 and held various roles at MJardin Group, including Chief Strategy Officer,
from August 2018 to January 2019. Prior to MJardin Group, Mr. Knuettel served as Chief Financial Officer of Aqua Metals in 2018
and held the same position at Marathon Patent Group from 2014 to 2018. During Mr. Knuettel&rsquo;s career, he has helped raise
more than $300 million via venture equity and debt, public equity and debt offerings in the United States and Canada, convertible
debt, PIPEs, bridge loans and other instruments. In addition, he has managed more than 15 mergers and acquisition transactions
of companies as both buyer and seller and has handled large-scale licensing transactions with fortune 50 companies. Mr. Knuettel
also holds numerous board positions at both public and private companies, including ECOM Medical since 2019, 180 Life Sciences
(Nasdaq: ATNF) since 2021, Relativity Acquisition Corp. (Nasdaq: RACY) since 2022, and Capstone Technologies Group Inc (OTC: CATG)
since 2023. Mr. Knuettel received his BA with honors in Economics from Tufts University and holds an MBA in Finance and Entrepreneurial
Management from The Wharton School at the University of Pennsylvania. </P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B><I>Eric Lang</I></B> has served
as our Chief Medical Officer since June 2023. Prior to that, from September 2018 to May 2023, Dr. Lang served at Nevakar Inc,
initially as Vice President of Clinical Development and later as its Chief Medical Officer. From January 2018 to September 2018,
Dr. Lang served as the Chief Medical Officer at Entera Bio Ltd. (Nasdaq: ENTX). From February 2012 to November 2017, he served
at Covance (now Labcorp Drug Development), heading an international team that assisted smaller biotech companies in moving their
programs through the various phases of pre-clinical and clinical development. From August 2010 to January 2012, Dr. Lang served
at Grunenthal USA, Inc. as their head of clinical development. Prior to that, Dr. Lang led the clinical development team at Javelin
Pharmaceuticals, Inc. from October 2008 to August 2010, which was acquired by Hospira (now Pfizer Inc.) in 2010. Dr. Lang worked
for Novartis Consumer Health from October 2006 to October 2008 and he began his career with Johnson &amp; Johnson (NYSE: JNJ)
where he worked from 1999 to 2006. Dr. Lang is an Anesthesiologist and Pain Management Specialist with over 26 years of experience
in the pharmaceutical industry. During his pharmaceutical career, he has had both broad-based drug and device development expertise
in a variety of therapeutic areas. Dr. Lang has experience in designing development programs from early translational stages through
phase III including the successful filing of several recent INDs and NDAs. He has experience with Regulatory interactions and
negotiations with FDA and various European and Asian Authorities. Dr. Lang received his Doctor of Medicine from Ben-Gurion University
of the Negev&nbsp;and completed post graduate training at Emory University in Atlanta, GA. </P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify"><B>Biographical Information - Directors</B></P>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Todd Davis&nbsp;</I></B>has served as a
member of our board of directors since January 2023. He is the founder and has served as the managing partner of RoyaltyRx Capital, LLC,
a special opportunities investment firm, since 2018. Since November 2019, he has also served as Chairman and CEO of Benuvia Holdings,
LLC, a pharmaceutical holding company. From 2006 to 2018, Mr. Davis&nbsp;was a founder and managing partner of Cowen/HealthCare Royalty
Partners, a global healthcare investment firm. From 2004 to 2006, Mr. Davis&nbsp;was a partner at Paul Capital Partners, where he co-managed
its royalty investments as a member of the Royalty Management Committee. From 2001 to 2004, he served as a partner responsible for biopharmaceutical
growth equity investments at Apax Partners. Mr. Davis began his business career in sales at Abbott Laboratories where he held several
commercial roles of increasing responsibility. He subsequently held general management, business development, and licensing roles at
Elan Pharmaceuticals. Mr. Davis&nbsp;is a navy veteran and received a B.S. from the U.S. Naval Academy and an M.B.A. from the Harvard
Business School. He currently serves on the board of directors of Palvella Therapeutics Inc., BioDelivery Sciences International, Inc.,
and Ligand Pharmaceuticals Incorporated. He is also a board member of the Harvard Business School Healthcare Alumni Association. We believe
Mr. Davis&nbsp;is qualified to serve on the board of directors because of his extensive experience within the life sciences industry,
including as a founder and managing partner of a special opportunities investment firm.</P>
































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>















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<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Ezra Friedberg </i></b>has served















as a member of our board of directors since May 2021. Since September 2011, Mr. Friedberg has served as co-founder and general















partner of Multiplier Capital, a fund focused on lending opportunities to sponsor-backed growth companies. He is also a member















of the fund&rsquo;s credit committee. Mr. Friedberg is a seasoned investor with more than twenty years of investing experience















in both public and private companies. He invests actively in the biotech space and has served on the board of directors of Humanigen















(Nasdaq: HGEN), a clinical-stage biopharmaceutical company which develops monoclonal antibodies. His other investments include















private equity, venture capital, and property across the United States, Canada and overseas. Separately, Mr. Friedberg manages















and owns other investments and businesses through Liberty Peak Capital, Key Recovery Group, and related companies. Mr. Friedberg















is a graduate of Johns Hopkins University. He has founded and is an active board member of several community and civic organizations,















including a non-profit mentoring agency. Mr. Friedberg serves and has served on several for-profit and non-profit boards. He was















selected to serve on our board of directors due to his investment experience and his knowledge of our industry.</p>































































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><b><i>&nbsp;</i></b></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Dr.















Richard Malamut</I></B> has served as a member of our board of directors since January 2023. Dr. Malamut is currently Chief Medical















Officer at MedinCell Inc. He was most recently Chief Medical Officer and Executive Vice President at Collegium Pharmaceuticals















from April 2019 to May 2022 and&nbsp;has also served as Chief Medical Officer for Braeburn Pharmaceuticals, Inc. from 2018 to















2019 where he was responsible for the company&rsquo;s medical affairs, non-clinical and clinical&nbsp;development, clinical operations,















research and development quality assurance, and pharmacovigilance functions. Prior to that, Dr. Malamut had similar responsibilities















as&nbsp;Chief Medical Officer at Avanir Pharmaceuticals from 2016 to 2018 and was Senior Vice President of Global Clinical Development















at Teva Pharmaceutical Industries Ltd from 2013 to 2016 where he was responsible for Pain, Neuropsychiatry, Oncology, and New















Therapeutic Entities. His experience also includes roles of increasing responsibility focusing on early clinical development and















translational medicine in Neurology, Psychiatry&nbsp;and Analgesia at Bristol-Myers Squibb and AstraZeneca. Dr. Malamut earned















his medical degree from Hahnemann University in Philadelphia and completed both a residency in Neurology and a fellowship in Neuromuscular















disease. He worked as a board-certified academic and clinical neurologist for 17 years and has more than 50 publications in the















fields of pain medicine, neuromuscular disease, autonomic disease, and neurodegenerative disease. He was selected to serve on















our board of directors due to his experience and knowledge of our industry.</FONT></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Chia-Lin Simmons</I></B> has















served as a member of our board of directors since March 2023. Since June 2021, Ms. Simmons has served as Chief Executive Officer















and as a director of LogicMark, Inc. (Nasdaq: LGMK), a company that develops medical alert devices and related technologies. Ms.















Simmons currently also serves as a member of the board of directors for Servco Pacific Inc., a global automotive and consumer















goods company with businesses in mobility, automotive distribution and sales, and entertainment, and for New Energy Nexus, an















international organization that supports clean energy entrepreneurs with funds, accelerators, and networks. From 2016 to June















2021, Ms. Simmons served as the Chief Executive Officer and co-founder of LookyLoo, Inc., an artificial intelligence social commerce















company. From 2014 to 2016, Ms. Simmons served as Head of Global Partner Marketing at Google Play, prior to which, between 2010















and 2014, she served as VP of Marketing &amp; Content for Harman International. Ms. Simmons received her B.A. in Communications,















Magna cum Laude, and Phi Beta Kappa, from the University of California, San Diego in 1995. She also received her M.B.A. from Cornell















University in 2002, where she was a Park Leadership Fellow, and her J.D. from George Mason University in 2005, and is currently















a licensed attorney in the State of New York. She was selected to serve on our board of directors due to her experience serving















on the boards of directors of public companies.</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Board















Composition</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: italic bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Board















of Directors</font></p>































<p style="font: italic bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Upon completion of the IPO, our board
of directors will consist of four members. The primary responsibilities of our board of directors are to provide oversight, strategic
guidance, counseling and direction to our management. Our board of directors meets on a regular basis and additionally as required. </P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Director















Independence</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Applicable NYSE American rules require















a majority of a listed company&rsquo;s board of directors to be comprised of independent directors within one year of listing.















In addition, NYSE American rules require that, subject to specified exceptions, each member of a listed company&rsquo;s audit,















compensation and nominating and corporate governance committees be independent and that audit committee members also satisfy independence















criteria set forth in Rule&nbsp;10A-3 under the Exchange Act. The NYSE American independence definition includes a series of objective















tests, such as that the director is not, and has not been for at least three years, one of our employees and that neither the















director nor any of his family members has engaged in various types of business dealings with us. In addition, under applicable















NYSE American rules, a director will only qualify as an &ldquo;independent director&rdquo; if, in the opinion of the listed company&rsquo;s















board of directors, that person does not have a relationship that would interfere with the exercise of independent judgment in















carrying out the responsibilities of a director.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Our board of directors has determined
that all of our non-employee directors, other than Mr. Todd Davis, are independent, as defined under applicable NYSE American
rules. In making such determination, our board of directors considered the relationships that each such non-employee director
has with our company and all other facts and circumstances that our board of directors deemed relevant in determining his or her
independence, including the beneficial ownership of our capital stock by each non-employee director and the transactions involving
them described in the section entitled &ldquo;Certain Relationships and Related-Party Transactions.&rdquo; </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Audit















committee members must also satisfy the independence criteria set forth in Rule&nbsp;10A-3 under the Exchange Act. In order to















be considered independent for purposes of Rule&nbsp;10A-3 of the Exchange Act, a member of an audit committee of a listed company















may not, other than in his or her capacity as a member of the audit committee, the board of directors or any other board committee:















(i)&nbsp;accept, directly or indirectly, any consulting, advisory or other compensatory fee from the listed company or any of















its subsidiaries; or (ii)&nbsp;be an affiliated person of the listed company or any of its subsidiaries.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our















executive officers are elected by, and serve at the discretion of, our board of directors. There are no family relationships among















any of our directors and officers.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Committees















of Our Board of Directors</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-indent: 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our board of directors has an audit















committee, a compensation committee and a nominating and corporate governance committee, each of which have the composition and















responsibilities described below. Members serve on these committees until their resignation or until otherwise determined by our















board of directors. Each committee operates under a charter approved by our board of directors. Following the closing of the IPO,















copies of each committee&rsquo;s charter will be posted on the investor relations section of our website at&nbsp;<U>www.chromocell.com</U>.</P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">&nbsp;<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: italic bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Audit















Committee</font></p>































<p style="font: italic bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Our audit committee is composed of
Ezra Friedberg and Chia-Lin Simmons. Ezra Friedberg is the chairperson of our audit committee.&nbsp;The composition of our audit
committee meets the requirements for independence under the current NYSE American listing standards and SEC rules and regulations.
Each member of our audit committee is financially literate. In addition, our board of directors has determined that Ezra Friedberg
is an &ldquo;audit committee financial expert&rdquo; as defined in Item&nbsp;407(d)(5)(ii) of Regulation&nbsp;S-K promulgated
under the Securities Act. This designation does not impose any duties, obligations or liabilities that are greater than are generally
imposed on members of our audit committee and our board of directors. Our audit committee is responsible for, among other things: </P>















































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         accounting and financial reporting processes, including our financial statement audits















                                         and the integrity of our financial statements;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our















                                         compliance with legal and regulatory requirements;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing















                                         and approving related person transactions;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">selecting















                                         and hiring our registered independent public accounting firm;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         qualifications, independence and performance of our independent auditors; and</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         preparation of the audit committee report to be included in our annual proxy statement.</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Compensation















Committee</i></font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Our compensation committee is composed
of Richard Malamut and Chia-Lin Simmons. Richard Malamut&nbsp;is the chairperson of our compensation committee. The composition
of our compensation committee meets the requirements for independence under the current NYSE American listing standards and SEC
rules and regulations. Each member of this committee is: (i)&nbsp;an outside director, as defined pursuant to Section&nbsp;162(m)
of the Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;); and (ii)&nbsp;a non-employee director, as defined in
Rule&nbsp;16b-3 promulgated under the Exchange Act. Our compensation committee is responsible for, among other things: </P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">evaluating,















                                         recommending, approving and reviewing executive officer and director compensation arrangements,















                                         plans, policies and programs;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">administering















                                         our cash-based and equity-based compensation plans; and</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">making















                                         recommendations to our board of directors regarding any other board of director responsibilities















                                         relating to executive compensation.</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Nominating















and Corporate Governance Committee</i></font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our nominating and corporate governance







committee is composed of Chia-Lin Simmons and Richard Malamut. Chia-Lin Simmons&nbsp;is the chairperson of our nominating and







corporate governance committee. The composition of our nominating and corporate governance committee meets the requirements for







independence under the current NYSE American listing standards and SEC rules and regulations. Our nominating and corporate governance







committee is responsible for, among other things:</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">identifying,















                                         considering and recommending candidates for membership on our board of directors;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">overseeing















                                         the process of evaluating the performance of our board of directors; and</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">advising















                                         our board of directors on other corporate governance matters.</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Code















of Business Conduct and Ethics</FONT></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><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: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective upon the closing of the IPO,















we will adopt a Code of Business Conduct and Ethics (the &ldquo;Code of Conduct&rdquo;), applicable to all of our employees, executive















officers and directors, which will be available on our website at&nbsp;<U>www.chromocell.com</U>. The reference to our website















address in this prospectus does not include or incorporate by reference the information on our website into this prospectus. The















nominating and corporate governance committee of our board of directors will be responsible for overseeing the Code of Conduct















and must approve any waivers of the Code of Conduct for employees, executive officers and directors. In addition, we intend to















post on our website all disclosures that are required by law or the listing standards of the applicable stock exchange concerning















any amendments to, or waivers from, any provision of the Code of Conduct, to the extent required by the applicable rules and exchange















requirements.</P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-Employee















Director Compensation</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>

































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We have not implemented a formal policy
with respect to equity awards granted to our non-employee directors. From time to time, we have granted equity awards to attract
individuals to join our board of directors and for their continued service thereon. We did not pay any compensation to any of
our non-employee directors in 2022 and 2023. We plan to reimburse our directors for expenses associated with attending meetings
of our board of directors and its committees although we have not previously done so. </P>







<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 9, 2023, our board of directors approved cash compensation in the amount of $10,000.00 per quarter for all non-employee
directors who serve and will serve on the board of directors, so long as they serve on the board of directors, effective beginning
immediately following the IPO.</FONT> </P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>















































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0">&nbsp;</p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="a012_v1"></a>EXECUTIVE















COMPENSATION</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Our named executive officers for 2023 were Mr. Christian Kopfli, our former Chief Executive Officer and
former Chief Strategy Officer, Mr. Francis Knuettel II, our Interim Chief Executive Officer, Chief Financial Officer, Treasurer
and Secretary, and Mr. Eric Lang, our Chief Medical Officer. Mr. Knuettel was first appointed in June 2022, and Mr. Lang was first
appointed in May 2023. The number of equity awards issued presented below does not give effect to the 1-for-9 Reverse Stock Split
in connection with the IPO Transactions. </P>



























































































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Summary















Compensation Table</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><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: 0pt 0; text-align: justify"> The following table provides information
regarding the compensation of our named executive officers during the years ended December&nbsp;31, 2023 and 2022. </P>





























































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">















<tr style="vertical-align: bottom">















    <td style="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name
    and Principal Position</B></FONT> </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Year</B></FONT></FONT> </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Salary</B></FONT></FONT> </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Bonus</B></FONT></FONT> </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Option</B></FONT><br><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Awards</B></FONT></FONT> </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Non-Equity</B></FONT><br><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Incentive
    Plan</B></FONT><br><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Compensation</B></FONT></FONT> </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>All
    Other</B></FONT><br>
    <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Compensation</B></FONT></FONT> </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Total</B></FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td></tr>















<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="width: 28%; padding-left: 0.25in; text-indent: -9pt"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Christian
    Kopfli</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="width: 5%; text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">2023</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="width: 5%; text-align: right"><P STYLE="margin: 0pt 0"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,280</FONT></FONT> </P>


</td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(1)</SUP></FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="width: 5%; text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="width: 8%; text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">149,633</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="width: 10%; text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="width: 10%; text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="width: 8%; text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">160,913</FONT></FONT> </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td></tr>






























<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">















    <TD STYLE="padding-left: 0.375in; text-align: left; text-indent: -9pt; vertical-align: top"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Former
    Chief Executive Officer, Former Chief Strategy Officer, and Former Vice Chairman <SUP>(2)</SUP></FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">2022</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">158,654</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(1)</SUP>&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">49,578
    </FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">208,232</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td></tr>






























<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="padding-left: 9pt"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Francis
    Knuettel II</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">2023</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100,000</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">199,510
    </FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">299,510
    </FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td></tr>






























<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">















    <TD STYLE="text-align: left; padding-left: 0.25in; vertical-align: top"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Interim
    Chief Executive and Chief Financial Officer </FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">2022</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">30,000
    </FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">49,878
    </FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">79,878
    </FONT></FONT> </td>















    <td> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </td></tr>















<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 0.125in"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;Eric
    Lang<SUP>(3)</SUP></FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">2023</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&nbsp;</FONT></FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">166,767
    </FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&nbsp;</FONT></FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&nbsp;</FONT></FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">120,735
    </FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">287,502
    </FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in; vertical-align: top"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief
    Medical Officer</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">2022</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&nbsp;</FONT></FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$&nbsp;</FONT></FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">--</FONT></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></FONT> </TD></TR>
</table>















<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>































<p style="margin: 0; text-indent: 0"></p>































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">















<tr style="vertical-align: top">















    <td style="width: 0.5in; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(1)</SUP></FONT> </td>















    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
    the portion of Mr. Kopfli&rsquo;s salary attributable to his services to the Company during the years ended December 31, 2023
    and 2022.</FONT> </td></tr>















</table>















































<p style="margin: 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































































<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">







<TR STYLE="vertical-align: top">







    <TD STYLE="width: 0.5in; font-size: 10pt"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(2)</SUP></FONT></FONT> </TD>







    <TD STYLE="font-size: 10pt; text-align: justify"><P STYLE="margin: 0pt 0"> <FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Mr.
                                         Kopfli stepped down as Chief Financial Officer with the hiring of Mr. Knuettel, effective
                                         June 10, 2022. In addition, in July 2023, Mr. Knuettel assumed the role of Interim Chief
                                         Executive Officer and stepped down as Chief Strategy Officer, and Mr. Kopfli was appointed
                                         Vice Chairman and Chief Strategy Officer. On December 1, 2023, the Company terminated
                                         Mr. Kopfli as Vice Chairman and Chief Strategy Officer.</FONT></FONT> </P> </TD></TR>







</TABLE>































































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 48px"> <FONT STYLE="font-size: 10pt"><SUP>(3)</SUP></FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Represents the portion of Mr. Lang&rsquo;s
    salary attributable to his services to the Company during the year ended December 31, 2023. Mr. Lang was appointed Chief Medical
    Officer of the Company, effective May 15, 2023.</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>



<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Employment Agreements and Arrangements</b></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><u>Christian Kopfli </u></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
were a party to an amended and restated employment agreement with Christian Kopfli, dated July 28, 2023. Pursuant to such agreement,
Mr. Kopfli agreed to serve as our Vice Chairman and Chief Strategy Officer, in consideration for an annualized salary of $275,000,
payable in cash at the rate of $5,000 per month (a minimum of $1,125 per week), with the remainder accrued and paid as of the
earliest of a sale or liquidation of the Company, the Company&rsquo;s bankruptcy or three days after the approval by the Board
of a funded budget with appropriately established milestones subsequent to the effective date of a Form S-1 registration statement
(&ldquo;Post-registration Approval&rdquo;). Mr. Kopfli also agreed, as of Post-registration Approval, to resign as Chief Executive
Officer of Chromocell Corporation although he could continue to serve on the board of directors of Chromocell Corporation, including
as its Board Chair. The employment agreement provided that Mr. Kopfli receive an option to acquire 200,000 shares of our Common
Stock, vesting quarterly over 10 quarters and beginning October 1, 2022. This option shall have an exercise price equal to the
fair market value of our Common Stock on the date of grant and shall expire on the 10th anniversary of the date of grant. The
option was awarded as of January 10, 2023. The employment agreement contemplated an annual bonus, as determined by the Board.
The target bonus was 50% of Mr. Kopfli&rsquo;s annualized salary and was to be based on achievement of performance goals and objectives
agreed to by Mr. Kopfli and the Board in January of each year. The Board was to increase the bonus in recognition of performance
in excess of the performance objectives. Any bonus would have only been paid if Mr. Kopfli remained employed on the date of payment,
which would have been no later than March 15 of the year following the year to which the bonus relates. Any bonus for 2022 would
have been payable solely in the Board&rsquo;s discretion.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pursuant
to Mr. Kopfli&rsquo;s employment agreement, in the event he was involuntarily terminated by the Company other than for &ldquo;Cause&rdquo;
or if he resigns for &ldquo;Good Reason,&rdquo; he was entitled to receive (i) six months of salary at the same rate existing
immediately prior to his termination, (ii) his target bonus, if performance goals and objectives had been established for the
year and prorated for the period of service, and (iii) six months of additional vesting credit with respect to any outstanding
time-based equity awards. &ldquo;Cause&rdquo; and &ldquo;Good Reason&rdquo; are each defined in the employment agreement.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Finally,
Mr. Kopfli agreed to certain non-solicitation and non-competition provisions for a period of 12 months following termination and
to certain confidentiality obligations. Additional terms and conditions are set forth in the employment agreement.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
November 27, 2023, Mr. Kopfli was removed from our Board by our stockholders having a majority of the number of votes necessary
to take such action. Mr. Kopfli was then terminated from his position as Vice Chairman and Chief Strategy Officer by the Company
for &ldquo;Cause&rdquo;, as defined in the employment agreement, effective December 1, 2023.</FONT> </P>

<P STYLE="margin: 0pt 0">&nbsp;<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: 0pt 0; text-align: justify"><u>Camden Capital LLC</u></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We















entered into a Consultant Agreement with Camden Capital LLC, dated January 10, 2023 (the &ldquo;Consultant Agreement&rdquo;).















This Consultant Agreement replaces an agreement with Mr. Francis Knuettel II dated June 2, 2022 and pursuant to which, Camden















Capital LLC agrees to provide the services of Mr. Knuettel, who shall serve as our Chief Financial and Strategy Officer, Treasurer















and Secretary.</FONT></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under















the Consultant Agreement, Camden Capital LLC accrued a consulting fee for the period June 6, 2022 through August 31, 2022 of $10,000















per month and effective September 1, 2022, began to accrue a consulting fee of $20,000 per month, payable in cash at the rate















of $5,000 per month (a minimum of $1,125 per week), with the remainder accrued. All accrued consulting fees are payable as of















the earliest of a sale or liquidation of the Company, the Company&rsquo;s bankruptcy or three days after Post-registration Approval.















The Consultant Agreement provides for the following equity awards to Camden Capital LLC: (i) an option, awarded as of January















10, 2023, to acquire 200,000 shares of our Common Stock, vesting quarterly over 10 quarters and beginning October 1, 2022, with















the option having an exercise price equal to the fair market value of our Common Stock on the date of grant and expiring on the















10th anniversary of the date of grant; (ii) an option, awarded as of January 10, 2023, to acquire 25,000 shares of our Common















Stock, vesting 100% upon the sooner of the sale of the Company or Post-registration Approval, with the option having an exercise















price equal to the fair market value of our Common Stock on the date of grant and expiring on the 10th anniversary of the date















of grant; and (iii) a restricted stock unit (&ldquo;RSU&rdquo;), awarded as of January 10, 2023, of 150,000 shares of our Common















Stock, vesting 100% on the day after the first trading window that opens after Post-registration Approval.&nbsp;</FONT></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Consultant Agreement contemplates an additional consulting fee, as determined by the Board. The potential additional consulting















fee is 50% of the annualized consulting fee and will be based on achievement of performance goals and objectives established by















the Board in concert with Mr. Knuettel in January of each year. The Board may increase the potential additional consulting fee















in recognition of performance in excess of the performance objectives. Any amount shall only be paid if Camden Capital LLC















continues to provide consulting services to the Company as of the date of payment, which will be no later than March 15 of the















year following the year to which the additional consulting fee relates. Any additional consulting fee for 2022 is payable solely















in the Board&rsquo;s discretion.</FONT></P>































<P STYLE="margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Consultant Agreement, in the event the relationship with Camden Capital LLC is involuntarily















terminated by the Company other than for &ldquo;Cause&rdquo; or if Camden Capital LLC terminates the relationship for &ldquo;Good















Reason,&rdquo; Camden Capital LLC is entitled to receive (i) six months of consulting fees at the same rate existing immediately















prior to termination, (ii) a potential additional consulting fee, if performance goals and objectives have been established for















the year and prorated for the period of service, and (iii) six months of additional vesting credit with respect to any outstanding















time-based equity awards. &ldquo;Cause&rdquo; and &ldquo;Good Reason&rdquo; are each defined in the Consultant Agreement.</FONT></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Finally,















Camden Capital LLC and Mr. Knuettel agree to certain non-solicitation and non-competition provisions for a period of 12 months















following termination of the relationship and to certain confidentiality obligations. Additional terms and conditions are set















forth in the Consultant Agreement.</FONT></P>































<P STYLE="margin: 0pt 0; text-align: justify">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>































<P STYLE="margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 23, 2023, we amended















and restated the Consultant Agreement by entering into an Amended and Restated Consultant Agreement with Camden Capital LLC whereby















the RSU for 150,000 shares of Common Stock was cancelled, and we agreed to grant Camden Capital LLC an option to acquire 250,000















shares of Common Stock within 30 days of the closing of the IPO. As of June 23, 2023, such RSU for 150,000 shares of our Common















Stock had not vested, and no expense was recorded on the Company&rsquo;s financial statements. In addition, from and after June















1, 2023, the consulting fee will be paid in cash by the Company. No other material changes were made to the Consultant Agreement.</FONT></P>

<P STYLE="margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <U>Eric Lang</U> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We are a party to an employment agreement
with Eric Lang, effective May 15, 2023. Pursuant to such agreement, Mr. Lang agreed to serve as our Chief Medical Officer, in
consideration for an annualized salary of $400,000. The employment agreement provides that Mr. Lang receive an option to acquire
218,000 shares of our Common Stock, vesting quarterly over 12 quarters and beginning August 15, 2023. This option shall have an
exercise price equal to the fair market value of our Common Stock on the date of grant and shall expire on the 10th anniversary
of the date of grant. The option was awarded as of May 15, 2023. The employment agreement contemplates an annual bonus, as determined
by the Board. The target bonus is 50% of Mr. Lang&rsquo;s annualized salary and will be based on achievement of performance goals
and objectives determined by our Chief Executive Officer. The Chief Executive Officer may increase the bonus in recognition of
performance in excess of the performance objectives. Any bonus will be paid if Mr. Lang remains employed on the date of payment,
which will be no later than March 15 of the year following the year to which the bonus relates. In addition, the employment agreement
contemplates annual equity bonus. The Board may, in its sole discretion, and for so long as Mr. Lang remains an employee, make
an annual discretionary bonus award of an option to acquire up to 32,000 additional shares of Common Stock of the Company. Any
such option shall vest in equal increments on a quarterly basis, beginning one quarter after the date of grant, with the final
vesting date on the third anniversary of the date of grant. The option shall have an exercise price equal to the fair market value
of our Common Stock on the date of grant and shall expire on the 10th anniversary of the date of grant. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Pursuant to Mr. Lang&rsquo;s employment
agreement, in the event he is involuntarily terminated by the Company other than for &ldquo;Cause&rdquo; or if he resigns for
&ldquo;Good Reason,&rdquo; he is entitled to receive (i) six months of salary at the same rate existing immediately prior to his
termination, (ii) 50% of his annualized salary, prorated from January 1 of the year of termination and through the date of termination,
(iii) vesting of all outstanding options with time-based vesting, and (iv) coverage of 18 months of group medical, dental and/or
vision benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, if he elects to continue such benefits.
&ldquo;Cause&rdquo; and &ldquo;Good Reason&rdquo; are each defined in the employment agreement. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Finally, Mr. Lang agreed to certain
non-solicitation and non-competition provisions for a period of 12 months following termination and to certain confidentiality
obligations. Additional terms and conditions are set forth in the employment agreement. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B>&nbsp;</B> </P>



<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"></P>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equity















and Equity-Based Plans</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding















Equity Awards at Fiscal Year-End<sup></sup></font> </p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The following table provides information
regarding the outstanding equity awards of our named executive officers during the year ended December&nbsp;31, 2023. </p>































































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>















































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">







<TR STYLE="vertical-align: bottom">







    <TD STYLE="text-align: center"> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD COLSPAN="14" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Option Awards</B></FONT> </TD>







    <TD STYLE="border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD COLSPAN="11" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Stock Awards</B></FONT> </TD>







    <TD STYLE="border-bottom: black 1pt solid"> &nbsp; </TD></TR>







<TR STYLE="vertical-align: bottom">







    <TD STYLE="width: 15%; border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><B>Name and</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Principal Position</B></FONT> </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 7%; border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><B>Number of</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Securities</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Underlying</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Unexercised</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Options</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Exercisable</B></FONT> </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 7%; border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><B>Number of</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Securities</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Underlying</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Unexercised</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Options</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Unexercisable</B></FONT> </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 7%; border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><B>Equity</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Incentive</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Plan</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Awards:</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Number of</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Securities</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Underlying</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Unexercised</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Unearned</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Options</B></FONT> </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 7%; border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><B>Option</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Exercise</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Price</B></FONT> </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 7%; border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><B>Option</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Expiration</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Date</B></FONT> </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 9%; border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><B>Number</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>of</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>shares of Common Stock</B></FONT><BR>
    <BR>
    <FONT STYLE="font-size: 10pt"><B>Unvested</B></FONT> </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 7%; border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><B>Market</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Value of</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>shares of Common Stock</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Unvested</B></FONT> </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 7%; border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><B>Equity</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Incentive Plan</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Awards: Number</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>of Unearned</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Unvested</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Shares</B></FONT> </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD>







    <TD STYLE="width: 7%; border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><B>Equity</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Incentive</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Plan</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Awards:</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Market</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>or Payout</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Value of</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Unearned</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Unvested</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Shares</B></FONT> </TD>







    <TD STYLE="width: 1%; border-bottom: black 1pt solid"> &nbsp; </TD></TR>







<TR STYLE="vertical-align: bottom">







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> &nbsp; </TD>







    <TD> &nbsp; </TD></TR>







<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">







    <TD> <FONT STYLE="font-size: 10pt">Christian Kopfli</FONT><BR>
    <FONT STYLE="font-size: 10pt">Former Chief Executive Officer <SUP>(1)&nbsp;</SUP></FONT> </TD>







    <TD></TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">100,000</FONT> </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">100,000</FONT> </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">---</FONT> </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD> <FONT STYLE="font-size: 10pt">$ </FONT> </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">2.52</FONT> </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">09/30/2032</FONT> </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">---</FONT> </TD>







    <TD> &nbsp; </TD>







    <TD> <FONT STYLE="font-size: 10pt">$ </FONT> </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">---</FONT> </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">---</FONT> </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD> <FONT STYLE="font-size: 10pt">$ </FONT> </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">---</FONT> </TD>







    <TD> &nbsp; </TD></TR>







<TR STYLE="vertical-align: bottom; background-color: White">







    <TD> <FONT STYLE="font-size: 10pt">Francis Knuettel II, Interim Chief Executive Officer and Chief Financial Officer </FONT> </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">100,000</FONT> </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">375,000</FONT> </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">---</FONT> </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD> <FONT STYLE="font-size: 10pt">$ </FONT> </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">2.52</FONT> </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">09/30/2032</FONT> </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">---</FONT> </TD>







    <TD> &nbsp; </TD>







    <TD> <FONT STYLE="font-size: 10pt">$ </FONT> </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">---</FONT> </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">---</FONT> </TD>







    <TD> &nbsp; </TD>







    <TD> &nbsp; </TD>







    <TD> <FONT STYLE="font-size: 10pt">$ </FONT> </TD>







    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">---</FONT> </TD>







    <TD> &nbsp; </TD></TR>







<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> Eric Lang, Chief Medical Officer </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> 36,333 </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> 181,667 </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> --- </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> $ </TD>
    <TD STYLE="text-align: right"> 2.52 </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> 05/15/2033 </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> --- </TD>
    <TD> &nbsp; </TD>
    <TD> $ </TD>
    <TD STYLE="text-align: right"> --- </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> --- </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> $ </TD>
    <TD STYLE="text-align: right"> --- </TD>
    <TD> &nbsp; </TD></TR>
</TABLE>































































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>



























<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(1)</SUP>&nbsp;</FONT> </TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
                                         Kopfli stepped down as Chief Financial Officer with the hiring of Mr. Knuettel, effective
                                         June 10, 2022. In addition, in July 2023, Mr. Knuettel assumed the role of Interim Chief
                                         Executive Officer and stepped down as Chief Strategy Officer, and Mr. Kopfli was appointed
                                         Vice Chairman and Chief Strategy Officer. On December 1, 2023, the Company terminated
                                         Mr. Kopfli as Vice Chairman and Chief Strategy Officer.</FONT> </TD></TR></TABLE>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"></p>































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<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0">&nbsp;</p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equity















Incentive Plans</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>The Chromocell Therapeutics Corporation 2023 Equity















Incentive Plan (the &ldquo;2023 Plan&rdquo;)</i></b></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">On
January 10, 2023, our board of directors adopted and submitted for stockholder approval the 2023 Plan, which 2023 Plan was later
approved by the Company&rsquo;s stockholders. Prior to the effective date of the registration statement of which this prospectus
forms a part, we will amend the 2023 Plan, and submit such amendment for stockholder approval, to increase the number of shares
available for issuance thereunder to 444,444 (after giving effect to the Reverse Stock Split). The following summary of the material
features of the 2023 Plan is qualified in its entirety by reference to the complete text of the 2023 Plan, a copy of which is
filed with the registration statement of which this prospectus forms a part. The 2023 Plan will terminate on January 10, 2033,
in accordance with its terms, although, awards outstanding under the 2023 Plan will continue to be governed by their existing
terms after the 2023 Plan&rsquo;s expiration.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Share
Reserve</I>. Upon consummation of the IPO, we will have reserved 444,444 shares of our Common Stock for issuance under the 2023
Plan (after giving effect to the 1-for-9 Reverse Stock Split in connection with the IPO Transactions). Unissued shares of Common
Stock subject to awards that fail to settle, vest or be fully exercised prior to expiration or other termination shall again become
available for grant under the terms of the 2023 Plan.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Administration</I>. Our board of















directors currently administers the 2023 Plan. Following the IPO, it is intended that the compensation committee of our board















of directors will administer the 2023 Plan. The administrator has complete discretion to make all decisions relating to the 2023















Plan and outstanding awards.</P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <i>Eligibility. </i>Key employees,















non-employee members of our board of directors and other persons who render services of special importance to our management,















operation or development are eligible to participate in the 2023 Plan. </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <i>Types of Awards</i>. The 2023 Plan















provides for the following types of awards granted with respect to shares of our Common Stock: </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in">&#9679;</td><TD STYLE="text-align: justify">incentive and nonqualified stock options to purchase















                                         shares of our Common Stock;</td></tr></table>































<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify">&#9679;</td><TD STYLE="text-align: justify">stock appreciation rights, whether settled in cash















                                         or our Common Stock;</td></tr></table>































<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify">&#9679;</td><TD STYLE="text-align: justify">direct awards or sales of shares of our Common Stock,















                                         with or without restrictions; and</td></tr></table>































<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify">&#9679;</td><TD STYLE="text-align: justify">restricted stock units.</td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The recipient















of an award under the 2023 Plan is referred to as a participant.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Options</i>. The administrator may















grant incentive stock options (ISOs) and nonqualified stock options (NSOs) under the 2023 Plan. The administrator determines the















number of shares of our Common Stock subject to each option, its exercise price, its duration and the manner and time of exercise;















provided, however, that no option may be issued under the 2023 Plan with an exercise price that is less than the fair market value















of our Common Stock as of the date the option is granted, and no option issued as an ISO will have a duration that exceeds ten















years. ISOs may be issued only to our employees or employees of our corporate subsidiaries, and in the case of a more than ten















percent stockholder, must have an exercise price that is at least 110% of the fair market value of our Common Stock as of the















date the option is granted, and may not have a duration of more than five years.</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The administrator,















in its discretion, may provide that any option is subject to vesting limitations that make it exercisable during its entire duration















or during any lesser period of time.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The exercise















price of an option may be paid in cash, by delivery of a recourse promissory note secured by the Common Stock acquired upon exercise















of the option (except that such a loan would not be available to any of our executive officers or directors), by means of a &ldquo;cashless















exercise&rdquo; procedure in which a broker transmits to us the exercise price in cash, either as a margin loan or against the















optionee&rsquo;s notice of exercise and confirmation by us that we will issue and deliver to the broker stock certificates for















that number of shares of Common Stock having an aggregate fair market value equal to the exercise price, or agrees to pay the















exercise price to us in cash upon our receipt of stock certificates, by delivery of shares of our Common Stock already owned by















the optionee, by a &ldquo;net exercise&rdquo; in the case of an NSO or by any combination of the methods listed.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Stock Appreciation Rights (SARs)</i>.















The administrator may also grant SARs to participants on such terms and conditions as it may determine. SARs may be granted separately















or in connection with an option. No SAR may be issued under the 2023 Plan with an exercise price that is less than the Fair Market















Value of our Common Stock as of the date the SAR is granted, and no SAR will have a duration that exceeds ten years. Upon the















exercise of an SAR, the participant is entitled to receive payment equal to the excess of the fair market value, on the date of















exercise, of the number of shares of Common Stock for which the SAR is exercised over the exercise price for the Common Stock















under a related option or, if there is not a related option, over an amount per share stated in the agreement setting forth the















terms and conditions of the SAR.</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Payment to the















participant may be made in cash or other property, including Common Stock, in accordance with the provisions of the SAR agreement.</p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><i>Stock Grants</i>.















The administrator may make an award in one or more of the following forms of stock grant. Stock grants (including restricted stock















units and performance units after settlement) generally will provide the participant with all of the rights of a stockholder of















ours, including the right to vote and to receive payment of dividends.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><i>Stock grant















without restriction</i>. The administrator may make a stock grant without any restrictions.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Restricted















stock and restricted stock units (&ldquo;RSUs&rdquo;)</i>. The administrator may issue shares of our Common Stock with restrictions















determined by the administrator in its discretion. Restrictions could include conditions that require the participant to forfeit















the shares in the event that the participant ceases to provide services to us or any of our affiliates thereof before a stated















time. RSUs are similar to restricted stock except that no shares are actually issued to the participant on the RSU grant date.















Rather, and provided all applicable restrictions are satisfied, shares of Common Stock are generally delivered at settlement of















the award. The period of restriction, the number of shares of restricted stock or the number of RSUs granted, the purchase price,















if any, and such other conditions and/or restrictions as the administrator may establish will be set forth in an award agreement.















Participants holding RSUs will not have voting rights or other rights as a stockholder until any shares related to the RSU are















issued. After all conditions and restrictions applicable to restricted shares and/or RSUs have been satisfied or have lapsed,















shares of restricted stock will become freely transferable and RSUs may be settled in cash, in shares of our Common Stock or in















some combination of cash and shares of our Common Stock, as determined by the administrator and stated in the award agreement.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Performance















shares and performance share units (&ldquo;PSUs&rdquo;)</i>. With respect to an award of performance shares and/or PSUs, the administrator















will establish performance periods and performance goals. The extent to which a participant achieves their performance goals during















the applicable performance period will determine the value and/or the number of performance shares and/or PSUs earned by such















participant. Payment of earned performance shares and/or PSUs will be in cash, shares of our Common Stock or some combination















of cash and shares of our Common Stock, as determined by the administrator and stated in the award agreement.</font> </p>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Other awards</i>. The administrator















may issue other types of equity-based or equity-related awards under the 2023 Plan, on such terms and conditions as the administrator















shall determine in its discretion.</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><i>Dividends</i>.















Participants holding restricted stock and performance shares will be entitled to receive dividends on our shares, provided that















in the discretion of the administrator, participants will not be entitled to dividends with respect to unvested restricted stock















and performance shares until the stock or shares vest, respectively. Dividend equivalent units may, but are not required to, be















issued with respect to RSUs or PSUs and may be paid in cash, additional shares of our Common Stock or a combination on the date















the shares are delivered, all as determined by the administrator and stated in the award agreement.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><i>Effect of















certain corporate transactions</i>. In the event of a stock split, reverse stock split, stock dividend, recapitalization, combination















of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any dividend or distribution















on our Common Stock other than an ordinary cash dividend, the administrator shall make equitable adjustments to awards as it,















in its sole discretion, deems appropriate. In the case of (1) a merger or consolidation of the Company with or into another entity















pursuant to which all of our Common Stock is cancelled or converted into or exchanged for the right to receive cash, securities















or other property, (2) any transfer or disposition of all of our Common Stock for cash, securities or other property pursuant















to a share exchange or other transaction, (3) the sale or other disposition of all or substantially all of the Company&rsquo;s















assets or (4) any liquidation or dissolution of the Company, the administrator may take any of a number of actions including providing















for the assumption of awards, the termination of awards (with advance notice permitting exercise), Awards to become exercisable















at or prior to the event, the liquidation of awards or any combination of the foregoing.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Amendments to the 2023 Plan</I>.















Our board of directors may amend, suspend or terminate the 2023 Plan in whole or in part at any time provided that stockholder















approval shall be required to the extent necessary under the rules applicable to ISOs or under NYSE American or other applicable















securities exchange rules.</P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The administrator may, without stockholder















approval, amend the 2023 Plan as necessary to enable awards to qualify for favorable foreign tax, securities or other treatment















in the case of a participant who is subject to a jurisdiction outside the United States.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Amendments or Termination</i>. The















administrator may at any time amend, suspect or terminate the 2023 Plan, subject to stockholder approval in the case of an amendment















if the amendment increases the number of shares available for issuance or materially changes the class of persons eligible to















receive incentive stock options. The 2023 Plan will terminate automatically ten years after the later of the date when our board















of directors adopts the plan or the date when our board of directors most recently approved an increase in the number of shares















of Common Stock reserved thereunder which was also approved by our stockholders, and as noted above, any awards outstanding under















the 2023 Plan upon termination will remain outstanding and will continue to be governed by their existing terms.</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On January 10, 2023, pursuant to the
2023 Plan, we granted: (a) options to purchase up to an aggregate of 1,275,000 shares of Common Stock to employees and directors
and (b) 150,000 RSUs to employees. On March 9, 2023, pursuant to the 2023 Plan, we granted an option to purchase up to 135,000
shares of Common Stock to a director. On June 23, 2023, we granted options to acquire 468,000 shares of Common Stock to employees
(inclusive of options that have not yet been granted but the Company has agreed to grant in connection with the closing of IPO)
and canceled an RSU for 150,000 shares issued to an employee on January 10, 2023. The number of equity awards in the preceding
sentences does not give effect to the 1-for-9 Reverse Stock Split in connection with the IPO Transactions. </P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The offers and sales of the above securities















were deemed to be exempt from registration under the Securities Act in reliance upon Section 4(a)(2) of the Securities Act or















Regulation D promulgated thereunder, or Rule 701 promulgated under Section 3(b) of the Securities Act, as transactions by an issuer















not involving any public offering or pursuant to benefit plans and contracts relating to compensation as provided under Rule 701.















The recipients of the above securities represented their intentions to acquire the securities for investment only and not with















a view to or for sale in connection with any distribution thereof. </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limitations















on Liability and Indemnification Matters</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon the closing of the IPO, our amended















and restated certificate of incorporation will contain provisions that limit the liability of our current and former directors















for monetary damages to the fullest extent permitted by Delaware law. Delaware law provides that directors of a corporation will















not be personally liable for monetary damages for any breach of fiduciary duties as directors, except liability for:</P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">any















                                         breach of the director&rsquo;s duty of loyalty to the corporation or its stockholders;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">any















                                         act or omission not in good faith or that involves intentional misconduct or a knowing















                                         violation of law;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">unlawful















                                         payments of dividends or unlawful stock repurchases or redemptions as provided in Section















                                         174 of the DGCL; or</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">any















                                         transaction from which the director derived an improper personal benefit.</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These















limitations of liability do not apply to liabilities arising under federal securities laws and does not affect the availability















of equitable remedies such as injunctive relief or rescission.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our amended and restated certificate















of incorporation and our bylaws that will be in effect upon the closing of the IPO will provide that we are required to indemnify















our directors to the fullest extent permitted by Delaware law. Our bylaws will also provide that, upon satisfaction of certain















conditions, we are required to advance expenses incurred by a director in advance of the final disposition of any action or proceeding,















and permit us to secure insurance on behalf of any officer, director, employee or other agent for any liability arising out of















his or her actions in that capacity regardless of whether we would otherwise be permitted to indemnify him or her under the provisions















of Delaware law. Our bylaws will also provide our board of directors with discretion to indemnify our officers and employees when















determined appropriate by the board.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have entered into indemnification



agreements with each of our executive officers and directors. With certain exceptions, these agreements provide for indemnification



for related expenses including, among other things, attorneys&rsquo; fees, judgments, fines and settlement amounts incurred by



any of these individuals in any action or proceeding. We believe that these bylaw provisions and indemnification agreements are



necessary to attract and retain qualified persons as directors and executive officers. We also maintain customary directors&rsquo;



and officers&rsquo; liability insurance.</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>















































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















limitation of liability and indemnification provisions in our amended and restated certificate of incorporation and bylaws may















discourage stockholders from bringing a lawsuit against our directors for breach of their fiduciary duty. They may also reduce















the likelihood of derivative litigation against our directors and officers, even though an action, if successful, might benefit















us and other stockholders. Further, a stockholder&rsquo;s investment may be adversely affected to the extent that we pay the costs















of settlement and damage awards against directors and officers as required by these indemnification provisions. At present, there















is no pending litigation or proceeding involving any of our directors, officers or employees for which indemnification is sought















and we are not aware of any threatened litigation that may result in claims for indemnification.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insofar















as indemnification for liabilities arising under the Securities Act may be permitted for our directors, executive officers or















persons controlling us, we have been informed that, in the opinion of the SEC, such indemnification is against public policy as















expressed in the Securities Act and is therefore unenforceable.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rule&nbsp;10b5-1&nbsp;Sales















Plans</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our directors and executive officers



may adopt written plans, known as&nbsp;Rule&nbsp;10b5-1&nbsp;plans, in which they will contract with a broker to buy or sell shares



of our Common Stock on a periodic basis. Under a&nbsp;Rule&nbsp;10b5-1&nbsp;plan, a broker executes trades pursuant to parameters



established by the director or officer when entering into the plan, without further direction from them. The director or officer



may amend a&nbsp;Rule&nbsp;10b5-1&nbsp;plan in some circumstances and may terminate a plan at any time. Our directors and executive



officers also may buy or sell additional shares outside of a&nbsp;Rule&nbsp;10b5-1&nbsp;plan when they are not in possession of



material nonpublic information subject to compliance with the terms of our insider trading policy. Prior to 180&nbsp;days after



the effective date of the registration statement of which this prospectus forms a part, subject to early termination, the sale



of any shares under such plans would be prohibited by the&nbsp;lock-up&nbsp;agreement that the director or officer has entered



into with the underwriters.</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>















































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<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0">&nbsp;</p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="a013_v1"></a>CERTAIN















RELATIONSHIPS AND RELATED PARTY AND OTHER TRANSACTIONS</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">The following is a summary of transactions















among related parties that occurred since the Company&rsquo;s incorporation, and any ongoing related party relationships:</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In















May 2021, Chromocell Holdings, the Company and Flamands International Holdings LLC (&ldquo;Flamands&rdquo;) commenced negotiations















regarding a three-party agreement whereby Chromocell Holdings would spin off assets and liabilities associated with its therapeutics















operations to the Company and Flamands would provide funding to the Company.  As the parties contemplated various















transactional structures, an agreement was never effectuated because significant details concerning the assumption of liabilities















were never finalized. Chromocell Holdings instead provided multiple advances to the Company for its operations from May 2021















through August 2022. At December 31, 2021, all amounts previously received from Chromocell Holdings by the Company were















recorded as advances payable on the Company&rsquo;s financial statements.</font> </p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On August 10, 2022, the Company and















Chromocell Holdings entered into the Contribution Agreement effecting (1) the contribution by Chromocell Holdings to the Company















of assets related to Chromocell Holding&rsquo;s Therapeutics Business, including all intellectual property related to Chromocell















Holding&rsquo;s NaV1.7 program and its clinical-stage CC8464 lead compound, (2) assumption by the Company of direct liabilities















related to Chromocell Holding&rsquo;s historical Therapeutics Business in the amount of $1,556,323 as well as a cash payment by















the Company to Chromocell Holdings of $597,038 &nbsp;within three business days of the closing of the IPO and (3) the issuance















by the Company to Chromocell Holdings of 10,000,000 shares of its common stock and 600,000 shares of its Series A Preferred Stock. </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>







































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On August 2, 2023, we entered into
the Holdings Side Letter to the Contribution Agreement. Pursuant to the Holdings Side Letter, upon closing of the IPO: (a) Chromocell
Holdings will re-assume all $1.6 million in direct liabilities previously assumed by the Company in accordance with the Contribution
Agreement, (b) Chromocell Holdings will waive the Company&rsquo;s obligations to make a cash payment in the amount of $0.6 million
to Chromocell Holdings, and (c) in consideration thereof, we will issue to Chromocell Holdings 2,600 shares of Series C Preferred
Stock. </P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On April 17, 2023, Chromocell Holdings
forfeited 1,203,704 shares of Common Stock (133,745 shares of Common Stock after giving effect to the Reverse Stock Split) as
Chromocell Holdings did not fund its pro rata allocation in the April Bridge Financing, per the terms governing the April Bridge
Financing. </P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On December 6, 2022, the Company and
Mr. Todd Davis, one of our directors, entered into the Director Note with a face amount of $175,000 and purchase price of $100,000.
The Director Note matures on December 31, 2023 or, if earlier to occur, upon the closing of an underwritten offering of securities
resulting in at least $15 million in gross proceeds. Mr. Davis, as lender, has the right but not the obligation to subscribe to
the underwritten offering by presenting the Director Note in whole or in part to purchase such securities as legal tender therefor,
on a dollar-for-dollar basis based upon the offering price of such securities to the public. The Director Note bears no interest
except in the case of certain events of default. On December 28, 2023, we entered into an amendment to the Director Note, which
extended the maturity date to February 29, 2024. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On April 17, 2023, we entered into
a April Bridge Financing for working capital purposes with various accredited investors, all of whom are pre-existing stockholders,
including Chromocell Holdings, Boswell Prayer Ltd., Motif Pharmaceuticals Ltd, Aperture Healthcare Ventures Ltd., MDB Merchants
Park LLC, Balmoral Financial Group LLC and AME EQUITIES LLC (each a related party based on share ownership in excess of 5% or
resulting from a principal at one of the entities being on the Company&rsquo;s board of directors) in the aggregate principal
amount of $393,808. During the nine months ended September 30, 2023, the Company received $166,903 in Advances from certain participating
investors. Such Advances accrued interest at a rate of eight percent (8%) per annum until close of the April Bridge Financing
on April 17, 2023, for a total of $1,870 in aggregate interest on all Advances during the nine months ended September 30, 2023. The
April Bridge Financing consists of senior secured convertible notes that had a maturity date of October 17, 2023. On October 12,
2023, we entered into a first amendment to the senior secured convertible notes in the April Bridge Financing, which extended
the maturity of the notes to November 1, 2023. On October 24, 2023, we entered into a second amendment to the senior secured convertible
notes in the April Bridge Financing, which extended the maturity of the notes to November 14, 2023. On November 13, 2023, we entered
into a third amendment to the senior secured convertible notes in the April Bridge Financing, which further extended the maturity
of the notes to February 29, 2024. Such notes accrue interest on the unpaid principal amount at a rate of eight percent (8%) per
annum and will automatically convert into shares of Common Stock at the IPO at a twenty percent (20%) discount to the price per
IPO Share (87,643 shares, assuming an initial public offering price of $6.00 per IPO Share, the midpoint of the price range set forth on
the cover page of the IPO Prospectus, and including interests calculated to and through January 31, 2024). </P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On September 1, 2023, we entered into
the September Bridge Financing with various accredited investors, certain of which are pre-existing stockholders, including Aperture
Healthcare Ventures Ltd., MDB Merchants Park LLC, Balmoral Financial Group LLC and AME EQUITIES LLC (each a related party based
on share ownership in excess of 5% or resulting from a principal at one of the entities being on the Company&rsquo;s board of
directors) in the aggregate principal amount of $198,128. The September Bridge Financing consists of senior secured convertible
notes that have a maturity date of March 1, 2024. Such notes accrue interest on the unpaid principal amount at a rate of eight
percent (8%) per annum and will automatically convert into shares of Common Stock in connection with the IPO at a twenty percent
(20%) discount to the price per IPO Share plus 551 Bonus Shares (87,643 shares, assuming an initial public offering price of $6.00
per IPO Share, the midpoint of the price range set forth on the cover page of the IPO Prospectus). The senior secured convertible notes
issued in the September Bridge Financing are secured by a security interest in all of our assets (including our patents and intellectual
property licenses). In connection with the September Bridge Financing, on September 1, 2023, we also entered into a securities
purchase agreement with holders of the notes, pursuant to which we are required to file a registration statement within 180 calendar
days after consummation of the IPO, providing for the resale of Common Stock received by holders of the notes upon conversion
of such notes. Additionally, entered into a subordination and intercreditor agreement, effective September 1, 2023, with the holders
of the senior secured convertible notes issued in the April Bridge Financing, pursuant to which those notes and certain liens
of the Company would be subordinated to the rights of the holders of the notes issued in the September Bridge Financing. </P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">On
October 12, 2023, we and four existing investors entered into the October Promissory Notes with an aggregate face amount of $210,000
and an aggregate purchase price of $175,000. The October Promissory Notes mature on November 12, 2023 or, if earlier to occur,
upon the closing of this offering. The October Promissory Notes bear no interest except in the case of certain events of default.&nbsp;On
November 7, 2023, we amended and restated the October Promissory Notes to extend the maturity dates of the October Promissory
Notes to November 17, 2023. On November 13, 2023, we amended and restated the October Promissory Notes to further extend the maturity
dates of the Promissory Notes to February 29, 2024.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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: 0pt 0; text-align: justify"> On November 22, 2023, we commenced the Rights Offering pursuant to which we distributed Subscription Rights
to each holder of our Common Stock held as of the Rights Offering Record Date. The Subscription Rights expired at 5:00 p.m., Eastern
Standard Time, on December 1, 2023. The Subscription Rights were offered to all of our pre-existing stockholders, including Aperture
Healthcare Ventures Ltd., MDB Merchants Park LLC, Balmoral Financial Group LLC and AME EQUITIES LLC (each a related party based
on share ownership in excess of 5%, or resulting from a principal at one of the entities being on the Company&rsquo;s board of
directors), and each participated and exercised their Subscription Rights to purchase an aggregate of 10,902,036 shares of Common
Stock at the Subscription Price. In addition, we distributed to Mr. Knuettel, our Interim Chief Executive Officer and Chief Financial
Officer, and Mrs. Lara Knuettel c/o The Lara H. Knuettel Revocable Trust, a trust for which Mr. Knuettel and his wife are co-trustees
(the &ldquo;Knuettel Trust&rdquo;), and at no charge to them, additional non-transferable Subscription Rights to purchase up to
an aggregate 1,428,571 shares of our Common Stock in the Rights Offering at the same Subscription Price. On December 27, 2023,
the Knuettel Trust made a charitable donation of 250,000 of those shares (prior to giving effect to the Reverse Stock Split) to
Temple Israel of the City of New York. Also on December 27, 2023, AME EQUITIES LLC made a charitable donation of 790,000 of its
shares (prior to giving effect to the Reverse Stock Split) to Ballantyne Jewish Center, Inc. Upon the closing of the Rights Offering,
we issued an aggregate of 22,732,336 shares (2,525,815 shares, after giving effect to the Reverse Stock Split) of our Common Stock
and received aggregate net proceeds of $254,602, which we intend to use primarily for general corporate purposes and expenses associated
with our initial public offering. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On December 23, 2023, we entered into
the Benuvia License Agreement for the Spray Formulations, diversifying our pipeline of non-opioid pain treatment therapies, while
adding therapeutic options for related conditions. The Diclofenac Spray Formulation is patented and has started clinical development
in human volunteers. Preliminary pharmacokinetics suggest that this formulation may have a faster onset of action than oral Diclofenac
tablets. Diclofenac is an NSAID that is also marketed under additional brand names including Voltaren and Cataflam in its pill
form. Rizatriptan, whose brand name is Maxalt, is used for the acute treatment of Migraines as a pill. By a number of clinical
measures it is thought to be superior to Sumatriptan. A sublingual formulation of Rizatriptan may potentially have a faster onset
of action than an oral form and may be easier to tolerate than swallowing a pill when patients are experiencing nausea as a result
of the migraine headache. Ondansetron is an anti-emetic that is available in oral and intravenous form. An Ondansetron sublingual
spray formulation may potentially have a faster onset of action than an oral form and may be easier to tolerate than swallowing
a pill when patients are experiencing nausea. Under the terms of the Benuvia License Agreement, Benuvia will be responsible for
the manufacturing and supply of the Spray Formulations, but we will have exclusive, worldwide rights to develop, commercialize
and distribute the Spray Formulations. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> In connection with the Benuvia License
Agreement, we agreed to pay Benuvia a six and one-half percent (6.5%) royalty on net sales of the Spray Formulations for a period
of up to 15 years from the date of the first commercial sale of any of the Spray Formulations. In addition, on December 23, 2023,
we entered into the Benuvia Stock Issuance Agreement pursuant to which we issued to Benuvia 3,458,033 shares (384,226 shares,
after giving effect to the Reverse Stock Split) of our Common Stock, which may be offered and sold pursuant to the Resale Prospectus.
Mr. Davis, one of our directors, serves as the Chairman and Chief Executive Officer of Benuvia Holdings, LLC, which is the ultimate
parent company of Benuvia. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Review, Approval or Ratification of















Transactions with Related Parties</B></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the IPO, we adopted















a written related-person transactions policy that provides that our executive officers, directors, nominees for election as a















director, beneficial owners of more than 5% of our Common Stock and any members of the immediate family of the foregoing persons,















are not permitted to enter into a material related-person transaction with us without the review and approval of our audit committee,















or a committee composed solely of independent directors in the event it is inappropriate for our audit committee to review such















transaction due to a conflict of interest. The policy provides that any request for us to enter into a transaction with an executive















officer, director, nominee for election as a director, beneficial owner of more than 5% of our Common Stock or with any of their















immediate family members or affiliates, in which the amount involved exceeds the lesser of (i) $120,000 or (ii) one percent of















the average of the Company&rsquo;s total assets at year-end for the last two completed fiscal years will be presented to our audit















committee for review, consideration and approval. In approving or rejecting any such proposal, we expect that our audit committee















will consider the relevant facts and circumstances available and deemed relevant to the audit committee, including, but not limited















to, whether the transaction is on terms no less favorable than terms generally available to an unaffiliated third party under















the same or similar circumstances and the extent of the related person&rsquo;s interest in the transaction.</P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>















































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<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0">&nbsp;</p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="a014_v1"></a>PRINCIPAL















STOCKHOLDERS</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The following table sets forth information
regarding beneficial ownership of our voting securities as of January 16, 2024, by: </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </td><TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">each
                                         person or group of affiliated persons known by us to be the beneficial owner of more
                                         than 5% of our Common Stock;</FONT> </td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">each















                                         of our named executive officers;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">each















                                         of our directors; and</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">all















                                         of our executive officers and directors as a group.</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We have determined beneficial ownership
in accordance with the rules of the SEC and the information is not necessarily indicative of beneficial ownership for any other
purpose. Unless otherwise indicated below, to our knowledge, the persons and entities named in the table have sole voting and
sole investment power with respect to all shares of Common Stock that they beneficially own, subject to community property laws
where applicable. In computing the number of shares of our Common Stock beneficially owned by a person and the percentage ownership
of that person, we deemed outstanding shares of our Common Stock subject to convertible securities, options or warrants held by
that person that are currently convertible or exercisable or convertible or exercisable within 60&nbsp;days of January 16, 2024.
We did not deem these shares outstanding, however, for the purpose of computing the percentage ownership of any other person. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Percentage computations prior to the
IPO are based on approximately 4,578,333&nbsp;shares of our Common Stock outstanding as of January 16, 2024 (after giving effect
to the IPO Transactions and the issuance of the November Leak-Out Shares not yet issued as of January 16, 2024). Percentage computations
after the IPO are based on approximately 5,617,007 shares of our Common Stock outstanding immediately following the IPO, and assume
no exercise of the Underwriter&rsquo;s option to purchase additional IPO Shares. Beneficial ownership representing less than 1%
is denoted with an asterisk (*). </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unless otherwise indicated, the address of each

beneficial owner listed on the table below is c/o Chromocell Therapeutics Corporation, 4400 Route 9 South, Suite 1000, Freehold,

NJ 07728.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Shares&nbsp;Beneficially&nbsp;Owned</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Prior to the IPO</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Shares&nbsp;Beneficially&nbsp;</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Owned After&nbsp;the IPO</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Common Stock</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Common Stock</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Name of Beneficial Owner</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Number</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Percentage</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Number</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Percentage</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%"> <FONT STYLE="font-size: 10pt"><B>Named Executive Officers and Directors</B></FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 10%; text-align: right"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 10%; text-align: right"> &nbsp; </TD>
    <TD STYLE="width: 2%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 8%; text-align: right"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 10%; text-align: right"> &nbsp; </TD>
    <TD STYLE="width: 2%"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 10pt">Francis Knuettel II<SUP>(1)</SUP></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">174,847</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">3.8</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">174,847</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">3.1</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-size: 10pt">Ezra Friedberg<SUP>(2)</SUP></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">527,298</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">11.5</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">527,298</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">9.4</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 10pt">Todd Davis<SUP>(3)</SUP></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">42,503</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">42,503</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-size: 10pt">Richard Malamut<SUP>(4)</SUP></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">6,668</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">6,668</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 10pt">Chia-Lin Simmons<SUP>(5)</SUP></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">6,668</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">6,668</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-size: 10pt">Eric Lang<SUP>(6)</SUP>&nbsp;</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">5,592</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">5,592</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">*</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 10pt"><B>All executive officers and directors as a group (6 persons)</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><B>736,576</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><B>16.7</B></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><B>%</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><B>736,576</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt"><B>13.6</B></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><B>%</B></FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 10pt"><B>5% Stockholders</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-size: 10pt">Chromocell Corporation<SUP>(7)</SUP></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">1,093,806</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">23.9</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">1,093,806</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">19.5</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 10pt">Boswell Prayer Ltd<SUP>(8)</SUP></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">471,542</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">10.3</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">471,542</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">8.4</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-size: 10pt">Motif Pharmaceuticals Ltd.<SUP>(9)</SUP></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">483,351</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">10.6</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">483,351</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">8.6</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 10pt">Balmoral Financial Group LLC<SUP>(10)</SUP></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">520,630</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">11.4</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">520,630</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">9.3</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-size: 10pt">AME Equities LLC<SUP>(11)</SUP></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">369,099</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">8.1</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">369,099</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">6.6</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 10pt">Aperture Healthcare Ventures Ltd.<SUP>(12)</SUP></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">443,995</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">9.7</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">443,995</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">7.9</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-size: 10pt">MDB Merchants Park LLC<SUP>(13)</SUP></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">273,671</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">6.0</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">273,671</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">4.9</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-size: 10pt">Benuvia Operations, LLC<SUP>(14)</SUP></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">384,226</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">8.4</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">384,226</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">6.8</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <SUP>(1)&nbsp;</SUP>For Mr. Knuettel,
includes&nbsp;13,338 shares of Common Stock underlying stock options that are currently exercisable or exercisable within 60 days
of January 16, 2024 and, immediately following the IPO, includes an additional 2,778 shares of Common Stock underlying stock options
exercisable upon the closing of the IPO and 27,778 shares of Common Stock underlying stock options that will be issued and will
become exercisable within 30 days of the close of the IPO. All reported securities are held of record by Camden Capital LLC (&ldquo;Camden&rdquo;).
Mr. Knuettel serves as Managing Member of Camden and, accordingly, may be deemed to beneficially own the shares of Common Stock
owned directly by Camden. Mr. Knuettel has sole voting and dispositive power over such shares of Common Stock issuable to Camden. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <SUP>(2)&nbsp;</SUP>For Mr. Friedberg,
includes 6,668 shares of Common Stock underlying stock options that are currently exercisable or exercisable within 60 days of
January 16, 2024. In addition, Mr. Friedberg serves as a manager of Balmoral Financial Group LLC (&ldquo;Balmoral&rdquo;) and,
accordingly, may also be deemed to beneficially own the shares of Common Stock held by Balmoral. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <SUP>(3)&nbsp;</SUP>For Mr. Davis,
includes 13,336 shares of Common Stock underlying stock options that are currently exercisable or exercisable within 60 days of&nbsp;January
16, 2024 and, immediately following the IPO, includes an additional&nbsp;29,167 shares of Common Stock issued in the IPO in full
satisfaction of the Company&rsquo;s obligations under the Director Note. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <SUP>(4)&nbsp;</SUP>For Mr. Malamut,
includes 6,668 shares of Common Stock underlying stock options that are currently exercisable or exercisable within 60 days of
January 16, 2024. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <SUP>(5)&nbsp;</SUP>For Ms. Simmons,
includes 6,668 shares of Common Stock underlying stock options that are currently exercisable or exercisable within 60 days of
January 16, 2024. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <SUP>(6)&nbsp;</SUP>For Mr. Lang, includes
5,592 shares of Common Stock underlying stock options that are currently exercisable or exercisable within 60 days of January
16, 2024. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <SUP>(7)&nbsp;</SUP>For Chromocell
Corporation, the shares of Common Stock beneficially owned includes 346,667 shares of Common Stock issuable upon the conversion
of 2,600 shares of Series C Preferred Stock at $7.50 per share, or 125% of the price per IPO Share, assuming a price per IPO Share
of $6.00, the midpoint of the price range set forth on the cover page of the IPO Prospectus. Christian Kopfli has sole voting
and dispositive power over the shares held by Chromocell Corporation. The principal executive office of Chromocell Corporation
is 685 US Highway One, North Brunswick, NJ 08902. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <SUP>(8)&nbsp;</SUP>Rochelle Gross
has sole voting and dispositive power over the shares held by Boswell Prayer Ltd. The principal executive office of Boswell Prayer
Ltd. is 145 Adelaide Street West, Toronto ON M5H 4E5, Canada. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <SUP>(9)&nbsp;</SUP>Zachary Klein has
sole voting and dispositive power over the shares held by Motif Pharmaceuticals Ltd. The principal executive office of Motif Pharmaceuticals
Ltd. is 25 and 28 North Wall Quay, Dublin 1, Ireland. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <SUP>(10)&nbsp;</SUP>Ezra Friedberg
has sole voting and dispositive power over the shares held by Balmoral Financial Group LLC. The principal executive office of
Balmoral Financial Group LLC is 106 Court Road, Suite 202, Baltimore, MD 21208. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <SUP>(11)&nbsp;</SUP>Ruth Friedman
has sole voting and dispositive power over the shares held by AME Equities LLC. The principal executive office of AME Equities
LLC is 3012 Luke Crossing Drive, Charlotte, NC 28226. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <SUP>(12)</SUP>&nbsp;Avi Wachsman has
sole voting and dispositive power over the shares held by Aperture Healthcare Ventures Ltd. The principal executive office of
Aperture Healthcare Ventures Ltd. is 970 Lawrence Ave W. Suite 904, Toronto, ON M6A 3B6, Canada. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <SUP>(13)</SUP>&nbsp;Michael Bodner
has sole voting and dispositive power over the shares held by MDB Merchants Park LLC. The principal executive office of Merchants
Park LLC is 8 The Green Suite A, Dover, DE 19901. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <SUP>(14)</SUP>&nbsp;Darwin Richardson
has sole voting and dispositive power over the shares held by Benuvia. The principal executive office of Benuvia is 3950 N. Mays
Street Round Rock, TX 78665. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


















































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<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0">&nbsp;</p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="a015_v1"></a>DESCRIPTION















OF CAPITAL STOCK</FONT></P>







<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><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: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
the completion of the IPO, our authorized capital stock will consist of 200,000,000 shares of Common Stock and 20,000,000 shares
of preferred stock, $0.0001 par value per share (5,000 of which will have been designated as Series C Convertible Redeemable Preferred
Stock). The following description summarizes the most important terms of our capital stock after giving effect to the close of
the IPO. Because it is only a summary, it does not contain all the information that may be important to you. For a complete description,
you should refer to our certificate of incorporation and bylaws, each as amended, which will be included as exhibits to the registration
statement of which this prospectus forms a part.</FONT> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>















<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common















Stock</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Authorized















Shares</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has authorized for issuance

an aggregate of 200,000,000 shares of Common Stock.</P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Dividend















Rights</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















holders of our Common Stock are entitled to receive dividends out of funds legally available if our board of directors, in its















discretion, determines to issue dividends and then only at the times and in the amounts that our board of directors may determine.















