<SEC-DOCUMENT>0001213900-25-075711.txt : 20250813
<SEC-HEADER>0001213900-25-075711.hdr.sgml : 20250813
<ACCEPTANCE-DATETIME>20250813163002
ACCESSION NUMBER:		0001213900-25-075711
CONFORMED SUBMISSION TYPE:	PRE 14A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250813
FILED AS OF DATE:		20250813
DATE AS OF CHANGE:		20250813

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			iSpecimen Inc.
		CENTRAL INDEX KEY:			0001558569
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		EIN:				270480143
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PRE 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40501
		FILM NUMBER:		251212140

	BUSINESS ADDRESS:	
		STREET 1:		8 CABOT ROAD
		STREET 2:		SUITE 1800
		CITY:			WOBURN
		STATE:			MA
		ZIP:			08101
		BUSINESS PHONE:		781-301-6700

	MAIL ADDRESS:	
		STREET 1:		8 CABOT ROAD
		STREET 2:		SUITE 1800
		CITY:			WOBURN
		STATE:			MA
		ZIP:			08101
</SEC-HEADER>
<DOCUMENT>
<TYPE>PRE 14A
<SEQUENCE>1
<FILENAME>ea0251884-pre14a_ispecimen.htm
<DESCRIPTION>PRELIMINARY PROXY STATEMENT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 0pt; width: 100%"><DIV STYLE="margin-right: 0pt; font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; margin-left: 0pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNITED
STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Washington,
D.C. 20549</B>&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SCHEDULE
14A INFORMATION</B>&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proxy
Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934</B>&nbsp;</FONT></P>

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

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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">Filed by the Registrant &#9746;</TD>
    <TD STYLE="width: 50%">Filed by a Party other than the Registrant &#9744; </TD></TR>
  </TABLE>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
the appropriate box:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9746;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preliminary
Proxy Statement</FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Confidential,
for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</B></FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive
Proxy Statement</FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive
Additional Materials</FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Soliciting Material Pursuant to &sect; 240.14a-12</TD>
</TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name
of Registrant as Specified in its Charter)</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name
of Person(s) Filing Proxy Statement, if other than the Registrant)</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PAYMENT
OF FILING FEE (Check the appropriate box):</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9746;</TD><TD STYLE="text-align: justify">No fee required.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Fee paid previously with preliminary materials.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9744;</TD><TD STYLE="text-align: justify">Fee computed on table in exhibit required by Item 25(b) per
Exchange Act Rules 14a-6(i)(1) and 0-11.</TD>
</TR></TABLE>

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

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

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

<P STYLE="margin: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><IMG SRC="image_001.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>iSpecimen
Inc.<BR>
450 Bedford Street<BR>
Lexington, MA 02420</B>&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2025</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">On behalf of the board of directors
(&ldquo;Board of Directors&rdquo;) of iSpecimen Inc., I cordially invite you to attend the 2025 special meeting of stockholders (the
&ldquo;Special Meeting&rdquo;) of iSpecimen Inc., which will be held virtually via the internet, commencing at 10:00 a.m. Eastern
Time on September 26, 2025). In order to attend the meeting, you must log on to www.virtualshareholdermeeting.com/ISPC2025SM and
enter the 16-digit control number included in our Notice of Internet Availability of Proxy Materials, on your proxy card or in the
instructions that accompanied your proxy materials. The Special Meeting will be held for the following purposes:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To approve an amendment to our Fourth Amended and Restated Certificate
of Incorporation to effect a reverse stock split of our outstanding shares of common stock, par value $0.0001 per share, at a ratio, ranging
from one-for-ten (1:10) to one-for-one hundred (1:100), with the exact ratio to be set within that range at the discretion of our Board
of Directors without further approval or authorization of our stockholders;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To approve an amendment to our Fourth Amended and Restated Certificate of Incorporation to increase the number of authorized shares of capital stock from 250,000,000 to 500,000,000 shares;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To approve, for purposes of complying with Nasdaq Listing Rule 5635(d), the potential issuance of shares of common stock (or securities convertible into or exercisable for common stock), in one or more non-public financing transactions, in an aggregate amount exceeding 19.99% of the Company&rsquo;s outstanding common stock or voting power, at a price that may be below the Minimum Price (as defined in Nasdaq rules);</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To approve an amendment to certain outstanding convertible securities of the Company to increase the conversion price floor from 50% to 80% of the lowest volume weighted average price (VWAP) during the applicable measurement period, which may reduce the number of shares issuable upon conversion of such securities;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To approve, for purposes of complying with Nasdaq Listing Rule 5635(d), the Company&rsquo;s entry into an equity line of credit arrangement, and the potential issuance of shares of common stock pursuant to such arrangement, which may exceed 19.99% of the Company&rsquo;s outstanding common stock or voting power, at a price that may be below the Minimum Price (as defined in Nasdaq rules); and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To transact such other business as may properly come before the Special Meeting or any continuation, postponement or adjournment thereof.</FONT></TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> To
all stockholders of record at the close of business on July 25, 2025, attached to this letter are a Notice of Special Meeting of Stockholders
and the Proxy Statement, which describe the business to be conducted at the Special Meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B>Your vote is important to us.</B>
Please act as soon as possible to vote your shares. It is important that your shares be represented at the Special Meeting, whether or
not you plan to attend the Special Meeting. Please vote by phone, electronically over the Internet or via mail by returning your signed
proxy card in the envelope provided.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">On behalf of the Board of Directors and management,
it is my pleasure to express our appreciation for your continued support.</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; width: 40%"><FONT STYLE="font-size: 10pt">/s/ Robert Bradley Lim</FONT></TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Robert Bradley Lim</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: Chief Executive Officer </FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"></FONT><IMG SRC="image_001.jpg" ALT=""></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><B>iSpecimen Inc.<BR>
450 Bedford Street<BR>
Lexington, MA 02420</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><B>NOTICE OF SPECIAL MEETING OF STOCKHOLDERS
TO BE HELD ON SEPTEMBER 26, 2025</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B>NOTICE IS HEREBY GIVEN</B> that
the Special Meeting of Stockholders (the &ldquo;Special Meeting&rdquo;) of iSpecimen Inc., a Delaware corporation (&ldquo;we&rdquo;, &ldquo;us&rdquo;,
&ldquo;our&rdquo; or similar terminology), will be held on September 26, 2025, at 10:00 a.m. Eastern Time. The Special Meeting will be
held as a virtual meeting, for the following purposes:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To approve an amendment to our Fourth Amended and Restated Certificate of Incorporation to effect a reverse stock split of our outstanding shares of common stock, par value $0.0001 per share, at a ratio, ranging from one-for-ten (1:10) to one-for-one hundred (1:100), with the exact ratio to be set within that range at the discretion of our board of directors (&ldquo;Board of Directors&rdquo;) without further approval or authorization of our stockholders;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To approve an amendment to our Fourth Amended and Restated Certificate of Incorporation to increase the number of authorized shares of capital stock from 250,000,000 to 500,000,000 shares;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To approve, for purposes of complying with Nasdaq Listing Rule 5635(d), the potential issuance of shares of common stock (or securities convertible into or exercisable for common stock), in one or more non-public financing transactions, in an aggregate amount exceeding 19.99% of the Company&rsquo;s outstanding common stock or voting power, at a price that may be below the Minimum Price (as defined in Nasdaq rules);</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To approve an amendment to certain outstanding convertible securities of the Company to increase the conversion price floor from 50% to 80% of the lowest volume weighted average price (VWAP) during the applicable measurement period, which may reduce the number of shares issuable upon conversion of such securities;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To approve, for purposes of complying with Nasdaq Listing Rule 5635(d), the Company&rsquo;s entry into an equity line of credit arrangement, and the potential issuance of shares of common stock pursuant to such arrangement, which may exceed 19.99% of the Company&rsquo;s outstanding common stock or voting power, at a price that may be below the Minimum Price (as defined in Nasdaq rules); and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To transact such other business as may properly come before the Special Meeting or any continuation, postponement or adjournment thereof.</FONT></TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">These items of business for the Special
Meeting are described in the accompanying Proxy Statement that follows this notice. Holders of record of our common stock as of the close
of business on July 25, 2025 are entitled to notice of and to vote at the Special Meeting, or any continuation, postponement or adjournment
thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Special Meeting will be held as
a virtual meeting via live webcast on the Internet on September 26, 2025, at 10:00 a.m. Eastern Time. Because the Special Meeting is completely
virtual and being conducted via the Internet, stockholders will not be able to attend the Special Meeting in person. You will be able
to attend the Special Meeting, vote, and submit your questions on the day of the Special Meeting via the Internet by visiting www.virtualshareholdermeeting.com/ISPC2025SM
and entering the 16-digit control number included on your proxy card. The unique control number allows us to identify you as a stockholder
and will enable you to securely log on and vote during the Special Meeting on the meeting website. Stockholders of record will not be
able to ask questions online during the Special Meeting. If you would like to submit a question prior to the Special Meeting, please visit
www.ProxyVote.com with your 16-digit control number and use the Questions for Management feature on the site.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B>Important Notice Regarding the Availability
of Proxy Materials for the Special Meeting to be Held on September 26, 2025:</B> The accompanying Proxy Statement are available at <I>proxyvote.com</I>.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">We will mail to our stockholders of record and beneficial owners a
Notice of Internet Availability of Proxy Materials containing instructions on how to access the accompanying Proxy Statement via the Internet
and how to vote online or by mail with a completed proxy card or by phone. The Notice of Internet Availability of Proxy Materials and
the Proxy Statement also contain instructions on how you can receive a paper or electronic copy of the proxy materials.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">This Notice of Special Meeting and
Proxy Statement are first being distributed or made available, as the case may be, on or about August 11, 2025.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Your vote is very important to us.
Whether or not you plan to attend the Special Meeting, we encourage you to vote promptly. You may vote by mailing a completed proxy card,
by phone or the Internet.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; font-size: 10pt"><FONT STYLE="font-size: 10pt">By Order of the Board of Directors, &nbsp;</FONT></TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt">/s/ Robert Bradley Lim</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Robert Bradley Lim</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: Chief Executive Officer &nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2025</P>

