<SEC-DOCUMENT>0001144204-18-065827.txt : 20181221
<SEC-HEADER>0001144204-18-065827.hdr.sgml : 20181221
<ACCEPTANCE-DATETIME>20181221084534
ACCESSION NUMBER:		0001144204-18-065827
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		10
CONFORMED PERIOD OF REPORT:	20181221
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20181221
DATE AS OF CHANGE:		20181221

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			APPLIED DNA SCIENCES INC
		CENTRAL INDEX KEY:			0000744452
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS BUSINESS SERVICES [7380]
		IRS NUMBER:				592262718
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36745
		FILM NUMBER:		181247659

	BUSINESS ADDRESS:	
		STREET 1:		50 HEALTH SCIENCES DRIVE
		CITY:			STONY BROOK
		STATE:			NY
		ZIP:			11790
		BUSINESS PHONE:		631-240-8800

	MAIL ADDRESS:	
		STREET 1:		50 HEALTH SCIENCES DRIVE
		CITY:			STONY BROOK
		STATE:			NY
		ZIP:			11790

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PROHEALTH MEDICAL TECHNOLOGIES INC
		DATE OF NAME CHANGE:	20010504

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DCC ACQUISITION CORP
		DATE OF NAME CHANGE:	19990211

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DATALINK CAPITAL CORP/TX/
		DATE OF NAME CHANGE:	19980306
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tv509599_8k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>FORM 8-K
</B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO SECTION 13 OR 15(d) OF THE</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES EXCHANGE ACT OF 1934 </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
December 21, 2018</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>Applied
DNA Sciences, Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Delaware</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other jurisdiction</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of incorporation)</P></TD>
    <TD STYLE="width: 34%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>001-36745</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Commission File Number)</P></TD>
    <TD STYLE="width: 33%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>59-2262718</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(IRS Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>50 Health Sciences Drive</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Stony Brook, New York 11790</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices;
zip code)</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>631-240-8800</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"><B>N/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Former name or former address, if changed
since last report)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d 2(b))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Emerging
growth company </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 1.01. Entry into a Material Definitive
Agreement.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 21, 2018, we entered into an
underwriting agreement (the &ldquo;Agreement&rdquo;) with Maxim Group LLC (&ldquo;Maxim&rdquo;), as the sole underwriter and book
running manager, with respect to the issuance and sale of an aggregate of 5,500,000 shares (the &ldquo;Shares&rdquo;) of common
stock, par value $0.001 per share (the &ldquo;Common Stock&rdquo;), together with warrants to purchase an aggregate of 5,500,000
shares of common stock (the &ldquo;Warrants&rdquo;) at an exercise price equal to $0.50 per share of Common Stock (the &ldquo;Exercise
Price&rdquo;) in an underwritten public offering. The terms of the Warrants are set forth in a Form of Warrant attached to this
report on Form 8-K. The public offering price for each Share together with the accompanying Warrant was $0.50. Pursuant to the
Agreement, we also granted Maxim a 45-day option to purchase an additional 825,000 Shares and/or additional Warrants to purchase
825,000 Shares to cover any over-allotments made by the underwriters in the sale and distribution of the Shares and Warrants. The
gross proceeds of the offering, before deducting underwriter discounts and commissions and other offering expenses, are $2,750,000
million, or approximately $3,162,500 million if the underwriters exercise in full their overallotment option.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Common Stock and Warrants are being
offered and sold to the public pursuant to the Company&rsquo;s registration statement on Form S-3, (File No. 333-218158), which
was declared effective with the U.S. Securities and Exchange Commission (&ldquo;SEC&rdquo;) on May 26, 2017. A preliminary prospectus
supplement relating to the offering was filed with the SEC on December 19, 2018 and is available on the SEC&rsquo;s web site at
<U>http://www.sec.gov</U>. Copies of the final prospectus supplement may be obtained from Maxim Group LLC, 405 Lexington Avenue,
New York, NY 10174, (800) 724-0761.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Agreement, we agreed to
pay Maxim a cash fee equal to 7% of the aggregate gross proceeds raised in this offering. We have also agreed to pay Maxim a non-accountable
expense allowance relating to the offering, including without limitation the reasonable fees, disbursements and other charges of
the underwriters&rsquo; counsel, up to $75,000.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Agreement contains customary representations,
warranties and agreements by us, customary conditions to closing, indemnification obligations of us and Maxim, including for liabilities
under the Securities Act of 1933, as amended, other obligations of the parties and termination provisions. The representations,
warranties and covenants contained in the Agreement were made only for purposes of such agreement and as of specific dates, were
solely for the benefit of the parties to such Agreement, and may be subject to limitations agreed upon by the contracting parties,
including being qualified by confidential disclosures exchanged between the parties in connection with the execution of the Agreement.
The offering is expected to close on or about December 26, 2018 (the &ldquo;Closing Date&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Agreement, subject to certain
exceptions, we have agreed not to offer, sell or otherwise dispose of any of our Common Stock for a period ending 60 days after
the Closing Date without first obtaining the written consent of Maxim. We have also granted Maxim a right of first refusal to act
as placement agent, underwriter or investment bank on any subsequent private or public offering of our securities for a period
of 9 months from the sale of Common Stock and Warrants in this offering.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Form of Warrant, each Warrant
will be exercisable beginning on the date of issuance (the &ldquo;Initial Exercise Date&rdquo;). The Warrants will be exercisable
for five years from the Initial Exercise Date, but not thereafter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Warrants include an adjustment provision
that, subject to certain exceptions, reduces their exercise price if the Company issues Common Stock or Common Stock equivalents
at a price lower than the then-current exercise price of the Warrants, subject to a minimum exercise price of $0.14 per share.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to limited exceptions, a holder
of Warrants will not have the right to exercise any portion of its Warrants if the holder, together with its affiliates, would
beneficially own in excess of 4.99% (or, at the election of the holder, 9.99%) of the number of shares of our Common Stock outstanding
immediately after giving effect to such exercise (the &ldquo;Beneficial Ownership Limitation&rdquo;); provided, however, that upon
61 days&rsquo; prior notice to us, the holder may increase the Beneficial Ownership Limitation, provided that in no event shall
the Beneficial Ownership Limitation exceed 9.99%.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The exercise price and number of the shares
of our Common Stock issuable upon the exercise of the Warrants will be subject to adjustment in the event of any stock dividends
and splits, reverse stock split, recapitalization, reorganization or similar transaction, as described in the Form of Warrant.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On or after any trading day 75 days after
the Closing Date, if the daily volume weighted average price of our common stock fails to exceed the Exercise Price, the aggregate
number of warrant shares issuable in a cashless exercise shall equal the product of (i) the aggregate number of warrant shares
that would be issuable upon exercise of the Warrants if such exercise were by means of a cash exercise and (ii) 0.70.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing descriptions of the Agreement
and Form of Warrant are qualified in their entirety by reference to the full text of the Agreement and the Form of Warrant which
are attached to this report on Form 8-K as Exhibits 1.1 and 4.1.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A copy of the legal opinion of Pepper Hamilton LLP relating to the legality of the issuance and sale of
the Shares is filed as Exhibit 5.1 to this Current Report on Form 8-K.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s press releases, dated
December 19, 2018 and December 21, 2018, announcing the offering and pricing of the offering, respectively, are attached as Exhibits
99.1 and 99.2, respectively, to the Current Report on Form 8-K.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This report does not constitute an offer
to sell or the solicitation of an offer to buy, and these securities cannot be sold in any state or jurisdiction in which this
offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any state or
jurisdiction. Any offer will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective
registration statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This report contains forward-looking statements.
Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies,
predictions or any other statements related to our future activities, or future events or conditions. These statements are based
on current expectations, estimates and projections about our business based, in part, on assumptions made by management and involve
a number of risks and uncertainties, many of which are beyond the control of the Company including the substantial doubt relating
to the Company&rsquo;s ability to continue as a going concern. These statements are not guarantees of future performances and involve
risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially
from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those risks discussed
in our Annual Report on Form 10-K and in other documents that we file from time to time with the SEC. Any forward-looking statements
speak only as of the date on which they are made, and we do not undertake any obligation to update any forward-looking statement
to reflect events or circumstances after the date of this report, except as required by law.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>(d) Exhibits</I></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; font-size: 10pt"><A HREF="tv509599_ex1-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</FONT></A></TD>
    <TD STYLE="width: 90%; font-size: 10pt; white-space: nowrap"><A HREF="tv509599_ex1-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting
    Agreement entered into by and between Applied DNA Sciences, Inc. and Maxim Group LLC, as sole underwriter, dated December 21, 2018.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="tv509599_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><A HREF="tv509599_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of Warrant.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="tv509599_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><A HREF="tv509599_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Pepper Hamilton LLP.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="tv509599_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><A HREF="tv509599_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press Release dated December 19, 2018.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="tv509599_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.2</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><A HREF="tv509599_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press Release dated December 21, 2018.</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: December 21, 2018</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">APPLIED DNA SCIENCES, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; border-bottom: white 2.25pt solid"></TD>
    <TD STYLE="width: 7%; border-bottom: white 2.25pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD STYLE="width: 33%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ James A. Hayward </FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James A. Hayward</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
    </B></FONT><B><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No.</FONT></B></TD>
    <TD STYLE="white-space: nowrap; width: 1%; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD STYLE="white-space: nowrap; width: 89%; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tv509599_ex1-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD><A HREF="tv509599_ex1-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting Agreement entered into by and between Applied DNA Sciences, Inc. and Maxim Group LLC, as sole underwriter, dated December 21, 2018.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tv509599_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD><A HREF="tv509599_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of Warrant.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tv509599_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD><A HREF="tv509599_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Pepper Hamilton LLP.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tv509599_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD><A HREF="tv509599_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press Release dated December 19, 2018.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tv509599_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.2</FONT></A></TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD><A HREF="tv509599_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press Release dated December 21, 2018.</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>


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<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>tv509599_ex1-1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
<HTML>
<HEAD>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 1.1</B></P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">5,500,000 Shares of Common Stock and</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">5,500,000 Warrants to Purchase Shares
of Common Stock</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">APPLIED DNA SCIENCES, INC.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">December 21, 2018</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">405 Lexington Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10174</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Applied DNA Sciences,
Inc., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), proposes, subject to the terms and conditions contained herein,
(this &ldquo;<B>Agreement</B>&rdquo;), to sell to you, Maxim Group LLC (&ldquo;<B>Maxim</B>&rdquo; or the &ldquo;<B>Underwriter</B>&rdquo;),
an aggregate of 5,500,000 shares of the Company&rsquo;s common stock, $0.001 par value per share (the &ldquo;<B>Common Stock</B>&rdquo;)
and 5,500,000 warrants (the &ldquo;<B>Warrants</B>&rdquo;) with the right to purchase one share of Common Stock at an exercise
price of $0.50 per share (together, &ldquo;<B>Securities</B>&rdquo;). In addition, the Company proposes to grant to the Underwriter
an option to purchase up to an additional 825,000 shares of Common Stock (the &ldquo;<B>Option Shares</B>&rdquo;) and/or up to
an additional 825,000 Warrants (the &ldquo;<B>Option Warrants</B>&rdquo;) from the Company for the purpose of covering over-allotments
in connection with the sale of the Securities (collectively, the &ldquo;<B>Option Securities</B>&rdquo;). The Securities and the
Option Securities are collectively referred to herein as the context requires as the &ldquo;<B>Transaction Securities</B>.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company has prepared
and filed in conformity with the requirements of the Securities Act of 1933, as amended (the &ldquo;<B>Securities Act</B>&rdquo;),
and the published rules and regulations thereunder (the &ldquo;<B>Rules</B>&rdquo;) adopted by the Securities and Exchange Commission
(the &ldquo;<B>Commission</B>&rdquo;), a Registration Statement on Form S-3 (No. 333-218158), including the related base prospectus
and all exhibits, financial schedules and all documents and information deemed to be a part thereof (the &ldquo;<B>Registration
Statement</B>&rdquo;), covering the registration of certain classes of securities of the Company (including the Common Stock and
Warrants) under the Securities Act for offer and sale from time to time in accordance with Rule 415 of the Rules. The Registration
Statement was declared effective by the Commission on May 26, 2017 (the &ldquo;<B>Effective Date</B>&rdquo;). Promptly after execution
and delivery of this Agreement, the Company will file a prospectus supplement in accordance with the provisions of Rule 430B and
paragraph (b) of Rule 424 of the Securities Act. The term &ldquo;<B>Rule 430B Information</B>&rdquo; means any information included
in such prospectus supplement that was omitted from the Registration Statement at the time it became effective but that is deemed
to be part of and included in the Registration Statement pursuant to Rule 430B. The term &ldquo;<B>Preliminary Prospectus</B>&rdquo;
means each base prospectus and prospectus supplement used in connection with the offering of the Transaction Securities that omitted
Rule 430B Information, including any document incorporated by reference therein at such time. If the Company has filed an abbreviated
registration statement to register additional Securities pursuant to Rule 462(b) under the Rules (the &ldquo;<B>462(b) Registration
Statement</B>&rdquo;), then any reference herein to the Registration Statement shall also be deemed to include such 462(b) Registration
Statement. The term &ldquo;<B>Prospectus</B>&rdquo; as used in this Agreement means the Preliminary Prospectus and the final prospectus
supplement that includes Rule 430B Information filed with the Commission pursuant to Rule 424(b), including any document incorporated
by reference therein at such time.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company understands
that the Underwriter proposes to make a public offering of Securities (the &ldquo;<B>Offering</B>&rdquo;), as set forth in and
pursuant to the Prospectus, as soon after the date of this Agreement as the Underwriter deems advisable. The Company hereby confirms
that the Underwriter has been authorized to distribute or cause to be distributed each Preliminary Prospectus, and each Issuer-Represented
Free Writing Prospectus, if any (as hereinafter defined) and is authorized to distribute the Prospectus (as from time to time amended
or supplemented if the Company furnishes amendments or supplements thereto to the Underwriter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.3pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Sale,
Purchase, Delivery and Payment for Securities</B>. On the basis of the representations, warranties and agreements contained in,
and subject to the terms and conditions of, this Agreement:</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company agrees to issue and sell to the Underwriter, and the Underwriter agrees to purchase from the Company, the Securities at
a purchase price of $0.464999907 per share of Common Stock and $0.000000093 per Warrant, representing a 7% discounted price from
the price the Underwriter shall sell the Securities to the public.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company hereby grants to the Underwriter an option to purchase all or any part of the Option Shares at a price per share equal
to $0.464999907, and/or all or any part of the Option Warrants at $0.000000093 per warrant. Such option may be exercised only to
cover over-allotments in the sales of Securities by the Underwriter and may be exercised in whole or in part at any time on or
before 12:00 noon, Eastern Standard Time (&ldquo;<B>EST</B>&rdquo;), on the business day before Securities Closing Date (as defined
below), and from time to time thereafter within 45 days after the date of this Agreement, in each case upon written or electronic
notice, or verbal or telephonic notice confirmed by written or electronic notice, by the Underwriter to the Company no later than
12:00 noon, EST, on the business day before Securities Closing Date or at least one business day before the Option Securities Closing
Date (as defined below), as the case may be, setting forth the number of Option Shares and Option Warrants to be purchased and
the time and date (if other than Securities Closing Date) of such purchase.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
a period of 9 months from the date of the commencement of sales of Securities under this Agreement, if the Company, any subsidiary
or affiliate of the Company or any successor to the Company decides to engage any placement agent, underwriter or investment bank
on a fee basis in connection with a private placement or public offering of securities of the Company or any of its subsidiaries,
affiliates or successor (a &ldquo;Subsequent Offering&rdquo;), then the Company shall provide prompt written notice of the Subsequent
Offering to the Underwriter. The Underwriter will then be entitled to a five business day right of first refusal (the &ldquo;ROFR&rdquo;),
beginning on the day it receives such written notice from the Company, to act as agent or manager for the Subsequent Offering.