See &ldquo;Dividend Policy&rdquo; above.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Voting















Rights</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holders















of our Common Stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders. We have not















provided for cumulative voting for the election of directors. </font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>No















Preemptive or Similar Rights</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our















Common Stock is not entitled to preemptive rights, and is not subject to conversion, redemption or sinking fund provisions.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Liquidation















Rights</i></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any















distribution or payment made to holders of Common Stock in the event of a dissolution, liquidation or winding up of the Company















will be made in a pro rata fashion on the basis of the number of shares of Common Stock held by each such holder.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preferred















Stock</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our board of directors has the authority,
without further action by our stockholders, to issue up to 20,000,000 shares of preferred stock in one or more classes or series
and to fix the designations, rights, preferences, privileges and restrictions thereof, without further vote or action by the stockholder.
These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, terms of redemption,
liquidation preferences, sinking fund terms and the number of shares constituting, or the designation of, such class or series,
any or all of which may be greater than the rights of Common Stock. The issuance of our preferred stock could adversely affect
the voting power of holders of Common Stock and the likelihood that such holders will receive dividend payments and payments upon
our liquidation. In addition, the issuance of preferred stock could have the effect of delaying, deferring or preventing a change
in control of the Company or other corporate action.&nbsp;<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: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Series C Convertible Redeemable







Preferred Stock</I></B></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Prior to close of the IPO, we will
file a Certificate of Designation of Series C Redeemable Convertible Preferred Stock with the Secretary of State of the State
of Delaware designating 5,000 shares of preferred stock as Series C Preferred Stock. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="margin: 0pt 0">&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Dividend Rights</I></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Series C Preferred Stock will have
no dividend rights.</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Voting Rights</I></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Holders of our Series C Preferred Stock
will not be entitled to vote, unless otherwise permitted by the DGCL.</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Redemption Rights</I></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company at its option shall have







the right to redeem a portion or all of the outstanding shares of Series C Preferred Stock at any time; provided, however, that







we may not redeem any share of Series C Preferred Stock prior to the expiration of the lock-up period associated with this IPO







without first obtaining consent of the holder of shares being redeemed. The Company shall pay in cash an amount equal to the Stated







Value (as defined in the Certificate of Designation of Series C Preferred Stock) per share of Series C Preferred Stock redeemed.</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Conversion</I></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> Each
share of Series C Preferred Stock will be convertible at any time at the holder&rsquo;s option into a number of shares of Common
Stock determined by (i) multiplying the Stated Value of the Series C Preferred Stock, and then (ii) dividing the value obtained
from the preceding clause (i) by 125% of the price per IPO Share issued to the public in connection with the IPO. If the Common
Stock trades for twenty (20) consecutive trading days above 175% of the price per IPO Share issued to the public in connection
with the IPO, each share of Series C Preferred Stock shall mandatorily convert into a number of shares of Common Stock equal to
the result by multiplying 120% with the quotient obtained by dividing the Stated Value by the price per IPO Share issued to the
public in connection with the IPO. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Liquidation Rights</I></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shares of Series C Preferred Stock will be entitled to a liquidation preference of $1,000 per share of Series C Preferred Stock
(the &ldquo;Series C Liquidation Preference&rdquo;). In the event that we voluntarily or involuntarily liquidate, dissolve, or
wind up our affairs, holders of the shares of Series C Preferred Stock are entitled to receive out of our assets available for
distribution to stockholders, after satisfaction of liabilities and obligations to creditors, if any, and subject to the rights
of holders of any shares of capital stock then outstanding ranking senior to or on parity with the Series C Preferred Stock with
respect to distributions upon the voluntary or involuntary liquidation, dissolution, or winding-up of our business and affairs,
and before we make any distribution or payment out of our assets to the holders of our Common Stock or any other class or series
of our capital stock ranking junior to the Series C Preferred Stock with respect to distributions upon our liquidation, dissolution,
or winding-up, an amount per share equal to the Series C Liquidation Preference.</FONT> </P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>















































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></p>















































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anti-Takeover















Provisions</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The provisions of Delaware law, our















certificate of incorporation and our bylaws, as in effect immediately prior to the completion of the IPO, could have the effect















of delaying, deferring or discouraging another person from acquiring control of us. These provisions, which are summarized below,















may have the effect of discouraging takeover bids. They are also designed, in part, to encourage persons seeking to acquire control















of us to negotiate first with our board of directors. We believe that the benefits of increased protection of our potential ability















to negotiate with an unfriendly or unsolicited acquirer outweigh the disadvantages of discouraging a proposal to acquire us because















negotiation of these proposals could result in an improvement of their terms.</P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT></P>

































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Delaware















Law</i></font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We















are subject to the provisions of Section&nbsp;203 of the DGCL regulating corporate takeovers. In general, Section&nbsp;203 of















the DGCL prohibits a publicly held Delaware corporation from engaging in a business combination with an interested stockholder















for a period of three years following the date on which the person became an interested stockholder unless:</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">prior















                                         to the date of the transaction, the board of directors of the corporation approved either















                                         the business combination or the transaction which resulted in the stockholder becoming















                                         an interested stockholder;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         interested stockholder owned at least 85% of the voting stock of the corporation outstanding















                                         at the time the transaction commenced, excluding for purposes of determining the voting















                                         stock outstanding, but not the outstanding voting stock owned by the interested stockholder:















                                         (i) shares owned by persons who are directors and also officers; and (ii) shares owned















                                         by employee stock plans in which employee participants do not have the right to determine















                                         confidentially whether shares held subject to the plan will be tendered in a tender or















                                         exchange offer; or</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">at















                                         or subsequent to the date of the transaction, the business combination is approved by















                                         the board of directors of the corporation and authorized at an annual or special meeting















                                         of stockholders, and not by written consent, by the affirmative vote of at least 66.67%















                                         of the outstanding voting stock that is not owned by the interested stockholder.</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Generally,















a business combination includes a merger, asset or stock sale, or other transaction or series of transactions together resulting















in a financial benefit to the interested stockholder. An interested stockholder is a person who, together with affiliates and















associates, owns or, within three years prior to the determination of interested stockholder status, did own 15% or more of a















corporation&rsquo;s outstanding voting stock. We expect the existence of this provision to have an anti-takeover effect with respect















to transactions our board of directors does not approve in advance. We also anticipate that Section&nbsp;203 of the DGCL may also















discourage attempts that might result in a premium over the market price for the shares of common stock held by stockholders.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Certificate















of Incorporation and Bylaws Provisions</i></font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><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: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our certificate of incorporation and















our bylaws, as in effect immediately prior to completion of the IPO, include a number of provisions that could deter hostile takeovers















or delay or prevent changes in control of our company, including the following:</P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Board















                                         of Directors Vacancies</i>. Our certificate of incorporation and bylaws will authorize















                                         only our board of directors to fill vacant directorships, including newly created seats.















                                         In addition, the number of directors constituting our board of directors will be permitted















                                         to be set only by a resolution adopted by a majority vote of our entire board of directors.















                                         These provisions would prevent a stockholder from increasing the size of our board of















                                         directors and then gaining control of our board of directors by filling the resulting















                                         vacancies with its own nominees. This makes it more difficult to change the composition















                                         of our board of directors but promotes continuity of management.</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Stockholder















                                         Action; Special Meetings of Stockholders</i>. Our certificate of incorporation will provide















                                         that our stockholders may not take action by written consent but may only take action















                                         at annual or special meetings of our stockholders. As a result, a holder controlling















                                         a majority of our capital stock would not be able to amend our bylaws or remove directors















                                         without holding a meeting of our stockholders called in accordance with our bylaws. Further,















                                         our bylaws and certificate of incorporation will provide that special meetings of our















                                         stockholders may be called only by a majority of our board of directors, the chairman















                                         of our board of directors, or our Chief Executive Officer, thus prohibiting a stockholder















                                         from calling a special meeting. These provisions might delay the ability of our stockholders















                                         to force consideration of a proposal or for stockholders controlling a majority of our















                                         capital stock to take any action, including the removal of directors.</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 24px">&nbsp;</TD>















    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Advance Notice Requirements for Stockholder















    Proposals and Director Nominations</I>. Our bylaws will provide advance notice procedures for stockholders seeking to bring















    business before our annual meeting of stockholders or to nominate candidates for election as directors at our annual meeting















    of stockholders. Our bylaws also will specify certain requirements regarding the form and content of a stockholder&rsquo;s















    notice. These provisions might preclude our stockholders from bringing matters before our annual meeting of stockholders or















    from making nominations for directors at our annual meeting of stockholders if the proper procedures are not followed. We















    expect that these provisions might also discourage or deter a potential acquirer from conducting a solicitation of proxies















    to elect the acquirer&rsquo;s own slate of directors or otherwise attempting to obtain control of the Company.</FONT></TD></TR>















</TABLE>















































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT>&nbsp;</p>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>No















                                         Cumulative Voting</i>. The DGCL provides that stockholders are not entitled to the right















                                         to cumulate votes in the election of directors unless a corporation&rsquo;s certificate















                                         of incorporation provides otherwise. Our certificate of incorporation will not provide















                                         for cumulative voting.</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Directors















                                         Removed Only for Cause</i>. Our certificate of incorporation will provide that stockholders















                                         may remove directors only for cause and only by the affirmative vote of the holders of















                                         at least two-thirds of our outstanding Common Stock.</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Amendment















                                         of Charter Provisions</i>. Any amendment of the above expected provisions in our certificate















                                         of incorporation would require approval by holders of at least two-thirds of our outstanding















                                         Common Stock.</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>



<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">

<TR STYLE="vertical-align: top">

    <TD STYLE="width: 24px; font-size: 10pt">&nbsp;</TD>

    <TD STYLE="width: 24px; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>

    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Issuance

    of Undesignated Preferred Stock</I>. Our board of directors has the authority, without further action by the stockholders,

    to issue up to 20,000,000 shares of undesignated preferred stock with rights and preferences, including voting rights, designated

    from time to time by our board of directors. The existence of authorized but unissued shares of preferred stock would enable

    our board of directors to render more difficult or to discourage an attempt to obtain control of us by means of a merger,

    tender offer, proxy contest or other means.</FONT></TD></TR>

</TABLE>





<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>













































































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"></P>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"></p>































<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Choice















                                         of Forum</i>. Our certificate of incorporation will provide that the Court of Chancery















                                         of the State of Delaware will be the exclusive forum for: any derivative action or proceeding















                                         brought on our behalf; any action asserting a breach of fiduciary duty; any action asserting















                                         a claim against us arising pursuant to the DGCL, our certificate of incorporation or















                                         our bylaws; any action to interpret, apply, enforce or determine the validity of our















                                         certificate of incorporation or our bylaws; or any action asserting a claim against us















                                         that is governed by the internal affairs doctrine. Notwithstanding the foregoing, the















                                         exclusive forum provision does not apply to suits brought to enforce any liability or















                                         duty created by the Securities Act, the Exchange Act or any other claim for which the















                                         federal courts have exclusive or concurrent jurisdiction. Section 27 of the Exchange















                                         Act creates exclusive federal jurisdiction over all suits brought to enforce any duty















                                         or liability created by the Exchange Act of the rules and regulations thereunder, and















                                         Section 22 of the Securities Act creates concurrent jurisdiction for federal and state















                                         courts over all suits brought to enforce any duty or liability created by the Securities















                                         Act or the rules and regulations thereunder, and notwithstanding the provisions of our















                                         certificate of incorporation and our bylaws, compliance with the federal securities laws















                                         and the rules and regulations thereunder may not be waived by our investors. The enforceability















                                         of similar choice of forum provisions in other companies&rsquo; certificates of incorporation















                                         has been challenged in legal proceedings, and it is possible that a court could find















                                         these types of provisions to be inapplicable or unenforceable.</font></td></tr></table>































































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"></p>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transfer















Agent and Registrar</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><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: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Upon the completion of the IPO, the
transfer agent and registrar for our Common Stock will be Nevada Agency and Transfer Company. The transfer agent&rsquo;s address
50 W. Liberty Street, Suite 880, Reno, NV 89501, and its telephone number is (775) 322-0626. Our shares of Common Stock will be
issued in uncertificated form only, subject to limited circumstances. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Market















Listing</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have applied to list our Common Stock on the NYSE American under the symbol &ldquo;CHRO&rdquo;.</FONT> </P>

<P STYLE="margin: 0pt 0">&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>















































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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->92<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0">&nbsp;</p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="a016_v1"></a>SHARES















ELIGIBLE FOR FUTURE SALE</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Prior to the IPO, there has not been
a public market for shares of our Common Stock, and we cannot predict the effect, if any, that market sales of shares of our Common
Stock or the availability of shares of our Common Stock for sale will have on the market price of our Common Stock prevailing
from time to time. Nevertheless, sales of substantial amounts of our Common Stock, including shares issued upon exercise or conversion
of outstanding options, warrants and/or convertible securities, in the public market following this offering could adversely affect
market prices prevailing from time to time and could impair our ability to raise capital through the sale of our equity securities. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp;&nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> After giving effect to the IPO Transactions, the issuance of the November Leak-Out Shares not yet issued
as of the date of this prospectus and sale of IPO Shares in the IPO, we will have 5,610,599 outstanding shares of Common Stock.
All of the IPO Shares sold in the IPO will be immediately tradable without restriction under the Securities Act of 1933, as amended,
or the Securities Act, except for any shares held by &ldquo;affiliates,&rdquo; as that term is defined in Rule 144 under the Securities
Act, or Rule 144. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; text-align: justify"> The remaining outstanding shares of our Common Stock, other than the Selling Stockholder <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares
covered by the Resale Prospectus, will be deemed &ldquo;restricted securities&rdquo; as defined in Rule&nbsp;144. Restricted securities
may be sold in the public market only if they are registered under the Securities Act or if they qualify for an exemption from
registration under Rule&nbsp;144 or Rule&nbsp;701 promulgated under the Securities Act, which rules are summarized below.</FONT> </P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> All of our directors, executive officers
and holders of 5% or more of our capital stock prior to the IPO, have entered into lock-up agreements with the underwriters pursuant
to which they have agreed, subject to specific exceptions, not to sell any of shares of Common Stock for at least six (6) months
following the effective date of the registration statement of which this prospectus forms a part, as described below. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> In addition, pursuant to the securities
purchase agreement in connection with the Bridge Financings, we will file a registration statement within 180 calendar days after
consummation of the IPO, providing for the resale of Common Stock, which includes 51 Bonus Shares, received by holders of the
senior secured convertible notes upon conversion of such notes. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Lock-Up Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> All of our directors, executive officers
and holders of 5% or more of our capital stock prior to the IPO, are subject to lock-up agreements that, subject to certain exceptions,
prohibit them from directly or indirectly offering, pledging, selling, contracting to sell, selling any option or contract to
purchase, purchasing any option or contract to purchase, granting any option, right or warrant to purchase or otherwise transferring
or disposing of any shares of Common Stock, options to acquire shares of Common Stock or any securities convertible into or exercisable
or exchangeable for Common Stock, whether now owned or hereafter acquired, or entering into any swap or any other agreement or
any transaction that transfer, in whole or in part, directly or indirectly, the economic consequence of ownership, for a period
of six (6) months following the effective date of the registration statement of which this prospectus forms a part, without the
prior written consent of the underwriters. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> For a period commencing on the ninetieth
(90th) day following the effective date of the registration statement of which this prospectus forms a part (the &ldquo;Leak-Out
Period&rdquo;), all of our directors, executive officers and holders of 5% or more of our capital stock prior to the IPO shall
be permitted to sell, dispose or otherwise transfer, directly or indirectly, on any trading day, shares of Common Stock in an
amount no more than 5% of the average trading volume of our Common Stock as reported by Bloomberg, LP on such trading day; provided,
that, prior to any such sale, disposition or other transfer, directly or indirectly, of shares of Common Stock, the closing price
of our Common Stock shall have closed at or above 150% of the price per IPO Share, for each of the prior three trading days (the &ldquo;Leak-Out
Restriction&rdquo;). These agreements are described in the section entitled &ldquo;Underwriting.&rdquo; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Rule&nbsp;144</B></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In general, under Rule&nbsp;144 as currently















in effect, once we have been subject to public company reporting requirements for at least 90&nbsp;days, a person who is not deemed















to have been one of our affiliates for purposes of the Securities Act at any time during the 90&nbsp;days preceding a sale and















who has beneficially owned the shares of Common Stock proposed to be sold for at least six months, including the holding period















of any prior owner other than our affiliates, is entitled to sell such shares without complying with the manner of sale, volume















limitation or notice provisions of Rule&nbsp;144, subject to compliance with the public information requirements of Rule 144.















If such a person has beneficially owned the shares of Common Stock proposed to be sold for at least one year, including the holding















period of any prior owner other than our affiliates, then that person would be entitled to sell such shares without complying with















any of the requirements of Rule&nbsp;144.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In general, under Rule&nbsp;144, as currently















in effect, our affiliates or persons selling shares on behalf of our affiliates are entitled to sell upon expiration of the lock-up















agreements described above, within any three-month period, a number of shares of Common Stock that does not exceed the greater















of:</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="width: 24px; font-size: 10pt"> <FONT STYLE="font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">1% of the number of shares of our Common Stock
    then outstanding, which will equal approximately 56,170 shares of Common Stock immediately after the IPO; or</FONT> </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



























































































<P STYLE="margin-top: 0; margin-bottom: 0"></P>


















<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>







<P STYLE="margin-top: 0; margin-bottom: 0"></P>















<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>















    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the average weekly trading volume of the Common Stock during the four calendar weeks preceding the filing of a notice on Form 144 with respect to such sale.</FONT></TD></TR>















</TABLE>















































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"></p>















































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"></p>































<!-- Field: Page; Sequence: 100; Value: 2 -->















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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales















under Rule 144 by our affiliates or persons selling shares of Common Stock on behalf of our affiliates are also subject to















certain manner of sale provisions and notice requirements and to the availability of current public information about us.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rule&nbsp;701</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Rule&nbsp;701 generally allows a stockholder















who purchased shares of Common Stock pursuant to a written compensatory plan or contract and who is not deemed to have been an















affiliate of the Company during the immediately preceding 90&nbsp;days to sell such shares in reliance upon Rule&nbsp;144, but















without being required to comply with the public information, holding period, volume limitation or notice provisions of Rule&nbsp;144.















Rule&nbsp;701 also permits affiliates of the Company to sell their Rule&nbsp;701 shares under Rule&nbsp;144 without complying















with the holding period requirements of Rule&nbsp;144. All holders of Rule&nbsp;701 shares, however, are required by that rule















to wait until 90&nbsp;days after the date of this prospectus before selling such shares pursuant to Rule&nbsp;701 and, subject















to the exceptions noted above, are subject to the lock-up agreements described above.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>Equity















Incentive Awards</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We intend to file a registration statement















on Form&nbsp;S-8 under the Securities Act covering all of the shares of Common Stock subject to outstanding options and the shares















of Common Stock reserved for issuance under our 2023 Plan. We expect to file a registration statement covering such shares issuable















under the 2023 Plan as soon as permitted under the Securities Act. Upon effectiveness, the shares of Common Stock covered by a















registration statement on Form S-8 will generally be eligible for sale in the public market, subject to the contractual and legal















descriptions described above. </p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>















































<!-- Field: Page; Sequence: 101; Value: 2 -->















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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0">&nbsp;</p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="a017_v1"></a>MATERIAL















U.S. FEDERAL INCOME TAX CONSIDERATIONS</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The following is a summary of the material
U.S. federal income tax considerations relating to the purchase, ownership and disposition of our shares of common stock, but
is for general information purposes only and does not purport to be a complete analysis of all the potential tax considerations.
This summary is based upon the provisions of the Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;), existing
and proposed U.S. Treasury regulations promulgated thereunder, administrative rulings and judicial decisions, all as of the date
hereof. These authorities may be changed, possibly retroactively, so as to result in U.S. federal income and estate tax consequences
different from those set forth below. There can be no assurance that the Internal Revenue Service (the &ldquo;IRS&rdquo;) will
not challenge one or more of the tax consequences described herein, and we have not obtained, and do not intend to obtain, an
opinion of counsel or ruling from the IRS with respect to the U.S. federal income tax considerations relating to the purchase,
ownership or disposition of our securities. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This















summary does not address any alternative minimum tax considerations, any considerations regarding the tax on net investment income,















or the tax considerations arising under the laws of any state, local or non-U.S. jurisdiction, or under any non-income tax laws,















including U.S. federal gift and estate tax laws, except to the limited extent set forth below. In addition, this summary does















not address tax considerations applicable to an investor&rsquo;s particular circumstances or to investors that may be subject















to special tax rules, including, without limitation:</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">banks,















                                         insurance companies or other financial institutions;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">tax-exempt















                                         organizations or governmental organizations;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">regulated















                                         investment companies and real estate investment trusts;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">controlled















                                         foreign corporations, passive foreign investment companies and corporations that accumulate















                                         earnings to avoid U.S. federal income tax;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">brokers















                                         or dealers in securities or currencies;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">traders















                                         in securities that elect to use a mark-to-market method of accounting for their securities















                                         holdings;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">persons















                                         that own, or are deemed to own, more than five percent of our capital stock (except to















                                         the extent specifically set forth below);</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">tax-qualified















                                         retirement plans;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">certain















                                         former citizens or long-term residents of the United States;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">partnerships















                                         or entities or arrangements classified as partnerships for U.S. federal income tax purposes















                                         and other pass-through entities (and investors therein);</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">persons















                                         who hold our securities as a position in a hedging transaction, &ldquo;straddle,&rdquo;















                                         &ldquo;conversion transaction&rdquo; or other risk reduction transaction or integrated















                                         investment;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">persons















                                         who do not hold our securities as a capital asset within the meaning of Section 1221















                                         of the Code; or</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">persons















                                         deemed to sell our securities under the constructive sale provisions of the Code.</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> In addition, if a partnership (or entity
or arrangement classified as a partnership for U.S. federal income tax purposes) holds our securities, the tax treatment of a
partner generally will depend on the status of the partner and upon the activities of the partnership. Accordingly, partnerships
that hold our securities, and partners in such partnerships, should consult their tax advisors. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B>You are urged to consult your own
tax advisors with respect to the application of the U.S. federal income tax laws to your particular situation, as well as any
tax consequences of the purchase, ownership and disposition of our securities arising under the U.S. federal estate or gift tax
laws or under the laws of any state, local, non-U.S., or other taxing jurisdiction or under any applicable tax treaty.</B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify">&nbsp;</p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consequences















to U.S. Holders</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The following is a summary of the U.S.
federal income tax consequences that will apply to a U.S. holder of our securities. For purposes of this discussion, you are a
U.S. holder if, for U.S. federal income tax purposes, you are a beneficial owner of our securities, other than a partnership,
that is: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an















                                         individual citizen or resident of the United States;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a















                                         corporation or other entity taxable as a corporation created or organized in the United















                                         States or under the laws of the United States, any State thereof or the District of Columbia;</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an















                                         estate whose income is subject to U.S. federal income tax regardless of its source; or</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a















                                         trust (x) whose administration is subject to the primary supervision of a U.S. court















                                         and which has one or more &ldquo;United States persons&rdquo; (within the meaning of















                                         Section 7701(a)(30) of the Code) who have the authority to control all substantial decisions















                                         of the trust or (y) which has made a valid election to be treated as a &ldquo;United















                                         States person.&rdquo;</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: italic bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distributions</font></p>































<p style="font: italic bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
described in the section titled &ldquo;Dividend Policy,&rdquo; we have never declared or paid cash dividends on our common stock
and do not anticipate paying any dividends on our Common Stock in the foreseeable future. However, if we do make distributions
on our common stock, those payments will constitute dividends for U.S. tax purposes to the extent paid from our current or accumulated
earnings and profits, as determined under U.S. federal income tax principles. To the extent those distributions exceed both our
current and our accumulated earnings and profits, the excess will constitute a return of capital and will first reduce your basis
in our common stock, but not below zero, and then will be treated as gain from the sale of stock as described below under &ldquo;Sale,
Exchange or Other Taxable Disposition of Common Stock.&rdquo;</FONT></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividend







income may be taxed to an individual U.S. holder at rates applicable to long-term capital gains, provided that a minimum holding







period and other limitations and requirements are satisfied. Any dividends that we pay to a U.S. holder that is a corporation







may qualify for a deduction allowed to U.S. corporations in respect of dividends received from other U.S. corporations equal to







a portion of any dividends received, subject to generally applicable limitations on that deduction. U.S. holders should consult







their own tax advisors regarding the holding period and other requirements that must be satisfied to qualify for the







reduced tax rate on dividends or the dividends-received deduction.</FONT></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<P STYLE="font: italic bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale,















Exchange or Other Taxable Disposition of Common Stock</font></p>































<P STYLE="font: italic bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A







U.S. holder will generally recognize capital gain or loss on the sale, exchange or other taxable disposition of our Common Stock.







The amount of gain or loss will equal the difference between the amount realized on the sale and such U.S. holder&rsquo;s tax







basis in such Common Stock. The amount realized will include the amount of any cash and the fair market value of any other property







received in exchange for such Common Stock. Gain or loss will be long-term capital gain or loss if the U.S. holder has held the







Common Stock for more than one year. Long-term capital gains of non-corporate U.S. holders are generally taxed at preferential







rates. The deductibility of capital losses is subject to certain limitations.</FONT></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Consequences















to Non-U.S. Holders</B></FONT></P>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B><I>Gain on Sale, Exchange or Other
Taxable Disposition of Common Stock</I></B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Subject to the discussion below regarding backup withholding and foreign accounts, a non-U.S. holder generally
will not be required to pay U.S. federal income tax on any gain realized upon the sale, exchange or other taxable disposition of
our Common Stock unless:&nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         gain is effectively connected with the non-U.S. holder&rsquo;s conduct of a U.S. trade















                                         or business (and, if required by an applicable income tax treaty, the gain is attributable















                                         to a permanent establishment or fixed base maintained by the non-U.S. holder in the United















                                         States);</font></td></tr></table>































<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the















                                         non-U.S. holder is a non-resident alien individual who is present in the United States















                                         for a period or periods aggregating 183 days or more during the calendar year in which















                                         the sale or disposition occurs and certain other conditions are met; or</font></td></tr></table>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30px; font-size: 10pt"> &nbsp; </TD>
    <TD STYLE="width: 30px; font-size: 10pt"> <FONT STYLE="font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">shares of our common stock constitute U.S.
    real property interests by reason of our status as a &ldquo;United States real property holding corporation&rdquo; (a USRPHC)
    for U.S. federal income tax purposes at any time within the shorter of the five-year period preceding the non-U.S. holder&rsquo;s
    disposition of, or the non- U.S. holder&rsquo;s holding period for, our common stock.</FONT> </TD></TR>
</TABLE>


<P STYLE="margin: 0pt 0; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0"><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: 0pt 0; text-align: justify"> We believe that we are not currently
and will not become a USRPHC for U.S. federal income tax purposes, and the remainder of this discussion so assumes. However, because
the determination of whether we are a USRPHC depends on the fair market value of our U.S. real property relative to the fair market
value of our other business assets, there can be no assurance that we will not become a USRPHC in the future. Even if we become
a USRPHC, however, as long as our common stock is regularly traded on an established securities market, such common stock will
be treated as U.S. real property interests only if the non-U.S. holder actually or constructively holds more than five percent
of such regularly traded common stock at any time during the shorter of the five-year period preceding the non-U.S. holder&rsquo;s
disposition of, or the non-U.S. holder&rsquo;s holding period for, our common stock. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If















the non-U.S. holder is described in the first bullet above, it will be required to pay tax on the net gain derived from the sale,















exchange or other taxable disposition under regular graduated U.S. federal income tax rates, and a corporate non-U.S. holder described















in the first bullet above also may be subject to the branch profits tax at a rate of 30%, or such lower rate as may be specified















by an applicable income tax treaty. An individual non-U.S. holder described in the second bullet above will be required to pay















a flat 30% tax (or such lower rate specified by an applicable income tax treaty) on the gain derived from the sale, exchange or















other taxable disposition, which gain may be offset by U.S. source capital losses for the year (provided the non-U.S. holder has















timely filed U.S. federal income tax returns with respect to such losses). Non-U.S. holders should consult their own tax advisors















regarding any applicable income tax or other treaties that may provide for different rules.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: italic bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Federal















Estate Tax</font></p>































<P STYLE="font: italic bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Common stock beneficially
owned by an individual who is not a citizen or resident of the United States (as defined for U.S. federal estate tax purposes)
at the time of their death will generally be includable in the decedent&rsquo;s gross estate for U.S. federal estate tax purposes.
Such shares, therefore, may be subject to U.S. federal estate tax, unless an applicable estate tax treaty provides otherwise. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Backup















Withholding and Information Reporting</font></p>































<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Generally,















we must report annually to the IRS the amount of dividends paid to you, your name and address and the amount of tax withheld,















if any. A similar report will be sent to you. Pursuant to applicable income tax treaties or other agreements, the IRS may make















these reports available to tax authorities in your country of residence.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payments















of dividends on or of proceeds from the disposition of our securities made to you may be subject to information reporting and















backup withholding at a current rate of 28% unless you establish an exemption, for example, by properly certifying your non-U.S.















status on an IRS Form W-8BEN or IRS Form W-8BEN-E or other applicable IRS Form W-8. Notwithstanding the foregoing, backup withholding















and information reporting may apply if either we or our paying agent has actual knowledge, or reason to know, that you are a U.S.















person.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Backup















withholding is not an additional tax; rather, the U.S. federal income tax liability of persons subject to backup withholding will















be reduced by the amount of tax withheld. If withholding results in an overpayment of taxes, a refund or credit may generally















be obtained from the IRS, provided that the required information is furnished to the IRS in a timely manner.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Foreign















Account Tax Compliance</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The Foreign Account Tax Compliance
Act (&ldquo;FATCA&rdquo;) generally imposes withholding tax at a rate of 30% on dividends on and gross proceeds from the sale
or other disposition of our securities paid to a &ldquo;foreign financial institution&rdquo; (as specially defined under these
rules), unless such institution enters into an agreement with the U.S. government to, among other things, withhold on certain
payments and to collect and provide to the U.S. tax authorities substantial information regarding the U.S. account holders of
such institution (which includes certain equity and debt holders of such institution, as well as certain account holders that
are foreign entities with U.S. owners) or otherwise establishes an exemption. FATCA also generally imposes a U.S. federal withholding
tax of 30% on dividends on and gross proceeds from the sale or other disposition of our securities paid to a &ldquo;non-financial
foreign entity&rdquo; (as specially defined for purposes of these rules) unless such entity provides the withholding agent with
a certification identifying certain substantial direct and indirect U.S. owners of the entity, certifies that there are none or
otherwise establishes an exemption. The withholding provisions under FATCA generally apply to dividends paid by us, and under
current transitional rules are expected to apply with respect to the gross proceeds from a sale or other disposition of our securities
on or after January 1, 2020. Under certain circumstances, a non-U.S. holder might be eligible for refunds or credits of such taxes.
An intergovernmental agreement between the United States and an applicable foreign country may modify the requirements described
in this paragraph. Non-U.S. holders should consult their own tax advisors regarding the possible implications of this legislation
on their investment in our securities. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B>Each prospective investor should
consult its own tax advisor regarding the particular U.S. federal, state and local and non-U.S. tax consequences of purchasing,
owning and disposing of our securities, including the consequences of any proposed changes in applicable laws.</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>















<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>















<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP></SUP></FONT></p>















































<!-- Field: Page; Sequence: 107; Value: 2 -->















    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->100<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; text-indent: 0">&nbsp;</p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><a name="a023_v1"></a><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>SELLING
STOCKHOLDERS</B></FONT></FONT></p>















































































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> A total of
up to 2,909,353 shares of Common Stock being registered hereby will be offered and may be sold by the Selling Stockholders pursuant
to the Resale Prospectus.&nbsp; </P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
table below sets forth with respect to each Selling Stockholder:</FONT></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></td><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                         name of such Selling Stockholder; </FONT></td></tr></table>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><P STYLE="margin: 0pt 0"> the number of shares of Common Stock beneficially
                                         owned by such Selling Stockholder as of January 16, 2024 (after giving effect to the
                                         IPO Transactions, the issuance of the November Leak-Out Shares not yet issued as of January
                                         16, 2024 and the consummation of the IPO); </P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> &nbsp; </TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp;&nbsp; </P></TD>
    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><P STYLE="margin: 0pt 0"> the maximum number of shares of Common Stock
                                         that may be offered for the account of such Selling Stockholder under this Resale Prospectus
                                         (which such maximum number shall equal the number of shares of Common Stock beneficially
                                         owned by such Selling Stockholder as of&nbsp;January 16, 2024, after giving effect to
                                         the IPO Transactions and the issuance of the November Leak-Out Shares not yet issued
                                         as of January 16, 2024 (excluding the shares of Common Stock to be received upon conversion
                                         of the bridge notes issued in the Bridge Financings, and excluding the IPO Shares to
                                         be received by the holder of the Investor Note in full satisfaction of our repayment
                                         obligations thereunder)); and </P>


</TD></TR>
</TABLE>


<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"> &nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">&#9679; </FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">the number and percentage of shares of Common Stock that would be owned by such Selling Stockholder after
completion of the offering of the Selling Stockholder Shares, assuming (i) a sale of all of the Common Stock held by such Selling
Stockholder and registered hereby and (ii) the sale of 1,038,674 IPO Shares pursuant to the IPO Prospectus (including IPO Shares
sold in full satisfaction of our obligations under the Investor Note and Director Note).</FONT> </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
Selling Stockholder and any other person or entity participating in such distribution of Selling Stockholder Shares will be subject
to applicable provisions of the Exchange Act and the rules and regulations thereunder, including, without limitation, to the extent
applicable, Regulation M of the Exchange Act, which may limit the timing of purchases and sales of any of the Selling Stockholder
Shares by the Selling Stockholders and any other participating person. To the extent applicable, Regulation M of the Exchange
Act may also restrict the ability of any person engaged in the distribution of the Selling Stockholder Shares to engage in market-making
activities with respect to such Selling Stockholder Shares. All of the foregoing may affect the marketability of the Selling Stockholder
Shares and the ability of any person or entity to engage in market-making activities with respect to such Selling Stockholder
Shares.</FONT> </P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Each Selling

Stockholder is subject to lock-up agreements that, subject to certain exceptions, prohibit them from directly or indirectly offering,

pledging, selling, contracting to sell, selling any option or contract to purchase, purchasing any option or contract to purchase,

granting any option, right or warrant to purchase or otherwise transferring or disposing of any shares of Common Stock, options

to acquire shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock, whether

now owned or hereafter acquired, or entering into any swap or any other agreement or any transaction that transfer, in whole or

in part, directly or indirectly, the economic consequence of ownership, for a period of six months following the effective date

of the registration statement of which this prospectus forms a part, without the prior written consent of the underwriters.</P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">No material relationships















exist between any of the Selling Stockholders and us, nor have any such material relationships existed within the past three years,















except, in either case, as identified below this table.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Beneficial ownership is determined
under the rules of the SEC and includes investment power with respect to shares of Common Stock. The number of shares beneficially
owned by a Selling Stockholder includes shares of Common Stock underlying warrants, stock options and other derivative securities
to acquire our Common Stock held by that person that are currently exercisable or convertible within 60 days after January 16,
2024. The shares of Common Stock issuable under these securities are treated as outstanding for computing the percentage ownership
of the person holding these securities but are not treated as outstanding for the purposes of computing the percentage ownership
of any other person. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The Common Stock beneficially owned
by the Selling Stockholders has been determined in accordance with the rules promulgated by the SEC, and the information is not
necessarily indicative of beneficial ownership for any other purpose. The information in the table below is current as of January
16, 2024. All information contained in the table below is based upon information provided to the Company by the Selling Stockholders,
and the Company has not independently verified this information. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT> </P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Except















as indicated below, the Selling Stockholders are not the beneficial owners of any additional shares of Common Stock or other equity















securities issued by the Company or any securities convertible into, or exercisable or exchangeable for, the Company&rsquo;s equity















securities.</font></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company may require the Selling















Stockholders to suspend the sales of Common Stock offered by this Resale Prospectus upon the occurrence of any event that makes















any statement in this Resale Prospectus or the related registration statement untrue in any material respect or that requires















the changing of statements in these documents in order to make statements in those documents not misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><B>Selling Stockholder Name</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Number of</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Shares of</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Common</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Stock</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Beneficially</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Owned Prior</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>to&nbsp;the</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Offering of the</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Stockholder</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Shares (1)</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Maximum</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Number of</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Shares of</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Common</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Stock To Be</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Sold in the</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Offering of the</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Stockholder</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Shares (2)</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Number of</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Shares of</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Common</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Stock</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Beneficially</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Owned</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>After the</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Offering of the</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Stockholder</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Shares (2)</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Percentage</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Beneficially</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Owned</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>After the</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Offering of the</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Stockholder</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Shares (3)</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-size: 10pt">3i, LP(4)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">115,063</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">(5)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">22,223</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">92,840</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">1.65</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-size: 10pt">Adam Kinzer</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">33,339</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">33,339</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-size: 10pt">AME Equities LLC</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">369,099</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">351,163</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">17,936</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;*</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-size: 10pt">Aperture Healthcare Ventures Ltd.</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">443,995</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">426,566</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">17,429</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;*</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-size: 10pt">Boswell Prayer Ltd</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">471,542</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">459,895</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">11,647</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;*</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-size: 10pt">DB Investor</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">34,245</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">33,339</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">906</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;*</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-size: 10pt">H&amp;M Ventures II</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">56,338</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">55,564</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">774</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;*</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-size: 10pt">Hamilcar Portfolio Inc.</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">12,215</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">11,027</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">1,188</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;*</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-size: 10pt">James Kirsch</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">33,339</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">33,339</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-size: 10pt">MDB Merchants Park LLC</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">273,671</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">249,533</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">24,138</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;*</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-size: 10pt">Motif Pharmaceuticals Ltd</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">483,551</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">470,674</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">12,677</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;*</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-size: 10pt">Nobi Investments Limited</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">56,996</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">55,487</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">1,509</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;*</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-size: 10pt">Sargeant Capital Ventures, LLC</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">61,211</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">58,809</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">2,402</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;*</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-size: 10pt">Zach Hirsch</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">11,268</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">11,113</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">155</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;*</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-size: 10pt">Dominion Capital LLC(6)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">37,500</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">37,500</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-size: 10pt">Scott Sussman</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">100,000</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">100,000</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-size: 10pt">Benuvia Operations, LLC(7)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">384,226</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">384,226</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> <FONT STYLE="font-size: 10pt">Ballantyne Jewish Center, Inc.(8)</FONT> </TD>
    <TD COLSPAN="2"> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">88,552</FONT> </TD>
    <TD COLSPAN="3" STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">87,778</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">774</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD COLSPAN="3" STYLE="text-align: right"> &nbsp; </TD>
    <TD> <FONT STYLE="font-size: 10pt">*</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-size: 10pt">Temple Israel of the City of New York(9)</FONT> </TD>
    <TD COLSPAN="2"> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">27,778</FONT> </TD>
    <TD COLSPAN="3" STYLE="text-align: right"> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">27,778</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD COLSPAN="3" STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-size: 10pt"><B>TOTAL</B></FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 2.25pt double"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-size: 10pt">3,093,729</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 2.25pt double"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-size: 10pt">2,909,353</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 2.25pt double"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-size: 10pt">184,375 </FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 2.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 2.25pt double"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-size: 10pt">3.28</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-size: 10pt">%</FONT> </TD></TR>
<TR>
    <TD STYLE="width: 43%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 12%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 12%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 12%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 9%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD></TR>
</TABLE>




















<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* Less than 1%</p>






























<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px; font-size: 10pt"> <FONT STYLE="font-size: 10pt">(1)</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Unless otherwise indicated herein, represents
    shares of Common Stock issued by the Company to such Selling Stockholder.</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 10pt">(2)</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">The Company does not have the ability to
    control how many, if any, of the Selling Stockholder Shares will be sold by the Selling Stockholders listed above will sell,
    the table above assumes that the Selling Stockholders will sell all of the Selling Stockholder Shares offered herein for purposes
    of determining how many shares of Common Stock each such Selling Stockholder will own after the offering of the Selling Stockholder
    Shares and their applicable beneficial ownership percentage following the offering of the Selling Stockholder Shares.</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 10pt">(3)</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">All percentages rounded to the nearest hundredth.</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 10pt">(4)</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Excludes shares of Common Stock issuable pursuant to the proposed ELOC,</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">(5)</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Includes shares of Common Stock issued pursuant to the Investor Note and the Investor Note Side Letters,
including the November Leak-Out Shares issued or issuable on January 29, 2024.</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">(6)</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Mikhail Gurevich has sole voting and dispositive
    power over the shares held by Dominion Capital LLC. The principal executive office of Dominion Capital LLC is 256 W. 38<SUP>th
    </SUP>Street, 15<SUP>th</SUP> Floor, New York, NY 10018.</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> (7) </P>

</TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Darwin Richardson has sole
        voting and dispositive power over the shares held by Benuvia. The principal executive office of Benuvia is 3950 N. Mays
        Street, Round Rock, TX 78665. </P>
</TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 10pt">(8)</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-size: 10pt">Israel Levin has sole voting and dispositive power over the
    shares held by Ballantyne Jewish Center, Inc. The principal executive office of Ballantyne Jewish Center, Inc. is 8632 Bryant
    Farms Road, Charlotte, NC 28277.</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px; font-size: 10pt"> <FONT STYLE="font-size: 10pt">(9)</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Andrew Fondiller has sole voting and dispositive
    power over the shares held by Temple Israel of the City of New York. The principal executive office of Temple Israel of the
    City of New York is 112 E. 75<SUP>th</SUP> Street, New York, NY 10021.</FONT> </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;</font></p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></p>































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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->101<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</p>















































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><b><a name="a024_v1"></a>PLAN















OF DISTRIBUTION</b></font></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shares of Common Stock covered by the final prospectus filed by us which covers the Selling Stockholder Shares (the &ldquo;Resale
Prospectus&rdquo;) may be offered and sold from time to time by the Selling Stockholders, subject to the terms of the lock-up
agreements.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registration
of the Selling Stockholder Shares covered by the Resale Prospectus does not mean that the Selling Stockholder Shares necessarily
will be sold; there is no requirement that the Selling Stockholders sell some or all of their respective Selling Stockholder Shares
in connection with the offering of the Selling Stockholder Shares, and, in any event, the Selling Stockholders are not obligated
to sell such Selling Stockholder Shares below a price that they believe is fair or at a price that does not align with any other
legitimate return objectives that they may have.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will not receive any proceeds from any sale by the Selling Stockholders of the Stockholder Shares. See &ldquo;Use of Proceeds.&rdquo;
We will pay all costs, expenses and fees in connection with the registration of the Selling Stockholder Shares, including fees
of our counsel and accountants, fees payable to the SEC and fees of counsel to the Selling Stockholders. The Selling Stockholders
will pay all underwriting discounts and commissions and similar selling expenses, if any, attributable to the sale of the Selling
Stockholder Shares covered by the Resale Prospectus.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><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: 0pt 0; text-align: justify; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject
to the terms of the lock-up agreements, the Selling Stockholders may sell their respective Selling Stockholder Shares covered
by the Resale Prospectus from time to time, at market prices prevailing at the time of sale, at prices related to market prices,
at a fixed price or prices subject to change or at negotiated prices, or in any manner permitted by the Securities Act, including
any one or more of the following ways:</FONT> </P>

<P STYLE="margin: 0pt 0"> &nbsp; </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>































































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 24px">&nbsp;</TD>















    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">through one or more underwriters or broker-dealers















    on a firm commitment or best-efforts basis;</FONT></TD></TR>















</TABLE>































































<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in















                                         privately negotiated transactions;</font></td></tr></table>































<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">through















                                         broker-dealers, who may act as agents or principals;</font></td></tr></table>































<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">in
    a block trade in which a broker-dealer will attempt to sell a block of shares of Common Stock as agent but may position and
    resell a portion of the block as principal to facilitate the transaction;</FONT> </TD></TR>
</TABLE>


<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">directly















                                         to one or more purchasers;</font></td></tr></table>































<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">through















                                         selling agents; or</font></td></tr></table>































<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in















                                         any combination of the above. </font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>















































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<!-- Field: Page; Sequence: 109; Value: 2 -->















    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->102<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif; background-color: white">In















effecting sales, brokers or dealers engaged by a Selling Stockholder may arrange for other brokers or dealers to participate.















Broker-dealer transactions may include:</font></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in"> &nbsp; </TD>
    <TD STYLE="width: 0.25in; font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">&#9679;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-size: 10pt">purchases of the shares of Common Stock by a broker-dealer as principal and resales of the shares of Common
Stock by the broker-dealer for its account pursuant to the Resale Prospectus;</FONT> </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">&#9679;</FONT> </TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">ordinary
    brokerage transactions; or</FONT> </TD></TR>
</TABLE>































































<P STYLE="margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">transactions















                                         in which the broker-dealer solicits purchasers.</font></td></tr></table>































<p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; 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: 0pt 0; text-align: justify; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Until
such time as it is no longer necessary to maintain the registration of the Selling Stockholder Shares due to such securities being
permitted to be offered and resold without restriction pursuant to the provisions of Rule 144, at any time a particular offer
of the Selling Stockholder Shares covered by the Resale Prospectus is made, a prospectus supplement to such prospectus, if required,
will be distributed which will set forth the aggregate amount of shares of Common Stock covered by the Resale Prospectus being
offered and the terms of such offering, including the name or names of any underwriters, dealers, brokers or agents, any option
under which underwriters may purchase additional shares of Common Stock from the Selling Stockholder(s), any discounts, commissions,
concessions and other items constituting compensation from the Selling Stockholder(s) and any discounts, commissions or concessions
allowed or reallowed or paid to dealers. Such prospectus supplement, and, if necessary, a post-effective amendment to the registration
statement of which the Resale Prospectus is a part, will be filed with the SEC to reflect the disclosure of additional information
with respect to the distribution of the Selling Stockholder Shares covered by such prospectus, if applicable.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> <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: 0pt 0; text-align: justify; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the sale of the Selling Stockholder Shares covered by the Resale Prospectus through broker-dealers, such broker-dealers
may receive compensation in the form of discounts or commissions and may also receive commissions from purchasers of shares of
Common Stock for whom they may act as agent. These broker-dealers may sell to or through other dealers, and such dealers may receive
compensation in the form of discounts, concessions or commissions from the underwriters and/or commissions from the purchasers
for whom they may act as agent.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> <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: 0pt 0; text-align: justify; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
underwriters, broker-dealers or agents participating in the distribution of the Selling Stockholder Shares covered by the Resale
Prospectus may be deemed to be &ldquo;underwriters&rdquo; within the meaning of the Securities Act, and any commissions received
by any of those underwriters, broker-dealers or agents may be deemed to be underwriting commissions under the Securities Act.
The Selling Stockholders may also be deemed to be an underwriter, and any discounts and commissions they receive and any profit
they realize on the sale of the Selling Stockholder Shares may be deemed to be underwriting commissions under the Securities Act.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> <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: 0pt 0; text-align: justify; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Selling Stockholders may enter into hedging transactions with broker-dealers or other financial institutions. In connection with
such transactions, broker-dealers or other financial institutions may engage in short sales of shares of Common Stock in the course
of hedging transactions, broker-dealers or other financial institutions may engage in short sales of shares of Common Stock in
the course of hedging the positions they assume with a Selling Stockholder. The Selling Stockholders may also sell the Selling
Stockholder Shares short and redeliver the securities to close out such short positions. Selling Stockholders may also enter into
option or other transactions with broker-dealers or other financial institutions which require the delivery to such broker-dealer
or other financial institution of the Selling Stockholder Shares offered by the Resale Prospectus, which shares such broker-dealer
or other financial institution may resell pursuant to such prospectus, as supplemented or amended to reflect such transaction
to the extent required. The Selling Stockholders may also pledge the Selling Stockholder Shares offered hereby to a broker-dealer
or other financial institution, and, upon a default, such broker-dealer or other financial institution, may effect sales of the
pledged Selling Stockholder Shares pursuant to the Resale Prospectus, as supplemented or amended to reflect such transaction to
the extent required.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> <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: 0pt 0; text-align: justify; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Selling Stockholders may enter into derivative transactions with third parties or sell their respective Selling Stockholder Shares
to third parties in privately negotiated transactions. If the applicable prospectus supplement indicates, in connection with those
derivatives, the third parties may sell the Selling Stockholder Shares covered by the Resale Prospectus and the applicable prospectus
supplement, including in short sale transactions. If so, the third party may use Selling Stockholder Shares pledged by a Selling
Stockholder or borrowed from a Selling Stockholder or others to settle those sales or to close out any related open borrowings
of stock and may use such Selling Stockholder Shares received from such Selling Stockholder in settlement of those derivatives
to close out any related open borrowings of stock. The third party in such sale transactions will be an underwriter and, if not
identified in the Resale Prospectus, will be identified in the applicable prospectus supplement (or a post-effective amendment).</FONT> </P>

<P STYLE="margin: 0pt 0"><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: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><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: 0pt 0; text-align: justify; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may authorize underwriters, dealers and agents to solicit from third parties offers to purchase Selling Stockholder Shares under
contracts providing for payment and delivery on future dates. The applicable prospectus supplement will describe the material
terms of these contracts, including any conditions to the purchasers&rsquo; obligations, and will include any required information
about commissions we may pay for soliciting these contracts.</FONT> </P>

<P STYLE="margin: 0pt 0">&nbsp;<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: 0pt 0; text-align: justify; background-color: white"><font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Agents,















underwriters and dealers may be entitled under agreements which may be entered into with us or the Selling Stockholders to indemnify















us or such Selling Stockholders against specified liabilities, including liabilities incurred under the Securities Act, or to















contribution by us or Selling Stockholders to payments it may be required to make in respect of such liabilities. The applicable















prospectus supplement will describe the terms and conditions of such indemnification or contribution. Some of the agents, underwriters















or dealers, or their affiliates may be customers of, engage in transactions with or perform services for us or our subsidiaries















in the ordinary course of business.</font></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><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: 0pt 0; text-align: justify; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the offering of the Selling Stockholder Shares, underwriters may purchase and sell shares of Common Stock in the
open market. These transactions may include short sales, stabilizing transactions and purchases to cover positions created by
short sales. Short sales involve the sale by underwriters of a greater number of shares than they are required to purchase in
connection with the offering of the Selling Stockholder Shares. &ldquo;Covered&rdquo; short sales are sales made in an amount
not greater than the underwriters&rsquo; option to purchase additional shares of Common Stock from the Selling Stockholders in
the offering of the Selling Stockholder Shares. Such underwriters may close out any covered short position by either exercising
their option to purchase additional shares of Common Stock or purchasing shares of Common Stock in the open market. In determining
the source of shares of Common Stock to close out the covered short position, such underwriters will consider, among other things,
the price of shares of Common Stock available for purchase in the open market as compared to the price at which they may purchase
shares of Common Stock through an over-allotment option, if any. &ldquo;Naked&rdquo; short sales are any sales in excess of such
option. Such underwriters must close out any naked short position by purchasing shares of Common Stock in the open market. A naked
short position is more likely to be created if the underwriters are concerned that there may be downward pressure on the price
of the Common Stock in the open market after pricing that could adversely affect investors who purchase shares of Common Stock
in the offering of the Selling Stockholder Shares. Stabilizing transactions consist of various bids for or purchases of Common
Stock made by such underwriters in the open market prior to the completion of the offering of the Selling Stockholder Shares.</FONT> </P>

<P STYLE="margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Such
underwriters may also impose a penalty bid. This occurs when a particular underwriter repays to other underwriters a portion of
the underwriting discount received by it because the representatives have repurchased shares of Common Stock sold by or for the
account of such underwriter in stabilizing or short covering transactions.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><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: 0pt 0; text-align: justify; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchases
to cover a short position and stabilizing transactions may have the effect of preventing or retarding a decline in the market
price of the Common Stock, and together with the imposition of the penalty bid, may stabilize, maintain or otherwise affect the
market price of the Common Stock. As a result, the price of the Common Stock may be higher than the price that otherwise might
exist in the open market. If these activities are commenced, they may be discontinued at any time.</FONT> </P>
































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Certain















underwriters, agents or dealers or their affiliates may have provided from time to time, and may provide in the future, investment,















commercial banking, derivatives and financial advisory services to the Company, the Selling Stockholders and their respective















affiliates in the ordinary course of business, for which they have received or may receive customary fees and commissions.</font></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> <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: 0pt 0; text-align: justify; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, a Selling Stockholder that is an entity may elect to make a pro rata in-kind distribution of securities to its members,
partners or stockholders pursuant to the registration statement of which the Resale Prospectus forms a part by delivering a prospectus.
Such members, partners or stockholders would thereby receive freely tradeable shares of Common Stock pursuant to the distribution
through such registration statement. To the extent a distributee is an affiliate of ours (or to the extent otherwise required
by law), we may file a prospectus supplement in order to permit the distributees to use such prospectus to resell such shares
of Common Stock acquired in such distribution.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><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: 0pt 0; text-align: justify; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Selling Stockholder Shares covered by the Resale Prospectus may also be sold in private transactions or under Rule 144 under the
Securities Act rather than pursuant to such prospectus.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"> &nbsp; </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>















































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b><a name="a018_v1"></a>UNDERWRITING</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase"><B>&nbsp;</b></font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We and the underwriters named below have entered into an underwriting agreement with respect to the IPO
Shares being offered pursuant to the IPO Prospectus. Subject to certain conditions, each underwriter has severally agreed to purchase
a number of IPO Shares indicated in the following table. A.G.P./Alliance Global Partners (&ldquo;A.G.P.&rdquo; or &ldquo;Representative&rdquo;)
is acting as the representative of the underwriters.&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><B>Underwriters</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>Number of</B> </P>


        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>IPO Shares</B> </P></TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 87%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 10%; text-align: right"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-size: 10pt">A.G.P./Alliance Global Partners</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-size: 10pt">Total</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 2.25pt double"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-size: 10pt">1,038,674</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> &nbsp; </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
underwriters are committed to take and pay for all of the securities being offered, other than the securities covered by the over-allotment
option described below, unless and until this option is exercised. The underwriting agreement also provides that if an underwriter
defaults, the purchase commitments of non-defaulting underwriters may also be increased or the offering may be terminated.</FONT> </P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We have granted the underwriters an
option to purchase from us up to an additional 155,801 IPO Shares within 45 days from the date of the IPO Prospectus solely to cover
over-allotments, if any, at the initial public offering price per IPO Share, less underwriting discounts and commissions. </P>









<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The following table shows the per IPO Share
and total underwriting discounts and commissions to be paid to the underwriters by us assuming both no exercise and full exercise
of the underwriters&rsquo; over-allotment option: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 94%; margin-left: 48px">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%"> &nbsp; </TD>
    <TD STYLE="width: 28%; border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Without Over-Allotment
    Exercise</B></FONT> </TD>
    <TD STYLE="width: 5%"> &nbsp; </TD>
    <TD STYLE="width: 28%; border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>With Over-Allotment
    Exercise</B></FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-size: 10pt">Per IPO Share <SUP>(1)</SUP></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-size: 10pt">$</FONT> </TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD> <FONT STYLE="font-size: 10pt">Total</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-size: 10pt">$</FONT> </TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60px; text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0"> &nbsp; </P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"> &nbsp; </P></TD>
    <TD STYLE="width: 30px; text-align: justify"> <FONT STYLE="font-size: 10pt"><SUP>(1)</SUP></FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-size: 10pt">Represents an underwriting discount equal to 7% per IPO Share,
    which is the underwriting discount we have agreed to pay for sales to investors in the IPO introduced by the underwriters.
    The fees do not include the Representative&rsquo;s Warrants or expense reimbursement provisions described below. In addition,
    the underwriters will not receive additional fees for the sale of IPO Shares in full satisfaction of the Investor Note and
    Director Note.</FONT> </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> IPO Shares sold by the underwriters to the public will initially be offered at the initial public offering
price set forth on the cover of the IPO Prospectus. Any IPO Shares sold by the underwriters to securities dealers may be sold at
a discount of up to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per IPO Share from the initial public offering price.
After the initial offering of IPO Shares, the representative may change the offering price and the other selling terms. The offering
of IPO Shares by the underwriters is subject to receipt and acceptance and subject to the underwriters&rsquo; right to reject any
order in whole or in part. Sales of IPO Shares made outside of the United States may be made by affiliates of the underwriters.&nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<!-- Field: Page; Sequence: 112; Value: 2 -->















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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->















<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Expense















Reimbursement</b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have agreed to pay or reimburse the underwriters for certain of their actual out-of-pocket fees and expenses, including &ldquo;road
show,&rdquo; diligence, filing fees and communication expenses associated with the review of this offering of IPO Shares by the Financial
Industry Regulatory Authority, Inc., and legal fees up to a maximum of $100,000. In the event of a termination of the offering,
the underwriters will be entitled to reimbursement of their actual out-of-pocket expenses, not to exceed $100,000. <FONT STYLE="background-color: white">Any
advance expense payment to the Representative from us will be reimbursed to us to the extent any portion thereof is not actually
incurred in compliance with FINRA Rule 5110(g)(4)(A).</FONT></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><B>Non-accountable
Expense Allowance</B></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In
connection with and upon closing of this offering, we shall pay to the Representative a non-accountable expense allowance equal
to 1% of the gross proceeds received by us from the sale of the securities in this offering.</FONT> </P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>Representative&rsquo;s















Warrants</i></b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the underwriting agreement, we will issue the Representative&rsquo;s Warrants to the underwriters
to purchase a number of shares of Common Stock equal to 5% of the total number of IPO Share sold in the IPO at an exercise price
equal to 125% of the price per IPO Share sold to investors in the offering of shares of Common Stock. The Representative&rsquo;s
Warrants may be exercised in cash or on a cashless basis, will be exercisable commencing six months following the commencement
of sales of IPO Shares registered on the registration statement of which the IPO Prospectus is a part and will expire five years
following the commencement of sales in the IPO, pursuant to FINRA Rule 5110(g)(8)(A). The Representative&rsquo;s Warrants and the
shares of Common Stock issuable upon exercise of the Representative&rsquo;s Warrants will be deemed compensation by FINRA, and
therefore will be subject to FINRA Rule 5110(e) (1)(A). In accordance with FINRA Rule 5110(e)(1)(A), neither the Representative&rsquo;s
Warrants nor any of the shares of Common Stock issued upon exercise of such warrants may be sold, transferred, assigned, pledged
or hypothecated, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective
economic disposition of such securities by any person, for a period of 180 days immediately following the commencement of sales
of IPO Shares registered on the registration statement of which this IPO Prospectus is a part, subject to certain exceptions. We
are registering the shares of Common Stock issuable upon exercise of the Representative&rsquo;s Warrants on this registration statement.&nbsp;
To the extent such shares are not registered pursuant to an effective registration statement, the Representative will have the
right to demand one registration of the sale of the underlying shares of Common Stock at the Company&rsquo;s expense, an additional
demand registration at the holders&rsquo; expense with a duration of not more than five years from the commencement of sales of
IPO Shares registered on this registration statement in compliance with FINRA Rule 5110(g)(8)(B)-(C), and unlimited &ldquo;piggyback&rdquo;
registration rights for a period of two (2) years after the Closing of the IPO at the Company&rsquo;s expense in compliance with
FINRA Rule 5110(g)(8)(D).&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Right of First Refusal</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have agreed to grant A.G.P., for the eighteen (18) month period from the closing of the IPO, a right of first refusal to act as
to act as sole managing underwriter and sole book runner, sole placement agent, or sole sales agent, for any and all future public
or private equity, equity-linked or debt (excluding commercial bank debt) offerings for which the Company retains the service
of an underwriter, agent, advisor, finder or other person or entity in connection with such offering during such eighteen (18)
month period of the Company, or any successor to or any subsidiary of the Company. The Company shall not offer to retain any entity
or person in connection with any such offering on terms more favorable than terms on which it offers to retain A.G.P. If we receive
offering terms from an institution other than A.G.P., we shall notify A.G.P. of such offering terms within five (5) business days
and A.G.P. shall have the first right to match the terms in compliance with FINRA Rule 5110(g)(6). If A.G.P. is unsuccessful in
matching the said offering terms, we will not be bounded by this right of first refusal and shall be allowed to engage the other
institution without any obligations to A.G.P.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Tail Fee</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have also agreed to pay A.G.P. a tail fee equal to the underwriting discount in this offering, if any investor, who was contacted
or introduced to us by A.G.P. during the term of their engagement who was not a prior investor in us, provides us with capital
in any public or private offering or other financing or capital raising transaction during the 12-month period following consummation
of this offering, subject to certain exceptions. In compliance with FINRA Rule 5110(g)(5)(B), we have a right to terminate the
engagement with A.G.P for cause, and upon such termination no tail fee shall be payable to A.G.P.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Lock-up Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> We have agreed with the underwriters
that we will not, without the prior consent of the representative, directly or indirectly sell, offer, contract or grant any option
to sell, pledge, transfer, or otherwise dispose of or enter into any transaction which may result in the disposition of any common
stock or securities convertible into, exchangeable or exercisable for any common stock for a period of six (6) months after the
closing of this offering, subject to certain exceptions. For the avoidance of doubt, the foregoing shall not prevent the Company
from entering into or drawing down on the proposed ELOC or issuing the shares of Common Stock issuable pursuant to the proposed
ELOC. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> All of our directors, executive officers
and, other than as indicated below, all holders of 5% or more of our capital stock prior to the IPO, have entered into lock-up
agreements with the underwriters pursuant to which they have agreed, subject to specific exceptions, not to directly or indirectly
sell, offer, contract or grant any option to sell, pledge, transfer (excluding intra-family transfers, transfers to a trust for
estate planning purposes or to beneficiaries of officers, directors and stockholders upon their death), or otherwise dispose of
or enter into any transaction which may result in the disposition of any common stock or securities convertible into, exchangeable
or exercisable for any common stock, without the prior written consent of the representative, for a period of six (6) months after
the closing date of the IPO. In addition, during the Leak-Out Period, all of our directors, executive officers and, all holders
of 5% or more of our capital stock prior to the IPO, shall be permitted to sell, dispose or otherwise transfer, directly or indirectly,
on any trading day, shares of Common Stock subject to the Leak-Out Restrictions. </P>

<P STYLE="margin: 0pt 0">&nbsp;&nbsp;</P>























<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Stabilization</b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> In connection with the IPO, the underwriters may engage in transactions that stabilize, maintain or otherwise
affect the price of our Common Stock. Specifically, the underwriters may over-allot in connection with this offering by selling
more IPO Shares than they are obligated to purchase under the underwriting agreement, creating a short position in
our securities. The short position may be either a covered short position or a naked short position. In a covered short position,
the number of securities over-allotted by the underwriters is not greater than the number of securities that they may purchase
in the over-allotment option. In a naked short position, the number of securities involved is greater than the number of securities
in the over-allotment option. To close out a short position or to stabilize the price per security the underwriters may bid for,
and purchase, securities in the open market. The underwriters may also elect to reduce any short position by exercising all or
part of the over-allotment option. In determining the source of securities to close out the short position, the underwriters will
consider, among other things, the price of the security available for purchase in the open market as compared to the price at which
it may purchase the security through the over-allotment option. If the underwriters sell more than could be covered by the over-allotment
option, a naked short position, the position can only be closed out by buying securities in the open market. A naked short position
is more likely to be created if the underwriters are concerned that there could be downward pressure on the price of the securities
in the open market after pricing that could adversely affect investors who purchase IPO Shares in the IPO.&nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















underwriters may also impose a penalty bid. This occurs when a particular underwriter repays to the underwriters a portion of















the underwriting discount received by it because the representative has repurchased securities sold by or for the account of such















underwriter in stabilizing or short covering transactions.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Finally,















the underwriters may bid for, and purchase, securities in market making transactions, including &ldquo;passive&rdquo; market making















transactions as described below.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















foregoing transactions may stabilize or maintain the market price of our securities at a price that is higher than the price that















might otherwise exist in the absence of these activities. The underwriters are not required to engage in these activities and















may discontinue any of these activities at any time without notice. These transactions may be effected on a national securities















exchange or otherwise.</font> </p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the IPO, the underwriters















and selling group members, if any, or their affiliates may engage in passive market making transactions in common stock on a national















securities exchange immediately prior to the commencement of sales in this offering of shares of Common Stock, in accordance with















Rule 103 of Regulation M under the Exchange Act. Rule 103 generally provides that:&nbsp;</P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>















<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellspacing="0" cellpadding="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">















<tr style="vertical-align: top">















    <td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td>















    <td><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a















passive market maker may not effect transactions or display bids for our common stock in excess of the highest independent bid















price by persons who are not passive market makers; net purchases by a passive market maker on each day are generally limited















to 30% of the passive market maker&rsquo;s average daily trading volume in our common share during a specified two-month prior















period or 200 shares, whichever is greater, and must be discontinued when that limit is reached; and</font></p></td></tr>















<tr style="vertical-align: top">















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td></tr>















<tr style="vertical-align: top">















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">passive market making















    bids must be identified as such.</font></td></tr>















</table>















<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Passive















market making may stabilize or maintain the market price of our Common Stock at a level above that which might otherwise prevail















and, if commenced, may be discontinued at any time.</font></p>















































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Indemnification</b></font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We















have agreed to indemnify the underwriters against certain liabilities, including liabilities under the Securities Act and liabilities















arising from breaches of representations and warranties contained in the underwriting agreement, or to contribute to payments















that the underwriters may be required to make in respect of those liabilities.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Determination















of Public Offering Price</b></font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to the IPO, there has not been a public market for our shares of Common Stock. The public offering price of the IPO Shares offered
by the IPO Prospectus has been determined by negotiation between us and the underwriters. Among the factors considered in determining
the public offering price of the IPO Shares were:&nbsp;</FONT> </P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<table cellspacing="0" cellpadding="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">















<tr style="vertical-align: top">















    <td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our history and















    our prospects;</font></td></tr>















<tr style="vertical-align: top">















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td></tr>















<tr style="vertical-align: top">















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our financial information















    and historical performance;</font></td></tr>















<tr style="vertical-align: top">















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td></tr>















<tr style="vertical-align: top">















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the industry in















    which we operate;</font></td></tr>















<tr style="vertical-align: top">















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td></tr>















<tr style="vertical-align: top">















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td>















    <TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the status and development















    prospects for our products and services;</font></td></tr>















</table>































<p style="margin: 0; text-indent: 0">&nbsp;</p>































<p style="margin: 0; text-indent: 0"></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="margin: 0; text-indent: 0">&nbsp;</p>































































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 24px">&nbsp;</TD>















    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the experience and skills of our executive officers; and</FONT></TD></TR>















<TR STYLE="vertical-align: top">















    <TD STYLE="text-align: justify">&nbsp;</TD>















    <TD STYLE="text-align: justify">&nbsp;</TD>















    <TD STYLE="text-align: justify">&nbsp;</TD></TR>















<TR STYLE="vertical-align: top">















    <TD STYLE="text-align: justify">&nbsp;</TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the general condition of the securities markets at the time















    of the IPO.</FONT></TD></TR>















</TABLE>















































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















offering price stated on the cover page of this prospectus should not be considered an indication of the actual value of the securities.















