<SEC-DOCUMENT>0001493152-20-016849.txt : 20200827
<SEC-HEADER>0001493152-20-016849.hdr.sgml : 20200827
<ACCEPTANCE-DATETIME>20200827172236
ACCESSION NUMBER:		0001493152-20-016849
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20200821
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200827
DATE AS OF CHANGE:		20200827

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DOCUMENT SECURITY SYSTEMS INC
		CENTRAL INDEX KEY:			0000771999
		STANDARD INDUSTRIAL CLASSIFICATION:	PAPERBOARD CONTAINERS & BOXES [2650]
		IRS NUMBER:				161229730
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32146
		FILM NUMBER:		201144072

	BUSINESS ADDRESS:	
		STREET 1:		200 CANAL VIEW BOULEVARD
		STREET 2:		SUITE 104
		CITY:			ROCHESTER
		STATE:			NY
		ZIP:			14623
		BUSINESS PHONE:		585 232 1500

	MAIL ADDRESS:	
		STREET 1:		200 CANAL VIEW BOULEVARD
		STREET 2:		SUITE 104
		CITY:			ROCHESTER
		STATE:			NY
		ZIP:			14623

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NEW SKY COMMUNICATIONS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	THOROUGHBREDS USA INC
		DATE OF NAME CHANGE:	19861118
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8-k.htm
<TEXT>
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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 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; text-align: center; margin-top: 0; margin-bottom: 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; text-align: center; margin-top: 0; margin-bottom: 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; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt"><B>UNITED
STATES</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: 18pt"><B>SECURITIES
AND EXCHANGE COMMISSION</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: 12pt"><B>Washington,
D.C. 20549</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: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt"><B>FORM
8-K</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: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CURRENT
REPORT</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: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934</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: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date
of Report (Date of earliest event reported): <B>August 21, 2020</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"><B>&nbsp;</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: 18pt"><B><U>DOCUMENT
SECURITY SYSTEMS, INC.</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">(Exact
name of registrant as specified in its charter)</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>New
    York</B></FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 2%; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>001-32146</B></FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 2%; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>16-1229730</B></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(State
        or other jurisdiction</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>of
        incorporation)</B></FONT></P></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(Commission</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>File
        Number)</B></FONT></P></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(IRS
        Employer</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Identification
        No.)</B></FONT></P></TD></TR>
</TABLE>
<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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 49%; border-bottom: black 1.5pt solid"><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"><B>200
        Canal View Boulevard</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"><B>Suite
        104</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"><B>Rochester,
        NY </B></FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 2%; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 49%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>14623</B></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(Address
    of principal executive offices)</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(Zip
    Code)</B></FONT></TD></TR>
</TABLE>
<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: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registrant&rsquo;s
telephone number, including area code: <B>(585) 325-3610</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: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Not
Applicable</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"><B>(Former
name or former address, if changed since last report.)</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"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Written
    communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="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="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting
    material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="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="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement
    communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="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="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement
    communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD></TR>
</TABLE>
<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"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities
registered pursuant to Section 12(b) of the Act:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 36%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title
    of each class</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: center"><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: 20%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Ticker
    symbol(s)</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: center"><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: 42%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name
    of each exchange on which registered</B></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    Stock, $0.02 par value per share</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DSS</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    NYSE American LLC</FONT></TD></TR>
</TABLE>
<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">Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT 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">Emerging
growth company [&nbsp;&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">&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">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [&nbsp;&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"><B>&nbsp;</B></FONT></P>

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


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<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"><B>&nbsp;</B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 21, 2020, Document Security Systems,
Inc. (the &ldquo;Company&rdquo;), completed its acquisition of Impact BioMedical, Inc. (&ldquo;Impact BioMedical&rdquo;), pursuant
to a Share Exchange Agreement by and among the Company, DSS BioHealth Security, Inc. (&ldquo;DSS BioHealth&rdquo;), Singapore
eDevelopment Ltd., and Global Biomedical Pte Ltd. (&ldquo;GBM&rdquo;), which was previously approved by the Company&rsquo;s shareholders
(the &ldquo;Share Exchange&rdquo;). Under the terms of the Share Exchange, the Company issued 483,334 shares of the Company&rsquo;s
common stock, par value $0.02 per share, nominally valued at $6.48 per share, and 46,868 newly issued shares of the Company&rsquo;s
Series A Convertible Preferred Stock (&ldquo;Series A Preferred Stock&rdquo;), with a stated value of $46,868,000, or $1,000 per
share, for a total consideration valued at $50 million. As a result of the Share Exchange, Impact BioMedical is now a wholly-owned
subsidiary of DSS BioHealth, the Company&rsquo;s wholly-owned subsidiary.</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">As previously disclosed, Heng Fai Ambrose
Chan is the Chief Executive Officer and largest shareholder of Singapore eDevelopment, as well as the Chairman of the Board and
largest shareholder of the Company.</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">Prior to the execution of the Share Exchange
Agreement, Impact BioMedical&rsquo;s ownership of a suite of antiviral and medical technologies was valued at $382 million through
a required independent valuation that was completed by Destum Partners. Because the valuation was higher than the previously agreed
value, the purchase price was capped at a value of $50 million as previously disclosed by the Company.</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"><B>&nbsp;</B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
disclosure set forth above in Item 2.01 of this Current Report on Form 8-K is incorporated by reference herein.</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">
The securities above were offered and sold pursuant to an exemption from the registration requirements under Section 4(a)(2) of
the Securities Act since, among other things, the transactions did not involve a public offering.</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"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the Share Exchange described in Item 3.02 above, on August 18, 2020, the Company filed a Certificate of Amendment
of its Certificate of Incorporation (the &ldquo;Certificate of Amendment&rdquo;) to increase the authorized the number of authorized
shares of the Company, including 200,000,000 shares of Preferred Stock, with a par value of $0.02, of which 46,868 shares were
designated Series A Preferred Stock. The Certificate of Amendment, the form of which was previously disclosed in a Schedule 14A
Definitive Proxy Statement filed with the Securities and Exchange Commission on July 14, 2020, is attached hereto as Exhibit 3.1
and is incorporated by reference.</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"><B>&nbsp;</B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
August 21, 2020, the Company issued a press release announcing the closing of its acquisition of Impact BioMedical, Inc. A copy
of this press release is filed as Exhibit 99.1 hereto and is incorporated herein by reference.</FONT></P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">(a) Financial
Statements of Business Acquired.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The audited consolidated financial statements
of Impact BioMedical, which include the consolidated balance sheets as of December 31, 2019 and December 31, 2018, the consolidated
statement of operations for the years ended December 31, 2019 and December 31, 2018, the consolidated statements of stockholders&rsquo;
equity for the years ended December 31, 2019 and December 31, 2018, the consolidated statements of cash flows for the years ended
December 31, 2019 and December 31, 2018 and the notes related thereto (collectively, the &ldquo;Audited Consolidated Financial
Statements&rdquo;); and unaudited condensed interim consolidated financial statements of Impact BioMedical, which include the
consolidated balance sheets as of March 31, 2020 and December 31, 2019, the consolidated statement of operations for the three
months ended March 31, 2020 and December 31, 2019, the consolidated statements of stockholders&rsquo; equity for the period ended
March 31, 2020 and March 31, 2019, the consolidated statements of cash flows for the three months ended March 31, 2020 and March
31 ,2019, and the notes related thereto (collectively, the &ldquo;Interim Unaudited Consolidated Financial Statements&rdquo;)
are included as Exhibit 99.2 and 99.3, respectively, to this Current Report on Form 8-K and incorporated herein by reference.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">As permitted by
Item 9.01(a)(4) of Form&nbsp;8-K,&nbsp;the financial statements for the interim period ending June 30, 2020 required by Item 9.01(a)
of Form&nbsp;8-K, &nbsp;will be filed by the Company by an amendment to this Current Report on Form&nbsp;8-K&nbsp;not later than
71 days after the date upon which this Current Report on Form&nbsp;8-K&nbsp;must be filed.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">(b) Pro Forma
Financial Information.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company and Impact BioMedical&rsquo;s
unaudited pro forma condensed combined financial statements, which include the unaudited pro forma condensed combined balance
sheet as of March 31, 2020 and December 31, 2019, the unaudited pro forma condensed combined statement of operations for the three
months ended March 31, 2020 and for the year ended December 31, 2019, and the notes related thereto, are included as Exhibit 99.4,
respectively, to this Current Report on Form 8-K and incorporated herein by reference</P>

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

<P STYLE="text-align: justify; margin: 0">As permitted by Item 9.01(b)(2) of Form&nbsp;8-K,&nbsp;the pro forma financial information
for the interim period ending June 30, 2020 required by Item 9.01(b) of Form 8-K will be filed by the Company by an amendment
to this Current Report on Form&nbsp;8-K&nbsp;not later than 71 days after the date upon which this Current Report on Form&nbsp;8-K&nbsp;must
be filed.</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 48px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Exhibits</U></FONT></TD></TR>
</TABLE>
<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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 0.75in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; width: 0.1in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1
    </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">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><A HREF="ex3-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Amendment of Certificate of Incorporation of Document Security Systems, Inc.</FONT></A></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</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">&nbsp;</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"><A HREF="ex99-1.htm">Press
    Release issued August 21, 2020.</A></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.2</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">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/771999/000149315220010777/ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Impact BioMedical&rsquo;s Audited Consolidated Financial Statements and the notes related thereto (incorporated by reference to exhibit 99.1 to Form 8-K/A dated June 8, 2020).</FONT></A></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.3</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">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/771999/000149315220010777/ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Impact BioMedical&rsquo;s Interim Unaudited Consolidated Financial Statement and the notes related thereto (incorporated by reference to exhibit 99.2 to Form 8-K/A dated June 8, 2020).</FONT></A></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.4</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">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/771999/000149315220010777/ex99-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unaudited Pro Forma Condensed Combined Financial Statements of DSS and Impact BioMedical and the notes related thereto (incorporated by reference to exhibit 99.3 to Form 8-K/A dated June 8, 2020).</FONT></A></TD></TR>
</TABLE>
<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>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 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; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to
be signed on its behalf by the undersigned hereunto duly authorized.</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DOCUMENT
    SECURITY SYSTEMS, INC.</B></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><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: 5%"><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: 45%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:
    August 27, 2020 </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/
    Frank D. Heuszel</I></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Frank
    D. Heuszel</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer and Interim Chief Financial Officer</FONT></TD></TR>
</TABLE>
<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>


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<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>ex3-1.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 3.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; 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: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CERTIFICATE
OF AMENDMENT OF CERTIFICATE OF </B></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>&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
OF DOCUMENT SECURITY SYSTEMS, INC.</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>&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>UNDER
SECTION 805 OF THE BUSINESS CORPORATION LAW</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
undersigned, being the Chief Executive Officer of Document Security Systems, Inc. (the &ldquo;Corporation&rdquo;)</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a corporation organized and existing