The terms of the engagement presented to the Underwriter must be the same as those discussed or negotiated with any other placement
agent, underwriter or investment bank. In order to exercise this ROFR, the Underwriter must deliver written notice to the Company
of such exercise within such five business day period. Should the Underwriter decline to accept this engagement, or fails to deliver
written notice to the Company within the five business day period, the Company may then freely pursue the Subsequent Offering with
any other placement agent, underwriter or investment bank.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment
of the purchase price for, and delivery of the Securities as provided for in <U>Section 1(e)</U> hereof, shall be made at the offices
of Maxim Group LLC, 405 Lexington Avenue, New York, NY 10174 or at such other place as shall be agreed upon by the Underwriter
and the Company, at 10:00 a.m., EST, on the second (or if Securities are priced, as contemplated by Rule 15c6-1(c) under the Securities
and Exchange Act of 1934, as amended (the &ldquo;<B>Exchange Act</B>&rdquo;), after 4:30 p.m. EST, fourth) business day following
the date of this Agreement, or such earlier date as the parties agree (such time and date of delivery and payment are called the
&ldquo;<B>Securities Closing Date</B>&rdquo;). In addition, in the event that any or all of the Option Securities are purchased
by the Underwriter, payment of the purchase price, and delivery of such Option Securities shall be made at the above-mentioned
offices, or at such other place as shall be agreed upon by the Underwriter and the Company, on each date of delivery as specified
in the notice from the Underwriter to the Company (such time and date of delivery and payment are called the &ldquo;<B>Option Securities
Closing Date</B>&rdquo;). Securities Closing Date and any Option Securities Closing Date are called, individually, a &ldquo;<B>Closing
Date</B>&rdquo; and, together, the &ldquo;<B>Closing Dates</B>.&rdquo;</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment
shall be made to the Company by wire transfer of immediately available funds or by certified or official bank check or checks payable
in New York Clearing House (same day) funds drawn to the order of the Company against delivery of the securities comprising Securities
to the Underwriter of Securities or Option Securities to be purchased by it.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
certificates evidencing the Securities are requested by the Underwriter for delivery on a Closing Date, such certificates shall
be registered in such names and shall be in such denominations as the Underwriter shall request in writing at least two full business
days before Securities Closing Date or, in the case of Option Securities, on the day of notice of exercise of the option as described
in <U>Section 1(b)</U>. If no certificates are so requested, the Securities or Option Securities shall be delivered on each Closing
Date (or the Option Securities Closing Date in the case of Option Securities) by or on behalf of the Company to the Underwriter
through the facilities of the Depository Trust Company (&ldquo;<B>DTC</B>&rdquo;) for the account of the Underwriter. If certificates
are so requested, the Company will cause the certificates representing the Securities or Option Securities to be made available
for checking and packaging, at such place as is designated by the Underwriter, on the full business day before Securities Closing
Date (or the Option Securities Closing Date in the case of the Option Securities).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.3pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Representations
and Warranties of the Company</B>. The Company represents and warrants to the Underwriter as of the date hereof, as of Securities
Closing Date and as of each Option Securities Closing Date (if any), as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company meets the requirements for use of Form S-3 for registration under the Securities Act, including the transaction requirements
set forth in General Instruction I.B.6. of that form. The Registration Statement (including any Rule 462(b) Registration Statement)
has been declared effective by the Commission or become automatically effective under the Securities Act and no stop order suspending
the effectiveness of the Registration Statement has been issued and no proceeding for that purpose has been instituted or is pending
or, to the knowledge of the Company, is threatened or contemplated by the Commission or any other governmental entity. No order
preventing or suspending the use of any Prospectus has been issued and no proceeding for that purpose has been instituted or is
pending or, to the knowledge of the Company, is threatened or contemplated by the Commission or any other governmental entity.