That price is subject to change as a result of market conditions and other factors, and we cannot assure you that the securities















can be resold at or above the public offering price.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Listing</b></font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have applied to list our shares of Common Stock on the NYSE American under the symbol &ldquo;CHRO&rdquo;.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Electronic















Distribution</b></font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A















prospectus in electronic format may be made available on websites or through other online services maintained by the underwriters















of this offering, or by its affiliates. Other than the prospectus in electronic format, the information on the underwriters&rsquo;















website and any information contained in any other website maintained by an underwriter is not part of this prospectus or the















registration statement of which this prospectus forms a part, has not been approved and/or endorsed by us or the underwriters















in their capacity as underwriters, and should not be relied upon by investors.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Other















Relationships</b></font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Certain affiliates of A.G.P. acquired
an aggregate of 27,782 shares of our Common Stock (after giving effect to the Reverse Stock Split) in connection with the disaggregation
of Flamands from the Company in December 2022. In November 2023, these affiliates of A.G.P. exercised previously negotiated rights
in connection with our Rights Offering and purchased an additional 83,347 shares of our Common Stock (after giving effect to the
Reverse Stock Split). The securities acquisitions in the Rights Offering were based on a prior investment history, meaning they
were based on and subject to those rights and terms attendant to the shares of Common Stock previously acquired by such affiliated
parties before the closing of the Rights Offering, and those shares were offered to and acquired by such parties to prevent dilution.
In addition, certain of such affiliates of A.G.P. hold senior secured convertible notes in the aggregate principal amount of $4,757
acquired in connection with the April Bridge Financing and the September Bridge Financing, which will automatically convert into
shares of Common Stock at the IPO at a twenty percent (20%) discount to the price per IPO Share (991 shares, assuming an initial
public offering price of $6.00 per IPO Share, the midpoint of the price range set forth on the cover page of the IPO Prospectus,
and including interests calculated to and through January 31, 2024). </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The underwriters have informed us that
they do not expect to confirm sales of our IPO Shares offered by this prospectus to any accounts over which they exercise discretionary
authority.&nbsp; </P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Some















of the underwriters and their affiliates may in the future engage in investment banking and other commercial dealings in the ordinary















course of business with us or our affiliates. They may in the future receive customary fees and commissions for these transactions.















In addition, in the ordinary course of their business activities, the underwriters and their affiliates may make or hold a broad















array of investments and actively trade debt and equity securities (or related derivative securities) and financial instruments















(including bank loans) for their own account and for the accounts of their customers. Such investments and securities activities















may involve securities and/or instruments of ours or our affiliates. The underwriters and their affiliates may also make investment















recommendations and/or publish or express independent research views in respect of such securities or financial instruments and















may hold, or recommend to clients that they acquire, long and/or short positions in such securities and instruments.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















underwriters and their respective affiliates are full service financial institutions engaged in various activities, which may















include sales and trading, commercial and investment banking, advisory, investment management, investment research, principal















investment, hedging, market making, brokerage and other financial and non-financial activities and services. Certain of the underwriters















and their respective affiliates have provided, and may in the future provide, a variety of these services to the issuer and to















persons and entities with relationships with the issuer, for which they received or will receive customary fees and expenses.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In















the ordinary course of their various business activities, the underwriters and their respective affiliates, officers, directors















and employees may purchase, sell or hold a broad array of investments and actively trade securities, derivatives, loans, commodities,















currencies, credit default swaps and other financial instruments for their own account and for the accounts of their customers,















and such investment and trading activities may involve or relate to assets, securities or instruments of the issuer (directly,















as collateral securing other obligations or otherwise) or persons and entities with relationships with the issuer. The underwriters















and their respective affiliates may also communicate independent investment recommendations, market color or trading ideas or















publish or express independent research views in respect of such assets, securities or instruments and may at any time hold, or















recommend to clients that they should acquire, long and/or short positions in such assets, securities and instruments.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;&nbsp;</p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<!-- Field: Page; Sequence: 115; Value: 2 -->















    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->108<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0; background-color: white"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Selling















Restrictions</b></font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0; background-color: white"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0; background-color: white"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
prospectus does not constitute an offer to sell to, or a solicitation of an offer to buy from, anyone in any country or jurisdiction
(i)&nbsp;in which such an offer or solicitation is not authorized, (ii)&nbsp;in which any person making such offer or solicitation
is not qualified to do so or (iii)&nbsp;in which any such offer or solicitation would otherwise be unlawful. No action has been
taken that would, or is intended to, permit a public offer of IPO Shares or possession or distribution of this prospectus or any
other offering or publicity material relating to the IPO Shares in any country or jurisdiction (other than the U.S.) where any
such action for that purpose is required. Accordingly, each underwriter has undertaken that it will not, directly or indirectly,
offer or sell any IPO Shares or have in its possession, distribute or publish any prospectus, form of application, advertisement
or other document or information in any country or jurisdiction except under circumstances that will, to the best of its knowledge
and belief, result in compliance with any applicable laws and regulations and all offers and sales of IPO Shares by it will be
made on the same terms.</FONT> </P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><u>Switzerland</u></font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This















prospectus is not intended to constitute an offer or solicitation to purchase or invest in the securities described herein. The















securities may not be publicly offered, directly or indirectly, in Switzerland within the meaning of the Swiss Financial Services















Act, or FinSA, and will not be listed on the SIX Swiss Exchange or on any other exchange or regulated trading facility in Switzerland.















Neither this prospectus nor any other offering or marketing material relating to the securities constitutes a prospectus as such















term is understood pursuant to the FinSA, and neither this prospectus nor any other offering or marketing material relating to















the securities may be publicly distributed or otherwise made publicly available in Switzerland.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><u>European















Economic Area</u></font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In















relation to each Member State of the European Economic Area (each a &ldquo;Relevant State&rdquo;), no securities have been offered















or will be offered pursuant to this offering to the public in that Relevant State prior to the publication of a prospectus in















relation to the securities which has been approved by the competent authority in that Relevant State or, where appropriate, approved















in another Relevant State and notified to the competent authority in that Relevant State, all in accordance with the Prospectus















Regulation, except that the securities may be offered to the public in that Relevant State at any time:</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)















to any legal entity which is a qualified investor as defined under Article 2 of the Prospectus Regulation;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)















to fewer than 150 natural or legal persons (other than qualified investors as defined under Article 2 of the Prospectus Regulation),















subject to obtaining the prior consent of the representative for any such offer; or</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)















in any other circumstances falling within Article 1(4) of the Prospectus Regulation,</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">provided















that no such offer of the securities shall require the company or any underwriter to publish a prospectus pursuant to Article















3 of the Prospectus Regulation or supplement a prospectus pursuant to Article 23 of the Prospectus Regulation.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For















the purposes of this provision, the expression an &ldquo;offer to the public&rdquo; in relation to the securities in any Relevant















State means the communication in any form and by any means of sufficient information on the terms of the offer and any shares















to be offered so as to enable an investor to decide to purchase or subscribe for any securities, and the expression &ldquo;Prospectus















Regulation&rdquo; means Regulation (EU) 2017/1129.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><u>United















Kingdom</u></font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No















securities have been offered or will be offered pursuant to this offering to the public in the United Kingdom prior to the publication















of a prospectus in relation to the securities which has been approved by the Financial Conduct Authority, except that the shares















may be offered to the public in the United Kingdom at any time:</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)















to any legal entity which is a qualified investor as defined under Article 2 of the UK Prospectus Regulation;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)















to fewer than 150 natural or legal persons (other than qualified investors as defined under Article 2 of the UK Prospectus Regulation),















subject to obtaining the prior consent of the representative for any such offer; or</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)















in any other circumstances falling within Section 86 of the UK&rsquo;s Financial Services and Markets Act 2000, as amended, or















FSMA.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">provided















that no such offer of the shares shall require the company or any underwriter to publish a prospectus pursuant to Section 85 of















the FSMA or supplement a prospectus pursuant to Article 23 of the UK Prospectus Regulation.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For















the purposes of this provision, the expression an &ldquo;offer to the public&rdquo; in relation to the securities in the United















Kingdom means the communication in any form and by any means of sufficient information on the terms of the offer and any securities















to be offered so as to enable an investor to decide to purchase or subscribe for any securities and the expression &ldquo;UK Prospectus















Regulation&rdquo; means Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal)















Act 2018.</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















communication of this prospectus and any other document or materials relating to the issue of the securities offered hereby is















not being made, and such documents and/or materials have not been approved, by an authorized person for the purposes of section















21 of the FSMA. Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general















public in the UK. The communication of such documents and/or materials as a financial promotion is only being made to and directed















at persons outside the UK and those persons in the UK who have professional experience in matters relating to investments and















who fall within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets















Act 2000 (Financial Promotion) Order 2005, as amended (the &ldquo;Financial Promotion Order&rdquo;)), or who fall within Article















49(2)(a) to (d) of the Financial Promotion Order, or who are any other persons to whom it may otherwise lawfully be made under















the Financial Promotion Order (all such persons together being referred to as &ldquo;relevant persons&rdquo;). In the UK, the















securities offered hereby are only available to, and any investment or investment activity to which this prospectus relates will















be engaged only with, relevant persons. Any person in the UK that is not a relevant person should not act or rely on this prospectus















or any of its contents. Each underwriter has represented, warranted and agreed that it has only communicated or caused to be communicated















and will only communicate or cause to be communicated an invitation or inducement to engage in investment activity (within the















meaning of Section 21 of the FSMA) received by it in connection with the issue or sale of the securities in circumstances in which















Section 21(1) of the FSMA does not apply to the company; and it has complied with and will comply with all applicable provisions















of the FSMA with respect to anything done by it in relation to the securities in, from or otherwise involving the UK.</font></p>































<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>















































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0">&nbsp;</p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="a019_v1"></a>LEGAL















MATTERS</FONT></P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Certain legal matters concerning this
offering will be passed upon for us by Sullivan &amp; Worcester LLP, New&nbsp;York, New York. Certain legal matters related to
the offering will be passed upon for the underwriters by Manatt, Phelps &amp; Philips, LLP, Costa Mesa, California. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Interests of named experts and counsel</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> David Danovitch and John Riley, partner
and of counsel of Sullivan &amp; Worcester LLP, respectively, own 65,728 and 110,807 shares of our Common Stock (after giving
effect to the Reverse Stock Split), respectively, and each holds senior secured convertible notes in the amount of $18,406 and
$12,152, including principal and interest, respectively, that will each automatically convert into shares of Common Stock at the
initial public offering. </P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="a020_v1"></a>EXPERTS</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The financial statements of Chromocell Therapeutics Corporation as of December 31, 2022 and 2021 and for















each of the two years in the period ended December 31, 2022, appearing in this prospectus have been audited by Marcum LLP, independent















registered public accounting firm, as set forth in their report thereon (which contains an explanatory paragraph relating to substantial















doubt about the ability of Chromocell Therapeutics Corporation to continue as a going concern as described in Note 2 to the financial















statements and an emphasis of matter paragraph related to the preparation of certain financial statements on a carve-out basis















as described in Note 4), appearing elsewhere in this prospectus, and are included in reliance upon such report given on the authority















of such firm as experts in accounting and auditing.</font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="a021_v1"></a>WHERE















YOU CAN FIND MORE INFORMATION</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have filed with the SEC a registration















statement on Form&nbsp;S-1&nbsp;under the Securities Act with respect to the securities offered by this prospectus. This prospectus,















which constitutes a part of the registration statement, does not contain all of the information set forth in the registration















statement, some of which is contained in exhibits to the registration statement as permitted by the rules and regulations of the















SEC. For further information with respect to us and these securities, we refer you to the registration statement, including the















exhibits filed as a part of the registration statement. Statements contained in this prospectus concerning the contents of any















contract or any other document are not necessarily complete. If a contract or document has been filed as an exhibit to the registration















statement, please see the copy of the contract or document that has been filed. Each statement in this prospectus relating to















a contract or document filed as an exhibit is qualified in all respects by the filed exhibit. The SEC maintains an Internet website















that contains reports, proxy statements and other information about issuers, like us, that file electronically with the SEC. The















address of that website is www.sec.gov.</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>















































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a result of the IPO, we will become















subject to the information and reporting requirements of the Exchange Act and, in accordance with this law, will file periodic















reports, proxy statements and other information with the SEC. These periodic reports, proxy statements and other information will















be available for inspection and copying at the SEC&rsquo;s public reference facilities and the website of the SEC referred to















above. We also maintain a website at <U>www.chromocell.com</U>. Upon completion of the IPO, you may access these materials free















of charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC. Information contained















on our website is not a part of this prospectus and the inclusion of our website address in this prospectus is an inactive textual















reference only.</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>















































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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT></P>


<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT></P>















































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"></p>















































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Chromocell















Therapeutics Corporation</b></font><br>















<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><a name="a022_v1"></a>Index to Financial Statements</b></font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">















<tr style="vertical-align: top; background-color: rgb(204,238,255)">















    <td style="width: 79%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#b001_v1"><B>Report
    of Independent Registered Public Accounting Firm (PCAOB ID Number 688)</B></A></FONT> </td>















    <td style="width: 21%; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-2</FONT> </td></tr>















<tr style="vertical-align: top; background-color: White">















    <td> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </td>















    <td style="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </td></tr>















<tr style="vertical-align: top; background-color: rgb(204,238,255)">















    <td> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Audited Financial Statements</B></FONT> </td>















    <td> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </td></tr>















<tr style="vertical-align: top; background-color: White">















    <td> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </td>















    <td> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </td></tr>















<tr style="vertical-align: top; background-color: rgb(204,238,255)">















    <td style="padding-left: 9pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#b002_v1">Balance
    Sheet</A></FONT> </td>















    <td style="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-3</FONT> </td></tr>















<tr style="vertical-align: top; background-color: White">















    <td style="padding-left: 9pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#b003_v1">Statements
    of Operations</A></FONT> </td>















    <td style="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-4</FONT> </td></tr>















<tr style="vertical-align: top; background-color: rgb(204,238,255)">















    <td style="padding-left: 9pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#b004_v1">Statements
    of Changes in Stockholders&rsquo; / Parent&rsquo;s Net Deficit</A></FONT> </td>















    <td style="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-5</FONT> </td></tr>















<tr style="vertical-align: top; background-color: White">















    <td style="padding-left: 9pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#b005_v1">Statements
    of Cash Flows</A></FONT> </td>















    <td style="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-7</FONT> </td></tr>















<tr style="vertical-align: top; background-color: rgb(204,238,255)">















    <td style="padding-left: 9pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </td>















    <td style="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </td></tr>















<tr style="vertical-align: top; background-color: White">















    <td> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#b006_v1"><B>Notes to Financial
    Statements</B></A></FONT> </td>















    <td style="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-8</FONT> </td></tr>















</table>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b></b></font></p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>&nbsp;</B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B></B></FONT></P>































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">















<TR STYLE="vertical-align: top; background-color: white">















    <TD STYLE="width: 79%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Interim Financial Statements</B></FONT> </TD>















    <TD STYLE="text-align: center; width: 21%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>















<TR STYLE="vertical-align: top; background-color: #CCEEFF">















    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B>&nbsp;</FONT> </TD>















    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>















<TR STYLE="vertical-align: top; background-color: white">















    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#b007_v1">Unaudited Condensed Interim
    Balance Sheet </A></FONT> </TD>















    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;F-18</FONT> </TD></TR>















<TR STYLE="vertical-align: top; background-color: #CCEEFF">















    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#b008_v1">Unaudited Condensed Interim
    Statements of Operations</A></FONT> </TD>















    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;F-19</FONT> </TD></TR>















<TR STYLE="vertical-align: top; background-color: white">















    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#b009_v1">Unaudited Condensed Interim
    Statements of Changes in Stockholder&rsquo;s / Parent&rsquo;s Net Deficit</A></FONT> </TD>















    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;F-20</FONT> </TD></TR>















<TR STYLE="vertical-align: top; background-color: #CCEEFF">















    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#b010_v1">Unaudited Condensed Interim
    Statements of Cash Flows</A></FONT> </TD>















    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;F-21</FONT> </TD></TR>















<TR STYLE="vertical-align: top; background-color: white">















    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>















    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>















<TR STYLE="vertical-align: top; background-color: #CCEEFF">















    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#b011_v1"><B>Unaudited Condensed
    Notes to Financial Statements</B></A></FONT> </TD>















    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;F-22</FONT> </TD></TR>















</TABLE>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&nbsp;</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><b><A NAME="b001_v1"></A>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING















FIRM</b></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0">To the Stockholders and Board of Directors of</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0">Chromocell Therapeutics Corporation</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"> Freehold, New Jersey </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opinion















on the Financial Statements</b></font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We















have audited the accompanying balance sheet<b>s</b> of Chromocell Therapeutics Corporation (the &ldquo;Company&rdquo;) as of December















31, 2022 and 2021, the related statements of operations, changes in stockholders&rsquo; / parent&rsquo;s net deficit and cash















flows for each of the two years in the period ended December 31, 2022, and the related notes (collectively referred to as the















&ldquo;financial statements&rdquo;). In our opinion, the financial statements present fairly, in all material respects, the financial















position of the Company as December 31, 2022 and 2021, and the results of its operations and its cash flows for each of the two















years in the period ended December 31, 2022, in conformity with accounting principles generally accepted in the United States















of America.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Explanatory















Paragraph &ndash; Going Concern</B></FONT></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As more fully















described in Note 2, the Company has incurred significant losses and needs to raise additional funds to meet its obligations and















sustain its operations. These conditions raise substantial doubt about the Company&rsquo;s ability to continue as a going concern. Management&rsquo;s















plans in regard to these matters are also described in Note 2 The financial statements do not include any adjustments that might















result from the outcome of this uncertainty.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basis















for Opinion</b></font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These















financial statements are the responsibility of the Company&rsquo;s management. Our responsibility is to express an opinion on the Company&rsquo;s















financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight















Board (United States) (&ldquo;PCAOB&rdquo;) and are required to be independent with respect to the Company in accordance with the















U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We















conducted our audit<b>s</b> in accordance with the standards of the PCAOB. Those standards require that we plan and perform the















audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to















error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial















reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not















for the purpose of expressing an opinion on the effectiveness of the Company&rsquo;s internal control over financial reporting. Accordingly,















we express no such opinion.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our















audit<b>s</b> included performing procedures to assess the risks of material misstatement of the financial statements, whether















due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis,















evidence regarding the amounts and disclosures in the financial statements. Our audit<b>s</b> also included evaluating the accounting















principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial















statements. We believe that our audit<b>s</b> provide a reasonable basis for our opinion.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Emphasis















of Matter</b></font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As















discussed in Note 4 the financial statements for the period from January 1, 2022 to August&nbsp;10, 2022, as of December 31, 2021,















and for the year ended December 31, 2021 have been prepared on a &ldquo;carve-out&rdquo; basis from the financial statements of















Chromocell Holdings to reflect the assets, liabilities, revenues and expenses of Chromocell Therapeutics Corporation as well as















allocations deemed reasonable by management to present the results of operations, financial position and cash flows of Chromocell















Therapeutics Corporation on a standalone basis and may not reflect Chromocell Therapeutics Corporation results of operations,















financial position and cash flows had the Company operated as a standalone company during the periods presented. Our Opinion is















not modified with respect to this matter.</font> </p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0">&nbsp;</p>































<p style="text-indent: 0; font: 10pt Times New Roman, Times, Serif; margin: 0">/s/ Marcum <font style="font-variant: small-caps">llp</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><font style="font-variant: small-caps">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">Marcum <font style="font-variant: small-caps">llp</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><font style="font-variant: small-caps">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">We have served as the Company&rsquo;s auditor since 2021.</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><font style="font-variant: small-caps">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">Houston, Texas</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">May 1, 2023</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></font></p>































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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHROMOCELL















THERAPEUTICS CORPORATION</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="b002_v1"></a>BALANCE















SHEETS</font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">















<tr style="vertical-align: bottom">















    <td style="text-align: center"> &nbsp; </td><td style="font-weight: bold"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center"> December 31, </td><td style="font-weight: bold"> &nbsp; </td><td style="font-weight: bold"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center"> December 31, </td><td style="font-weight: bold"> &nbsp; </td></tr>















<tr style="vertical-align: bottom">















    <td style="text-align: center"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> 2022 </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> 2021 </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-decoration: underline; text-align: center"> ASSETS </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left"> CURRENT ASSETS </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="width: 68%; padding-bottom: 1pt"> Cash </td><td style="width: 1%; padding-bottom: 1pt"> &nbsp; </td>















    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"> $ </td><td style="width: 13%; border-bottom: Black 1pt solid; text-align: right"> 55,074 </td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> &nbsp; </td><td style="width: 1%; padding-bottom: 1pt"> &nbsp; </td>















    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"> $ </td><td style="width: 13%; border-bottom: Black 1pt solid; text-align: right"> - </td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt"> TOTAL CURRENT ASSETS </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> 55,074 </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> - </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"> TOTAL ASSETS </td><td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> $ </td><td style="border-bottom: Black 2.5pt double; text-align: right"> 55,074 </td><td style="padding-bottom: 2.5pt; text-align: left"> &nbsp; </td><td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> $ </td><td style="border-bottom: Black 2.5pt double; text-align: right"> - </td><td style="padding-bottom: 2.5pt; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font-weight: bold; text-decoration: underline; text-align: center"> LIABILITIES AND STOCKHOLDERS&rsquo; / PARENT&rsquo;S















    NET DEFICIT </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font-weight: bold; text-align: left"> CURRENT LIABILITIES </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left"> Accounts payable and accrued expenses </td><td> &nbsp; </td>















    <td style="text-align: left"> $ </td><td style="text-align: right"> 2,993,920 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> $ </td><td style="text-align: right"> 2,580,317 </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left"> Accrued compensation </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 221,875 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left"> Bridge loan, net of debt discount </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 435,630 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left"> Loan payable - related party, net of debt discount </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 104,800 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; padding-bottom: 1pt"> Due to parent </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> 5,386 </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> - </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt"> TOTAL CURRENT LIABILITIES </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> 3,761,611 </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> 2,580,317 </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-bottom: 1pt"> Advance from Chromocell Corporation </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> - </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> 1,099,950 </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt"> TOTAL LIABILITIES </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> 3,761,611 </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> 3,680,267 </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font-weight: bold; text-align: left"> COMMITMENTS AND CONTINGENCIES </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font-weight: bold; text-align: left"> STOCKHOLDERS&rsquo; / PARENT&rsquo;S NET DEFICIT </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; padding-left: 9pt"> Preferred stock, $0.001 par value, 700,000 shares authorized, 600,000 and 0 shares issued and outstanding















as of December 31, 2022 and 2021, respectively </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 600 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-left: 9pt"> Common stock, $0.001 par value, 100,000,000 shares authorized, 10,000,000 and 0 shares issued and outstanding















as of December 31, 2022 and 2021, respectively </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 10,000 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; padding-left: 9pt"> Additional paid in capital </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 2,421,719 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-bottom: 1pt; text-indent: 9pt"> Accumulated / parent&rsquo;s net deficit </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> (6,138,856 </td><td style="padding-bottom: 1pt; text-align: left"> ) </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> (3,680,267 </td><td style="padding-bottom: 1pt; text-align: left"> ) </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left; padding-bottom: 1pt"> TOTAL STOCKHOLDERS&rsquo; / PARENT&rsquo;S NET DEFICIT </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> (3,706,537 </td><td style="padding-bottom: 1pt; text-align: left"> ) </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> (3,680,267 </td><td style="padding-bottom: 1pt; text-align: left"> ) </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="padding-left: 27pt"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"> TOTAL LIABILITIES AND STOCKHOLDERS&rsquo; / PARENT&rsquo;S















    NET DEFICIT </td><td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> $ </td><td style="border-bottom: Black 2.5pt double; text-align: right"> 55,074 </td><td style="padding-bottom: 2.5pt; text-align: left"> &nbsp; </td><td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> $ </td><td style="border-bottom: Black 2.5pt double; text-align: right"> - </td><td style="padding-bottom: 2.5pt; text-align: left"> &nbsp; </td></tr>















</table>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0">&nbsp;</p>















































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















accompanying notes are an integral part to these financial statements.</font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>















































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><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: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHROMOCELL















THERAPEUTICS CORPORATION</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="b003_v1"></a>STATEMENTS















OF OPERATIONS</font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"></p>































<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">















<tr style="vertical-align: bottom">















    <td> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font> </td><td style="font-weight: bold"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td colspan="2" style="font-weight: bold; text-align: center"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">For















    the Year Ended</font></font> </td><td style="font-weight: bold"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="font-weight: bold"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td colspan="2" style="font-weight: bold; text-align: center"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">For















    the Year Ended</font></font> </td><td style="font-weight: bold"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom">















    <td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="font-weight: bold; padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">December















    31, 2022</font></font> </td><td style="padding-bottom: 1pt; font-weight: bold"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="font-weight: bold; padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">December















    31, 2021</font></font> </td><td style="padding-bottom: 1pt; font-weight: bold"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom">















    <td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td colspan="2" style="text-align: center"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td colspan="2" style="text-align: center"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">OPERATING















    EXPENSES</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="width: 68%; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">General















    and administrative expenses</font></font> </td><td style="width: 1%"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="width: 1%; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">$</font></font> </td><td style="width: 13%; text-align: right"><p style="margin: 0pt 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,098,848</font> </p>















































</td><td style="width: 1%; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="width: 1%"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="width: 1%; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">$</font></font> </td><td style="width: 13%; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">496,667</font></font> </td><td style="width: 1%; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Research















    and development</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">391,730</font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">209,047</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Professional















    fees</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"><p style="margin: 0pt 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">827,581</font> </p>















































</td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">133,282</font></font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Total















    operating expenses</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"><p style="margin: 0pt 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,318,159</font> </p>















































</td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">838,996</font></font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">NET















    LOSS FROM OPERATIONS</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"><p style="margin: 0pt 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,318,159</font> </p>















































</td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">)</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">(838,996</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">)</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">OTHER















    (EXPENSE) INCOME</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Interest















    expense</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(140,430</font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">)</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">(253</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">)</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Gain















    on forgiveness of PPP loan</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">243,862</font></font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Total















    other (expense) income</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(140,430</font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">)</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">243,609</font></font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Net















    loss before provision for income taxes</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"><p style="margin: 0pt 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,458,589</font> </p>















































</td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">)</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">(595,387</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">)</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Provision















    for income taxes</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">NET















    LOSS</font></font> </td><td style="padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">$</font></font> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><p style="margin: 0pt 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,458,589</font> </p>















































</td><td style="padding-bottom: 2.5pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">)</font></font> </td><td style="padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">$</font></font> </td><td style="border-bottom: Black 2.5pt double; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">(595,387</font></font> </td><td style="padding-bottom: 2.5pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">)</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Net















    loss per common share - basic and diluted</font></font> </td><td style="padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">$</font></font> </td><td style="border-bottom: Black 2.5pt double; text-align: right"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.63</font> </td><td style="padding-bottom: 2.5pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">)</font></font> </td><td style="padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">$</font></font> </td><td style="border-bottom: Black 2.5pt double; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="padding-bottom: 2.5pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Weighted















    average number of common shares outstanding during the year - basic and diluted</font></font> </td><td style="padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 2.5pt double; text-align: right"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,917,808</font> </td><td style="padding-bottom: 2.5pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 2.5pt double; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="padding-bottom: 2.5pt; text-align: left"> <font style="font-family: Times New Roman, Times, Serif">&nbsp;</font> </td></tr>















</table>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"></p>















































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0">&nbsp;<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font>&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















accompanying notes are an integral part to these financial statements.</font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><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-top: 0pt; text-align: center; margin-bottom: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<p style="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHROMOCELL















THERAPEUTICS CORPORATION&nbsp;</font> </p>































<p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="b004_v1"></a>STATEMENT















OF CHANGES IN STOCKHOLDERS&rsquo; DEFICIT</font> </p>































<p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt"> <font style="font: 10pt Times New Roman, Times, Serif">FOR THE YEAR ENDED DECEMBER 31, 2022</font> </p>































<p style="margin: 0pt 0">&nbsp;</p>































<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">















<tr style="vertical-align: bottom">















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-left: 0.125in; text-indent: -0.125in"> &nbsp; </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Common<br>















    Shares </td><td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Par </td><td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Preferred<br>















    Shares </td><td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Preferred<br>















    Shares<br> Par </td><td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Additional<br>















    Paid-in<br> Capital </td><td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Accumulated<br>















    Deficit </td><td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"> Total<br>















    Stockholders&rsquo;<br> Deficit </td><td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> &nbsp; </td></tr>















<tr style="vertical-align: bottom">















    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="width: 37%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-indent: -0.125in; padding-left: 0.125in"> Balance,















    December&nbsp;31, 2021 </td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"></td><td style="width: 6%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </td><td style="width: 6%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"></td><td style="width: 6%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </td><td style="width: 6%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </td><td style="width: 6%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </td><td style="width: 6%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> (3,680,267 </td><td style="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> ) </td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </td><td style="width: 6%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> (3,680,267 </td><td style="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> ) </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.125in; padding-left: 0.125in"> Fair value















    of shares issued in contribution agreement </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> 10,000,000 </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> 10,000 </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> 600,000 </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> 600 </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> 1,889,400 </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> 1,900,000 </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.125in; padding-left: 0.125in"> Net contributions















    from Chromocell Corporation </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> 422,173 </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> 422,173 </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.125in; padding-left: 0.125in"> Stock-based















    compensation </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> 110,146 </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> 110,146 </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in"> Net















    loss </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> - </td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> (2,458,589 </td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> ) </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> (2,458,589 </td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> ) </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif"> &nbsp; </td>















    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in"> Balance,















    December 31, 2022 </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 10,000,000 </td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 10,000 </td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 600,000 </td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 600 </td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> 2,421,719 </td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> &nbsp; </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> (6,138,856 </td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> ) </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> (3,706,537 </td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> ) </td></tr>















</table>















































<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















accompanying notes are an integral part to these financial statements.</font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>















































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHROMOCELL















THERAPEUTICS CORPORATION</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">STATEMENT















OF CHANGES IN PARENT&rsquo;S NET DEFICIT&nbsp;</font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">















<tr style="vertical-align: bottom">















    <td> &nbsp; </td><td style="font-weight: bold"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center"> For the Year Ended </td><td style="font-weight: bold"> &nbsp; </td></tr>















<tr style="vertical-align: bottom">















    <td> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> December 31, 2021 </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td></tr>















<tr style="vertical-align: bottom">















    <td> &nbsp; </td><td> &nbsp; </td>















    <td colspan="2"> &nbsp; </td><td> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="width: 84%; font-weight: bold; text-align: left"> Parent&rsquo;s net deficit, beginning of year </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 13%; text-align: right"> (3,577,941 </td><td style="width: 1%; text-align: left"> ) </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left"> Net loss </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (595,387 </td><td style="text-align: left"> ) </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left"> Net contribution from Chromocell Corporation </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 493,061 </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="padding-bottom: 1pt"> &nbsp; </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> &nbsp; </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"> Parent&rsquo;s net deficit, end of period </td><td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> $ </td><td style="border-bottom: Black 2.5pt double; text-align: right"> (3,680,267 </td><td style="padding-bottom: 2.5pt; text-align: left"> ) </td></tr>















</table>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















accompanying notes are an integral part to these financial statements.</font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>















































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><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: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHROMOCELL















THERAPEUTICS CORPORATION</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a name="b005_v1"></a>STATEMENTS















OF CASH FLOWS</font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">















<tr style="vertical-align: bottom">















    <td style="text-align: center; padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font> </td><td style="font-weight: bold"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td colspan="2" style="font-weight: bold; text-align: center"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">For















    the Year Ended</font></font> </td><td style="font-weight: bold"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="font-weight: bold"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td colspan="2" style="font-weight: bold; text-align: center"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">For















    the Year Ended</font></font> </td><td style="font-weight: bold"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom">















    <td style="padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="font-weight: bold; padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">December















    31, 2022</font></font> </td><td style="padding-bottom: 1pt; font-weight: bold"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="font-weight: bold; padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">December















    31, 2021</font></font> </td><td style="padding-bottom: 1pt; font-weight: bold"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left; padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">CASH















    FLOWS FROM OPERATING ACTIVITIES:</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="width: 68%; text-align: left; padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Net















    loss</font></font> </td><td style="width: 1%"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="width: 1%; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">$</font></font> </td><td style="width: 13%; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">(2,458,589</font></font> </td><td style="width: 1%; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">)</font></font> </td><td style="width: 1%"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="width: 1%; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">$</font></font> </td><td style="width: 13%; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">(595,387</font></font> </td><td style="width: 1%; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">)</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left; padding-left: 0.25in; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Adjustments















    to reconcile net loss to net cash used in operating activities</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-left: 0.375in; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Forgiveness















    of PPP loan</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">(241,793</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">)</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; padding-left: 0.375in; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Amortization















    of debt discount</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">140,430</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-left: 0.375in; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Stock-based















    compensation</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">110,146</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left; padding-left: 0.25in; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Changes















    in operating assets and liabilities:</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-left: 0.375in; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Security















    deposit</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">71,872</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; padding-left: 0.375in; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Accounts















    payable and accrued expenses</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">413,603</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">(827,703</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">)</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-left: 0.375in; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Accrued















    compensation</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">221,875</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.375in; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Due















    to parent</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">5,386</font></font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.5in; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Net















    Cash Used In Operating Activities</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">(1,567,149</font></font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">)</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">(1,593,011</font></font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">)</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font-weight: bold; text-align: left; padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">CASH















    FLOWS FROM FINANCING ACTIVITIES:</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Proceeds















    from loan payable - related party, net of debt discount</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">100,000</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Proceeds















    from bridge loan, net of debt discount</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">300,000</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Net















    contribution from Chromocell Corporation</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">422,173</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">493,061</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-bottom: 1pt; padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Advance















    from Chromocell Corporation</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">800,050</font></font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">1,099,950</font></font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.5in; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Net















    Cash Provided By Financing Activities</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">1,622,223</font></font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">1,593,011</font></font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left; padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">NET















    INCREASE (DECREASE) IN CASH</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">55,074</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="padding-bottom: 1pt; padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">CASH















    AT BEGINNING OF PERIOD</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="padding-bottom: 1pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="padding-bottom: 1pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="padding-bottom: 2.5pt; padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">CASH















    AT END OF PERIOD</font></font> </td><td style="padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">$</font></font> </td><td style="border-bottom: Black 2.5pt double; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">55,074</font></font> </td><td style="padding-bottom: 2.5pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">$</font></font> </td><td style="border-bottom: Black 2.5pt double; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="padding-bottom: 2.5pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: justify; padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left; padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Supplemental















    cash flow information:</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 0.375in; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Cash















    paid for income taxes</font></font> </td><td style="padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">$</font></font> </td><td style="border-bottom: Black 2.5pt double; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="padding-bottom: 2.5pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">$</font></font> </td><td style="border-bottom: Black 2.5pt double; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="padding-bottom: 2.5pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 0.375in; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Cash















    paid for interest expense</font></font> </td><td style="padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">$</font></font> </td><td style="border-bottom: Black 2.5pt double; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="padding-bottom: 2.5pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">$</font></font> </td><td style="border-bottom: Black 2.5pt double; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="padding-bottom: 2.5pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left; padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">NONCASH















    INVESTING AND FINANCING ACTIVITIES:</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 8.65pt; text-indent: -8.65pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">Fair















    value of shares issued in contribution agreement</font></font> </td><td style="padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">$</font></font> </td><td style="border-bottom: Black 2.5pt double; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">1,900,000</font></font> </td><td style="padding-bottom: 2.5pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td><td style="padding-bottom: 2.5pt"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">$</font></font> </td><td style="border-bottom: Black 2.5pt double; text-align: right"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">-</font></font> </td><td style="padding-bottom: 2.5pt; text-align: left"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">&nbsp;</font></font> </td></tr>















</table>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















accompanying notes are an integral part to these carveout financial statements.</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><a name="b006_v1"></a>NOTE















1 &ndash; ORGANIZATION AND NATURE OF BUSINESS</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><i>Company















Background</i></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">&nbsp;&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chromocell















Therapeutics Corporation (&ldquo;Chromocell&rdquo; or the &ldquo;Company&rdquo;) was incorporated in the State of Delaware on















March 19, 2021. On August 10, 2022, the Company entered into that certain Contribution Agreement (the &ldquo;Contribution















Agreement&rdquo;) with Chromocell Corporation, a Delaware corporation (&ldquo;Chromocell Holdings&rdquo;), pursuant to which,















effective July 12, 2022 (the &ldquo;Contribution Date&rdquo;), Chromocell Holdings contributed all assets and liabilities related















to Chromocell Holdings&rsquo; historical therapeutic business, including all patents, pre-clinical and Phase I study results and















data, and trade secrets related to the CC8464 compound to the Company. (See Note 5)</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;<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: 0pt 0; text-align: justify; text-indent: 0"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The















Company is a development stage life sciences company which improves consumer products and patient lives through breakthrough science















and technologies. The Company is focused on the discovery and development of therapeutics through the use of pioneering Chromovert&reg;















technology. Chromovert technology enables the Company to use rare cells ideally suited for effective high-throughput screening.















The Company&rsquo;s therapeutics pipeline is currently focused on analgesics and rare diseases, where Chromovert technology has















proven highly effective in the rapid identification of potential new drug candidates.</FONT></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;<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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The















Company has a limited operating history and has not generated revenue from intended operations. The Company&rsquo;s business and















operations are sensitive to general business and economic conditions in the U.S. and worldwide along with local, state, and federal















governmental policy decisions. A host of factors beyond the Company&rsquo;s control could cause fluctuations in these conditions.















Adverse conditions may include changes in the biotechnology regulatory environment, technological advances that render our technologies















obsolete, availability of resources for clinical trials, acceptance of technologies into the medical community, and competition















from larger, more well-funded companies. </font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">On















January 30, 2020, the World Health Organization declared the COVID-19 novel coronavirus outbreak a &ldquo;Public Health Emergency















of International Concern&rdquo; and on March 10, 2020, declared it to be a pandemic. Actions taken around the world to help mitigate















the spread of the coronavirus include restrictions on travel, and quarantines in certain areas, and forced closures for certain















types of public places and businesses. The COVID-19 coronavirus and actions taken to mitigate it have had and are expected to















continue to have an adverse impact on the economies and financial markets of many countries, including the geographical area in















which the Company operates. While it is unknown how long these conditions will last and what the financial impact will be to the















Company, it is reasonably possible that future capital raising efforts and additional development of our technologies may be negatively















affected.</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">&nbsp;&nbsp;</p>































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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>NOTE















2 &ndash; GOING CONCERN ANALYSIS</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><i>Management















Plans</i></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2022, the Company had a net loss of $2,458,589 and cash of $55,074















at December&nbsp;31, 2022. These factors indicate substantial doubt about the Company&rsquo;s ability to continue as a going concern















for the twelve months following the issuance of these financial statements. The accompanying financial statements have been prepared















assuming that the Company will continue as a going concern.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The















financial statements included in this report do not include any adjustments to reflect the possible future effects on the recoverability















and classification of assets or the amounts and classification of liabilities that may result from the matters discussed herein.















While the Company believes in the viability of our strategy to generate sufficient revenue, control costs, and raise additional















funds, when necessary, there can be no assurances to that effect. The Company&rsquo;s ability to continue as a going concern is















dependent upon the ability to implement the business plan, generate sufficient revenues and to control operating expenses.</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Liquidity















and Capital Resources</i></b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">At















December 31, 2022, the Company had $55,074 in cash and cash equivalents and a working capital deficit of approximately $3.7















million, compared to approximately $0 in cash and cash equivalents and a working capital deficit of approximately $2.6















million at December 31, 2021.</font></font> </p>































<P STYLE="margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Based on the Company&rsquo;s current projections, management believes that due to the lack of cash, revenue















and accounts receivables there is substantial doubt about its to ability to continue to operate as a going concern and fund its















operations through at least the next twelve months following the issuance of these financial statements, unless the Company can















raise additional funds through an initial public offering. While the Company will continue to invest in its business and the development















of CC8464, and potentially other molecules, and it is unlikely that the Company will generate product or licensing revenue during















the next twelve months, so the Company will need to raise funds though the initial public offering or via private investors or















both; However, there is no assurance that the Company will be able to raise such additional funds on acceptable terms, if at all.















If the Company raises additional funds by issuing securities, existing stockholders may be diluted.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">If adequate funds are not available, the















Company may be required to curtail its operations or other business activities or obtain funds through arrangements with strategic















partners or others that may require the Company to relinquish rights to certain technologies or potential markets.</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>















































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>NOTE















3 &ndash; SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><i>Basis















of Presentation</i></b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior















to the execution of the Contribution Agreement between Chromocell and Chromocell Holdings (see Note 5), Chromocell did not constitute















a separate legal entity or group and as such, stand-alone financial statements were not previously prepared for the Company. As















a result, carve-out financial statements for Chromocell were prepared for the year ended December 31, 2021, which include all















of Chromocell&rsquo;s operations which have been conducted within Chromocell Holdings, which also has other activities.&nbsp;These















financial statements have been prepared on a stand-alone basis derived from the financial statements and related accounting records















of Chromocell Holdings. The accompanying carve-out financial statements present the historical financial position, results of















operations, changes in net assets and cash flows of the Company as it was historically conducted, as more fully described below















in Note 4. The financial information in these financial statements does not necessarily include all the expenses that would have















been incurred had the Company operated as a separate stand-alone entity and may not reflect results of operations, financial position















and cash flows had the Company been a stand-alone company during the year ended December 31, 2021.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font> </p>































<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <font style="font-size: 10pt">With the execution of the Contribution Agreement on August 12, 2022, effective for the reporting period















ended December 31, 2022 and all future reporting periods, the financial statements reflect Chromocell as a stand-alone entity.















The financial statements for December 31, 2021 represent the carve-out of the financial actively related to Chromocell Therapeutics out of Chromocell Holdings and does not necessarily represent the actual activity of Chromocell Therapeutics if it had been a separate















entity during that period.</font> </p>































<P STYLE="margin: 0pt 0; text-align: justify">&nbsp;</p>















































<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <font style="font-size: 10pt">For all















periods, the Company&rsquo;s financial statements have been prepared in accordance with accounting principles generally accepted















in the United States of America (&ldquo;U.S. GAAP&rdquo;) and the rules and regulations of the Securities and Exchange Commission















(&ldquo;SEC&rdquo;).</font> </p>































<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><i>Use















of Estimates</i></b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect















the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial















statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those















estimates. Significant estimates made by management include, but are not limited to, estimating the useful lives of patent assets,















realization of long-lived assets, valuation of deferred income taxes, unrealized tax positions and business combination accounting.<font style="background-color: white">&nbsp;&nbsp;</font></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Cash















                                         and Cash Equivalents</i></b></font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The Company considers all highly liquid















investments with an original maturity of three months or less when purchased to be cash equivalents. As of December 31, 2022 and















2021, the Company did not have any cash equivalents. As of December 31, 2022 and 2021, the Company did not have any deposits in















excess of Federally insured limits. </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>















































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><i>Research















and Development</i></b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">We















incur research and development costs during the process of researching and developing our technologies and future offerings. We















expense these costs as incurred unless such costs qualify for capitalization under applicable guidance.&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Below















is a disaggregation of R&amp;D expenses: </font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><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: 0pt 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">















<tr style="vertical-align: bottom">















    <td style="font-weight: bold"> Account </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> For the Year Ended<br>















December&nbsp;31, 2022 </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> For the Year Ended<br>















December&nbsp;31, 2021 </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="width: 74%"> Consultant </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> 86,802 </td><td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> 120,480 </td><td style="width: 1%; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left"> Lab gas </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 13,871 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> $ </td><td style="text-align: right"> 8,628 </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left"> Lab cell storage </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 62,197 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> $ </td><td style="text-align: right"> 65,260 </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left"> Chemistry Manufacturing and Controls (&ldquo;CMC&rdquo;) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 3,800 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> $ </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; padding-bottom: 1pt"> IP services </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> 225,060 </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> $ </td><td style="border-bottom: Black 1pt solid; text-align: right"> 14,679 </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font-weight: bold; padding-bottom: 2.5pt"> Total </td><td style="font-weight: bold; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> $ </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"> 391,730 </td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> $ </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"> 209,047 </td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> &nbsp; </td></tr>















</table>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><i>Fair















Value Measurements and Fair Value of Financial Instruments</i></b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The















Company adopted FASB ASC Topic 820, Fair Value Measurements (&ldquo;ASC Topic 820&rdquo;). ASC Topic 820 clarifies the definition















of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used















in measuring fair value as follows:</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<td style="width: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level















                                         1 Inputs</font> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">are















                                         unadjusted quoted prices in active markets for identical assets or liabilities available















                                         at the measurement date.</font></td></tr></table>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level















                                         2 Inputs are unadjusted quoted prices for similar assets and liabilities in active markets,















                                         quoted prices for identical or similar assets and liabilities in markets that are not















                                         active, inputs other than quoted prices that are observable, and inputs derived from















                                         or corroborated by observable market data.</font></td></tr></table>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">















<TD STYLE="width: 0.25in; text-align: justify"></td><TD STYLE="width: 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</font></td><TD STYLE="text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level















                                         3 Inputs are unobservable inputs which reflect the reporting entity&rsquo;s own assumptions















                                         on what assumptions the market participants would use in pricing the asset or liability















                                         based on the best available information.</font></td></tr></table>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">&nbsp;&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The















Company did not identify any assets or liabilities that are required to be presented on the balance sheets at fair value in accordance















with ASC Topic 820.</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Due















to the short-term nature of all financial assets and liabilities, their carrying value approximates their fair value as of the















balance sheet dates.</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&nbsp;</i></b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Stock-Based















                                         Compensation</i></b></font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> </P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Company accounts for stock-based compensation costs under the provisions of ASC 718, Compensation&mdash;Stock Compensation, which















requires the measurement and recognition of compensation expense related to the fair value of stock-based compensation awards















that are ultimately expected to vest. Stock-based compensation expense recognized includes the compensation cost for all stock-based















payments granted to employees, officers, and directors based on the grant date fair value estimated in accordance with the provisions















of ASC 718. ASC 718 is also applied to awards modified, repurchased, or cancelled during the periods reported. Stock-based compensation















is recognized as expense over the employee&rsquo;s requisite vesting period and over the nonemployee&rsquo;s period of providing















goods or services. Pursuant to ASC 718, the Company can elect to either recognize the expenses on a straight-line or graded basis















and has elected to do so under the straight-line basis.</FONT></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Basic















and Diluted Net Loss per Common Share</i></b></font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic















loss per common share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding















for each period. Diluted loss per share is computed by dividing the net loss by the weighted average number of shares of common















stock outstanding plus the dilutive effect of shares issuable through the common stock equivalents. The weighted-average number















of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive. As of December















31, 2022,&nbsp;450,000&nbsp;stock options were excluded from dilutive earnings per share as their effects were anti-dilutive.<b><i>&nbsp;</i></b></font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>&nbsp;</i></b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Income















Taxes</i></b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Company accounts for income taxes pursuant to the provision of ASC 740 &ldquo;Accounting for Income Taxes,&rdquo; which requires,















among other things, an asset and liability approach to calculating deferred income taxes. The asset and liability approach requires















the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between















the carrying amounts and the tax bases of assets and liabilities. A valuation allowance is provided to offset any net deferred















tax assets for which management believes it is more likely than not that the net deferred asset will not be realized.</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Company follows the provision of the ASC 740 related to Accounting for Uncertain Income Tax Position. When tax returns are















filed, it is more likely than not that some positions taken would be sustained upon examination by the taxing authorities, while















others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately















sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements















in the period during which, based on all available evidence, management believes it is most likely that not that the position















will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are















not offset or aggregated with other positions.</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tax















positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more















than 50% likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated















with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for uncertain















tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing















authorities upon examination. The Company believes its tax positions will more likely than not be upheld upon examination. As















such, the Company has not recorded a liability for uncertain tax benefits.</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify"> The federal and state income tax returns















of the Company are subject to examination by the Internal Revenue Service and state taxing authorities, generally for three years















after they were filed. The Company is in the process of filing the tax returns for the 2022 year. After review of the prior year















financial statements and the results of operations through December 31, 2022, the Company has recorded a full valuation allowance















on its deferred tax asset. </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>















































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><i>Recent















Accounting Pronouncements</i></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In















December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (&ldquo;ASU















2019-12&rdquo;), as part as part of its overall simplification initiative to reduce costs and complexity of applying accounting















standards while maintaining or improving the usefulness of the information provided to users of financial statements. Amendments















include removal of certain exceptions to the general principles of ASC 740&#8203;, Income Taxes and simplification in several















other areas such as accounting for a franchise tax (or similar tax) that is partially based on income. ASU 2019-12 is effective















for public business entities for annual reporting periods beginning after December 15, 2020, and interim periods within those















reporting periods. The adoption of this ASU did not have a material effect on the Company&rsquo;s financial statements.</font> </p>















































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <font style="background-color: white"><b><i>Subsequent















Events</i></b></font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The Company has evaluated all transactions through the date















the consolidated financial statements were issued for subsequent event disclosure consideration. </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE















4 &ndash; CARVE-OUT CRITERIA AND ASSUMPTIONS</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">The carve-out statements of comprehensive















income, as set forth above and which was the subject of the statement contained herein, reflect direct revenues and expenses and















allocations of indirect expenses related to certain support functions that are provided on a centralized basis by <font style="background-color: white">Chromocell















Holdings</font>. These expenses, assets, and liabilities have been allocated to the Company on the basis of direct usage when identifiable,















with others allocated based on relevant data criteria.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 54px; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>















    <TD STYLE="width: 43px; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Employment related















    expenses &ndash; allocated all Chromocell direct salaries and an allocation of headquarters salaries based on headcounts.</FONT></TD></TR>















</TABLE>















<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 54px; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>















    <TD STYLE="width: 43px; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">General and administrative















    expenses and Professional fees &ndash; allocated all direct Chromocell related expenses and corporate expense have been allocated















    to reflect the utilization of those corporate services by the Company.</FONT></TD></TR>















</TABLE>















<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 54px; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>















    <TD STYLE="width: 43px; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Research and development















    expenses &ndash; all Research and development expenses are direct Chromocell expenses.</FONT></TD></TR>















</TABLE>















<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 54px; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>















    <TD STYLE="width: 43px; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Rent and related
    expenses and security deposits &ndash; applied a ratio based on floor space used by Chromocell.</FONT></TD></TR>















</TABLE>















<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 54px; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>















    <TD STYLE="width: 43px; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Long lived assets
    &ndash; long lived assets are owned by Chromocell Holdings Inc. and under shared use by its components including the Company.
    Operating expenses are allocated that reflect the usage of the long-lived asset by the Company.</FONT></TD></TR>















</TABLE>















<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 54px; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>















    <TD STYLE="width: 43px; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Accounts payable















    and accrued expenses &ndash; allocated all direct Chromocell liabilities and an allocation corporate expense reflecting the















    utilization of those corporate services by the Company.</FONT></TD></TR>















</TABLE>















<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 54px; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>















    <TD STYLE="width: 43px; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">PPP loan and PPP















    loan forgiveness &ndash; allocated to reflect the utilization of the proceeds by the Company.</FONT></TD></TR>















</TABLE>















<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 54px; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>















    <TD STYLE="width: 43px; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bridge loan &ndash;















    the bridge loan was fully allocated to the Company. (See Note 6)</FONT></TD></TR>















</TABLE>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>































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<p style="margin: 0; text-indent: 0"></p>































































<p style="margin: 0; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Chromocell Holdings uses a centralized















approach to cash management of its operations. Any cash excess over comprehensive income earned by the Company were transferred















to Chromocell Holdings through &ldquo;net parent investment.&rdquo; Accordingly, none of the Chromocell Holdings cash and cash















equivalents, have been assigned to the Company in the carve-out combined financial statements. </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As















these carve-out financial statements present a portion of the business of Chromocell Holdings, which does not constitute a separate















legal entity for the purposes of carve-out financial statements, the net assets of the Chromocell Holdings have been presented















as parent&rsquo;s net deficit. Except for the PPP loan, Chromocell Holdings third-party bank loans, related party loans and the















related interest expense have not been included in the carve-out financial statements for any of the periods presented. Chromocell















is not the legal obligor on those loans, and they were not directly attributable to the Chromocell operations.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> As the lease is held by Chromocell















Holdings, the Company does not have the right to control the use of the space being leased and only shares the space. As such,















there is no lease liability or right of use asset recorded for Chromocell. </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Management believes the assumptions















underlying the carve-out combined financial statements, including the assumptions regarding allocation of expenses, are reasonable. </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> For the year ended December 31, 2022,















the financial statements reflect Chromocell as a stand-alone entity. </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE















5 &ndash; RELATED PARTY TRANSACTIONS</b></font></p>































<P STYLE="margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































<P STYLE="margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In&nbsp;May 2021, Chromocell&nbsp;Holdings&nbsp;Corporation















(&ldquo;Chromocell Holdings&rdquo;), the Company and Flamands&nbsp;International Holdings LLC (&ldquo;Flamands&rdquo;)&nbsp;(a















related party)&nbsp;commenced&nbsp;negotiations regarding&nbsp;a three-party agreement whereby Chromocell&nbsp;Holdings&nbsp;would















spin off assets and liabilities associated with&nbsp;its&nbsp;therapeutics operations to the Company and Flamands would provide















funding&nbsp;to the Company.&nbsp; As the&nbsp;parties contemplated various transactional structures,&nbsp;an agreement was never















effectuated&nbsp;because significant details concerning the assumption of liabilities were never finalized. Chromocell Holdings&nbsp;instead&nbsp;provided















multiple advances&nbsp;to the Company for its operations from May 2021 through August 2022 totaling $1,900,000. At December 31,















2022, all amounts previously received&nbsp;from Chromocell Holdings&nbsp;by the Company&nbsp;were recorded as additional paid















in capital&nbsp;on the Company&rsquo;s&nbsp;financial statements.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Following execution of the Contribution

Agreement, Chromocell Holdings sold 5,999,667 of the shares it owned in the Company to Flamands, making Flamands the majority

stockholder of the Company, and the Managing Member of Flamands is also a member of the Company&rsquo;s board of directors. The

agreement provides Flamands an option to acquire an additional 667,000 shares of the common stock Chromocell Holdings owns of

the Company&nbsp;prior to the public filing of a registration&nbsp;statement relating to the Company&rsquo;s initial public offering.

The Company was not a party to the sale, and the option was exercised on September 22, 2022.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>















































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On&nbsp;August 10, 2022, the Company















and Chromocell Holdings entered into the Contribution Agreement effecting (1) the contribution by Chromocell Holdings















to the Company of&nbsp; assets&nbsp;related to Chromocell Holding&rsquo;s&nbsp; Therapeutics Business, including all intellectual















property&nbsp;related to Chromocell Holding&rsquo;s&nbsp;NaV1.7 program and its clinical-stage CC8464 lead compound, (2) assumption















by the Company of direct<strike> </strike>liabilities&nbsp;related to Chromocell Holding&rsquo;s&nbsp; historical Therapeutics















Business&nbsp;in the amount of $1,556,323 as well as a cash payment by the Company to Chromocell Holdings of $597,038 and















(3) the&nbsp;issuance by the Company to Chromocell Holdings of 10,000,000 shares of its common stock and 600,000 shares of its















Series A Convertible Preferred Stock. </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>





























<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Pursuant to the Series A Convertible
Preferred Stock Certificate of Designation, the Series A Convertible Preferred Stock ranks on par with the Company&rsquo;s common
stock, will not pay a dividend, has no voting rights and shall be mandatorily converted into shares of Common Stock at the close
of the IPO. The Series A Convertible Preferred Stock is convertible into an aggregate number of shares of Common Stock determined
by (i) multiplying the number of shares of Series A Convertible Preferred Stock by $4.37 and then (ii) dividing the value in the
preceding clause (i) by 87.5% of the price at which the shares of Common Stock are sold to the public in the IPO. The shares of
Common Stock received upon conversion of the Series A Convertible Preferred Stock will be subject customary lock-up provisions
as requested by the underwriter. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As















                                         part of the contribution agreement, Chromocell Holdings transferred to the Company assets















                                         related to Chromocell Holding&rsquo;s Therapeutics Business, including all the patents















                                         and intellectual property related to Chromocell Holding&rsquo;s NaV1.7 program and its















                                         clinical-stage CC8464 lead compound.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Company analyzed the transaction for common control pursuant to ASC 805-50. While the term &ldquo;common control&rdquo; is not















defined, there are examples in the Transactions between Entities under Common Control Subsection that, among others, indicates















that &ldquo;an entity [that] charters a newly formed entity and then transfers some or all of its assets to the newly chartered















entity&rdquo; is an example of a transaction involving common control, yielding recordation of assets at the transferors&rsquo;















historical cost basis. This directly mirrors the terms underlying the Contribution Agreement whereby Holdings established the















Company as wholly owned subsidiary and transferred the Intangibles in return to 100% of the stock of the Company. Further, Staff Accounting Bulletin (&ldquo;SAB&rdquo;) Topic 5G dictates that &ldquo;transfers of nonmonetary assets to a company by its promoters or shareholders in exchange for stock















prior to or at the time of the company&rsquo;s initial public offering normally should be recorded at the transferors&rsquo; historical















cost basis determined under GAAP.&rdquo; As a result, pursuant to ASC 805-50 and SAB Topic 5G, the Company recorded the net assets















acquired at historical value when the Contribution Agreement was executed.</font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















following presents the purchase price allocation.</font> </p>















































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: justify"> Purchase Price </td><td> &nbsp; </td>















    <td colspan="2" style="text-align: justify"> &nbsp; </td><td> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="width: 87%; text-align: justify; padding-bottom: 1pt"> Advances from Chromocell Corporation </td><td style="width: 1%; padding-bottom: 1pt"> &nbsp; </td>















    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left"> $ </td><td style="width: 10%; border-bottom: Black 1pt solid; text-align: right"> 1,900,000 </td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt"> Total purchase price </td><td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> $ </td><td style="border-bottom: Black 2.5pt double; text-align: right"> 1,900,000 </td><td style="padding-bottom: 2.5pt; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: justify"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: justify"> Allocation of purchase price </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: justify"> Cash </td><td> &nbsp; </td>















    <td style="text-align: left"> $ </td><td style="text-align: right"> (42,606 </td><td style="text-align: left"> ) </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: justify"> Accounts payable and accrued expenses </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 2,463,162 </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: justify"> Accrued compensation </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 63,873 </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: justify"> Bridge loan, net of debt discount </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 360,006 </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: justify"> Parent&rsquo;s net deficit </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (2,844,435 </td><td style="text-align: left"> ) </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: justify; padding-bottom: 1pt"> Equity </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> 1,900,000 </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt"> Total allocation of purchase price </td><td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> $ </td><td style="border-bottom: Black 2.5pt double; text-align: right"> 1,900,000 </td><td style="padding-bottom: 2.5pt; text-align: left"> &nbsp; </td></tr>















</table>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font: 10pt Times New Roman, Times, Serif">Prior















to the Contribution Date, the Company had only nominal assets and liabilities. Since this was a spin off transaction in















accordance with Accounting Standards Codification (&ldquo;ASC&rdquo;) 805, &ldquo;Business Combinations&rdquo;, and SAB Topic 5G, the Company recognized the contributed assets from Chromocell Holdings at















their historical carrying amounts &nbsp;&nbsp;on the Contribution Date because the two entities were under common control.