under Business Corporation Law of the State of New York (the &ldquo;NYBCL&rdquo;), hereby certifies as follows, pursuant to Sections
502 and 805 of the NYBCL:</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%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><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: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt;letter-spacing: -0.05pt">(1)</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">The
    name of the Corporation is Document Security Systems, Inc. The name under which the Corporation was formed was Thoroughbr</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434; letter-spacing: 0.25pt">e</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt;letter-spacing: 0.25pt">ds</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444; letter-spacing: 0.25pt">,
    </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S.A.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">,
    </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In <FONT STYLE="letter-spacing: -0.15pt">c</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #575959; letter-spacing: -0.15pt">.</FONT></TD></TR>
</TABLE>
<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%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><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: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</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">The
    Certificate of Incorporation of the Corporation (the <B>&ldquo;Certificate of I<FONT STYLE="letter-spacing: -0.25pt">ncorporation</FONT></B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434; letter-spacing: -0.25pt">&rdquo;</FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt;letter-spacing: -0.25pt">)
    </FONT></B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">was originally filed
    on May <FONT STYLE="letter-spacing: -0.2pt">30</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444; letter-spacing: -0.2pt">,
    </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1 <FONT STYLE="letter-spacing: -0.2pt">984</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434; letter-spacing: -0.2pt">.</FONT></TD></TR>
</TABLE>
<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%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><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: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</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">This
    Certificate of Amendm</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">e</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">nt
    to the Certificate of Incorporation was authorized by the vote of the Board of Directors of the Corporation pursuant to Section
    502 of the New York Business Corporation Law.</FONT></TD></TR>
</TABLE>
<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%">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><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: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</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">The
    Corporation is currently </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434; letter-spacing: 0.15pt">a</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt;letter-spacing: 0.15pt">uthorized
    </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">to issue 200</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">,</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">000</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">,</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">000
    shares of Common Stock, with a par value of $0</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">02.
    The amendment to th</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">e </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate
    of Incorporation effected by this Certificate of Amendment is to increase the total number of aut110rized shares the Corporation
    shall have the authority to issue by adding 200,000</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">,</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">000
    shares of Preferred Stock, with a par value of $0.02, of which 46</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">,</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">868
    shares will be designated Series A Preferred Stock for a total of 400,000,000 shares, with a par value of $0.02</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">,
    </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">of which 200,000,000 shares,
    with a par value of $0.02</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">,
    </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">are designated Common Stock,
    I 99,953, I 32 shares, with a par value of $0</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">02,
    will be designated Preferred Stock, and 46</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">,</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">868
    shares, with a par value of $0.02, will be designated Series A Preferred Stock</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #575959">.</FONT></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; text-indent: 1.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
the <FONT STYLE="letter-spacing: 0.1pt">C</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434; letter-spacing: 0.1pt">e</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt;letter-spacing: 0.1pt">rtificate
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">of Incorporation authorizes the
<FONT STYLE="letter-spacing: 0.2pt">i</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434; letter-spacing: 0.2pt">s</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt;letter-spacing: 0.2pt">suance
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">of up to 200,000,000 shares of
preferred stock, par value <FONT STYLE="letter-spacing: -0.15pt">0</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434; letter-spacing: -0.15pt">.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt;letter-spacing: -0.15pt">02
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">per share, of the Corporation
<FONT STYLE="letter-spacing: -0.15pt">(</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444; letter-spacing: -0.15pt">&ldquo;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prefer<FONT STYLE="letter-spacing: 0.25pt">red
</FONT><FONT STYLE="letter-spacing: -0.15pt">Stock</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444; letter-spacing: -0.15pt">&rdquo;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">) in on</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">e
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">or more series, and expressly
authorizes the Board of Directors of the Corporation (the </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">&ldquo;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Board&rdquo;) </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">subject to limitations prescribed
by law, to <FONT STYLE="letter-spacing: -0.15pt">provide </FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">out of t11e unissued shares of
Preferred Stock</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">, </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">for
series of Preferred <FONT STYLE="letter-spacing: -0.35pt">Stock</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434; letter-spacing: -0.35pt">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt;letter-spacing: 0.15pt">and</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434; letter-spacing: 0.15pt">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">with respect to each such series,
to establish and fix the number of shares to be included in any series of Preferr</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">e</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">d
Stock and the designation, rights</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">preferences, powers, restrictions,
and limitations of the <FONT STYLE="letter-spacing: 0.1pt">shar</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434; letter-spacing: 0.1pt">e</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt;letter-spacing: 0.1pt">s
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">of such <FONT STYLE="letter-spacing: 0.1pt">series</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444; letter-spacing: 0.1pt">;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">and</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; text-indent: 0.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">, </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">it
is the desire of the Board to establish and fix the number of shares to be included in a new series of Preferred Stock and the
designation, ri</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">g</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">hts
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">, </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">preferences,
and limitations of the shar</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">e</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">s
of such new series</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">.</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; text-indent: 0.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOW,
THEREFORE, BE IT RESOLVED, that the Board does hereby provide for the issue of a series of Preferred Stock and does hereby establish
and fix and herein state and express the designation, rights, preferences</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">powers, restrictions, and limitations
of such series of Preferred Stock, and paragraph FOURTH relating to the stock of the Corporation is hereby amended to read as
follows:</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; text-indent: -0.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;FOURTH:
The Corporation is authorized to issue 400</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">,</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">000</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">,</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">000
shares, with a par value of $0.02, consisting of 200,000,000 shares of Common Stock, with a par value of $0</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">02</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">199</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">,</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">953,132
shares of Preferred Stock</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">, </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">with
a par value of $0</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">02,
and 46,868 shares of Series A Preferred Stock, with a par value of $0</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">02</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">.
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #B3B3B3">.</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; text-indent: 22.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
<U>Designation.</U> There shall be a series of Preferred Stock that shall be designated as &ldquo;Series A Convertible Preferred
Stock&rdquo; (the &ldquo;Series A Preferred Stock&rdquo;) and the number of Shares constituting such series shall be Forty </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">-</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">six
Thousand Eight Hundred Sixty-eight (46,868)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">.
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The rights, preferences</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #424444">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">powers, restrictions, and limitations
of the Series A Preferred Stock shall be as set forth herein.</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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<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; text-indent: 22.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt;letter-spacing: -0.3pt">2.
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Defined Terms</U></FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">.
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For purpo</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">s</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">e</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">s
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">h</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">e</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reof</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the following terms shall have
the following meanings:</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #333434"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.3pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #333434">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #333434">&ldquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beneficial Ownership Limitation&rdquo;
has the meaning set forth in Section 8. I(c)(ii).</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131"><B>&ldquo;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">Board&rdquo;
</FONT></B><FONT STYLE="color: #131516; font: 10pt Times New Roman, Times, Serif">has the meaning set forth in the Recitals.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131"><B>&ldquo;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">Business
Day&rdquo; </FONT></B><FONT STYLE="color: #131516; font: 10pt Times New Roman, Times, Serif">means any day, except a Saturday,
Sunday or legal holiday, on which banking institutions in the city of New York, New York, are authorized or obligated by law or
executive order to close.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Certificate
of Designation&rdquo; </B>means this Certificate of Amendment.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131"><B>&ldquo;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">Certificate
of Incorporation&rdquo; </FONT></B><FONT STYLE="color: #131516; font: 10pt Times New Roman, Times, Serif">has the meaning set
forth in the Recitals </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516"><B>&ldquo;Common
Stock&rdquo; </B>means the common stock</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">par value $0.02 per share</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">of the Corporation.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131"><B>&ldquo;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">Convertible
Securities&rdquo; </FONT></B><FONT STYLE="color: #131516; font: 10pt Times New Roman, Times, Serif">means any securities (directly
or indirectly) convertible into or exchangeable for Common Stock</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">but excluding Options </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131"><B>&ldquo;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">Corporation
</FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">&ldquo; </FONT></B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">has
the meaning set forth in the Preamble</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131"><B>&ldquo;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">Conversion
Price&rdquo; </FONT></B><FONT STYLE="color: #131516; font: 10pt Times New Roman, Times, Serif">shall initially be <B>$6.48 </B>per
share of Common Stock, subject to adjustment s provided in Section 8.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 33.9pt; text-align: justify; text-indent: 33.45pt; color: #525454"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #525454; letter-spacing: -0.15pt"><B>&ldquo;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516; letter-spacing: -0.15pt">Conversi</FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">on
Shares</FONT></B><B> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">&ldquo;</FONT></B>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">means the shares of Common Stock or
other capital stock of the Corporation then issuable upon conversion of the Series A Preferred Stock in accordance with the terms
of Section 8.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516"><B>&ldquo;Date
of Issuance</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">&rdquo; </FONT></B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">means,
for any Share of Series A Preferred Stock, the date on which the Corporation initially issues such Share (without regard to any
subsequent transfer of such Share or reissuance of the certificate(s) representing such Share)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #414242">.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131"><B>&ldquo;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">Dollar
&ldquo; </FONT></B><FONT STYLE="color: #131516; font: 10pt Times New Roman, Times, Serif">or&rdquo;$&rdquo; means the lawful currency
of 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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131"><B>&ldquo;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">Exchange
Act&rdquo; </FONT></B><FONT STYLE="color: #131516; font: 10pt Times New Roman, Times, Serif">means the U</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #414242">.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">S.