The Company has fully complied with any request on the part of the Commission or other governmental entity for additional information.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
the Effective Date, at the date hereof, at the Closing Date and at the Option Securities Closing Date (if any), each of the Registration
Statement and any amendment or supplement thereto complied, complies and will comply in all material respects with the requirements
of the Securities Act and the Rules, and did not, does not and will not contain an untrue statement of a material fact or omit
to state a material fact required to be stated therein or necessary to make the statements therein not misleading. Neither the
Prospectus nor any amendment or supplement thereto, at the respective dates of the Prospectus or such amendment or supplement,
at the respective times that the Prospectus and any such amendment or supplement were issued, at any of the Closing Dates, included,
includes or will include an untrue statement of a material fact or omitted, omits or will omit to state a material fact required
to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Prospectus filed as part of the Registration Statement as originally filed or as part of any amendment thereto, or filed pursuant
to Rule 424 under the Securities Act, complied when so filed in all material respects with the Securities Act and the Rules and
the Prospectus delivered to the Underwriter for use in connection with this offering was identical to the electronically transmitted
copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
the Securities Closing Date, each Issuer-Represented Free Writing Prospectus (as defined below) identified on <B><U>Schedule I</U></B>
hereto and the Prospectus (collectively, the &ldquo;<B>General Disclosure Package</B>&rdquo;), did not include an untrue statement
of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading. As used in this section and elsewhere in this Agreement, &ldquo;<B>Issuer-Represented
Free Writing Prospectus</B>&rdquo; means any &ldquo;issuer free writing prospectus,&rdquo; as defined in Rule 433 of the Rules
(&ldquo;<B>Rule 433</B>&rdquo;), relating to the Securities that (i) is required to be filed with the Commission by the Company,
(ii) is a &ldquo;road show that is a written communication&rdquo; whether or not required to be filed with the Commission, or (iii)
is exempt from filing pursuant to Rule 433(d)(5)(i) because it contains a description of the Securities or of the offering that
does not reflect the final terms, in each case in the form filed or required to be filed with the Commission or, if not required
to be filed, in the form retained in the Company&rsquo;s records pursuant to Rule 433(g).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Issuer-Represented Free Writing Prospectus, as of its issue date and at all subsequent times through the completion of the public
offer and sale of the Securities or until any earlier date that the Company notified or notifies the Underwriter as described in
<U>Section 4(a)(iii)</U>, does not and will not include any information that conflicted, conflicts or will conflict in any material
respect with the information contained in the Registration Statement or the Prospectus, including any document incorporated by
reference therein and any other prospectus deemed to be a part thereof that has not been superseded or modified.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
representations and warranties in this section shall not apply to statements in or omissions from the Registration Statement, the
Prospectus or any Issuer-Represented Free Writing Prospectus, or the General Disclosure Package or any amendment or supplement
thereto made in reliance upon and in conformity with information furnished to the Company in writing by the Underwriter specifically
for use in therein; provided that the Company acknowledges that the only information furnished in writing by the Underwriter for
use therein consists solely of the disclosure contained in the &ldquo;Underwriting&rdquo; section of the Prospectus (the &ldquo;<B>Underwriter
Information</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
documents incorporated or deemed to be incorporated by reference in the Registration Statement, the General Disclosure Package
and the Prospectus, at the time they were or hereafter are filed with the Commission, complied and will comply in all material
respects with the requirements of the Exchange Act and the rules and regulations promulgated thereunder, as applicable, and when
read together with the other information in the Registration Statement, the General Disclosure Package or the Prospectus, as the
case may be, (a) at the Effective Date, (b) at the earlier of the time the Prospectus was first used and the date and time of the
first contract of sale of the Securities, (c) at the Closing Date and (d) and, if any Option Securities are purchased, at the Option
Securities Closing Date, did not and will not contain an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
consolidated financial statements of the Company and its subsidiaries (including all notes and schedules thereto) included or incorporated
by reference in the Registration Statement, the General Disclosure Package and the Prospectus present fairly the financial position
of such entities at the dates indicated and the statement of operations, stockholders&rsquo; equity and cash flows of, or such
other permitted financial statements for, such entities for the periods specified, and related schedules and notes thereto. Except
as included therein, no historical or pro forma financial statements or supporting schedules are required to be included or incorporated
by reference in the Registration Statement, the General Disclosure Package or the Prospectus under the Securities Act or the Rules
promulgated thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marcum
LLP (the &ldquo;<B>Auditor</B>&rdquo;) whose reports are filed with the Commission as a part of the Registration Statement and
Prospectus, is and, during the periods covered by their reports, was, to the knowledge of the Company, an independent public accounting
firm as required by the Securities Act, the Rules and the rules and regulations of the Public Company Accounting Oversight Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement
fairly presents the information called for in all material respects and has been prepared in accordance with the Commission&rsquo;s
rules and guidelines applicable thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has been duly organized and is validly existing as a corporation in good standing under the laws of the State of Delaware
and has corporate power and authority to own, lease, and operate its properties and to conduct its business as described in the
Registration Statement, the General Disclosure Package and the Prospectus and to enter into and perform its obligations under this
Agreement and the various other agreements required hereunder and thereunder to which it is a party; and the Company is duly qualified
as a foreign corporation to transact business and is in good standing in each other jurisdiction in which such qualification is
required, whether by reason of the ownership or leasing of property or the conduct of business, except for such jurisdictions where
the failure to so qualify individually or in the aggregate would not have a material adverse effect on the assets, properties,
condition, financial or otherwise, or in the results of operations, business affairs or business prospects (as described in the
Registration Statement, the General Disclosure Package and the Prospectus) of the Company and its subsidiaries considered as a
whole (a &ldquo;<B>Material Adverse Effect</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
subsidiary of the Company has been duly organized and is validly existing in good standing under the laws of the jurisdiction of
its incorporation or organization, has corporate or similar power and authority to own, lease and operate its properties and to
conduct its business as described in the Registration Statement, the General Disclosure Package and the Prospectus and is duly
qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by
reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify would not have
a Material Adverse Effect. Except as otherwise disclosed in the Registration Statement, the General Disclosure Package and the
Prospectus, all of the issued and outstanding capital stock or equity interests of each subsidiary has been duly authorized and
validly issued, is fully paid and non-assessable and is owned by the Company, directly or through subsidiaries, free and clear
of any material security interest, mortgage, pledge, lien, encumbrance, claim or equity. None of the outstanding shares of capital
stock or equity interests of any subsidiary was issued in violation of the preemptive or similar rights of any securityholder of
such subsidiary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
authorized, issued and outstanding shares of capital stock of the Company are as set forth in the Registration Statement, the General
Disclosure Package and the Prospectus. The outstanding shares of capital stock of the Company have been duly authorized and validly
issued and are fully paid and non-assessable. None of the outstanding shares of capital stock of the Company was issued in violation
of the preemptive or other similar rights of any securityholder of the Company. Except as disclosed in the Registration Statement,
the General Disclosure Package and the Prospectus: other than with respect to (x) any shares reserved pursuant to the Company&rsquo;s
equity incentive plan as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, and (y) the
Common Stock underlying the warrants described in the Prospectus, (i) no shares of capital stock of the Company are reserved for
any purpose, (ii) no outstanding securities are convertible into or exchangeable for any shares of capital stock of the Company,