Chromocell Holdings had two lines of business, the therapeutics business, which was transferred to the Company (the















&ldquo;Therapeutics Business&rdquo;) and a flavors business, which remains with Chromocell Holdings.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font: 10pt Times New Roman, Times, Serif">Accordingly,















the financial statements presented in this prospectus for periods prior to the Contribution Date, the December 31, 2021 financial















statements, have been prepared on a &ldquo;carve-out&rdquo; basis from the financial statements of Chromocell Holdings to represent















the Company&rsquo;s financial position and performance as if it had existed on a stand-alone basis.&nbsp;&nbsp;</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font: 10pt Times New Roman, Times, Serif">All















of the assets, liabilities and results of operations of the Company as of and for the periods prior to the Contribution Date were















identified based on the assets contributed to the Company from Chromocell Holdings. Management believes the assumptions underlying















the Company&rsquo;s carve-out financial statements are reasonable. Nevertheless, the financial statements may not include all















of the actual expenses that would have been incurred had the Company operated as a standalone company during the periods presented,















and may not reflect the Company&rsquo;s results of operations, financial position and cash flows had the Company operated as a















standalone company during the periods presented. Actual costs that would have been incurred if the Company had operated as a standalone















company would depend on multiple factors, including organizational structure and strategic decisions made in various areas, including















information technology and infrastructure.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> &nbsp; </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <b><i>Contribution Agreement (Unaudited)</i></b> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As















of December 31, 2022, the Company&rsquo;s analysis of the complex provisions contained in the Contribution Agreement were finalized,















resulting in changes to the preliminary, unaudited results presented in the financial statements as of and for the nine months















ended September 30, 2022.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The results of the changes to the Balance















Sheet at September 30, 2022 were: </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </p>















































<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">















<tr style="vertical-align: bottom">















    <td> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Preliminary<br>















(as reported) </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Change </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Final </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td></tr>















<tr style="vertical-align: bottom">















    <td> &nbsp; </td><td> &nbsp; </td>















    <td colspan="2" style="text-align: justify"> &nbsp; </td><td> &nbsp; </td><td> &nbsp; </td>















    <td colspan="2" style="text-align: justify"> &nbsp; </td><td> &nbsp; </td><td> &nbsp; </td>















    <td colspan="2" style="text-align: justify"> &nbsp; </td><td> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="width: 61%; text-align: left; text-indent: -9pt; padding-left: 9pt"> Intangible assets </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> 44,290,462 </td><td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> (44,290,462 </td><td style="width: 1%; text-align: left"> ) </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> - </td><td style="width: 1%; text-align: left">&nbsp;</td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt"> TOTAL ASSETS </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 44,290,462 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (44,290,462 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left">&nbsp;</td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-indent: -9pt; padding-left: 9pt"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt"> Additional paid in capital </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 46,672,705 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (44,783,305 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 1,889,400 </td><td style="text-align: left">&nbsp;</td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt"> Parent&rsquo;s net deficit </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (5,400,550 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 492,843 </td><td style="text-align: left">&nbsp;</td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (4,097,707 </td><td style="text-align: left"> )&nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt"> TOTAL STOCKHOLDERS&rsquo; EQUITY















    / PARENT&rsquo;S NET DEFICIT </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 41,282,755 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (44,290,462 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (3,007,707 </td><td style="text-align: left"> ) </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt"> TOTAL LIABILITIES AND STOCKHOLDERS&rsquo;















    EQUITY / PARENT&rsquo;S NET DEFICIT </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 44,463,702 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (44,290,462 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 173,240 </td><td style="text-align: left">&nbsp;</td></tr>















</table>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The results of the changes to the Statement of Operations















for the nine months ended September 30, 2022 were: </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>































<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">















<tr style="vertical-align: bottom">















    <td> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Preliminary<br> (as reported) </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Change </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Final </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td></tr>















<tr style="vertical-align: bottom">















    <td> &nbsp; </td><td> &nbsp; </td>















    <td colspan="2" style="text-align: justify"> &nbsp; </td><td> &nbsp; </td><td> &nbsp; </td>















    <td colspan="2" style="text-align: justify"> &nbsp; </td><td> &nbsp; </td><td> &nbsp; </td>















    <td colspan="2" style="text-align: justify"> &nbsp; </td><td> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="width: 61%; text-align: left; text-indent: -9pt; padding-left: 9pt"> General and administrative expenses </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> 889,122 </td><td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> (517,839 </td><td style="width: 1%; text-align: left"> ) </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> 371,283 </td><td style="width: 1%; text-align: left">&nbsp;</td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt"> Total Operating Expenses </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 1,621,182 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (517,839 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 1,103,343 </td><td style="text-align: left">&nbsp;</td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt"> Net loss before provision for income taxes </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (1,719,000 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 517,839 </td><td style="text-align: left">&nbsp;</td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (1,201,161 </td><td style="text-align: left"> ) </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt"> Net loss </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (1,719,000 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 517,839 </td><td style="text-align: left">&nbsp;</td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (1,201,161 </td><td style="text-align: left"> ) </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt"> Net loss per common share - basic and diluted </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (0.92 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 0.28 </td><td style="text-align: left">&nbsp;</td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (0.64 </td><td style="text-align: left"> ) </td></tr>















</table>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The results of the changes to the Statement of Changes in Stockholders&rsquo;















Equity for the nine months ended September 30, 2022 were: </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>































<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">















<tr style="vertical-align: bottom">















    <td style="padding-left: 9pt; text-align: center">&nbsp;</td>















    <td style="padding-left: 9pt; text-align: center">&nbsp;</td>















    <td colspan="26" style="padding-left: 0pt; text-align: center"> <font style="font-size: 10pt"><b>Preliminary (as reported)</b></font> </td>















    <td style="padding-left: 9pt; text-align: center">&nbsp;</td>















    </tr>















<tr style="vertical-align: bottom">















    <td style="padding-left: 9pt; text-align: center; text-indent: -9pt"> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <font style="font-size: 10pt"><b>Common</b></font><br>















    <font style="font-size: 10pt"><b>Shares</b></font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <font style="font-size: 10pt"><b>Par</b></font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <font style="font-size: 10pt"><b>Preferred</b></font><br>















    <font style="font-size: 10pt"><b>Shares</b></font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <font style="font-size: 10pt"><b>Preferred</b></font><br>















    <font style="font-size: 10pt"><b>Shares</b></font><br>















    <font style="font-size: 10pt"><b>Par</b></font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <font style="font-size: 10pt"><b>Additional</b></font><br>















    <font style="font-size: 10pt"><b>Paid-in</b></font><br>















    <font style="font-size: 10pt"><b>Capital</b></font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <font style="font-size: 10pt"><b>Accumulated</b></font><br>















    <font style="font-size: 10pt"><b>Deficit</b></font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <font style="font-size: 10pt"><b>Total</b></font><br>















    <font style="font-size: 10pt"><b>Stockholders&rsquo;</b></font><br>















    <font style="font-size: 10pt"><b>Deficit</b></font> </td>















    <td> &nbsp; </td></tr>















<tr style="vertical-align: bottom">















    <td style="padding-left: 9pt; text-indent: -9pt"> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2"> &nbsp; </td>















    <td> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: #CCEEFF">















    <td style="width: 25%; padding-left: 9pt; text-indent: -9pt"> <font style="font-size: 10pt">Balance,















    December&nbsp;31, 2021</font> </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 8%; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> <font style="font-size: 10pt">$</font> </td>















    <td style="width: 6%; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 8%; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> <font style="font-size: 10pt">$</font> </td>















    <td style="width: 8%; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> <font style="font-size: 10pt">$</font> </td>















    <td style="width: 8%; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> <font style="font-size: 10pt">$</font> </td>















    <td style="width: 8%; text-align: right"> <font style="font-size: 10pt">(3,680,267</font> </td>















    <td style="width: 1%"> <font style="font-size: 10pt">)</font> </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> <font style="font-size: 10pt">$</font> </td>















    <td style="width: 8%; text-align: right"> <font style="font-size: 10pt">(3,680,267</font> </td>















    <td style="width: 1%"> <font style="font-size: 10pt">)</font> </td></tr>















<tr style="vertical-align: bottom; background-color: white">















    <td style="padding-left: 9pt; text-indent: -9pt"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: #CCEEFF">















    <td style="padding-left: 9pt; text-indent: -9pt"> <font style="font-size: 10pt">Fair value of shares issued in contribution















    agreement</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <font style="font-size: 10pt">10,000,000</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <font style="font-size: 10pt">10,000</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <font style="font-size: 10pt">600,000</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <font style="font-size: 10pt">600</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <font style="font-size: 10pt">46,672,705</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <font style="font-size: 10pt">46,672,705</font> </td>















    <td> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: white">















    <td style="padding-left: 9pt; text-indent: -9pt"> <font style="font-size: 10pt">Net contributions from Chromocell Corporation</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <font style="font-size: 10pt">(1,283</font> </td>















    <td> <font style="font-size: 10pt">)</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <font style="font-size: 10pt">(1,283</font> </td>















    <td> <font style="font-size: 10pt">)</font> </td></tr>















<tr style="vertical-align: bottom; background-color: #CCEEFF">















    <td style="padding-left: 9pt; text-indent: -9pt; padding-bottom: 1pt"> <font style="font-size: 10pt">Net loss</font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt">(1,719,000</font> </td>















    <td style="padding-bottom: 1pt"> <font style="font-size: 10pt">)</font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: right"> <font style="font-size: 10pt">(1,719,000</font> </td>















    <td style="padding-bottom: 1pt"> <font style="font-size: 10pt">)</font> </td></tr>















<tr style="vertical-align: bottom">















    <td style="padding-left: 9pt; text-indent: -9pt"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: #CCEEFF">















    <td style="padding-left: 9pt; text-indent: -9pt"> <font style="font-size: 10pt">Balance, September 30, 2022</font> </td>















    <td> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <font style="font-size: 10pt">10,000,000</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> <font style="font-size: 10pt">$</font> </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <font style="font-size: 10pt">10,000</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <font style="font-size: 10pt">600,000</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> <font style="font-size: 10pt">$</font> </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <font style="font-size: 10pt">600</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> <font style="font-size: 10pt">$</font> </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <font style="font-size: 10pt">46,672,705</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> <font style="font-size: 10pt">$</font> </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <font style="font-size: 10pt">(5,400,550</font> </td>















    <td> <font style="font-size: 10pt">)</font> </td>















    <td> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> <font style="font-size: 10pt">$</font> </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <font style="font-size: 10pt">41,282,755</font> </td>















    <td> &nbsp; </td></tr>















</table>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>















<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">















<tr style="vertical-align: bottom">















    <td style="padding-left: 9pt; text-align: center"> &nbsp; </td>















    <td style="padding-left: 9pt; text-align: center"> &nbsp; </td>















    <td colspan="26" style="padding-left: 0pt; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Final</B></FONT> </td>















    <td style="padding-left: 9pt; text-align: center"> &nbsp; </td>















    </tr>















<tr style="vertical-align: bottom">















    <td style="padding-left: 9pt; text-align: center; text-indent: -9pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Common</B></FONT><br>
    <FONT STYLE="font-size: 10pt"><B>Shares</B></FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Par</B></FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Preferred</B></FONT><br>
    <FONT STYLE="font-size: 10pt"><B>Shares</B></FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Preferred</B></FONT><br>
    <FONT STYLE="font-size: 10pt"><B>Shares</B></FONT><br>
    <FONT STYLE="font-size: 10pt"><B>Par</B></FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Additional</B></FONT><br>
    <FONT STYLE="font-size: 10pt"><B>Paid-in</B></FONT><br>
    <FONT STYLE="font-size: 10pt"><B>Capital</B></FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Accumulated</B></FONT><br>
    <FONT STYLE="font-size: 10pt"><B>Deficit</B></FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Total</B></FONT><br>
    <FONT STYLE="font-size: 10pt"><B>Stockholders&rsquo;</B></FONT><br>
    <FONT STYLE="font-size: 10pt"><B>Deficit</B></FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td></tr>















<tr style="vertical-align: bottom">















    <td style="padding-left: 9pt; text-indent: -9pt"> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td colspan="2"> &nbsp; </td>















    <td> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: #CCEEFF">















    <td style="width: 25%; padding-bottom: 2.5pt; padding-left: 9pt; text-indent: -9pt"> <FONT STYLE="font-size: 10pt">Balance,
    December&nbsp;31, 2021</FONT> </td>















    <td style="width: 1%; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 8%; text-align: right"> <FONT STYLE="font-size: 10pt">-</FONT> </td>















    <td style="width: 1%; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt">$</FONT> </td>















    <td style="width: 6%; text-align: right"> <FONT STYLE="font-size: 10pt">-</FONT> </td>















    <td style="width: 1%; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 8%; text-align: right"> <FONT STYLE="font-size: 10pt">-</FONT> </td>















    <td style="width: 1%; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt">$</FONT> </td>















    <td style="width: 8%; text-align: right"> <FONT STYLE="font-size: 10pt">-</FONT> </td>















    <td style="width: 1%; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt">$</FONT> </td>















    <td style="width: 8%; text-align: right"> <FONT STYLE="font-size: 10pt">-</FONT> </td>















    <td style="width: 1%; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt">$</FONT> </td>















    <td style="width: 8%; text-align: right"> <FONT STYLE="font-size: 10pt">(3,680,267</FONT> </td>















    <td style="width: 1%; padding-bottom: 2.5pt"> <FONT STYLE="font-size: 10pt">)</FONT> </td>















    <td style="width: 1%; padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="width: 1%"> <FONT STYLE="font-size: 10pt">$</FONT> </td>















    <td style="width: 8%; text-align: right"> <FONT STYLE="font-size: 10pt">(3,680,267</FONT> </td>















    <td style="width: 1%; padding-bottom: 2.5pt"> <FONT STYLE="font-size: 10pt">)</FONT> </td></tr>















<tr style="vertical-align: bottom; background-color: white">















    <td style="padding-left: 9pt; text-indent: -9pt"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: #CCEEFF">















    <td style="padding-left: 9pt; text-indent: -9pt"> <FONT STYLE="font-size: 10pt">Fair value of shares issued in contribution
    agreement</FONT> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt">10,000,000</FONT> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt">10,000</FONT> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt">600,000</FONT> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt">600</FONT> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt">1,889,400</FONT> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt">-</FONT> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt">1,900,000</FONT> </td>















    <td> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: white">















    <td style="padding-left: 9pt; text-indent: -9pt"> <FONT STYLE="font-size: 10pt">Net contributions from Chromocell Corporation</FONT> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt">-</FONT> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt">-</FONT> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt">-</FONT> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt">-</FONT> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt">(26,279</FONT> </td>















    <td> <FONT STYLE="font-size: 10pt">)</FONT> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <FONT STYLE="font-size: 10pt">(26,279</FONT> </td>















    <td> <FONT STYLE="font-size: 10pt">)</FONT> </td></tr>















<tr style="vertical-align: bottom; background-color: #CCEEFF">















    <td style="padding-bottom: 1pt; padding-left: 9pt; text-indent: -9pt"> <FONT STYLE="font-size: 10pt">Net loss</FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">-</FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">-</FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">-</FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">-</FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">-</FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">(1,201,161</FONT> </td>















    <td style="padding-bottom: 1pt"> <FONT STYLE="font-size: 10pt">)</FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">(1,201,161</FONT> </td>















    <td style="padding-bottom: 1pt"> <FONT STYLE="font-size: 10pt">)</FONT> </td></tr>















<tr style="vertical-align: bottom">















    <td style="padding-left: 9pt; text-indent: -9pt"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: #CCEEFF">















    <td style="padding-bottom: 1pt; padding-left: 9pt; text-indent: -9pt"> <FONT STYLE="font-size: 10pt">Balance, September&nbsp;30,
    2022</FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">10,000,000</FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt">$</FONT> </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">10,000</FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">600,000</FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt">$</FONT> </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">600</FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt">$</FONT> </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">1,889,400</FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt">$</FONT> </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">(4,907,707</FONT> </td>















    <td style="padding-bottom: 1pt"> <FONT STYLE="font-size: 10pt">)</FONT> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt">$</FONT> </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;(3,007,707</FONT> </td>















    <td style="padding-bottom: 1pt"> <FONT STYLE="font-size: 10pt">)</FONT> </td></tr>















</table>















































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The results of the changes to the Statement of Cash Flow















for the nine months ended September 30, 2022 were: </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>































<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">















<tr style="vertical-align: bottom">















    <td> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Preliminary<br>
    (as reported) </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Change </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Final </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td></tr>















<tr style="vertical-align: bottom">















    <td> &nbsp; </td><td> &nbsp; </td>















    <td colspan="2" style="text-align: justify"> &nbsp; </td><td> &nbsp; </td><td> &nbsp; </td>















    <td colspan="2" style="text-align: justify"> &nbsp; </td><td> &nbsp; </td><td> &nbsp; </td>















    <td colspan="2" style="text-align: justify"> &nbsp; </td><td> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt"> CASH FLOWS FROM OPERATING ACTIVITIES: </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="width: 61%; text-align: left; text-indent: -9pt; padding-left: 9pt"> Net loss </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> (1,719,000 </td><td style="width: 1%; text-align: left"> ) </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> 517,839 </td><td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> (1,201,161 </td><td style="width: 1%; text-align: left"> )&nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt"> Amortization of intangible assets </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 517,839 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (517,839 </td><td style="text-align: left"> )&nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-indent: -9pt; padding-left: 9pt"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt"> CASH FLOWS FROM FINANCING ACTIVITIES: </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt"> Net contribution from Chromocell Corporation </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (1,283 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (24,996 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (26,279 </td><td style="text-align: left"> ) </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt"> Funds received from contribution agreement </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 775,054 </td><td style="text-align: left"></td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 24,996 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 800,050 </td><td style="text-align: left"></td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-indent: -9pt; padding-left: 9pt"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt"> NONCASH INVESTING AND FINANCING ACTIVITIES: </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left; text-indent: -9pt; padding-left: 9pt"> Fair value of shares issued in contribution agreement </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 46,683,305 </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (46,683,305 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td></tr>















</table>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE















6 &ndash; NOTE PAYABLE</b></font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On















February 4, 2022, the Company entered into a note for $450,000 with a third party. This note has an original issuance discount















of $150,000, representing an implicit interest rate of 50%, a maturity date of February 3, 2023, and accrues no interest















beyond the original issuance discount. As of December 31, 2022, there was an unamortized debt discount of $14,370. There was $135,630















in amortization of debt discount included in interest expense on the statement of operations for the year ended December 31, 2022.















</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </P>






























<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 27, 2023, the note agreement was amended. The maturity date was extended from its original
due date of February 3, 2023 to May 15, 2023, in return for the Company agreeing to pay 2% per month in accrued interest and the
third party agreeing to settle its outstanding debt, including accrued interests, in shares of Common Stock at the IPO.&nbsp;</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 6, 2022, the Company and















Mr. Todd Davis, one of the Company&rsquo;s directors, entered into a note payable agreement (the &ldquo;Director Note&rdquo;)















for $175,000. The Director Note has an original issuance discount of $75,000, no other interest and matures on December 31, 2023,















or, if earlier to occur, upon the closing of an underwritten offering of securities resulting in at least $15 million in gross















proceeds. Mr. Davis, as lender, has the right but not the obligation to subscribe to the underwritten offering by presenting the















Director Note in whole or in part to purchase such securities as legal tender therefor, on a dollar-for-dollar basis based upon















the offering price of such securities to the public. The Director Note bears no interest except in the case of certain events















of default.&nbsp;As of December 31, 2022, there was an unamortized debt discount of $70,200. There was $4,800 in amortization















of debt discount included in interest expense on the statement of operations for the year ended December&nbsp;31, 2022.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On















April 22, 2020, Chromocell Holdings entered into a PPP loan of which $241,793 was allocated to the Company. This note accrued















interest at a rate of 1% per annum. This loan is due on April 22, 2022. At December 31, 2021 and 2020, the loan had accrued interest















of $0 and $1,676. During the year ended December 31, 2021, this loan was fully forgiven, with a total of $241,793 in principal















forgiven and $1,929 in interest forgiven being allocated to the Company.</font> </p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; text-indent: 0">&nbsp;</p>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; text-indent: 0"> <b>NOTE















7 &ndash; STOCKHOLDERS&rsquo; EQUITY</b> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <b><i>Common Stock</i></b> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> &nbsp; </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> During the year ended December 31, 2022, the Company issued&nbsp;10,000,000















shares of common stock under the Contribution Agreement. (See Note 5) </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <b><i>Preferred Stock</i></b> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> During the year ended December 31, 2022, the Company issued&nbsp;600,000















shares of preferred stock under the Contribution Agreement. (See Note 5) </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <b><i>Stock-Based Compensation</i></b> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&nbsp;</i></b></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On















January 10, 2023, the Company granted a total of&nbsp;450,000&nbsp;options to purchase shares of the Company&rsquo;s common stock















to employees and consultants of the Company pursuant to their employment or consulting agreements, with such vesting















commencing on October 1, 2022. These options had a grant date fair value of $1,122,244. These options have an exercise price of















$2.52, a term of&nbsp;10&nbsp;years, and vest quarterly over ten quarters.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There















were&nbsp;450,000&nbsp;options outstanding as of December 31, 2022. The fair value of each stock option granted during the year















ended December 31, 2022 was estimated using the Black-Scholes Option Pricing Model and assumptions and or factors as follows:</font> </p>















































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="width: 87%"> Exercise price </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> 2.52 </td><td style="width: 1%; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left"> Expected dividend yield </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 0 </td><td style="text-align: left"> % </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left"> Risk free interest rate </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 3.83 </td><td style="text-align: left"> % </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="text-align: left"> Expected life in years </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 10 </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="text-align: left"> Expected volatility </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> 158 </td><td style="text-align: left"> % </td></tr>















</table>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">The















risk-free interest rate assumption for options granted is based upon observed interest rates on the United States Government Bond















Equivalent Yield appropriate for the expected term of the options.</font></font> </p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">The















Company determined the expected volatility assumption for options granted using the historical volatility of comparable public















companies&rsquo; common stock. The Company will continue to monitor peer companies and other relevant factors used to measure















expected volatility for future option grants, until such time that the Company&rsquo;s common stock has enough market history















to use historical volatility.</font></font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">The















dividend yield assumption for options granted is based on the Company&rsquo;s history and expectation of dividend payouts. The















Company has never declared nor paid any cash dividends on its common stock, and the Company does not anticipate paying any cash















dividends in the foreseeable future.</font></font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="margin: 0pt 0; text-align: justify"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">The Company















recognizes option forfeitures as they occur as there is insufficient historical data to accurately determine future forfeitures















rates.</font></font> </p>































<P STYLE="margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <font style="font-size: 10pt"><font style="font-family: Times New Roman, Times, Serif">The















following is an analysis of the stock option grant activity:</font></font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">















<tr style="vertical-align: bottom">















    <td> &nbsp; </td><td> &nbsp; </td>















    <td colspan="2" style="text-align: center"> &nbsp; </td><td> &nbsp; </td><td style="font-weight: bold"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center"> Weighted<br> Average </td><td style="font-weight: bold"> &nbsp; </td><td style="font-weight: bold"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center"> Weighted<br> Average </td><td style="font-weight: bold"> &nbsp; </td></tr>















<tr style="vertical-align: bottom">















    <td> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Number </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Exercise Price </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Remaining&nbsp;Life </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="font-weight: bold; font-style: italic; text-align: left"> Stock Options </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> &nbsp; </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td> Outstanding December 31, 2021 </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> $ </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="width: 61%; padding-left: 10pt"> Granted </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 10%; text-align: right"> 450,000 </td><td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> 2.52 </td><td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 10%; text-align: right"> 9.76 </td><td style="width: 1%; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="padding-left: 10pt"> Expired </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> $ </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="padding-bottom: 1pt; padding-left: 10pt"> Exercised </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> - </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> $ </td><td style="border-bottom: Black 1pt solid; text-align: right"> - </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> - </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="padding-bottom: 2.5pt"> Outstanding December 31, 2022 </td><td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> &nbsp; </td><td style="border-bottom: Black 2.5pt double; text-align: right"> 450,000 </td><td style="padding-bottom: 2.5pt; text-align: left"> &nbsp; </td><td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> $ </td><td style="border-bottom: Black 2.5pt double; text-align: right"> 2.52 </td><td style="padding-bottom: 2.5pt; text-align: left"> &nbsp; </td><td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> &nbsp; </td><td style="border-bottom: Black 2.5pt double; text-align: right"> 9.76 </td><td style="padding-bottom: 2.5pt; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="padding-bottom: 2.5pt"> Exercisable December 31, 2022 </td><td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> &nbsp; </td><td style="border-bottom: Black 2.5pt double; text-align: right"> 40,000 </td><td style="padding-bottom: 2.5pt; text-align: left"> &nbsp; </td><td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> &nbsp; </td><td style="border-bottom: Black 2.5pt double; text-align: right"> 2.52 </td><td style="padding-bottom: 2.5pt; text-align: left"> &nbsp; </td><td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> &nbsp; </td><td style="border-bottom: Black 2.5pt double; text-align: right"> 9.76 </td><td style="padding-bottom: 2.5pt; text-align: left"> &nbsp; </td></tr>















</table>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> A summary of the status of the Company&rsquo;s















nonvested options as of December 31, 2022, and changes during the years ended December 31, 2022 and 2021, is presented below: </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">















<tr style="vertical-align: bottom">















    <td style="font-weight: bold; border-bottom: Black 1pt solid"> Non-vested Options </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Options </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td><td style="font-weight: bold; padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"> Weighted-Average<br> Exercise















    Price </td><td style="padding-bottom: 1pt; font-weight: bold"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td> Non-vested at December 31, 2021 </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td><td> &nbsp; </td>















    <td style="text-align: left"> $ </td><td style="text-align: right"> - </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="width: 74%"> Granted </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 10%; text-align: right"> 450,000 </td><td style="width: 1%; text-align: left"> &nbsp; </td><td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%; text-align: left"> $ </td><td style="width: 10%; text-align: right"> 2.52 </td><td style="width: 1%; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td> Vested </td><td> &nbsp; </td>















    <td style="text-align: left"> &nbsp; </td><td style="text-align: right"> (40,000 </td><td style="text-align: left"> ) </td><td> &nbsp; </td>















    <td style="text-align: left"> $ </td><td style="text-align: right"> 2.52 </td><td style="text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="padding-bottom: 1pt"> Forfeited </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> &nbsp; </td><td style="border-bottom: Black 1pt solid; text-align: right"> - </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td><td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: Black 1pt solid; text-align: left"> $ </td><td style="border-bottom: Black 1pt solid; text-align: right"> - </td><td style="padding-bottom: 1pt; text-align: left"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="padding-bottom: 2.5pt"> Non-vested at December 31, 2022 </td><td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> &nbsp; </td><td style="border-bottom: Black 2.5pt double; text-align: right"> 410,000 </td><td style="padding-bottom: 2.5pt; text-align: left"> &nbsp; </td><td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: Black 2.5pt double; text-align: left"> $ </td><td style="border-bottom: Black 2.5pt double; text-align: right"> 2.52 </td><td style="padding-bottom: 2.5pt; text-align: left"> &nbsp; </td></tr>















</table>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















total number of options granted during the years ended December 31, 2022 and 2021 was&nbsp;450,000&nbsp;and&nbsp;0, respectively.















The exercise price for these options was $2.52&nbsp;per share and there was an intrinsic value of $0.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Company recognized stock-based compensation expense related to option vesting amortization of $110,146&nbsp;and $0&nbsp;for the















years ended December 31, 2022 and 2021, respectively, in which is included in general and administrative expenses in the statement















of operations.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> As of December 31, 2022, the unamortized















stock option expense was $1,012,098. As of December 31, 2022, the weighted average period for the unamortized stock compensation















to be recognized is&nbsp;1.54&nbsp;years. </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify; text-indent: 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE















8 &ndash; INCOME TAX</b></font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&nbsp;</i></b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Company follows the asset and liability method of accounting for income taxes under ASC 740, &ldquo;Income Taxes.&rdquo; Deferred















tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial















statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities















are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are















expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized















in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred















tax assets to the amount expected to be realized.</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">ASC















740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of















tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more















likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties















related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for















interest and penalties as of December 31, 2020. The Company is currently not aware of any issues under review that could result















in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by















major taxing authorities since inception. The Company used the separate return method for the preparation of the income tax provision.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For















the years ended December 31, 2022 and 2021, there was no income tax provision recorded. The tax benefit was added to the net operating















loss to which a full valuation allowance was applied.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"> <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: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A















reconciliation of income tax expense (benefit) computed at the statutory federal income tax rate to income taxes as reflected in the















financial statements is as follows:</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">















<tr style="vertical-align: bottom">















    <td style="text-align: center"></td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <b>2022</b> </td>















    <td style="padding-bottom: 1pt"></td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <font style="font-size: 10pt"><b>2021</b></font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="width: 72%; padding-left: 9pt; text-indent: -9pt"> <font style="font-size: 10pt">Income taxes at U.S. statutory rate</font> </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 11%; text-align: right"> <font style="font-size: 10pt">19.11</font> </td>















    <td style="width: 1%"> <font style="font-size: 10pt">%</font> </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 11%; text-align: right"> 19.11 </td>















    <td style="width: 1%"> <font style="font-size: 10pt">%</font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="padding-left: 9pt; text-indent: -9pt"> <font style="font-size: 10pt">Income taxes at state rate</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <font style="font-size: 10pt">9.00</font> </td>















    <td> % </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> 9.00 </td>















    <td> % </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="padding-bottom: 1pt; padding-left: 9pt; text-indent: -9pt"> <font style="font-size: 10pt">Change in valuation allowance</font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <font style="font-size: 10pt">(28.11</font> </td>















    <td style="padding-bottom: 1pt"> <font style="font-size: 10pt">)%</font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <font style="font-size: 10pt">(28.11</font> </td>















    <td style="padding-bottom: 1pt"> <font style="font-size: 10pt">)%</font> </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="padding-bottom: 2.5pt; padding-left: 0.25in; text-indent: -9pt"> <font style="font-size: 10pt">Total provision for income















    taxes</font> </td>















    <td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: black 2.5pt double"> &nbsp; </td>















    <td style="border-bottom: black 2.5pt double; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="padding-bottom: 2.5pt"> <font style="font-size: 10pt">%</font> </td>















    <td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: black 2.5pt double"> &nbsp; </td>















    <td style="border-bottom: black 2.5pt double; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="padding-bottom: 2.5pt"> <font style="font-size: 10pt">%</font> </td></tr>















</table>















































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred















taxes are recognized for temporary differences between the basis of assets and liabilities for financial statement and income tax purposes.















The significant components of the Company&rsquo;s deferred tax assets and liabilities as of December&nbsp;31, 2022 and 2021 are comprised















of the following:</font> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">















<tr style="vertical-align: bottom">















    <td style="text-align: center"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"> <font style="font-size: 10pt"><b>December















    31,</b></font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td></tr>















<tr style="vertical-align: bottom">















    <td style="text-align: center"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <font style="font-size: 10pt"><b>2022</b></font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"> <font style="font-size: 10pt"><b>2021</b></font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="padding-left: 9pt; text-indent: -9pt"> <font style="font-size: 10pt">Deferred tax assets</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="width: 72%; padding-left: 0.25in; text-indent: -9pt"> <font style="font-size: 10pt">Net operating loss carryforwards</font> </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> <font style="font-size: 10pt">$</font> </td>















    <td style="width: 11%; text-align: right"> <font style="font-size: 10pt">4,053,204</font> </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> &nbsp; </td>















    <td style="width: 1%"> <font style="font-size: 10pt">$</font> </td>















    <td style="width: 11%; text-align: right"> <font style="font-size: 10pt">&nbsp;2,726,414</font> </td>















    <td style="width: 1%"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="padding-left: 27pt; text-indent: -9pt"> <font style="font-size: 10pt">Total deferred tax assets</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <font style="font-size: 10pt">4,053,204</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> <font style="font-size: 10pt">2,726,414 </font> </td>















    <td> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="padding-bottom: 1pt; padding-left: 9pt; text-indent: -9pt"> <font style="font-size: 10pt">Valuation allowance</font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <font style="font-size: 10pt">(4,053,204</font> </td>















    <td style="padding-bottom: 1pt"> <font style="font-size: 10pt">)</font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <font style="font-size: 10pt">(2,726,414 </font> </td>















    <td style="padding-bottom: 1pt"> <font style="font-size: 10pt">)</font> </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="padding-bottom: 2.5pt; padding-left: 27pt; text-indent: -9pt"> <font style="font-size: 10pt">Net deferred tax assets</font> </td>















    <td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: black 2.5pt double"> &nbsp; </td>















    <td style="border-bottom: black 2.5pt double; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: black 2.5pt double"> &nbsp; </td>















    <td style="border-bottom: black 2.5pt double; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="padding-bottom: 2.5pt"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="padding-left: 9pt; text-indent: -9pt"> <font style="font-size: 10pt">Deferred tax liabilities</font> </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td> &nbsp; </td>















    <td style="text-align: right"> &nbsp; </td>















    <td> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">















    <td style="padding-bottom: 1pt; padding-left: 27pt; text-indent: -9pt"> <font style="font-size: 10pt">Total deferred tax liabilities</font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid"> &nbsp; </td>















    <td style="border-bottom: black 1pt solid; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="padding-bottom: 1pt"> &nbsp; </td></tr>















<tr style="vertical-align: bottom; background-color: White">















    <td style="padding-bottom: 2.5pt; padding-left: 27pt; text-indent: -9pt"> <font style="font-size: 10pt">Net deferred taxes</font> </td>















    <td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: black 2.5pt double"> <font style="font-size: 10pt">$</font> </td>















    <td style="border-bottom: black 2.5pt double; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="padding-bottom: 2.5pt"> &nbsp; </td>















    <td style="border-bottom: black 2.5pt double"> <font style="font-size: 10pt">$</font> </td>















    <td style="border-bottom: black 2.5pt double; text-align: right"> <font style="font-size: 10pt">-</font> </td>















    <td style="padding-bottom: 2.5pt"> &nbsp; </td></tr>















</table>















































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For















the years ended December 31, 2022 and 2021, the Company recorded a full valuation allowance of its deferred tax















assets.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"> The Company has a net operating















loss carryforward for federal tax purposes totaling approximately $6.3 million at December 31, 2022. Approximately $6.3 million net operating















losses incurred in fiscal 2018 through fiscal 2022 that do not expire and can be utilized to offset up to 80% of future taxable income















under the Tax Cuts and Jobs Act. </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"> &nbsp; </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> Utilization of NOL and tax credit carryforwards















may be subject to a substantial annual limitation due to ownership change limitations that may have occurred or that could occur in the















future, as required by the Internal Revenue Code (the &ldquo;Code&rdquo;), as amended, as well as similar state provisions. In general,















an &ldquo;ownership change&rdquo; as defined by the Code results from a transaction or series of transactions over a three-year period















resulting in an ownership change of more than 50 percent of the outstanding stock of a company by certain stockholders or public groups.&nbsp;&nbsp; </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"> &nbsp; </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































































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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <b>NOTE 9 &ndash; SUBSEQUENT EVENTS</b> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Employment Agreement</i></b></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&nbsp;</i></b></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Company entered into an employment agreement with Christian Kopfli, dated January 10, 2023. Pursuant to such agreement, Mr. Kopfli















has agreed to serve as the Company&rsquo;s Chief Executive Officer and Vice-Chairman of its Board of Directors in consideration















for an annualized salary of $275,000, payable in cash at the rate of $5,000 per month (a minimum of $1,125 per week), with the















remainder accrued and paid as of the earliest of a sale or liquidation of the Company, the Company&rsquo;s bankruptcy or three















days after the approval by the Board of a funded budget with appropriately established milestones subsequent to the effective















date of a Form S-1 registration statement (&ldquo;Post-registration Approval&rdquo;). Mr. Kopfli also agrees, as of Post-registration















Approval, to resign as Chief Executive Officer of Chromocell Corporation although he may continue to service on the Board of Directors















of Chromocell Corporation, including as its Board Chair. The employment agreement provides that Mr. Kopfli receive an option to















acquire 200,000 shares of our Common Stock, vesting quarterly over 10 quarters and beginning October 1, 2022. This option shall















have an exercise price equal to the fair market value of our Common Stock on the date of grant and shall expire on the 10th anniversary















of the date of grant. The option was awarded as of January 10, 2023. The employment agreement contemplates an annual bonus, as















determined by the Board. The target bonus is 50% of Mr. Kopfli&rsquo;s annualized salary and will be based on achievement of performance















goals and objectives agreed to by Mr. Kopfli and the Board in January of each year. The Board may increase the bonus in recognition















of performance in excess of the performance objectives. Any bonus shall only be paid if Mr. Kopfli remains employed on the date















of payment, which will be no later than March 15 of the year following the year to which the bonus relates. Any bonus for 2022















is payable solely in the Board&rsquo;s discretion.</font> </p>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to Mr. Kopfli&rsquo;s employment















agreement, in the event he is involuntarily terminated by the Company other than for &ldquo;Cause&rdquo; or if he resigns for















&ldquo;Good Reason,&rdquo; he is entitled to receive (i) six months of salary at the same rate existing immediately prior to his















termination, (ii) his target bonus, if performance goals and objectives have been established for the year and prorated for the















period of service, and (iii) six months of additional vesting credit with respect to any outstanding time-based equity awards.















&ldquo;Cause&rdquo; and &ldquo;Good Reason&rdquo; are each defined in the employment agreement.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Finally, Mr. Kopfli agrees to certain















non-solicitation and non-competition provisions for a period of 12 months following termination and to certain confidentiality















obligations. Additional terms and conditions are set forth in the employment agreement.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Consulting Agreement</i></b></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&nbsp;</i></b></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Company entered into a Consultant Agreement with Camden Capital LLC, dated January 10, 2023. This consulting agreement replaces















an agreement with Mr. Francis Knuettel II dated June 2, 2022, and pursuant to the agreement, Camden Capital LLC agrees to provide















the services of Mr. Knuettel, who shall serve as our Chief Financial and Strategy Officer, Treasurer and Secretary.</font> </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the consulting agreement, Camden















Capital LLC accrued a consulting fee for the period June 6, 2022 through August 31, 2022 of $10,000 per month and effective September















1, 2022, began to accrue a consulting fee of $20,000 per month, payable in cash at the rate of $5,000 per month (a minimum of















$1,125 per week), with the remainder accrued. All accrued consulting fees are payable as of the earliest of a sale or liquidation















of the Company, the Company&rsquo;s bankruptcy or three days after Post-registration Approval. The consulting agreement provides















for the following equity awards to Camden Capital LLC: (i) an option, awarded as of January 10, 2023, to acquire 200,000 shares















of our Common Stock, vesting quarterly over 10 quarters and beginning October 1, 2022, with the option having an exercise price















equal to the fair market value of our Common Stock on the date of grant and expiring on the 10th anniversary of the date of grant;















(ii) an option, awarded as of January 10, 2023, to acquire 25,000 shares of our Common Stock, vesting 100% upon the sooner of















the sale of the Company or Post-registration Approval, with the option having an exercise price equal to the fair market value















of our Common Stock on the date of grant and expiring on the 10th anniversary of the date of grant; and (iii) a restricted stock















unit (&ldquo;RSU&rdquo;), awarded as of January 10, 2023, of 150,000 shares of our Common Stock, vesting 100% on the day after















the first trading window that opens after Post-registration Approval.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consulting agreement contemplates















an additional consulting fee, as determined by the Board. The potential additional consulting fee is 50% of the annualized consulting















fee and will be based on achievement of performance goals and objectives established by the Board in concert with Mr. Knuettel















in January of each year. The Board may increase the potential additional consulting fee in recognition of performance in excess















of the performance objectives. Any amount shall only be paid if Camden Capital LLC continues to provide consulting services to















the Company as of the date of payment, which will be no later than March 15 of the year following the year to which the additional















consulting fee relates. Any additional consulting fee for 2022 is payable solely in the Board&rsquo;s discretion.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the consulting agreement,















in the event the relationship with Camden Capital LLC is involuntarily terminated by the Company other than for &ldquo;Cause&rdquo;















or if Camden Capital LLC terminates the relationship for &ldquo;Good Reason,&rdquo; Camden Capital LLC is entitled to receive















(i) six months of consulting fees at the same rate existing immediately prior to termination, (ii) a potential additional consulting















fee, if performance goals and objectives have been established for the year and prorated for the period of service, and (iii)















six months of additional vesting credit with respect to any outstanding time-based equity awards. &ldquo;Cause&rdquo; and &ldquo;Good















Reason&rdquo; are each defined in the consulting agreement.</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Finally, Camden Capital LLC and Mr.















Knuettel agree to certain non-solicitation and non-competition provisions for a period of 12 months following termination of the















relationship and to certain confidentiality obligations. Additional terms and conditions are set forth in the consulting agreement.</p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <b><i>Bridge Financing </i></b> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 17, 2023, the Company and entered into a bridge loan (referred to herein as the Bridge Financing) with various accredited
investors, including Boswell Prayer Ltd., Motif Pharmaceuticals Ltd, Aperture Healthcare Ventures Ltd., MDB Merchants Park LLC,
Balmoral Financial Group LLC and AME EQUITIES LLC (each a related party). The Bridge Financing consists of senior secured convertible
notes that have a maturity date of October 17, 2023. Such notes accrue interest on the unpaid principal amount at a rate of eight
percent (8%) per annum and will automatically convert into shares of Common Stock at the initial public offering at a twenty percent
(20%) discount to the price per IPO Share.</FONT> </P>
























<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <b><i>Option Issuances</i></b> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify"> On January 10,















2023, the Company issued a total of&nbsp;800,000&nbsp;options to purchase shares of the Company&rsquo;s common stock to directors















and officers, pursuant to their serving as a director or their consulting or employment agreements, respectively. &nbsp;&nbsp;These















options have an exercise price of $2.52, a term of&nbsp;10&nbsp;years, and 600,000 of these options will vest over 2.5 years and















200,000 of the options will vest upon the Company&rsquo;s establishment of a second clinical program, which shall include an acquisition















or entrance into a joint venture. </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>















































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHROMOCELL















THERAPEUTICS CORPORATION</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A NAME="b007_v1"></A>CONDENSED















BALANCE SHEETS</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; vertical-align: bottom"> <B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></B> </TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> <B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><P STYLE="margin: 0pt 0"> <B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">September&nbsp;30,</FONT></B> </P>


</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> <B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></B> </TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> <B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></B> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><P STYLE="margin: 0pt 0"> <B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">December&nbsp;31,</FONT></B> </P>


</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> <B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></B> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2023</B></FONT> </TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2022</B></FONT> </TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Unaudited)</FONT> </TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 72%; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>ASSETS</U></B></FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 11%; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 11%; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CURRENT ASSETS</B></FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22,786</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55,074</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TOTAL CURRENT ASSETS</B></FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.5pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22,786</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.5pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55,074</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>LIABILITIES
    AND STOCKHOLDERS&rsquo; DEFICIT</U></B></FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CURRENT LIABILITIES</B></FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts payable and accrued expenses</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,160,800</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,993,920</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued compensation</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">562,036</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">221,875</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bridge loan, net of debt discount</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">450,000</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">435,630</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loan payable</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">181,008</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loan payable - related party</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">568,144</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">104,800</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to parent</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,386</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,386</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TOTAL CURRENT LIABILITIES</B></FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,927,374</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,761,611</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>COMMITMENTS AND CONTINGENCIES</B></FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>STOCKHOLDERS&rsquo; DEFICIT</B></FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preferred stock,
    $0.0001 par value, 700,000 shares authorized, 600,000 and 600,000 shares issued and outstanding</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common stock,
    $0.0001 par value, 100,000,000 shares authorized, 8,876,296 and 10,000,000 shares issued and outstanding, respectively</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">888</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,000</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional paid
    in capital</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,574,960</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,431,259</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated deficit</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(9,480,496</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6,138,856</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TOTAL STOCKHOLDERS&rsquo; DEFICIT</B></FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5,904,588</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3,706,537</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TOTAL LIABILITIES AND STOCKHOLDERS&rsquo;
    DEFICIT</B></FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.5pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22,786</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.5pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55,074</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















accompanying notes are an integral part to these condensed financial statements.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>































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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHROMOCELL















THERAPEUTICS CORPORATION</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A NAME="b008_v1"></A>CONDENSED















STATEMENTS OF OPERATIONS</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For
    the Three Months Ended</B></FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For
    the Three Months Ended</B></FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For
    the Nine Months Ended</B></FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For
    the Nine Months Ended</B></FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt">
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>September&nbsp;30,
    2023</B></FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>September&nbsp;30,
    2022</B>&nbsp;&nbsp;&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>September&nbsp;30,
    2023</B></FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 10pt; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>September&nbsp;30,
    2022</B>&nbsp;&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt">
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Unaudited)</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Unaudited)</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Unaudited)</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Unaudited)</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt">
    <TD STYLE="width: 42%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 12%; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 12%; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 11%; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 11%; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>OPERATING EXPENSES</B></FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">General and administrative
    expenses</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">661,572</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">143,229</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,677,078</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">371,283</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Research and development</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">49,132</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">27,981</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">285,204</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">97,147</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Professional fees</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">581,022</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">347,633</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,021,187</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">634,913</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Operating Expenses</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,291,726</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;518,843</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,983,469</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;1,103,343</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NET LOSS FROM
    OPERATIONS</B></FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,291,726</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(518,843</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2,983,469</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(1,103,343</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>OTHER INCOME (LOSS)</B></FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest expense</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(130,006</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(37,812</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(358,171</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(97,818</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Other Loss</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(130,006</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(37,812</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(358,171</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(97,818</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net loss before provision
    for income taxes</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,421,732</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(556,655</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3,341,640</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(1,201,161</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provision for income
    taxes</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 10pt">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NET
    LOSS</B></FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; border-bottom: Black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt; border-bottom: Black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,421,732</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; border-bottom: Black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt; border-bottom: Black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(556,655</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; border-bottom: Black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt; border-bottom: Black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3,341,640</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; border-bottom: Black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt; border-bottom: Black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(1,201,161</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 10pt">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    loss per common share - basic and diluted</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; border-bottom: Black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt; border-bottom: Black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.16</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; border-bottom: Black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt; border-bottom: Black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.10</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; border-bottom: Black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt; border-bottom: Black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.36</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; border-bottom: Black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt; border-bottom: Black 2.5pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.64</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-size: 10pt">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted
    average number of common shares outstanding during the period - basic and diluted</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,860,970</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,543,478</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,286,928</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,868,132</FONT> </TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
</TABLE>





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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;&nbsp;&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















accompanying notes are an integral part to these  condensed financial statements.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>































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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHROMOCELL















THERAPEUTICS CORPORATION&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A NAME="b009_v1"></A>CONDENSED

STATEMENT OF CHANGES IN STOCKHOLDERS&rsquo; DEFICIT</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FOR
THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2023 AND 2022</FONT> </P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Unaudited)</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt"><B>Preferred</B></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt"><B>Additional</B></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt"><B>Total</B></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt"><B>Common</B></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt"><B>Preferred</B></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt"><B>Shares</B></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt"><B>Paid-in</B></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt"><B>Accumulated</B></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt"><B>Stockholders&rsquo;</B></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Shares</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Par</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Shares</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Par</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Capital</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Deficit</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Deficit</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="width: 23%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Balance
    December 31, 2021</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 8%; text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 8%; text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 8%; text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 8%; text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 8%; text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 8%; text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">(3,680,267</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 8%; text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">(3,680,267</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Net distribution from Chromocell Corporation</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">(23,668</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">(23,668</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Net loss</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">(310,450</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">(310,450</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Balance March
    31, 2022</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">(4,014,385</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">(4,014,385</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Net distribution from Chromocell Corporation</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">(18,541</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">(18,541</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Net loss</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">(334,056</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">(334,056</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Balance June
    30, 2022</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">(4,366,982</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">(4,366,982</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Contribution agreement</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">10,000,000</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">10,000</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">600,000</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">600</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;1,889,400</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">1,900,000</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Net contribution from Chromocell Corporation</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;15,930</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;15,930</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Net loss</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;(556,655</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;(556,655</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Balance September 30, 2022</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 2.5pt double"> <FONT STYLE="font-size: 10pt">10,000,000</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"> <FONT STYLE="font-size: 10pt">$&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 2.5pt double"> <FONT STYLE="font-size: 10pt">1,000</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 2.5pt double"> <FONT STYLE="font-size: 10pt">600,000</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 2.5pt double"> <FONT STYLE="font-size: 10pt">60</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"> <FONT STYLE="font-size: 10pt">$&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 2.5pt double"> <FONT STYLE="font-size: 10pt">&nbsp;1,889,400</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 2.5pt double"> <FONT STYLE="font-size: 10pt">&nbsp;(4,907,707</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 2.5pt double"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 2.5pt double"> <FONT STYLE="font-size: 10pt">&nbsp;(3,007,707</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> <FONT STYLE="font-size: 10pt">)</FONT> </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Preferred</B></FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Additional</B></FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Common</B></FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Preferred</B></FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shares</B></FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Paid-in</B></FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Accumulated</B></FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Stockholders&rsquo;</B></FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shares</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Par</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shares</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Par</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Capital</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Deficit</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Deficit</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="width: 23%; padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance
    December 31, 2022</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 8%; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,000,000</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 8%; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,000</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 8%; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">600,000</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 8%; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;$</FONT> </TD>
    <TD STYLE="width: 8%; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,431,259</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 8%; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6,138,856</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="width: 1%; padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 8%; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3,706,537</FONT> </TD>
    <TD STYLE="width: 1%; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: White">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock-based compensation</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">272,221</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">272,221</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    loss</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(966,561</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(966,561</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance
    March 31, 2023</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,000,000</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,000</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">600,000</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,703,480</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7,105,417</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4,400,877</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: White">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock-based compensation</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">327,338</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">327,338</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common stock issued
    for extension of bridge loan</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">50,000</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">125,995</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">126,000</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: White">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares forfeited</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,203,704</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(120</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">120</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    loss</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(953,347</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(953,347</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: White">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance
    June 30, 2023</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,846,296</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">885</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">600,000</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,156,933</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8,058,764</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4,900,886</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: White">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock option compensation</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">342,430</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">342,430</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: White">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common stock issued
    for extension of bridge loan</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">30,000</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">75,597</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">75,600</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
    loss</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,421,732</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,421,732</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: White">
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance
    September 30, 2023</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,876,296</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">888</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">600,000</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,574,960</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(9,480,496</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5,904,588</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part to these condensed financial statements.</FONT> </P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>















































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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHROMOCELL















THERAPEUTICS CORPORATION</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A NAME="b010_v1"></A>CONDENSED















STATEMENTS OF CASH FLOWS</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><P STYLE="margin-top: 0; margin-bottom: 0"> <FONT STYLE="font-size: 10pt"><B>For the Nine</B></FONT> </P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"> <FONT STYLE="font-size: 10pt"><B>Months Ended</B></FONT> </P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><P STYLE="margin-top: 0; margin-bottom: 0"> <FONT STYLE="font-size: 10pt"><B>For
the </B></FONT><FONT STYLE="font-size: 10pt"><B>Nine <BR>
Months Ended</B></FONT> </P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><P STYLE="margin-top: 0; margin-bottom: 0"> <FONT STYLE="font-size: 10pt"><B>September 30,</B></FONT> </P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"> <FONT STYLE="font-size: 10pt"><B>2023</B></FONT> </P></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> <FONT STYLE="font-size: 10pt"><B>September
    30, <BR>
2022</B>&nbsp;&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">(Unaudited)</FONT> </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">(Unaudited)</FONT> </TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt"><B>CASH FLOWS FROM OPERATING ACTIVITIES:</B></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="width: 69%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Net loss</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 10%; text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">(3,341,640</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 13%; text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;(1,201,161</FONT> </TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt"><B>&nbsp;&nbsp;&nbsp;Adjustments to
    reconcile net loss to net cash used in operating activities</B></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization
    of debt discount</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">66,786</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">97,818</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common
    stock issued for extension of bridge loan</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">201,600</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based
    compensation</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">941,989</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt"><B>&nbsp;&nbsp;&nbsp;Changes in operating
    assets and liabilities:</B></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
    payable and accrued expenses</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">1,166,880</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">82,331</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued
    compensation</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">340,161</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">120,481</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Net
    Cash Used In Operating Activities</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">(624,224</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">(900,531</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt"><B>CASH FLOWS FROM FINANCING ACTIVITIES:</B></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Proceeds from loan net of debt discount</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">181,008</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Proceeds from loan net of debt discount
    - related party</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">410,928</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Proceeds from bridge loan net of debt
    discount</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">300,000</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Net contribution from Chromocell Corporation</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">(26,279</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Advance from Chromocell
    Corporation</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&nbsp;800,050</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.5in; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Net
    Cash Provided By Financing Activities</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">591,936</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">1,073,771</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt"><B>NET (DECREASE) INCREASE IN CASH</B></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">(32,288</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">)</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">173,240</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">CASH AT BEGINNING
    OF PERIOD</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">55,074</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">CASH AT END OF
    PERIOD</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">22,786</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">173,240</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt"><B>Supplemental cash flow information:</B></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Cash
    paid for income taxes</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Cash
    paid for interest expense</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt"><B>NONCASH INVESTING AND FINANCING ACTIVITIES:</B></FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Original issuance
    discount on notes payable</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">150,000</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">Shares forfeited</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">120</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> <FONT STYLE="font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD></TR>
</TABLE>





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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















accompanying notes are an integral part to these condensed financial statements.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CHROMOCELL















THERAPEUTICS CORPORATION</B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="b011_v1"></A>NOTES















TO CONDENSED FINANCIAL STATEMENTS</B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(Unaudited)</B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><B>NOTE















1 &ndash; ORGANIZATION AND NATURE OF BUSINESS</B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><B><I>Company















Background&nbsp;&nbsp;</I></B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Chromocell Therapeutics Corporation















(&ldquo;Chromocell&rdquo; or the &ldquo;Company&rdquo;) was incorporated in the State of Delaware on March 19, 2021. On August















10, 2022, the Company entered into that certain Contribution Agreement (the &ldquo;Contribution Agreement&rdquo;) with Chromocell















Corporation, a Delaware corporation (&ldquo;Chromocell Holdings&rdquo;), pursuant to which, effective July 12, 2022 (the &ldquo;Contribution















Date&rdquo;), Chromocell Holdings contributed all assets and liabilities related to Chromocell Holdings&rsquo; historical therapeutic















business, including all patents, pre-clinical and Phase I study results and data, and trade secrets related to the CC8464 compound















to the Company. (See Note 4)</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The















Company is a development stage life sciences company which improves consumer products and patient lives through breakthrough science















and technologies. The Company is focused on the discovery and development of therapeutics through the use of pioneering Chromovert&reg;















technology. Chromovert technology enables the Company to use rare cells ideally suited for effective high-throughput screening.















The Company&rsquo;s therapeutics pipeline is currently focused on analgesics and rare diseases, where Chromovert technology has















proven highly effective in the rapid identification of potential new drug candidates.&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The















Company has a limited operating history and has not generated revenue from intended operations. The Company&rsquo;s business and















operations are sensitive to general business and economic conditions in the U.S. and worldwide along with local, state, and federal















governmental policy decisions. A host of factors beyond the Company&rsquo;s control could cause fluctuations in these conditions.















Adverse conditions may include changes in the biotechnology regulatory environment, technological advances that render our technologies















obsolete, availability of resources for clinical trials, acceptance of technologies into the medical community, and competition















from larger, more well-funded companies. </FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="background-color: white">On















January 30, 2020, the World Health Organization declared the COVID-19 novel coronavirus outbreak a &ldquo;Public Health Emergency















of International Concern&rdquo; and on March 10, 2020, declared it to be a pandemic. Actions taken around the world to help mitigate















the spread of the coronavirus include restrictions on travel, and quarantines in certain areas, and forced closures for certain















types of public places and businesses. The COVID-19 coronavirus and actions taken to mitigate it have had and are expected to















continue to have an adverse impact on the economies and financial markets of many countries, including the geographical area in















which the Company operates. On May 11, 2023, the United States government declared an end to the COVID-19 pandemic, but it is















reasonably possible that future capital raising efforts and additional development of our technologies may still be negatively















affected.</FONT></FONT></P>































<P STYLE="margin: 0pt 0; text-align: justify">&nbsp;<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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><B>NOTE















2 &ndash; GOING CONCERN ANALYSIS</B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><B><I>Management















Plans</I></B></FONT></P>

































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the nine months ended September 30, 2023, the Company had a net loss of $3,341,640 and cash of $22,786 at September 30, 2023.
These factors indicate substantial doubt about the Company&rsquo;s ability to continue as a going concern for the twelve months
following the issuance of these condensed financial statements. The accompanying condensed financial statements have been prepared
assuming that the Company will continue as a going concern.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The















condensed financial statements included in this report do not include any adjustments to reflect the possible future effects on















the recoverability and classification of assets or the amounts and classification of liabilities that may result from the matters















discussed herein. While the Company believes in the viability of our strategy to generate sufficient revenue, control costs, and















raise additional funds, when necessary, there can be no assurances to that effect. The Company&rsquo;s ability to continue as















a going concern is dependent upon the ability to implement the business plan, generate sufficient revenues and to control operating















expenses.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; background-color: white"></FONT><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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Liquidity















and Capital Resources</I></B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> At September 30, 2023, the Company
had $0.0 million in cash and cash equivalents and a working capital deficit of approximately $5.9 million, compared to approximately
$0.1 million in cash and cash equivalents and a working capital deficit of approximately $3.7 million at December 31, 2022. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Based















on the Company&rsquo;s current projections, management believes that due to the lack of cash, revenue and accounts















receivables there is substantial doubt about its ability to continue to operate as a going concern and fund its operations















through at least the next twelve months following the issuance of these condensed financial statements, unless the Company















can raise additional funds through an initial public offering. While the Company will continue to invest in its business and















the development of CC8464, and potentially other molecules, and it is unlikely that the Company will generate product or















licensing revenue during the next twelve months, so the Company will need to raise funds though the initial public offering















or via private investors or both; However, there is no assurance that the Company will be able to raise such additional funds















on acceptable terms, if at all. If the Company raises additional funds by issuing securities, existing stockholders may be















diluted.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If















adequate funds are not available, the Company may be required to curtail its operations or other business activities or obtain















funds through arrangements with strategic partners or others that may require the Company to relinquish rights to certain technologies















or potential markets.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><B>NOTE















3 &ndash; SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><B><I>Basis















of Presentation</I></B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
                                         to the execution of the Contribution Agreement between Chromocell and Chromocell Holdings
                                         (see Note 4), Chromocell did not constitute a separate legal entity or group and as such,
                                         stand-alone financial statements were not previously prepared for the Company. As a result,
                                         carve-out financial statements for Chromocell were prepared for the nine months ended
                                         September 30, 2022, which include all of Chromocell&rsquo;s operations which have been
                                         conducted within Chromocell Holdings, which also has other activities.&nbsp;These condensed
                                         financial statements have been prepared on a stand-alone basis derived from the condensed
                                         financial statements and related accounting records of Chromocell Holdings. The accompanying
                                         carve-out condensed financial statements present the historical financial position, results
                                         of operations, changes in net assets and cash flows of the Company as it was historically
                                         conducted, as more fully described below in Note 4. The financial information in these
                                         condensed financial statements does not necessarily include all the expenses that would
                                         have been incurred had the Company operated as a separate stand-alone entity and may
                                         not reflect results of operations, financial position and cash flows had the Company
                                         been a stand-alone company during the nine months ended September 30, 2022.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">With















the execution of the Contribution Agreement on August 12, 2022, effective for the reporting period ended December 31, 2022 and















all future reporting periods, the condensed financial statements reflect Chromocell as a stand-alone entity.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For















all periods, the Company&rsquo;s condensed financial statements have been prepared in accordance with accounting principles generally















accepted in the United States of America (&ldquo;U.S. GAAP&rdquo;) and the rules and regulations of the Securities and Exchange















Commission (&ldquo;SEC&rdquo;).</FONT></P>















































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B><I>Use of Estimates</I></B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The preparation of condensed financial
statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed financial statements
and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Significant estimates made by management include, but are not limited to, estimating the useful lives of patent assets, realization
of long-lived assets, valuation of deferred income taxes, unrealized tax positions and business combination accounting. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="background-color: white">&nbsp;</FONT></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Cash















and Cash Equivalents</I></B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.
As of September 30, 2023 and December 31, 2022, the Company did not have any cash equivalents. As of September 30, 2023 and December
31, 2022, the Company did not have any deposits in excess of Federally insured limits.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><B><I>Research















and Development</I></B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">We















incur research and development costs during the process of researching and developing our technologies and future offerings. We















expense these costs as incurred unless such costs qualify for capitalization under applicable guidance.&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Below















is a disaggregation of R&amp;D expenses:</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For
    the Nine</B><BR>
    <B>Months Ended</B></FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For
    the Nine</B><BR>
    <B>Months Ended</B></FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>September
    30, 2023</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>September
    30, 2022</B>&nbsp;&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 72%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consultant</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 11%; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">36,200</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 11%; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42,850</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lab Gas</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,731</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lab Cell Storage</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33,000</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31,904</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IP Services</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">216,004</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16,662</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">285,204</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">97,147</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
</TABLE>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>








<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><B><I>Fair















Value Measurements and Fair Value of Financial Instruments</I></B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The















Company adopted FASB ASC Topic 820, Fair Value Measurements (&ldquo;ASC Topic 820&rdquo;). ASC Topic 820 clarifies the definition















of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used















in measuring fair value as follows:</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>































<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">















<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level















                                         1 Inputs are unadjusted quoted prices in active markets for identical assets or liabilities















                                         available at the measurement date.</FONT></TD>















</TR></TABLE>















<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>































<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">















<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level















                                         2 Inputs are unadjusted quoted prices for similar assets and liabilities in active markets,















                                         quoted prices for identical or similar assets and liabilities in markets that are not















                                         active, inputs other than quoted prices that are observable, and inputs derived from















                                         or corroborated by observable market data.</FONT></TD>















</TR></TABLE>















<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>































<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">















<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level















                                         3 Inputs are unobservable inputs which reflect the reporting entity&rsquo;s own assumptions















                                         on what assumptions the market participants would use in pricing the asset or liability















                                         based on the best available information.</FONT></TD>















</TR></TABLE>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">&nbsp;&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The















Company did not identify any assets or liabilities that are required to be presented on the balance sheets at fair value in accordance















with ASC Topic 820.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Due















to the short-term nature of all financial assets and liabilities, their carrying value approximates their fair value as of the















balance sheet dates.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Stock-Based















Compensation</I></B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Company accounts for stock-based compensation costs under the provisions of ASC 718, Compensation&mdash;Stock Compensation, which















requires the measurement and recognition of compensation expense related to the fair value of stock-based compensation awards















that are ultimately expected to vest. Stock-based compensation expense recognized includes the compensation cost for all stock-based















payments granted to employees, officers, and directors based on the grant date fair value estimated in accordance with the provisions















of ASC 718. ASC 718 is also applied to awards modified, repurchased, or cancelled during the periods reported. Stock-based compensation















is recognized as expense over the employee&rsquo;s requisite vesting period and over the nonemployee&rsquo;s period of providing















goods or services. Pursuant to ASC 718, the Company can elect to either recognize the expenses on a straight-line or graded basis















and has elected to do so under the straight-line basis.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Basic















and Diluted Net Loss per Common Share</I></B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Basic loss per common share is computed
by dividing the net loss by the weighted average number of shares of common stock outstanding for each period. Diluted loss per
share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding plus the dilutive
effect of shares issuable through the common stock equivalents. The weighted-average number of common shares outstanding excludes
common stock equivalents because their inclusion would be anti-dilutive. As of September 30, 2023, 1,878,000 stock options were
excluded from dilutive earnings per share as their effects were anti-dilutive. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Income















Taxes</I></B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Company accounts for income taxes pursuant to the provision of ASC 740 &ldquo;Accounting for Income Taxes,&rdquo; which requires,















among other things, an asset and liability approach to calculating deferred income taxes. The asset and liability approach requires















the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between















the carrying amounts and the tax bases of assets and liabilities. A valuation allowance is provided to offset any net deferred















tax assets for which management believes it is more likely than not that the net deferred asset will not be realized.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Company follows the provision of the ASC 740 related to Accounting for Uncertain Income Tax Position. When tax returns are filed,















it is more likely than not that some positions taken would be sustained upon examination by the taxing authorities, while others















are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained.















In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the condensed financial statements















in the period during which, based on all available evidence, management believes it is most likely that not that the position















will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are















not offset or aggregated with other positions.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tax















positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more















than 50% likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated















with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for uncertain















tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing















authorities upon examination. The Company believes its tax positions will more likely than not be upheld upon examination. As















such, the Company has not recorded a liability for uncertain tax benefits.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















federal and state income tax returns of the Company are subject to examination by the Internal Revenue Service and state taxing















authorities, generally for three years after they were filed. The Company is in the process of filing the tax returns for the















2022 year. After review of the prior year financial statements and the results of operations through December 31, 2022, the Company















has recorded a full valuation allowance on its deferred tax asset.&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-size: 10pt"><B><I>Recent
Accounting Pronouncements</I></B></FONT><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;</FONT> </P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There are no recently issued accounting















pronouncements the Company has not yet adopted that will materially impact the Company&rsquo;s consolidated financial statements.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><B><I>Subsequent















Events</I></B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Company has evaluated all transactions through the date the condensed financial statements were issued for subsequent event disclosure















consideration.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTE















4 &ndash; CARVE-OUT CRITERIA AND ASSUMPTIONS</B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















carve-out statements of comprehensive income, as set forth above and which was the subject of the statement contained herein,















reflect direct revenues and expenses and allocations of indirect expenses related to certain support functions that are provided















on a centralized basis by <FONT STYLE="background-color: white">Chromocell Holdings</FONT>. These expenses, assets, and liabilities















have been allocated to the Company on the basis of direct usage when identifiable, with others allocated based on relevant data















criteria.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employment related















    expenses &ndash; allocated all Chromocell direct salaries and an allocation of headquarters salaries based on headcounts.</FONT></TD></TR>

















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">General and administrative















    expenses and Professional fees &ndash; allocated all direct Chromocell related expenses and corporate expense have been allocated















    to reflect the utilization of those corporate services by the Company.</FONT></TD></TR>

















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Research and















    development expenses &ndash; all Research and development expenses are direct Chromocell expenses.</FONT></TD></TR>

















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rent and related















    expenses and security deposits &ndash; applied a ratio based on floor space used by Chromocell.</FONT></TD></TR>

















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Long lived assets
    &ndash; long lived assets are owned by Chromocell Holdings Inc and under shared use by its components including the Company.
    Operating expenses are allocated that reflect the usage of the long-lived asset by the Company.</FONT></TD></TR>

















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts payable















    and accrued expenses &ndash; allocated all direct Chromocell liabilities and an allocation corporate expense reflecting the















    utilization of those corporate services by the Company.</FONT></TD></TR>

















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PPP loan and















    PPP loan forgiveness &ndash; allocated to reflect the utilization of the proceeds by the Company.</FONT></TD></TR>

















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>















    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bridge loan &ndash;















    the bridge loan was fully allocated to the Company. (See Note 6)</FONT></TD></TR>















</TABLE>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chromocell















Holdings uses a centralized approach to cash management of its operations. Any cash excess over comprehensive income earned by















the Company were transferred to Chromocell Holdings through &ldquo;net parent investment.&rdquo; Accordingly, none of the Chromocell















Holdings cash and cash equivalents, have been assigned to the Company in the carve-out combined financial statements.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As















these carve-out financial statements present a portion of the business of Chromocell Holdings, which does not constitute a separate















legal entity for the purposes of carve-out financial statements, the net assets of the Chromocell Holdings have been presented















as parent&rsquo;s net deficit. Except for the PPP loan, Chromocell Holdings third-party bank loans, related party loans and the















related interest expense have not been included in the carve-out financial statements for any of the periods presented. Chromocell















is not the legal obligor on those loans, and they were not directly attributable to the Chromocell operations.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As















the lease is held by Chromocell Holdings, the Company does not have the right to control the use of the space being leased and















only shares the space. As such, there is no lease liability or right of use asset recorded for Chromocell.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management















believes the assumptions underlying the carve-out combined financial statements, including the assumptions regarding allocation















of expenses, are reasonable.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"> For the nine
months ended September 30, 2023, the condensed financial statements reflect Chromocell as a stand-alone entity. </P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE 5 &ndash; RELATED PARTY TRANSACTIONS</B></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Employment Agreement</I></B>&nbsp;&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company entered into an employment















agreement with Christian Kopfli, dated January 10, 2023. Pursuant to such agreement, Mr. Kopfli agreed to serve as the Company&rsquo;s















Chief Executive Officer and Vice-Chairman of its Board of Directors (the &ldquo;Board&rdquo;) in consideration for an annualized















salary of $275,000, payable in cash at the rate of $5,000 per month (a minimum of $1,125 per week), with the remainder accrued















and paid as of the earliest of a sale or liquidation of the Company, the Company&rsquo;s bankruptcy or three days after the approval















by the Board of a funded budget with appropriately established milestones subsequent to the effective date of a Form S-1 registration















statement (&ldquo;Post-registration Approval&rdquo;). Mr. Kopfli also agreed, as of Post-registration Approval, to resign as Chief















Executive Officer of Chromocell Corporation although he may continue to service on the Board of Directors of Chromocell Corporation,















including as its Board Chair. The employment agreement provides that Mr. Kopfli receive an option to acquire 200,000 shares of















the Company&rsquo;s common stock, vesting quarterly over 10 quarters and beginning October 1, 2022. This option shall have an















exercise price equal to the fair market value of the Company&rsquo;s common stock on the date of grant and shall expire on the















10th anniversary of the date of grant. The option was awarded as of January 10, 2023. The employment agreement contemplates an















annual bonus, as determined by the Board. The target bonus is 50% of Mr. Kopfli&rsquo;s annualized salary and will be based on















achievement of performance goals and objectives agreed to by Mr. Kopfli and the Board in January of each year. The Board may increase















the bonus in recognition of performance in excess of the performance objectives. Any bonus shall only be paid if Mr. Kopfli remains















employed on the date of payment, which will be no later than March 15 of the year following the year to which the bonus relates.