Securities Exchange Act o</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">f </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">1934
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">, </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">as
amended, or any successor federal statute, and the rules and regulations thereunder</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #414242">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">which shall be in effect at the
time.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516"><B>&ldquo;Fair
Market Value&rdquo; </B>means </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #414242">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">as of any particular date: (a)
the volume weighted average of the closing sales prices of the Common Stock for such day on all domestic securities exchanges
on which the Common Stock may at the time be listed; (b) if there have been no sales of the Common Stock on any such exchange
on any such day, the average of the highest bid and lowest asked prices for the Common Stock on all such exchanges at <FONT STYLE="letter-spacing: 0.1pt">th</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131; letter-spacing: 0.1pt">e
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">end of such day</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #414242">;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">(c) if on any such day the Common
Stock is not listed on a domestic securities e</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">x</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">change,
th</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">e </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">closing
sales price of the Common Stock as quoted on the OTC Markets or similar quotation system or association for such <FONT STYLE="letter-spacing: 0.15pt">day</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131; letter-spacing: 0.15pt">;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">or (d) if there have been no
sales of the Common Stock on the OTC Markets or similar quotation system or association on such day</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">the average of the highest bid
and lowest asked prices for the Common Stock quoted on the Pink OTC Markets or similar quotation system or association at the
end of such <FONT STYLE="letter-spacing: 0.2pt">day</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131; letter-spacing: 0.2pt">;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">in each case</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #414242">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">averaged over twenty (20) consecutive
Business Days ending on the Business Day immediately prior to the day as of which &ldquo;Fair <B>Market </B>Value&rdquo; is being
determined; <FONT STYLE="letter-spacing: 0.1pt"><U>provided</U></FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131; letter-spacing: 0.1pt">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">that if the Common Stock is listed
on any domestic securities exchange, the term &ldquo;Business Day&rdquo; as used in this sentence means Bus</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">i</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">ness
Days on which such exchange is open for trading. If at any time the Common Stock is not listed on any domestic securities exchange
or quoted on the OTC Markets or similar quotation system or assoc<FONT STYLE="letter-spacing: 0.1pt">iation</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131; letter-spacing: 0.1pt">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">the &ldquo;Fair Market <FONT STYLE="letter-spacing: 0.1pt">Value
</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">&ldquo;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">of
the Common Stock shall be the fair market value per share as determined by the Board in good <FONT STYLE="letter-spacing: 0.1pt">fait</FONT><FONT STYLE="letter-spacing: 0.15pt">h</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #414242; letter-spacing: 0.15pt">.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">&ldquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">Holder Controlled Persons&rdquo;
has the meaning set forth in Section 8</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #525454">.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">1(
c)(ii).</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #414242; letter-spacing: 0.25pt">&ldquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516; letter-spacing: 0.25pt">J</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">unior
Securities </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">&ldquo; </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">means
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">, </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">collective</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">l</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">y</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">the Common Stock and any other
class of securities that is specifically designated as junior to the Series A Preferred Stock</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #414242">.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">&ldquo;Liquidation&rdquo;
has th</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">e </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131516">meaning
set forth in Section 5.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313131">.</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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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #151616"><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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616"><B>&ldquo;Liquidation
</B>Value</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">&rdquo; </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">means</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">with respect to any Share on
any given date, <B>One Thousand Dollars ($1,000) </B>(as adjusted for any stock splits, stock dividends, recapitalizations, or
similar transaction with respect to the Series A Preferr</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">e</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">d
Stock).</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616"><B>&ldquo;Options&rdquo;
</B>means any warrants or other rights or options to subscribe for or purchase Common Stock or Convertible Securities</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616"><B>&ldquo;Person&rdquo;
</B>means an individual, corporation</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">partnership, joint venture, limited
liability company, governmental authority</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">unincorporated organization</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #444646">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">trust, association, or other
entity</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">&ldquo;Preferred
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">Stock&rdquo; has the meaning
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">s</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">et
forth in the Recitals.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Principal
Market&rdquo; means the principal stock exchange or market on which the Corporation&rsquo;s Common Stock is traded (or if not
trading, the principal stock exchange or market on which listed or quoted), including any market operated by OTC Markets or any
other stock exchange or market.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">&ldquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">Securities
Act<FONT STYLE="letter-spacing: -1.35pt">&rdquo;</FONT> means the U.S. Securities Act of 1933, as amended, or any successor federal
statute, and the rules and regulations thereunder, which shall be in effect at the time.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">&ldquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">Series
A Conversion Election Date&rdquo; has the meaning set forth in Section 7</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #444646">.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77.95pt; text-align: justify; text-indent: 0.2pt; color: #313433"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">&ldquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">Series
A Holder Conversion Notice&rdquo; has the meaning set forth in Section 8</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">2(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 76.8pt; text-align: justify; text-indent: 0.85pt; color: #313433"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">&ldquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">Series
A Mandatory Conversion Notice&rdquo; has the meaning set forth in Section 8.2(b). </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 76.8pt; text-align: justify; text-indent: 0.85pt; color: #151616"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">&ldquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">Series
A Mandatory Conversion Date&rdquo; has the meaning set forth in Section 8</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">2(b)(ii)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 76.8pt; text-align: justify; text-indent: 0.85pt; color: #313433"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433"><B>&ldquo;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">Series
A Preferred Stock</FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">&rdquo;
</FONT></B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">has the meaning set forth
in Section I </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 74.4pt; text-align: justify; text-indent: 1.9pt; color: #313433"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433; letter-spacing: -0.2pt"><B>&ldquo;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616; letter-spacing: -0.2pt">Series
A</FONT></B><B> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">Redemptio<FONT STYLE="letter-spacing: -0.25pt">n</FONT></FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #444646; letter-spacing: -0.25pt">&rdquo;
</FONT></B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">has the meaning set forth
in Section <FONT STYLE="letter-spacing: 0.15pt">7</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #444646; letter-spacing: 0.15pt">.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616; letter-spacing: 0.15pt">1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #444646; letter-spacing: 0.15pt">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 74.4pt; text-align: justify; text-indent: 1.9pt; color: #151616"><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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&ldquo;Series
A Redemption Date&rdquo; </B>has the meaning set forth in Section 7.2.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 74.4pt; text-align: justify; text-indent: 1.9pt; color: #313433"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433; letter-spacing: -0.2pt"><B>&ldquo;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616; letter-spacing: -0.2pt">Series
</FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">A Redemption Notice </FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">&ldquo;
</FONT></B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">has the meaning set forth
in Section 7.2</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #151616"><B>&ldquo;Series
A Redemption Price&rdquo; </B>has the meaning set forth in Section <FONT STYLE="letter-spacing: 0.1pt">7.1</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433; letter-spacing: 0.1pt">.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.05pt; text-align: justify; text-indent: 35.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616"><B>&ldquo;Share&rdquo;
</B>means a shar</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">e </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">of
Series A Preferred Stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.7pt; text-align: justify; text-indent: 33.45pt; color: #313433"><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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433"><B>&ldquo;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">Subsidiary&rdquo;
</FONT></B><FONT STYLE="color: #151616; font: 10pt Times New Roman, Times, Serif">means </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">with respect to any Person, any
other Person of which a majority of the outstanding shares or other equity interests having the power to vote for directors or
comparable managers are owned</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">directly or indirectly, by the
first Per</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">s</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">on</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #444646">.</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 0pt 30.05pt; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433"><B>&ldquo;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">Supermajority
Interest&rdquo; </FONT></B><FONT STYLE="color: #151616; font: 10pt Times New Roman, Times, Serif">means hold</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">e</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">rs
of not less than two-thirds of the then total outstanding Shares of Series A Preferred Stock.</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; text-indent: 20.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616; letter-spacing: -0.3pt">3.
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616"><U>Rank</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">.
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">With respect to payment distribution
of assets upon liquidation, dissolution, or winding up of the Corporation, whether voluntary or involuntary, all Shares of the
S</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">e</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">ries
A Preferred Stock shall rank senior to all Junior 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 20.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616; letter-spacing: -0.3pt">4.
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616"><U>No Dividends.</U> Notwithstanding
any provision of the Certificate of Incorporation or of the NYBCL to the contrary</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #444646">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">no dividends shall accrue <FONT STYLE="letter-spacing: -0.2pt">o</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433; letter-spacing: -0.2pt">r
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">be payable upon the Series A
Preferred Stock, whether or not any dividends are declared by the Board on the Common Stock or any other class or series of capital
stock of the Corporation, and whether or not there are funds legally av</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #313433">a</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #151616">ilable
for the payment of dividends.</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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<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; text-indent: 20.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.3pt">5.