and (iii) there are no outstanding options, rights (preemptive or otherwise) or warrants to purchase or subscribe for shares of
capital stock or any other securities of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
necessary corporate action has been duly and validly taken by the Company to authorize the execution, delivery and performance
of this Agreement and the Warrants and the issuance and sale of the Securities and the Common Stock underlying the Warrants. This
Agreement has been duly authorized, executed and delivered by the Company and the Warrants, upon issuance, will have been duly
authorized, executed and delivered by the Company.</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When
issued, the Warrants will constitute valid and binding obligations of the Company to issue and sell, upon exercise thereof and
payment of the respective exercise prices therefor, the number and type of securities of the Company called for thereby in accordance
with the terms thereof and such Warrants are enforceable against the Company in accordance with their respective terms, except:
(i) as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium
and similar laws relating to or affecting creditors&rsquo; rights and remedies generally; (ii) as enforceability of any indemnification
or contribution provision may be limited under foreign, federal and state securities laws; and (iii) that the remedy of specific
performance and injunctive and other forms of equitable relief may be subject to the equitable defenses and to the discretion of
the court before which any proceeding therefor may be brought.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Common Stock has been duly authorized for issuance and sale to the Underwriter or its nominees pursuant to this Agreement, and
when the Common Stock has been issued and delivered by the Company pursuant to this Agreement against payment of the consideration
set forth herein, such Common Stock will be validly issued and fully paid and non-assessable; and the issuance of the Common Stock
is not subject to the preemptive or other similar rights of any securityholder of the Company. The Common Stock conforms in all
material respects to all statements relating thereto contained in the Registration Statement, the General Disclosure Package and
the Prospectus and such description conforms in all material respects to the rights set forth in the instruments defining the same;
and no holder of the Common Stock will be subject to personal liability by reason of being such a holder. The certificates, if
any, to be used to evidence the securities comprising the Common Stock will, at the Closing Date, be in due and proper form and
will comply in all material respects with all applicable legal requirements, the requirements of the charter and by-laws of the
Company and the requirements of the Nasdaq Capital Market (&ldquo;<B>Nasdaq</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
shares of Common Stock underlying the Warrants have been duly authorized for issuance, conform to the description thereof in the
Registration Statement, the General Disclosure Package and in the Prospectus and have been validly reserved for future issuance
and will, upon exercise of the Warrants and payment of the exercise price thereof, be duly and validly issued, fully paid and non-assessable
and will not be subject to the preemptive or other similar rights of any securityholder of the Company. No holder of the Common
Stock received upon exercise of the Warrants will be subject to personal liability by reason of being such a holder. The certificates,
if any, to be used to evidence the Warrants and the Common Stock underlying the Warrants, at the Closing Date, be in due and proper
form and will comply in all material respects with all applicable legal requirements, the requirements of the charter and by-laws
of the Company and the requirements of Nasdaq.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company and each of its subsidiaries has all requisite corporate power and authority, and all necessary authorizations, approvals,
consents, orders, licenses, certificates and permits of and from all governmental or regulatory bodies or any other person or entity
(collectively, the &ldquo;<B>Permits</B>&rdquo;), to own, lease and license its assets and properties and conduct its business
as presently conducted, all of which are valid and in full force and effect, except where the lack of such Permits, individually
or in the aggregate, would not have a Material Adverse Effect. The Company and each of its subsidiaries, are fulfilling, have fulfilled,
are performing and have performed in all material respects all of their respective obligations with respect to such Permits and
no event has occurred that allows, or after notice or lapse of time would allow, revocation or termination thereof or results in
any other material impairment of the rights of such entity thereunder. Except as may be required under the Securities Act, state
and foreign Blue Sky laws and the rules of the Financial Industry Regulatory Authority (&ldquo;<B>FINRA</B>&rdquo;) and Nasdaq,
no other Permits are required to enter into, deliver and perform the obligations of the Company under this Agreement or the Warrants
and for the Company to issue and sell the Securities.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company and each of its subsidiaries owns or possesses, and will continue to own or possess immediately following the Closing in
all material respects, legally enforceable rights to use all patents, patent rights, inventions, trademarks, trademark applications,
trade names, service marks, copyrights, copyright applications, licenses, software, know-how and other similar rights and proprietary
knowledge (collectively, &ldquo;<B>Intellectual Property</B>&rdquo;) necessary for the conduct of its business. Except as disclosed
in the Company&rsquo;s disclosure schedule attached hereto as <B><U>Exhibit B</U></B>, there are no third-party joint owners of
any Intellectual Property owned by the Company. To the Company&rsquo;s knowledge, (i) none of the conduct, the sale or the use
of any product or service offered by the Company or any of its subsidiaries infringes, misappropriates or violates any Intellectual
Property of a third party and (ii) no person or entity (including any current or former employee or consultant of the Company)
is infringing, violating or misappropriating any of the Intellectual Property owned or licensed by the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company and each of its subsidiaries have complied with their duty of candor and disclosure to the United States Patent and Trademark
Office and any relevant foreign patent office with respect to all Intellectual Property registrations filed by or on behalf of
the Company or any of its subsidiaries and have made no material misrepresentation in such applications. All assignments of Intellectual
Property owned by the Company and its subsidiaries have been properly executed and recorded, except for such deficiencies as would
not materially affect the enforceability thereof. To the Company&rsquo;s knowledge, all Intellectual Property owned and licensed
by the Company is valid and enforceable. All issuance, renewal, maintenance and other payments that are or have become due with
respect to Intellectual Property owned by the Company have been timely paid by or on behalf of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subsequent
to the respective dates as of which information is given in the Registration Statement, the General Disclosure Package and the
Prospectus: (i) there has not been any event which would reasonably be expected to result in a Material Adverse Effect; (ii) neither
the Company nor any of its subsidiaries has sustained any loss or interference with its assets, businesses or properties (whether
owned or leased) from fire, explosion, earthquake, flood or other calamity, whether or not covered by insurance, or from any labor
dispute or any court or legislative or other governmental action, order or decree which would reasonably be expected to materially
affect the financial results or financial condition of the Company or any of its subsidiaries. Except as disclosed in the Registration
Statement, the General Disclosure Package and the Prospectus, since the date of the latest balance sheet included in the Registration
Statement, the General Disclosure Package and the Prospectus, neither the Company nor any of its subsidiaries has (A) issued any
securities or incurred any liability or obligation, direct or contingent, for borrowed money, except such liabilities or obligations
incurred in the ordinary course of business, (B) entered into any transaction not in the ordinary course of business or (C) declared
or paid any dividend or made any distribution on any shares of its stock or redeemed, purchased or otherwise acquired or agreed
to redeem, purchase or otherwise acquire any shares of its capital stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
is no document, contract or other agreement required to be described in the Registration Statement, the General Disclosure Package
or the Prospectus or to be filed as an exhibit to the Registration Statement which is not described or filed as required by the
Securities Act or Rules. Each description of a contract, document or other agreement in the Registration Statement, the General
Disclosure Package or the Prospectus accurately reflects in all material respects the terms of the underlying contract, document
or other agreement. Each contract, document or other agreement described in the Registration Statement, the General Disclosure
Package or the Prospectus or filed as exhibits to the Registration Statement is, or upon consummation of the Offering will be,
in full force and effect and is valid and enforceable in all material respects by and against the Company or any of its subsidiaries,