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

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    <!-- Field: /Page -->

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






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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; width: 90%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 10pt"><B>Page</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><A HREF="#a_001"><FONT STYLE="font-size: 10pt"><B>GENERAL INFORMATION ABOUT THE ANNUAL MEETING
    AND VOTING</B></FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><A HREF="#a_002"><FONT STYLE="font-size: 10pt">Questions and Answers</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_003"><FONT STYLE="font-size: 10pt"><B>PROPOSAL NO. 1&thinsp;-&thinsp;THE REVERSE
    STOCK SPLIT PROPOSAL</B></FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">7</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Overview</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_004"><FONT STYLE="font-size: 10pt">Vote Required</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_005"><FONT STYLE="font-size: 10pt">Board Recommendation</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_006"><FONT STYLE="font-size: 10pt"><B>PROPOSAL NO. 2&thinsp;-&thinsp;THE AUTHORIZED
    SHARE INCREASE PROPOSAL</B></FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">13</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Overview</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_008"><FONT STYLE="font-size: 10pt">Vote Required</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">13</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_009"><FONT STYLE="font-size: 10pt">Board Recommendation</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">13</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_010"><FONT STYLE="font-size: 10pt"><B>PROPOSAL NO. 3&thinsp;-&thinsp;THE NASDAQ
    20% LIMIT APPROVAL PROPOSAL</B></FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">14</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Overview</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_012"><FONT STYLE="font-size: 10pt">Vote Required</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">14</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_013"><FONT STYLE="font-size: 10pt">Board Recommendation</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">14</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_014"><FONT STYLE="font-size: 10pt"><B>PROPOSAL NO. 4&thinsp;-&thinsp;THE CONVERTIBLE
    FLOOR AMENDMENT PROPOSAL</B></FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">15</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Overview</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_016"><FONT STYLE="font-size: 10pt">Vote Required</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">15</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_017"><FONT STYLE="font-size: 10pt">Board Recommendation</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">15</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_018"><FONT STYLE="font-size: 10pt"><B>PROPOSAL NO. 5&thinsp;-&thinsp;THE EQUITY
    LINE OF CREDIT (ELOC) PROPOSAL</B></FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">16</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Overview</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_020"><FONT STYLE="font-size: 10pt">Vote Required</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">16</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_021"><FONT STYLE="font-size: 10pt">Board Recommendation</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">16</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_022"><FONT STYLE="font-size: 10pt"><B>PROPOSAL NO. 6&thinsp;-&thinsp;THE ADJOURNMENT
    PROPOSAL</B></FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">17</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in"><A HREF="#a_023"><FONT STYLE="font-size: 10pt">Overview</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">17</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in"><A HREF="#a_024"><FONT STYLE="font-size: 10pt">Vote Required</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">17</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in"><A HREF="#a_025"><FONT STYLE="font-size: 10pt">Board Recommendation</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">17</TD></TR>