Any bonus for 2022 is payable solely at the Board&rsquo;s discretion.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant















to Mr. Kopfli&rsquo;s employment agreement, in the event he is involuntarily terminated by the Company other than for &ldquo;Cause&rdquo;















or if he resigns for &ldquo;Good Reason,&rdquo; he is entitled to receive (i) six months of salary at the same rate existing immediately















prior to his termination, (ii) his target bonus, if performance goals and objectives have been established for the year and prorated















for the period of service, and (iii) six months of additional vesting credit with respect to any outstanding time-based equity















awards. &ldquo;Cause&rdquo; and &ldquo;Good Reason&rdquo; are each defined in the employment agreement.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Finally,















Mr. Kopfli agrees to certain non-solicitation and non-competition provisions for a period of 12 months following termination and















to certain confidentiality obligations. Additional terms and conditions are set forth in the employment agreement.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-size: 10pt">On July 28,
2023, the Company amended and restated Mr. Kopfli&rsquo;s employment agreement whereby Mr. Kopfli&rsquo;s title changed to Vice Chairman
and Chief Strategy Officer. Other terms and conditions of the amended and restated employment agreement remain the same.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </P>

<P STYLE="margin: 0pt 0; text-align: justify"> On November 27, 2023, Mr. Kopfli was removed from the Company&rsquo;s Board by the stockholders having
a majority of the number of votes necessary to take such action. Mr. Kopfli was then terminated from his position as Vice Chairman
and Chief Strategy Officer by the Company for &ldquo;Cause&rdquo;, as defined in Mr. Kopfli&rsquo;s employment agreement, effective
December 1, 2023. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Consulting















Agreement</I></B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company entered into a Consultant















Agreement with Camden Capital LLC, dated January 10, 2023. This consulting agreement replaces an agreement with Mr.















Francis Knuettel II dated June 2, 2022, and pursuant to the agreement, Camden Capital LLC agreed to provide the services of Mr.















Knuettel, who shall serve as our Chief Financial and Strategy Officer, Treasurer and Secretary.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the consulting agreement, Camden















Capital LLC accrued a consulting fee for the period June 6, 2022 through August 31, 2022 of $10,000 per month and effective September















1, 2022, began to accrue a consulting fee of $20,000 per month, payable in cash at the rate of $5,000 per month (a minimum of















$1,125 per week), with the remainder accrued. All accrued consulting fees are payable as of the earliest of a sale or liquidation















of the Company, the Company&rsquo;s bankruptcy or three days after Post-registration Approval. The consulting agreement provides















for the following equity awards to Camden Capital LLC: (i) an option, awarded as of January 10, 2023, to acquire 200,000 shares















of the Company&rsquo;s common stock, vesting quarterly over 10 quarters and beginning October 1, 2022, with the option having















an exercise price equal to the fair market value of the Company&rsquo;s common stock on the date of grant and expiring on the















10th anniversary of the date of grant; (ii) an option, awarded as of January 10, 2023, to acquire 25,000 shares of the Company&rsquo;s















common stock, vesting 100% upon the sooner of the sale of the Company or Post-registration Approval, with the option having an















exercise price equal to the fair market value of the Company&rsquo;s common stock on the date of grant and expiring on the 10th















anniversary of the date of grant; and (iii) an RSU, awarded as of January 10, 2023, of 150,000















shares of the Company&rsquo;s common stock, vesting 100% on the day after the first trading window that opens after















Post-registration Approval.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consulting agreement contemplates















an additional consulting fee, as determined by the Board. The potential additional consulting fee is 50% of the annualized consulting















fee and will be based on achievement of performance goals and objectives established by the Board in concert with Mr. Knuettel















in January of each year. The Board may increase the potential additional consulting fee in recognition of performance in excess















of the performance objectives. Any amount shall only be paid if Camden Capital LLC continues to provide consulting















services to the Company as of the date of payment, which will be no later than March 15 of the year following the year to which















the additional consulting fee relates. Any additional consulting fee for 2022 is payable solely at the Board&rsquo;s discretion.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the consulting agreement,















in the event the relationship with Camden Capital LLC is involuntarily terminated by the Company other than for &ldquo;Cause&rdquo;















or if Camden Capital LLC terminates the relationship for &ldquo;Good Reason,&rdquo; Camden Capital LLC is entitled to receive















(i) six months of consulting fees at the same rate existing immediately prior to termination, (ii) a potential additional consulting















fee, if performance goals and objectives have been established for the year and prorated for the period of service, and (iii)















six months of additional vesting credit with respect to any outstanding time-based equity awards. &ldquo;Cause&rdquo; and &ldquo;Good















Reason&rdquo; are each defined in the consulting agreement.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Finally, Camden Capital LLC and Mr.















Knuettel agree to certain non-solicitation and non-competition provisions for a period of 12 months following termination of the















relationship and to certain confidentiality obligations. Additional terms and conditions are set forth in the consulting agreement.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Director Note</I></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 6, 2022, the Company and

Mr. Todd Davis, one of the Company&rsquo;s directors, entered into the Director Note for $175,000. The Director Note has an original

issuance discount of $75,000, and matures on December 31, 2023, or, if earlier to occur, upon the closing of an underwritten offering

of securities resulting in at least $15 million in gross proceeds.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>April and September Bridge Financings

</I></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 17, 2023 and September 1,

2023, the Company entered into bridge notes, the investors in which were almost entirely existing investors. Related party investors

in the April Bridge Financing include Chromocell Holdings, Boswell Prayer Ltd., Motif Pharmaceuticals Ltd, Aperture Healthcare

Ventures Ltd., MDB Merchants Park LLC, Balmoral Financial Group LLC and AME EQUITIES LLC (each a related party based on share

ownership in excess of 5% or resulting from a principal at one of the entities being on the Company&rsquo;s board of directors).

All of these investors, except Chromocell Holdings, also participated in the September Bridge Financing.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Due to Parent </I></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> As of September 30, 2023 and December
31, 2022, the Company had a $5,386 liability due to its parent company. This amount is comprised of expenses paid by the parent
to be reimbursed by the Company. No interest is incurred on these amounts. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B><I>Side Letter to the Contribution
Agreement and Issuance of Series C Convertible Redeemable Preferred Stock</I></B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On August 2, 2023, the Company entered
into a side letter to the Contribution Agreement (the &ldquo;Holdings Side Letter&rdquo;) with Chromocell Corporation, a Delaware
corporation (&ldquo;Chromocell Holdings&rdquo;). Pursuant to the side letter, upon closing of the Company&rsquo;s initial public
offering (&ldquo;IPO&rdquo;): (a) Chromocell Holdings will re-assume all $1.6 million in direct liabilities previously assumed
by the Company in accordance with the Contribution Agreement, (b) Chromocell Holdings will waive the Company&rsquo;s obligations
to make a cash payment in the amount of $0.6 million to Chromocell Holdings, and (c) in consideration thereof, the Company will
issue to Chromocell Holdings 2,600 shares of Series C Convertible Redeemable Preferred Stock of the Company, par value of $0.0001
per share (the &ldquo;Series C Preferred Stock&rdquo;). </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The Series C Preferred Stock will have
a liquidation preference of $1,000 per share. Holders of the Series C Preferred Stock will not be entitled to dividends, will
have no voting rights other than as required by law, will be convertible into shares of Common Stock following the IPO at the
holder&rsquo;s option, will convert into shares of Common Stock automatically if, following the IPO, the trading price of the
Common Stock exceeds certain thresholds, and will be redeemable by the Company for cash. </P>








<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT>&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTE















6 &ndash; NOTE PAYABLE</B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On February 4, 2022, the Company entered
into a note for $450,000 with a third party. This note has an original issuance discount of $150,000, representing an implicit
interest rate of 50%, a maturity date of February 3, 2023, and accrues no interest beyond the original issuance discount. As of
September 30, 2023, the debt discount was fully amortized. There was $14,370 and $97,818, respectively, in amortization of debt
discount included in interest expense on the statement of operations for the nine months ended September 30, 2023 and 2022. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On February 27, 2023, the note agreement
was amended. The maturity date was extended from its original due date of February 3, 2023 to May 15, 2023, in return for the
Company agreeing to pay 2% per month in accrued interest and the third party agreeing to settle its outstanding debt, including
accrued interests in shares of common stock at the IPO. Accrued interest and related interest expense totaled $71,036 for the
nine months ended September 30, 2023, compared to $0 for nine months ended September 30, 2022. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On June 23, 2023, the Company entered
into a side letter with the holder of the note pursuant to which the Company (i) amended and restated the note to extend the maturity
date to August 15, 2023 and (ii) in consideration therefor, issued to such holder 50,000 shares of common stock. The Company determined
that this extension qualified as a modification of the note rather than an extinguishment. The Company recorded an expense of
$126,000 from the issuance of the 50,000 shares of common stock based on a share price of $2.52. The $2.52 share price was based
on a third-party valuation of the company&rsquo;s common stock, with certain adjustments as set forth below in detail in Note
7 &ndash; Stockholders&rsquo; Equity. This expense was recorded to interest expense on the Company statement of operations for
the nine months ended September 30, 2023. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On August 17, 2023, the Company entered
into a second side letter with the holder of the Investor Note (the &ldquo;August Investor Note Side Letter&rdquo; and, together
with the June Investor Note Side Letter, the &ldquo;Investor Note Side Letters&rdquo;) pursuant to which the Company (i) amended
and restated the Investor Note to extend the maturity date to September&nbsp;30, 2023 and (ii) in consideration therefor, issued
to such holder 30,000 shares of Common Stock. On September 24, 2023, the Company entered into an amendment to the Investor Note,
which further extended the maturity date to October 10, 2023. The Investor Note provides for the accrual of interest equal to
2% of the face amount of $450,000 per month ($9,000 per month) and obligates the holder to subscribe for securities in the IPO
in full satisfaction of our repayment obligations. In addition, pursuant to the Investor Note Side Letters, the Company agreed
to register the 80,000 shares of Common Stock (50,000 issued for the June 23, 2023 side letter, and 30,000 issued for the August
17, 2023 side letter) for resale. The Company recorded an expense of $75,600 from the issuance of the 30,000 shares of common
stock based on a share price of $2.52. The $2.52 share price was based on a third-party valuation of the company&rsquo;s common
stock, with certain adjustments as set forth below in detail in Note 7 &ndash; Stockholders&rsquo; Equity. This expense was recorded
to interest expense on the Company statement of operations for the nine months ended September 30, 2023. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On December 6, 2022, the Company and
Mr. Todd Davis, one of the Company&rsquo;s directors, entered into a note payable agreement (the &ldquo;Director Note&rdquo;)
for $175,000. The Director Note has an original issuance discount of $75,000, no other interest and matures on December 31, 2023,
or, if earlier to occur, upon the closing of an underwritten offering of securities resulting in at least $15 million in gross
proceeds. Mr. Davis, as lender, has the right but not the obligation to subscribe to the underwritten offering by presenting the
Director Note in whole or in part to purchase such securities as legal tender therefor, on a dollar-for-dollar basis based upon
the offering price of such securities to the public. The Director Note bears no interest except in the case of certain events
of default.&nbsp;As of September 30, 2023, there was an unamortized debt discount of $17,784. There was $52,416 in amortization
of debt discount included in interest expense on the statement of operations for the nine months ended September 30, 2023. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On April 17, 2023, the Company entered
into a bridge loan for working capital purposes, with various accredited investors, all of whom are pre-existing stockholders,
in the aggregate principal amount of $393,808 (the &ldquo;April Bridge Financing&rdquo;). During the three months ended March
31, 2023, the Company received $166,903&nbsp;in Advances from certain participating investors. Such Advances accrued interest
at a rate of 8% per annum until close of the April Bridge Financing on April 17, 2023, for a total of $1,870 in aggregate interest
on all Advances. The April Bridge Financing consists of senior secured convertible notes that have a maturity date of October
17, 2023. Such notes accrue interest on the unpaid principal amount at a rate of 8% per annum and will automatically convert into
shares of common stock at the initial public offering of shares of Common Stock at a 20% discount to the price per IPO Share.
The senior secured convertible notes issued in the April Bridge Financing are secured by a security interest in all of our assets
(including our patents and intellectual property licenses). In connection with the April Bridge Financing, on April 17, 2023,
the Company also entered into a securities purchase agreement with holders of the notes, pursuant to which the Company is required
to file a registration statement within 180 calendar days after consummation of the IPO, providing for the resale of Common Stock
received by holders of the notes upon conversion of such notes. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On September 1, 2023, the Company entered
into a bridge loan for working capital purposes, with various accredited investors, certain of which are pre-existing stockholders,
in the aggregate principal amount of $198,128 (the &ldquo;September Bridge Financing&rdquo;). The September Bridge Financing consists
of senior secured convertible notes that have a maturity date of March 1, 2024. Such notes accrue interest on the unpaid principal
amount at a rate of eight percent (8%) per annum and will automatically convert into shares of Common Stock in connection with
the IPO at a twenty percent (20%) discount to the price per IPO Share plus an additional 551 shares of Common Stock issuable as
further consideration for the September Bridge Financing. The senior secured convertible notes issued in the September Bridge
Financing are secured by a security interest in all of our assets (including our patents and intellectual property licenses).
In connection with the September Bridge Financing, on September 1, 2023, the Company also entered into a securities purchase agreement
with holders of the notes, pursuant to which the Company is required to file a registration statement within 180 calendar days
after consummation of the IPO, providing for the resale of Common Stock received by holders of the notes upon conversion of such
notes. Additionally, we entered into a subordination and intercreditor agreement, effective September 1, 2023, with the holders
of the senior secured convertible notes issued in the April Bridge Financing, pursuant to which those notes and certain liens
of the Company would be subordinated to the rights of the holders of the notes issued in the September Bridge Financing. </P>










<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTE















7 &ndash; STOCKHOLDERS&rsquo; EQUITY</B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><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: 0pt 0; text-align: justify; background-color: white"><B><I>Share Forfeiture</I></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Pursuant to

the terms of the April Bridge Financing, Chromocell Holdings forfeited 1,203,704 of the shares of common stock of the Company

on April 17, 2023. All shareholders with ownership stakes greater than 5% of the Company agreed that the failure to invest its

pro rata allocation in the April Bridge Financing would result in the forfeiture of a pro rata percentage of their shares. Chromocell

Holdings did not invest its full pro rata allocation, leading to the forfeiture of a portion of their shares of common stock of

the Company.</P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Stock-Based















Compensation</I></B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Options&nbsp;</B></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 10, 2023, the















Company granted options to acquire 450,000&nbsp;shares of the Company&rsquo;s common stock to employees and consultants of the















Company pursuant to their employment or consulting agreements. These options had a grant date fair value of $1,122,244. These















options have an exercise price of $2.52, a term of&nbsp;10&nbsp;years, and vest quarterly over ten quarters, with such vesting















commencing on October 1, 2022. Since the options began vesting on October 1, 2022, despite being approved by the board of directors















on January 10, 2023, the Company applied guidance found in ASC 718-10-55-82 which indicate that the grant date for an award will















be the date that a grantee begins to benefit from, or be adversely affected by, subsequent changes in the price of the grantor&rsquo;s















equity shares. Since the options began vesting on October 1, 2022, the Company began recording the related expense for the options















at the same time and recognized the issuance of the options as a 2022 event.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On















January 10, 2023, the Company granted an option to acquire 25,000 shares of the Company&rsquo;s common stock to a consultant of















the Company pursuant to their consulting agreements. This option had a grant date fair value of $62,336. This option has an exercise















price of $2.52, a term of&nbsp;10&nbsp;years, and vests upon the IPO or sale of the Company.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 10, 2023, the Company issued















a total of&nbsp;800,000&nbsp;options to purchase shares of the Company&rsquo;s common stock to several of its directors, pursuant















to their serving as a director.&nbsp;These options had a grant date fair value of $1,994,768. These options have an exercise price















of $2.52, a term of&nbsp;10&nbsp;years, and 600,000 of these options will vest over 2.5 years commencing on January 10, 2023,















and 200,000 of the options will vest upon the Company&rsquo;s establishment of a second clinical program, which shall include















an acquisition or entrance into a joint venture.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 9, 2023, the Company issued















an option to acquire 135,000 shares of the Company&rsquo;s common stock to a director, pursuant to their serving as a director.















This option had a grant date fair value of $336,606. This option has an exercise price of $2.52, a term of&nbsp;10&nbsp;years,















and will vest over 2.25 years commencing on March 9, 2023.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify">On May 15, 2023, the Company issued an option

to acquire 250,000 shares of the Company&rsquo;s common stock to a director, pursuant to their serving as a director. This option had

a grant date fair value of $623,057. This option has an exercise price of $2.52, a term of&nbsp;10&nbsp;years, and vests upon the IPO

or sale of the Company.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 15, 2023, the Company issued an option

to acquire 218,000 shares of the Company&rsquo;s common stock to a director, pursuant to their serving as a director. This option had

a grant date fair value of $543,306. This option has an exercise price of $2.52, a term of&nbsp;10&nbsp;years, and will vest over 3 years.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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-top: 0pt; margin-bottom: 0pt; text-align: justify"> During the nine
months ended September 30, 2023, the fair value of each stock option granted was estimated using the Black-Scholes Option Pricing
Model using the following inputs: </P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">















<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">















    <TD STYLE="width: 87%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercise price</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.52</FONT></TD>















    <TD STYLE="width: 1%; text-align: left; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>















<TR STYLE="vertical-align: bottom; background-color: White">















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expected dividend

    yield</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</FONT></TD>















    <TD STYLE="text-align: left; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>















<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk free interest

    rate</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.50-3.93</FONT></TD>















    <TD STYLE="text-align: left; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>















<TR STYLE="vertical-align: bottom; background-color: White">















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expected life in

    years</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD>















    <TD STYLE="text-align: left; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>















<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expected volatility</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>















    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">157-158</FONT></TD>















    <TD STYLE="text-align: left; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>















</TABLE>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















risk-free interest rate assumption for options granted is based upon observed interest rates on the United States Government Bond















Equivalent Yield appropriate for the expected term of the options.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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: 0pt 0; text-align: justify"> With
                                         certain adjustments outlined below, the Company based its determination of the underlying
                                         fair value of the Company&rsquo;s common stock on the findings of an independent third
                                         party engaged by the Company to determine the fair value of the Company&rsquo;s intellectual
                                         property. The Company had the analysis conducted in conjunction with the Contribution
                                         Agreement, which was executed on August 10, 2022. The analysis determined that the fair
                                         value of the Company&rsquo;s intellectual property was $44.8 million. At the time of
                                         the Contribution Agreement and the option grants, there was 10,685,714 shares (on an
                                         as converted basis reflecting the conversion of the 600,000 Series A Convertible Preferred
                                         Stock held by Chromocell Holdings). The resulting value per common share was $4.19. The
                                         Company then adjusted this value in accordance with the following: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 70%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 0.93in">















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 50%; border: Black 1pt solid; text-align: justify; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Value















    of intellectual property</FONT></TD>















    <TD STYLE="width: 20%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$44.8















    million</FONT></TD></TR>















<TR STYLE="vertical-align: top">















    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify; padding-right: 5.4pt; padding-left: 5.4pt">Common















    s<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">hares outstanding (as converted)</FONT></TD>















    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,685,714</FONT></TD></TR>















<TR STYLE="vertical-align: top">















    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Value















    per common share</FONT></TD>















    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$4.19</FONT></TD></TR>















<TR STYLE="vertical-align: top">















    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Illiquidity















    discount</FONT></TD>















    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20%</FONT></TD></TR>















<TR STYLE="vertical-align: top">















    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minority















    discount</FONT></TD>















    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20%</FONT></TD></TR>















<TR STYLE="vertical-align: top">















    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair















    value of the common stock</FONT></TD>















    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$2.52</FONT></TD></TR>















</TABLE>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Company determined the expected volatility assumption for options granted using the historical volatility of comparable public















companies&rsquo; common stock. The Company will continue to monitor peer companies and other relevant factors used to measure















expected volatility for future option grants, until such time that the Company&rsquo;s common stock has enough market history















to use historical volatility.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















dividend yield assumption for options granted is based on the Company&rsquo;s history and expectation of dividend payouts. The















Company has never declared nor paid any cash dividends on its common stock, and the Company does not anticipate paying any cash















dividends in the foreseeable future.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















Company recognizes option forfeitures as they occur as there is insufficient historical data to accurately determine future forfeitures















rates.</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















following is an analysis of the stock option grant activity:</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Weighted</B><BR>
    <B>Average</B></FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Weighted</B><BR>
    <B>Average</B></FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exercise</B>&nbsp;&nbsp;</FONT> </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Price&nbsp;</B></FONT> </P></TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Remaining</B><BR>
    <B>Life</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Stock Options</I></B></FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 58%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding December 31,
    2022</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 11%; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">450,000</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 11%; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.52</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 11%; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.76</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,428,000</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.52</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.67</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expired</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercised</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding
    September 30, 2023</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,878,000</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.52</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.32</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisable
    September 30, 2023</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;419,833</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.52</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.20</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
</TABLE>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> A summary of the status of the Company&rsquo;s
nonvested options as of September 30, 2023, and changes during the nine months ended September 30, 2023, is presented below: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Non-vested
    Options</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Options</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Weighted-</B><BR>
    <B>Average</B><BR>
    <B>Exercise</B><BR>
    <B>Price</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 72%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-vested at December
    31, 2022</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 11%; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">410,000</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 11%; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.52</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,428,000</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.52</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vested</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(379,833</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.52</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forfeited</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-vested
    at September 30, 2023</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,458,167</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.52</FONT> </TD>
    <TD STYLE="padding-bottom: 2.5pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
</TABLE>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The total number of options granted
during the nine months ended September 30, 2023 and 2022 was&nbsp;1,428,000&nbsp;and&nbsp;0, respectively. The exercise price
for these options was $2.52&nbsp;per share and there was an intrinsic value of $0. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> The Company recognized stock-based
compensation expense related to option vesting amortization of $941,989&nbsp;and $0&nbsp;for the nine months ended September 30,
2023 and 2022, respectively, which is included in general and administrative expenses in the statement of operations. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> As of September 30, 2023, the unamortized
stock option expense was $2,184,284. As of September 30, 2023, the weighted average period for the unamortized stock compensation
to be recognized is 3.85 years. </P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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: 0pt 0; text-align: justify">On June 22, 2023, the Company and Camden

Capital LLC amended and restated the Consultant Agreement by entering into an Amended and Restated Consultant Agreement, whereby

the RSU for 150,000 shares of common stock was cancelled, and the Company agreed to grant Camden Capital LLC an option to acquire

250,000 shares of common stock within 30 days of the closing of the IPO. As of June 22, 2023, such RSU for 150,000 shares of common

stock had not vested, and no expense was recorded on the Company&rsquo;s financial statements.</P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTE















8 &ndash; SUBSEQUENT EVENTS</B></FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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: 0pt 0; text-align: justify"> <B><I>Standby Investor Side letter</I></B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On October 11, 2023, the Company entered
into a securities purchase agreement with an institutional investor (the &ldquo;Standby Investor&rdquo;), pursuant to which (i)
the Standby Investor agreed to purchase, upon close of the IPO and at the Company&rsquo;s election, an aggregate of up to 750
shares of Series B Convertible Preferred Stock, par value of $0.0001 per share (the &ldquo;Series B Preferred Stock&rdquo;) for
a purchase price of $1,000 per share, and (ii) in consideration therefor, the Company would issue upon close of the IPO, and regardless of whether the Company would have issued any shares of Series B Preferred Stock, an aggregate
of 37,500 shares (such shares, the &ldquo;Standby Shares&rdquo;) of Common Stock to the Standby Investor (such agreement, the
&ldquo;Series B Securities Purchase Agreement&rdquo;). In addition, pursuant to the Series B Securities Purchase Agreement, the
Company was required to file a registration statement within 180 calendar days after consummation of the IPO, providing for the
resale of the Standby Shares and shares of Common Stock issuable upon conversion of the Series B Preferred Stock, if issued. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Effective November 13, 2023, the Company
entered into a side letter with the Standby Investor (the &ldquo;Standby Investor Side Letter&rdquo;), pursuant to which it (i)
waived in full the Standby Investor&rsquo;s obligation to fund the aggregate amount to be paid for the Series B Preferred Stock
to be purchased under the Series B Securities Purchase Agreement and (ii) agreed to continue to have the obligation to issue the
full amount of the Standby Shares upon the closing of the IPO. The Company and the Standby Investor also agreed to terminate each
of their obligations solely with respect to the Series B Preferred Stock under the Series B Securities Purchase Agreement and
that certain Registration Rights Agreement between the Company and the Standby Investor, which was required to be delivered pursuant
to the Series B Securities Purchase Agreement. </P>










<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Amendment to Investor Note</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Effective October 10, 2023, the Company
entered into a side letter with the holder Investor Note, which extended the maturity date of the Investor Note to November 14,
2023 and the Company issued to the Holder 30,000 shares of Common Stock. </P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Effective November 13, 2023, the Company
entered into another side letter with the holder of the Investor Note (the &ldquo;November Investor Note Side Letter&rdquo;) pursuant
to which the Company (i) amended and restated the Investor Note to extend the maturity date to January 31, 2024, and (ii) in consideration
therefor, agreed to issue to such Holder 30,000 shares of Common Stock on each of November 29, 2023, December 29, 2023 and January
29, 2024 (collectively, the &ldquo;November Leak-Out Shares&rdquo;), provided the Investor Note remained outstanding as of such
date. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B><I>October Promissory Notes</I></B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On October 12, 2023, the Company and
four existing investors entered into promissory notes (the &ldquo;October Promissory Notes&rdquo;) with an aggregate face amount
of $210,000 and an aggregate purchase price of $175,000. The October Promissory Notes mature on November 12, 2023 or, if earlier
to occur, upon the closing of the IPO. The October Promissory Notes bear no interest except in the case of certain events of default.
On November 7, 2023, the Company amended and restated the October Promissory Notes to extend the maturity dates of the October
Promissory Notes to November 17, 2023. On November 13, 2023, the Company amended and restated the October Promissory Notes to
further extend the maturity dates of the October Promissory Notes to February 29, 2024. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B><I>Amendments to April Bridge Financing
Notes</I></B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On October 12, 2023, the Company entered
into a first amendment to the senior secured convertible notes in the April Bridge Financing, which extended the maturity of the
notes to November 1, 2023. On October 24, 2023, the Company entered into a second amendment to the senior secured convertible
notes in the April Bridge Financing, which extended the maturity of the notes to November 14, 2023. On November 13, 2023, the
Company entered into a third amendment to the senior secured convertible notes in the April Bridge Financing, which further extended
the maturity of the notes to February 29, 2024. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B><I>Rights Offering</I></B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
November 22, 2023, the Company commenced a rights offering (the &ldquo;Rights Offering&rdquo;) pursuant to which the Company distributed
non-transferable subscription rights (&ldquo;Subscription Rights&rdquo;) to each holder of its Common Stock held as of 5:00 p.m.
Eastern Standard Time on November 22, 2023, the record date for the Rights Offering (the &ldquo;Rights Offering Record Date&rdquo;).
The Subscription Rights could be exercised at any time during the subscription period, which commenced on November 22, 2023 and
expired at 5:00 p.m., Eastern Standard Time, on December 1, 2023. Each Subscription Right entitled the eligible holder to purchase
up to three shares of the Company&rsquo;s Common Stock at a price per whole share of Common Stock of $0.0112 (the &ldquo;Subscription
Price&rdquo;). Holders who fully exercised their rights could also subscribe for additional shares of Common Stock not subscribed
for by other holders on a pro rata basis. In addition, the Company could distribute to one or more additional persons, at no charge
to such person, additional non-transferable subscription rights to purchase shares of its Common Stock in the Rights Offering
at the same Subscription Price, without notice to the holders of its Common Stock. Upon the closing of the Rights Offering, the
Company issued an aggregate of 22,732,336 shares of Common Stock and received aggregate net proceeds of $254,602, which it intends
to use primarily for general corporate purposes and expenses associated with the IPO.</FONT> </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B><I>Benuvia License Agreement</I></B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B><I>&nbsp;</I></B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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: 0pt 0; text-align: justify"> On December 23, 2023, the Company entered
into an exclusive licensing agreement (the &ldquo;Benuvia License Agreement&rdquo;) with Benuvia Operations, LLC (&ldquo;Benuvia&rdquo;)
for a sublingual formulation of a Diclofenac spray for the treatment of acute pain, a Rizatriptan sublingual spray formulation
and an Ondansetron sublingual spray formulation (collectively, the &ldquo;Spray Formulations&rdquo;), diversifying its pipeline
of non-opioid pain treatment therapies, while adding therapeutic options for related conditions. The Diclofenac Spray Formulation
is patented and has started clinical development in human volunteers. Preliminary pharmacokinetics suggest that this formulation
may have a faster onset of action than oral Diclofenac tablets. Diclofenac is a non-steroidal anti-inflammatory drug that is also
marketed under additional brand names including Voltaren and Cataflam in its pill form. Rizatriptan, whose brand name is Maxalt,
is used for the acute treatment of Migraines as a pill. By a number of clinical measures it is thought to be superior to Sumatriptan.
A sublingual formulation of Rizatriptan may potentially have a faster onset of action than an oral form and may be easier to tolerate
than swallowing a pill when patients are experiencing nausea as a result of the migraine headache. Ondansetron is an anti-emetic
that is available in oral and intravenous form. An Ondansetron sublingual spray formulation may potentially have a faster onset
of action than an oral form and may be easier to tolerate than swallowing a pill when patients are experiencing nausea. Under
the terms of the Benuvia License Agreement, Benuvia will be responsible for the manufacturing and supply of the Spray Formulations,
but the Company will have exclusive, worldwide rights to develop, commercialize and distribute the Spray Formulations. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> In connection with the Benuvia License
Agreement, the Company agreed to pay Benuvia a 6.5% royalty on net sales of the Spray Formulations for a period of up to 15 years
from the date of the first commercial sale of any of the Spray Formulations. In addition, on December 23, 2023, the Company entered
into a stock issuance agreement with Benuvia pursuant to which the Company agreed to issue Benuvia 384,226 shares of the Company&rsquo;s
Common Stock, which may be offered and sold pursuant to a resale prospectus. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <B><I>Amendment to Director Note</I></B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On December 28, 2023, the Company entered
into an amendment to the Director Note, which extended the maturity date to February 29, 2024. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>































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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>1,038,674 SHARES OF COMMON STOCK</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>51,933  SHARES OF COMMON STOCK UNDERLYING
THE REPRESENTATIVE&rsquo;S WARRANTS</B> </P>
































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: Red; text-indent: 0"><IMG SRC="img002_v1.jpg" ALT="">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 20pt"><b>CHROMOCELL















THERAPEUTICS<br>















 CORPORATION</b></font></p>































<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-size: 10pt">&nbsp;</font></p>































<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-size: 10pt"></font></p>































<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-size: 10pt">&nbsp;</font></p>































<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&nbsp;</b></font></p>































<table cellspacing="0" cellpadding="0" align="CENTER" style="width: 40%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">















<tr style="vertical-align: top">















    <td style="width: 100%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 12pt; padding-bottom: 12pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B>PRELIMINARY
    PROSPECTUS</B></FONT></td></tr>















</table>















<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&nbsp;</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>&nbsp;</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>&nbsp;</b></font></p>































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr style="vertical-align: top">















    <td style="width: 100%; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt"><B>A.G.P.</B></FONT> </td></tr>















</table>















<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"></P>

<P STYLE="margin: 0pt 0">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>The
date of this prospectus is&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2024</B></FONT> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b>&nbsp;</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase"><b>&nbsp;</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase"><b>&nbsp;</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase"><b>&nbsp;</b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through
and including &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2024 (25 days
after the date of this prospectus), all dealers that effect transactions in these securities, whether or not participating in
this offering, may be required to deliver a prospectus. This delivery requirement is in addition to a dealer&rsquo;s obligation
to deliver a prospectus when acting as an underwriter and with respect to their unsold allotments or subscriptions.</FONT> </p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>















































<!-- Field: Page; Sequence: 149 -->















    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><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: 0pt 0; text-align: center">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[RESALE PROSPECTUS ALTERNATE FRONT COVER















PAGE]</p>































































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: red">The information in this preliminary
prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the
Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and we are
not soliciting offers to buy these securities in any jurisdiction where the offer or sale is not permitted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: red">&nbsp;&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red"><font style="text-transform: uppercase">Prospectus















</font></p>































































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><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: 0pt 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14.1pt; text-align: center; color: red"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14.1pt; text-align: center; color: red"></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14.1pt; text-align: center; color: red"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 14.1pt; text-align: center; color: red"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.1pt; text-align: center; color: red"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.1pt; text-align: center; color: red"> SUBJECT TO COMPLETION,
DATED JANUARY 16, 2024 </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.1pt; text-align: center; color: red"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 14.1pt; text-align: center; color: red"></P>

<P STYLE="margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14.1pt; text-align: center; color: red"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>2,909,353 SHARES OF COMMON STOCK</B> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> This prospectus relates to the resale by the selling stockholders identified herein (the &ldquo;Selling
Stockholders&rdquo;) of an aggregate of 2,909,353 shares of common stock, par value $0.0001 per share (the &ldquo;Common Stock&rdquo;),
of Chromocell Therapeutics Corporation (&ldquo;Chromocell,&rdquo; the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us&rdquo;
or &ldquo;our&rdquo;) issued by us prior to the consummation of this offering. We are registering on the registration statement
of which this prospectus forms a part 2,909,353 shares of common stock (the &ldquo;Selling Stockholder Shares&rdquo;), which are
being registered for resale by the Selling Stockholders, and 1,038,674 shares of Common Stock (the &ldquo;IPO Shares&rdquo;), which
are being registered in connection with the initial public offering of the Company (the &ldquo;IPO&rdquo;).&nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
offering of the Selling Stockholder Shares by the Selling Stockholders is conditioned on the closing of our IPO. The Selling Stockholder
Shares may be sold at prevailing market prices, prices related to prevailing market prices or at privately negotiated prices.
We will not receive any proceeds from the sale of any of the Stockholder Shares sold by the Selling Stockholders. The offering
of the Selling Stockholder Shares by the Selling Stockholders will terminate at the earlier of such time as all of the Selling
Stockholder Shares have been sold pursuant to this registration statement and the date on which it is no longer necessary to maintain
the registration of the Selling Stockholder Shares as a result of such shares being permitted to be offered and resold without
restriction pursuant to the provisions of Rule 144 of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;).</FONT> </P>
































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>























































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We

are an emerging growth company as that term is used in the Jumpstart Our Business Startups Act of 2012 and, as such, have elected

to comply with certain reduced public company reporting requirements for this prospectus and future filings. See &ldquo;Prospectus

Summary&thinsp;&mdash;&thinsp;Implications of Being an Emerging Growth Company and a Smaller Reporting Company.&rdquo;</FONT></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Investing in our securities involves

a high degree of risk. You should review carefully the risks and uncertainties described under the heading &ldquo;Risk Factors&rdquo;

beginning on page 9 of this prospectus and under similar headings in any amendments or supplements to this prospectus. Neither

the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or

passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.</B></P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> The date of this prospectus is &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2024 </p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<!-- Field: Page; Sequence: 150 -->















    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&nbsp;</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;[RESALE PROSPECTUS ALTERNATE BACK















COVER PAGE]</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b></b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-size: 20pt"><b>CHROMOCELL















THERAPEUTICS<br>















CORPORATION</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>











<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>2,909,353
SHARES OF COMMON STOCK</B> </P>

















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><br>















<br></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <FONT STYLE="font-size: 10pt"><B>The
date of this prospectus is&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2024</B></FONT> </p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0">&nbsp;<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&nbsp;&nbsp;</b></font></p>















<!-- Field: Page; Sequence: 151 -->















    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->















<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"><b>PART















II</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><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: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INFORMATION















NOT REQUIRED IN THE PROSPECTUS</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item&nbsp;13.















Other Expenses of Issuance and Distribution.</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>































<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth the

costs and expenses, other than the underwriting discounts and commissions, payable by the registrant in connection with the sale

of our securities being registered. All amounts are estimates except for the Securities and Exchange Commission (&ldquo;SEC&rdquo;)

registration fee, the Financial Industry Regulatory Authority, Inc. (&ldquo;FINRA&rdquo;) filing fee and the NYSE American (&ldquo;NYSE

American&rdquo;) listing fee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Amount</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>Paid or</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>to&nbsp;be&nbsp;Paid</B></FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 65%"> <FONT STYLE="font-size: 10pt">SEC registration fee</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="width: 12%; text-align: right"> <FONT STYLE="font-size: 10pt">4,009</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-size: 10pt">FINRA filing fee</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">1,876</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-size: 10pt">NYSE American listing fee</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">50,000</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-size: 10pt">Printing and engraving expenses</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">40,000</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-size: 10pt">Legal fees and expenses</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">250,000</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> <FONT STYLE="font-size: 10pt">Accounting fees and expenses</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">40,000</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-size: 10pt">Underwriter out-of-pocket accountable expenses</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-size: 10pt">100,000</FONT> </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD> <FONT STYLE="font-size: 10pt">Total</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="border-bottom: black 2.25pt double"> <FONT STYLE="font-size: 10pt">$</FONT> </TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"> <FONT STYLE="font-size: 10pt">485,885</FONT> </TD>
    <TD> &nbsp; </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item&nbsp;14.















Indemnification of Directors and Officers.</font></p>































<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We















are incorporated under the laws of the State of Delaware. Section&nbsp;102 of the General Corporation Law of the State of Delaware















permits a corporation to eliminate the personal liability of directors of a corporation to the corporation or its stockholders















for monetary damages for a breach of fiduciary duty as a director, except where the director breached his duty of loyalty, failed















to act in good faith, engaged in intentional misconduct or knowingly violated a law, authorized the payment of a dividend or approved















a stock repurchase in violation of Delaware corporate law or obtained an improper personal benefit.</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section&nbsp;145















of the DGCL provides that a corporation has the power to indemnify a director, officer, employee or agent of the corporation and















certain other persons serving at the request of the corporation in related capacities against expenses (including attorneys&rsquo;















fees), judgments, fines and amounts paid in settlements actually and reasonably incurred by the person in connection with an action,















suit or proceeding to which he is or is threatened to be made a party by reason of such position, if such person acted in good















faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation, and, in any criminal















action or proceeding, had no reasonable cause to believe his conduct was unlawful, except that, in the case of actions brought















by or in the right of the corporation, no indemnification shall be made with respect to any claim, issue or matter as to which















such person shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery















or other adjudicating court determines that, despite the adjudication of liability but in view of all of the circumstances of















the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other















court shall deem proper.</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As permitted by the DGCL, our certificate















of incorporation and bylaws to be in effect upon the closing of the IPO provide that: (i)&nbsp;we are required to indemnify our















directors and officers to the fullest extent permitted by the DGCL; (ii)&nbsp;we may, in our discretion, indemnify our employees















and agents as set forth in the DGCL; (iii)&nbsp;we are required, upon satisfaction of certain conditions, to advance all expenses















incurred by our directors and officers in connection with certain legal proceedings; (iv)&nbsp;the rights conferred in the bylaws















are not exclusive; and (v)&nbsp;we are authorized to enter into indemnification agreements with our directors, officers, employees















and agents.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































<!-- Field: Page; Sequence: 152; Options: NewSection; Value: 1 -->















    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></P>







<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have entered into indemnification



agreements with our directors and executive officers that require us to indemnify them against expenses, judgments, fines, settlements



and other amounts that any such person becomes legally obligated to pay (including with respect to a derivative action) in connection



with any proceeding, whether actual or threatened, to which such person may be made a party by reason of the fact that such person



is or was a director or officer of us or any of our affiliates, provided such person acted in good faith and in a manner such



person reasonably believed to be in, or not opposed to, our best interests. We maintain a directors&rsquo; and officers&rsquo;



liability insurance policy. The policy insures directors and officers against unindemnified losses arising from certain wrongful



acts in their capacities as directors and officers and reimburses us for those losses for which we have lawfully indemnified the



directors and officers. The policy contains various exclusions.</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify"> In addition, the underwriting agreement
for the offering of IPO Shares to be filed as Exhibit 1.1 to this Registration Statement provides for indemnification by the underwriters
of us and our officers and directors for certain liabilities arising under the Securities Act of 1933, as amended (the &ldquo;Securities
Act&rdquo;) or otherwise. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>































<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item&nbsp;15.















Recent Sales of Unregistered Securities.</font></p>































<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-align: justify"> The share amounts presented herein
do not give effect to the 1-for-9&nbsp;Reverse Stock Split in connection with the IPO Transactions. Pursuant to that certain Contribution
Agreement entered into with Chromocell Holdings, we issued to Chromocell Holdings 10,000,000 shares of Common Stock and 600,000
shares of Series A Preferred Stock. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 10, 2023, pursuant to the Chromocell Therapeutics Corporation 2023 Equity Incentive Plan, we















granted: (a) options to purchase up to an aggregate of 1,275,000 shares of Common Stock to employees and directors and (b) 150,000















restricted stock units to employees. The RSUs were cancelled on June 23, 2023 and as they had not vested, no expense was recorded















on the Company&rsquo;s historical financial statements.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 9, 2023, pursuant to the Chromocell















Therapeutics Corporation 2023 Equity Incentive Plan, we granted to a director options to purchase up to an aggregate of 135,000















shares of Common Stock.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 23, 2023, pursuant to that

certain June Investor Note Side Letter, we issued 50,000 shares of Common Stock to the Holder of the Investor Note.</P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On June 23, 2023, pursuant to the Chromocell
Therapeutics Corporation 2023 Equity Incentive Plan, we granted to two employees options to purchase up to an aggregate of 468,000
shares of Common Stock, which include options that have not yet been granted but the Company has agreed to grant in connection
with the closing of the offering of IPO Shares. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 17, 2023, pursuant to that

certain August Investor Note Side Letter, we issued 30,000 shares of Common Stock to the Holder of the Investor Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Effective October 10, 2023, pursuant
to that certain October Investor Note Side Letter, we issued 30,000 shares of Common Stock to the Holder of the Investor Note.&nbsp; </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Effective November 13, 2023, pursuant to that certain November Investor Note Side Letter, we agreed to
issue 30,000 November Leak-Out Shares on each of November 29, 2023, December 29, 2023 and January 29, 2024, provided the Investor
Note remained outstanding as of such date.&nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> On December 1, 2023, we issued 22,732,336
shares of Common Stock in connection with our Rights Offering. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
December 23, 2023, in connection with the Benuvia License Agreement, we issued 3,458,033 shares of Common Stock to Benuvia pursuant
to the Benuvia Stock Issuance Agreement.</FONT> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> &nbsp; </P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="margin: 0pt 0; text-align: justify">The offers and sales of the above securities were deemed to be exempt from registration under the Securities















Act in reliance upon Section&nbsp;4(a)(2) of the Securities Act or Regulation D promulgated thereunder, or Rule 701 promulgated















under Section&nbsp;3(b) of the Securities Act, as transactions by an issuer not involving any public offering or pursuant to benefit















plans and contracts relating to compensation as provided under Rule 701. The recipients of the above securities represented their















intentions to acquire the securities for investment only and not with a view to or for sale in connection with any distribution















thereof.</P>































<P STYLE="margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item&nbsp;16.















Exhibits and Financial Statement Schedules.</font></p>































<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(a)















Exhibits.</i></b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We















have filed the exhibits listed on the accompanying Exhibit Index of this registration statement, which Exhibit Index is incorporated















herein by reference.</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>(b)















Financial Statement Schedules.</i></b></font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All















other schedules have been omitted because the information required to be presented in them is not applicable or is shown in the















financial statements or notes.</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item&nbsp;17.















Undertakings.</font></p>































<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















undersigned Registrant hereby undertakes to provide to the underwriters at the closing specified in the underwriting agreement















certificates in such denominations and registered in such names as required by the underwriters to permit prompt delivery to each















purchaser.</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insofar















as indemnification for liabilities arising under the Securities Act, may be permitted to directors, officers and controlling persons















of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the















Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore,















unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant















of expenses incurred or paid by a director, officer, or controlling person of the registrant in the successful defense of any















action, suit, or proceeding) is asserted by such director, officer, or controlling person in connection with the securities being















registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit















to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in















the Securities Act and will be governed by the final adjudication of such issue.</font></p>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The















undersigned Registrant hereby undertakes that:</font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif"></font></p>































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr style="vertical-align: top">















    <td style="width: 48px"> &nbsp; </td>















    <td style="width: 24px; font-size: 10pt"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1)</font> </td>















    <td style="text-align: justify; font-size: 10pt"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To















    file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</font> </td></tr>















</table>































<p style="margin-top: 0; margin-bottom: 0"> &nbsp; </p>















<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr style="vertical-align: top">















    <td style="width: 72px"> &nbsp; </td>















    <td style="width: 24px; font-size: 10pt"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</font> </td>















    <td style="text-align: justify; font-size: 10pt"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To















    include any prospectus required by section 10(a)(3) of the Securities Act;</font> </td></tr>















</table>















<p style="margin-top: 0; margin-bottom: 0"> &nbsp; </p>































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr style="vertical-align: top">















    <td style="width: 72px"> &nbsp; </td>















    <td style="width: 24px; font-size: 10pt"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</font> </td>















    <td style="text-align: justify; font-size: 10pt"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To















    reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most















    recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information















    set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in the volume of securities















    offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from















    the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC















    pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum















    aggregate offering price&nbsp;set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration















    statement; and</font> </td></tr>















</table>















<p style="margin-top: 0; margin-bottom: 0"> &nbsp; </p>































<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">















<tr style="vertical-align: top">















    <td style="width: 72px"> &nbsp; </td>















    <td style="width: 24px; font-size: 10pt"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</font> </td>















    <td style="text-align: justify; font-size: 10pt"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To















    include any material&nbsp;information with respect to the&nbsp;plan&nbsp;of&nbsp;distribution&nbsp;not previously disclosed















    in the registration statement or any&nbsp;material&nbsp;change to such information in the registration statement;</font> </td></tr>















</table>















































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font> </P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; padding-bottom: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; padding-bottom: 10pt"><FONT STYLE="font-size: 10pt">2)</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">For determining liability under the
    Securities Act, treat each post-effective amendment as a new registration statement of the securities offered, and the offering
    of the securities at that time to be the initial bona fide offering.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-size: 10pt">3)</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">File a post-effective amendment to
    remove from registration any of the securities that remain unsold at the end of the offering.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt"><FONT STYLE="font-size: 10pt">4) </FONT></TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify"><FONT STYLE="font-size: 10pt">For purposes of determining any liability
    under the Securities Act, the information omitted from the form of prospectus filed as part of this Registration Statement
    in reliance upon Rule 430A and contained in a form of prospectus filed by the Registrant pursuant to Rule&nbsp;424(b)(1) or
    (4)&nbsp;or 497(h) under the Securities Act shall be deemed to be part of this Registration Statement as of the time it was
    declared effective. </FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></p>






























































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>































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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; padding-bottom: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; padding-bottom: 10pt"><FONT STYLE="font-size: 10pt">5)</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">For the purpose of determining liability
    of the registrant under the Securities Act to any purchaser in the initial distribution of the securities: The undersigned
    registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration
    statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered
    or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to
    the purchaser and will be considered to offer or sell such securities to such purchaser:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">(i) Any preliminary prospectus or prospectus
    of the undersigned registrant relating to the offering required to be filed pursuant to the Rule 424;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">(ii) Any free writing prospectus relating
    to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">(iii) The portion of any other free
    writing prospectus relating to the offering containing material information about the undersigned registrant or its securities
    provided by or on behalf of the undersigned registrant; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">(iv) Any other communication that is
    an offer in the offering made by the undersigned registrant to the purchaser.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></p>































<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">















<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6)</FONT></td><td style="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
                                         the purpose of determining any liability under the Securities Act, each post-effective
                                         amendment that contains a form of prospectus shall be deemed to be a new registration
                                         statement relating to the securities offered therein, and the offering of such securities
                                         at that time shall be deemed to be the initial bona fide offering thereof.</FONT></td>















</tr></table>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</font></p>















































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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>















    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>















    <!-- Field: /Page -->































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><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: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>EXHIBIT















INDEX</b></font></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"> <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: 0pt 0; text-align: center; text-indent: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 10%; border-bottom: black 1pt solid"> <FONT STYLE="font-size: 10pt"><B>Exhibit</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>No.</B></FONT> </TD>
    <TD STYLE="width: 90%; border-bottom: black 1pt solid; padding-bottom: 1pt; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Description</B></FONT> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-size: 10pt">1.1***</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">Form
    of Underwriting Agreement</FONT> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000067/g083359_ex2-1.htm"><FONT STYLE="font-size: 10pt">2.1**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000067/g083359_ex2-1.htm"><FONT STYLE="font-size: 10pt">Contribution
    Agreement</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001178/g083667_ex2-2.htm"><FONT STYLE="font-size: 10pt">2.2**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001178/g083667_ex2-2.htm"><FONT STYLE="font-size: 10pt">Side
    Letter to Contribution Agreement</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000067/g083359_ex3-1.htm"><FONT STYLE="font-size: 10pt">3.1**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000067/g083359_ex3-1.htm"><FONT STYLE="font-size: 10pt">Certificate
    of Incorporation, as currently in effect</FONT></A> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000067/g083359_ex3-2.htm"><FONT STYLE="font-size: 10pt">3.2**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000067/g083359_ex3-2.htm"><FONT STYLE="font-size: 10pt">Certificate
    of Designation of Series A Convertible Preferred Stock, as currently in effect</FONT></A> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000067/g083359_ex3-3.htm"><FONT STYLE="font-size: 10pt">3.3**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000067/g083359_ex3-3.htm"><FONT STYLE="font-size: 10pt">Form
    of Amended and Restated Certificate of Incorporation to be effective upon the closing of the offering of shares of Common
    Stock</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex3-5.htm"><FONT STYLE="font-size: 10pt">3.4**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex3-5.htm"><FONT STYLE="font-size: 10pt">Form
    of Certificate of Designation of Series C Convertible Preferred Stock, to be effective upon the closing of the IPO.</FONT></A> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000067/g083359_ex3-4.htm"><FONT STYLE="font-size: 10pt">3.5**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000067/g083359_ex3-4.htm"><FONT STYLE="font-size: 10pt">Bylaws,
    as currently in effect</FONT></A> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000067/g083359_ex3-5.htm"><FONT STYLE="font-size: 10pt">3.6**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000067/g083359_ex3-5.htm"><FONT STYLE="font-size: 10pt">Form
    of Bylaws to be effective upon the closing of the IPO</FONT></A> </TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0">&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: 10%"> <FONT STYLE="font-size: 10pt">4.1***
    </FONT> </TD>
    <TD STYLE="width: 90%"> <FONT STYLE="font-size: 10pt">Form
    of Representative&rsquo;s Warrant </FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000873/g083573_ex4-7.htm"><FONT STYLE="font-size: 10pt">4.2**&nbsp;</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000873/g083573_ex4-7.htm"><FONT STYLE="font-size: 10pt">Side
    Letter to Amended and Restated Investor Promissory Note issued by the Company</FONT></A> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 10%"> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001178/g083667_ex4-4.htm"><FONT STYLE="font-size: 10pt">4.3**</FONT></A> </TD>
    <TD STYLE="width: 90%"> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001178/g083667_ex4-4.htm"><FONT STYLE="font-size: 10pt">Third
    Amended and Restated Investor Promissory Note Issued by the Company</FONT></A> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001178/g083667_ex4-5.htm"><FONT STYLE="font-size: 10pt">4.4**&nbsp;</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001178/g083667_ex4-5.htm"><FONT STYLE="font-size: 10pt">Side
    Letter to Second Amended and Restated Investor Promissory Note Issued by the Company&nbsp;</FONT></A> </TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 10%"> &nbsp; </TD>
    <TD STYLE="width: 90%"> &nbsp; </TD></TR>
<TR>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000067/g083359_ex4-7.htm"><FONT STYLE="font-size: 10pt">4.5**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000067/g083359_ex4-7.htm"><FONT STYLE="font-size: 10pt">Director
    Promissory Note Issued by the Company</FONT></A> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000939/g083645_ex10-4.htm"><FONT STYLE="font-size: 10pt">4.6**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000939/g083645_ex10-4.htm"><FONT STYLE="font-size: 10pt">Form
    of Senior Secured Convertible Promissory Note (April Bridge Financing; included in Exhibit 10.4)</FONT></A> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex10-6.htm"><FONT STYLE="font-size: 10pt">4.7**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex10-6.htm"><FONT STYLE="font-size: 10pt">Form
    of Senior Secured Convertible Promissory Note (September Bridge Financing; included in Exhibit 10.6)</FONT></A> </TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 10%"> &nbsp; </TD>
    <TD STYLE="width: 90%"> &nbsp; </TD></TR>
<TR>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex4-8.htm"><FONT STYLE="font-size: 10pt">4.8**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex4-8.htm"><FONT STYLE="font-size: 10pt">Amendment
    No. 1 to Third Amended and Restated Investor Promissory Note Issued by the Company</FONT></A> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex4-9.htm"><FONT STYLE="font-size: 10pt">4.9**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex4-9.htm"><FONT STYLE="font-size: 10pt">Side
    Letter to Third Amended and Restated Investor Promissory Note Issued by the Company</FONT></A> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex4-10.htm"><FONT STYLE="font-size: 10pt">4.10**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex4-10.htm"><FONT STYLE="font-size: 10pt">Fourth
    Amended and Restated Investor Promissory Note Issued by the Company</FONT></A> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001385/g083819_ex4-11.htm"><FONT STYLE="font-size: 10pt">4.11**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001385/g083819_ex4-11.htm"><FONT STYLE="font-size: 10pt">First
    Amendment to Senior Secured Convertible Note (April Bridge Financing)</FONT></A> </TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 10%"> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex4-12.htm"><FONT STYLE="font-size: 10pt">4.12**</FONT></A> </TD>
    <TD STYLE="width: 90%"> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex4-12.htm"><FONT STYLE="font-size: 10pt">October
    Promissory Note Issued by the Company (AME Equities LLC)</FONT></A> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex4-13.htm"><FONT STYLE="font-size: 10pt">4.13**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex4-13.htm"><FONT STYLE="font-size: 10pt">October
    Promissory Note Issued by the Company (Balmoral Financial Group LLC)</FONT></A> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex4-14.htm"><FONT STYLE="font-size: 10pt">4.14**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex4-14.htm"><FONT STYLE="font-size: 10pt">October
    Promissory Note Issued by the Company (Camden Capital LLC)</FONT></A> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex4-15.htm"><FONT STYLE="font-size: 10pt">4.15**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex4-15.htm"><FONT STYLE="font-size: 10pt">October
    Promissory Note Issued by the Company (MDB Merchants Park LLC)</FONT></A> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001385/g083819_ex4-16.htm">4.16**</A></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001385/g083819_ex4-16.htm">Second Amendment to Senior Secured Convertible Note (April Bridge Financing)</A></FONT> </TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 10%"> &nbsp; </TD>
    <TD STYLE="width: 90%"> &nbsp; </TD></TR>
<TR>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001439/g083840_ex4-17.htm">4.17**</A></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001439/g083840_ex4-17.htm">Amended and Restated October Promissory Note Issued by the Company (AME Equities LLC)</A></FONT> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001439/g083840_ex4-18.htm">4.18**</A></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001439/g083840_ex4-18.htm">Amended and Restated October Promissory Note Issued by the Company (Balmoral Financial Group LLC)</A></FONT> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001439/g083840_ex4-19.htm">4.19**</A></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001439/g083840_ex4-19.htm">Amended and Restated October Promissory Note Issued by the Company (Camden Capital LLC)</A></FONT> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001439/g083840_ex4-20.htm">4.20**</A></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001439/g083840_ex4-20.htm">Amended and Restated October Promissory Note Issued by the Company (MDB Merchants Park LLC)</A></FONT> </TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0"> &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: 10%"> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex4-21.htm">4.21*</A></FONT> </TD>
    <TD STYLE="width: 90%"> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex4-21.htm">Third Amendment to Senior Secured Convertible Note (April Bridge Financing)&nbsp;</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex4-22.htm">4.22*&nbsp;</A></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex4-22.htm">Side Letter to Fourth Amended and Restated Investor Promissory Note Issued by the Company</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex4-23.htm">4.23*</A></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex4-23.htm">Fifth Amended and Restated Investor Promissory Note Issued by the Company</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex4-24.htm">4.24*</A></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex4-24.htm">Second Amended and Restated October Promissory Note Issued by the Company (AME Equities LLC)</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex4-25.htm">4.25*</A></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex4-25.htm">Second Amended and Restated October Promissory Note Issued by the Company (Balmoral Financial Group LLC)</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex4-26.htm">4.26*</A></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex4-26.htm">Second Amended and Restated October Promissory Note Issued by the Company (Camden Capital LLC)</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex4-27.htm">4.27*</A></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex4-27.htm">Second Amended and Restated October Promissory Note Issued by the Company (MDB Merchants Park LLC</A>)</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex4-28.htm">4.28*</A></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex4-28.htm">Stock Issuance Agreement (Benuvia License Agreement)</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="margin: 0pt 0"><A HREF="g083881_ex4-29.htm"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.29*&nbsp;</FONT> </A></P>


</TD>
    <TD><P STYLE="margin: 0pt 0"><A HREF="g083881_ex4-29.htm"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendment No. 1 to Director Promissory Note Issued by the Company&nbsp;</FONT> </A></P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-size: 10pt">5.1*</FONT><FONT STYLE="font-size: 10pt">**</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">Opinion
    of Sullivan &amp; Worcester LLP</FONT> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000067/g083359_ex10-1.htm"> <FONT STYLE="font-size: 10pt">10.1**<SUP>+</SUP></FONT> </A></TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000067/g083359_ex10-1.htm"><FONT STYLE="font-size: 10pt">Chromocell
    Therapeutics Corporation 2023 Equity Incentive Plan</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001178/g083667_ex10-2.htm"> <FONT STYLE="font-size: 10pt">10.2**<SUP>+</SUP></FONT> </A></TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001178/g083667_ex10-2.htm"><FONT STYLE="font-size: 10pt">Amended
    and Restated Employment Agreement (Christian Kopfli)</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000873/g083573_ex10-3.htm"> <FONT STYLE="font-size: 10pt">10.3**<SUP>+</SUP></FONT> </A></TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000873/g083573_ex10-3.htm"><FONT STYLE="font-size: 10pt">Amended
    and Restated Consultant Agreement (Camden Capital LLC)</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000939/g083645_ex10-4.htm"><FONT STYLE="font-size: 10pt">10.4**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000939/g083645_ex10-4.htm"><FONT STYLE="font-size: 10pt">Securities
    Purchase Agreement (April Bridge Financing)</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000939/g083645_ex10-5.htm"><FONT STYLE="font-size: 10pt">10.5**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000939/g083645_ex10-5.htm"><FONT STYLE="font-size: 10pt">Security
    Agreement (April Bridge Financing)</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex10-6.htm"><FONT STYLE="font-size: 10pt">10.6**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex10-6.htm"><FONT STYLE="font-size: 10pt">Securities
    Purchase Agreement (September Bridge Financing)</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001178/g083667_ex10-7.htm"><FONT STYLE="font-size: 10pt">10.7**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001178/g083667_ex10-7.htm"><FONT STYLE="font-size: 10pt">Security
    Agreement (September Bridge Financing)</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001178/g083667_ex10-8.htm"><FONT STYLE="font-size: 10pt">10.8**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001178/g083667_ex10-8.htm"><FONT STYLE="font-size: 10pt">Subordination
    and Intercreditor Agreement (September Bridge Financing)</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex10-9.htm"><FONT STYLE="font-size: 10pt">10.9**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex10-9.htm"><FONT STYLE="font-size: 10pt">Securities
    Purchase Agreement (Series B Preferred Stock)</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex10-10.htm"><FONT STYLE="font-size: 10pt">10.10**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001338/g083766_ex10-10.htm"><FONT STYLE="font-size: 10pt">Registration
    Rights Agreement (Series B Preferred Stock)</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000873/g083573_ex10-7.htm"> <FONT STYLE="font-size: 10pt">10.11**<SUP>+</SUP></FONT> </A></TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000873/g083573_ex10-7.htm"><FONT STYLE="font-size: 10pt">Employment
    Agreement (Eric Lang)</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001178/g083667_ex10-12.htm"> <FONT STYLE="font-size: 10pt">10.12**<SUP>+</SUP></FONT> </A></TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623001178/g083667_ex10-12.htm"><FONT STYLE="font-size: 10pt">Form
    of Amendment to Chromocell Therapeutics Corporation 2023 Equity Incentive Plan</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex10-13.htm">10.13*</A></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex10-13.htm">Side Letter re Securities Purchase Agreement (Standby Shares)</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="g083881_ex10-14.htm"> <FONT STYLE="font-size: 10pt">10.14*<SUP>++</SUP></FONT> </A></TD>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex10-14.htm">Benuvia License Agreement</A></FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="g083881_ex23-1.htm"> <FONT STYLE="font-size: 10pt">23.1*</FONT> </A></TD>
    <TD><A HREF="g083881_ex23-1.htm"> <FONT STYLE="font-size: 10pt">Consent of Marcum LLP, independent registered public accounting firm</FONT> </A></TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-size: 10pt">23.2***</FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">Consent
    of Sullivan &amp; Worcester LLP (included in Exhibit 5.1)</FONT> </TD></TR>
<TR>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000939/g083645_s1a.htm"><FONT STYLE="font-size: 10pt">24.1**</FONT></A> </TD>
    <TD> <A HREF="http://www.sec.gov/Archives/edgar/data/1919246/000175392623000939/g083645_s1a.htm"><FONT STYLE="font-size: 10pt">Power
    of Attorney (included on signature page to previously filed registration statement)</FONT></A> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex107.htm">107*</A></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt"><A HREF="g083881_ex107.htm">Filing Fee Table</A></FONT> </TD></TR>
</TABLE>


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    <TD><font style="font: 10pt Times New Roman, Times, Serif">Filed herewith.</font></td></tr>















<tr style="vertical-align: top">















<TD> ** </td>















    <TD> Previously filed. </td></tr>















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<TR STYLE="vertical-align: top">

    <TD STYLE="width: 3%; font-size: 10pt"><FONT STYLE="font-size: 10pt">***</FONT></TD>

    <TD STYLE="width: 97%; font-size: 10pt"><FONT STYLE="font-size: 10pt">To be filed by amendment.</FONT></TD></TR>

</TABLE>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> + Management contract or compensatory plan or arrangement. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> ++ Certain information contained in this Exhibit has been
excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both not material and is the type of information that
the Company treats as private or confidential.&nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b>&nbsp;</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SIGNATURES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> Pursuant to the requirements of the
Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the city of North Brunswick, State of New Jersey, on January 16, 2024. </P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">















<TR STYLE="vertical-align: top">















    <TD>&nbsp;</TD>















    <TD>&nbsp;</TD>















    <TD>&nbsp;</TD>















    <TD>&nbsp;</TD></TR>















<TR STYLE="vertical-align: top">















    <TD>&nbsp;</TD>















    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>CHROMOCELL THERAPEUTICS CORPORATION</B></FONT></TD></TR>















<TR STYLE="vertical-align: top">















    <TD>&nbsp;</TD>















    <TD>&nbsp;</TD>















    <TD COLSPAN="2">&nbsp;</TD></TR>















<TR STYLE="vertical-align: top">















    <TD>&nbsp;</TD>















    <TD><FONT STYLE="font-size: 10pt">By: </FONT></TD>















    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Francis Knuettel II</FONT></TD></TR>















<TR STYLE="vertical-align: top">















    <TD STYLE="width: 52%">&nbsp;</TD>















    <TD STYLE="width: 2%">&nbsp;</TD>















    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>















    <TD STYLE="width: 41%"><FONT STYLE="font-size: 10pt">Francis Knuettel II </FONT></TD></TR>















<TR STYLE="vertical-align: top">















    <TD>&nbsp;</TD>















    <TD>&nbsp;</TD>















    <TD><FONT STYLE="font-size: 10pt">Title: </FONT></TD>















    <TD><FONT STYLE="font-size: 10pt">Interim Chief Executive Officer and Chief Financial Officer, Treasurer and Secretary</FONT></TD></TR>