as the case may be, in accordance with its terms, except (i) such contracts or other agreements that have terminated or expired
in accordance with their terms as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, and
(ii) as enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and
similar laws relating to or affecting creditors&rsquo; rights and remedies generally, and subject, as to enforceability, to general
principles of equity and, with respect to equitable relief, the discretion of the court before which any proceeding therefor may
be brought (regardless of whether enforcement is sought in a proceeding at law or in equity), and with respect to indemnification
thereunder, except as rights may be limited by applicable law or policies underlying such law. To the knowledge of the Company,
neither the Company nor any of its subsidiaries is in default in the observance or performance of any term or obligation to be
performed by it under any such agreement, and no event has occurred which with notice or lapse of time or both would constitute
such a default. No default exists, and no event has occurred which with notice or lapse of time or both would constitute a default,
in the due performance and observance of any term, covenant or condition, by the Company or any of its subsidiaries, if a subsidiary
is a party thereto, of any other agreement or instrument to which it is a party or by which it or its properties or business may
be bound or affected which default or event, individually or in the aggregate, would reasonably be expected to have a Material
Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(w)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
statistical and market related data included in the Registration Statement, the General Disclosure Package or the Prospectus are
based on or derived from sources that the Company believes to be reliable and accurate. The Company had a reasonable basis for,
and made in good faith, each &ldquo;forward-looking statement&rdquo; (within the meaning of Section 27A of the Act or Section 21E
of the Exchange Act) contained or incorporated by reference in the Registration Statement, the General Disclosure Package or the
Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the Company nor any of its subsidiaries (i) is in violation of its certificate or articles of incorporation, by-laws, certificate
of limited partnership, agreement of limited partnership, certificate of formation, operating agreement or other organizational
documents, (ii) is in default under, and no event has occurred which, with notice or lapse of time, or both, would constitute a
default under, or result in the creation or imposition of any lien, charge, mortgage, pledge, security interest, claim, limitation
on voting rights, equity, trust or other encumbrance, preferential arrangement, defect or restriction of any kind whatsoever, upon,
any property or assets of the Company or any of its subsidiaries pursuant to, any bond, debenture, note, indenture, mortgage, deed
of trust, loan agreement or other agreement or instrument to which it is a party or by which it is bound or to which any of its
properties or assets is subject or (iii) is in violation of any statute, law, rule, regulation, ordinance, directive, judgment,
decree or order of any judicial, regulatory or other legal or governmental agency or body, foreign or domestic, except (in the
case of clauses (ii) and (iii) above) for violations or defaults that could not (individually or in the aggregate) reasonably be
expected to have a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the execution, delivery and performance of this Agreement and the Warrants by the Company nor the consummation of any of the transactions
contemplated hereby (including, without limitation, the issuance and sale by the Company of the Securities) will give rise to a
right to terminate or accelerate the due date of any payment due under, or conflict with or result in the breach of any term or
provision of, or constitute a default (or an event which with notice or lapse of time or both would constitute a default) under,
or require any consent or waiver under, or result in the execution or imposition of any lien, charge or encumbrance upon any properties
or assets of the Company or any of its subsidiaries pursuant to the terms of: (i) any indenture, mortgage, deed of trust or other
agreement or instrument to which either of the Company or any of its subsidiaries is a party or by which the Company or any of
its subsidiaries or any of their properties or businesses is bound, or any franchise, license, permit, judgment, decree, order,
statute, rule or regulation applicable to either of the Company or any of its subsidiaries, or (ii) violate any provision of certificate
or articles of incorporation, by-laws, certificate of limited partnership, agreement of limited partnership, certificate of formation,
operating agreement or other organizational documents of either of the Company or any of its subsidiaries, except (A) in the case
of clause (i) above, for violations or defaults that would not, individually or in the aggregate, reasonably be expected to have
a Material Adverse Effect, and (B) for such consents or waivers which have already been obtained and are in full force and effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(z)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as otherwise set forth in the Registration Statement, the General Disclosure Package and the Prospectus, no holder of any security
of the Company has any right, which has not been waived or satisfied prior to the date hereof, to have any security owned by such
holder included in the Registration Statement or to demand registration of any security owned by such holder. Each director and
executive officer of the Company and each stockholder of the Company listed on <B><U>Schedule II</U></B> hereto has delivered to
the Underwriter his, her or its enforceable written lock-up agreement in the form attached to this Agreement as <B><U>Exhibit A</U></B>
hereto (&ldquo;<B>Lock-Up Agreement</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(aa)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, there are no legal or governmental
proceedings pending to which either of the Company or any of its subsidiaries is a party or of which any property of the Company
or any of its subsidiaries is the subject; and, to the knowledge of the Company, no such proceedings are threatened or contemplated
by governmental authorities or threatened by others.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(bb)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the Company nor any of its subsidiaries is involved in any labor dispute or, to the knowledge of the Company, is any such dispute
threatened, which dispute would reasonably be expected to result in a Material Adverse Effect. The Company is not aware of any
existing or imminent labor disturbance by the employees of any of its or its subsidiaries, principal suppliers or contractors which
would reasonably be expected to result in a Material Adverse Effect. The Company is not aware of any threatened or pending litigation
between either of the Company or any of its subsidiaries and any of its executive officers and has no reason to believe that such
officers will not remain in the employment of the Company or its subsidiaries, as the case may be.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(cc)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
transaction has occurred between or among either of the Company, its subsidiaries and any of their officers or directors, or five
percent stockholders or any affiliate or affiliates of any such officer or director or five percent stockholders that is required
to be described in and is not described in the Registration Statement, the General Disclosure Package and the Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(dd)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the Company nor any of its subsidiaries has taken, nor will it take, directly or indirectly, any action designed to or which might
reasonably be expected to cause or result in, or which has constituted or which might reasonably be expected to constitute, the
stabilization or manipulation of the price of the Common Stock or any other security of the Company to facilitate the sale or resale
of any of Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ee)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company and its subsidiaries have filed all federal, state, local and foreign tax returns which are required to be filed through
the date hereof, which returns are true and correct in all material respects or has received timely extensions thereof, and has
paid all taxes shown on such returns and all assessments received by it to the extent that the same are material and have become
due. There are no material tax audits or investigations pending; nor are there any material proposed additional tax assessments
against either the Company or its subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ff)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
Listing of Additional Shares Notification Form (the &ldquo;<B>Additional Shares Notification Form</B>&rdquo;) for the Common Stock
was submitted to Nasdaq prior to the date of this Agreement and, as of the date of this Agreement, the Company has received confirmation
from Nasdaq that the review of the Additional Shares Notification Form has been completed. At Closing no stockholder or other approval
is required pursuant to Nasdaq Listing Rule 5635(d).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(gg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has not taken any action designed to, or likely to have the effect of, terminating the registration of the Common Stock
under the Exchange Act or the listing of the Common Stock on Nasdaq, nor has the Company received any notification that the Commission