<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in"><A HREF="#a_026"><FONT STYLE="font-size: 10pt">Security Ownership of Certain Beneficial Owners
    and Management and Related Stockholder Matters</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">18</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in"><FONT STYLE="font-size: 10pt">Beneficial Ownership of Our Common Stock</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><A HREF="#a_027"><FONT STYLE="font-size: 10pt"><B>CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS,
    AND DIRECTOR INDEPENDENCE</B></FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">19</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in"><A HREF="#a_028"><FONT STYLE="font-size: 10pt">Policies and Procedures for Related Party
    Transactions</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">19</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in"><A HREF="#a_029"><FONT STYLE="font-size: 10pt">Employee, Officer and Director Hedging</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">19</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in"><A HREF="#a_030"><FONT STYLE="font-size: 10pt">Anti-Takeover Effects of Certain Provisions
    of Our Certificate of Incorporation and Bylaws</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">19</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in"><A HREF="#a_031"><FONT STYLE="font-size: 10pt">Choice of Forum</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">20</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in"><A HREF="#a_032"><FONT STYLE="font-size: 10pt">Indemnification of Directors and Officers</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">21</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in"><A HREF="#a_033"><FONT STYLE="font-size: 10pt">Transfer Agent</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">21</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><A HREF="#a_034"><FONT STYLE="font-size: 10pt"><B>HOUSEHOLDING</B></FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">21</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><A HREF="#a_036"><FONT STYLE="font-size: 10pt"><B>Annex A&thinsp;-&thinsp;Amendment to the
    Fourth Amended and Restated Certificate of Incorporation</B></FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">A-1</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><A HREF="#a_037"><FONT STYLE="font-size: 10pt"><B>Annex B&thinsp;-&thinsp;Proxy Card</B></FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></TD></TR>
  </TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><IMG SRC="image_001.jpg" ALT=""><FONT STYLE="font-size: 10pt"></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><B>iSpecimen Inc.<BR>
450 Bedford Street<BR>
Lexington, MA 02420</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><B>PROXY STATEMENT<BR>
FOR THE SPECIAL MEETING OF STOCKHOLDERS<BR>
TO BE HELD ON SEPTEMBER 26, 2025</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">This proxy statement (the &ldquo;Proxy Statement&rdquo; or the &ldquo;proxy
materials&rdquo;) are being furnished by and on behalf of the board of directors (the &ldquo;Board&rdquo; or the &ldquo;Board of Directors&rdquo;)
of iSpecimen Inc. (the &ldquo;Company,&rdquo; &ldquo;Corporation,&rdquo; &ldquo;iSpecimen,&rdquo; &ldquo;we,&rdquo; &ldquo;us,&rdquo;
or &ldquo;our&rdquo;), in connection with our 2025 special meeting of stockholders (the &ldquo;Special Meeting&rdquo;). This Notice of
Special Meeting and Proxy Statement are first being distributed or made available, as the case may be, on or about August 11, 2025.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><B>NOTICE OF ELECTRONIC AVAILABILITY
OF PROXY MATERIALS</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">On or about August 11, 2025, we will mail to our stockholders of record at the close of business on July 25, 2025 (&ldquo;Record Date&rdquo;)
a Notice of Internet Availability of Proxy Materials (&ldquo;Notice&rdquo;) containing instructions on how to access proxy materials via
the Internet and how to vote online. <B>The proxy materials are available at <I>proxyvote.com</I>.</B> As a result, you will not receive
paper copies of the proxy materials unless you request one. All stockholders are able to access the proxy materials on the website referred
to in the Notice and in this Proxy Statement and to request to receive a set of the proxy materials by mail or electronically, in either
case, free of charge. If you would like to receive a paper or electronic copy of our proxy materials, you should follow the instructions
for requesting such materials in this Proxy Statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><B><A NAME="a_001"></A>GENERAL INFORMATION ABOUT THE SPECIAL
MEETING AND VOTING</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><B><A NAME="a_002"></A>QUESTIONS AND ANSWERS</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>Why am I receiving these proxy materials?</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">You are receiving this Proxy Statement
and proxy card from the Company because, at the close of business on July 25, 2025, the Record Date, you were a holder of record of shares
of common stock of the Company. This Proxy Statement describes the matters that will be presented for your consideration at the Special
Meeting. It also gives you information concerning the matters to assist you in making an informed decision.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>What is the purpose of the Special Meeting?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The purpose of the Special Meeting
is to vote on the following items described in this Proxy Statement:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">To approve an amendment to our Fourth Amended and Restated Certificate
of Incorporation to effect a reverse stock split of our outstanding shares of common stock, par value $0.0001 per share, at a ratio, ranging
from one-for-ten (1:10) to one-for-one hundred (1:100), with the exact ratio to be set within that range at the discretion of our Board
of Directors without further approval or authorization of our stockholders;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To approve an amendment to our Fourth Amended and Restated Certificate of Incorporation to increase the number of authorized shares of capital stock from 250,000,000 to 500,000,000 shares;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To approve, for purposes of complying with Nasdaq Listing Rule 5635(d), the potential issuance of shares of common stock (or securities convertible into or exercisable for common stock), in one or more non-public financing transactions, in an aggregate amount exceeding 19.99% of the Company&rsquo;s outstanding common stock or voting power, at a price that may be below the Minimum Price (as defined in Nasdaq rules);</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To approve an amendment to certain outstanding convertible securities of the Company to increase the conversion price floor from 50% to 80% of the lowest volume weighted average price (VWAP) during the applicable measurement period, which may reduce the number of shares issuable upon conversion of such securities;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To approve, for purposes of complying with Nasdaq Listing Rule 5635(d), the Company&rsquo;s entry into an equity line of credit arrangement, and the potential issuance of shares of common stock pursuant to such arrangement, which may exceed 19.99% of the Company&rsquo;s outstanding common stock or voting power, at a price that may be below the Minimum Price (as defined in Nasdaq rules); and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To transact such other business as may properly come before the Special Meeting or any continuation, postponement or adjournment thereof.</FONT></TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> <B>Are
there any matters to be voted on at the Special Meeting that are not included in this Proxy Statement?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">At the date this Proxy Statement went
to press, we did not know of any matters to be properly presented at the Special Meeting other than those referred to in this Proxy Statement.
If other matters are properly presented at the Special Meeting or any adjournment or postponement thereof for consideration, and you are
a stockholder of record and have submitted a proxy card, the persons named in your proxy card will have the discretion to vote on those
matters for you.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>What does it mean if I receive more than one set of
proxy materials?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">It means that your shares are held
in more than one account at the transfer agent and/or with banks or brokers. Please vote all of your shares. To ensure that all of your
shares are voted, for each set of proxy materials, please submit your proxy via the Internet, or by signing, dating and returning the
enclosed proxy card in the enclosed envelope or via email.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>Who is entitled to vote at the Special Meeting?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Holders of record of shares of our common
stock as of the close of business on the Record Date will be entitled to notice of and to vote at the Special Meeting and any
continuation, postponement or adjournment thereof. At the close of business on the Record Date, there were 3,979,517 shares of our
common stock issued and outstanding and entitled to vote. Each share of our common stock is entitled to one vote on any matter
presented to stockholders at the Special Meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>What is the difference between being a &ldquo;record
holder&rdquo; and holding shares in &ldquo;street name&rdquo;?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">A record holder (also called a &ldquo;registered
holder&rdquo;) holds shares in his or her name. Shares held in &ldquo;street name&rdquo; means that shares are held in the name of a bank,
broker or other nominee on the holder&rsquo;s behalf.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>What do I do if my shares are held in &ldquo;street
name&rdquo;?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">If your shares are held in a brokerage
account or by a bank or other holder of record, you are considered the &ldquo;beneficial owner&rdquo; of shares held in &ldquo;street
name.&rdquo; The proxy materials have been forwarded to you by your broker, bank or other nominee who is considered, with respect to those
shares, the stockholder of record. As the beneficial owner, you have the right to direct your broker, bank or other holder of record on
how to vote your shares by following their instructions for voting. Please refer to information from your bank, broker or other nominee
on how to submit your voting instructions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>How many shares must be present to hold the Special
Meeting?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">A quorum must be present at the Special
Meeting for any business to be conducted. The holders of 34% in voting power of our shares entitled to vote at the Special Meeting, present
in person or represented by proxy, shall constitute a quorum. If you sign and return your paper proxy card via mail or email, or authorize
a proxy to vote electronically, your shares will be counted to determine whether we have a quorum even if you abstain or fail to vote
as indicated in the proxy materials.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Broker non-votes will also be considered
present for the purpose of determining whether there is a quorum for the Special Meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>What are &ldquo;broker non-votes&rdquo;?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">A &ldquo;broker non-vote&rdquo; occurs
when shares held by a broker in &ldquo;street name&rdquo; for a beneficial owner are not voted with respect to a proposal because (1)
the broker has not received voting instructions from the stockholder who beneficially owns the shares and (2) the broker lacks the authority
to vote the shares at their discretion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">If you do not provide voting instructions
to your broker and the broker has indicated that it does not have discretionary authority to vote on a particular proposal, your shares