</TABLE>















































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>































































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>































































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant

to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in

the capacities and on the dates indicated below:</FONT></p>































<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><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: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></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: 35%; text-align: center; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 0.5pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Signature&nbsp;&nbsp;</B></FONT> </P></TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 43%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title&nbsp;&nbsp;</B></FONT> </P></TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 20%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date&nbsp;&nbsp;</B></FONT> </P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Francis Knuettel II</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD ROWSPAN="2"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interim Chief Executive Officer
    and Chief Financial Officer, Treasurer and Secretary (Principal Executive Officer, Principal Financial Officer and Principal
    Accounting Officer)</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Francis
    Knuettel II</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 16, 2024</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ezra
    Friedberg</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 16, 2024</FONT>

</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Todd
    Davis</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 16, 2024</FONT>

</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Richard
    Malamut</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 16, 2024</FONT>

</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chia-Lin
    Simmons</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 16, 2024</FONT>

</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; vertical-align: bottom"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT> </TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></p>































































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    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt">*By: </FONT></TD>















    <TD STYLE="width: 30%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 1pt solid">/s/ Francis Knuettel II</P></TD>















    <TD STYLE="width: 65%; font-size: 10pt">&nbsp;</TD></TR>















<TR STYLE="vertical-align: top">















    <TD STYLE="font-size: 10pt">&nbsp;</TD>















    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Francis Knuettel II</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attorney-in-Fact</P></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>

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<DOCUMENT>
<TYPE>EX-4.21
<SEQUENCE>2
<FILENAME>g083881_ex4-21.htm
<DESCRIPTION>EXHIBIT 4.21
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 4.21</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THIRD AMENDMENT TO<BR>
SENIOR SECURED CONVERTIBLE NOTE</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Third Amendment to Senior
Secured Convertible Note (this &ldquo;<U>Amendment</U>&rdquo;) dated as of November 13, 2023 (the &ldquo;<U>Effective Date</U>&rdquo;)
is entered into by and between Chromocell Therapeutics Corporation, a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), and the
purchasers identified on the signature pages hereto (each, a &ldquo;<U>Purchaser</U>&rdquo; and together, the &ldquo;<U>Purchasers</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-decoration: none">RECITALS
</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-weight: normal">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Purchasers and the Company entered into that certain Securities Purchase Agreement dated as of April 17, 2023 (the &ldquo;<U>Original
Agreement</U>&rdquo;), pursuant to which the Company agreed to sell and issue to each Purchaser, a senior secured convertible note, as
amended on October 8, 2023 and October 24, 2023 (the &ldquo;<U>Original Note</U>&rdquo;), convertible into shares of the Company&rsquo;s
common stock, par value $0.01 per share (the &ldquo;<U>Common Stock</U>&rdquo;), in an aggregate principal amount of up to $540,000. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal; text-decoration: none">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the Original Agreement, the Company issued to the Purchasers the Original Notes in an aggregate principal amount of $393,807.99, on
April 17, 2023.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Purchaser and the Company desire to amend the Original Note pursuant to and in accordance with the terms set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitalized
terms not otherwise defined herein shall have the meanings set forth in the Original Note and Original Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-decoration: none">AGREEMENT</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW THEREFORE, in consideration
of the foregoing, and the covenants and agreements herein contained, and for other good and valuable consideration, the mutual receipt
and legal sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Title</U>. The title of the Original Notes is hereby deleted in its entirety and replaced by the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&ldquo;<B>SENIOR SECURED CONVERTIBLE
PROMISSORY NOTE DUE FEBRUARY 29, 2024</B>&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Preamble</U>. The preamble of the Original Notes of the Original Agreement is hereby amended as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The first paragraph of the Original Notes is hereby deleted in its entirety and replaced by the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&ldquo;THIS SENIOR SECURED CONVERTIBLE
PROMISSORY NOTE is a duly authorized and validly issued Senior Secured Convertible Promissory Note of CHROMOCELL THERAPEUTICS CORPORATION,
a Delaware corporation (the &ldquo;Company&rdquo;), designated as its Senior Secured Convertible Promissory Note due on or after February
29, 2024 (this &ldquo;Note&rdquo;). This Note is one of a series of convertible notes issued pursuant to the terms of the Purchase Agreement.
Capitalized terms used and not otherwise defined herein shall have the meanings set forth for such terms in the Purchase Agreement.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The definition of the Maturity Date in second paragraph of the preamble is hereby replaced by the
following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&ldquo;on or after February 29, 2024
(the &ldquo;<U>Maturity Date</U>&rdquo;)&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Miscellaneous</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Waivers and Amendments</U>. Any provision of this Amendment may be amended, waived or modified only upon the written consent
of the Company and the Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Entire Agreement</U>. This Amendment together with the Original Note constitutes the entire agreement of the Company and the
Purchaser with respect to the subject matter hereof and supersedes all prior agreements and undertakings, both written and oral, between
the Company and Purchaser with respect to the subject matter hereof. Except as amended by this Amendment, the Original Note shall continue
in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Counterparts.</U> This Amendment may be executed in one or more counterparts, each of which will be deemed an original, but
all of which together will constitute one and the same agreement. Facsimile copies of signed signature pages will be deemed binding originals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt">[<I>Remainder of page intentionally left blank; signature page follows.</I>]</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
have caused this Amendment to be duly executed and delivered by their proper and duly authorized officers as of the date and year first
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>COMPANY</U>:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">CHROMOCELL THERAPEUTICS CORPORATION,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">a Delaware corporation </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: <U>/s/ Francis Knuettel II&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Francis Knuettel II</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: Interim CEO and Chief Financial Officer</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">Signature Page to Third Amendment to Original Note</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>


<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers as of the date and year first
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>PURCHASER</U>: AME Equities LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: <U>/s/ Ruth
    Friedman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Ruth Friedman</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: Manager</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">Signature Page to Third Amendment to Original Note</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers as of the date and year first
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>PURCHASER</U>: Aperture Healthcare Ventures Ltd.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: <U>/s/ Avi Wachtsman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Avi Wachtsman&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: </FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">Signature Page to Third Amendment to Original Note</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers as of the date and year first
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>PURCHASER</U>: Balmoral Financial Group LLC
</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: <U>/s/ Ezra Friedberg&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Ezra Friedberg</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: General Partner</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">Signature Page to Third Amendment to Original Note</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers as of the date and year first
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>PURCHASER</U>: Boswell Prayer Ltd.
</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: <U>/s/ Rochelle Gross&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Rochelle Gross</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: Director</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">Signature Page to Third Amendment to Original Note</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers as of the date and year first
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>PURCHASER</U>: David Danovitch
</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: <U>/s/ David Danovitch&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: David Danovitch</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: </FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">Signature Page to Third Amendment to Original Note</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 7; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers as of the date and year first
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>PURCHASER</U>: DB Investor Group LLC
</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: <U>/s/ David Bocchi&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: David Bocchi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: Trustee</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">Signature Page to Third Amendment to Original Note</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers as of the date and year first
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>PURCHASER</U>: MDB Merchants Park LLC
</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: <U>/s/ Michael Bodner&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Michael Bodner</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: Manager</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">Signature Page to Third Amendment to Original Note</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 9; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers as of the date and year first
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>PURCHASER</U>: Motif
Pharmaceutical Ltd</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: <U>/s/ Zachary Klein&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Zachary Klein</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: Director</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">Signature Page to Third Amendment to Original Note</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 10; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers as of the date and year first
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>PURCHASER</U>: Nobi Investments Limited</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: <U>/s/ Ariel Belilo&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Ariel Belilo</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: Director</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">Signature Page to Third Amendment to Original Note</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 11; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers as of the date and year first
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>PURCHASER</U>: John Riley</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: <U>/s/ John Riley&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: John Riley</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: </FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">Signature Page to Third Amendment to Original Note</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 12; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers as of the date and year first
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>PURCHASER</U>:Sargeant Capital</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: <U>/s/ Dan
    Nir&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Dan Nir</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: Managing Partner</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">Signature Page to Third Amendment to Original Note</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 13; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
have caused this Agreement to be duly executed and delivered by their proper and duly authorized officers as of the date and year first
written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>PURCHASER</U>:Hamilcar Portfolio</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: <U>/s/ Eli Hassett&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Eli Hassett</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: Director</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">Signature Page to Third Amendment to Original Note</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence -->&nbsp;</P></DIV>

    <!-- Field: /Page -->

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>













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</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.22
<SEQUENCE>3
<FILENAME>g083881_ex4-22.htm
<DESCRIPTION>EXHIBIT 4.22
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit
4.22</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHROMOCELL
THERAPEUTICS CORPORATION</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">December
7, 2023</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3i,
LP</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">140
Broadway FL 38</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
York, NY 10005</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Re:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fourth
Amended and Restated Promissory Note</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dear
Sir:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reference
is made to that certain Fourth Amended and Restated Promissory Note, effective as of October 10, 2023 ( the &ldquo;<U>Note</U>&rdquo;)
between Chromocell Therapeutics Corporation, a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), and 3i, LP and its successors
or assigns (the &ldquo;<U>Lender</U>&rdquo;), attached hereto as <U>Exhibit A</U>. Capitalized terms used but not defined herein
shall have the meanings given to them in the Note in each case as of the date hereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
letter agreement (this &ldquo;<U>Letter Agreement</U>&rdquo;) confirms our recent discussions about, among other matters, certain
modifications to the Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Parties agree to amend and restate the Note, substantially in the form attached hereto as <U>Exhibit B</U>, effective November
13, 2023.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;In consideration thereof, the Company agrees to issue 30,000 shares (the &ldquo;<U>Leak-Out Shares</U>&rdquo;) of
common stock, par value $0.0001 per share, of the Company (the &ldquo;<U>Common Stock</U>&rdquo;) on November 29, 2023,
30,000 shares on December 29, 2023 and 30,000 shares on January 29, 2024 (the &ldquo;<U>Leak-Out Shares</U>&rdquo;), provided
that the Note remains outstanding on the issuance date. Lender hereby agrees that, Lender will not sell, dispose or otherwise
transfer, directly or indirectly, any Leak-Out Shares until the date shares of Common Stock are listed on the Company&rsquo;s
principal Trading Market (as defined below) (the &ldquo;<U>Listing Date</U>&rdquo;). Further, Lender hereby agrees that, for
a period commencing on the Listing Date (inclusive), and expiring on the date that Lender does not beneficially own any
Leak-Out Shares (the &ldquo;<U>Leak-Out Period</U>&rdquo;), Lender will not sell, dispose or otherwise transfer, directly or
indirectly, on any Trading Day (as defined below) during the Leak-Out Period (any such date, a &ldquo;<U>Date of
Determination</U>&rdquo;), any Leak-Out Shares in an amount representing more than 7.5% of the trading volume of the Common
Stock as reported by Bloomberg, LP on each applicable Date of Determination. The Company may waive the limitations set forth
in this Section 2 at any time in its sole discretion. Notwithstanding anything herein to the contrary, during the Leak-Out
Period, Lender may, directly or indirectly, sell or transfer Leak-Out Shares to any Affiliate (as defined under the
Securities Exchange Act of 1934, as amended); provided, that as a condition to any such sale or transfer an authorized
signatory of the Company and such Affiliate duly execute and deliver a leak-out agreement no less restrictive to the
Affiliate than this Section 2 (an &ldquo;<U>Affiliate Agreement</U>&rdquo;, and each such transfer a &ldquo;<U>Permitted
Transfer</U>&rdquo;) and, subsequent to a Permitted Transfer, sales by Lender and all Affiliates (other than any such sales
that constitute Permitted Transfers) shall be aggregated for all purposes of this Section 2 and all Affiliate Agreements. The
provisions of this Section 2 (the &ldquo;<U>Leak-Out Restrictions</U>&rdquo;) are intended for the benefit of the parties
hereto and their respective successors and permitted assigns and is not intended for the benefit of, nor may any provision
hereof be enforced by, any other person or entity. &ldquo;<U>Trading Day</U>&rdquo; means a day on which the principal
Trading Market is open for trading. &ldquo;<U>Trading Market</U>&rdquo; means any of the following markets or exchanges on
which the Common Stock is listed or quoted for trading on the date in question: the NYSE American, the Nasdaq Capital Market,
the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock Exchange (or any successors to any of the
foregoing).</FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with any IPO of the Company that includes the offering of warrants (the
&ldquo;Warrants&rdquo;), either alone or as part of a unit with shares of Common Stock of the Company, the Company agrees to issue
(a) one such Warrant for each Leak-Out Share issued to Lender pursuant to this Letter Agreement and (b) one Warrant for each of
the 110,000 shares of Common Stock of the Company that Lender owns as of the date of this Letter Agreement. Each Warrant shall
entitle the Lender to purchase one (1) share of Common Stock of the Company (the &ldquo;Warrant Shares&rdquo;) upon the exercise
thereof. The Warrants and the Warrant Shares issued to Lender pursuant to this Letter Agreement shall have the same rights and
conditions as the Warrants and the Warrant Shares issued in the IPO.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company further agrees that it shall prepare and file a prospectus to be included in the Company&rsquo;s Registration Statement
on Form S-1 (the &ldquo;<U>IPO Registration Statement</U>&rdquo;), in connection with any IPO of the Company covering the resale
by the Lender of all Leak-Out Shares and Warrant Shares. In addition, the Company shall use its commercially reasonable efforts
to keep effective the IPO Registration Statement until such time as: (i) all of the Leak-Out Shares and Warrant Shares have been
disposed of pursuant to such effective IPO Registration Statement, or (ii) all of the Leak-Out Shares and Warrant Shares may be
resold by Lender without restriction (including, without limitation, volume limitations or manner-of-sale restrictions) pursuant
to Rule 144 (taking account of any Commission position with respect to &ldquo;affiliate&rdquo; status) and without the need for
current public information required by Rule 144(c)(1) (or Rule 144(i)(2), if applicable).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Letter Agreement is limited as written. As of the date first written above, each reference in the Note to &ldquo;this Note,&rdquo;
&ldquo;hereunder,&rdquo; &ldquo;hereof,&rdquo; &ldquo;herein,&rdquo; or words of like import, shall refer to the Note as modified
thereby, and this Letter Agreement and the Note shall be read together and construed as a single agreement. The execution, delivery
and effectiveness of this Letter Agreement shall not, except as expressly provided herein, (A) waive or modify any right, power
or remedy under, or any other provision of the Note or (B) commit or otherwise obligate any party to enter into or consider entering
into any other amendment, waiver or modification of the Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
communications and notices hereunder shall be given as provided in the Note. This Letter Agreement (a) shall be governed by and
construed in accordance with the law of the State of New York, (b) is for the exclusive benefit of the parties hereto, and together
with the Note, constitutes the entire agreement of such parties, superseding all prior agreements among them, with respect to
the subject matter hereof, (c) may be modified, waived or assigned only in writing and only to the extent such modification, waiver
or assignment would be permitted under the Note (and any attempt to assign this Letter Agreement without such writing shall be
null and void), (d) is a negotiated document, entered into freely among the parties upon advice of their own counsel, and it should
not be construed against any of its drafters and (e) shall survive the satisfaction or discharge of the amounts owing under the
Note. The fact that any term or provision of this Letter Agreement is held invalid, illegal or unenforceable as to any person
in any situation in any jurisdiction shall not affect the validity, enforceability or legality of the remaining terms or provisions
hereof or the validity, enforceability or legality of such offending term or provision in any other situation or jurisdiction
or as applied to any person.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kindly
confirm your agreement with the above by signing in the space indicated below and by PDFing a partially executed copy of this
letter to the undersigned, and which may be executed in identical counterparts, each of which shall be deemed an original but
all of which shall constitute one and the same agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 45%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very
    truly yours,</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CHROMOCELL
    THERAPEUTICS CORPORATION</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Francis Knuettel II</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AGREED AND ACCEPTED:</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Francis
    Knuettel II</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Interim
    CEO &amp; Chief Financial Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 92%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>3i, LP</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Maier J. Tarlow </FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:
    Maier J. Tarlow</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:
    Manager On Behalf Of The GP</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Exhibit
A</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fourth
Amended and Restated Promissory Note</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(see
attached)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Exhibit
B</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fifth
Amended and Restated Promissory Note</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(see
attached)</FONT></P>

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<DESCRIPTION>EXHIBIT 4.23
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit
4.23</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHROMOCELL
THERAPEUTICS CORPORATION</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">Fifth
Amended and Restated Promissory Note</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Face Amount:
$450,000.00</FONT></TD><TD STYLE="text-align: right; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
                       7, 2023</FONT></TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase Price: $300,000.00</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">New York, NY</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FOR
VALUE RECEIVED, the undersigned Chromocell Therapeutics Corporation, a Delaware corporation (the &ldquo;<U>Borrower</U>&rdquo;),
promises to pay to the order of 3i, LP, its successors or assigns (the &ldquo;<U>Lender</U>&rdquo;), FOUR HUNDRED FIFTY THOUSAND
DOLLARS ($450,000) (the &ldquo;<U>Face Amount</U>&rdquo;) by January 31, 2024 (the &ldquo;<U>Maturity Date</U>&rdquo;) as provided
herein or on such earlier date as this Fifth Amended and Restated Promissory Note (this &ldquo;<U>Note</U>&rdquo;) is required
or permitted to be repaid as provided hereunder, together with all accrued but unpaid interest thereon. Effective November 13,
2023, this Note amends and restates in its entirety that certain Promissory Note, dated February 4, 2022, as amended and restated
by that certain Amended and Restated Promissory Note dated February 27, 2023, as further amended and restated by that certain
Second Amended and Restated Promissory Note dated June 23, 2023, as further amended and restated by that certain Third Amended
and Restated Promissory Note dated August 13, 2023, as further amended by that certain Amendment No. 1 to Third Amended and Restated
Promissory Note, dated September 24, 2023, and as further amended and restated by that certain Fourth Amended and Restated Promissory
Note dated October 12, 2023 (collectively, the &ldquo;<U>Amended Note</U>&rdquo;), in the principal sum of the Face Amount, previously
issued by the Borrower to the Lender, and is intended to constitute an amendment and modification to, and otherwise to constitute
a continuation of, the Amended Note, and is not intended and shall not be construed to constitute a novation thereof or of any
obligation of any party thereunder. Borrower and Lender agree that no Event of Default existed under the Amended Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;<U>Maturity; Interest</U>. The Face Amount,
all accrued and unpaid interest, and all other amounts payable under this Note shall be due and payable in cash at the Maturity
Date; provided, that this Note may be prepaid in whole or in part at any time and from time-to-time upon three (3) prior business
days&rsquo; written notice, without penalty. Except as otherwise provided herein, this Note shall accrue interest equal to two
percent (2%) of the Face Amount per month ($9,000) per month), beginning February 3, 2023 to the date the Note is satisfied in
full, whether by prepayment, by repayment or otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;<U>Repayment</U>. Repayment of the Note shall
occur as follows: (i) on the Maturity Date, Borrower shall repay Lender, in cash, one hundred percent (100%) of the Face Amount
and interest due on this Note outstanding as of the date of repayment; or (b) if earlier to occur, on the closing of an underwritten
public offering of securities of the Borrower (an &ldquo;<U>IPO</U>&rdquo;), Lender shall be required to present this Note in
full (including all accrued interest thereon) to purchase securities in the IPO as legal tender therefor on a dollar-for-dollar
basis based on the offering price of such securities to the public as set forth in the applicable registration statement. So long
as no Event of Default has occurred, such repayment shall satisfy Borrower&rsquo;s obligations pursuant to this Note in full,
and this Note shall be of no further force and effect.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Transferability</U>. This Note and any
of the rights granted hereunder are freely transferable or assigned by Lender, in whole or in part, in its sole discretion; provided,
there is notice to the Borrower.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; <U>Event of Default</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the event that any one of the following events shall occur (whatever the reason and whether it shall be voluntary or
involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order, rule or
regulation of any administrative or governmental body), it shall be deemed an Event of Default:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any default in the payment of the principal of, interest on or other charges in respect of this Note, or any other note issued
by the Borrower for the benefit of the Lender or any other creditor, as and when the same shall become due and payable;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrower
shall fail to observe or perform any other material covenant, agreement or warranty contained in, or otherwise commit any breach
or default of any provision of this Note or any other agreement between the Borrower and the Lender or any other creditor;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
shall be a breach of any of the representations and warranties set forth in this Note or any transaction document executed contemporaneously
herewith; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrower,
shall commence, or there shall be commenced against Borrower any applicable bankruptcy or insolvency laws as now or hereafter
in effect or any successor thereto, or Borrower commences any other proceeding under any reorganization, arrangement, adjustment
of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter
in effect relating to Borrower or there is commenced against Borrower any such bankruptcy, insolvency or other proceeding which
remains undismissed for a period of sixty (60) days; or Borrower is adjudicated insolvent or bankrupt; or any order of relief
or other order approving any such case or proceeding is entered; or Borrower suffers any appointment of any custodian, private
or court appointed receiver or the like for it or any substantial part of its property which continues undischarged or unstayed
for a period of sixty (60) days; or Borrower makes a general assignment for the benefit of creditors; or Borrower shall fail to
pay or shall state that it is unable to pay or shall be liable to pay, its debts as they become due or by any act or failure to
act expressly indicate its consent to, approval of or acquiescence in any of the foregoing; or any corporate or other action is
taken by the Borrower for the purpose of effecting any of the foregoing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon the occurrence of an Event of Default, the Lender shall give the Borrower notice of such occurrence, at which time
the Borrower shall have five (5) business days from receipt of such notice to pay the outstanding amount of the Note in full.
In the event that full payment is not made upon the expiry of the five (5) day period, a default penalty equal to two percent
(2%) of the Face Amount per month during the period of Default (the &ldquo;<U>Default Penalty</U>&rdquo;). Lender may then,
at its sole discretion declare the entire then outstanding Face Amount of this Note and the Default Penalty immediately due
and payable (a &ldquo;<U>Default Declaration</U>&rdquo;), in which event the Lender may, at its sole discretion take any
action it deems necessary to recover amounts due under this Note.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;Upon the occurrence of an Event of Default, the Lender shall be entitled to recover, in addition to the Face
Amount of the Note and the Default Penalty, all of its costs, fees (including without limitation, reasonable attorney&rsquo;s
fees and disbursements), and expenses relating collection and enforcement Note, including all costs and expenses incurred by
it in enforcing its rights under the Note and any transaction document entered into contemporaneously herewith.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;The failure of Lender to exercise any of its rights hereunder in any particular instance shall not constitute a
waiver of the same or of any other right in that or any subsequent instance with respect to Lender or any subsequent holder. <B>BORROWER
ACKNOWLEDGES THAT THE LOAN EVIDENCED BY THIS NOTE IS A COMMERCIAL TRANSACTION. BORROWER FURTHER WAIVES DILIGENCE, DEMAND,
PRESENTMENT FOR PAYMENT, NOTICE OF NONPAYMENT, PROTEST AND NOTICE OF PROTEST, AND NOTICE OF ANY RENEWALS OR EXTENSIONS OF
THIS NOTE. BORROWER ACKNOWLEDGES THAT IT MAKES THIS WAIVER KNOWINGLY, VOLUNTARILY, WITHOUT DURESS AND ONLY AFTER
CONSIDERATION OF RAMIFICATION THIS WAIVER WITH ITS ATTORNEYS. </B>Lender may immediately and without expiration of any grace
period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law.
The remedies available to the Lender upon the occurrence of an Event of Default shall be cumulative.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<U>Notices</U>. Any and all notices,
service of process or other communications or deliveries required or permitted to be given or made pursuant to any of the
provisions of this Note shall be deemed to have been duly given or made for all purposes when hand delivered or sent by
certified or registered mail, return receipt requested and postage prepaid, overnight mail or courier as follows:If to
Lender, at:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3i,
LP</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: left; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">140
Broadway FL 38</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: left; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
York, NY 10005</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:
Maier Tarlow, Manager</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Or
such other address as may be given to the Borrower from time to time</I></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
to Borrower, at:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; 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-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chromocell
Therapeutics Corporation</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4400
Route 9 South, Suite 1000</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Freehold,
NJ 07728</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:
Francis Knuettel II, CFO</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Or
such other address as may be given to the Lender from time to time</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Usury</U>. This Note is hereby expressly
limited so that in no event whatsoever, whether by reason of acceleration of maturity of the loan evidenced hereby or otherwise,
shall the amount paid or agreed to be paid to the Lender hereunder for the loan, use, forbearance or detention of money exceed
that permissible under applicable law. If at any time the performance of any provision of this Note or of any other agreement
or instrument entered into in connection with this Note involves a payment exceeding the limit of the interest that may be validly
charged for the loan, use, forbearance or detention of money under applicable law, then automatically and retroactively, ipso
facto, the obligation to be performed shall be reduced to such limit, it being the specific intent of the Borrower and the Lender
that all payments under this Note are to be credited first to interest as permitted by law, but not in excess of <I>(i)</I> the
agreed rate of interest set forth herein or therein or <I>(ii)</I> that permitted by law, whichever is the lesser, and the balance
toward the reduction of principal. The provision of this Section 6 shall never be superseded or waived and shall control every
other provision of this Note and all other agreements and instruments between the Borrower and the Lender entered into in connection
with this Note. To the extent permitted by applicable law, Borrower waives any right to assert the defense of usury. &nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing Law; Waiver of Jury Trial</U>.
This Note and the provisions hereof are to be construed according to and are governed by the laws of the State of Delaware, without
regard to principles of conflicts of laws thereof. Borrower agrees that the New York State Supreme Court located in the County
of New York, State of New York shall have exclusive jurisdiction in connection with any dispute concerning or arising out of this
Note or otherwise relating to the parties&rsquo; relationship. In any action, lawsuit or proceeding brought to enforce or interpret
the provisions of this Note and/or arising out of or relating to any dispute between the parties, Lender shall be entitled to
recover all of its costs and expenses relating collection and enforcement of this Note (including without limitation, reasonable
attorney&rsquo;s fees and disbursements) in addition to any other relief to which Lender may be entitled and all costs of collection,
including any legal fees associated with this Note will be paid by the Borrower. Each party agrees that any process or notice
to be served or delivered in connection with any action, lawsuit or proceeding brought hereunder may be accomplished in accordance
with the notice provisions set forth above or as otherwise provided by applicable law. <B>BORROWER HEREBY WAIVES TRIAL BY JURY
IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM, WHETHER IN CONTRACT OR TORT, AT LAW OR IN EQUITY, ARISING OUT OF OR IN ANY WAY
RELATING TO THIS NOTE.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Successors and Assigns</U>. Subject to
applicable laws, this Note and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the
successors of Borrower and the successors and assigns of Lender.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment</U>. This Note may be modified
or amended or the provisions hereof waived only with the written consent of Lender and Borrower.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Severability</U>. Wherever possible, each provision of
this Note shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this
Note shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition
or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>[SIGNATURE
PAGE TO FOLLOW]</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IN
WITNESS WHEREOF, Borrower and Lender have caused this Note to be executed by a duly authorized officer as of the date first above
indicated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BORROWER</B>:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chromocell
        Therapeutics Corporation</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; font-size: 10pt; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: left; font-size: 10pt; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/
    Francis Knuettel II</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:
    Francis Knuettel II</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:
    Chief Financial Officer</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0; margin-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>LENDER</B>:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3i,
        LP</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; font-size: 10pt; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: left; font-size: 10pt; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/
    Maier J. Tarlow</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:
        Maier J. Tarlow</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:
        Manager On Behalf Of The GP</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left"></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>[Signature
Page to Fifth Amended and Restated Promissory Note]</I></FONT></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.24
<SEQUENCE>5
<FILENAME>g083881_ex4-24.htm
<DESCRIPTION>EXHIBIT 4.24
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin-top: 0; margin-bottom: 0; margin-left: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit
4.24</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CHROMOCELL
THERAPEUTICS CORPORATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second
Amended and Restated Promissory Note</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Face
    Amount: $12,000.00</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">November
    13, 2023</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    Price: $10,000.00</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    York, NY</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FOR
VALUE RECEIVED, the undersigned Chromocell Therapeutics Corporation, a Delaware corporation (the &ldquo;<U>Borrower</U>&rdquo;),
promises to pay to the order of AME Equities LLC, its successors or assigns (the &ldquo;<U>Lender</U>&rdquo;), twelve thousand
dollars ($12,000) (the &ldquo;<U>Face Amount</U>&rdquo;) by the Maturity Date as provided herein or on such earlier date as this
Note is required or permitted to be repaid as provided hereunder. Effective November 13, 2023, this Note amends and restates in
its entirety that certain Promissory Note, dated October 12, 2023, as amended and restated by that certain Amended and Restated
Promissory Note, dated November 7, 2023 (together, the &ldquo;<U>Prior Note</U>&rdquo;), in the principal sum of the Face Amount,
previously issued by the Borrower to the Lender, and is intended to constitute an amendment and modification to, and otherwise
to constitute a continuation of, the Prior Note, and is not intended and shall not be construed to constitute a novation thereof
or of any obligation of any party thereunder. Borrower and Lender agree that no Event of Default existed under the Prior Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
1. <U>Maturity; Interest</U>. The Face Amount shall be repaid in cash on the earlier to occur of: (i) February 29, 2024 and (ii)
seven calendar days following the closing of the Borrower&rsquo;s initial public offering pursuant to the Registration Statement
on Form S-1 (File No. 333-269188) (such date, the &ldquo;<U>Maturity Date</U>&rdquo;); provided, that this Note may be prepaid
in whole or in part at any time and from time-to-time upon three (3) prior business days&rsquo; written notice, without penalty.
This Note shall not bear interest except as contemplated in Section 4 below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
2. <U>Repayment</U>. On the Maturity Date (or earlier as provided in Section 1), Borrower shall repay, in cash, one hundred percent
(100%) of the Face Amount and interest due on this Note outstanding as of the date of repayment. So long as no Event of Default
has occurred, such repayment shall satisfy Borrower&rsquo;s obligations pursuant to this Note in full, and this Note shall be
of no further force and effect.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
3. <U>Transferability</U>. This Note and any of the rights granted hereunder are freely transferable or assigned by Lender, in
whole or in part, in its sole discretion; provided, there is notice to the Borrower.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
4. <U>Event of Default</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
In the event that any one of the following events shall occur (whatever the reason and whether it shall be voluntary or involuntary
or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order, rule or regulation of
any administrative or governmental body), it shall be deemed an Event of Default:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
Any default in the payment of the principal of, interest on or other charges in respect of this Note, as and when the same shall
become due and payable;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
Borrower shall fail to observe or perform any other material covenant, agreement or warranty contained in, or otherwise commit
any breach or default of any provision of this Note;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)
There shall be a breach of any of the representations and warranties set forth in this Note or any transaction document executed
contemporaneously herewith; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)
Borrower, shall commence, or there shall be commenced against Borrower any applicable bankruptcy or insolvency laws as now or
hereafter in effect or any successor thereto, or Borrower commences any other proceeding under any reorganization, arrangement,
adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or
hereafter in effect relating to Borrower or there is commenced against Borrower any such bankruptcy, insolvency or other proceeding
which remains undismissed for a period of sixty (60) days; or Borrower is adjudicated insolvent or bankrupt; or any order of relief
or other order approving any such case or proceeding is entered; or Borrower suffers any appointment of any custodian, private
or court appointed receiver or the like for it or any substantial part of its property which continues undischarged or unstayed
for a period of sixty (60) days; or Borrower makes a general assignment for the benefit of creditors; or Borrower shall fail to
pay or shall state that it is unable to pay or shall be liable to pay, its debts as they become due or by any act or failure to
act expressly indicate its consent to, approval of or acquiescence in any of the foregoing; or any corporate or other action is
taken by the Borrower for the purpose of effecting any of the foregoing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Upon the occurrence of an Event of Default, the Lender shall give the Borrower notice of such occurrence, at which time the Borrower
shall have five (5) business days from receipt of such notice to pay the outstanding amount of the Note in full. In the event
that full payment is not made upon the expiry of the five (5) day period, a default penalty equal to two percent (2%) of the Face
Amount per month during the period of Default (the &ldquo;<U>Default Penalty</U>&rdquo;). Lender may then, at its sole discretion
declare the entire then outstanding Face Amount of this Note and the Default Penalty immediately due and payable (a &ldquo;<U>Default
Declaration</U>&rdquo;), in which event the Lender may, at its sole discretion take any action it deems necessary to recover amounts
due under this Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
Upon the occurrence of an Event of Default, the Lender shall be entitled to receive, in addition to the Face Amount of the Note
and the Default Penalty, the Lender shall be entitled to recover all of its costs, fees (including without limitation, reasonable
attorney&rsquo;s fees and disbursements), and expenses relating collection and enforcement Note, including all costs and expenses
incurred by it in enforcing its rights under the Note and any transaction document entered into contemporaneously herewith.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
The failure of Lender to exercise any of its rights hereunder in any particular instance shall not constitute a waiver of the
same or of any other right in that or any subsequent instance with respect to Lender or any subsequent holder. <B>BORROWER ACKNOWLEDGES
THAT THE LOAN EVIDENCED BY THIS NOTE IS A COMMERCIAL TRANSACTION. BORROWER FURTHER WAIVES DILIGENCE, DEMAND, PRESENTMENT FOR PAYMENT,
NOTICE OF NONPAYMENT, PROTEST AND NOTICE OF PROTEST, AND NOTICE OF ANY RENEWALS OR EXTENSIONS OF THIS NOTE. BORROWER ACKNOWLEDGES
THAT IT MAKES THIS WAIVER KNOWINGLY, VOLUNTARILY, WITHOUT DURESS AND ONLY AFTER CONSIDERATION OF RAMIFICATION THIS WAIVER WITH
ITS ATTORNEYS. </B>Lender may immediately and without expiration of any grace period enforce any and all of its rights and remedies
hereunder and all other remedies available to it under applicable law. The remedies available to the Lender upon the occurrence
of an Event of Default shall be cumulative.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
5. <U>Notices</U>. Any and all notices, service of process or other communications or deliveries required or permitted to be given
or made pursuant to any of the provisions of this Note shall be deemed to have been duly given or made for all purposes when hand
delivered or sent by certified or registered mail, return receipt requested and postage prepaid, overnight mail or courier as
follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
to Lender, at:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AME
Equities LLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3102
Luke Crossing Dr.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Charlotte,
NC 28226</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Or
such other address as may be given to the Borrower from time to time</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
to Borrower, at:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; 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-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chromocell
Therapeutics Corporation</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4400
Route 9 South, Suite 1000</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Freehold,
New Jersey, 07728</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:
Francis Knuettel II, Interim CEO</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Or
such other address as may be given to the Lender from time to time</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
6. <U>Usury</U>. This Note is hereby expressly limited so that in no event whatsoever, whether by reason of acceleration of maturity
of the loan evidenced hereby or otherwise, shall the amount paid or agreed to be paid to the Lender hereunder for the loan, use,
forbearance or detention of money exceed that permissible under applicable law. If at any time the performance of any provision
of this Note or of any other agreement or instrument entered into in connection with this Note involves a payment exceeding the
limit of the interest that may be validly charged for the loan, use, forbearance or detention of money under applicable law, then
automatically and retroactively, ipso facto, the obligation to be performed shall be reduced to such limit, it being the specific
intent of the Borrower and the Lender that all payments under this Note are to be credited first to interest as permitted by law,
but not in excess of <I>(i)</I> the agreed rate of interest set forth herein or therein or <I>(ii)</I> that permitted by law,
whichever is the lesser, and the balance toward the reduction of principal. The provision of this Section 6 shall never be superseded
or waived and shall control every other provision of this Note and all other agreements and instruments between the Borrower and
the Lender entered into in connection with this Note. To the extent permitted by applicable law, Borrower waives any right to
assert the defense of usury.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
7. <U>Governing Law; Waiver of Jury Trial</U>. This Note and the provisions hereof are to be construed according to and are governed
by the laws of the State of Delaware, without regard to principles of conflicts of laws thereof. Borrower agrees that the New
York State Supreme Court located in the County of New York, State of New York shall have exclusive jurisdiction in connection
with any dispute concerning or arising out of this Note or otherwise relating to the parties relationship. In any action, lawsuit
or proceeding brought to enforce or interpret the provisions of this Note and/or arising out of or relating to any dispute between
the parties, Lender shall be entitled to recover all of its costs and expenses relating collection and enforcement of this Note
(including without limitation, reasonable attorney&rsquo;s fees and disbursements) in addition to any other relief to which Lender
may be entitled and all costs of collection, including any legal fees associated with this Note will be paid by the Borrower.
Each party agrees that any process or notice to be served or delivered in connection with any action, lawsuit or proceeding brought
hereunder may be accomplished in accordance with the notice provisions set forth above or as otherwise provided by applicable
law. <B>BORROWER HEREBY WAIVES TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM, WHETHER IN CONTRACT OR TORT, AT
LAW OR IN EQUITY, ARISING OUT OF OR IN ANY WAY RELATING TO THIS NOTE.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
8. <U>Successors and Assigns</U>. Subject to applicable laws, this Note and the rights and obligations evidenced hereby shall
inure to the benefit of and be binding upon the successors of Borrower and the successors and assigns of Lender.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
9. <U>Amendment</U>. This Note may be modified or amended or the provisions hereof waived only with the written consent of Lender
and Borrower.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
10. <U>Severability</U>. Wherever possible, each provision of this Note shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Note shall be prohibited by or invalid under applicable law, such
provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions
or the remaining provisions of this Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>SIGNATURE
PAGE TO FOLLOW</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IN
WITNESS WHEREOF, Borrower and Lender have caused this Promissory Note to be executed by a duly authorized officer as of the date
first above indicated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BORROWER</B>:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chromocell
        Therapeutics Corporation</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font-size: 10pt; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/
    Francis Knuettel II</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Francis Knuettel
    II</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Interim Chief
    Executive Officer</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>LENDER</B>:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AME
        Equities LLC</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font-size: 10pt; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/
    Ruth Friedman</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:
        Ruth Friedman</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Manager</FONT></TD></TR>
</TABLE>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.25
<SEQUENCE>6
<FILENAME>g083881_ex4-25.htm
<DESCRIPTION>EXHIBIT 4.25
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit
4.25</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CHROMOCELL
THERAPEUTICS CORPORATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second
Amended and Restated Promissory Note</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Face
    Amount: $24,000.00</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">November
    13, 2023</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    Price: $20,000.00</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    York, NY</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FOR
VALUE RECEIVED, the undersigned Chromocell Therapeutics Corporation, a Delaware corporation (the &ldquo;<U>Borrower</U>&rdquo;),
promises to pay to the order of Balmoral Financial Group LLC, its successors or assigns (the &ldquo;<U>Lender</U>&rdquo;), twenty-four
thousand dollars ($24,000) (the &ldquo;<U>Face Amount</U>&rdquo;) by the Maturity Date as provided herein or on such earlier date
as this Note is required or permitted to be repaid as provided hereunder. Effective November 13, 2023, this Note amends and restates
in its entirety that certain Promissory Note, dated October 12, 2023, as amended and restated by that certain Amended and Restated
Promissory Note, dated November 7, 2023 (together, the &ldquo;<U>Prior Note</U>&rdquo;), in the principal sum of the Face Amount,
previously issued by the Borrower to the Lender, and is intended to constitute an amendment and modification to, and otherwise
to constitute a continuation of, the Prior Note, and is not intended and shall not be construed to constitute a novation thereof
or of any obligation of any party thereunder. Borrower and Lender agree that no Event of Default existed under the Prior Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
1. <U>Maturity; Interest</U>. The Face Amount shall be repaid in cash on the earlier to occur of: (i) February 29, 2024 and (ii)
seven calendar days following the closing of the Borrower&rsquo;s initial public offering pursuant to the Registration Statement
on Form S-1 (File No. 333-269188) (such date, the &ldquo;<U>Maturity Date</U>&rdquo;); provided, that this Note may be prepaid
in whole or in part at any time and from time-to-time upon three (3) prior business days&rsquo; written notice, without penalty.
This Note shall not bear interest except as contemplated in Section 4 below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
2. <U>Repayment</U>. On the Maturity Date (or earlier as provided in Section 1), Borrower shall repay, in cash, one hundred percent
(100%) of the Face Amount and interest due on this Note outstanding as of the date of repayment. So long as no Event of Default
has occurred, such repayment shall satisfy Borrower&rsquo;s obligations pursuant to this Note in full, and this Note shall be
of no further force and effect.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
3. <U>Transferability</U>. This Note and any of the rights granted hereunder are freely transferable or assigned by Lender, in
whole or in part, in its sole discretion; provided, there is notice to the Borrower.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
4. <U>Event of Default</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
In the event that any one of the following events shall occur (whatever the reason and whether it shall be voluntary or involuntary
or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order, rule or regulation of
any administrative or governmental body), it shall be deemed an Event of Default:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
Any default in the payment of the principal of, interest on or other charges in respect of this Note, as and when the same shall
become due and payable;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
Borrower shall fail to observe or perform any other material covenant, agreement or warranty contained in, or otherwise commit
any breach or default of any provision of this Note;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)
There shall be a breach of any of the representations and warranties set forth in this Note or any transaction document executed
contemporaneously herewith; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)
Borrower, shall commence, or there shall be commenced against Borrower any applicable bankruptcy or insolvency laws as now or
hereafter in effect or any successor thereto, or Borrower commences any other proceeding under any reorganization, arrangement,
adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or
hereafter in effect relating to Borrower or there is commenced against Borrower any such bankruptcy, insolvency or other proceeding
which remains undismissed for a period of sixty (60) days; or Borrower is adjudicated insolvent or bankrupt; or any order of relief
or other order approving any such case or proceeding is entered; or Borrower suffers any appointment of any custodian, private
or court appointed receiver or the like for it or any substantial part of its property which continues undischarged or unstayed
for a period of sixty (60) days; or Borrower makes a general assignment for the benefit of creditors; or Borrower shall fail to
pay or shall state that it is unable to pay or shall be liable to pay, its debts as they become due or by any act or failure to
act expressly indicate its consent to, approval of or acquiescence in any of the foregoing; or any corporate or other action is
taken by the Borrower for the purpose of effecting any of the foregoing.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Upon the occurrence of an Event of Default, the Lender shall give the Borrower notice of such occurrence, at which time the Borrower
shall have five (5) business days from receipt of such notice to pay the outstanding amount of the Note in full. In the event
that full payment is not made upon the expiry of the five (5) day period, a default penalty equal to two percent (2%) of the Face
Amount per month during the period of Default (the &ldquo;<U>Default Penalty</U>&rdquo;). Lender may then, at its sole discretion
declare the entire then outstanding Face Amount of this Note and the Default Penalty immediately due and payable (a &ldquo;<U>Default
Declaration</U>&rdquo;), in which event the Lender may, at its sole discretion take any action it deems necessary to recover amounts
due under this Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
Upon the occurrence of an Event of Default, the Lender shall be entitled to receive, in addition to the Face Amount of the Note
and the Default Penalty, the Lender shall be entitled to recover all of its costs, fees (including without limitation, reasonable
attorney&rsquo;s fees and disbursements), and expenses relating collection and enforcement Note, including all costs and expenses
incurred by it in enforcing its rights under the Note and any transaction document entered into contemporaneously herewith.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
The failure of Lender to exercise any of its rights hereunder in any particular instance shall not constitute a waiver of the
same or of any other right in that or any subsequent instance with respect to Lender or any subsequent holder. <B>BORROWER ACKNOWLEDGES
THAT THE LOAN EVIDENCED BY THIS NOTE IS A COMMERCIAL TRANSACTION. BORROWER FURTHER WAIVES DILIGENCE, DEMAND, PRESENTMENT FOR PAYMENT,
NOTICE OF NONPAYMENT, PROTEST AND NOTICE OF PROTEST, AND NOTICE OF ANY RENEWALS OR EXTENSIONS OF THIS NOTE. BORROWER ACKNOWLEDGES
THAT IT MAKES THIS WAIVER KNOWINGLY, VOLUNTARILY, WITHOUT DURESS AND ONLY AFTER CONSIDERATION OF RAMIFICATION THIS WAIVER WITH
ITS ATTORNEYS. </B>Lender may immediately and without expiration of any grace period enforce any and all of its rights and remedies
hereunder and all other remedies available to it under applicable law. The remedies available to the Lender upon the occurrence
of an Event of Default shall be cumulative.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
5. <U>Notices</U>. Any and all notices, service of process or other communications or deliveries required or permitted to be given
or made pursuant to any of the provisions of this Note shall be deemed to have been duly given or made for all purposes when hand
delivered or sent by certified or registered mail, return receipt requested and postage prepaid, overnight mail or courier as
follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
to Lender, at:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balmoral
Financial Group LLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">106
Court Road, Suite 202</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Baltimore,
Maryland 21208</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Or
such other address as may be given to the Borrower from time to time</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
to Borrower, at:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; 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-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chromocell
Therapeutics Corporation</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4400
Route 9 South, Suite 1000</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Freehold,
New Jersey, 07728</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:
Francis Knuettel II, Interim CEO</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Or
such other address as may be given to the Lender from time to time</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
6. <U>Usury</U>. This Note is hereby expressly limited so that in no event whatsoever, whether by reason of acceleration of maturity
of the loan evidenced hereby or otherwise, shall the amount paid or agreed to be paid to the Lender hereunder for the loan, use,
forbearance or detention of money exceed that permissible under applicable law. If at any time the performance of any provision
of this Note or of any other agreement or instrument entered into in connection with this Note involves a payment exceeding the
limit of the interest that may be validly charged for the loan, use, forbearance or detention of money under applicable law, then
automatically and retroactively, ipso facto, the obligation to be performed shall be reduced to such limit, it being the specific
intent of the Borrower and the Lender that all payments under this Note are to be credited first to interest as permitted by law,
but not in excess of <I>(i)</I> the agreed rate of interest set forth herein or therein or <I>(ii)</I> that permitted by law,
whichever is the lesser, and the balance toward the reduction of principal. The provision of this Section 6 shall never be superseded
or waived and shall control every other provision of this Note and all other agreements and instruments between the Borrower and
the Lender entered into in connection with this Note. To the extent permitted by applicable law, Borrower waives any right to
assert the defense of usury.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
7. <U>Governing Law; Waiver of Jury Trial</U>. This Note and the provisions hereof are to be construed according to and are governed
by the laws of the State of Delaware, without regard to principles of conflicts of laws thereof. Borrower agrees that the New
York State Supreme Court located in the County of New York, State of New York shall have exclusive jurisdiction in connection
with any dispute concerning or arising out of this Note or otherwise relating to the parties relationship. In any action, lawsuit
or proceeding brought to enforce or interpret the provisions of this Note and/or arising out of or relating to any dispute between
the parties, Lender shall be entitled to recover all of its costs and expenses relating collection and enforcement of this Note
(including without limitation, reasonable attorney&rsquo;s fees and disbursements) in addition to any other relief to which Lender
may be entitled and all costs of collection, including any legal fees associated with this Note will be paid by the Borrower.
Each party agrees that any process or notice to be served or delivered in connection with any action, lawsuit or proceeding brought
hereunder may be accomplished in accordance with the notice provisions set forth above or as otherwise provided by applicable
law. <B>BORROWER HEREBY WAIVES TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM, WHETHER IN CONTRACT OR TORT, AT
LAW OR IN EQUITY, ARISING OUT OF OR IN ANY WAY RELATING TO THIS NOTE.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
8. <U>Successors and Assigns</U>. Subject to applicable laws, this Note and the rights and obligations evidenced hereby shall
inure to the benefit of and be binding upon the successors of Borrower and the successors and assigns of Lender.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
9. <U>Amendment</U>. This Note may be modified or amended or the provisions hereof waived only with the written consent of Lender
and Borrower.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
10. <U>Severability</U>. Wherever possible, each provision of this Note shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Note shall be prohibited by or invalid under applicable law, such
provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions
or the remaining provisions of this Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>SIGNATURE
PAGE TO FOLLOW</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IN
WITNESS WHEREOF, Borrower and Lender have caused this Promissory Note to be executed by a duly authorized officer as of the date
first above indicated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BORROWER</B>:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chromocell
        Therapeutics Corporation</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font-size: 10pt; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/
    Francis Knuettel II</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Francis Knuettel
    II</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Interim Chief
    Executive Officer</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>LENDER</B>:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balmoral
        Financial Group LLC</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font-size: 10pt; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/
    Ezra Friedberg</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:
        Ezra Friedberg</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: General Partner</FONT></TD></TR>
</TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0; margin-left: 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.26
<SEQUENCE>7
<FILENAME>g083881_ex4-26.htm
<DESCRIPTION>EXHIBIT 4.26
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit
4.26</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CHROMOCELL
THERAPEUTICS CORPORATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second
Amended and Restated Promissory Note</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Face
    Amount: $1,800.00</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">November
    13, 2023</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    Price: $1,500.00</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    York, NY</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FOR
VALUE RECEIVED, the undersigned Chromocell Therapeutics Corporation, a Delaware corporation (the &ldquo;<U>Borrower</U>&rdquo;),
promises to pay to the order of Camden Capital LLC, its successors or assigns (the &ldquo;<U>Lender</U>&rdquo;), one thousand
and eight hundred dollars ($1,800) (the &ldquo;<U>Face Amount</U>&rdquo;) by the Maturity Date as provided herein or on such earlier
date as this Note is required or permitted to be repaid as provided hereunder. Effective November 13, 2023, this Note amends and
restates in its entirety that certain Promissory Note, dated October 12, 2023, as amended and restated by that certain Amended
and Restated Promissory Note, dated November 7, 2023 (together, the &ldquo;<U>Prior Note</U>&rdquo;), in the principal sum of
the Face Amount, previously issued by the Borrower to the Lender, and is intended to constitute an amendment and modification
to, and otherwise to constitute a continuation of, the Prior Note, and is not intended and shall not be construed to constitute
a novation thereof or of any obligation of any party thereunder. Borrower and Lender agree that no Event of Default existed under
the Prior Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
1. <U>Maturity; Interest</U>. The Face Amount shall be repaid in cash on the earlier to occur of: (i) February 29, 2024 and (ii)
seven calendar days following the closing of the Borrower&rsquo;s initial public offering pursuant to the Registration Statement
on Form S-1 (File No. 333-269188) (such date, the &ldquo;<U>Maturity Date</U>&rdquo;); provided, that this Note may be prepaid
in whole or in part at any time and from time-to-time upon three (3) prior business days&rsquo; written notice, without penalty.
This Note shall not bear interest except as contemplated in Section 4 below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
2. <U>Repayment</U>. On the Maturity Date (or earlier as provided in Section 1), Borrower shall repay, in cash, one hundred percent
(100%) of the Face Amount and interest due on this Note outstanding as of the date of repayment. So long as no Event of Default
has occurred, such repayment shall satisfy Borrower&rsquo;s obligations pursuant to this Note in full, and this Note shall be
of no further force and effect.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
3. <U>Transferability</U>. This Note and any of the rights granted hereunder are freely transferable or assigned by Lender, in
whole or in part, in its sole discretion; provided, there is notice to the Borrower.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
4. <U>Event of Default</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
In the event that any one of the following events shall occur (whatever the reason and whether it shall be voluntary or involuntary
or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order, rule or regulation of
any administrative or governmental body), it shall be deemed an Event of Default:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
Any default in the payment of the principal of, interest on or other charges in respect of this Note, as and when the same shall
become due and payable;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
Borrower shall fail to observe or perform any other material covenant, agreement or warranty contained in, or otherwise commit
any breach or default of any provision of this Note;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)
There shall be a breach of any of the representations and warranties set forth in this Note or any transaction document executed
contemporaneously herewith; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)
Borrower, shall commence, or there shall be commenced against Borrower any applicable bankruptcy or insolvency laws as now or
hereafter in effect or any successor thereto, or Borrower commences any other proceeding under any reorganization, arrangement,
adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or
hereafter in effect relating to Borrower or there is commenced against Borrower any such bankruptcy, insolvency or other proceeding
which remains undismissed for a period of sixty (60) days; or Borrower is adjudicated insolvent or bankrupt; or any order of relief
or other order approving any such case or proceeding is entered; or Borrower suffers any appointment of any custodian, private
or court appointed receiver or the like for it or any substantial part of its property which continues undischarged or unstayed
for a period of sixty (60) days; or Borrower makes a general assignment for the benefit of creditors; or Borrower shall fail to
pay or shall state that it is unable to pay or shall be liable to pay, its debts as they become due or by any act or failure to
act expressly indicate its consent to, approval of or acquiescence in any of the foregoing; or any corporate or other action is
taken by the Borrower for the purpose of effecting any of the foregoing.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Upon the occurrence of an Event of Default, the Lender shall give the Borrower notice of such occurrence, at which time the Borrower
shall have five (5) business days from receipt of such notice to pay the outstanding amount of the Note in full. In the event
that full payment is not made upon the expiry of the five (5) day period, a default penalty equal to two percent (2%) of the Face
Amount per month during the period of Default (the &ldquo;<U>Default Penalty</U>&rdquo;). Lender may then, at its sole discretion
declare the entire then outstanding Face Amount of this Note and the Default Penalty immediately due and payable (a &ldquo;<U>Default
Declaration</U>&rdquo;), in which event the Lender may, at its sole discretion take any action it deems necessary to recover amounts
due under this Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
Upon the occurrence of an Event of Default, the Lender shall be entitled to receive, in addition to the Face Amount of the Note
and the Default Penalty, the Lender shall be entitled to recover all of its costs, fees (including without limitation, reasonable
attorney&rsquo;s fees and disbursements), and expenses relating collection and enforcement Note, including all costs and expenses
incurred by it in enforcing its rights under the Note and any transaction document entered into contemporaneously herewith.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
The failure of Lender to exercise any of its rights hereunder in any particular instance shall not constitute a waiver of the
same or of any other right in that or any subsequent instance with respect to Lender or any subsequent holder. <B>BORROWER ACKNOWLEDGES
THAT THE LOAN EVIDENCED BY THIS NOTE IS A COMMERCIAL TRANSACTION. BORROWER FURTHER WAIVES DILIGENCE, DEMAND, PRESENTMENT FOR PAYMENT,
NOTICE OF NONPAYMENT, PROTEST AND NOTICE OF PROTEST, AND NOTICE OF ANY RENEWALS OR EXTENSIONS OF THIS NOTE. BORROWER ACKNOWLEDGES
THAT IT MAKES THIS WAIVER KNOWINGLY, VOLUNTARILY, WITHOUT DURESS AND ONLY AFTER CONSIDERATION OF RAMIFICATION THIS WAIVER WITH
ITS ATTORNEYS. </B>Lender may immediately and without expiration of any grace period enforce any and all of its rights and remedies
hereunder and all other remedies available to it under applicable law. The remedies available to the Lender upon the occurrence
of an Event of Default shall be cumulative.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
5. <U>Notices</U>. Any and all notices, service of process or other communications or deliveries required or permitted to be given
or made pursuant to any of the provisions of this Note shall be deemed to have been duly given or made for all purposes when hand
delivered or sent by certified or registered mail, return receipt requested and postage prepaid, overnight mail or courier as
follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
to Lender, at:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Camden
Capital LLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">116
E 63<SUP>rd</SUP> St., Apt. 3C</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
York, NY 10065</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Or
such other address as may be given to the Borrower from time to time</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
to Borrower, at:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; 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-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chromocell
Therapeutics Corporation</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4400
Route 9 South, Suite 1000</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Freehold,
New Jersey, 07728</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:
Francis Knuettel II, Interim CEO</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Or
such other address as may be given to the Lender from time to time</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
6. <U>Usury</U>. This Note is hereby expressly limited so that in no event whatsoever, whether by reason of acceleration of maturity
of the loan evidenced hereby or otherwise, shall the amount paid or agreed to be paid to the Lender hereunder for the loan, use,
forbearance or detention of money exceed that permissible under applicable law. If at any time the performance of any provision
of this Note or of any other agreement or instrument entered into in connection with this Note involves a payment exceeding the
limit of the interest that may be validly charged for the loan, use, forbearance or detention of money under applicable law, then
automatically and retroactively, ipso facto, the obligation to be performed shall be reduced to such limit, it being the specific
intent of the Borrower and the Lender that all payments under this Note are to be credited first to interest as permitted by law,
but not in excess of <I>(i)</I> the agreed rate of interest set forth herein or therein or <I>(ii)</I> that permitted by law,
whichever is the lesser, and the balance toward the reduction of principal. The provision of this Section 6 shall never be superseded
or waived and shall control every other provision of this Note and all other agreements and instruments between the Borrower and
the Lender entered into in connection with this Note. To the extent permitted by applicable law, Borrower waives any right to
assert the defense of usury.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
7. <U>Governing Law; Waiver of Jury Trial</U>. This Note and the provisions hereof are to be construed according to and are governed
by the laws of the State of Delaware, without regard to principles of conflicts of laws thereof. Borrower agrees that the New
York State Supreme Court located in the County of New York, State of New York shall have exclusive jurisdiction in connection
with any dispute concerning or arising out of this Note or otherwise relating to the parties relationship. In any action, lawsuit
or proceeding brought to enforce or interpret the provisions of this Note and/or arising out of or relating to any dispute between
the parties, Lender shall be entitled to recover all of its costs and expenses relating collection and enforcement of this Note
(including without limitation, reasonable attorney&rsquo;s fees and disbursements) in addition to any other relief to which Lender
may be entitled and all costs of collection, including any legal fees associated with this Note will be paid by the Borrower.
Each party agrees that any process or notice to be served or delivered in connection with any action, lawsuit or proceeding brought
hereunder may be accomplished in accordance with the notice provisions set forth above or as otherwise provided by applicable
law. <B>BORROWER HEREBY WAIVES TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM, WHETHER IN CONTRACT OR TORT, AT
LAW OR IN EQUITY, ARISING OUT OF OR IN ANY WAY RELATING TO THIS NOTE.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
8. <U>Successors and Assigns</U>. Subject to applicable laws, this Note and the rights and obligations evidenced hereby shall
inure to the benefit of and be binding upon the successors of Borrower and the successors and assigns of Lender.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
9. <U>Amendment</U>. This Note may be modified or amended or the provisions hereof waived only with the written consent of Lender
and Borrower.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
10. <U>Severability</U>. Wherever possible, each provision of this Note shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Note shall be prohibited by or invalid under applicable law, such
provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions
or the remaining provisions of this Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>SIGNATURE
PAGE TO FOLLOW</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IN
WITNESS WHEREOF, Borrower and Lender have caused this Promissory Note to be executed by a duly authorized officer as of the date
first above indicated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BORROWER</B>:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chromocell
        Therapeutics Corporation</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font-size: 10pt; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/
    Francis Knuettel II</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Francis Knuettel
    II</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Interim Chief
    Executive Officer</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>LENDER</B>:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Camden
        Capital LLC</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font-size: 10pt; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/
    Francis Knuettel II</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:
        Francis Knuettel II</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Managing Member</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.27
<SEQUENCE>8
<FILENAME>g083881_ex4-27.htm
<DESCRIPTION>EXHIBIT 4.27
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit
4.27</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CHROMOCELL
THERAPEUTICS CORPORATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second
Amended and Restated Promissory Note</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Face
    Amount: $172,200.00</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">November
    13, 2023</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    Price: $143,500.00</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    York, NY</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FOR
VALUE RECEIVED, the undersigned Chromocell Therapeutics Corporation, a Delaware corporation (the &ldquo;<U>Borrower</U>&rdquo;),
promises to pay to the order of MDB Merchants Park LLC, its successors or assigns (the &ldquo;<U>Lender</U>&rdquo;), one hundred
and seventy-two thousand and two hundred dollars ($172,200) (the &ldquo;<U>Face Amount</U>&rdquo;) by the Maturity Date as provided
herein or on such earlier date as this Note is required or permitted to be repaid as provided hereunder. Effective November 13,
2023, this Note amends and restates in its entirety that certain Promissory Note, dated October 12, 2023, as amended and restated
by that certain Amended and Restated Promissory Note, dated November 7, 2023 (together, the &ldquo;<U>Prior Note</U>&rdquo;),
in the principal sum of the Face Amount, previously issued by the Borrower to the Lender, and is intended to constitute an amendment
and modification to, and otherwise to constitute a continuation of, the Prior Note, and is not intended and shall not be construed
to constitute a novation thereof or of any obligation of any party thereunder. Borrower and Lender agree that no Event of Default
existed under the Prior Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
1. <U>Maturity; Interest</U>. The Face Amount shall be repaid in cash on the earlier to occur of: (i) February 29, 2024 and (ii)
seven calendar days following the closing of the Borrower&rsquo;s initial public offering pursuant to the Registration Statement
on Form S-1 (File No. 333-269188) (such date, the &ldquo;<U>Maturity Date</U>&rdquo;); provided, that this Note may be prepaid
in whole or in part at any time and from time-to-time upon three (3) prior business days&rsquo; written notice, without penalty.
This Note shall not bear interest except as contemplated in Section 4 below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
2. <U>Repayment</U>. On the Maturity Date (or earlier as provided in Section 1), Borrower shall repay, in cash, one hundred percent
(100%) of the Face Amount and interest due on this Note outstanding as of the date of repayment. So long as no Event of Default
has occurred, such repayment shall satisfy Borrower&rsquo;s obligations pursuant to this Note in full, and this Note shall be
of no further force and effect.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
3. <U>Transferability</U>. This Note and any of the rights granted hereunder are freely transferable or assigned by Lender, in
whole or in part, in its sole discretion; provided, there is notice to the Borrower.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
4. <U>Event of Default</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
In the event that any one of the following events shall occur (whatever the reason and whether it shall be voluntary or involuntary
or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order, rule or regulation of
any administrative or governmental body), it shall be deemed an Event of Default:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
Any default in the payment of the principal of, interest on or other charges in respect of this Note, as and when the same shall
become due and payable;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
Borrower shall fail to observe or perform any other material covenant, agreement or warranty contained in, or otherwise commit
any breach or default of any provision of this Note;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)
There shall be a breach of any of the representations and warranties set forth in this Note or any transaction document executed
contemporaneously herewith; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)
Borrower, shall commence, or there shall be commenced against Borrower any applicable bankruptcy or insolvency laws as now or
hereafter in effect or any successor thereto, or Borrower commences any other proceeding under any reorganization, arrangement,
adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or
hereafter in effect relating to Borrower or there is commenced against Borrower any such bankruptcy, insolvency or other proceeding
which remains undismissed for a period of sixty (60) days; or Borrower is adjudicated insolvent or bankrupt; or any order of relief
or other order approving any such case or proceeding is entered; or Borrower suffers any appointment of any custodian, private
or court appointed receiver or the like for it or any substantial part of its property which continues undischarged or unstayed
for a period of sixty (60) days; or Borrower makes a general assignment for the benefit of creditors; or Borrower shall fail to
pay or shall state that it is unable to pay or shall be liable to pay, its debts as they become due or by any act or failure to
act expressly indicate its consent to, approval of or acquiescence in any of the foregoing; or any corporate or other action is
taken by the Borrower for the purpose of effecting any of the foregoing.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1.5in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Upon the occurrence of an Event of Default, the Lender shall give the Borrower notice of such occurrence, at which time the Borrower
shall have five (5) business days from receipt of such notice to pay the outstanding amount of the Note in full. In the event
that full payment is not made upon the expiry of the five (5) day period, a default penalty equal to two percent (2%) of the Face
Amount per month during the period of Default (the &ldquo;<U>Default Penalty</U>&rdquo;). Lender may then, at its sole discretion
declare the entire then outstanding Face Amount of this Note and the Default Penalty immediately due and payable (a &ldquo;<U>Default
Declaration</U>&rdquo;), in which event the Lender may, at its sole discretion take any action it deems necessary to recover amounts
due under this Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)
Upon the occurrence of an Event of Default, the Lender shall be entitled to receive, in addition to the Face Amount of the Note
and the Default Penalty, the Lender shall be entitled to recover all of its costs, fees (including without limitation, reasonable
attorney&rsquo;s fees and disbursements), and expenses relating collection and enforcement Note, including all costs and expenses
incurred by it in enforcing its rights under the Note and any transaction document entered into contemporaneously herewith.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
The failure of Lender to exercise any of its rights hereunder in any particular instance shall not constitute a waiver of the
same or of any other right in that or any subsequent instance with respect to Lender or any subsequent holder. <B>BORROWER ACKNOWLEDGES
THAT THE LOAN EVIDENCED BY THIS NOTE IS A COMMERCIAL TRANSACTION. BORROWER FURTHER WAIVES DILIGENCE, DEMAND, PRESENTMENT FOR PAYMENT,
NOTICE OF NONPAYMENT, PROTEST AND NOTICE OF PROTEST, AND NOTICE OF ANY RENEWALS OR EXTENSIONS OF THIS NOTE. BORROWER ACKNOWLEDGES
THAT IT MAKES THIS WAIVER KNOWINGLY, VOLUNTARILY, WITHOUT DURESS AND ONLY AFTER CONSIDERATION OF RAMIFICATION THIS WAIVER WITH
ITS ATTORNEYS. </B>Lender may immediately and without expiration of any grace period enforce any and all of its rights and remedies
hereunder and all other remedies available to it under applicable law. The remedies available to the Lender upon the occurrence
of an Event of Default shall be cumulative.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 1in"><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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
5. <U>Notices</U>. Any and all notices, service of process or other communications or deliveries required or permitted to be given
or made pursuant to any of the provisions of this Note shall be deemed to have been duly given or made for all purposes when hand
delivered or sent by certified or registered mail, return receipt requested and postage prepaid, overnight mail or courier as
follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
to Lender, at:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MDB
Merchants Park LLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8
The Green Suite A</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dover,
Delaware 19901</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Or
such other address as may be given to the Borrower from time to time</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
to Borrower, at:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; 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-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chromocell
Therapeutics Corporation</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4400
Route 9 South, Suite 1000</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Freehold,
New Jersey, 07728</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 35.3pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:
Francis Knuettel II, Interim CEO</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 34.95pt; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Or
such other address as may be given to the Lender from time to time</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
6. <U>Usury</U>. This Note is hereby expressly limited so that in no event whatsoever, whether by reason of acceleration of maturity
of the loan evidenced hereby or otherwise, shall the amount paid or agreed to be paid to the Lender hereunder for the loan, use,
forbearance or detention of money exceed that permissible under applicable law. If at any time the performance of any provision
of this Note or of any other agreement or instrument entered into in connection with this Note involves a payment exceeding the
limit of the interest that may be validly charged for the loan, use, forbearance or detention of money under applicable law, then
automatically and retroactively, ipso facto, the obligation to be performed shall be reduced to such limit, it being the specific
intent of the Borrower and the Lender that all payments under this Note are to be credited first to interest as permitted by law,
but not in excess of <I>(i)</I> the agreed rate of interest set forth herein or therein or <I>(ii)</I> that permitted by law,
whichever is the lesser, and the balance toward the reduction of principal. The provision of this Section 6 shall never be superseded
or waived and shall control every other provision of this Note and all other agreements and instruments between the Borrower and
the Lender entered into in connection with this Note. To the extent permitted by applicable law, Borrower waives any right to
assert the defense of usury.</FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
7. <U>Governing Law; Waiver of Jury Trial</U>. This Note and the provisions hereof are to be construed according to and are governed
by the laws of the State of Delaware, without regard to principles of conflicts of laws thereof. Borrower agrees that the New
York State Supreme Court located in the County of New York, State of New York shall have exclusive jurisdiction in connection
with any dispute concerning or arising out of this Note or otherwise relating to the parties relationship. In any action, lawsuit
or proceeding brought to enforce or interpret the provisions of this Note and/or arising out of or relating to any dispute between
the parties, Lender shall be entitled to recover all of its costs and expenses relating collection and enforcement of this Note
(including without limitation, reasonable attorney&rsquo;s fees and disbursements) in addition to any other relief to which Lender
may be entitled and all costs of collection, including any legal fees associated with this Note will be paid by the Borrower.
Each party agrees that any process or notice to be served or delivered in connection with any action, lawsuit or proceeding brought
hereunder may be accomplished in accordance with the notice provisions set forth above or as otherwise provided by applicable
law. <B>BORROWER HEREBY WAIVES TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM, WHETHER IN CONTRACT OR TORT, AT
LAW OR IN EQUITY, ARISING OUT OF OR IN ANY WAY RELATING TO THIS NOTE.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
8. <U>Successors and Assigns</U>. Subject to applicable laws, this Note and the rights and obligations evidenced hereby shall
inure to the benefit of and be binding upon the successors of Borrower and the successors and assigns of Lender.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
9. <U>Amendment</U>. This Note may be modified or amended or the provisions hereof waived only with the written consent of Lender
and Borrower.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
10. <U>Severability</U>. Wherever possible, each provision of this Note shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Note shall be prohibited by or invalid under applicable law, such
provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions
or the remaining provisions of this Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>SIGNATURE
PAGE TO FOLLOW</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: right; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IN
WITNESS WHEREOF, Borrower and Lender have caused this Promissory Note to be executed by a duly authorized officer as of the date
first above indicated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BORROWER</B>:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chromocell
        Therapeutics Corporation</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font-size: 10pt; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/
    Francis Knuettel II</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Francis Knuettel
    II</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Interim Chief
    Executive Officer</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>LENDER</B>:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MDB
        Merchants Park LLC</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; font-size: 10pt; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/
    Michael Bodner</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:
        Michael Bodner</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Manager</FONT></TD></TR>
</TABLE>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.28
<SEQUENCE>9
<FILENAME>g083881_ex4-28.htm
<DESCRIPTION>EXHIBIT 4.28
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 4.28</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>STOCK ISSUANCE AGREEMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This STOCK ISSUANCE AGREEMENT
(this &ldquo;<U>Agreement</U>&rdquo;) is made as of December 23, 2023 (the &ldquo;<U>Effective Date</U>&rdquo;) between Chromocell Therapeutics
Corporation, a Delaware corporation (&ldquo;<U>Chromocell</U>&rdquo;) and Benuvia Operations, LLC, a Delaware limited liability company
(&ldquo;<U>Benuvia</U>&rdquo;). Chromocell and Benuvia are collectively referred to herein as the &ldquo;<U>Parties</U>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>RECITALS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS, </B>Subject to
the terms and conditions set forth in this Agreement and pursuant to applicable exemptions from registration under the Securities Act
of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;), Chromocell desires to issue to Benuvia, and Benuvia desires to receive
from Chromocell shares of Chromocell&rsquo;s common stock, par value $0.0001 per share (&ldquo;<U>Common Stock</U>&rdquo;) as set forth
herein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, concurrently
with the execution of this Agreement, Chromocell is entering into a Development and License Agreement with Benuvia (the &ldquo;<U>License
Agreement</U>&rdquo;), dated as of the Effective Date, pursuant to which Benuvia is licensing the rights to certain technology
relating to Diclofenac, Rizatriptan and Ondansetron to Chromocell;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS, </B>defined terms
used in this Agreement but not defined herein shall have the meanings set forth in the License Agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, in consideration
of Benuvia&rsquo;s license to Chromocell under the License Agreement, Chromocell has agreed to issue to Benuvia certain shares of Chromocell&rsquo;s
Common Stock in accordance with the terms and conditions of the License Agreement and this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><U>AGREEMENT</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE</B>, in
consideration of the mutual covenants contained herein and other good and valuable consideration, the Parties agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>A.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Closing and Delivery</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">i.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payment of License Fee</U>. Subject to the terms and conditions of this Agreement, the License Agreement and in reliance upon
the representations, warranties and agreements contained herein and therein, Chromocell will issue to Benuvia 3,458,033 shares of Common
Stock (the &ldquo;<U>Benuvia Shares</U>&rdquo;), which shall be subject to any future reverse stock split or similar transaction of Chromocell&rsquo;s
Common Stock (the &ldquo;<U>License Fee</U>&rdquo;). The Parties agree that the consideration received by Chromocell hereunder shall be
the execution and delivery by Benuvia of the License Agreement which consideration the Parties have agreed is at least equal to the par
value of the Benuvia Shares issued hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">ii.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Closing</U>. The payment of License Fee and issuance of the Benuvia Shares shall occur simultaneously with the execution of
this Agreement and the License Agreement remotely via the exchange of documents and signatures (the &ldquo;<U>Closing</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">iii.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Chromocell Deliverables</U>. At the Closing, Chromocell shall deliver to Benuvia:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">A certificate of the Secretary (or other authorized officer) of Chromocell certifying: (a) that attached
thereto are true and complete copies of all resolutions of the board of directors of Chromocell (i) authorizing the execution, delivery,
and performance of this Agreement, the License Agreement, and the other agreements, instruments, and documents required to be delivered
in connection with this Agreement or at the Closing (collectively, the &ldquo;<U>Transaction Documents</U>&rdquo;) to which Chromocell
is a party (ii) authorizing the consummation of the transactions contemplated by the Transaction Documents, and (iii) confirming that
the Benuvia Shares shall, when issued, be deemed duly authorized and validly issued, fully paid and non-assessable, and that such resolutions
are in full force and effect; (b) the names, titles, and signatures of the officers of Chromocell authorized to sign the Transaction Documents;
and (c) that attached thereto are true and complete copies of the Certificate of Incorporation and Bylaws of Chromocell, each, as currently
in effect, including any amendments or restatements thereto, and that such governing documents remain in full force and effect at the
time of Closing; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">the shares of Common Stock required to be issued at the Closing, registered in the name of Benuvia.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>B.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Representations and Warranties</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">i.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Representations and Warranties of the Parties</U>. Each Party hereby agrees that the representations and warranties contained
in Article VIII of the License Agreement are incorporated into this Agreement and made as of the Closing. In addition, each Party also
represents and warrants to the other Party, as of the Closing:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">It is duly formed or organized, as the case may be, is validly existing and in good standing under the
laws of the state of its organization or formation, as the case may be, and has all company powers and all governmental licenses, authorizations,
permits, consents and approvals required to carry on its business as now conducted, except for those licenses, authorizations, permits,
consents and approvals the absence of which would not, individually or in the aggregate, have a material adverse effect on it.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">It is duly qualified to do business as a foreign company and is in good standing in each jurisdiction
where such qualification is necessary, except for those jurisdictions where failure to be so qualified would not, individually or in the
aggregate, have a material adverse effect on it.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">The execution, delivery and performance by it of this Agreement, the performance of its obligations hereunder,
and the consummation of the transactions contemplated hereby are within its company powers and have been duly authorized by all necessary
action. This Agreement has been duly and validly executed and delivered by it and is a legal, valid and binding obligation of it, enforceable
against it in accordance with its terms, except as enforceability thereof may be limited by bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium, or other similar laws now or hereafter in effect relating to creditors&rsquo; rights generally or by general
principles of equity (regardless of whether enforceability is considered in a proceeding at law or in equity).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">The execution and delivery of this Agreement and the performance by it of its obligations under this Agreement
and the transactions contemplated hereby require no action by or in respect of, or filing with, any governmental body agency, official
or authority, except for filings with the United States Patent and Trademark Office, the United States Securities and Exchange Commission
(the &ldquo;<U>Commission</U>&rdquo;) and other institutions and offices with similar functions in foreign jurisdictions.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(5)</TD><TD STYLE="text-align: justify">The execution and delivery by it of this Agreement and the consummation by it of the transactions contemplated
hereby and performance of its obligations under this Agreement do not and will not (i) violate its organization or governance documents,
(ii) violate any applicable law, rule, regulation, judgment, injunction, order or decree, (iii) require any consent or other action by
any person, constitute a default under, result in a violation of, conflict with, or give rise to any right of termination, cancellation
or acceleration of any right or obligation of it, or to a loss of any benefit to which it is entitled under any provision of any agreement
or other instrument binding upon it, or any license, franchise, permit, certificate, approval or other similar authorization affecting,
or relating in any way to, the assets or business of it, or (iv) result in the creation or imposition of any Lien on any asset of it;
<I>provided, however</I>, that clauses (ii) and (iii) are limited to circumstances and events that would have a material adverse effect.
A &ldquo;<U>Lien</U>&rdquo; means, with respect to any property or asset, any mortgage, lien, pledge, charge, security interest, encumbrance
or other adverse claim of any kind in respect of such property or asset.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(6)</TD><TD STYLE="text-align: justify">Benuvia acknowledges that the securities issued pursuant to this Agreement are not registered under the
Securities Act, or any state securities laws, and that such securities may not be transferred or sold except pursuant to the registration
provisions of the Securities Act, or pursuant to an applicable exemption therefrom and subject to state securities laws and regulations,
as applicable. Benuvia is able to bear the economic risk of holding the securities 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.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(7)</TD><TD STYLE="text-align: justify">Benuvia acknowledges that any certificates evidencing the securities issued pursuant to this Agreement
shall bear a restrictive legend in substantially the following form (and including related stock transfer instructions and record notations):</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white"><B>THESE SECURITIES
HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION
FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES ACT&rdquo;), AND, ACCORDINGLY, MAY NOT BE OFFERED
OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR
IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS OR BLUE SKY LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(8)</TD><TD STYLE="text-align: justify">Neither Benuvia nor any of the officers, directors or employees of Benuvia has employed any broker or
finder in connection with the transaction contemplated by this Agreement. Benuvia shall indemnify Chromocell from and against any broker&rsquo;s,
finder&rsquo;s or agent&rsquo;s fees for which Benuvia is responsible.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">ii.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Additional Representations and Warranties of Chromocell</U>. Chromocell represents and warrants to Benuvia, as of the Closing:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">The shares of Common Stock to be issued hereunder have been duly authorized by all necessary corporate
action and, when issued in accordance with the terms hereof, will be duly authorized and validly issued, fully paid and non-assessable.
In addition, such shares will be free and clear of all liens, claims, charges, security interests or agreements, pledges, assignments,
covenants, restrictions or other encumbrances created by, or imposed by, Chromocell and rights of refusal of any kind imposed by Chromocell
(other than restrictions on transfer under applicable securities laws) and the holder of such shares shall be entitled to all rights accorded
to a holder of Common Stock. As of the Effective Date, Chromocell&rsquo;s authorized capital stock consists of:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">100,000,000 shares of Chromocell&rsquo;s Common Stock, of which 31,668,632 shares are issued and
                                                                outstanding; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">10,000,000 shares of Chromocell&rsquo;s preferred stock, par value $0.0001 per share, of which 602,600
are issued and outstanding.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>