or Nasdaq is contemplating terminating such registration or listing.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(hh)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
books, records and accounts of the Company and its subsidiaries accurately and fairly reflect, in all material respects, the transactions
in, and dispositions of, the assets of, and the results of operations of, the Company and its subsidiaries. Except as disclosed
in the Registration Statement, General Disclosure Package and Prospectus, the Company and its subsidiaries maintain a system of
internal accounting controls sufficient to provide reasonable assurances that (i) transactions are executed in accordance with
management&rsquo;s general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial
statements in accordance with generally accepted accounting principles and to maintain asset accountability, (iii) access to assets
is permitted only in accordance with management&rsquo;s general or specific authorization and (iv) the recorded accountability
for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is not aware of (i) any material weakness or significant deficiency in the design or operation of internal controls which
could adversely affect the Company&rsquo;s ability to record, process, summarize and report financial data or any material weaknesses
in internal controls, except as disclosed in the Registration Statement, General Disclosure Package and Prospectus; or (ii) any
fraud, whether or not material, that involves management or other employees who have a role in the Company&rsquo;s internal controls.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(jj)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as described in the General Disclosure Package and the Prospectus and as preapproved in accordance with the requirements set forth
in Section 10A of the Exchange Act, the Auditor has not been engaged by the Company to perform any &ldquo;prohibited activities&rdquo;
(as defined in Section 10A of the Exchange Act).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(kk)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as described in the General Disclosure Package and the Prospectus, there are no material off-balance sheet arrangements (as defined
in Item 303 of Regulation S-K) that have or are reasonably likely to have a material current or future effect on the Company&rsquo;s
financial condition, revenues or expenses, changes in financial condition, results of operations, liquidity, capital expenditures
or capital resources.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ll)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company&rsquo;s Board of Directors has validly established an audit committee whose composition satisfies, and upon completion
of the Offering will satisfy, the requirements of Rule 5605 of the Nasdaq Listing Rules and the Board of Directors and/or the audit
committee of the Board of Directors has adopted a charter that satisfies the requirements of Rule 5605 of the Nasdaq Listing Rules.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(mm)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company&rsquo;s Board of Directors has validly established a compensation committee whose composition satisfies, and upon completion
of the Offering will satisfy, the requirements of Rule 5605 of the Nasdaq Listing Rules and the Board of Directors and/or the compensation
committee of the Board of Directors has adopted a charter that satisfies the requirements of Rule 5605 of the Nasdaq Listing Rules.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(nn)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has taken all necessary actions to ensure that it is in compliance in all material respects with all provisions of the
Sarbanes-Oxley Act of 2002 and all rules and regulations promulgated thereunder or implementing the provisions thereof (the &ldquo;<B>Sarbanes-Oxley
Act</B>&rdquo;) that are then in effect and with which the Company is required to comply. The Company has not, directly or indirectly,
including through any subsidiary, extended credit, arranged to extend credit, or renewed any extension of credit, in the form of
a personal loan, to or for any executive officer of the Company or any of its subsidiaries, or to or for any family member or affiliate
of any director or executive officer of the Company or any of its subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(oo)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company and its subsidiaries carry or are entitled to the benefits of insurance, with financially sound and reputable insurers,
in such amounts and covering such risks as is generally maintained by companies of established repute engaged in the same or similar
business, and all such insurance is in full force and effect. The Company does not have any reason to believe that it or any of
its subsidiaries will not be able (A) to renew, if desired, its existing insurance coverage as and when such policies expire or
(B) to obtain comparable coverage from similar institutions as may be necessary or appropriate to conduct its business as now conducted
and not at a cost that is materially more significant. Neither the Company nor any of its subsidiaries has been denied any insurance
coverage that it has sought or for which it has applied.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(pp)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
are no claims, payments, issuances, arrangements or understandings for services in the nature of a finder&rsquo;s, consulting or
origination fee with respect to the introduction of the Company to the Underwriter or the sale of Securities hereunder or any other
arrangements, agreements, understandings, payments or issuances with respect to the Company that may affect the Underwriter&rsquo;s
compensation, as determined by FINRA.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(qq)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, the Company has not made any direct
or indirect payments (in cash, securities or otherwise) to: (i) any person, as a finder&rsquo;s fee, investing fee or otherwise,
in consideration of such person raising capital for the Company or introducing to the Company persons who provided capital to the
Company, (ii) any FINRA member, or (iii) any person or entity that, to the Company&rsquo;s knowledge, has any direct or indirect
affiliation or association with any FINRA member within the 12-month period prior to the date on which the Registration Statement
was filed with the Commission (&ldquo;<B>Filing Date</B>&rdquo;) or thereafter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(rr)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None
of the net proceeds of the Offering will be paid by the Company to any participating FINRA member or any affiliate or associate
of any participating FINRA member, except as specifically authorized herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ss)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the knowledge of the Company, no: (i) officer or director of the Company or its subsidiaries, (ii) owner of 5% or more of the Company&rsquo;s
unregistered securities or (iii) owner of any amount of the Company&rsquo;s unregistered securities acquired within the 180-day
period prior to the Filing Date, has any direct or indirect affiliation or association with any FINRA member. The Company will
advise the Underwriter and its counsel if it becomes aware that any officer, director or stockholder of the Company or its subsidiaries
is or becomes an affiliate or associated person of a FINRA member participating in the Offering.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(tt)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus: (i) the Company and each of its
subsidiaries is in compliance in all material respects with all rules, laws and regulation relating to the use, treatment, storage
and disposal of toxic substances and protection of health or the environment (&ldquo;<B>Environmental Law</B>&rdquo;) which are
applicable to its business; (ii) neither the Company nor any of its subsidiaries has received any notice from any governmental
authority or third party of an asserted claim under Environmental Laws; (iii) the Company and each of its subsidiaries has received
all permits, licenses or other approvals required of it under applicable Environmental Laws to conduct its business and is in compliance
in all material respects with all terms and conditions of any such permit, license or approval; (iv) to the knowledge of the Company,
no facts currently exist that will require either Company or its subsidiaries to make future material capital expenditures to comply
with Environmental Laws; and (v) no property which is or has been owned, leased or occupied by either of the Company or its subsidiaries
has been designated as a &ldquo;Superfund site&rdquo; pursuant to the Comprehensive Environmental Response, Compensation of Liability
Act of 1980, as amended (42 U.S.C. Section 9601, et. seq.) (&ldquo;<B>CERCLA</B>&rdquo;), or otherwise designated as a contaminated
site under applicable state or local law. Neither the Company nor its subsidiaries has been named as a &ldquo;potentially responsible
party&rdquo; under CERCLA.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(uu)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is not and, after giving effect to the Offering, the sale of Securities and the application of proceeds thereof as described
in the General Disclosure Package and the Prospectus, will not be an &ldquo;investment company&rdquo; within the meaning of the
Investment Company Act of 1940, as amended.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(vv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the Company nor any other person associated with it or acting on its behalf including, without limitation, any director, officer,
agent or employee of the Company or its subsidiaries, has, directly or indirectly, while acting on behalf of the Company or its