will be considered &ldquo;broker non-votes&rdquo; with regard to that matter. Broker non-votes will be considered as represented for purposes
of determining a quorum but generally will not be considered as entitled to vote with respect to a particular proposal. Broker non-votes
are not counted for purposes of determining the number of votes cast with respect to a particular proposal. Thus, a broker non-vote will
make a quorum more readily obtainable, but the broker non-vote will not otherwise affect the outcome of the vote on a proposal that requires
the affirmative vote of a majority of the shares present and entitled to vote.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Under the rules of various national
and regional securities exchanges interpretations that govern broker non- votes, Proposal Nos. 1, 2, 3, 4 and 5 considered non-routine
matters, and a broker will lack the authority to vote uninstructed shares at their discretion on such proposal. Proposal No. 6 is considered
a routine matter, and a broker will be permitted to exercise its discretion to vote uninstructed shares on this proposal.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>What if a quorum is not present at the Special Meeting?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">If a quorum is not present or represented
at the scheduled time of the Special Meeting, (i) the chair of the Special Meeting (the &ldquo;Chair&rdquo;) or (ii) a majority in voting
power of the stockholders entitled to at the Special Meeting, present in person or represented by proxy, may adjourn the Special Meeting
until a quorum is present or represented.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>How do I vote my shares without attending the Special
Meeting?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">We ask that stockholders vote by proxy
even if they plan to attend the Special Meeting. If you are a stockholder of record, there are three ways to vote by proxy:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify"><B>by Phone&thinsp;-&thinsp;</B>call the toll-free number
1-800-690-6903 and follow the instructions on your proxy card and the recorded telephone instructions; or</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify"><B>by Internet&thinsp;-&thinsp;</B>Following the instructions
on the Notice or the proxy card, which you may have received by mail, you can vote by Internet, prior to or at the Special Meeting before
the polls close; or</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify"><B>by Mail&thinsp;-&thinsp;</B>You can vote by mail by signing,
dating and mailing the proxy card using the return envelope, which you may have received by mail.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Internet voting facilities for stockholders
of record will be available 24 hours a day and will close at 11:59 p.m., Eastern Time, on August 18, 2025.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">If your shares are held in the name
of a bank, broker or other holder of record, you will receive instructions on how to vote from the bank, broker or holder of record. You
must follow the instructions of such bank, broker or holder of record in order for your shares to be voted.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>How can I attend and vote at the Special Meeting?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Special Meeting will be conducted
virtually via live webcast available at www.virtualshareholdermeeting.com/ISPC2025SM. You are entitled to participate in the Special Meeting
if you were a stockholder on July 25, 2025, which is the Record Date, or hold a valid proxy for the Special Meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">To be admitted to the Special Meeting
via live webcast, you must enter the 16-digit control number found next to the label &ldquo;Control Number&rdquo; on your proxy card.
If you do not have your 16-digit control number, you will be able to login as a guest but will not be able to vote your shares or ask
questions during the Special Meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">You may begin to log in to the meeting
platform beginning at 9:45 a.m., Eastern Time, on September 26, 2025. The Special Meeting will begin promptly at 10:00 a.m., Eastern Time,
on September 26, 2025.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>Will I be able to ask questions at the Special Meeting?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">We will not have a segment for stockholder
questions during the Special Meeting. Questions can only be submitted prior to the Special Meeting until August 18, 2025 at 11:59 p.m.
Eastern Time. Questions can be submitted prior to the Special Meeting by visiting www.ProxyVote.com with your control number and using
the Questions for Management feature on the site.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">To help ensure that we have a productive
and efficient meeting, and in fairness to all stockholders in attendance, you will also find posted our rules of conduct for the Special
Meeting when you log in prior to its start. These rules of conduct will include the following guidelines:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">Stockholders of record will not be able to ask questions
online during the Special Meeting. You may submit questions and comments electronically through the meeting portal only prior to the
Special Meeting until August 18, 2025 at 11:59 p.m. Eastern Time.</TD>
</TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">Only stockholders of record as of the Record Date for the
Special Meeting and their proxy holders may submit questions or comments prior to the Special Meeting.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">Questions pertinent to the Special Meeting and related to
our business will be answered during the webcast, subject to time constraints. Any such questions that cannot be answered live due to
time constraints will be posted and answered on our website, https://ispecimen.com as soon as practical after the Annual Special.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">Questions may be omitted if they are, among other things,
irrelevant to our business, related to pending or threatened litigation, disorderly, repetitious of statements already made, or in furtherance
of the speaker&rsquo;s own personal, political or business interests.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">No audio or video recordings of the Special Meeting are permitted.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>How does the Board recommend that I vote?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Board recommends that you vote
your shares of common stock FOR Proposals No. 1, 2, 3, 4, 5, and 6. In addition, at their discretion, the proxies if designated as such
are authorized to vote upon such other business as may properly come before the Special Meeting or any continuation, postponement or adjournment
thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>How many votes are required to approve each proposal?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The table below summarizes the proposals that
will be voted on, the votes required to approve each item, and how votes are counted: &nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-weight: bold; width: 33%; vertical-align: bottom">Proposal</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid; width: 30%; vertical-align: bottom">Votes Required</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; width: 11%">Voting <BR> Options</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; width: 11%">Impact of <BR> &ldquo;Withhold&rdquo; or <BR> &ldquo;Abstain&rdquo; Votes</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; width: 1%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; width: 11%">Broker <BR> Discretionary <BR> Voting Allowed</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: left">Proposal No. 1: <BR> The Reverse Stock Split Proposal</TD><TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">The affirmative vote of the holders of a majority of the outstanding
shares of common stock entitled to vote on the amendment to the Fourth Amended and Restated Certificate of Incorporation.</P></TD><TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&ldquo;FOR&rdquo; <BR> &ldquo;AGAINST&rdquo; <BR> &ldquo;ABSTAIN&rdquo;</TD><TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">None(1)</TD><TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">No(2)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-align: left">Proposal No. 2: <BR>
The Authorized Share Increase Proposal</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">The affirmative vote of the holders of a majority of the outstanding
shares of common stock entitled to vote on the amendment to the Fourth Amended and Restated Certificate of Incorporation.</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&ldquo;FOR&rdquo; <BR> &ldquo;AGAINST&rdquo; <BR> &ldquo;ABSTAIN&rdquo;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">No(2)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: left">Proposal No. 3:<BR>
 The Nasdaq 20% Limit Approval Proposal</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">The affirmative vote of a majority of the shares present in person
or represented by proxy at the Special Meeting and entitled to vote on the matter.</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&ldquo;FOR&rdquo; <BR> &ldquo;AGAINST&rdquo; <BR> &ldquo;ABSTAIN&rdquo;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">No(2)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-align: left">Proposal No. 4: <BR>
The Convertible Floor Amendment Proposal</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">The affirmative vote of a majority of the shares present in person
or represented by proxy at the Special Meeting and entitled to vote on the matter.</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&ldquo;FOR&rdquo; <BR> &ldquo;AGAINST&rdquo; <BR> &ldquo;ABSTAIN&rdquo;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">No(2)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: left">Proposal No. 5: <BR>
The Equity Line of Credit (ELOC) Proposal</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">The affirmative vote of a majority of the shares present in person
or represented by proxy at the Special Meeting and entitled to vote on the matter.</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&ldquo;FOR&rdquo; <BR> &ldquo;AGAINST&rdquo; <BR> &ldquo;ABSTAIN&rdquo;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">No(2)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-align: left">Proposal No. 6: <BR>
The &nbsp;Adjournment Proposal</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top">The affirmative vote of a majority of the shares present in person
or represented by proxy at the Special Meeting and entitled to vote on the matter.</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&ldquo;FOR&rdquo; <BR> &ldquo;AGAINST&rdquo; <BR> &ldquo;ABSTAIN&rdquo;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">Yes(3)</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Quorum: Under the Company&rsquo;s Third Amended
and Restated Bylaws, the holders of 34% in voting power of the shares entitled to vote at the meeting, present in person or represented
by proxy, constitute a quorum for the transaction of business at the Special Meeting.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">A vote marked as &ldquo;withhold&rdquo; is not applicable
to these proposals. An &ldquo;abstain&rdquo; vote is treated as described above for each proposal.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: justify">As these proposals are not considered discretionary matters,
brokers lack authority to exercise their discretion to vote uninstructed shares on these proposals.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(3)</TD><TD STYLE="text-align: justify">This proposal is considered a discretionary matter, and brokers
are permitted to exercise their discretion to vote uninstructed shares on this proposal.</TD>
</TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>What if I do not specify how my shares are to be voted?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">If you submit a proxy but do not indicate
any voting instructions, the persons named as proxies will vote in accordance with the recommendations of the Board. The Board&rsquo;s