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Liquidation.</U></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 0pt 23.9pt; text-align: justify; text-indent: 27.85pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.45pt">5.1
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Liquidation.</U> In the event of any voluntary
or involuntary liquidation, dissolution or winding up of the Corporation (a <B>&ldquo;Liquidation&rdquo;), </B>the holders of
Shares of Series A Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Corporation available
for distribution to its stockholders, before any payment shall be made to the holders of Junior Securities by reason of their
ownership thereof, an amount in cash equal to the aggregate Liquidation Value of all Shares held by such holder.</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 0pt 23.9pt; text-align: justify; text-indent: 27.85pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.45pt">5.2
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>No Participation with Junior Securities on
Liquidation.</U> After payment in full of all preferential amounts required to be paid to the holders of Series A Preferred Stock
upon a Liquidation under this Section 5, the holders of Shares of Series A Preferred Stock then outstanding shall not be entitled
to participate with the holders of shares of Junior Securities or any other class or series of the Corporation&rsquo;s capital
stock then outstanding in the distribution of any of the remaining assets and funds of the Corporation available for distribution
to its stockholders.</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 0pt 23.9pt; text-align: justify; text-indent: 27.85pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616; letter-spacing: -0.45pt">5.3
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616"><U>Insufficient Assets</U></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #38383A">. </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">If
upon any Liquidation the remaining assets of the Corporation available for distribution to its stockholders shall be insufficient
to pay the holders of the Shares of Series A Preferred Stock the full preferential amount to which <FONT STYLE="letter-spacing: 0.1pt">th</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #38383A; letter-spacing: 0.1pt">e
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">y are entitled under Section
5.1, (a) the holders of the Shares shall share ratably in any distribution of the remaining assets and funds of the Corporation
in proportion to the respective full preferential amounts which would otherwise be payable in respect of the Series A Preferred
Stock in the aggregate upon such Liquidation if all amounts payable on or with respect to such Shares were paid in full, and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.9pt; text-align: justify; color: #131616"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
the Corporation shall not make or agree to make any payments to the holders of Junior 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.9pt; text-align: justify; text-indent: 27.85pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.45pt">5.4
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Notice</U>. In the event of any Liquidation,
the Corporation shall, within ten (10) Business Days after the date the Board approves such action, or no later than ten (10)
Business Days prior to any stockholders&rsquo; meeting called to approve such action, or within ten (10) Business Days after the
commencement of any involuntary proceeding, whichever is earlier, give each holder of Shares of Series A Preferred Stock written
notice of the action or proposed action. Such written notice shall describe the material terms and conditions of such action or
proposed action, including a description of the stock, cash, and property to be received by the holders of Shares upon consummation
of the proposed action and the date of delivery thereof. If any material change in the facts set forth in the initial notice shall
occur, the Corporation shall promptly give <FONT STYLE="letter-spacing: -0.15pt">written </FONT>notice to each holder of Shares
of such material change.</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; text-indent: 20.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616; letter-spacing: -0.3pt">6.
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616"><U>No Voting Rights</U></FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #38383A">. </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">Notwithstanding
any provision of the Certificate of Incorporation to the contrary, unless and only to the extent expressly required by the NYBCL
or other applicable law, rule or regulation (including the rules of any exchange upon which securities of the corporation may
be listed), no holder of outstanding Shares of Series A Preferred Stock shall be entitled to vote on any matter presented or required
to be presented to the stockholders of the Corporation for their action or consideration <FONT STYLE="letter-spacing: 0.15pt">(in</FONT>clud<FONT STYLE="letter-spacing: 0.1pt">ing</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #4F5052; letter-spacing: 0.1pt">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">without limitation</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #38383A">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">the election of directors of
the Corporation), nor shall be entitled to notice of any stockholder meeting (or requests for written consent of stockholders)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #38383A">.</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; text-indent: 20.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616; letter-spacing: -0.3pt">7.
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616"><U>Redemption</U></FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #646664">.</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 0pt 23.9pt; text-align: justify; text-indent: 27.85pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616; letter-spacing: -0.45pt">7.1
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616"><U>Redemption.</U> At any time
and from time to time on or after the Date of Issuance</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #38383A">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">the Corporation shall have the
right to redeem, out of funds legally available <FONT STYLE="letter-spacing: -0.15pt">therefor</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #38383A; letter-spacing: -0.15pt">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">all or any portion of the then
outstanding Shares of Series A Preferred Stock</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #38383A">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">pro rata among all holders of
Series A Preferred Stock</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #38383A">, </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">redeemed
by the Corporation (a &ldquo;Series A Redemption </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #38383A">&ldquo;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">) for a price per Share equal
to the Liquidation Value for such Share (the <B>&ldquo;Series A Redemption Price&rdquo;). </B>All holders of Series A Preferred
Stock shall be bound by a Series A Redemption effected as provided in this Section 7 to have all, or in the case of an election
by the Corporation to redeem less than all of the outstanding Shares of Series A Preferred Stock, the same pro rata portion of
their Shares, redeemed pursuant to this Section 7; provided, that notwithstanding anything to the contrary contained herein</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #38383A">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">each holder of Shares of Series
A Preferred Stock shall have the right to elect prior to the Series A Conversion Election Date to give effect to the conversion
rights contained in Section 8 instead of giving effect to the provisions contained in this Section 7 with respect to all or any
Shares of Series A Preferred Stock held by such holder. In exchange for the surrender to the Corporation by the respective holders
of Shares of Series A Preferred Stock of their certificate or certificates representing such Shares in accordance with Section
7.4 below, the aggregate Series A Redemption Price for</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2A2B2B">all
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">Shares held by each holder of
Shares shall be payable in cash (or tendered for payment) in </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2A2B2B">immediately
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">available </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2A2B2B">funds
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">to the respective holders of
the Series A Preferred Stock on the applicable Series A Redemption Date, subject to the provisions of Sections 7.3 and 7.4.</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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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #131616"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.45pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.9pt; text-align: justify; text-indent: 27.85pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616; letter-spacing: -0.45pt">7.2
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616"><U>Redemption Notice.</U> Not
less than thirty (30) days prior to the Series A Redemption Date, the Corporation shall send written notice (the </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2A2B2B">&ldquo;Series
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">A Redemption Notice&rdquo;) of
a Series A Redemption to each holder of record of outstanding Series A Preferred Stock. Each Series A Redemption Notice shall
state:</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 0pt 48.7pt; text-align: justify; text-indent: 34.45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616; letter-spacing: -0.05pt">(a)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">the number of Shares of Series
A Preferred Stock outstanding, the number of Shares of Series A Preferred Stock that the Corporation shall redeem in the aggregate,
and the number of Shares of Series A Preferred Stock held by </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2A2B2B">the
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">holder that the Corporation </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2A2B2B">shall
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">redeem on the Series A Redemption
Date specified in the Series A Redemption Notice;</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 0pt 48.8pt; text-align: justify; text-indent: 33.85pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616; letter-spacing: -0.05pt">(b)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">the date of the closing of the
redemption (the applicable date, the </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2A2B2B"><B>&ldquo;Series
</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">A Redemption Date&rdquo;)
</FONT></B><FONT STYLE="color: #131616; font: 10pt Times New Roman, Times, Serif">and the Series A Redemption Price per</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2A2B2B">share;</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 0pt 47.9pt; text-align: justify; text-indent: 34.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616; letter-spacing: -0.05pt">(c)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">the date upon </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2A2B2B">which
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">the holder&rsquo;s right to convert
its Shares pursuant to Section 8 terminates, which date shall be no earlier than five (5) days before the Series A Redemption
Date (the applicable date, the </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2A2B2B"><B>&ldquo;Series
</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">A </FONT></B><FONT STYLE="color: #131616; font: 10pt Times New Roman, Times, Serif">Conversion
Election <B>Date&rdquo;);</B> and</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 0pt 47.15pt; text-align: justify; text-indent: 34.6pt; color: #131616"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(d)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the manner and place designated for surrender
by the holder to the Corporation of his, her or its certificate or certificates representing the Shares of Series A Preferred
Stock to be redeemed, or, in the event a certificate or certificates are lost, stolen or missing, the manner and place of delivering
an affidavit of loss with respect thereto.</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 0pt 23.9pt; text-align: justify; text-indent: 27.85pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.45pt">7.3
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: 0.1pt"><U>Insufficient</U></FONT><U>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Funds: Remedies for Nonpayment.</FONT></U></P>

<P STYLE="font: 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 0pt 48.7pt; text-align: justify; text-indent: 34.45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616; letter-spacing: -0.05pt">(a)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616"><U>Insufficient Funds</U>. If
on any Series A Redemption Date, the assets of the Corporation legally available are insufficient to pay the full Series A Redemption
Price for the total number of Shares elected to be redeemed pursuant to Section <FONT STYLE="letter-spacing: -0.2pt">7</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #565657; letter-spacing: -0.2pt">.
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">I, the Corporation shall (i)
take all appropriate action reasonably within its means to maximize the assets legally </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2A2B2B">available
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">for paying the Series A Redemption
Price, (ii) redeem out of all such assets legally available therefor on the applicable Series A Redemption Date the maximum possible
number of Shares that it can redeem on such date, <I>pro rata </I>among the holders of such Shares to be redeemed in proportion
to the aggregate number of Shares elected to be redeemed by each such holder on the applicable Series A Redemption Date and (iii)
following the applicable Series A Redemption Date, at any time and from time to time when additional assets of the Corporation
become legally available to redeem the remaining Shares, the Corporation shall immediately use such assets to pay the remaining
balance of the aggregate applicable Series A Redemption Price.</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 0pt 48.7pt; text-align: justify; text-indent: 34.45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(b)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Effect of Nonpayment.</U> If on any Series
A Redemption Date, all of the Shares elected to be redeemed pursuant to a Series A Redemption Notice are not redeemed in full
by the Corporation by paying the entire Series A Redemption Price, until any such Shares are fully redeemed and the aggregate
Series A Redemption Price paid in full, the unredeemed Shares shall remain outstanding and continue to have the rights, preferences,
and privileges expressed herein.</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 0pt 23.9pt; text-align: justify; text-indent: 27.85pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616; letter-spacing: -0.45pt">7.4
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616"><U>Surrender of Certificates.