<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">As of the Closing (i) all of the issued and outstanding shares of capital stock of Chromocell have been
duly authorized and validly issued, fully paid and non-assessable, (ii) all of the issued and outstanding shares of capital stock of Chromocell
will have been issued in compliance with all applicable federal and state securities laws, (iii) none of the issued and outstanding shares
of capital stock of Chromocell will have been issued in violation of any agreement, arrangement, or commitment to which Chromocell or
any of its Affiliates is a party or is subject to or in violation of any preemptive or similar rights of any person, and (iv) all of the
Common Stock will have the rights, preferences, powers, restrictions, and limitations set forth in the Certificate of Incorporation of
Chromocell and under the Delaware General Corporation Law.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>C.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Resale Registration Statement</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">i.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>As soon as reasonably practicable (and in any event within one hundred and eighty (180) calendar days of the date on which the
initial public offering of Chromocell&rsquo;s securities (the &ldquo;<U>IPO</U>&rdquo;) closes (the &ldquo;<U>Filing Date</U>&rdquo;)),
Chromocell shall, at Chromocell&rsquo;s sole cost and expense, file a Registration Statement on Form S-3 or Form S-1 or other appropriate
form if Chromocell is not then S-3 eligible (the &ldquo;<U>Resale Registration Statement</U>&rdquo;) providing for the registration and
resale by Benuvia of the Benuvia Shares. Chromocell shall use commercially reasonable efforts to cause such registration to become effective
as soon as practicable and to keep such Resale Registration Statement effective at all times until Benuvia no longer owns any Benuvia
Shares. Benuvia will be required to complete, sign and return an investor questionnaire to Chromocell in connection with any such registration
statement. In connection with any Resale Registration Statement, Chromocell shall provide Benuvia with no less favorable registration
rights than as provided to any other of Chromocell&rsquo;s selling stockholders whose shares are registered on the Resale Registration
Statement, including, without limitation, such rights pertaining to notice periods, underwriting requirements, Chromocell&rsquo;s obligations
to effect such registration, expenses of registration, indemnification and reporting under the Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">ii.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Lock-Up Agreement from Benuvia</U>. Notwithstanding any other provision of this Agreement, as a condition to the issuance to
Benuvia of the Benuvia Shares hereunder, Benuvia shall be required to execute and deliver any Lock-Up Agreement to be provided to Benuvia
by Chromocell and/or the underwriters in connection with the IPO and in respect of the Benuvia Shares issued to Benuvia for such reasonable
period, not to exceed 180 days, but in any event on the same terms and conditions as the other holders of Chromocell&rsquo;s Common Stock
subject to Lock-Up Agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>D.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Covenants</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">i.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Standstill Provision</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Benuvia hereby agrees that, for a period of three (3) years from the date hereof, unless specifically
invited in writing by Chromocell to do so, neither Benuvia nor any of its affiliates (including subsidiaries) will, or will cause or knowingly
permit any of its or their directors, officers, employees, investment bankers, attorneys, accountants or other advisors or representatives
to, in any manner, directly or indirectly:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">effect or seek, initiate, offer or propose (whether publicly or otherwise) to effect, or cause or participate
in or in any way advise or, assist any other person to effect or seek, initiate, offer or propose (whether publicly or otherwise) to effect
or cause or participate in, any acquisition of any securities (or beneficial ownership thereof) or assets of Chromocell; any tender or
exchange offer, merger, consolidation or other business combination involving Chromocell; any recapitalization, restructuring, liquidation,
dissolution or other extraordinary transaction with respect to Chromocell; or any &ldquo;solicitation&rdquo; of &ldquo;proxies&rdquo;
(as such terms are used in the proxy rules of the Commission) or consents to vote any voting securities of Chromocell;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.75in; text-align: justify; text-indent: -0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>form, join or in any way participate in a &ldquo;group&rdquo; (as defined under the Securities Exchange Act of 1934, as amended,
hereinafter a &ldquo;<U>Group</U>&rdquo;) with respect to any securities of Chromocell;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.75in; text-align: justify; text-indent: -0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>otherwise act, alone or in concert with others, to seek to control or influence the management, board of directors, or policies
of Chromocell (except as contemplated by Section&nbsp;D(iii) of this Agreement);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.75in; text-align: justify; text-indent: -0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>take any action which could reasonably be expected to force Chromocell to make a public announcement regarding any of the types
of matters set forth in this Section&nbsp;D(i); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.75in; text-align: justify; text-indent: -0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>enter into any agreements, discussions or arrangements with any third party with respect to any of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">Notwithstanding the foregoing, Chromocell hereby agrees that the provisions of this Section D(i) shall
not apply to the following:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the purchase by Benuvia and/or its affiliates after the date hereof (and not pursuant to this Agreement)
of up to an aggregate number of shares of Common Stock that does not exceed 10 % of the number of shares of Common Stock then issued and
outstanding;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the exercise by Benuvia and/or its affiliates, if applicable, of any voting rights available to Company
stockholders generally pursuant to any transaction described Section&nbsp;D(i)(1)(a) above, provided that Benuvia has not then either
directly, indirectly, or as a member of a Group made, effected, initiated or caused such transaction to occur or otherwise violated this
Section&nbsp;D(i);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the exercise by Benuvia and/or its affiliates, if applicable, of any voting rights generally available
to it or them as non-Affiliate security holders of a third party that is a participant in an action or transaction described in Section
D(i)(1)(a) above, provided that Benuvia has not then either directly, indirectly, or as a member of a Group made, effected, initiated
or caused such action or transaction to occur or otherwise violated this Section D(i);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">any activity by Benuvia after Chromocell has made any public announcement of its intent to solicit or
engage in any transaction which would result in the sale of all, or substantially all, of the assets or equity of Chromocell;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">making any communication to Chromocell&rsquo;s executive management on a confidential basis solely that
Benuvia would be interested in engaging in discussions with Chromocell that could result in a negotiated transaction described in Section&nbsp;D(i)(1)(a)
so long as Benuvia does not propose any such transaction or discuss or refer to potential terms thereof without Chromocell&rsquo;s prior
consent; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">the direct or indirect ownership by Benuvia of the Benuvia Shares.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">Benuvia&rsquo;s rights and Chromocell&rsquo;s obligations under this Section D(i) shall terminate upon
the termination of the License Agreement.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">ii.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Benuvia Proposals</U>. Notwithstanding any of the foregoing provisions of Section D(i), Chromocell further agrees that nothing
herein shall limit the ability of Benuvia to confidentially propose to the executive management of Chromocell and its board of directors,
and/or advocate for, any transaction between Chromocell and any third party unaffiliated with Benuvia or its Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">iii.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Further Assurances</U>. If, at any time after the Effective Date, any further action is necessary to carry out the purposes
of this Agreement, the Parties hereto will take such lawful action, including signing such additional documentation, as is reasonably
requested by any other Party to fully carry out the transactions contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">iv.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Post-Closing Litigation Cooperation</U>. At all times from and after the Effective Date, the Parties will use their commercially
reasonable efforts to make available to the other, upon reasonable written request, its, and its subsidiaries&rsquo;, officers, directors,
employees, and agents as witnesses or for providing litigation assistance (such as cooperating in a factual background investigation)
to the extent that (a) such persons may reasonably be required in connection with the prosecution or defense of any action in which the
requesting Party may from time to time be involved and (b) there is no conflict in the action between the Parties. A Party providing witness
or litigation services to the other Party under this Section D(iv) will be entitled to receive from the recipient of such services, upon
the presentation of invoices therefore, payments for amounts relating to disbursements and other out-of-pocket expenses (which shall be
deemed to exclude the costs of salaries and benefits of employees who are witnesses), that are reasonably incurred in providing such witness
services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>E.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Survival of Representations, Warranties and Agreements</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">i.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding any investigation made by any Party to this Agreement, all representations and warranties made by Chromocell and
Benuvia herein shall survive the execution of this Agreement and the payment to Benuvia of the License Fee and shall terminate eighteen
(18) months after the Closing; provided, however, that the representations and warranties made as of the Closing in Sections B(i)(1) &ndash;
B(i)(3) and B(ii) shall survive for so long as Benuvia continues to hold any of the shares of Common Stock issued hereunder. No claim
may be asserted against either Party for breach of any representation or warranty contained herein, unless written notice of such claim
is received by such Party describing in reasonable detail and to the extent available the facts and circumstances with respect to the
subject matter of such claim on or prior to the date on which the representation or warranty on which such claim is based ceases to survive
as set forth above. In no event shall any Party be liable to the other Party for any punitive, incidental, consequential, special or indirect
damages, including loss of future revenue or income, loss of business reputation or opportunity relating to the breach or alleged breach
of any representation or warranty in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>F.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Other Provisions</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">i.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Fees and Expenses</U>. Each Party shall pay the fees and expenses of its advisors, 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">ii.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Amendment and Modification</U>. This Agreement may be amended, modified, or supplemented only by written agreement of Benuvia
and Chromocell.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">iii.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Waiver of Compliance; Consents</U>. Any failure of either Party to comply with any obligation, covenant, agreement, or condition
herein, to the extent legally allowed, may be waived in writing by the other, but any such waiver or failure to insist upon strict compliance
with the obligation, covenant, agreement, or condition shall not operate as a waiver of, or estoppel with respect to, any subsequent or
other failure. Whenever this Agreement requires or permits consent by or on behalf of any Party to this Agreement, such consent shall
be given in writing in a manner consistent with the requirements for a waiver of compliance as set forth in this Section F(iii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">iv.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notices</U>. All notices, requests, demands, and other communications under this Agreement shall be in writing and shall only
be deemed to have been duly given (a) on the date of service if served personally on the Party to whom notice is to be given, (b) on the
Business Day after delivery to Federal Express or similar overnight courier or the Express Mail service maintained by the United States
Postal Service, postage prepaid and properly addressed, (c) on the date of service if sent via facsimile communication or electronic mail
communication (provided that such electronic mail communication is transmitted utilizing either &ldquo;html&rdquo; or &ldquo;pdf&rdquo;
format and the sender has not, within 24 hours of transmission, received an error message indicating that the transmission was not delivered
to the recipient), to the Party as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 87%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If to Chromocell:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chromocell Therapeutics Corporation</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4400 Route 9 South, Suite 1000</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Freehold, New Jersey 07728</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Attn: Francis Knuettel II</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Email: frank@chromocell.com</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With a copy to:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sullivan &amp; Worcester LLP<BR>
1633 Broadway</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10019<BR>
    Attn: David Danovitch and Aaron Schleicher<BR>
    Email: ddanovitch@sullivanlaw.com; aschleicher@sullivanlaw.com</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">If to Benuvia:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Benuvia Operations, LLC</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3950 N. Mays Street</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Round Rock, Texas 78665</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Attn: Darwin Richardson</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: drichardson@benuvia.com</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With a copy to:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Cohen Tauber Spievack &amp; Wagner P.C.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">420 Lexington Ave., Suite 2400</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York NY 10170-2499</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Jerry Cohen</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: jcohen@ctswlaw.com</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">v.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Assignment</U>. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding
upon, the successors, assigns, heirs, executors and administrators of the Parties hereto, provided that Benuvia shall not assign its rights
or obligations hereunder unless Benuvia assigns such rights in whole and not in part to an assignee of such rights and obligations which
shall agree in writing with Chromocell to be bound by this Agreement and that Benuvia&rsquo;s rights under Section D shall not be assignable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">vi.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">vii.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Rules of Interpretation</U>. As used in this Agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;including&rdquo; means &ldquo;including without limitation&rdquo;;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>all references to statutes are deemed to refer to such statutes as amended from time to time or as superseded by comparable successor
statutory provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">viii.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Headings; Internal References</U>. The Article and Section headings contained in this Agreement are solely for the purpose of
reference, are not part of the agreement of the parties, and shall not affect the interpretation hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">ix.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Entire Agreement</U>. This Agreement, including the License Agreement and the Exhibits thereto, and the other documents executed
and delivered pursuant hereto and thereto, contain the entire agreement among the Parties hereto pertaining to the subject matter hereof
and supersedes all prior and contemporaneous agreements and understandings. There are no restrictions, promises, representations, warranties
(express or implied), covenants, agreements, or undertakings of the parties, other than those expressly set forth or referred to in this
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">x.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Severability</U>. If any provision hereof is held by a court of competent jurisdiction to be invalid, void, or unenforceable,
the remainder of the provisions hereof shall continue in full force and effect and shall in no way be affected or invalidated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">xi.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Governing Law</U>. This Agreement shall be governed by and construed in accordance with the domestic laws of the State of Delaware,
without giving effect to any choice of law or conflicting provision or rule (whether of the State of Delaware or any other jurisdiction)
that would cause the laws of any jurisdiction other than the State of Delaware to be applied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">xii.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Consent to Jurisdiction</U>. Each Party to this Agreement agrees and consents to the exclusive jurisdiction of any court sitting
in New York, New York and the United States District Court for the Southern District of New York (if federal jurisdiction exists), and
any applicable appellate courts, with respect to all matters relating to this Agreement and to the transactions contemplated hereby, waives
all objections based on lack of venue and <I>forum non-conveniens</I> and irrevocably consents to the personal jurisdictions of all such
courts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Publicity. Except as otherwise provided herein, no Party shall issue
any press releases or otherwise make any public statement with respect to the transactions contemplated by this Agreement without the
prior written consent of the other Party, except as may be required by applicable law or regulations, in which case such Party shall provide
the other Party with reasonable notice of such publicity and/or opportunity to review such disclosure. Chromocell may issue a press release
announcing the transaction contemplated by this Agreement and the License Agreement prior to the opening of the financial markets in New
York City on the business day immediately following the Effective Date. Such press release shall be substantially in the form mutually
agreed to by the Parties.</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Parties have executed this Agreement as of
the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CHROMOCELL:</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CHROMOCELL
    THERAPEUTICS CORPORATION</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></P></TD>
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
                                         Francis Knuettel II</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:
    Francis Knuettel II</FONT></P>

<P STYLE="margin: 0pt 0"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:
    CFO</FONT></P>

<P STYLE="margin: 0pt 0"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BENUVIA:</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BENUVIA
    OPERATIONS, LLC</B></FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><P STYLE="margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
                                         Muna Said-Elmi</FONT></P>

<P STYLE="margin: 0pt 0"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:
    Muna Said-Elmi</FONT></P>

<P STYLE="margin: 0pt 0"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:
    Manager</FONT></P>

<P STYLE="margin: 0pt 0"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 30.6pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 30.6pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.29
<SEQUENCE>10
<FILENAME>g083881_ex4-29.htm
<DESCRIPTION>EXHIBIT 4.29
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXHIBIT
4.29</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHROMOCELL
THERAPEUTICS CORPORATION</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendment
No. 1 to Promissory Note</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 50%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Face
    Amount: $175,000.00&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; width: 50%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">December
    28, 2023</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-size: 10pt">
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase Price:
    $100,000.00&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York, NY</FONT></TD></TR>
</TABLE>




<P STYLE="font: 12pt 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: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chromocell
Therapeutics Corporation, a Delaware corporation (the &ldquo;<U>Borrower</U>&rdquo;), and Todd Davis, his successors or assigns (the
&ldquo;<U>Lender</U>&rdquo;), pursuant to that certain Promissory Note, dated December 6, 2022 (the &ldquo;<U>Note</U>&rdquo;), do hereby
agree to amend the Note to extend the Maturity Date (as defined in the Note) to February 29, 2024.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
consideration thereof, the Company agrees to pay to Lender the amount of One Hundred Dollars ($100).</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except
as specifically set forth herein, Borrower and Lender hereby confirm that the terms of the Note remain unmodified and in full force and
effect.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BORROWER:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 57%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="width: 39%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chromocell Therapeutics Corporation</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
  <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Francis
  Knuettel II&#9;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Francis Knuettel II</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Chief Financial Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>LENDER:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
  <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Todd
  Davis&#9;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Todd Davis</FONT></TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt 2.75in"></P>