recommendations are set forth above, as well as with the description of each proposal in this Proxy Statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>Who will count the votes?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The appointed inspector of election.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>Can I revoke or change my vote after I submit my proxy?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Yes. Whether you have voted by phone,
Internet, or mail if you are a stockholder of record, you may change your vote and revoke your proxy by:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">sending a written statement to that effect to the attention
of our Secretary at our corporate offices, provided such statement is received no later than August 18, 2025 at 11:59 p.m. Eastern Time;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">voting again by Internet at a later time before the closing
of those voting facilities at 11:59 p.m., Eastern Time, on than August 18, 2025;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">attending the Annual Meeting, virtually, and voting at the
Special Meeting on September 26, 2025;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">submitting a properly signed proxy card with a later date
that is received no later than August 18, 2025 at 11:59 p.m. Eastern Time; or</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">if you hold shares in street name, you may submit new voting
instructions by contacting your bank, broker or other nominee.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Your most recent proxy card or Internet
proxy is the one that is counted. Your virtual attendance at the Special Meeting by itself will not revoke your proxy unless you give
written notice of revocation to the Company before your proxy is voted or you vote at the Special Meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>Who will pay for the cost of this proxy solicitation?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">We will pay the cost of soliciting
proxies. Proxies may be solicited on our behalf by directors, officers or employees (for no additional compensation) in person or by telephone,
electronic transmission and facsimile transmission. Brokers and other nominees will be requested to solicit proxies or authorizations
from beneficial owners and will be reimbursed for their reasonable expenses.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>Are there any rights of appraisal?</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">None of Delaware law, our Fourth Amended
and Restated Certificate of Incorporation or our Third Amended and Restated Bylaws, each as currently in effect, provides for appraisal
or other similar rights for dissenting stockholders in connection with any of the proposals to be voted upon at this Special Meeting.
Accordingly, you will have no right to dissent and obtain payment for your shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>Our Principal Executive Offices</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Our principal executive offices are
located at 450 Bedford Street, Lexington, MA 02420. Our telephone number is (781) 301-6700.</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><B><A NAME="a_003"></A>PROPOSAL NO. 1&thinsp;-&thinsp;REVERSE
STOCK SPLIT PROPOSAL</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><I>Introduction</I>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Our Board acted unanimously, at a
special meeting of the Board held on [*], 2025, to adopt the Reverse Stock Split Proposal to amend our Fourth Amended and Restated Certificate
of Incorporation to enable a potential Reverse Split of our issued and outstanding common stock at a ratio of between one-for-ten (1:10)
to one-for-one hundred (1:100), with such ratio to be determined at the sole discretion of the Board and with such Reverse Split to be
effected at such time and date, if at all, as determined by the Board in its sole discretion and, at the same time. The Board is now asking
you to approve this Reverse Stock Split Proposal.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">If approved, the Reverse Split will
be effective upon the filing of a certificate of amendment to our Fourth Amended and Restated Certificate of Incorporation, in substantially
the form attached to this Proxy Statement as <U>Annex A</U> (the &ldquo;Certificate of Amendment&rdquo;), with the Secretary of State
of Delaware, with such filing to occur, if at all, at the sole discretion of the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The intention of the Board in obtaining
approval for the authority to effect a Reverse Split would be to increase the stock price of our common stock sufficiently above the $1.00
minimum bid price requirement for continued listing on The Nasdaq Capital Market (&ldquo;Nasdaq&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">In addition, the effect of the Reverse
Split, without a corresponding reduction of the authorized shares of common stock, will allow the Board of Directors to issue more shares
of common stock than the amount that it would have been able to issue prior to the Reverse Split being effectuated. The Board, in its
sole discretion, can elect to abandon the Reverse Split in its entirety at any time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">One principal effect of the Reverse
Split would be to decrease the number of outstanding shares of our common stock. Except for de minimis adjustments that may result from
the treatment of fractional shares as described below, the Reverse Split will not have any dilutive effect on our stockholders since each
stockholder would hold the same percentage of our common stock (in hand or on an as converted basis) and/or the same relative voting rights
outstanding immediately following the Reverse Split as such stockholder held immediately prior to the Reverse Split. The relative voting
and other rights that accompany the shares would not otherwise be affected by the Reverse Split. The authorized number of shares of common
stock will not be adjusted as a result of the Reverse Split.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The table below sets forth the number of shares of our common stock
outstanding before and approximate number of shares outstanding after the Reverse Split based on 5,539,345 shares of our common stock
outstanding as of the Record Date.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Prior to the <BR> Reverse Split</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Assuming a<BR>
 One-for-Ten<BR>
 Reverse Split</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Assuming a<BR>
 One-for-Fifty<BR>
 Reverse Split</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Assuming a<BR>
 One-for-One<BR>
 Hundred<BR>
 Reverse Split</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; width: 40%; text-align: left">Aggregate Number of Shares of common stock Outstanding</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Reverse Split is not part of a
broader plan to take us private.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><I>Reasons for the Reverse Split; Nasdaq Requirements for
Continued Listing</I>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Board&rsquo;s primary objective
in proposing a potential Reverse Split is to raise the per share trading price of our common stock. Our common stock currently trades
on Nasdaq under the symbol &ldquo;ISPC.&rdquo; In order to maintain our listing on Nasdaq we may be required to effect the Reverse Split
so that our listed shares maintain a minimum bid price per share of at least $1.00. The closing trading price of our common stock on [*],
2025 was $[*].</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Reverse Split would increase the
availability of such shares, which could then be issued upon conversion or exercise of outstanding convertible securities, for grants
under our currently effective stock option plan and in connection with an acquisition of another business or a merger. The Company currently
has no plans to acquire another business or enter into a merger transaction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Our Board concluded that the liquidity
and marketability of our common stock will be adversely affected if it is not listed on a national securities exchange as investors can
find it more difficult to dispose of, or to obtain accurate quotations as to the market value of, our common stock. Our Board believes
that current and prospective investors will view an investment in our common stock more favorably if our common stock remains listed on
Nasdaq.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Our Board also believes that the Reverse
Split and any resulting increase in the per share price of our common stock will enhance the acceptability and marketability of our common
stock to the financial community and investing public. Many institutional investors have policies prohibiting them from holding lower-priced
stocks in their portfolios, which reduces the number of potential buyers of our common stock, although we have not been told by them that
is the reason for not investing in our common stock. Additionally, analysts at many brokerage firms are reluctant to recommend lower-priced
stocks to their clients or monitor the activity of lower-priced stocks. Brokerage houses frequently have internal practices and policies
that discourage individual brokers from dealing in lower-priced stocks. Further, because brokers&rsquo; commissions on lower-priced stock
generally represent a higher percentage of the stock price than commissions on higher priced stock, investors in lower-priced stocks pay
transaction costs which are a higher percentage of their total share value, which may limit the willingness of individual investors and
institutions to purchase our common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">We cannot assure you that the Reverse
Split will have any of the desired effects described above. More specifically, we cannot assure you that after the Reverse Split, the
market price of our common stock will increase proportionately to reflect the ratio for the Reverse Split, that the market price of our
common stock will not decrease to its pre-split level, that our market capitalization will be equal to the market capitalization before
the Reverse Split, or that we will be able to maintain our listing on Nasdaq.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><I>Potential Disadvantages of the Reverse Split</I>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">As noted above, the principal purpose
of the Reverse Split would be to help increase the per share market price of our common stock by up to factor of one hundred. We cannot
assure you, however, that the Reverse Split will accomplish this objective for any meaningful period of time. While we expect that the
reduction in the number of outstanding shares of common stock will increase the market price of our common stock, we cannot assure you
that the Reverse Split will increase the market price of our common stock proportionately based on the Reverse Split ratio, or result
in any permanent increase in the market price of our common stock, which is dependent upon many factors, including our business and financial
performance, general market conditions and prospects for future success. If the per share market price does not increase proportionately
as a result of the Reverse Split, then the value of our Company as measured by our market capitalization will be reduced, perhaps significantly.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Because the number of authorized shares
of our common stock will not be reduced proportionately with the ratio of the Reverse Split, it may increase the Board&rsquo;s ability
to issue authorized and unissued shares without further stockholder action, the issuance of which would be dilutive to our existing stockholders
and may cause a decline in the trading price of our common stock. With respect to authorized but unissued and unreserved shares, the Company
could also use such shares to oppose a hostile takeover attempt or delay or prevent changes in control or changes in or removal of management.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The number of shares held by each
individual holder of common stock would be reduced if the Reverse Split is implemented. This will increase the number of stockholders
who hold less than a &ldquo;round lot,&rdquo; or 100 shares. Typically, the transaction costs to stockholders selling &ldquo;odd lots&rdquo;
are higher on a per share basis. Consequently, the Reverse Split could increase the transaction costs to existing holders of common stock