</U>On or before the Series A Redemption Date, each holder of Shares of Series A Preferred Stock not otherwise electing prior
to the Series A Conversion </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2A2B2B">Election
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">Date to convert its Shares pursuant
to Section 8 </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2A2B2B">shall </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">surrender
the certificate or certificates representing such Shares to the Corporation, in the manner and place designated in the Series
A Redemption Notice, duly assigned or endorsed for transfer to the Corporation (or accompanied by duly executed stock powers relating
thereto), or, in the event the certificate or certificates </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2A2B2B">are
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616">lost, stolen or missing, shall
deliver an affidavit of loss, in the manner and place designated in the Series A Redemption Notice. Each surrendered certificate
shall be canceled and retired, and the Corporation shall thereafter make payment of the applicable Series A Redemption Price by
certified check or wire transfer to the holder of record of such certificate; <I>provided, </I>that if less than all the Shares
represented by a surrendered certificate are redeemed, then a new stock certificate representing the unredeemed Shares shall be
<FONT STYLE="letter-spacing: -0.05pt">issue</FONT>d in the name of the applicable holder of record of canceled stock certificate.</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"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #131616"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.9pt; text-align: justify; text-indent: 27.85pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515; letter-spacing: -0.45pt">7.5
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515"><U>Rights Subsequent to Redemption.</U> If on the applicable Series A Redemption Date, the Series A Redemption Price is <FONT STYLE="letter-spacing: 0.1pt">pa</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636; letter-spacing: 0.1pt">i</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515; letter-spacing: 0.1pt">d
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">(or tendered for payment) for
any of the Shares to be redeemed on such Series A Redemption Date</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">then on such date all rights
of the holder in the Shares so redeemed and paid or tendered </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">including any rights to <FONT STYLE="letter-spacing: 0.1pt">divid</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636; letter-spacing: 0.1pt">e</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515; letter-spacing: 0.1pt">nds
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">on such Shares, shall cease,
and such Shares shall no longer be deemed issued and outstanding.</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; text-indent: 20.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515; letter-spacing: -0.3pt">8.
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515"><U>Conversion</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636">.</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 0pt 23.9pt; text-align: justify; text-indent: 27.85pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.45pt">8.1
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Right to Convert: Mandatory Conversion: Limitations.</U></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 0pt 48.7pt; text-align: justify; text-indent: 34.45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616; letter-spacing: -0.05pt">(a)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515"><U>Right to Convert</U>. Subject
to the provisions of this Section 8, at any time and from time to time on or after the Date of Issuance</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">any holder of Series A Preferred
Stock shall have the right by written election to the Corporation to convert all or any portion of the outstanding Shares of Series
A Preferred Stock (including any fraction of a Share) held by such holder into an aggregate number of shares of Common Stock as
is determined by (i) multiplying the number of Shares (including any fraction of a Share) to be converted by <FONT STYLE="letter-spacing: 0.2pt">th</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636; letter-spacing: 0.2pt">e
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">Liquidation Value thereof, and
then (ii) dividing the result by the Conversion Price in effect immediately prior to such conversion</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636">.</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 0pt 48.7pt; text-align: justify; text-indent: 34.45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616; letter-spacing: -0.05pt">(b)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515"><U>Mandatory Conversion</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #545454">.
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">Subject to the provisions of
this Section 8, at any time and from time to time on or after the Date of Issuance </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">the Corporation shall have the
right to convert all or any portion of the then outstanding Shares of Series A Preferred Stock</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">pro rata among all holders of
Series A Preferred Stock; without any action by the relevant holder of such Shares, into an aggregate number of shares of Common
Stock as is determined by (i) multiplying the number of Shares (including any fraction of a Share) to be converted by the Liquidation
Value thereof, and then (ii) dividing the result by the applicable Conversion Price then in effect.</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 0pt 48.7pt; text-align: justify; text-indent: 34.45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131616; letter-spacing: -0.05pt">(c)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515"><U>Limitations on Conversio<FONT STYLE="letter-spacing: 0.15pt">n</FONT></U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636; letter-spacing: 0.15pt">.
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">Notwithstanding Section 8.1(a),
a holder of Series A Preferred Stock shall have no right to convert all or any portion of any Share of Series A Preferred Stock
as and to the extent provided <FONT STYLE="letter-spacing: -0.2pt">b</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636; letter-spacing: -0.2pt">e
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">lo<FONT STYLE="letter-spacing: -0.15pt">w</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #545454; letter-spacing: -0.15pt">:</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 0pt 81.45pt; text-align: justify; text-indent: 35.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515; letter-spacing: -0.05pt">(i)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515"><U>Insufficient Number of Authorized
Shares</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636">.</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">To
the extent, and only to the extent, that the number of shares of the Corporation&rsquo;s Common Stock to be issued upon such conversion
exceeds the number of authorized but unissued shares of Common Stock.</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 0pt 79.05pt; text-align: justify; text-indent: 36.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515; letter-spacing: -0.05pt">(ii)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515"><U>Beneficial Ownership Limitation</U>.
To the extent that after giving effect to such issuance after conversion as set forth on the applicable Series A Holder Conversion
Notice </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636">, </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">the
holder (together with the holder&rsquo;s subsidiaries, and any other persons controlled by the holder <FONT STYLE="letter-spacing: -0.15pt"><B>(</B></FONT></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636; letter-spacing: -0.15pt">&ldquo;</FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515; letter-spacing: -0.15pt">Holder
</FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">Controlled Persons&rdquo;))
</FONT></B><FONT STYLE="color: #131515; font: 10pt Times New Roman, Times, Serif">would beneficially own in excess of the Beneficial
Ownership Limitation</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636">. </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">For
purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the holder and Holder Controlled
Persons shall include the number of shares of Common Stock issuable upon conversion of the Shares of Series A Preferred Stock
to be converted with respect to which such determination is being made, but shall exclude the number of </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636; letter-spacing: 0.15pt">s</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515; letter-spacing: 0.15pt">hares
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">of Common Stock which would be
issuable upon (i) conversion of the remaining</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636">,
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">unconverted Shares of S</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636">e</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">ries
A Preferred Stock b</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636">e</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">neficially
owned by the holder and Holder Controlled Persons and (ii) exercise or conversion of the unexercised or unconverted portion of
any other securities of the Corporation subject to a limitation on conversion or exercise analogous to the limitation contained
herein beneficially owned by the holder and Holder Controlled Persons</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636">.
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">Exc</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636">e</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">pt
as set forth in the preceding sentence, for purposes of this Section 8.l(c)( ii), beneficial ownership shall be calculated in
accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged
by the holder that the Corporation is not representing to the holder that such calculation is in compliance with Section 13(d)
of the Exchange Act</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #343636">, </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #131515">and
the holder is solely responsible for any forms or schedules required to be filed in connection therewith. To the extent that the
limitation contained in this Section 8.l(c)(ii) applies, the determination of whether Shares of Series A Preferred Stock are convertible
(in relation to other securities beneficially owned by the holder </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">together
with the and Holder Controlled Persons) and of what amount of Shares of Series <B>A </B>Preferred Stock <I>are</I> convertible
shall be in the sole discretion of the holder, and the submission of a Series A Holder Conversion Notice shall be deemed to be
the holder&rsquo;s determination of whether Shares of Series A Preferred Stock are convertible (in relation to other securities
beneficially owned by the holder together with the and Holder Controlled Persons) and of what amount of Shares of Series A Preferred
Stock are convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction,
the holder will be deemed to represent to the Corporation each time it delivers a Series A Holder Conversion Notice that such
Notice of Conversion has not violated the restrictions set forth in this paragraph, and the Corporation shall have no obligation
to verify or confirm the accuracy of such determination. For purposes of this Section 8.1(c)(ii), in determining the number of
outstanding shares of Common Stock, a holder may rely on the number of outstanding shares of Common Stock as reflected in (A)
the Corporation&rsquo;s most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent
public announcement by the Corporation or (C) a more recent written notice by the Corporation or the Corporation&rsquo;s transfer
agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a holder, the Corporation
shall within two (2) Business Days confirm orally and in writing to the holder the number of shares of Common Stock then outstanding.