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<DOCUMENT>
<TYPE>EX-10.13
<SEQUENCE>11
<FILENAME>g083881_ex10-13.htm
<DESCRIPTION>EXHIBIT 10.13
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.13</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CHROMOCELL THERAPEUTICS CORPORATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">December 12, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dominion Capital LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">256 W. 38th Street, 15th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, NY 10018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Securities Purchase Agreement</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Sir:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Reference is made to that certain Securities Purchase
Agreement, dated as of October 11, 2023 (the &ldquo;<U>Securities Purchase Agreement</U>&rdquo;) between Chromocell Therapeutics Corporation,
a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), and Dominion Capital LLC, a Connecticut limited liability company (the &ldquo;<U>Purchaser</U>&rdquo;),
attached hereto as <U>Exhibit A</U>. Capitalized terms used but not defined herein shall have the meanings given to them in the Securities
Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This letter agreement (this &ldquo;<U>Letter Agreement</U>&rdquo;)
confirms our recent discussions about, among other matters, the Securities Purchase Agreement and that certain Registration Rights Agreement,
dated October 11, 2023 (the &ldquo;<U>Registration Rights Agreement</U>&rdquo;) between the Company and Purchaser, required to be delivered
pursuant to Section 2.3 of the Securities Purchase Agreement, attached hereto as <U>Exhibit B</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 31.5pt">1.</TD><TD STYLE="text-align: justify">Pursuant to Section 2.5(a) of the Securities Purchase Agreement, the Company hereby waives Purchaser&rsquo;s
obligation to fund the Subscription Amount in full, and the Company shall have no obligation to issue Preferred Stock to Purchaser.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 31.5pt">2.</TD><TD STYLE="text-align: justify">Pursuant to Section 2.5(b) of the Securities Purchase Agreement, the Company shall continue to have the
obligation to issue the full amount of the Standby Shares upon the close of the Initial Public Offering.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 31.5pt">3.</TD><TD STYLE="text-align: justify">The parties therefore agree to terminate each of their obligations solely with respect to the Preferred
Stock under the Securities Purchase Agreement and the Registration Rights Agreement, effective November 13, 2023.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Letter Agreement is limited as written. As
of the date first written above, each reference in the Securities Purchase Agreement or the Registration Rights Agreement to &ldquo;this
Agreement,&rdquo; &ldquo;hereunder,&rdquo; &ldquo;hereof,&rdquo; &ldquo;herein,&rdquo; or words of like import, shall refer to the Securities
Purchase Agreement and the Registration Rights Agreement, as applicable and as modified hereby, and this Letter Agreement and the Securities
Purchase Agreement shall be read together and construed as a single agreement and this Letter Agreement and the Registration Rights Agreement
shall be read together and construed as a single agreement. The execution, delivery and effectiveness of this Letter Agreement shall not,
except as expressly provided herein, (A) waive or modify any right, power or remedy under, or any other provision of the Securities Purchase
Agreement or the Registration Rights Agreement or (B) commit or otherwise obligate any party to enter into or consider entering into any
other amendment, waiver or modification of the Securities Purchase Agreement or Registration Rights Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All communications and notices hereunder shall
be given as provided in the Securities Purchase Agreement. This Letter Agreement (a) shall be governed by and construed in accordance
with the law of the State of New York, (b) is for the exclusive benefit of the parties hereto, and, together with the Securities Purchase
Agreement and the Registration Rights Agreement, as applicable, constitutes the entire agreement of such parties, superseding all prior
agreements among them, with respect to the subject matter hereof, (c) may be modified, waived or assigned only in writing and only to
the extent such modification, waiver or assignment would be permitted under the Securities Purchase Agreement (and any attempt to assign
this Letter Agreement without such writing shall be null and void), (d) is a negotiated document, entered into freely among the parties
upon advice of their own counsel, and it should not be construed against any of its drafters and (e) shall survive the satisfaction or
discharge of the amounts owing under the Securities Purchase Agreement. The fact that any term or provision of this Letter Agreement is
held invalid, illegal or unenforceable as to any person in any situation in any jurisdiction shall not affect the validity, enforceability
or legality of the remaining terms or provisions hereof or the validity, enforceability or legality of such offending term or provision
in any other situation or jurisdiction or as applied to any person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Kindly confirm your agreement with the above by
signing in the space indicated below and by PDFing a partially executed copy of this letter to the undersigned, and which may be executed
in identical counterparts, each of which shall be deemed an original but all of which shall constitute one and the same agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Kindly confirm your agreement with the above by
signing in the space indicated below and by PDFing a partially executed copy of this letter to the undersigned, and which may be executed
in identical counterparts, each of which shall be deemed an original but all of which shall constitute one and the same agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; font-size: 10pt">Very truly yours,</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; font-size: 10pt"><B>CHROMOCELL THERAPEUTICS CORPORATION</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 45%; border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/ Francis Knuettel II</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name: Francis Knuettel II</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Title: Interim CEO &amp; Chief Financial Officer</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">AGREED AND ACCEPTED:</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt"><B>DOMINION CAPITAL LLC</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 9%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 75%; border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/ Mikhail Gurevich </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name: Mikhail Gurevich</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.75pt; text-indent: -27.75pt">Title: Managing Member of Dominion
    Capital Holdings, LLC, the Manager of Dominion Capital, LLC</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Exhibit A</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Securities Purchase Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(see attached)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Exhibit B</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registration Rights Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(see attached)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.14
<SEQUENCE>12
<FILENAME>g083881_ex10-14.htm
<DESCRIPTION>EXHIBIT 10.14
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.14</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CERTAIN INFORMATION CONTAINED IN THIS DOCUMENT,
IDENTIFIED BY [***], HAS BEEN EXCLUDED FROM THIS DOCUMENT PURSUANT TO ITEM 601(B)(10)(IV) OF REGULATION S-K BECAUSE IT IS BOTH NOT MATERIAL
AND IS THE TYPE OF INFORMATION THAT CHROMOCELL THERAPEUTICS CORPORATION TREATS AS PRIVATE OR CONFIDENTIAL.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">DEVELOPMENT AND LICENSE AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BY AND BETWEEN</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BENUVIA OPERATIONS, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AND</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CHROMOCELL THERAPEUTICS CORP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 1 -->
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DEVELOPMENT AND LICENSE AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Development and License
Agreement, made as of December 23, 2023 (the &ldquo;Effective Date&rdquo;), is by and between Benuvia Operations, LLC, a Delaware limited
liability company, with principal offices located at 3950 N. Mays Street Round Rock, Texas 78665 (&ldquo;Benuvia&rdquo;) and Chromocell
Therapeutics Corporation, a Delaware corporation, with principal offices located at 685 US-1, North Brunswick Township, NJ 08902 (&ldquo;Chromocell&rdquo;).
Each of Benuvia and Chromocell may be referred to herein, individually, as a &ldquo;Party&rdquo;, and, collectively, as the &ldquo;Parties&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RECITALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, Benuvia is in the
business of developing, marketing and selling, pharmaceutical and therapeutic products;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, Chromocell is in
the business of developing, marketing and selling pharmaceutical and therapeutic products to alleviate pain; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, Chromocell desires
to acquire rights to develop Benuvia&rsquo;s technology relating to Diclofenac, Rizatriptan, and Ondansetron in the Territory (as defined
herein), and Benuvia is willing to grant such rights on the terms and conditions set forth in this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in consideration
of the foregoing and the mutual covenants contained in this Agreement, Benuvia and Chromocell, intending to be legally bound, hereby agree
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ARTICLE
I.</B></FONT><BR>
<B>DEFINITIONS AND EFFECTIVE DATE OF AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">1.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Definitions</U>. Capitalized terms used in this Agreement are set forth on Schedule I.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 13.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ARTICLE
II.</B></FONT><BR>
<B>ROLES AND RESPONSIBILITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 13.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Commercially Reasonable Efforts</U>. Subject to the terms and conditions of this Agreement, Chromocell shall use Commercially
Reasonable Efforts to develop, obtain and maintain Marketing Approval with respect to the manufacture and Commercialization of each Licensed
Product first in the United States and in such other countries and at such times throughout the Territory as are commercially reasonable,
optimal and viable throughout the Term of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Development Plan</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.2.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Within 180 days after the Effective Date, and for each Licensed Product, Chromocell shall prepare and deliver to Benuvia, for Benuvia&rsquo;s
review and reasonable approval, an initial written development plan which shall include the anticipated activities for the twelve (12)
month period following delivery of development plan to Benuvia (the &ldquo;Development Plan&rdquo;); Said Development Plan shall include
a general timeline for Regulatory Activities and projections for required clinical studies. The Parties shall have check in meetings approximately
every six (6) months during which Chromocell shall update Benuvia on its progress meeting development goals as set forth in each Development
Plan and advising on obstacles to successful development of each Licensed Product. Such meetings may be conducted by videoconference,
teleconference or in person. Chromocell shall update each Development Plan as provided in Section 2.6.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.2.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Chromocell shall commence development of each Licensed Product within eighteen (18) months of the Effective Date. If, in Benuvia&rsquo;s
reasonable judgment, Chromocell has not commenced meaningful Licensed Product development (&ldquo;meaningful&rdquo; includes, by way of
example, not limitation, having a FDA submitted protocol in place) for each Licensed Product within eighteen (18) months of the Effective
Date, or discontinues active Licensed Product development for a period in excess of ninety (90) days after beginning Licensed Product
development for each Licensed Product, as applicable, Chromocell must, within thirty (30) days after Benuvia&rsquo;s written request,
provide Benuvia with a revised Development Plan for the affected Licensed Product. Benuvia shall review the revised Development Plan and
if Benuvia&rsquo;s reasonable judgement Benuvia deems the revised Development Plan to be unsatisfactory, unworkable or the timeline(s)
unreasonably long for reasons that are the direct result of matters that are in Chromocell&rsquo;s reasonable control including Chromocell&rsquo;s
inaction or inattention but where said matters are not directly related to Benuvia&rsquo;s breach of this Agreement (&ldquo;Rejected Development
Plan&rdquo;) then Benuvia shall have the right, in its sole discretion, to terminate this Agreement in its entirety or on a Licensed Product
by Licensed Product basis, in accordance with Section 10.2.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Pre-Launch Activities</U>. Chromocell shall have sole responsibility, at its sole cost and expense, for all research, development
and Commercialization activities with respect to each Licensed Product, including, without limitation, Regulatory Activities, validation,
testing, stability, any required clinical trials or additional studies and preparing, filing and obtaining registration, approvals, including
pricing and reimbursement, permits, and Marketing Approval for the manufacture and Commercialization of each Licensed Product in the Territory.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding the foregoing, Benuvia shall be
Chromocell&rsquo;s sole provider of Development and Regulatory Services (as defined below) with respect to each Licensed Product, in consideration
of Chromocell&rsquo;s payment of the fees set forth in this paragraph. Benuvia shall provide said Development and Regulatory Services
to Chromocell at a rate that is <FONT STYLE="font-family: Times New Roman, Times, Serif">[***] </FONT>percent (<FONT STYLE="font-family: Times New Roman, Times, Serif">[***]</FONT>%)
lower than that provided to any other customer of Benuvia. For the avoidance of doubt, such rates offered by Benuvia to its other customers
shall be market rates generally offered in the pharmaceutical industry. Benuvia shall invoice Chromocell for the costs associated with
such Development and Regulatory Services on a monthly basis in arrears, and Chromocell shall pay all such invoices within thirty (30)
days of the date of invoice. As set forth in this Section, Development and Regulatory Services shall mean all areas where Benuvia has
regulatory and CMC capabilities and shall include stability testing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Should Benuvia be in breach of its obligations
to provide the Development and Regulatory Services to Chromocell for any Licensed Product, Chromocell shall have the right, notwithstanding
any language to the contrary in this Agreement, upon prior written notice to Benuvia to engage a Third Party to provide development and
regulatory services with respect to such Licensed Product.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Benuvia shall provide, at its sole cost and expense,
the regulatory documentation for the CMC portion of regulatory filings including stability documentation (but for clarity, stability testing
is at Chromocell&rsquo;s sole cost and expense), required drug-device information and the CMC components of any regulatory filings including
for the IND and NDA. The timeline for Benuvia&rsquo;s preparation of any CMC filings shall be negotiated and agreed to by the Parties
in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Regulatory Activities</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.4.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Responsibility</U>. Chromocell (or its Affiliates as determined by Chromocell) shall be responsible for the preparation and
filing and, subject to the terms of this Agreement, shall be the holder of Marketing Approvals for each Licensed Product within the Territory
and all meetings and communications with Regulatory Authorities in connection therewith, including labeling discussions and decisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.4.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Meetings with Regulatory Authorities</U>. Chromocell shall be responsible for all interactions with Regulatory Authorities regarding
each Licensed Product in the Territory. Benuvia shall have the right to appoint a representative to attend and participate in major planning
meetings occurring before or after any meetings with Regulatory Authorities. In order to have an opportunity to effectively participate
in the foregoing meetings, Benuvia shall be provided reasonably in advance with notice of the meetings with Regulatory Authorities and
the materials prepared for the meetings in sufficient time for Benuvia to review and comment on the materials prepared for the meetings
with Regulatory Authorities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.4.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Regulatory Documentation</U>. Prior to filing any Regulatory Documentation with a Regulatory Authority, but in no event fewer
than ten (10) Business Days prior to filing such Regulatory Documentation, Chromocell shall forward or otherwise make available to Benuvia
the relevant Regulatory Documentation and shall afford Benuvia the opportunity to review and comment on such Regulatory Documentation
(prior to the filing thereof), and Chromocell shall reasonably consider Benuvia&rsquo;s comments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.4.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Communications from Regulatory Authorities</U>. If either Party receives written or material oral communications from a Regulatory
Authority relating to any activities subject to the Agreement, the Party receiving such communication shall promptly notify the other
Party and provide a copy of any written communication and a summary of oral communications, as the case may be, as soon as reasonably
practicable and in no case later than three (3) Business Days thereafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Labeling; Promotion and Sale of Products</U>. Subject to applicable law, Chromocell (or its Affiliates or Chromocell Sublicensees,
as applicable) shall have sole responsibility for including any warning labels for each Licensed Product, packaging for each Licensed
Product and instructions as to the use of each Licensed Product. Chromocell shall promote each Licensed Product only accordance with applicable
law and consistent with the label uses set forth in this Section 2.5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Status Reports</U>. Chromocell shall provide Benuvia a written Development Plan and report for each Licensed Product at least
forty-five (45) days prior to each anniversary of the Effective Date of each year during the Term, describing in reasonable detail activities
undertaken by and on behalf of Chromocell (or its Affiliates or Chromocell Sublicensees, as applicable) in the research, development,
and Commercialization of each Licensed Product within the Territory, the results achieved since the last report and activities planned
for the subsequent twelve (12) month period. In addition, Chromocell shall respond within a reasonable time period, but not more than
thirty (30) days, to reasonable requests from Benuvia for additional information as to Chromocell&rsquo;s progress and results with respect
to such efforts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 22.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ARTICLE
III.</B></FONT><BR>
<B>SUPPLY AND SAFETY REPORTING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Manufacture and Supply</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to the provisions of this Section 3.1, Benuvia shall exclusively manufacture (or have manufactured) and exclusively supply
each Licensed Product in the Territory for clinical development and Commercialization to Chromocell, and Chromocell shall purchase each
Licensed Product exclusively from Benuvia, pursuant to a Manufacturing and Supply Agreement to be negotiated in good faith by the Parties
and entered into promptly after the Effective Date (the &ldquo;<U>Supply Agreement</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The initial sale price per unit for each Licensed Product payable by Chromocell to Benuvia pursuant to the Supply Agreement shall
be subject to good faith negotiations between the Parties; provided that the initial price for each Licensed Product and the price for
each Licensed Product during the Term in no event shall be less than Benuvia&rsquo;s Fully Burdened Cost of manufacturing the respective
Licensed Product plus a gross margin to Benuvia of [***] percent (<FONT STYLE="font-family: Times New Roman, Times, Serif">[***]</FONT>%).
The price for each Licensed Product shall be subject to an annual increase in amounts equal to the percentage change in the Producer Price
Index, Pharmaceutical Preparations as published by the U.S. Department of Labor, Bureau of Labor Statistics.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>After twelve (12) months following the First Commercial Sale of each respective Licensed Product in the Territory, and provided
that Chromocell is not in breach of this Agreement or the Supply Agreement, upon at least sixty (60) days&rsquo; prior written notice
to Benuvia, Chromocell shall have the right to offer the manufacture of each Licensed Product to Third Parties having expertise in the
industry with products similar to the respective Licensed Product, which Third Parties shall be reasonably acceptable to Benuvia, such
acceptance not to be unreasonably withheld or delayed; provided, however, that such Third Parties may not be direct competitors of Benuvia
unless Chromocell refrains from providing direct competitor Third Parties with Benuvia&rsquo;s Confidential Information without an agreement
in place approved by Benuvia, not to be unreasonably withheld or delayed, to protect said Confidential Information; provided, however,
that Chromocell shall only divulge such Confidential Information during the offer process, if any, that is strictly necessary for such
Third Party to prepare its proposal for the manufacture of said Licensed Product. In the event that the manufacturing price of a Licensed
Product at the same volume of production and substantially in conformance with other terms under the Supply Agreement is lower than the
price offered by Benuvia pursuant to the Supply Agreement by more than <FONT STYLE="font-family: Times New Roman, Times, Serif">[***]
</FONT>percent (<FONT STYLE="font-family: Times New Roman, Times, Serif">[***]</FONT>%) (the &ldquo;<U>Adjusted Price</U>&rdquo;), Chromocell
shall have the right to have such Third Party manufacture and supply said Licensed Product to Chromocell. In such event, the Parties and
such Third Party manufacturer shall enter into a mutually acceptable technology transfer or other suitable written agreement. The Parties
agree that Chromocell may not exercise the right under this Section 3.1.3 more than <FONT STYLE="font-family: Times New Roman, Times, Serif">[***]
</FONT>every year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding anything to the contrary contained in Section 3.1.3, Benuvia shall have a first right of refusal to match the Adjusted
Price offered by the Third Party with respect to any Licensed Product. Therefore, at such time Chromocell commences negotiations with
a Third Party related to the manufacture of any Licensed Product at the Adjusted Price, it shall notify Benuvia in writing of such circumstance
(the &ldquo;ROFR Notice&rdquo;) and Benuvia shall have a right of first refusal to manufacture and supply said Licensed Product at the
Adjusted Price and detailed in the ROFR Notice. Within thirty (30) business days after receipt of the ROFR Notice, Benuvia shall notify
Chromocell if Benuvia is interested in manufacturing and supplying said Licensed Product at the same conditions, taken as a whole, offered
to such Third Party and detailed in the ROFR Notice. In such case, Chromocell shall be bound to continue purchasing said Licensed Product
from Benuvia at the same conditions offered to such Third Party and detailed in the ROFR Notice, subject to the good faith negotiation
of an amendment to the Supply Agreement with respect to the Adjusted Price. If Benuvia elects not to exercise its right of first refusal
or fails to give notice of its intention within the 30-day period, Chromocell shall be free to enter into a manufacturing and supply agreement
with such Third Party for the manufacture and supply of said Licensed Product at the Adjusted Price and terms not more favorable to the
Third Party than those stated on the ROFR Notice. In the event Chromocell and such Third Party fail to enter an agreement within ninety
(90) days or agree on different terms, any agreement or intention to enter such agreement shall be considered as a new offer and therefore
again subject to Benuvia&rsquo;s right of first refusal set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Safety Reporting</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Responsibility</U>. Chromocell or its designee shall maintain a global adverse event database for each Licensed Product for
all jurisdictions in the Territory in which Chromocell (or its Affiliates or Chromocell Sublicensees, as applicable) is Commercializing
the Licensed Product and shall be responsible for compliance with all applicable laws relating to adverse event reporting, device failure
or patient injury (collectively, &ldquo;<U>Adverse Event</U>&rdquo;) and the conduct of clinical trials conducted by or on behalf of Chromocell
and reporting obligations relating thereto required by applicable laws worldwide and in the Territory (including annual safety reports,
periodic safety update reports and quarterly line listings). Chromocell shall maintain the adverse event database for each Licensed Product
in the Territory and shall be responsible for compliance with all applicable laws relating to Adverse Events and the conduct of clinical
trials and reporting obligations relating thereto required by applicable laws and in the Territory (including annual safety reports, periodic
safety update reports and quarterly line listings). Benuvia shall report to Chromocell promptly in writing, in order to permit Chromocell
to comply with its reporting obligations under applicable law, all Adverse Event reports occurring in the Territory with respect to any
Licensed Product of which Benuvia becomes aware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Safety Data Exchange Agreement</U>. Within six (6) months of the Effective Date, but in any event prior to commencement of Commercialization
of each respective Licensed Product by Chromocell, the Parties shall negotiate in good faith and finalize a separate Safety Data Exchange
Agreement (the &ldquo;<U>Safety Data Exchange Agreement</U>&rdquo;), the terms of which shall be consistent with the provisions of subsection
3.2.1 above, and which shall set forth the obligations, procedures and timelines for the exchange of information pertaining to the safety
reporting obligations, including Adverse Events observed in clinical trials. The Safety Data Exchange Agreement shall address the timing
of any communication responsibilities as between the Parties in order for each Party to meet its obligations to the appropriate Regulatory
Authority. Unless regulatory compliance requires more frequent exchange of safety data between the Parties, the Safety Data Exchange Agreement
shall provide for at least an annual exchange of such information between the Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Safety Oversight Working Group</U>. Within three (3) months of the Effective Date, or at such later time as the Parties may
mutually agree in writing, the Parties shall enter into a pharmacovigilance agreement for each Licensed Product in the Territory, if appropriate,
pursuant to which the Parties shall implement processes and procedures for sharing information as required for each Party&rsquo;s compliance
with its regulatory and pharmacovigilance responsibilities. Any agreed-upon procedures shall not be construed to restrict either Party&rsquo;s
ability to take action that it deems to be appropriate or required of it under the applicable regulatory requirements, but when permitted
by applicable laws and regulations, the Parties shall consult with each other before taking such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Costs</U>. Each Party shall bear its own costs and expenses incurred in connection with its activities under this Section 3.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Access</U>. Data in each global Adverse Event database shall be property of Chromocell; provided, however, that Benuvia shall
have access to all such data and all use of such data by each Party shall only be in accordance with applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 4.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ARTICLE
IV.</B></FONT><BR>
<B>LICENSE GRANT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 4.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>License Grant from Benuvia to Chromocell</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to the terms and conditions of this Agreement, Benuvia as of the Effective Date hereby grants to Chromocell an exclusive
(even as to Benuvia), worldwide, royalty-bearing, transferable in accordance with Section 12.5.1 (entitled Assignment Provisions) license
under Licensed Process Intellectual Property to research, develop, make or have made (subject to Section 3.1 entitled Manufacture and
Supply), use, import, market, offer for sale, and sell each Licensed Product in the Territory.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Retained Rights</U>. Except for the licenses expressly granted to Chromocell pursuant to this Agreement, Benuvia grants no other
rights or licenses, including any other rights or licenses under the Licensed Process Patent Rights and the Licensed Process Know-How,
or under any other Patent Rights, Know-How or other intellectual property rights of Benuvia, whether by implication, estoppel or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Sublicenses</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.2.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Sublicensing</U>. The rights granted to Chromocell by Benuvia under Section 4.1 may be extended by Chromocell to an Affiliate
and, subject to terms and conditions of this Agreement, may be sublicensed at any tier to a Chromocell Sublicensee. Chromocell shall,
within ten (10) Business Days after signature, provide Benuvia with a copy of each agreement with a Chromocell Sublicensee executed by
Chromocell or any of its Affiliates, which shall be treated as the Confidential Information of Chromocell; provided, however, that in
addition such copy may be subject to redaction as Chromocell reasonably believes is necessary to protect confidential and proprietary
information not required for Benuvia to confirm compliance with the terms and conditions of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.2.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Performance by Affiliates and Sublicensees</U>. Chromocell shall be responsible for performance by each Affiliate and Chromocell
Sublicensee of its obligations under this Agreement. Each sublicense granted by Chromocell pursuant to this Section 4.2 shall contain
terms and conditions consistent with this Agreement. Without limiting the foregoing, each sublicense agreement shall contain the following
provision: an automatic license to Chromocell, with the right to grant a further license to Benuvia pursuant to the terms and conditions
of this Agreement, to any Know-How and under any Patent Rights that shall fall under the definition of Chromocell Products Know-How or
Chromocell Product Patent Rights when Controlled by Chromocell.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>License Grant from Chromocell to Benuvia</U>. Solely upon (i) expiration of the Royalty Term for each applicable Licensed Product,
(ii) Benuvia&rsquo;s termination of this Agreement pursuant to Section 10.2 or (iii) Chromocell&rsquo;s termination of this Agreement
pursuant to Section 10.4, and as to (i), (ii) and (iii) otherwise subject to the terms and conditions of this Agreement, and provided
that Benuvia is not in breach of this Agreement, Chromocell hereby grants to Benuvia and its Affiliates a royalty-free (except as set
forth in Section 10.4.2), perpetual, fully paid-up, transferable in accordance with Section 12.5 (entitled Assignment Provisions), worldwide,
nonexclusive, sublicensable at any tier, license under Chromocell Product Know-How and Chromocell Product Patent Rights that is necessary
or materially useful to research, develop, make, have made, import, use, offer for sale and sell each applicable Licensed Product; provided,
however, that such license grant shall not include (i) any intellectual property rights generated by or on behalf of Chromocell which
is not directly related to the research, development, manufacture or use of each applicable Licensed Product, and/or (ii) any intellectual
property rights relating to Chromocell&rsquo;s existing products, existing development candidates, future products or future product candidates
other than the Licensed Products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Chromocell shall not assign, transfer or grant
any rights, title or interest to any Third Party to any Know-How or Patent Rights related to any Licensed Product to the extent said grant
of such rights would prevent the grant of rights from Chromocell to Benuvia under this Section 4.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Retained Rights. Except for the licenses expressly
granted to Benuvia pursuant to this Agreement, Chromocell grants no other rights or licenses to Patent Rights, Know-How or other intellectual
property rights of Chromocell, whether by implication, estoppel or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Exclusivity</U>. During the period commencing on the Effective Date and ending with the Term of this Agreement, neither Chromocell
nor any of its Affiliates or their respective Chromocell Sublicensees shall market, promote, offer for sale, manufacture, distribute or
sell any Diclofenac Product, any Rizatriptan Product, or any Ondansetron Product that is not a Licensed Product without prior discussion
and consultation, with and consent of, Benuvia, not to be unreasonably withheld or delayed. In the event Chromocell obtains Benuvia&rsquo;s
consent as set forth in the preceding sentence and Chromocell then elects to market, promote, offer for sale, manufacture, distribute
or sell any Diclofenac Product, Rizatriptan Product, or Ondansetron Product that is not a Licensed Product, such product shall be treated
as a Licensed Product for the purpose of determining royalties payable by Chromocell under Section 5.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the period commencing on the Effective
Date and ending with the Term of this Agreement, neither Benuvia nor any of its Affiliates or their respective Benuvia Sublicensees shall
market, promote, offer for sale, manufacture, distribute or sell any sublingual or intranasal dosage form of each of Diclofenac Product,
Rizatriptan Product, Ondansetron Product, or NSAID product without prior discussion and consultation with and consent of Chromocell not
to be unreasonably withheld or delayed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Assignment of IND</U>. Benuvia hereby transfers and assigns to Chromocell Benuvia&rsquo;s entire right, title and interest in
and to all INDs in Benuvia&rsquo;s Control with respect to all Licensed Products. Within thirty (30) days of the Effective Date, Benuvia
shall submit one or more letters to the FDA as required by the FDA to effect the foregoing assignment, substantially in the form of Exhibit
A. and Chromocell shall promptly submit to the FDA the letter(s) and forms required by the FDA to complete the assignment of the IND.
The Parties shall continue to cooperate with respect to the documentation required by the FDA to complete the assignment with time being
of the essence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 4.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ARTICLE
V.</B></FONT><BR>
<B>FINANCIAL PROVISIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 4.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>License Fee</U>. Simultaneously with the execution and delivery of this Agreement, and subject to Benuvia granting license rights
to Chromocell as set forth under the terms and conditions of this Agreement, Chromocell shall issue to Benuvia the following issuance:
3,458,033 shares of <U>Chromocell&rsquo;s</U> common stock, par value $0.0001, which shall be subject to any future reverse stock split
or similar transaction of Chromocell&rsquo;s common stock (the &ldquo;<U>License Fee</U>&rdquo;). The Parties shall negotiate in good
faith and enter into a Stock Issuance Agreement memorializing the License Fee, substantially in the form of <U>Exhibit B</U> attached
hereto (the &ldquo;<U>Stock Issuance Agreement</U>&rdquo;). Notwithstanding any language to the contrary in this Agreement or the Stock
Issuance Agreement, the License Fee is non-refundable and non-creditable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Royalty Payments by Chromocell</U>. Chromocell shall pay Benuvia royalties on Net Sales for each Licensed Product in the Territory,
calculated at the royalty rate of 6.5%. Net Sales shall include sales by Chromocell&rsquo;s Affiliates and Sublicensees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Royalty Term</U>. Royalties under Section 5.2 shall be payable on a country-by-country basis in the Territory during the period
commencing on the First Commercial Sale of a Licensed Product in any country in the Territory and ending upon the later to occur of (a)
the date of expiration of the last Valid Claim of an issued patent within Benuvia Patent Rights Covering the respective Licensed Product
in the country of sale or country of manufacture; or (b) fifteen (15) years from the date of First Commercial Sale of the respective Licensed
Product under this Agreement in any country (the &ldquo;<U>Royalty Term</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payments; Reports</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.4.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Chromocell shall pay to Benuvia all royalties due on Net Sales received in a calendar quarter within forty-five (45) days of the
end of such calendar quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.4.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Commencing with the First Commercial Sale and thereafter during the Term, Chromocell shall furnish to Benuvia written reports (hereinafter
the &ldquo;<U>Quarterly Financial Report</U>&rdquo;), within forty-five (45) days following the end of each calendar quarter, whether
or not royalties or other payments are due, stating either that no royalties or other payments are due or showing: (i) the Net Sales in
each country in the Territory in local currency during the relevant calendar quarter and Net Sales in United States dollars (USD) translated
from local currency using the applicable currency rate prior to calculating the royalty payable in accordance with Section 5.6; (ii) gross
amount invoiced on sales of each Licensed Product used to calculate Net Sales and a complete and detailed accounting of all deductions
under the Net Sales definition by category; and (iii) the royalties which shall have accrued hereunder in respect to Net Sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.4.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Chromocell shall pay all amounts due under this Agreement in United States dollars (USD) to such account(s) to which Benuvia provides
written notice to Chromocell.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Taxes</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.5.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Chromocell shall make all payments to Benuvia under this Agreement without deduction or withholding for taxes except to the extent
that any such deduction or withholding is required on behalf of Benuvia by law in effect at the time of payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.5.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any tax required to be withheld on amounts payable under this Agreement on behalf of Benuvia shall promptly be paid by Chromocell
on behalf of Benuvia to the appropriate governmental authority, and Chromocell shall furnish Benuvia with proof of payment of such tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.5.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Chromocell and Benuvia shall cooperate with respect to all documentation required by any taxing authority or reasonably requested
by Chromocell to secure a reduction in the rate of applicable withholding taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Currency Exchange</U>. With respect to sales of any Licensed Product sold in a currency other than U.S. dollars, such amounts
shall be expressed in the U.S. dollar equivalent calculated by applying the currency conversion as published in <I>The Wall Street Journal
</I>first New York edition on the last Business Day of the relevant calendar quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Late Payments</U>. Chromocell shall pay interest to Benuvia on the aggregate amount of any invoices that are not paid and not
the subject of a good faith dispute on or before the date such payments are due under this Agreement at a rate equal to the lesser of
the maximum permitted by applicable law or one and one-half percent (1.5%) per month, calculated based on the number of days such payments
are paid after the date such payments are due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Records and Audits</U>. Chromocell shall keep, and shall require its Affiliates and the Chromocell Sublicensees to keep, complete
and accurate records relating to the calculations of Net Sales for the then current calendar year, and during the preceding three (3)
calendar years. Benuvia shall have the right, once annually, to have an independent, certified public accounting firm reasonable acceptable
to Chromocell review any such records of Chromocell its Affiliates and Chromocell Sublicensees (the &ldquo;<U>Audited Party</U>&rdquo;)
upon reasonable written notice, but not less than thirty (30) days&rsquo; notice, and during regular business hours and under obligations
of confidentiality (including with respect to the independent, certified public accounting firm), for the sole purpose of verifying the
basis and accuracy of payments made and deductions taken under Article V of this Agreement. Benuvia shall promptly provide Chromocell
a copy of any audit report generated pursuant to this Section. In the event such inspection leads to the discovery of a discrepancy to
Benuvia&rsquo;s detriment, Chromocell shall, within thirty (30) days after receipt of the report from the accounting firm, pay the amount
of the discrepancy, plus interest on the underpayment in accordance with Section 5.7. Benuvia shall pay the full reasonable cost of the
review unless the underpayment of amounts due to Benuvia is greater than five percent) of the amount due for any calendar year being examined,
in which case Chromocell shall pay the reasonable cost charged by such accounting firm for such review. Any overpayment of royalties by
Chromocell revealed by an examination shall be credited against future royalties due on Net Sales under this Agreement. In the event of
any dispute between the Parties regarding the results of such audit, the independent certified public accountants of Chromocell and Benuvia
shall select a third independent certified public accountant to resolve such dispute. The costs of the third independent certified public
accountant shall be borne equally by each Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 4.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ARTICLE
VI.</B></FONT><B><BR>
INTELLECTUAL PROPERTY OWNERSHIP, PROTECTION<BR>
AND RELATED MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 4.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Inventorship</U>. All Improvements, whether or not reduced to practice, Know-How and other forms of intellectual property rights
arising from or relating to a Party&rsquo;s activities under this Agreement, including, but not limited to activities conducted by or
on behalf of such Party, its Affiliates or Sublicensees, and any Patent Rights claiming such Improvements that arise from such activities
after the Effective Date, shall be owned by such Party; provided, that in the case of any such inventions, Know-How and other forms of
intellectual property rights generated by or on behalf of the Parties jointly (including by their respective Affiliates or sublicensees
on their behalf), shall be owned by the Parties jointly, in each case, subject to the rights and licenses granted hereunder (as applicable)
and thus subject to the royalty payments set forth in Section 5.2 and Section 10.4.2. Inventorship for patentable inventions conceived
during the performance of activities pursuant to this Agreement shall be determined in accordance with United States patent laws for determining
inventorship.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Ownership</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.2.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>General</U>. Subject to the licenses and rights granted to Chromocell under this Agreement, as between the Parties, Benuvia
shall own the entire right, title and interest in and to any and all Licensed Process Intellectual Property. Subject to the license rights
granted to Benuvia under this Agreement, as between the Parties, Chromocell shall own the entire right, title and interest in and to any
and all Chromocell Product Know-How and Chromocell Product Patent Rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.2.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Inventor Assignment Agreements</U>. Starting on the Effective Date and thereafter, Benuvia shall use reasonable efforts to obtain
invention assignment agreements (&ldquo;Invention Assignment Agreements&rdquo;) from all inventors to the Licensed Patents (each, an &ldquo;Inventor&rdquo;).
Promptly after Benuvia&rsquo;s receipt of each said Invention Assignment Agreement signed by each applicable Inventor, Benuvia shall file
and record each said Invention Assignment Agreement with the United States Patent and Trademark Office at its sole cost and expense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Prosecution and Maintenance of Patent Rights</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.3.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Licensed Process Intellectual Property</U>. Chromocell shall, at Chromocell&rsquo;s expense and at Chromocell&rsquo;s discretion,
file, conduct prosecution, and maintain (including the prosecution or defense of any interference or opposition proceedings) all Licensed
Process Patent Rights, that are not expired or abandoned, in Benuvia&rsquo;s name and Benuvia shall cooperate with Chromocell, at Benuvia&rsquo;s
sole cost and expense, as reasonably requested by Chromocell relating thereto; provided, however, that Chromocell at its sole discretion
may attempt, but shall have no obligation, unless the Parties otherwise agree in writing, to revive any Licensed Patent expired or abandoned
as of the Effective Date. Chromocell shall provide Benuvia copies of all substantive prosecution papers related to Licensed Process Patent
Rights with claims Covering any Licensed Product with respect to uses sent to or received from patent offices in the Territory. With respect
to such patent applications containing material not previously filed that is intended to be filed in patent offices in the Territory,
Chromocell shall use reasonable efforts to provide Benuvia with a draft of each such filing reasonably in advance of submission and shall
consider in good faith any comments regarding such draft application that Benuvia may timely provide.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Third Party Infringement</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.4.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notices</U>. Each Party shall promptly report in writing to the other Party any (i) known or suspected infringement of any Licensed
Process Patent Rights, <U>Chromocell Product Know-How or Chromocell Product Patent Rights</U> or (ii) unauthorized use or misappropriation
of any Licensed Process Know-How by a Third Party, of which such Party becomes aware, relating to any Licensed Product within the Territory,
and shall provide the other Party with all available information in its possession evidencing such infringement, or unauthorized use or
misappropriation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.4.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Infringement</U>. In the event either Party becomes aware that a Third Party may be offering a Licensed Product or may be otherwise
infringing Licensed Process Intellectual Property, Chromocell shall have the right, but not the obligation, to initiate a lawsuit or take
other appropriate action at its sole cost and expense that it believes is reasonably required to prevent or abate actual or threatened
infringement, or otherwise protect or enforce, Licensed Process Intellectual Property. In the event Chromocell does not commence a lawsuit
or other appropriate action, Benuvia shall have the option but not the obligation to assume control and initiate a lawsuit or take other
appropriate action at its sole cost and expense that it believes is reasonably required to prevent or abate actual or threatened infringement,
or otherwise protect or enforce, Licensed Process Intellectual Property. The Parties shall reasonably cooperate with respect to any action
or settlement. Any damages awarded or settlement amounts obtained against such Third Party shall first be utilized to reimburse the Parties
their respective costs and expenses, including, without limitation, reasonable attorneys&rsquo; fees, incurred in prosecuting such action,
and thereafter any remaining amounts shall be payable to Chromocell and included in Net Sales for purposes of Section 5.2. Further, each
Party agrees that it shall join such suit at its sole cost and expense if the relevant court would lack jurisdiction if such Party or
its Affiliates or Sublicensees were absent from such suit, and each Party and its Affiliates and Sublicensees shall execute such legal
papers and cooperate in the prosecution or defense of such suit as may be reasonably requested by the other Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.4.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Conduct of Certain Actions</U>. The Party initiating litigation under this Section 6.4 shall have the sole and exclusive right
to select counsel for any litigation initiated by it pursuant to this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Third Party Infringement Claims</U>. If a Party becomes aware of any Third Party claim that the development, manufacture or
Commercialization of a Licensed Product infringes the Patent Rights of any Third Party in the Territory (collectively, a &ldquo;Third
Party Infringement Claim&rdquo;), such Party shall promptly notify the other Party in writing. Chromocell shall have the right, within
thirty (30) days after receiving written notice of a Third Party Infringement Claim, to assume the defense thereof, as well as the right
to take other appropriate action that it believes is reasonably required to defend any such actual or threatened claim of infringement;
provided that any counterclaims shall be handled in accordance with the enforcement provision of Section 6.4.2; and provided, further,
(a) that Benuvia and its counsel (at the sole cost and expense of Benuvia) may participate in (but not control the conduct of) the defense
of such Third Party Infringement Claim; and (b) that no settlement of any such Third Party Infringement Claim shall be entered into unless
Benuvia shall have consented to such settlement in writing (which consent shall not be unreasonably withheld, conditioned or delayed).
If Chromocell assumes the defense of a Third Party Infringement Claim, Chromocell shall (w) conduct the defense of the Third Party Infringement
Claim in good faith, (x) have the right to appoint lead counsel in the defense of any such lawsuit and to control the litigation, (y)
be responsible for all legal fees and costs in such litigation (other than Benuvia&rsquo;s counsel and other legal fees incurred by Benuvia),
and (z) be responsible for any and all financial compensation for damages awarded therein subject to indemnification obligations by Benuvia
of Chromocell if and to the extent that any Third Party Infringement Claim is upheld based on actions of Benuvia. In order for Benuvia
to have an opportunity to effectively participate in the defense of the Third Party Infringement Claim, Chromocell shall (1) ensure that
its counsel, upon reasonable request by Benuvia in writing, provides Benuvia or its counsel promptly with copies of requested pleadings
and written claims, demands, notices or other documents obtained in connection with such lawsuit, as permitted by law or otherwise and
(2) consider in good faith the recommendations made by Benuvia. Benuvia agrees that it shall join such suit if the relevant court would
lack jurisdiction if Benuvia was absent from such suit, and Benuvia shall execute such legal papers and cooperate, at Chromocell&rsquo;s
expense, in the defense of such suit as may be reasonably requested by Chromocell.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If Chromocell does not assume
the defense of the Third Party Infringement Claim as set forth in this Section 6.5, Benuvia shall (A) have the right but not the obligation
to appoint lead counsel in the defense of any such lawsuit and to control the litigation, (B) be responsible for all legal fees and costs
in such litigation (other than Chromocell&rsquo;s counsel), and (C) be responsible for any and all financial compensation for damages
awarded therein subject to indemnification obligations by Chromocell of Benuvia if and to the extent that any Third Party Infringement
Claim is upheld based on actions of Chromocell. Chromocell agrees that it shall join such suit if the relevant court would lack jurisdiction
if Chromocell, its Affiliates and/or Chromocell Sublicensees was absent from such suit, and Chromocell, its Affiliates and/or Chromocell
Sublicensees shall execute such legal papers and cooperate, at Benuvia&rsquo;s expense, in the defense of such suit as may be reasonably
required by Benuvia. For the avoidance of doubt, if Benuvia assumes the defense of a Third Party Infringement Claim, Chromocell and its
counsel (at the sole expense of Chromocell) may participate in (but not control the conduct of) the defense of such Third Party Infringement
Claim. In any case, no settlement of any such Third Party Infringement Claim shall be entered into unless Benuvia first consults with
and solicits input in writing from Chromocell regarding the terms of any such settlement and obtains Chromocell&rsquo;s consent to such
settlement, such consent not to be unreasonably withheld, conditioned or delayed. Further, Benuvia shall (1) ensure that its counsel,
upon reasonable request by Chromocell in writing, provides Chromocell or its counsel promptly with copies of requested pleadings and written
claims, demands, notices or other documents obtained in connection with such lawsuit, as permitted by law or otherwise and (2) consider
in good faith the recommendations made by Chromocell.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Cooperation</U>. In any infringement suit that either Party may institute to enforce the Patent Rights in the Territory, or
in a suit for patent infringement that is brought by a Third Party against Chromocell or Benuvia in connection with the Licensed Product
in the Territory, that either Party or both Parties are required or elect to defend, the other Party shall, at the reasonable request
and expense of the Party initiating or defending such suit, cooperate in all reasonable respects and, to the extent reasonably possible,
have its employees testify when requested and make available relevant records, papers, information, samples, specimens, and the like.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 4.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ARTICLE
VII.</B></FONT><BR>
<B>CONFIDENTIALITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 4.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Confidential Information</U>. During the Term and for a period of seven (7) years after any termination or expiration of this
Agreement, each Party (the &ldquo;<U>Receiving Party</U>&rdquo;) agrees to keep in confidence and not to disclose to any Third Party,
or use for any purpose except, in each case, pursuant to, and in order to carry out, the terms and objectives of this Agreement (which
includes activities contemplated by the licenses granted in Article IV) or as otherwise specifically permitted under this Agreement, any
Confidential Information of the other Party (the &ldquo;<U>Disclosing Party</U>&rdquo;); provided, however, if this Agreement is terminated
prior to the expiration of the Term, the Know-How of a Party shall, except as provided in the third sentence of this paragraph, remain
confidential indefinitely. The terms of this Agreement shall be considered Confidential Information of both Parties, subject to permitted
disclosures as set forth in this Article VII. The restrictions on the disclosure and use by the Receiving Party of Confidential Information
of the Disclosing Party set forth in the first sentence of this Section 7.1 shall not apply to any Confidential Information of the Disclosing
Party that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>was known by the Receiving Party prior to disclosure by the Disclosing Party (as evidenced by the Receiving Party&rsquo;s written
records or other competent evidence);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>is or becomes publicly known in the industry through no fault of the Receiving Party, its Affiliates, Sublicensees, or agents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>is disclosed to the Receiving Party by a Third Party, to the best of Receiving Party&rsquo;s knowledge, having a legal right to
make such disclosure without violating any confidentiality or non-use obligation that such Third Party has to the Disclosing Party and
provided such Third Party is not disclosing such information on behalf of the Disclosing Party; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>is independently developed by personnel of the Receiving Party who did not have access to the Confidential Information (as evidenced
by the Receiving Party&rsquo;s written records or other competent evidence) and other than in connection with activities under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, if either Party
is required to disclose Confidential Information of the other Party by regulation, law or legal process, including by the rules or regulations
of the United States Securities and Exchange Commission or similar regulatory agency in any country or of any stock exchange or Nasdaq,
such Party shall provide at least three (3) Business Days prior written notice, along with a copy of such intended disclosure, to such
other Party, shall consider in good faith the other Party&rsquo;s comments, shall disclose only such Confidential Information of such
other Party as is required to be disclosed and shall cooperate in the Disclosing Party&rsquo;s efforts to obtain a protective order or
to limit the scope of the required disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Permitted Disclosures</U>. Each Party agrees that it and its Affiliates shall provide or permit access to Confidential Information
received from the other Party and such Party&rsquo;s Affiliates and representatives only to the Receiving Party&rsquo;s employees, consultants,
advisors, lawyers, and bona fide potential acquirors and potential investors, and to service providers, investigators, and Third Party
contractors (collectively &ldquo;Representatives&rdquo;), in each case who are subject to written contractual obligations of confidentiality
and non-use that would apply to such Confidential Information and are at least as stringent as the obligations applicable to the Receiving
Party under this Agreement. Benuvia and Chromocell shall each remain responsible for any failure by its Affiliates, and its and its Affiliates&rsquo;
respective Representatives, to treat such Confidential Information as required under Section 7.1 (as if such Representatives were Parties
directly bound to the requirements of Section 7.1). Each Party may also disclose Confidential Information of the other Party to Regulatory
Authorities and other governmental authorities, but solely in connection with the activities contemplated by this Agreement or in connection
with the licenses granted under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Publicity</U>. Neither Party shall issue a press release or public announcement relating to the terms of this Agreement without
the prior written approval of the other Party, which approval shall not be unreasonably withheld, delayed or conditioned, except that
(a) Benuvia and Chromocell may issue a joint press release on mutual written agreement of both Parties; (b) a Party may issue such press
release or public announcement if the contents of such press release or public announcement are consistent with a previously approved
press release or have otherwise previously been made public other than through a breach of this Agreement; and (c) provided that the Party
complies with the notice and review provisions set forth in this Section, such Party may issue such a press release or public announcement
if required by applicable law, including by the rules or regulations of the United States Securities and Exchange Commission or similar
regulatory agency in a country other than the United States or of any stock exchange or Nasdaq. During the Term of this Agreement, in
the event Benuvia or Chromocell is required by applicable law to publicly disclose any of the results generated by Chromocell or any of
its Affiliates or Chromocell Sublicensees information provided by Benuvia or Chromocell related to the Licensed Product, or either Party
is required by applicable law to disclose the terms of this Agreement, such Party shall give the other Party at least three (3) Business
Days&rsquo; prior written notice, shall provide to such other Party a copy of the required disclosure, shall, if requested by such other
Party, to the extent permitted by applicable law, request confidential treatment of any financial and other materials terms of this Agreement
not previously disclosed under this Section, and shall consider in good faith any other comments of such other Party on such public disclosure.
In any press releases or other public disclosure related to a Licensed Product, Chromocell shall reference Benuvia&rsquo;s role as licensor
of the Licensed Process Know-How and Licensed Process Patent Rights licensed under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Return of Confidential Information</U>. Upon termination of this Agreement , the Receiving Party shall, at the request of, and
as directed by, the Disclosing Party, return or destroy Confidential Information of the Disclosing Party in the Receiving Party&rsquo;s
or any of its Affiliate&rsquo;s or Sublicensee&rsquo;s possession, and shall destroy any reports or notes in Receiving Party&rsquo;s possession
to the extent containing the Disclosing Party&rsquo;s Confidential Information, and any electronic copies of any of the foregoing, and
certify such return or destruction by a company officer, provided that (a) the Receiving Party may retain one copy of Confidential Information
of the Disclosing Party for archival purposes; and (b) neither Party shall be required to return or destroy copies of the other Party&rsquo;s
Confidential Information stored on automatically created system back-up media.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 4.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ARTICLE
VIII.</B></FONT><BR>
<B>REPRESENTATIONS AND WARRANTIES; CERTAIN COVENANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 4.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Mutual Representations</U>. Each Party hereby represents and warrants to the other Party, as of the Effective Date, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>It is duly organized and validly existing under the laws of its jurisdiction of formation and has the corporate or limited liability
company power and authority to execute and deliver this Agreement and to perform its obligations hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The execution, delivery and performance of this Agreement by such Party has been duly and validly authorized and approved by proper
corporate action on the part of such Party. Such Party has taken all other action required by applicable law, its certificate of incorporation
or by-laws or any agreement to which it is a party or by which it or its assets are bound, to authorize such execution, delivery and performance.
Assuming due authorization, execution and delivery on the part of the other Party, this Agreement constitutes a legal, valid and binding
obligation of such Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The execution and delivery of this Agreement, and the performance as contemplated hereunder, by such Party shall not violate any
applicable law or any agreement by which such Party is bound.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the execution and delivery of this Agreement nor the performance hereof by such Party requires such Party to obtain any
permit, authorization or consent from any governmental authority (except for any Marketing Approvals, pricing or reimbursement approvals,
manufacturing-related approvals or similar approvals necessary for development, manufacture or Commercialization of any Licensed Product)
or from any Third-Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither such Party nor any of its Affiliates has been debarred or is subject to debarment, and such Party has not used in any capacity
in connection with the development or manufacture of the Licensed Product or other products prior to the Effective Date, any person or
entity who has been debarred pursuant to Section 306 of the United States Federal Food, Drug, and Cosmetic Act, or who is the subject
of a conviction described in such section. Further, during the Term each Party shall immediately notify the other if such Party (or in
the case of Chromocell) or any employee of such Party has been debarred or is threatened with debarment. In that case, the Party who is
not subject to such debarment may terminate this Agreement effective on ten (10) days&rsquo; notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Benuvia&rsquo;s Representations and Warranties</U>. Benuvia hereby makes the following representations and warranties to Chromocell
as of the Effective Date:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Benuvia has not received any written notice of or has actual knowledge of any threatened or actual claim that any Patent, Know-How
or trade secret owned or controlled by a Third Party would be infringed or misappropriated by the manufacture, use, sale, offer for sale
or importation of any Licensed Product in the Territory, including the Rizatriptan Licensed Product if and when Chromocell revives any
Licensed Patent Covering the Rizatriptan Licensed Product.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>None of the Licensed Process Patent Rights owned or controlled are the subject of, nor does Benuvia have actual knowledge of, any
pending or proposed re-examination, opposition, interference or litigation proceedings in the Territory.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except with respect to the missing Invention Assignment Agreements from certain Inventors to the Licensed Patents, and except with
respect to the expired or abandoned Licensed Patents with respect to Rizatriptan, Benuvia has the right to grant the licenses set forth
in Section 4.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Exhibit C</U> provides a true, complete and correct list as of the Effective Date of all (i) Patent Rights included within the
Licensed Process Patent Rights in the Territory, and (ii) applications for Patents Rights included within the Licensed Process Patent
Rights in the Territory.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Compliance with Law</U>. Each Party shall comply with all applicable laws and regulations in its performance of this Agreement,
including, in the case of Chromocell, in the development, manufacture, Commercialization, Medical Affairs and use of any Licensed Product.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Warranty</U>. EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT, NEITHER PARTY HERETO MAKES ANY REPRESENTATIONS AND
NEITHER PARTY EXTENDS ANY WARRANTIES OF ANY KIND, EITHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, WITH RESPECT TO THE SUBJECT MATTER
OF THIS AGREEMENT (INCLUDING EACH LICENSED PRODUCT, LICENSED PROCESSED INTELLECTUAL PROPERTY, CHROMOCELL PRODUCT PATENT RIGHTS, OR CHROMOCELL
PRODUCT KNOW-HOW), INCLUDING ANY WARRANTY OF MERCHANTABILITY, NON-INFRINGEMENT, OR FITNESS FOR A PARTICULAR PURPOSE. EXCEPT AS OTHERWISE
EXPRESSLY PROVIDED IN THIS AGREEMENT, NEITHER PARTY MAKES ANY WARRANTY OR REPRESENTATION AS TO THE VALIDITY OR SCOPE OF THE LICENSED PROCESS
PATENT RIGHTS OR LICENSED PROCESS KNOW HOW, CHROMOCELL PRODUCT PATENT RIGHTS, OR CHROMOCELL PRODUCT KNOW-HOW, OR THAT ANY LICENSED PRODUCT
SHALL BE FREE FROM ANY INFRINGEMENT OF PATENTS OR OTHER INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES, OR THAT NO THIRD PARTIES ARE IN
ANY WAY INFRINGING OR NOT INFRINGING THE LICENSED PROCESS PATENT RIGHTS OR LICENSED PROCESS KNOW-HOW COVERED BY THIS AGREEMENT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 4.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ARTICLE
IX.<FONT STYLE="font-size: 10pt; text-transform: uppercase"><BR>
</FONT></B></FONT><B>INDEMNIFICATION; LIMITATION OF LIABILITY; INSURANCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 4.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Indemnification by Chromocell</U>. Chromocell shall indemnify, hold harmless, and defend Benuvia, its Affiliates, and Benuvia
Sublicensees, and their respective directors, officers, employees and agents (the &ldquo;<U>Benuvia Indemnitees</U>&rdquo;) from and against
any and all damages, liabilities, costs, expenses and amounts paid in settlement (collectively, &ldquo;<U>Losses</U>&rdquo;) incurred
in connection with any Third Party claim arising out of or resulting from, directly or indirectly, (a) any breach of, or inaccuracy in,
any representation or warranty made by Chromocell in this Agreement, or any breach or violation of any material term of this Agreement
by Chromocell; (b) the negligence or willful misconduct of Chromocell, its Affiliates, Chromocell Sublicensees, and their respective directors,
officers, and employees in connection with activities undertaken pursuant to this Agreement; and (c) the research, development, Medical
Affairs, Commercialization, or use of any Licensed Product by Chromocell and its Affiliates and Chromocell Sublicensees under this Agreement,
including with respect to any Third Party Infringement Claim resulting from the activities of Chromocell that are not within the scope
of activities allowed under the licensed granted by Benuvia in this Agreement. Notwithstanding the foregoing or anything in this Agreement
to the contrary, Chromocell shall have no obligation to indemnify the Benuvia Indemnitees to the extent that the Losses arise out of or
result from any breach of any representation or warranty made by Benuvia in this Agreement, any breach or violation of any term of this
Agreement by Benuvia, the negligence or willful misconduct of any of the Benuvia Indemnitees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Indemnification by Benuvia</U>. Benuvia shall indemnify, hold harmless, and defend Chromocell, its Affiliates and Chromocell
Sublicensees and their respective directors, officers, employees and agents (the &ldquo;<U>Chromocell Indemnitees</U>&rdquo;) from and
against any and all Losses incurred in connection with any Third Party claim arising out of or resulting from, directly or indirectly,
(a) any breach of, or inaccuracy in, any representation or warranty made by Benuvia in this Agreement, or any breach or violation of any
material term of this Agreement by Benuvia; (b) the negligence or willful misconduct of Benuvia, its Affiliates, Benuvia Sublicensees
and its and their respective directors, officers and employees in connection with activities undertaken pursuant to this Agreement; and
(c) with respect to any Third Party Infringement Claim resulting from the activities of Benuvia that are not within the scope of activities
allowed under the license granted by Chromocell under Section 4.3 of this Agreement. Notwithstanding the foregoing, or anything in this
Agreement to the contrary, Benuvia shall have no obligation to indemnify the Chromocell Indemnitees to the extent that the Losses arise
out of or result from any breach of any representation or warranty made by Chromocell in this Agreement, any breach or violation of any
term of this Agreement by Chromocell, the negligence or willful misconduct of any of the Chromocell Indemnitees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Indemnification Procedure</U>. In the event of any such claim against any Chromocell Indemnitee or Benuvia Indemnitee (individually,
an &ldquo;<U>Indemnitee</U>&rdquo;), the indemnified Party shall promptly notify the other Party in writing of the claim and the indemnifying
Party shall manage and control, at its sole expense, the defense of the claim and its settlement. The indemnified Party shall cooperate
with the indemnifying Party and may, at the indemnified Party&rsquo;s option and expense, be represented in any such action or proceeding.
The indemnifying Party shall not be liable for any settlements entered into by any Indemnitee without the indemnifying Party&rsquo;s prior
written authorization.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Limitation of Liability</U>. NEITHER PARTY HERETO SHALL BE LIABLE FOR SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES
ARISING OUT OF THIS AGREEMENT OR THE EXERCISE OF ITS RIGHTS HEREUNDER, INCLUDING LOST PROFITS ARISING FROM OR RELATING TO ANY BREACH OF
THIS AGREEMENT, REGARDLESS OF ANY NOTICE OF SUCH DAMAGES OR IF SUCH DAMAGES ARE FORESEEABLE, EXCEPT WITH RESPECT TO A PARTY&rsquo;S INDEMNICATION
OBLIGATIONS FOR THIRD PARTY CLAIMS UNDER ARTICLE IX OR AS A RESULT OF A PARTY&rsquo;S WILLFUL MISCONDUCT, OR WILLFUL BREACH OF LICENSE
RESTRICTIONS, OR BREACH OF ARTICLE VII (CONFIDENTIALITY). NOTHING IN THIS SECTION 9.4 IS INTENDED TO LIMIT OR RESTRICT THE INDEMNIFICATION
RIGHTS OR OBLIGATIONS OF EITHER PARTY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Insurance</U>. During the Term and for a period of at least three (3) years after the last commercial sale of the Licensed Product
under this Agreement, each Party shall maintain insurance, with a reputable, solvent insurer in an amount appropriate for its business
and products of the type that are the subject of this Agreement, and for its obligations under this Agreement, including product liability
insurance including coverage for each Licensed Product in an amount not less than $5,000,000 per occurrence and $10,000,000 in the aggregate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ARTICLE
X.</B></FONT><BR>
<B>TERM AND TERMINATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Term</U>. This Agreement shall become effective as of the Effective Date and shall continue in full force and effect until the
end of the Royalty Term, unless earlier terminated in accordance with this Article X (the &ldquo;<U>Term</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination for Cause</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10.2.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Agreement may be terminated in its entirety, on a Licensed Product by Licensed Product basis, and by country by country basis
in the Territory, upon written notice by a Party if the other Party is in material breach of its obligations (other than payment obligations)
hereunder and has not cured such material breach within sixty (60) days after written notice describing the nature of such material breach
is provided to the breaching Party. If Chromocell breaches any of its payment obligations under the terms of this Agreement that are not
the subject of a good faith dispute and Chromocell has not cured such breach within twenty (20) Business Days following the date Benuvia
provides written notice to Chromocell of said breach for failure to pay as provided herein, this Agreement may be terminated in its entirety
by Benuvia upon written notice to Chromocell.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10.2.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Either Party may terminate this Agreement upon the Bankruptcy Event of the other Party; provided however, that the Parties acknowledge
and agree that this Agreement is a license of rights to &ldquo;intellectual property&rdquo; as such term is defined in Section 101 of
the Bankruptcy Code for purposes of Section 365(n) of the Bankruptcy Code. The Parties agree that the non-bankrupt Party, as a licensee
of such rights under this Agreement, shall retain and may fully exercise all of its rights and elections under the Bankruptcy Code and
any other equivalent law. The following is without prejudice to any rights that any non-bankrupt Party may have arising under this Agreement,
the Bankruptcy Code or other applicable law. Further, upon occurrence of a Bankruptcy Event, the non-bankrupt party shall be entitled
to a complete duplicate of or complete access to any such intellectual property, and all embodiments thereof. Such intellectual property
and all embodiments thereof shall be promptly delivered to non-bankrupt Party (i) upon the occurrence of a Bankruptcy Event upon written
request therefor by the non-bankrupt party, unless the bankrupt Party (or the bankruptcy trustee) shall have then elected to continue
to perform all of its obligations under this Agreement or (ii) if not delivered under (i) above, concurrently with, and as a condition
to, the rejection of this Agreement by or on behalf of the non-bankrupt Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>[Reserved]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination by Chromocell</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10.4.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In addition to Chromocell&rsquo;s rights under Section 10.2, Chromocell shall have the right to terminate this Agreement upon sixty
(60) days&rsquo; prior written notice to Benuvia in the event Chromocell determines in its reasonable business judgement that (i) any
of the Licensed Products shall not be differentiated from oral tablets to result in a financially viable product; or (ii) after having
discussed a Licensed Product with the FDA Chromocell determines in its reasonable business judgement that the cost of development of said
Licensed Product shall exceed any reasonable forecast of a positive financial return. In the event Chromocell terminates this Agreement
pursuant to this Section 10.4.1, except as set forth in Section 10.5, neither Party shall have further recourse against the other or their
respective Affiliates and Sublicensees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10.4.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event that Chromocell terminates this Agreement pursuant to Section 10.4 and Benuvia Commercializes any Licensed Product
that incorporates Chromocell Product Know-How and/or Chromocell Product Patent Rights pursuant to Section 4.3, the Parties shall promptly
negotiate a license agreement in good faith, including a payment by Benuvia to Chromocell of royalties on Net Sales for such Licensed
Product in the Territory, calculated at the royalty rate of <FONT STYLE="font-family: Times New Roman, Times, Serif">[***]</FONT> (<FONT STYLE="font-family: Times New Roman, Times, Serif">[***]</FONT>%)
percent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Effect of Termination.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10.5.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination of Licenses</U>. Upon the termination of this Agreement for any reason, nothing herein shall be construed to release
either Party from any obligation that was incurred prior to the effective date of such termination, and each of the Parties shall remain
obligated to provide an accounting for and to pay amounts due. In the event of any termination of this Agreement, the license rights granted
to Chromocell under Article IV shall terminate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10.5.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Transfer of Information and Filings</U>. Upon (i) the expiration of the Royalty Term for a Licensed Product, (ii) Benuvia&rsquo;s
termination of this Agreement under Section 10.2, or (iii) Chromocell&rsquo;s termination of this Agreement under Section 10.4:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 117pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Chromocell shall, and shall cause its Affiliates to, as promptly as practicable, at Chromocell&rsquo;s sole cost and expense, transfer
to Benuvia or Benuvia&rsquo;s designee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 117pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>possession and ownership of all governmental or regulatory correspondence, conversation logs, filings and approvals (including
the Existing IND and all other INDs, Marketing Approvals and pricing and reimbursement approvals) relating to the development, manufacture
or Commercialization of the Licensed Product and all product trademarks then being used by Chromocell to identify the Licensed Product,
if any, together with the goodwill of the business symbolized by the trademark identifying each applicable Licensed Product, if any (the
&ldquo;Licensed Product Trademark(s)&rdquo;) and all registrations and applications therefor in every country in the Territory, including
any renewals and extensions of the registrations that are or may be secured, now or hereafter in effect, and all rights of action accrued
and to accrue under and by virtue thereof, including the right to sue and recover for infringement of the product trademarks; provided,
however, that in no event shall this Agreement permit Benuvia to use any non-Licensed Product Trademark Controlled by Chromocell and the
goodwill related thereto; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>all preclinical, clinical, safety and other data related to each applicable Licensed Product tangible form and in Chromocell&rsquo;s
or any Affiliate&rsquo;s possession and control; and Chromocell shall use Commercially Reasonable Efforts to obtain for Benuvia the right
to access all such data and reports in the possession or control of any Chromocell Sublicensees or other Third Parties; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>tangible embodiments of Chromocell Product Know-How; provided, however, that Chromocell shall not have any obligation to perform
under this (iii) in the event Benuvia is in breach of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 121.5pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Chromocell shall provide Benuvia and its designees with a right of reference to any IND, Marketing Approval or other filing or
approval with any Regulatory Authority related to the development, manufacture or sale of each applicable the Licensed Product that has
not yet been transferred to Benuvia or its designee under this Section, and where appropriate and required shall provide prompt notice
to the applicable Regulatory Authority of such right of reference;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 121.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 121.5pt">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the event that Chromocell has assumed responsibility under Section 6.4.1 with respect to Licensed Product Patent Rights, Chromocell
shall transfer such responsibility and all related files and documents to Benuvia or its designee;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 121.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 121.5pt">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>notwithstanding any language to the contrary in this Agreement, for a period of up to twelve (12) months following the Term Chromocell
its Affiliates and Chromocell Sublicensees shall continue to have a limited license to the Benuvia Process Patents for the purpose of
selling its remaining inventory of each applicable Licensed Product subject to payment of royalties under Section 5.2;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 121.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 121.5pt">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Chromocell shall use Commercially Reasonable Efforts to execute all documents and take all such further actions, as may be reasonably
requested by Benuvia at Chromocell&rsquo;s sole cost and expense, in order to give effect to this Section as soon as reasonably practicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 121.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 121.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 121.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10.5.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Manufacturing</U>. In the event of any expiration or termination of this Agreement for any reason, to the extent Chromocell
or any of its Affiliates or Chromocell Sublicensees, has engaged a Third Party to manufacture of any Licensed Product (or portion thereof)
in accordance with Section 3.1.4, as of the date of notice of termination, Chromocell or any of its Affiliates or Chromocell Sublicensees
shall use Commercially Reasonable Efforts to cooperate with Benuvia, and cause the Third Party manufacturer of the Licensed Product to
cooperate with Benuvia in the transfer, scale-up and validation of the manufacturing process for the Licensed Product to Benuvia or Benuvia&rsquo;s
designee, including transfer of the master batch record, quality and analytical methods and all other relevant records reasonably requested
by Benuvia related to production, testing and release of the Licensed Product, and shall make its personnel reasonably available to Benuvia
to answer questions in connection with the foregoing. In addition, at Benuvia&rsquo;s option, (a) Chromocell shall insure that such Third
Party manufacturing contract shall terminate upon the termination of this Agreement, or (b) Chromocell shall use Commercially Reasonable
Efforts to assign to Benuvia any Third Party manufacturing contract relating to the Licensed Product to which Chromocell or any of its
Affiliates or Chromocell Sublicensees is a party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Survival</U>. Any expiration or termination of this Agreement shall be without prejudice to the rights of either Party against
the other accrued or accruing under this Agreement prior to expiration or termination, including payment obligations arising prior to
such expiration or termination. The provisions of Sections 4.3, 5.2, 5.4, 5.7, 5.8, 6.1, 6.2, 10.5 and Articles I, VII, IX, XI and XII
shall survive any expiration or termination of this Agreement; and all other provisions contained in this Agreement that by their explicit
terms survive expiration or termination of this Agreement, shall survive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ARTICLE
XI.</B></FONT><BR>
<B>DISPUTE RESOLUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Referral of Unresolved Matters to Chief Executive Officers</U>. In the event that the Parties are unable to resolve a dispute
under this Agreement, within fifteen (15) days from the date such dispute is first brought to the other Party&rsquo;s attention by written
notice, the matter shall be referred to the respective chief executive officers of each Party to be resolved by negotiation in good faith
as soon as is practicable but in no event later than thirty (30) days after referral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Arbitration</U>. Any dispute, claim or controversy arising from or related in any way to this Agreement, except for any dispute
relating to ownership, inventorship, infringement, scope, validity or enforceability of intellectual property rights, which the Parties
have not resolved under Section 11.1 shall be submitted for resolution to final and binding arbitration pursuant to the then current commercial
arbitration rules of the American Arbitration Association (&ldquo;<U>AAA</U>&rdquo;). Whenever Chromocell or Benuvia decides to institute
arbitration proceedings, it shall give written notice to the other Party stating the nature of the dispute in reasonable detail. Arbitration
shall be held in New York, New York, USA, and it shall be conducted by a panel of three (3) arbitrators if the dispute relates to a payment
amount of $250,000 or more and a single arbitrator if the dispute relates to the payment of less than $250,000. If arbitration shall be
held by three (3) arbitrators, then, within thirty (30) days after the receipt of the dispute notice by a Party, each of Chromocell and
Benuvia shall appoint one arbitrator each, and such arbitrators shall select a third arbitrator within thirty (30) days thereafter. In
selecting a third arbitrator, the two (2) party-appointed arbitrators shall not rely upon, or be provided with, any list of arbitrators
from the AAA. If either Party fails to appoint an arbitrator within the thirty-day period or if the two first arbitrators are unable to
select a third arbitrator within such additional period, or if the arbitration is to be conducted by a single arbitrator, such arbitrator(s)
shall be appointed by the AAA in accordance with AAA rules. Any and all arbitrators chosen hereunder shall have at least fifteen (15)
years of firsthand licensing and product development experience in the pharmaceutical industry, whether in business development or as
legal professionals and shall never have been employed (either as an employee or as an independent consultant) by either of the Parties,
or any Affiliate or Sublicensee. All arbitrators eligible to conduct the arbitration must agree to render their opinion(s) within thirty
(30) days of the final arbitration hearing. The proceedings and decisions of the arbitrators shall be confidential, final and binding
on the Parties. Judgment on the award so rendered may be entered in a court having jurisdiction thereof. The Parties shall share equally
the costs of the arbitrators, and each Party shall pay its own costs associated with the arbitration. Nothing in this Section shall preclude
either Chromocell or Benuvia from seeking equitable relief or interim or provisional relief from a court of competent jurisdiction concerning
a dispute either prior to or during any arbitration, if necessary, to protect the interests of such Party or to preserve the status quo
pending the arbitration proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ARTICLE
XII.</B></FONT><BR>
<B>MISCELLANEOUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Governing Law and Jurisdiction</U>. The validity, construction and performance of this Agreement shall be governed by and construed
in accordance with the substantive laws of the state of New York excluding any conflicts or choice of law rule or principle that might
otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction, and venue shall be Manhattan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Force Majeure</U>. Neither Party shall be held liable or responsible to the other Party nor be deemed to have defaulted under
or breached this Agreement for failure or delay in fulfilling or performing any term, including obligations to make payments hereunder,
when such failure or delay is caused by or results from fire, floods, embargoes, government regulations, prohibitions or interventions,
war, acts of war (whether war be declared or not), insurrections, riots, civil commotions, terrorism, epidemic or pandemic, acts of God
or any other cause beyond the reasonable control of the affected Party to anticipate, prevent, avoid or mitigate (a &ldquo;<U>Force Majeure
Event</U>&rdquo;); provided that (a) the affected Party provides prompt written notice to the other Party of such failure or delay, (b)
the affected Party uses Commercially Reasonable Efforts to mitigate the effects of the Force Majeure Event, and (c) the affected Party
immediately resumes performance upon cessation of the Force Majeure Event. Notwithstanding the foregoing, any failure or delay in fulfilling
a term shall not be considered a result of a Force Majeure Event if it arises from a failure of Chromocell or Benuvia to comply with applicable
laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Further Assurances</U>. Each Party hereto agrees to perform such acts, execute such further instruments, documents or certificates,
and provide such cooperation in proceedings and actions as may be reasonably requested by the other Party in order to carry out the intent
and purpose of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notices</U>. Any notice required or permitted to be given under this Agreement shall be in writing and shall be deemed to have
been properly given if delivered, in person or by a nationally recognized overnight courier, to the addresses set forth in the Preamble
or such other addresses as may be designated in writing by the Parties from time to time during the Term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Assignment</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">12.5.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Assignment Provisions</U>. This Agreement may not be assigned or otherwise transferred by either Party (whether by operation
of law or otherwise), without the written consent of the other Party. Notwithstanding the foregoing, upon written notice to the other
party (i) Benuvia may assign its rights to receive license revenue under this Agreement and (ii) either Party may assign this Agreement
without consent of the other Party (A) in the event of a Change of Control of such Party to the Third Party successor or purchaser if
the Third Party successor or purchaser provides written notice to the other Party that such Third Party agrees to be bound by the terms
of this Agreement within ten (10) days after assignment or (C) to an Affiliate, provided the assignor shall remain responsible for the
payment and performance by such Affiliate of its obligations hereunder. Any permitted assignee shall assume all obligations of its assignor
under this Agreement. For the avoidance of doubt, the provisions of Section 5.1 of this Agreement may not be assigned or otherwise transferred
(whether by operation of law or otherwise), except pursuant to the terms of the Stock Issuance Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">12.5.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Amendment</U>. The Parties hereto may amend, modify, waive or alter any of the provisions of this Agreement, but only by a written
instrument duly executed by both Parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">12.5.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Entire Agreement</U>. This Agreement, including the Stock Issuance Agreement, along with all schedules and exhibits attached
hereto and thereto, contains the entire understanding of the Parties with respect to the subject matter hereof and supersedes all prior
agreements, whether written or oral; provided that any preexisting nondisclosure agreement between the Parties shall not be superseded
by this Agreement as to confidential information provided prior to the Effective Date or otherwise not subject to this Agreement.. Each
Party confirms that it is not relying on any representations, warranties or covenants of the other Party except as specifically set out
in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">12.5.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Third Parties</U>. The provisions of this Agreement are for the sole benefit of the Parties and their successors and permitted
assigns, and they shall not be construed as conferring any rights in any other Persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">12.5.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Waiver</U>. The failure of a Party to enforce at any time for any period any of the provisions of this Agreement shall not be
construed as a waiver of such provisions or of the rights of such Party thereafter to enforce each such provision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">12.5.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Implied Licenses</U>. Except as expressly and specifically provided under this Agreement, the Parties agree that neither
Party is granted any implied rights to or under any of the other Party&rsquo;s current or future patents, trade secrets, copyrights, moral
rights, trade or service marks, trade dress, or any other intellectual property rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">12.5.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Relationship of the Parties</U>. The Parties agree that their relationship established by this Agreement is that of independent
contractors. Furthermore, the Parties agree that this Agreement does not, is not intended to, and shall not be construed to, establish
a partnership or joint venture, and nor shall this Agreement create or establish an employment, agency or any other relationship. Except
as may be specifically provided in this Agreement, neither Party shall have any right, power or authority, nor shall they represent themselves
as having any authority to assume, create or incur any expense, liability or obligation, express or implied, on behalf of the other Party,
or otherwise act as an agent for the other Party for any purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">12.5.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Severability</U>. If any provision of this Agreement is held unenforceable by a court or tribunal of competent jurisdiction
in a final unappealable order because it is invalid or conflicts with any law of any relevant jurisdiction, then such provision shall
be inoperative in such jurisdiction and the remainder of this Agreement shall remain binding upon the Parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">12.5.9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Counterparts</U>. This Agreement may be executed in any number of counterparts (including a .pdf version or by facsimile), each
of which shall be deemed an original, but all of which together shall constitute one and the same document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Signature Page Follows </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, Benuvia and Chromocell have
caused this Agreement to be duly executed by their authorized representatives, in duplicate, on the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 50%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>BENUVIA OPERATIONS, LLC</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">By: <U>/s/ Darwin Richardson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Name: Darwin Richardson</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Title: CEO</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>CHROMOCELL THERAPEUTICS CORPORATION</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">By: <U>/s/ Francis Knuettel II&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Name: Francis Knuettel II</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Title: CFO</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE I &ndash; DEFINITIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Adverse Event</U>&rdquo;
shall have the meaning set forth in Section 3.2.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Affiliate</U>&rdquo;
of a Party means any person or entity which, directly or indirectly, controls, is controlled by, or is under common control with, such
Party. For the purposes of this definition, &ldquo;control&rdquo; and related words are used as such terms are used in, and constructed
under, Rule 405 of the Securities Act of 1933, as amended. Notwithstanding the foregoing, for the purposes of this Agreement, Benuvia,
on the one hand, and Chromocell, on the other hand, shall not be considered &ldquo;Affiliates&rdquo; of each other.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>AAA</U>&rdquo; shall
have the meaning set forth in Section 11.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Agreement</U>&rdquo;
means this Development and License Agreement, including any and all exhibits, schedules, appendices and other addenda to it and as it
may be amended by the Parties from time to time in accordance with the provisions of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Audited Party</U>&rdquo;
shall have the meaning set forth in Section 5.8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Bankruptcy Code</U>&rdquo;
means Title 11 of the United States Code entitled &ldquo;Bankruptcy&rdquo; as now and hereafter in effect, and any successor statute.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Bankruptcy Event</U>&rdquo;
means the occurrence of any of the following: (a) the institution of any bankruptcy, receivership, insolvency, reorganization or other
similar proceedings by or against a Party under any bankruptcy, insolvency, or other similar law now or hereinafter in effect, including
any section or chapter of the Bankruptcy Code, as amended or under any similar laws or statutes of the United States or any state thereof
or any other country or jurisdiction, where in the case of involuntary proceedings such proceedings have been consented to by the Party
subject thereto or have not been dismissed or discharged within 60 days after they are instituted, (b) the making of an assignment for
the benefit of creditors as to all or substantially all of a Party&rsquo;s assets, or (c) appointment of a receiver, custodian, trustee,
liquidator, assignee or other similar official for all or substantially all of a Party&rsquo;s assets for the benefit of creditors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Benuvia</U>&rdquo;
shall have the meaning set forth in the Preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Benuvia Indemnitees</U>&rdquo;
shall have the meaning set forth in Section 9.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Benuvia Sublicensee</U>&rdquo;
means a Third Party (i) to whom Benuvia or any of its Affiliates, subject to the terms and conditions of this Agreement, grants a written
sublicense under all or part of the Licensed Process Intellectual Property to develop, manufacture, use, offer to sell, sell or import
any Licensed Product within the Territory; or (ii) otherwise designated by Benuvia or any of its Affiliates or Benuvia Sublicensees to
distribute any Licensed Product within the Territory.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Business Day</U>&rdquo;
means a weekday on which banking institutions in New York are open for business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>CMC</U>&rdquo; means
chemistry, manufacturing and controls.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Change of Control</U>&rdquo;
means, with respect to a Party, any of the following: (i) the acquisition after the Effective Date, by an individual or entity or &ldquo;group&rdquo;
(as defined in Rule 13d-5(b)(1) promulgated under the Securities Exchange Act of 1934, as amended), of effective control (whether through
legal or beneficial ownership of capital stock or membership interests, by contract or otherwise) of in excess of fifty percent (50%)
of the voting securities of a Party (other than by means of any conversions or exercise of the holders of existing holders of capital
stock or membership interests); or (ii) the acquisition, merger or consolidation of such Party with or into another entity, in which the
holders of shares of voting capital stock of such Party, as the case may be, immediately prior to such acquisition, merger or consolidation
cease to collectively own, directly or indirectly, at least fifty-one percent (51%) of the aggregate voting power of the acquiring Third
Party or the surviving corporation in such acquisition, merger or consolidation, as the case may be, immediately after such acquisition,
merger or consolidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Chromocell</U>&rdquo;
shall have the meaning set forth in the Preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Chromocell Indemnitees</U>&rdquo;
shall have the meaning set forth in Section 9.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Chromocell Product
Know-How</U>&rdquo; means any Know-How Controlled by Chromocell or any of its Affiliates at any time starting on the Effective Date and
thereafter during the Term (including Chromocell Improvements) which has been incorporated into any Licensed Product or is otherwise directly
relevant to the development, manufacture or use of any Licensed Product, but excluding Licensed Process Intellectual Property. For the
sake of clarity and notwithstanding any language to the contrary in this Agreement, the term &ldquo;Chromocell Product Know-How&rdquo;
does not and shall not include: (i) any intellectual property (including Know-How and Patent Rights) generated by or on behalf of Chromocell
outside of the research, development, manufacturing, Commercialization or use of any Licensed Product or otherwise outside of the performance
of this Agreement; (ii) intellectual property (including Know-How and Patent Rights) licensed or purchased by Chromocell from a Third
Party or relates to such intellectual property; or (iii) any intellectual property (including Know-How and Patent Rights) related to products
or product candidates of Chromocell or its Affiliates that do not utilize Licensed Process Intellectual Property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Chromocell Product
Patent Rights</U>&rdquo; means any Patent Rights Controlled by Chromocell or any of its Affiliates at any time starting on the Effective
Date and thereafter during the Term that Cover the research, development, manufacture, use, offer for sale, sale or import of any Licensed
Product, but excluding Licensed Process Patent Rights and Benuvia Improvements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the sake of clarity and
notwithstanding any language to the contrary in this Agreement, the term &ldquo;Chromocell Product Patent Rights&rdquo; does not and shall
not include: (i) any intellectual property (including Know-How and Patent Rights) generated by or on behalf of Chromocell outside of the
research, development, manufacturing, Commercialization or use of any Licensed Product or otherwise outside of the performance of this
Agreement; (ii) intellectual property (including Know-How and Patent Rights) licensed or purchased by Chromocell from a Third Party or
relates to such intellectual property; or (iii) any intellectual property (including Know-How and Patent Rights) related to products or
product candidates of Chromocell or its Affiliates that do not utilize Licensed Process Intellectual Property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Chromocell Sublicensee</U>&rdquo;
means a Third Party (i) to whom Chromocell or any of its Affiliates, subject to the terms and conditions of this Agreement, grants a written
sublicense under all or part of the Licensed Process Intellectual Property to develop, manufacture, use, offer to sell, sell or import
any Licensed Product within the Territory; or (ii) otherwise, subject to the terms and conditions of this Agreement designated by Chromocell
or any of its Affiliates or designees to distribute any Licensed Product within the Territory.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Commercialization&rdquo;
and &ldquo;Commercialize</U>&rdquo; means all activities undertaken relating to the marketing, promotion, offering for sale, distribution
or sale of any Licensed Product within the Territory, including; advertising; promotion; strategic marketing; market research; sales meetings;
detailing; sample drops; activities related to national accounts, managed care accounts and other similar accounts and government Licensed
Process; activities related to reimbursement; market and product support; customer service; product storage and distribution; order entry;
billing; collection; invoicing; returns; and other marketing, sales, distribution and customer activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Commercially Reasonable
Efforts</U>&rdquo; means, with respect to the efforts of a Party to complete specific tasks or obligations under this Agreement relating
to any Licensed Product, at least the level of efforts and resources that would be applied, consistent with prevailing pharmaceutical
industry standards, by a typical pharmaceutical company with respect to a product at a similar stage in its product life and of similar
market potential to the Licensed Product taking into account the competitiveness of the market, the proprietary position of the Licensed
Product and the likely profitability of the Licensed Product. Commercially Reasonable Efforts shall be determined on a market-by-market
basis for the Licensed Product, and it is anticipated that the level of effort shall change over time, reflecting changes in the status
of the Licensed Product and the market involved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Confidential Information</U>&rdquo;
means any information of a confidential or proprietary nature provided by or on behalf of one Party or any of its Affiliates to the other
Party or any of its Affiliates in connection with this Agreement, including Know-How, Patent Rights, protocols, packaging designs and
materials, future development plans, product launch dates, manufacturing, regulatory, marketing, servicing, sales or financial matters
relating to the Disclosing Party or any of its Affiliates and their business; provided that, notwithstanding anything in this Agreement
to the contrary, Licensed Process Know-How generated by or on behalf of Chromocell or Benuvia shall be considered &ldquo;<U>Confidential
Information</U>&rdquo; of both Benuvia and Chromocell, and each shall be deemed a Receiving Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Control&rdquo; or
&ldquo;Controlled</U>&rdquo; other than for purposes of the definition of Change of Control, means the possession by ownership or license
of the right to grant licenses or sublicenses in the Territory without violating the terms of any agreement with a Third Party and without
misappropriating or infringing the proprietary or trade secret information of a Third Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Cover&rdquo;, &ldquo;Covering&rdquo;
or &ldquo;Covered</U>&rdquo; means, with respect to a product or process, that, in the absence of ownership of, or a license under, a
Patent Right, the manufacture, use, offer for sale, sale or import of such product or process would infringe a Valid Claim of such Patent
Right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Diclofenac Product</U>&rdquo;
means any product that uses Diclofenac for diagnosing and/or treating of all human indications and diseases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Disclosing Party</U>&rdquo;
shall have the meaning set forth in Section 7.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Effective Date</U>&rdquo;
shall have the meaning set forth in the Preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>FDA</U>&rdquo; means
the United States Food and Drug Administration or any successor agency thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>First Commercial
Sale</U>&rdquo;, as to a particular country, means the first commercial sale of a Licensed Product by Chromocell or any of its Affiliates
or Chromocell Sublicensees to a Third Party (or to an Affiliate or Chromocell Sublicensee that is an end user) in such country following
receipt of such Marketing Approval as is required to sell such Licensed Product in such country.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Force Majeure Event</U>&rdquo;
shall have the meaning set forth in Section 12.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Fully Burdened Cost</U>&rdquo;
means Benuvia&rsquo;s fully allocated cost of manufacturing a Licensed Product, including the cost of materials (including raw materials,
active ingredients, excipients and packaging materials), freight and insurance, all direct costs (e.g., labor, materials, energy, utilities,
quality control or other costs incurred directly in manufacturing the Licensed Product), all indirect costs (e.g., administrative labor
costs, facility and equipment maintenance costs, depreciation of such facility and equipment and the cost of insurance, with respect to
each, that are allocable to manufacturing Product and a reasonable allocation of overhead including facility rental and property tax,
with the calculation of all such cost being base upon manufacturing-related generally accepted accounting principles consistently applied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>GAAP</U>&rdquo;
means United States generally accepted accounting principles applied on a consistent basis. Unless otherwise defined or stated, financial
terms shall be calculated under GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Improvement</U>&rdquo;
means, with respect to any Licensed Process Intellectual Property, Chromocell Product Know-How or Chromocell Product Patent Rights, any
patentable or material non-patentable improvements, variations, updates, adaptations, modifications, upgrades or enhancements thereto
created, made, invented, or developed by or on behalf of a Party or its Affiliates (solely or jointly) during the Term and in the course
of performing activities under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>IND</U>&rdquo; means
an Investigational New Drug Application filed with the FDA or a similar application filed with an applicable Regulatory Authority outside
of the United States such as a clinical trial application (CTA) or a clinical trial exemption (CTX).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Indemnitee</U>&rdquo;
shall have the meaning set forth in Section 9.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Know-How</U>&rdquo;
means all information not generally known to the public, including tangible materials (including copyrightable materials), inventions,
practices, methods, protocols, formulas, knowledge, know-how, trade secrets, processes, procedures, specifications, assays, skills, experience,
techniques, data and results of experimentation and testing, including pharmacological, toxicological, safety, stability and pre-clinical
and clinical test data and analytical and quality control data, patentable or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>License Fee</U>&rdquo;
shall have the meaning set forth in Section 5.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Licensed Patent(s)</U>&rdquo;
means the Patent Rights set forth on Exhibit C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Licensed Process
Intellectual Property</U>&rdquo; means, collectively, all Licensed Process Know-How, Licensed Process Patent Rights and Benuvia Improvements
thereto Controlled by Benuvia.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the sake of clarity and
notwithstanding any language to the contrary in this Agreement, the term &ldquo;Licensed Process Intellectual Property&rdquo; does not
and shall not include: (i) any intellectual property (including Know-How and Patent Rights) generated by or on behalf of Benuvia outside
of the research, development, manufacturing, Commercialization or use of any Licensed Product or otherwise outside of the performance
of this Agreement; (ii) intellectual property (including Know-How and Patent Rights) licensed or purchased by Benuvia from a Third Party
or relates to such intellectual property; or (iii) any intellectual property (including Know-How and Patent Rights) related to products
or product candidates of Benuvia or its Affiliates that do not utilize Licensed Process Intellectual Property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Licensed Process
Know-How</U>&rdquo; means all Know-How and other intellectual property (i) Controlled by Benuvia as of the Effective Date or during the
Term (including Benuvia Improvements) related to the research, development, manufacture, Commercialization or use of any Licensed Product
in the Territory.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the sake of clarity and
notwithstanding any language to the contrary in this Agreement, the term &ldquo;Licensed Process Know-How&rdquo; does not and shall not
include: (i) any intellectual property (including Know-How and Patent Rights) generated by or on behalf of Benuvia outside of the research,
development, manufacturing, Commercialization or use of any Licensed Product or otherwise outside of the performance of this Agreement;
(ii) intellectual property (including Know-How and Patent Rights) licensed or purchased by Benuvia from a Third Party or relates to such
intellectual property; or (iii) any intellectual property (including Know-How and Patent Rights) related to products or product candidates
of Benuvia or its Affiliates that do not utilize Licensed Process Intellectual Property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Licensed Process
Patent Rights</U>&rdquo; means any and all Patent Rights, including, but not limited to the Licensed Patents, Controlled by Benuvia on
the Effective Date or at any time during the Term that Cover the research, development, manufacture, Commercialization, or use of any
Licensed Product in the Territory. For the avoidance of doubt, in the event Chromocell revives any Licensed Patent that is expired or
abandoned as of the Effective Date, such Licensed Patent shall be deemed a Licensed Process Patent Right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Licensed Product</U>&rdquo;
means any Diclofenac Product, any Ondansetron Product, or, any Rizatriptan Product, including any Improvements thereon that is (i) Covered
by a Valid Claim of Licensed Process Patent Rights or (ii) incorporates or is derived from Licensed Process Intellectual Property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Losses</U>&rdquo;
shall have the meaning set forth in Section 9.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Marketing Approval</U>&rdquo;
means any approval, including a registration, license or authorization, and including pricing approvals in jurisdictions where that is
necessary, from any Regulatory Authority required to Commercialize a Licensed Product in a jurisdiction within the Territory.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Medical Affairs</U>&rdquo;
means, with respect to a Licensed Product in the Territory, activities conducted following Marketing Approval regarding medical communications
with prescribers, the provision of grants to fund investigator studies, publications, safety information and independent medical education.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>NDA</U>&rdquo; means
a New Drug Application, Biologics License Application or equivalent submission filed with the FDA in connection with seeking Marketing
Approval of a Licensed Product, or an equivalent application filed with any equivalent regulatory agency or governmental authority in
any jurisdiction within the Territory other than the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Net Sales</U>&rdquo;
means the gross amount invoiced (or the fair market value of non-cash consideration) on sales (including leases or similar arrangements)
of a Licensed Product in the Territory by Chromocell, its Affiliates or Chromocell Sublicensees to any Third Party, less the following
deductions calculated in accordance with GAAP, consistently applied, to the extent such deductions are specifically and solely allocated
to such Licensed Product and are actually taken, paid, accrued, allowed, included or allocated with respect to such sales:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>normal and customary trade, cash and quantity discounts, allowances, and credits allowed or paid, in the form of deductions actually
allowed with respect to sales of such Licensed Product;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>retroactive price reductions, allowances or credits actually granted upon rejections or returns of such Licensed Product, including
for recalls or damaged goods;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>chargeback payments or rebates granted (and actually taken) to providers of health insurance coverage, health care organizations
or other health care institutions (including hospitals) with respect to sales of such Licensed Product;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>compulsory
payments and cash rebates related to the sales of such Licensed Product paid to a governmental authority (or agent thereof) pursuant
to governmental regulations by reason of any national or local health insurance Licensed Process or similar Licensed Process, to the
extent allowed and taken;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>reasonable,
customary and necessary outbound freight, shipping, insurance and other transportation expenses, if actually borne by Chromocell or its
Affiliates or Chromocell Sublicensees without reimbursement from any Third Party, which actual deductions shall not exceed <FONT STYLE="font-family: Times New Roman, Times, Serif">[***]
</FONT>percent (<FONT STYLE="font-family: Times New Roman, Times, Serif">[***]</FONT>%) of the gross amount invoiced with respect to
such sales; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>tariffs; duties; excise, sales, value-added and other similar taxes (other than taxes based on income); customs duties; or other
government charges, in each case imposed on the sale of such Licensed Product to the extent included in the price and separately itemized
on the invoice, including VAT, but only to the extent that such VAT are not reimbursable or refundable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">All aforementioned deductions shall be determined, on a country-by-country basis, as incurred in the ordinary
course of business in type and amount consistent with the business practices of Chromocell or the applicable Affiliate or Chromocell Sublicensee
consistently applied across its product lines and accounting standards and verifiable based on a company-wide reporting system.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">In the case of any sale of such Licensed Product to a Third Party, other than a Chromocell Sublicensee
or Affiliate, in a transaction that is not an arm&rsquo;s length transaction, the gross invoice price included in the calculation of Net
Sales with respect to such sale shall be the average selling price charged by Chromocell and its Affiliates and Chromocell Sublicensees
and in arm&rsquo;s length sales to Third Parties, other than Chromocell Sublicensees and Affiliates, in the applicable country and during
the relevant period.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Notwithstanding the foregoing, disposition of such Licensed Product for use in clinical trials or other
scientific testing, as free samples, or under compassionate use, patient assistance, or test marketing such Licensed Product where such
Licensed Product is supplied without charge shall not result in any Net Sales, provided, however if Chromocell or any of its Affiliates
or Chromocell Sublicensees charges for such Licensed Product, the amount billed shall be included in the calculation of Net Sales.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Chromocell shall not and shall ensure that its Affiliates shall not use any Licensed Product as a loss
leader. Chromocell shall use Commercially Reasonable Efforts to ensure that its Chromocell Sublicensees shall not use any Licensed Product
as a loss leader. Chromocell agrees, and shall ensure that its Affiliates agree, that if it prices a Licensed Product in order to gain
or maintain sales of other products, then for purposes of calculating the payments due under this Agreement, the Net Sales shall be adjusted
to reverse any discount, allowances, credits, rebates, and other deductions (&ldquo;Discount&rdquo;) which was given to a customer that
was in excess of customary Discounts for the Licensed Product (or, in the absence of relevant data for the Licensed Product, for other
similar products under similar market conditions). All discounts shall be fairly and equitably allocated to the Licensed Product and other
products of the Party and its Affiliates and Sublicensees such that no Licensed Product bears a disproportionate portion of such Discounts.
If any Discounts are made in connection with sales of a Licensed Product that are bundled or sold together with other products of Chromocell
or any of its Affiliates or Chromocell Sublicensees, in no event shall the Discounts applied to the Licensed Product exceed the Discount
applied to other products of Chromocell, its Affiliates or Chromocell Sublicensees in such arrangement as a percentage of the respective
list prices of the Licensed Product and such other products prior to applying the Discount.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Net Sales shall be determined from books and records maintained in accordance with GAAP, consistently
applied throughout the organization and across all products of the entity whose sales of a Licensed Product are giving rise to Net Sales.
No particular item may be deducted more than once in determining Net Sales.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Ondansetron Product</U>&rdquo;
means any product that uses Ondansetron for treating nausea and vomiting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Party&rdquo; or
&ldquo;Parties</U>&rdquo; shall have the meaning set forth in the Preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Patent Rights</U>&rdquo;
means patents and patent applications and all substitutions, divisions, continuations, continuations-in-part, reissues, reexaminations,
supplemental protection certificates and extensions and the like thereof, and all counterparts thereof in any country to the extent the
foregoing is not expired, abandoned, or otherwise dedicated to the public domain.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Quarterly Financial
Report</U>&rdquo; shall have the meaning set forth in Section 5.4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Receiving Party</U>&rdquo;
shall have the meaning set forth in Section 7.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Regulatory Activities</U>&rdquo;
mean all activities related to the preparation, filing, obtaining or maintenance of any IND, NDA, 505(b)(2) or other applicable qualifications,
applications and registrations to conduct clinical trials and Marketing Approval with respect to a Licensed Product within the Territory
and interaction with any Regulatory Authorities in the Territory related to the Licensed Product.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Regulatory Authority</U>&rdquo;
means any federal, national, multinational, state, county, city, provincial, or local regulatory agency, department, bureau or other governmental
entity with authority over the marketing, Commercialization, manufacture or sale of a pharmaceutical product in the Territory, including
the FDA in the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Regulatory Documentation</U>&rdquo;
means, with respect to a Licensed Product and in the Territory, all submissions for INDs and Marketing Approvals and related correspondence,
including transmittal letters, safety reports, formal questions and responses, annual reports, and other official correspondence (such
as preliminary and final Licensed Product labeling).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Rizatriptan Product</U>&rdquo;
means any product that uses Rizatriptan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Royalty Term</U>&rdquo;
shall have the meaning set forth in Section 5.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Safety Data Exchange
Agreement</U>&rdquo; shall have the meaning set forth in Section 3.2.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Sublicensee</U>&rdquo;
means (i) as to Benuvia, a Benuvia Sublicensee; or (ii) as to Chromocell, a Chromocell Sublicensee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Term</U>&rdquo;
means the term of this Agreement determined in accordance with Section 10.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Territory</U>&rdquo;
means worldwide.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Third Party</U>&rdquo;
means any person other than a Party or any of its Affiliates or their respective employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>United States&rdquo;
or &ldquo;U.S.</U>&rdquo; means the United States of America and its territories and possessions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Valid Claim</U>&rdquo;
means (i) a claim of an issued and unexpired patent that has not been revoked or held unenforceable or invalid by a decision of a court
or other governmental agency of competent jurisdiction from which no appeal can be taken or with respect to which an appeal is not taken
within the time allowed for appeal, and that has not been disclaimed or admitted to be invalid or unenforceable through reissue, disclaimer
or otherwise or been dedicated to the public; and (ii) a claim in a pending patent application that has been pending for no more than
ten (10) years and has not been abandoned, disclaimed, allowed to lapse or finally determined to be unallowable by the applicable governmental
authority in a decision from which no appeal can be taken or from which no appeal is taken within the time allowed for appeal; provided
that if such claim is later issued, it shall again be a Valid Claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">&ldquo;<U>505(b)(2)</U>&rdquo; means an application submitted to the
FDA under 21 USC 355 Section 505(b)(2) in connection with seeking Marketing Approval of a Licensed Product, or an equivalent application
filed with any equivalent regulatory agency or governmental authority in any jurisdiction within the Territory other than the United States.</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IND Letters</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[***]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Stock Issuance Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT C</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Licensed Process Patent Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; border: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Country</B></FONT></TD>
    <TD STYLE="width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Application Number</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Filing Date</B></FONT></TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Publication Number</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P></TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Patent Num</B></FONT></TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Issue Date or Status</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">United States</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Diclofenac Sublingual Spray &ndash; Defect in patent assignment chain
    of title</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">14/791,567</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">7/6/2015</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">20160008306</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">9855234</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1/2/2018</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">United States</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ondansetron sublingual spray formulation - Defect in patent assignment
    chain of title</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">14/541,439</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">11/14/2014</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">20150133517</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">9,566,233</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2/14/2017</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">United States</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sublingual Ondansetron Spray</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">15/230,633</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">8/8/2016</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">20170042861</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">10,172,833</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1/8/2019</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">United States<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>1</SUP></FONT></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Liquid rizatriptan compositions</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">62/620,055</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1/22/2018</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Expired</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">United States<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>2</SUP></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Liquid rizatriptan compositions</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">16/251,545</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1/8/2019</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">20190224171</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Abandoned</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">International<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>3</SUP></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Liquid rizatriptan compositions</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2019/014177</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1/8/2019</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2019/143925</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Expired</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<HR ALIGN="LEFT" SIZE="1" STYLE="width: 33%">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT>
Expired</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>2</SUP></FONT>
Abandoned</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>3</SUP></FONT>
Expired</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>13
<FILENAME>g083881_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
23.1</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><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: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B><U>Independent
Registered Public Accounting Firm&rsquo;s Consent</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><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"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the inclusion in this Registration
Statement of Chromocell Therapeutics Corporation on Form S-1 (Amendment No. 9) (File No. 333-269188) of our report dated May 1,
2023, which includes an explanatory paragraph as to the Company&rsquo;s ability to continue as a going concern, with respect to
our audits of the financial statements of Chromocell Therapeutics Corporation as of December 31, 2022 and 2021 and for the years
ended December 31, 2022 and 2021, which report appears in the Prospectus, which is part of this Registration Statement. We also
consent to the reference to our Firm under the heading &ldquo;Experts&rdquo; in such Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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">Our
report on the financial statements includes an emphasis of matter paragraph as to the preparation of the financial statements on a carve-out
basis.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
Marcum <FONT STYLE="font-variant: small-caps">llp</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marcum
<FONT STYLE="font-variant: small-caps">llp</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Houston,
Texas</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">January 16, 2024</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>14
<FILENAME>g083881_ex107.htm
<DESCRIPTION>EXHIBIT 107
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 107</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Calculation of Filing Fee Tables</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form S-1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Form Type)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CHROMOCELL THERAPEUTICS CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Table 1: Newly Registered and Carry Forward
Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 10%; border-top: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 6%; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Security
    Type</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 13%; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Security
    Class Title</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Fee
    Calculation Rule</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Amount
    Registered(1) </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Proposed
    Maximum Offering Price Per Share</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 14%; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Proposed
    Maximum Aggregate Offering Price (1)(2)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Fee
    Rate</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 20%; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Amount
    of Registration Fee</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9" STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Newly
    Registered Securities</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Fees
    to be paid</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Equity</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Shares
of common stock, $0.0001 par value per share</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Rule 457(o)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">$7,764,087.50</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">0.0001476</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">$1,145.98</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Equity</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Representative&rsquo;s
    warrants to purchase shares of common stock(3)(4)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Rule
    457(g)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Equity</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Shares
    of common stock issuable upon exercise of Representative&rsquo;s warrants (4)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Rules
    457(g) and 457(o)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">$485,556.12</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">0.0001476</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">$71.67</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Equity</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Shares
    of common stock, $0.0001 par value per share (5)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Rule
    457(a)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">2,909,353</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">$</FONT><FONT STYLE="font-size: 8pt">6.50</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">$18,910,794.50</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">0.0001476</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">$2,791.23</FONT></TD></TR>
<TR>
    <TD COLSPAN="6" STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; padding-left: 66pt; text-indent: -27pt"><FONT STYLE="font-size: 8pt"><B>Total
    Offering Amounts</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">$27,160,438.12</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">$4,008.88</FONT></TD></TR>
<TR>
    <TD COLSPAN="6" STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; padding-left: 66pt; text-indent: -27pt"><FONT STYLE="font-size: 8pt"><B>Total
    Fees Previously Paid</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">$4,792.10</FONT></TD></TR>
<TR>
    <TD COLSPAN="6" STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; padding-left: 66pt; text-indent: -27pt"><FONT STYLE="font-size: 8pt"><B>Total
    Fee Offset</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">$0</FONT></TD></TR>
<TR>
    <TD COLSPAN="6" STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; padding-left: 66pt; text-indent: -27pt"><FONT STYLE="font-size: 8pt"><B>Net
    Fee Due</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-left: black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>$0</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify"><FONT STYLE="background-color: white">Pursuant to Rule 416 under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;),
this registration statement shall also cover an indeterminate number of shares that may be issued and resold resulting from stock splits,
stock dividends or similar transactions.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-align: justify"></TD><TD STYLE="width: 0.25in; text-align: justify">(2)</TD><TD STYLE="text-align: justify"><FONT STYLE="background-color: white">Estimated solely for the purpose of calculating the amount of the registration fee pursuant
to Rule 457(o) under the Securities Act based on an estimate of the proposed maximum aggregate offering price. Includes the offering price
of additional number of Units that the underwriters have the option to purchase to cover over-allotments, if any.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-align: justify"></TD><TD STYLE="width: 0.25in; text-align: justify">(3)</TD><TD STYLE="text-align: justify"><FONT STYLE="background-color: white">No additional registration fee is payable pursuant to Rule 457(g) of the Securities Act.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; background-color: white">The registrant will issue to A.G.P./Alliance Global Partners, the representative of the underwriters,
warrants to purchase up to a number of shares of Common Stock equal to 5.0% of the aggregate number of shares of Common Stock sold
in the offering. The exercise price of the warrants is equal to 125.0% of the offering price of the shares of Common Stock offered
hereby. As estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(g) under the Securities Act,
the proposed maximum aggregate offering price of the representative&rsquo;s warrants is $485,556.12, which is equal to 5.0% of
the aggregate number of shares of Common Stock sold in the registrant&rsquo;s initial public offering, at an exercise price equal
to 125% of the public offering price per share of Common Stock.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; background-color: white">Represents the resale under a separate resale prospectus (the &ldquo;Resale Prospectus&rdquo;) by selling
stockholders of the registrant of up to <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,909,353 Selling
Stockholder Shares previously issued to the selling shareholders named in the Resale Prospectus. Estimated solely for purposes
of calculating the registration fee pursuant to Rule 457(a) under the Securities Act. The proposed maximum aggregate offering price
of such Stockholder Shares is based on the high end of the price range, or $6.50 per share, of the shares of Common Stock offered
in the registrant&rsquo;s initial public offering and being registered on this registration statement.</FONT></FONT></TD></TR>
</TABLE>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