in the event they wish to sell all or a portion of their position.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Although our Board believes that the
decrease in the number of shares of our common stock outstanding as a consequence of the Reverse Split and the anticipated increase in
the market price of our common stock could encourage interest in our common stock and possibly promote greater liquidity for our stockholders,
such liquidity could also be adversely affected by the reduced number of shares outstanding after the Reverse Split.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><I>Criteria the Board of Directors May Use to Determine
Whether to Implement the Reverse Split</I>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">When determining whether to implement
the Reverse Split, and which Reverse Split ratio to implement, if any, following the receipt of stockholder approval, the Board may consider
various factors, including:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the historical trading price and trading volume of our common
stock;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the then-prevailing trading price and trading volume of our
common stock and the expected impact of the Reverse Split on the trading market for our common stock in the short- and long-term;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the listing requirements, other rules and guidance from one
or more potential national securities exchanges;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the number of shares of our common stock outstanding;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">the anticipated impact of a particular ratio on the Company&rsquo;s
ability to reduce administrative and transactional costs; and</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">prevailing general market, legal and economic conditions.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><I>Effecting the Reverse Split</I>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Upon receipt of stockholder approval
for the Reverse Split Proposal, if our Board concludes that it is in the best interests of our Company and our stockholders to effect
the Reverse Split, the Certificate of Amendment will be filed with the Secretary of State of Delaware. The actual timing of the filing
of the Certificate of Amendment with the Secretary of State of Delaware to effect the Reverse Split will be determined by our Board. In
addition, if for any reason our Board deems it advisable to do so, the Reverse Split may be abandoned at any time prior to the filing
of the Certificate of Amendment, without further action by our stockholders. In addition, our Board may deem it advisable to effect the
Reverse Split even if the price of our common stock is above $1.00 at the time the Reverse Split is to be effected. The Reverse Split
will be effective as of the date of filing with the Secretary of State of the State of Delaware (the &ldquo;Effective Time&rdquo;). Upon
the filing of the Certificate of Amendment, without further action on our part or our stockholders, the outstanding shares of common stock
held by stockholders of record as of the Effective Time would be converted into a lesser number of shares of common stock based on a Reverse
Split ratio as determined by the Board. For example, if you presently hold 3,000 shares of our common stock, you would hold 300 shares
of our common stock following the Reverse Split if the ratio is one-for-ten or you would hold 150 shares of our common stock if the ratio
is one-for-twenty.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><I>Effect on Outstanding Shares, Options and Certain Other
Securities</I>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">If the Reverse Split is implemented,
the percentage of our common stock owned by each stockholder will remain unchanged except for any de minimis change resulting from rounding
up to the nearest number of whole shares of common stock so that we are not obligated to issue cash in lieu of any fractional shares that
such common stockholder would have received as a result of the Reverse Split. The number of shares of our common stock that may be purchased
upon exercise of outstanding options or exercise or conversion of other securities convertible into, or exercisable or exchangeable for,
shares of our common stock, and the exercise or conversion prices for these securities, will also be ratably adjusted in accordance with
their terms as of the Effective Time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><I>Effect on Registration</I>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Our common stock is currently registered
under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), and we are subject to the periodic reporting and other
requirements of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;). The proposed Reverse Split will not
affect the registration of our common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><I>Fractional Shares</I>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Our Board does not currently intend
to issue fractional shares of common stock in connection with the Reverse Split. Therefore, we do not expect to issue fractional shares.
In lieu of any fractional shares, we will issue to stockholders of record who would otherwise hold a fractional share because the number
of shares of common stock they hold of record before the Reverse Split is not evenly divisible by the Reverse Split ratio that number
of shares of common stock as rounded up to the nearest whole share. For example, if a stockholder holds 150.25 shares of common stock
following the Reverse Split, that stockholder will receive 151 shares of common stock. No stockholders will receive cash in lieu of fractional
shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">As of the Record Date, we had 59 holders
of record of our common stock (although we have significantly more beneficial holders). We do not expect the Reverse Split and the rounding
up of fractional shares to whole shares to result in a reduction in the number of record holders. We presently do not intend to seek any
change in our status as a reporting company for federal securities law purposes, either before or after the Reverse Split.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><I>Shares Held in Book-Entry and Through a Broker, Bank
or Other Holder of Record</I>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The combination of, and reduction
in, the number of our outstanding shares of common stock as a result of the Reverse Split occurs automatically at the Effective Time without
any additional action on the part of our stockholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Upon the Reverse Split, we intend
to treat stockholders holding shares of our common stock in &ldquo;street name&rdquo; (that is, through a broker, bank or other holder
of record) in the same manner as registered stockholders whose shares of our common stock are registered in their names. Brokers, banks
or other holders of record will be instructed to effect the Reverse Split for their beneficial holders holding shares of our common stock
in &ldquo;street name&rdquo;; however, these brokers, banks or other holders of record may apply their own specific procedures for processing
the Reverse Split. If you hold your shares of our common stock with a broker, bank or other holder of record, and you have any questions
in this regard, we encourage you to contact your holder of record.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">If you hold registered shares of our
common stock in a book-entry form, you do not need to take any action to receive your post-Reverse Split shares of our common stock in
registered book-entry form. If you are entitled to post-Reverse Split shares of our common stock, a transaction statement will automatically
be sent to your address of record as soon as practicable after the Effective Time indicating the number of shares of our common stock
you hold.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><I>Anti-Takeover and Dilutive Effects</I>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The authorized common stock will not
be diluted as a result of the Reverse Split. The common stock that is authorized but unissued provides the Board with flexibility to effect
among other transactions, public or private financings, acquisitions, stock dividends, stock splits and the granting of equity incentive
awards. However, these authorized but unissued shares may also be used by our Board, consistent with and subject to its fiduciary duties,
to deter future attempts to gain control of us or make such actions more expensive and less desirable. The Certificate of Amendment would
continue to give our Board authority to issue additional shares from time to time without delay or further action by the stockholders
except as may be required by applicable law or regulations. The Certificate of Amendment is not being recommended in response to any specific
effort of which we are aware to obtain control of us, nor does our Board have any present intent to use the authorized but unissued common
stock to impede a takeover attempt. There are no plans or proposals to adopt other provisions or enter into any arrangements that have
material anti-takeover effects.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><I>Accounting Consequences</I>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">As of the Effective Time, the stated
capital attributable to common stock on our balance sheet will be reduced proportionately based on the Reverse Split ratio (including
a retroactive adjustment of prior periods), and the additional paid-in capital account will be credited with the amount by which the stated
capital is reduced. Reported per share net income or loss will be higher because there will be fewer shares of our common stock outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><I>Federal Income Tax Consequences</I>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following summary describes certain
material U.S. federal income tax consequences of the Reverse Split to holders of our common stock and preferred stock. This summary addresses
the tax consequences only to a beneficial owner of our common stock and preferred stock that is a citizen or individual resident of the
United States, a corporation organized in or under the laws of the United States or any state thereof or the District of Columbia or otherwise
subject to U.S. federal income taxation on a net income basis in respect of our common stock or preferred stock (a &ldquo;U.S. holder&rdquo;).
This summary does not address all of the tax consequences that may be relevant to any particular stockholder, including tax considerations
that arise from rules of general application to all taxpayers or to certain classes of taxpayers or that are generally assumed to be known
by investors. This summary also does not address the tax consequences to persons who may be subject to special treatment under U.S. federal
income tax law or persons that do not hold our common stock or preferred stock as &ldquo;capital assets&rdquo;  (generally,
property held for investment). This summary is based on the provisions of the Internal Revenue Code of 1986, as amended, U.S. Treasury
regulations, administrative rulings and judicial authority, all as in effect as of the date hereof. Subsequent developments in U.S. federal
income tax law, including changes in law or differing interpretations, which may be applied retroactively, could have a material effect
on the U.S. federal income tax consequences of the Reverse Split.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">If a partnership (or other entity
classified as a partnership for U.S. federal income tax purposes) is the beneficial owner of our common stock or preferred stock , the
U.S. federal income tax treatment of a partner in the partnership will generally depend on the status of the partner and the activities
of the partnership. Partnerships that hold our common stock and partners in such partnerships, should consult their own tax advisors regarding
the U.S. federal income tax consequences of the Reverse Split.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt"><B>Each stockholder should consult his, her or its own
tax advisor regarding the U.S. federal, state, local and foreign income and other tax consequences of the Reverse Split.</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Reverse Split should be treated