In any case, the number. of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise
of securities of the Corporation, including Shares of Series A Preferred Stock, by the holder or Holder Controlled Persons since
the date as of which such number of outstanding shares of Common Stock was reported. The <B>&ldquo;Beneficial Ownership Limitation&rdquo;
</B>shall be <B>19.99% </B>(subject to decrease as provided below) of the number of shares of the Common Stock outstanding immediately
after giving effect to the issuance of shares of Common Stock issuable upon conversion of the Shares of Series A Preferred Stock
to be converted. The holder may, at any time, decrease the Beneficial Ownership Limitation, effective immediately upon written
notice to the Corporation. The provisions of this Section 8J(c)(ii)shall be construed and implemented in a manner otherwise than
in strict conformity with the terms of this Section 8.l(c)(ii) to correct this Section 8.l(c)(ii) (or any portion hereof) which
may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements
necessary or desirable to properly give effect to such limitation.</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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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 17.2pt 0pt 80pt; text-align: justify; text-indent: 36.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(iii)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Principal Market Regulation.</U> If the issuance
of such shares of Common Stock would exceed the aggregate number of shares of Common Stock which the Corporation may issue upon
conversion of the Notes without breaching the Corporation&rsquo;s obligations under the rules or regulations of the Principal
Market (the &ldquo;Exchange Cap&rdquo;), if applicable, except that such limitation shall not apply in the event that the Corporation
(A) obtains the approval of its stockholders as required by the applicable rules of the Principal Market for issuances of Common
Stock in excess of such amount or (B) obtains a written opinion from outside counsel to the Corporation that such approval is
not required.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.25pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.9pt; text-align: justify; text-indent: 27.85pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.2
<U>Procedures for Conversion: Effect of Conversion</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 16.7pt 0pt 43.9pt; text-indent: 35.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48.7pt; text-align: justify; text-indent: 34.45pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(a)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Procedures for Holder Conversion.</U> In order
to effectuate a conversion of Shares of Series A Preferred Stock pursuant to Section 8.1(a), a holder shall (a) submit a written
election to the Corporation (a &ldquo;Series A Holder Conversion Notice&rdquo;) that such holder elects to convert Shares. and
the number of Shares elected to be converted, and (b) surrender, along with such written election, to the Corporation the certificate
or certificates representing the Shares being converted, duly assigned or endorsed for transfer to the Corporation (or accompanied
by duly executed stock powers relating thereto) or, in the event the certificate or certificates are lost, stolen, or missing,
accompanied by an affidavit of loss executed by the holder. The conversion of such Shares hereunder shall be deemed effective
as of the date of surrender of such Series A Preferred Stock certificate or certificates or delivery of such affidavit of loss
executed by the holder. Upon the receipt by the Corporation of a written election and the surrender of such certificate(s) and
accompanying materials, the Corporation shall as promptly as practicable (but in any event within ten (10) Business Days thereafter)
deliver to the relevant holder (a) a certificate in such holder&rsquo;s name (or the name of such holder&rsquo;s <FONT STYLE="letter-spacing: -1.65pt">desogmee
</FONT>as stated inthe written election) for the number of shares of Common Stock to which such holder shall be entitled upon
conversion of the applicable Shares as calculated pursuant to Section 8.1(a) and, if applicable (b) a certificate in such holder&rsquo;s
(or the name of such holder&rsquo;s designee as stated in the written election) for the number of Shares of Series A Preferred
Stock (including any fractional share) represented by the certificate or certificates delivered to the Corporation for conversion
but otherwise not elected to be converted pursuant to the written election. All shares of capital stock issued hereunder by the
Corporation shall be duly and validly issued, fully paid, and nonassessable, free and clear of all taxes, liens, charges, and
encumbrances with respect to the issuance thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.95pt 0pt 56.7pt; text-align: justify; text-indent: 34.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">&nbsp;</FONT></P>


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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 0.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock
to which such holder shall be entitled upon conversion of the applicable Shares as calculated pursuant to Section 8.1(a) and,
if applicable (b) a certificate in such holder&rsquo;s (or the name of such holder&rsquo;s designee as stated in the written election)
for the number of Shares of Series A Preferred Stock (including any fractional share) represented by the certificate or certificates
delivered to the Corporation for conversion but otherwise not elected to be converted pursuant to the written election. All shares
of capital stock issued hereunder by the Corporation shall be duly and validly issued, fully paid, and nonassessable, free and
clear of all taxes, liens, charges, and encumbrances with respect to the issuance thereof.</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 0pt 56.7pt; text-align: justify; text-indent: 34.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(b)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Procedures for Mandatory Conversion</U>. To
effect a mandatory conversion of Shares of Series A Preferred Stock as provided in Section 8.l(b) , not less than thirty (30)
days prior to the Series A Mandatory Conversion Date, the Corporation shall send to each holder of Shares of Series A Preferred
Stock written notice thereof(the <B>&ldquo;Series A Mandatory Conversion Notice&rdquo;), </B>which shall state:</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 0pt 90.55pt; text-align: justify; text-indent: 35.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(i)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the number of Shares of Series A Preferred Stock
outstanding, the number of Shares of Series A Preferred Stock that the Corporation shall convert in the aggregate, and the number
of Shares of Series A Preferred Stock held by the holder that the Corporation shall convert on the Series A Mandatory Conversion
Date specified in the Series A Redemption Notice;</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 0pt 90.55pt; text-align: justify; text-indent: 35.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(ii)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the date of the conversion (the applicable date,
the &ldquo;Series A Mandatory Conversion Date&rdquo;) and the Conversion Price per share in effect; and</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 0pt 90.55pt; text-align: justify; text-indent: 35.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(iii)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the manner and place designated for surrender
by the holder to the Corporation of his, her or its certificate or certificates representing the Shares of Series A Preferred
Stock to be converted, or, in the event a certificate or certificates are lost, stolen or missing, the manner and place of delivering
an affidavit of Joss with respect thereto.</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 0pt 57.4pt; text-align: justify; text-indent: 0.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
receipt of such Series A Mandatory Conversion Notice, each holder shall surrender to the Corporation the certificate or ce11iticates
representing the Shares being converted, in the manner and place designated in the Series A Mandatory Conversion Notice, duly
assigned, or endorsed for transfer to the Corporation (or accompanied by duly executed stock powers relating thereto) or, in the
event the certificate or certificates are lost, stolen, or missing, an affidavit of loss executed by the holder, in the manner
and place designated in the Series A Mandatory Conversion Notice. Upon the surrender of such certificate(s) and accompanying materials,
the Corporation shall as promptly as practicable (but in any event within ten ( I 0) Business Days thereafter) deliver to the
relevant holder a certificate in such holder&rsquo;s name (or the name of such holder&rsquo;s designee as stated in the written
election) for the number of shares of Common Stock to which such holder shall be entitled upon conversion of the applicable Shares.
All shares of Common Stock issued hereunder by the Corporation shall be duly and validly issued, fully paid, and nonassessable,
free and clear of all taxes, liens, charges, and encumbrances with respect to the issuance thereof.</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 0pt 56.7pt; text-align: justify; text-indent: 34.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(c)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Effect of Conversion.</U> All Shares of Series
A Preferred Stock converted as provided in this Section 8.1 shall no longer be deemed outstanding as of the effective time of
the applicable conversion and all rights with respect to such Shares shall immediately cease and terminate as of such time (including,
without limitation, any right of redemption pursuant to Section 7), other than the right of the holder to receive shares of Common
Stock and payment in lieu of any fraction of a Share as provided in Section 8.5 in exchange therefor.</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 0pt 26.65pt; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.3
<U>Restricted Securities</U>. The issuance of any shares of Common Stock upon conversion of Shares of Series A Preferred Stock
will not have been registered under the Securities Act, and such shares of Common Stock will be &ldquo;restricted securities&rdquo;
as defined in Rule 144 under the Securities Act <B>(&ldquo;Rule 144&rdquo;). </B>The certificate(s) representing any shares of
Common Stock issued upon conversion of Shares of Series A Preferred Stock that are not eligible for immediate resale without restriction
pursuant to the registration exemption afforded by Rule 144 at the time they are issued shall bear a restrictive legend in substantially
the following form (and a stop-transfer order may be placed against transfer of such certificates or other instruments):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20.55pt 0pt 22.65pt; text-align: justify; text-indent: 28pt"><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"><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-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 61.65pt 0pt 55pt; text-align: justify; text-indent: 2.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES
ACT&rdquo;), OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, PLEDGED,
ASSIGNED OR OTHERWISE TRANSFERRED UNLESS {l) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES ACT
AND ANY APPLICABLE <FONT STYLE="letter-spacing: 0.1pt">STATE </FONT>SECURITIES LAWS, OR (2) AN EXEMPTION <FONT STYLE="letter-spacing: -0.05pt">FRO</FONT>M
<FONT STYLE="letter-spacing: -0.05pt">SUC</FONT>H <FONT STYLE="letter-spacing: -0.05pt">REGISTRATIO</FONT>N <FONT STYLE="letter-spacing: -0.05pt">EXIST</FONT>S
<FONT STYLE="letter-spacing: -4pt">A</FONT><FONT STYLE="letter-spacing: -0.6pt">_</FONT>ND <FONT STYLE="letter-spacing: -0.05pt">TH</FONT>E
<FONT STYLE="letter-spacing: -0.05pt">COMPAN</FONT>Y <FONT STYLE="letter-spacing: -0.05pt">RECEIVE</FONT>S <FONT STYLE="letter-spacing: -0.05pt">AN
</FONT>OPINION OF COUNSEL TO THE HOLDER OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE SATISFACTORY TO THE COMPANY, THAT SUCH
SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED TN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OR APPLICABLE STATE SECURITIES <FONT STYLE="letter-spacing: -0.2pt">LAWS. </FONT>HEDGING TRANSACTIONS
INVOLYING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES 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 0pt 26.65pt; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.4
<U>Reservation of Stock</U>. The Corporation shall at all times when any Shares of Series A Preferred Stock is outstanding reserve
and keep available out of its authorized but unissued shares of capital stock, solely for the purpose of issuance upon the conversion
of the Series A Preferred Stock, such number of shares of Common Stock issuable upon the conversion of all outstanding Series
A Preferred Stock pursuant to this Section 8, taking into account any adjustment to such number of shares so issuable in accordance
with Section 8.7 hereof. The Corporation shall take all such actions as may be necessary to assure that all such shares of Common
Stock may be so issued without violation of any applicable law or govenmental regulation or any requirements of any securities
exchange upon which shares of Common Stock may be listed (except for official notice of issuance which shall be immediately delivered
by the Corporation upon each such issuance). The Corporation shall not close its books against the transfer of any of its capital
stock in any manner which would prevent the timely conversion of the Shares of Series A Preferred Stock.</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 0pt 26.65pt; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.5
<U>No Charge or Payment: No Fractional Shares of Common Stock</U>. The issuance of certificates for shares of Common Stock upon
conversion of Shares of Series A Preferred Stock pursuant to Section 8.1 shall be made without payment of additional consideration
<FONT STYLE="letter-spacing: -0.2pt">by, </FONT>or other charge, cost, or tax to, the holder in respect thereof. No fractional
interest in a share of Common Stock shall be issued on redemption of any Shares of Series A Preferred Stock in accordance with
Section 7 or conversion of any Shares of Series A Preferred Stock in accordance with Section 8. In lieu of delivering fractional
shares, the Corporation shall pay in cash an amount equal to the product of(i) such fractional share that would otherwise be issuable
multiplied by (ii) the Fair Market Value of a share of Common Stock.</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 0pt 26.65pt; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.6
<U>Tem1ination of Conversion <FONT STYLE="letter-spacing: 0.15pt">Rights</FONT></U><FONT STYLE="letter-spacing: 0.15pt">. </FONT>In
the event of a Series A Redemption Notice relating to a redemption of any Shares of Series A Preferred Stock pursuant to Section
7, the conversion rights described herein of the Shares designated for redemption shall terminate at the close of business on
the applicable Series A Conversion Election Date, unless the Series A Redemption Price is not fully paid on such redemption date,
in which case the conversion rights for such Shares shall continue until such price is paid in full.</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 0pt 26.65pt; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.7
Adjustments to Conversion Price.</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 0pt 0.75in; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(a)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Adjustment to Conversion Price upon Dividend.