as a recapitalization for U.S. federal income tax purposes. Therefore, no gain or loss should be recognized by a U.S. holder upon the
Reverse Split. Accordingly, the aggregate tax basis in the common stock or preferred stock received pursuant to the Reverse Split should
equal the aggregate tax basis in the common stock surrendered and the holding period for the common stock received should include the
holding period for the common stock surrendered.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>Text of Proposed Certificate of Amendment; Effectiveness</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The text of the proposed Certificate of Amendment
is set forth in substantially final form in <U>Annex A</U> to this Proxy Statement. If and when effected by our Board, the Certificate
of Amendment will become effective upon its filing with the Secretary of State of Delaware.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B><A NAME="a_004"></A>Vote Required</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Approval requires the affirmative vote of a majority of the outstanding
shares of common stock entitled to vote on the proposal. Because this standard is based on all outstanding shares, an abstention will
have the same effect as a vote &ldquo;AGAINST.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B><A NAME="a_005"></A>Recommendation of the Board</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B>THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS
A VOTE &ldquo;FOR&rdquo; THE REVERSE STOCK SPLIT PROPOSAL.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><A NAME="a_006"></A>PROPOSAL NO. 2 - THE AUTHORIZED
SHARE INCREASE PROPOSAL</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B><A NAME="a_007"></A>Introduction</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Our Board of Directors has unanimously
approved, and recommends that our stockholders approve, an amendment to our Fourth Amended and Restated Certificate of Incorporation (the
&ldquo;Certificate of Incorporation&rdquo;) to increase the total number of authorized shares of capital stock from 250,000,000 to 500,000,000,
consisting of 480,000,000 shares of common stock, par value $0.0001 per share, and 20,000,000 shares of preferred stock, par value $0.0001
per share (the &ldquo;Preferred Stock&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B>Purpose and Effects of the Authorized
Share Increase</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The proposed increase in authorized
shares will provide the Company with greater flexibility to issue additional shares of common stock or Preferred Stock, as needed, in
connection with future financings, strategic acquisitions, equity compensation, conversions of existing securities, or other general corporate
purposes, without the need for further stockholder approval (except as required by law or Nasdaq rules). The increase is not intended
to have any immediate dilutive effect; however, the issuance of additional shares could be dilutive to existing stockholders depending
on the circumstances and terms of issuance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Board believes that the proposed
increase in authorized capital stock is in the best interests of the Company and its stockholders and will better position the Company
to pursue its business objectives, attract strategic capital, and respond to market opportunities in a timely and efficient manner.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The text of the proposed Certificate
of Amendment to effect the Authorized Share Increase is attached to this Proxy Statement as <U>Annex B</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B><A NAME="a_008"></A>Vote Required</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Approval requires the affirmative vote of a majority of the outstanding
shares of common stock entitled to vote on the proposal. Because this standard is based on all outstanding shares, an abstention will
have the same effect as a vote &ldquo;AGAINST.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B><A NAME="a_009"></A>Recommendation of the Board</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B>THE BOARD OF DIRECTORS UNANIMOUSLY
RECOMMENDS A VOTE &ldquo;FOR&rdquo; THE AUTHORIZED SHARE INCREASE PROPOSAL.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><A NAME="a_010"></A>PROPOSAL NO. 3 - THE NASDAQ 20%
LIMIT APPROVAL PROPOSAL</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B><A NAME="a_011"></A>Introduction</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Our Board of Directors is seeking
stockholder approval, as required by Nasdaq Listing Rule 5635(d), to authorize the potential issuance of shares of common stock (or securities
convertible into or exercisable for common stock) in one or more future financing transactions, which may result in the issuance of more
than 20% of the Company&rsquo;s outstanding common stock or voting power.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B>Background on Nasdaq Listing Rule
5635(d)</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Nasdaq Listing Rule 5635(d) requires
stockholder approval prior to the issuance of securities in a transaction other than a public offering, involving the sale, issuance or
potential issuance by the Company of common stock (or securities convertible into or exercisable for common stock) equal to 20% or more
of the outstanding common stock or voting power, at a price below the minimum price as defined under Nasdaq rules.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Approval of this Proposal will provide
the Company with the flexibility to raise capital in private placement or other non-public financing transactions, including PIPEs, equity
lines, or other strategic financings, without being limited by the 20% restriction. The Board believes this flexibility is essential to
enable the Company to act quickly in securing funding when market conditions are favorable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">This Proposal does not obligate the
Company to consummate any specific transaction. Any transaction completed under this authority will be subject to the Board&rsquo;s determination
that such transaction is in the best interests of the Company and its stockholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B><A NAME="a_012"></A>Vote Required</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The affirmative vote of a majority
of the votes cast on this Proposal at the Special Meeting is required to approve the Nasdaq 20% Limit Approval Proposal.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B><A NAME="a_013"></A>Recommendation of the Board</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B>THE BOARD OF DIRECTORS UNANIMOUSLY
RECOMMENDS A VOTE &ldquo;FOR&rdquo; THE NASDAQ 20% LIMIT APPROVAL PROPOSAL.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><A NAME="a_014"></A>PROPOSAL NO. 4 - THE CONVERTIBLE
FLOOR AMENDMENT PROPOSAL</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B><A NAME="a_015"></A>Introduction</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Our Board of Directors is seeking
stockholder approval to amend certain outstanding convertible securities of the Company to modify the applicable conversion price floor
from 50% to 80% of the lowest volume weighted average price (&ldquo;VWAP&rdquo;) during the applicable measurement period.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Company previously issued convertible
securities containing a conversion price floor of 50% of the lowest VWAP during a defined measurement period. In light of recent market
dynamics, the Company believes it is in the best interests of its stockholders to increase this floor to 80%, in order to reduce potential
dilution, stabilize the capital structure, and promote a healthier trading environment for the Company&rsquo;s common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The amendment would apply to all such
outstanding convertible instruments and would be effective upon stockholder approval and consent of the respective holders, which the
Company anticipates obtaining prior to or concurrently with the Special Meeting.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Raising the floor from 50% to 80%
is expected to:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">Reduce the potential dilution to existing stockholders upon
conversion;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">Increase investor confidence by signaling a more shareholder-protective
structure;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">Better align conversion pricing with prevailing market prices;
and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">Enhance the Company&rsquo;s ability to negotiate future financing
terms on more favorable conditions.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">No new securities are being issued
under this Proposal. Any amendment to the terms of the outstanding securities will be subject to definitive documentation mutually agreed
upon by the Company and the respective holders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B><A NAME="a_016"></A>Vote Required</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Approval requires the affirmative vote of a majority of the shares
present in person or represented by proxy at the Special Meeting and entitled to vote on the matter. This means that once the 34% quorum
is met, a proposal can pass with a majority of votes cast within that quorum. An abstention will have the same effect as a vote &ldquo;AGAINST.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B><A NAME="a_017"></A>Recommendation of the Board</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B>THE BOARD OF DIRECTORS UNANIMOUSLY
RECOMMENDS A VOTE &ldquo;FOR&rdquo; THE CONVERTIBLE FLOOR AMENDMENT PROPOSAL.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><A NAME="a_018"></A>PROPOSAL NO. 5 - THE EQUITY LINE
OF CREDIT (ELOC) PROPOSAL</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B><A NAME="a_019"></A>Introduction</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Our Board of Directors is seeking
stockholder approval for the Company to enter into a potential equity line of credit arrangement (&ldquo;ELOC&rdquo;) and to issue shares
of common stock pursuant to such arrangement, in accordance with applicable Nasdaq rules, including Nasdaq Listing Rule 5635(d).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">An ELOC is a type of financing facility
that allows a public company to raise capital over time through the issuance of shares to an investor (the &ldquo;ELOC Investor&rdquo;),
generally at a discount to the prevailing market price, subject to specified volume, pricing, and timing limitations. This mechanism provides
flexibility and cost efficiency while minimizing immediate dilution.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Nasdaq rules require stockholder approval
when the potential issuance under such arrangements may exceed 20% of the Company&rsquo;s outstanding shares or voting power at a price
below the market minimum.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Company believes that an ELOC
may provide an efficient means to access working capital in a flexible and non-dilutive manner compared to traditional equity offerings.
The proceeds may be used for working capital, operating expenses, R&amp;D, debt repayment, or other general corporate purposes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Approval of this Proposal does not
obligate the Company to enter into any ELOC. Any such arrangement would be subject to negotiation and definitive agreement with a third-party
investor and approved by the Board of Directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B><A NAME="a_020"></A>Vote Required</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Approval requires the affirmative vote of a majority of the shares
present in person or represented by proxy at the Special Meeting and entitled to vote on the matter. This means that once the 34% quorum
is met, a proposal can pass with a majority of votes cast within that quorum. An abstention will have the same effect as a vote &ldquo;AGAINST.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B><A NAME="a_021"></A>Recommendation of the Board</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><B>THE BOARD OF DIRECTORS UNANIMOUSLY
RECOMMENDS A VOTE &ldquo;FOR&rdquo; THE EQUITY LINE OF CREDIT (ELOC) PROPOSAL.</B></P>

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

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

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B><A NAME="a_022"></A>PROPOSAL NO. 6&thinsp;-&thinsp;THE ADJOURNMENT PROPOSAL</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B><A NAME="a_023"></A>Overview</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The Adjournment Proposal, if adopted,
will allow the Board to adjourn the Special Meeting to a later date or dates, at the determination of the Board. In no event will the
Board adjourn the Special Meeting beyond the date by which it may properly do so under the Fourth Amended and Restated Certificate of
Incorporation and the Delaware General Corporation Law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B><A NAME="a_024"></A>Vote Required</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Approval requires the affirmative vote of a majority of the shares
present in person or represented by proxy at the Special Meeting and entitled to vote on the matter. This means that once the 34% quorum
is met, a proposal can pass with a majority of votes cast within that quorum. An abstention will have the same effect as a vote &ldquo;AGAINST.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B><A NAME="a_025"></A>Board Recommendation</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">THE BOARD OF DIRECTORS UNANIMOUSLY
RECOMMENDS A VOTE &ldquo;FOR&rdquo; THE ADJOURNMENT PROPOSAL.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><B><A NAME="a_026"></A>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
OWNERS<BR>
AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following table sets forth certain
information regarding the beneficial ownership of our outstanding shares of common stock, as of August [*], 2025 by: (i) each of our directors,
(ii) each of our named executive officers (as defined by Item 402(a)(3) of Regulation S-K promulgated under the Exchange Act), (iii) all
of our directors and named executive officers as a group, and (iv) each person known to us to beneficially own more than 5% of our outstanding
shares of common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Beneficial ownership has been determined in accordance
with Rule 13d-3 under the Exchange Act. The percentages in the table have been calculated on the basis of treating as outstanding for
a particular person, all shares of our common stock outstanding on that date and all shares of our common stock issuable to that holder
in the event of exercise of outstanding options, warrants, rights or conversion privileges owned by that person at that date which are
exercisable within sixty (60) days of that date. Except as otherwise indicated, the persons listed below have sole voting and investment
power with respect to all shares of our common stock owned by them, except to the extent that power may be shared with a spouse.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1.5pt solid">Name and Address of Beneficial Owner(1)</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Number of Shares of <BR> Common Stock Beneficially <BR> Owned</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Approximate <BR> Percentage of <BR> Class(2)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">Director and Executive Officers</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 76%; font-weight: bold; text-align: left">All Directors and Officers as a Group ([*] persons)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">5% or Greater Stockholders</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; text-align: left">&nbsp;</TD></TR>
  </TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">Less than 1%</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">(1)</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><B><A NAME="a_027"></A>CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS,
AND DIRECTOR INDEPENDENCE</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">There have been no transactions, since
January 1, 2022, to which we have been a party, in which the amount involved exceeds or will exceed $120,000 and in which any of
our directors, executive officers, holders of more than 5% of our capital stock, or immediate family member thereof, had or will have
a direct or indirect material interest.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B><A NAME="a_028"></A>Policies and Procedures for Related Transactions</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">We have not yet adopted a formal policy
for the review, approval or ratification of related party transactions. Accordingly, the transactions discussed above were not reviewed,
approved or ratified in accordance with any such policy.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">We have adopted a code of business
conduct and ethics requiring us to avoid, wherever possible, all conflicts of interests, except under guidelines or resolutions approved
by our Board (or the appropriate committee of our Board) or as disclosed in our public filings with the SEC. Under our code of ethics,
conflict of interest situations includes any financial transaction, arrangement or relationship (including any indebtedness or guarantee
of indebtedness) involving the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">In addition, our audit committee,
pursuant to a written charter, is responsible for reviewing and approving related party transactions to the extent that we enter into
such transactions. An affirmative vote of a majority of the members of the audit committee present at a meeting at which a quorum is present
is required in order to approve a related party transaction. A majority of the members of the entire audit committee will constitute a
quorum. Without a meeting, the unanimous written consent of all of the members of the audit committee is required to approve a related
party transaction. We also require each of our directors and executive officers to complete a directors&rsquo; and officers&rsquo; questionnaire
that elicits information about related party transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">These procedures are intended to determine
whether any such related party transaction impairs the independence of a director or presents a conflict of interest on the part of a
director, employee or officer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B><A NAME="a_029"></A>Employee, Officer and Director Hedging</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">We maintain a policy on insider trading
that applies to all shares of our capital stock held by any director, officer or employee. The policy requires that all directors, officers
and employees receive our pre-clearance before engaging in any transactions involving our shares of capital stock and prohibits all directors,
officers or employees from taking part in any hedging transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B><A NAME="a_030"></A>Anti-Takeover Effects of Certain Provisions of Our Certificate
of Incorporation and Bylaws</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Provisions of our bylaws could make
it more difficult to acquire us by means of a merger, tender offer, proxy contest, open market purchases, removal of incumbent directors
and otherwise. These provisions, which are summarized below, are expected to discourage types of coercive takeover practices and inadequate
takeover bids and to encourage persons seeking to acquire control of us to first negotiate with us. We believe that the benefits of increased
protection of our potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure
us outweigh the disadvantages of discouraging takeover or acquisition proposals because negotiation of these proposals could result in
an improvement of their terms.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><I>Vacancies.</I> Newly created directorships
resulting from any increase in the number of directors and any vacancies on the Board resulting from death, resignation, disqualification,
removal or other cause shall be filled by a majority of the remaining directors on the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><I>Bylaws.</I> Our certificate of
incorporation and bylaws authorizes the Board to adopt, repeal, rescind, alter or amend our bylaws without stockholder approval.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><I>Removal.</I> Except as otherwise
provided, a director may be removed from office only by the affirmative vote of the holders of not less than a majority of the voting
power of the issued and outstanding stock entitled to vote.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><I>Calling of Special Meetings of
Stockholders.</I> Our bylaws provide that special meetings of stockholders for any purpose or purposes may be called at any time only
by the Board or by our Secretary following receipt of one or more written demands from stockholders of record who own, in the aggregate,
at least 15% the voting power of our outstanding stock then entitled to vote on the matter or matters to be brought before the proposed
special meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><I>Cumulative Voting.</I> Our certificate
of incorporation does not provide for cumulative voting in the election of directors, which would allow holders of less than a majority
of the stock to elect some directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><I>Staggered Board.</I> Our bylaws
provided that our Board is divided into three classes with only one class of directors being elected in each year and each class (except
for those directors appointed prior to the annual meeting) serving a three-year term. As a result, only a minority of the Board will be
considered for election at every annual meeting of stockholders, which may make the removal of management more difficult and may discourage
transactions that otherwise could involve payment of a premium over prevailing market prices for our securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B><A NAME="a_031"></A>Choice of Forum</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Our bylaws provide that, unless we
consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware (or, if the Court of Chancery
does not have jurisdiction, the federal district court for the District of Delaware) will be the exclusive forum for: (i) any derivative
action or proceeding brought on behalf of the Company; (ii) any action asserting a claim for breach of a fiduciary duty owed by any director,
officer, employee, or agent of ours to us or our stockholders; (iii) any action asserting a claim arising pursuant to any provision of
the Delaware General Corporation Law, the certificate of incorporation, or the bylaws; and (iv) any action asserting a claim governed
by the internal affairs doctrine (the &ldquo;Delaware Forum Provision&rdquo;). The bylaws further provide that, unless we consent in writing
to the selection of an alternative forum, the federal district courts of the United States of America shall be the sole and exclusive
forum for resolving any complaint asserting a cause of action arising under the Securities Act (the &ldquo;Federal Forum Provision&rdquo;).
In addition, the bylaws provide that any person or entity purchasing or otherwise acquiring any interest in shares of our common stock
is deemed to have notice of and consented to the Delaware Forum Provision and the Federal Forum Provision. Section 27 of the Exchange
Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created by the Exchange Act or the
rules and regulations thereunder. As a result, the Delaware Forum Provision will not apply to suits brought to enforce any duty or liability
created by the Exchange Act or any other claim for which the federal courts have exclusive jurisdiction. We note, however, that there
is uncertainty as to whether a court would enforce this provision and that investors cannot waive compliance with the federal securities
laws and the rules and regulations thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">We recognize that the Delaware Forum
Provision and the Federal Forum Provision in the bylaws may impose additional litigation costs on stockholders in pursuing any such claims,
particularly if the stockholders do not reside in or near the State of Delaware. Additionally, the Delaware Forum Provision and the Federal
Forum Provision may limit our stockholders&rsquo; ability to bring a claim in a forum that they find favorable for disputes with us or
our directors, officers or employees, which may discourage such lawsuits against us and our directors, officers and employees even though
an action, if successful, might benefit our stockholders. In addition, while the Delaware Supreme Court ruled in March 2020 that federal
forum selection provisions purporting to require claims under the Securities Act be brought in federal court were &ldquo;facially valid&rdquo;
under Delaware law, there is uncertainty as to whether other courts will enforce the Federal Forum Provision. If the Federal Forum Provision
is found to be unenforceable, we may incur additional costs associated with resolving such matters. The Federal Forum Provision may also
impose additional litigation costs on stockholders who assert that the provision is not enforceable or invalid. The Court of Chancery
of the State of Delaware and the United States District Court may also reach different judgments or results than would other courts, including
courts where a stockholder considering an action may be located or would otherwise choose to bring the action, and such judgments may
be more or less favorable to us than our stockholders.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B><A NAME="a_032"></A>Indemnification of Directors and Officers</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">We are incorporated in the State of
Delaware. The certificate of incorporation and bylaws provide that, to the fullest extent permitted by Delaware law, as it presently exists
or may be amended from time to time, a director shall not be personally liable to us or our stockholders for monetary damages for any
breach of fiduciary duty as a director. And under Delaware law, this limitation of liability does not extend to, among other things, acts
or omissions which involve intentional misconduct, fraud or knowing violation of law, or unlawful payments of dividends. So these provisions
may discourage stockholders from bringing suit against a director or officer for breach of fiduciary duty and may reduce the likelihood
of derivative litigation brought by stockholders on our behalf against a director or officer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The certificate of incorporation and
bylaws also provide for the indemnification of our directors, officers, employees, and agents, under certain circumstances, against attorney&rsquo;s
fees and other expenses incurred by them in any litigation to which they become a party arising from their association with or activities
on behalf of the Company. As such, should our officers and/or directors require us to contribute to their defense, we may be required
to spend significant amounts of our capital. This indemnification policy could therefore result in substantial expenditures, which we
may be unable to recoup. If these expenditures are significant or involve issues which result in significant liability for our key personnel,
we may be unable to continue operating as a going concern.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Furthermore, we intend to enter into
indemnification agreements with our directors and executive officers that require us to indemnify them against expenses, judgments, fines,
settlements and other amounts that any such person becomes legally obligated to pay (including with respect to a derivative action) in
connection with any proceeding, whether actual or threatened, to which such person may be made a party by reason of the fact that such
person is or was a director or officer of us or any of our affiliates, provided such person acted in good faith and in a manner such person
reasonably believed to be in, or not opposed to, our best interests. We maintain a directors&rsquo; and officers&rsquo; liability insurance
policy. The policy insures directors and officers against unindemnified losses arising from certain wrongful acts in their capacities
as directors and officers and reimburses us for those losses for which we have lawfully indemnified the directors and officers. The policy
contains various exclusions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B><A NAME="a_033"></A>Transfer Agent</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The transfer agent and registrar for
our common stock is Broadridge Financial Solutions, LLC. The transfer agent and registrar&rsquo;s address is 51 Mercedes Way, Edgewood,
NY 11717 and its telephone number is 1-877-830-4936.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><B><A NAME="a_034"></A>HOUSEHOLDING</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">SEC rules permit companies and intermediaries such
as brokers to satisfy delivery requirements for proxy statements and notices with respect to two or more stockholders sharing the same
address by delivering a single proxy statement or a single notice addressed to those stockholders. This process, which is commonly referred
to as &ldquo;householding,&rdquo; provides cost savings for companies and helps the environment by conserving natural resources. Some
brokers household proxy materials, delivering a single proxy statement or notice to multiple stockholders sharing an address unless contrary
instructions have been received from the affected stockholders. Once you have received notice from your broker that they will be householding
materials to your address, householding will continue until you are notified otherwise or until you revoke your consent. If, at any time,
you no longer wish to participate in householding and would prefer to receive a separate proxy statement or notice, or if your household
is receiving multiple copies of these documents and you wish to request that future deliveries be limited to a single copy, please notify
your broker. You can also request prompt delivery of a copy of this Proxy Statement and the Annual Report by contacting Broadridge Financial
Solutions, LLC, in writing at 51 Mercedes Way, Edgewood, NY 11717 or via telephone at 1-877-830-4936.</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"><B><A NAME="a_036"></A>ANNEX A </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><B>FORM OF CERTIFICATE OF AMENDMENT<BR>
OF<BR>
FOURTH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF<BR>
iSPECIMEN INC.<BR>
A DELAWARE CORPORATION PURSUANT TO SECTION 242 OF THE<BR>
GENERAL CORPORATION LAW OF THE STATE OF DELAWARE</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 20pt">iSpecimen Inc.,
a corporation duly organized and existing under the General Corporation Law of the State of Delaware (the &ldquo;<B>Corporation</B>&rdquo;),
does hereby certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 20pt"><B>First</B>: That the name of this
Corporation is iSpecimen Inc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 20pt"><B>Second:</B>
That the certificate of incorporation of the Corporation was originally filed with the Delaware Secretary of State on July 2, 2009 (the
&ldquo;<B>Certificate of Incorporation</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 20pt"><B>Third:</B> That,
upon the Effective Time (as hereinafter defined) of this Certificate of Amendment (the &ldquo;<B>Split Effective Time</B>&rdquo;) each
share of the Common Stock issued and outstanding immediately prior to the date and time of the filing hereof with the Secretary of State
of Delaware shall be automatically changed and reclassified into a smaller number of shares such that each [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;)] shares of issued Common Stock immediately prior to the Split Effective Time is reclassified
into one share of Common Stock. Notwithstanding the immediately preceding sentence, there shall be no fractional shares issued and, in
lieu thereof, a holder of Common Stock on the Split Effective Time who would otherwise be entitled to a fraction of a share as a result
of the reclassification, following the Split Effective Time, shall receive a full share of Common Stock upon the surrender of such stockholders&rsquo;
old stock certificate. No stockholders will receive cash in lieu of fractional shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 20pt">&ldquo;<B>Fourth:</B>
That, the amendment to the Certificate of Incorporation of the Corporation herein was duly adopted by the Corporation&rsquo;s Board of
Directors at a Special Meeting of the Board of Directors held on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&thinsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2025, and by the stockholders at a meeting of stockholders at which the necessary number of shares were
voted in favor of the proposed amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 20pt"><B>Fifth:</B> That
the amendment to the Certificate of Incorporation was duly adopted in accordance with Section 242 of the General Corporation Law of the
State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 20pt"><B>Sixth:</B> This
Certificate of Amendment to the Certificate of Incorporation of the Corporation shall become effective upon the filing of this Certificate
of Amendment (the &ldquo;<B>Effective Time</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">[<I>Signature Page Follows</I>]</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 20pt"><B>IN WITNESS WHEREOF</B>,
the Corporation has caused this Certificate to be executed by its duly authorized officer on this day
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 20pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">iSPECIMEN INC.&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:&nbsp;</TD>
    <TD STYLE="width: 35%">Robert Bradley Lim</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Chief Executive Officer</TD></TR>
  </TABLE>


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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"><B><A NAME="a_037"></A>ANNEX B</B></P>

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

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

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

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

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