Subdivision. or Combination of Common Stock</U>. If the Corporation shall, at any time or from time to time after the Date of
Issuance, (i) pay a dividend or make any other distribution upon the Common Stock or any other capital stock of the Corporation
payable in shares of Common Stock or in Options or Convertible Securities, or (ii) subdivide (by any stock split, recapitalization,
or otherwise) its outstanding shares of Common Stock into a greater number of shares , the Conversion Price in effect immediately
prior to any such dividend, distribution, or subdivision shall be proportionately reduced . If the Corporation at any time combines
(by combination, reverse stock split, or otherwise) its outstanding shares of Common Stock into a smaller number of shares, the
Conversion Price in effect immediately prior to such combination shall be proportionately increased.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 19.5pt 0pt 49.85pt; text-align: justify; text-indent: 35.4pt"><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-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 19.5pt 0pt 49.85pt; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
adjustment under this Section 8.7(a) shall become effective at the close of business on the date the dividend, subdivision, or
combination 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 0pt 0.75in; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(b)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Adjustment to Conversion Price and Conversion
Shares upon Reorganization</U>. <U>Reclassification</U>. <U>Consolidation</U>. <U>or Merger</U>. In the event of any (i) capital
reorganization of the Corporation, (ii) reclassification of the stock of the Corporation (other than a change in par value or
from par value to no par value or from no par value to par value or as a result of a stock dividend or subdivision, split-up or
combination of shares), (iii) consolidation or merger of the Corporation with or into another Person, (iv) sale of all or substantially
all of the Corporation&rsquo;s assets to another Person or (v) other similar transaction (other than any such transaction covered
by Section 8.7(a)), in each case which entitles the holders of Common Stock to receive (either directly or upon subsequent liquidation)
stock, securities, or assets with respect to or in exchange for Common Stock, each Share of Series A Preferred Stock shall, immediately
after such reorganization, reclassification, consolidation, merger, sale, or similar transaction, remain outstanding and shall
thereafter, in lieu of or in addition to (as the case may be) the number of Conversion Shares then convertible for such Share,
be exercisable for the kind and number of shares of stock or other securities or assets of the Corporation or of the successor
Person resulting from such transaction to which such Share would have been entitled upon such reorganization, reclassification,
consolidation, merger, sale; or similar transaction if the Share had been converted in full immediately prior to the time of such
reorganization, reclassification, consolidation, merger, sale, or similar transaction and acquired the applicable number of Conversion
Shares then issuable hereunder as a result of such conversion (without taking into account any limitations or restrictions on
the convertibility of such Share, if any); and, in such <FONT STYLE="letter-spacing: 0.1pt">case, </FONT>appropriate adjustment
shall be made with respect to such holder&rsquo;s rights under this Certificate of Designation to insure that the provisions of
this Section 8 hereof shall thereafter be applicable, as nearly as possible, to the Series A Preferred Stock in relation to any
shares of stock, securities, or assets thereafter acquirable upon conversion of Series A Preferred Stock (including, in the <FONT STYLE="letter-spacing: -0.05pt">cas</FONT>e
of <FONT STYLE="letter-spacing: -0.05pt">an</FONT>y <FONT STYLE="letter-spacing: -0.05pt">consolidation, merger</FONT>, <FONT STYLE="letter-spacing: -0.05pt">sale</FONT>,
or <FONT STYLE="letter-spacing: -0.05pt">simila</FONT>r <FONT STYLE="letter-spacing: -0.05pt">transactio</FONT>n <FONT STYLE="letter-spacing: -0.05pt">i</FONT>n
<FONT STYLE="letter-spacing: -0.05pt">whic</FONT>h <FONT STYLE="letter-spacing: -0.05pt">th</FONT>e <FONT STYLE="letter-spacing: -0.05pt">successo</FONT>r
or purchasing <FONT STYLE="letter-spacing: -0.05pt">Person </FONT>is other than the Corporation, an immediate adjustment in the
Conversion Price to the value per share for the Common Stock reflected by the terms of such consolidation, merger, <FONT STYLE="letter-spacing: 0.1pt">sale
</FONT>, or similar transaction, and a corresponding immediate adjustment to the number of Conversion Shares acquirable upon conversion
of the Series A Preferred Stock without regard to any limitations or restrictions on conversion, if the value so reflected is
less than the Conversion Price in effect immediately prior to such consolidation, merger , <FONT STYLE="letter-spacing: 0.1pt">sale
</FONT>, or similar transaction) . The provisions of this Section 8.7(b) shall similarly apply to successive reorganizations,
reclassifications , consolidations , mergers , sales, or similar transactions . The Corporation shall not effect any such reorganization,
reclassification, consolidation, merger, sale, or similar transaction unless , prior to the consummation <FONT STYLE="letter-spacing: -0.2pt">thereof,
</FONT>the successor Person (if other than the Corporation) resulting from such reorganization , reclassification, consolidation
, merger , sale, or similar transaction, shall assume, by written instrument substantially similar in form and substance to this
Certificate of Designation, the obligation to deliver to the holders of Series A Preferred Stock such shares of stock, securities,
or assets which, in accordance with the foregoing provisions, such holders shall be entitled to receive upon conversion of the
Series A Preferred Stock . Notwithstanding anything to the contrary contained herein, with respect to any corporate event or other
transaction contemplated by the provisions of this Section 8.7(b), each holder of Shares of Series A Preferred Stock shall have
the right to elect prior to the consummation of such event or transaction, to give effect to the provisions of Section 7.1 or
Section 8 hereunder , instead of giving effect to the provisions contained in this Section 8.7(b) with respect to such holder&rsquo;s
Series A Preferred Stock.</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 0pt 0.75in; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(c)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Certain Events</U>. If any event of the type
contemplated by the provisions of this Section 8.5 but not expressly provided for by such provisions (including, without limitation,
the granting of stock appreciation rights, phantom stock rights, or other rights with equity features) occurs, then the Board
shall make an appropriate adjustment in the Conversion Price and the number of Conversion Shares issuable upon conversion of Shares
of Series A Preferred Stock so as to protect the rights of the holder of such Shares in a manner consistent with the provisions
of this Section 8; <I>provided, </I>that no such adjustment pursuant to this Section 8.5 shall <FONT STYLE="letter-spacing: -0.3pt">inc</FONT>rease
the Conversion Price or decrease the number of Conversion Shares issuable as otherwise determined pursuant to this Section 8.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11.55pt 0pt 60.55pt; text-align: justify; text-indent: 34.8pt"><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-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)
<U>Certificate as to Adjustment.</U></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 0pt 1.25in; text-align: justify; text-indent: 35.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(i)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As promptly as reasonably practicable following
any adjustment of the Conversion Price, but in any event not later than ten (10) Business Days thereafter, the Corporation shall
furnish to each holder of record of Series A Preferred Stock at the address specified for such holder in the books and records
of the Corporation (or at such other address as may be provided to the Corporation in writing by such holder) a certificate of
an executive officer setting forth in reasonable detail such adjustment and the facts upon which it is based and certifying the
calculation thereof.</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 0pt 1.25in; text-align: justify; text-indent: 35.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(ii)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As promptly as reasonably practicable following
the receipt by the Corporation of a written request by any holder of Series A Preferred Stock, but in any event not later than
ten {I 0) Business Days thereafter, the Corporation shall furnish to such holder a certificate of an executive officer certifying
the Conversion Price then in effect and the number of Conversion Shares or the amount, if any, of other shares of stock, securities,
or assets then issuable to such holder upon conversion of the Shares of Series A Preferred Stock held by such holder.</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 0pt 0.75in; text-align: justify; text-indent: 35.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)
<U>Notices. </U>In the event:</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 0pt 1.25in; text-align: justify; text-indent: 35.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(i)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">that the Corporation shall take a record of the
holders of its Common Stock (or other capital stock or securities at the time issuable upon conversion of the Series A Preferred
Stock) for the purpose of entitling or enabling them to receive any dividend or other distribution, to vote at a meeting (or by
written consent), to receive any right to subscribe for or purchase any shares of capital stock of any class or any other securities,
or to receive any other security; or</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 0pt 1.25in; text-align: justify; text-indent: 35.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(ii)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">of any capital reorganization of the Corporation,
any reclassification of the Common Stock of the Corporation, any consolidation or merger of the Corporation with or into another
Person, or sale of all or substantially all of the Corporation&rsquo;s assets to another Person; or</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 0pt 1.25in; text-align: justify; text-indent: 35.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.05pt">(iii)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">of the voluntary or involuntary dissolution,
liquidation, or winding-up of the Corporation;</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 0pt 53.9pt; text-align: justify; text-indent: 71.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">then
, and in each such <FONT STYLE="letter-spacing: -0.2pt">case,</FONT> the Corporation shall send or cause to be sent to each holder
of record of Series A Preferred Stock at the address specified for such holder in the books and records of the Corporation <FONT STYLE="letter-spacing: -0.15pt">(or
</FONT>at such other address as may be provided to the Corporation in writing by such holder) at least five (5) Business Days
prior to the applicable record date or the applicable expected effective date, as the case may be, for the event, a written notice
specifying, as the case may be, (A) the record date for such <FONT STYLE="letter-spacing: 0.1pt">divi</FONT>dend , distribution,
meeting or consent, or other right or action, and a description of such dividend, distribution, or other right or action to be
taken at such meeting or by written consent, or (B) the effective date on which such reorganization, reclassification, consolidation,
merger, sale, dissolution, liquidation, or winding-up is proposed to take place, and the date, if any is to be fixed , as of which
the books of the Corporation shall close or a record shall be taken with respect to which the holders of record of Common Stock
(or such other capital stock or securities at the time issuable upon conversion of the Series A Preferred Stock) shall be entitled
to exchange their shares of Common Stock (or such other capital stock or securities) for securities or other property deliverable
upon such reorganization, reclassification, consolidation, merger, sale, dissolution, liquidation, or winding-up, and the amount
per share and character of such exchange applicable to the Series A Preferred Stock and the Conversion Shares.</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; text-indent: 20.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.
<U>Reissuance of Series A Preferred Stock</U>. Any Shares of Series A Preferred Stock redeemed, converted, or otherwise acquired
by the Corporation or any Subsidiary shall be cancelled and retired as authorized and issued shares of capital stock of the Corporation
and no such Shares shall thereafter be reissued, sold, or transferred.</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; text-indent: 20.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1<FONT STYLE="letter-spacing: -0.15pt">0.
</FONT><U>Notices.</U> Except as otherwise provided herein, all notices, requests, consents, claims, demands, waivers, and other
communications hereunder shall be in writing and shall be deemed to have been given: (a) when delivered by hand (with written
confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested);
<FONT STYLE="letter-spacing: -0.15pt">(c)</FONT> on the date sent by facsimile or e-mail of a PDF document (with confirmation
of transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business
hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested,
postage prepaid. Such communications must be sent (a) to the Corporation, at its princi<FONT STYLE="letter-spacing: -0.15pt">pal.
</FONT>executive offices and (b) to any stockholder, at such <FONT STYLE="letter-spacing: 0.2pt">holder&rsquo;s </FONT>address
at it appears in the stock records of the Corporation (or at such other address for a stockholder as shall be specified in a notice
given in accordance with this Section 10).</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; text-indent: 20.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.
<U>Amendment and Waiver</U>. No provision of this Certificate of Designation may be amended, modified, or waived except by an
instrument in writing executed by the Corporation and a Supermajority Interest, and any such written amendment, modification,
or waiver will be binding upon the Corporation and each holder of Series A Preferred Stock; <I>provided, </I>that no such action
shall change or waive (a) the definition of Liquidation Value or Conversion Price, or (b) this Section 11, without the prior written
consent of each holder of outstanding Shares of Series A Preferred Stock.&rdquo;</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: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>[SIGNATURE
PAGE FOLLOWS]</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 165.25pt 0pt 162.2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></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"><I>&nbsp;</I></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">IN
WITNESS WHEREOF, this Certificate of Designation is executed on behalf of the Corporation by its Chief Executive Officer this
18th day of August, 2020.</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%; border-collapse: collapse">
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DOCUMENT
    SECURITY SYSTEMS, INC.</B></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><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: 3%"><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: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="padding-bottom: 1.5pt; 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-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/
    Frank D. Heuszel</I></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Frank
    D. Heuszel</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer</FONT></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>


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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>ex99-1.htm
<TEXT>
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     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<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: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
99.1</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"><B>DSS
Completes Impact BioMedical Acquisition</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">August
21, 2020</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">ROCHESTER,
N.Y., Aug. 21, 2020 (GLOBE NEWSWIRE) &mdash; Document Security Systems, Inc. (&ldquo;DSS&rdquo; or the &ldquo;Company&rdquo;)
(NYSE American: DSS), a multinational company operating businesses focusing on brand protection technology, blockchain security,
direct marketing, healthcare, real estate, and securitized digital assets, is pleased to announce the closing of the Company&rsquo;s
acquisition of Impact BioMedical.</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">&ldquo;We
are excited to report the official closing of our Impact BioMedical acquisition,&rdquo; stated Frank D. Heuszel, CEO of DSS. &ldquo;This
transaction is a major milestone for DSS and provides us the opportunity to follow through on our vision of sharing the economic
benefits of our success with our shareholders.&rdquo;</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
Company&rsquo;s long-term plans for Impact BioMedical include taking it public through an initial public offering (&ldquo;IPO&rdquo;).
As previously announced, in concert with this public offering, DSS anticipates a proposed two-part dividend of Impact BioMedical
shares to its shareholders (except to controlling shareholders of DSS and the Chairman&rsquo;s group of companies), whereby for
every one DSS share of common stock held, the shareholder would be entitled to a bonus of four Impact Shares, the Bonus shares.
The first tranche of the planned Bonus share dividend intends to provide shareholders with two shares of Impact BioMedical for
every share of DSS they hold. The DSS Board of Directors is expected to meet in the immediate future to set a record date for
this tranche. The second tranche of the planned Bonus share dividend is expected to provide an additional two shares of Impact
BioMedical to the DSS shareholders of record on the date of the proposed IPO of Impact BioMedical. The issuance of the Bonus shares
would occur after the registration and the IPO of Impact BioMedical&rsquo;s shares. While there can be no assurance that Impact
BioMedical will be taken public and/or that any Bonus share distribution will occur, particularly due to unforeseen circumstances
including fulfilling the pre-requisite criteria during the IPO application process and market forces beyond the Company&rsquo;s control,
it is the intention of management and the Board to take Impact BioMedical public and to reward DSS shareholders via the issuance
of Bonus shares.</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">DSS
announced its acquisition of Impact BioMedical in March 2020. Impact BioMedical&rsquo;s ownership of a suite of antiviral and
medical technologies has been valued at $382 million by Destum Partners, known globally for its high level of expertise and capability
in independently valuing and advising on pharmaceutical technology. On May 26, 2020, Impact BioMedical disclosed that it received
a valuation of $933 million for this suite of technology from a different independent valuation firm. Unlike the previous valuation,
the new valuation takes into consideration numerous additional disease applications of the suite of antiviral and medical technologies.</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>&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>About
Impact BioMedical, Inc. </B><BR>
<BR></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">Impact
BioMedical, Inc. (&ldquo;Impact BioMedical&rdquo;) is a wholly owned direct subsidiary of Global BioMedical Pte. Ltd., which in
turn is a wholly owned direct subsidiary of Singapore eDevelopment Limited, a company listed on the Singapore Exchange. Impact
BioMedical strives to leverage its scientific know-how and intellectual property rights to provide solutions that have been plaguing
the biomedical field for decades. By tapping into the scientific expertise of GRDG Sciences, LLC, Impact BioMedical pledges to
undertake a concerted effort in the R&amp;D, drug discovery and development for the prevention, inhibition, and treatment of neurological,
oncological and immuno related diseases. For more information on Impact BioMedical visit <U>http://impbio.com/</U>.</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>&nbsp;</B></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"></P>

<P STYLE="font: 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>&nbsp;</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"><B>About
Document Security Systems, Inc.</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">DSS
is a multinational company operating businesses focused on brand protection technology, blockchain security, direct marketing,
healthcare, real estate, and securitized digital assets. Its business model is based on a distribution sharing system in which
shareholders will receive shares in its subsidiaries as DSS strategically spins them out into IPOs. Its historic business revolves
around counterfeit deterrent and authentication technologies, smart packaging, and consumer product engagement. DSS is led by
its Chairman and largest shareholder, Mr. Fai Chan, a highly successful global business veteran of more than 40 years specializing
in corporate transformation while managing risk. He has successfully restructured more than 35 corporations with a combined value
of $25 billion.</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
more information on DSS visit <U>http://www.dsssecure.com</U>.</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>&nbsp;</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"><B>Investor
Contact:</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dave
Gentry, CEO<BR>
RedChip Companies Inc.<BR>
407-491-4498<BR>
<U>Dave@redchip.com</U></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>&nbsp;</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"><B>Safe
Harbor Disclosure</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">This
press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking
statements include, but are not limited to, statements related to the Company&rsquo;s intended use of proceeds and other statements
that are not historical facts. Forward-looking statements are based on management&rsquo;s current expectations and are subject to risks
and uncertainties that may cause actual results or events to differ materially from those projected. These risks and uncertainties,
many of which are beyond our control, include: risks relating to our growth strategy; our ability to obtain, perform under and
maintain financing and strategic agreements and relationships; risks relating to the results of development activities; our ability
to attract, integrate and retain key personnel; our need for substantial additional funds; patent and intellectual property matters;
competition; as well as other risks described in the section entitled &ldquo;Risk Factors&rdquo; in the prospectus and in our other
filings with the SEC, including, without limitation, our reports on Forms 8-K and 10-Q, all of which can be obtained on the SEC
website at www.sec.gov. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only
as of the date on which they are made and reflect management&rsquo;s current estimates, projections, expectations and beliefs. We expressly
disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained
herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement
is based, except as required by law.</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"><IMG SRC="ex99-1_001.jpg" ALT="Primary Logo" STYLE="height: 58px; width: 150px"></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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