subsidiaries: (i) used any corporate funds for unlawful contributions, gifts, entertainment or other unlawful expenses relating
to political activity; (ii) made any unlawful payment to foreign or domestic government officials or employees or to foreign or
domestic political parties or campaigns from corporate funds; (iii) violated any provision of the Foreign Corrupt Practices Act
of 1977, as amended; or (iv) made any other unlawful payment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ww)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
payment has been made by the Company or its subsidiaries, or by any person authorized to act on their behalf, to any person in
connection with any contracts with any governmental entity or regulatory agency (&ldquo;<B>Government Contracts</B>&rdquo;), in
violation of applicable procurement laws or regulations. The Company&rsquo;s and its subsidiaries&rsquo; cost accounting and procurement
systems with respect to Government Contracts are in compliance in all material respects with all applicable governmental regulations
and requirements. With respect to each Government Contract: (i) the Company and each subsidiary have complied with all material
terms and conditions of such Government Contract, including all clauses, provisions and requirements incorporated expressly, by
reference or by operation of law therein; (ii) the Company and each such subsidiary have complied with all material requirements
of applicable laws pertaining to such Government Contract; (iii) all representations and certifications executed, acknowledged
or set forth in or pertaining to such Government Contract were complete and correct in all material respects as of their effective
date, and the Company and each subsidiary have complied in all material respects with all such representations and certifications;
(iv) neither the United States government nor any prime contractor, subcontractor or other person has notified the Company or any
subsidiary, either orally or in writing, that the Company or such subsidiary has breached or violated any applicable law, or any
material certification, representation, clause, provision or requirement pertaining to such Government Contract; and (v) no termination
for convenience, termination for default, cure notice or show cause notice is in effect as of the date hereof pertaining to any
Government Contract. Neither the Company nor any of its subsidiaries nor any of their respective directors, officers or employees
is (or during the last three (3) years has been) under administrative, civil or criminal investigation, or indictment or audit
by any governmental authority with respect to any alleged irregularity, misstatement or omission arising under or relating to any
Government Contract (other than routine Defense Contract Audit Agency audits, in which no such irregularities, misstatements or
omissions were identified). During the last three (3) years, neither the Company nor any of its subsidiaries has conducted or initiated
any internal investigation or made a voluntary disclosure to the United States government, with respect to any alleged irregularity,
misstatement or omission arising under or relating to any Government Contract. There are no outstanding claims against the Company
or any subsidiary, either by the United States government or by any prime contractor, subcontractor, vendor or other third party,
arising under or relating to any Government Contract. There are no disputes between the Company or any subsidiary and the United
States government under the Contract Disputes Act or any other statute or between the Company or any subsidiary and any prime contractor,
subcontractor or vendor arising under or relating to any Government Contract. Neither the Company nor any subsidiary nor, to the
Company&rsquo;s knowledge, any of its or the subsidiary&rsquo;s directors, officers or employees is (or during the last three (3)
years has been) suspended or debarred from doing business with the United States government or is (or during such period was) the
subject of a finding of non-responsibility or ineligibility for United States government contracting. There is no suit or investigation
pending and, to the Company&rsquo;s knowledge, no suit or investigation threatened against the Company or any subsidiary with respect
to any Government Contract.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(xx)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
to each product subject to the jurisdiction of the U.S. Food and Drug Administration (&ldquo;<B>FDA</B>&rdquo;) or any non-U.S.
counterpart that is manufactured, packaged, labeled, tested, distributed, sold, and/or marketed by the Company or any of its subsidiaries
(each such product, a &ldquo;<B>Product</B>&rdquo;), such Product is being manufactured, packaged, labeled, tested, distributed,
sold and/or marketed by the Company or its subsidiaries in compliance with all applicable Health Care Laws relating to registration,
investigational use, premarket clearance, licensure, or application approval, good manufacturing practices, good laboratory practices,
good clinical practices, product listing, quotas, labeling, advertising, record keeping and filing of reports, except where the
failure to be in compliance would not have a Material Adverse Effect. There is no pending, completed or, to the Company&rsquo;s
knowledge, threatened, action (including any lawsuit, arbitration, or legal or administrative or regulatory proceeding, charge,
complaint, or investigation) against the Company or any of its subsidiaries, and none of the Company or any of its subsidiaries
has received any notice, warning letter or other communication from the FDA or any other governmental entity, which (i) contests
the premarket clearance, licensure, registration, or approval of, the uses of, the distribution of, the manufacturing or packaging
of, the testing of, the sale of, or the labeling and promotion of any Product, (ii) withdraws its approval of, requests the recall,
suspension, or seizure of, or withdraws or orders the withdrawal of advertising or sales promotional materials relating to, any
Product, (iii) imposes a clinical hold on any clinical investigation by the Company or any of its subsidiaries, (iv) enjoins production
at any facility of the Company or any of its subsidiaries, (v) enters or proposes to enter into a consent decree of permanent injunction
with the Company or any of its subsidiaries, or (vi) otherwise alleges any violation of any laws, rules or regulations by the Company
or any of its subsidiaries, and which, either individually or in the aggregate, would have a Material Adverse Effect. The properties,
business and operations of the Company have been and are being conducted in all material respects in accordance with all applicable
Health Care Laws. The Company has not been informed by the FDA or any non-U.S. counterpart that the FDA or any non-U.S. counterpart
will prohibit the marketing, sale, license or use in the United States or in any other territory any product proposed to be developed,
produced or marketed by the Company or any subsidiary nor has the FDA or any non-U.S. counterpart expressed any concern as to approving
or clearing for marketing any product being developed or proposed to be developed by the Company or any subsidiary. For purposes
of this Agreement, &ldquo;<B>Health Care Laws</B>&rdquo; means: (i) the Federal Food, Drug, and Cosmetic Act and the regulations
promulgated thereunder; (ii) all applicable federal, state, local and all applicable foreign health care related fraud and abuse
laws, including, without limitation, the U.S. Anti-Kickback Statute (42 U.S.C. Section 1320a-7b(b)), the U.S. Physician Payment
Sunshine Act (42 U.S.C. &sect; 1320a-7h), the U.S. Civil False Claims Act (31 U.S.C. Section 3729 et seq.), the criminal False
Claims Law (42 U.S.C. &sect; 1320a-7b(a)), all criminal laws relating to health care fraud and abuse, including but not limited
to 18 U.S.C. Sections 286 and 287, and the health care fraud criminal provisions under the U.S. Health Insurance Portability and
Accountability Act of 1996 (&ldquo;<B>HIPAA</B>&rdquo;) (42 U.S.C. Section 1320d et seq.), the exclusion laws (42 U.S.C. &sect;
1320a-7), the civil monetary penalties law (42 U.S.C. &sect; 1320a-7a), the statutes, regulations and directives of applicable
government funded or sponsored healthcare programs, and the regulations promulgated pursuant to such statutes; (iii) the Standards
for Privacy of Individually Identifiable Health Information (the &ldquo;<B>Privacy Rule</B>&rdquo;), the Security Standards, and
the Standards for Electronic Transactions and Code Sets promulgated under HIPAA, the Health Information Technology for Economic
and Clinical Health Act (42 U.S.C. Section 17921 et seq.), and the regulations promulgated thereunder and any state or non-U.S.
counterpart thereof or other law or regulation the purpose of which is to protect the privacy of individuals or prescribers; (iv)
Medicare (Title XVIII of the Social Security Act); (v) Medicaid (Title XIX of the Social Security Act); and (vi) any and all other
applicable health care laws and regulations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(yy)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company and its subsidiaries have taken all necessary actions to ensure that they are in compliance in all material respects with
all provisions of the Controlled Substances Act of 1970 and all rules and regulations promulgated thereunder or implementing the
provisions thereof that are then in effect and with which the Company is required to comply. The Company and its subsidiaries have
taken all necessary actions to ensure that they are in compliance in all material respects with the provisions of any applicable
state laws, rules and regulations governing the handling and use of controlled substances, including cannabis.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(zz)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is in compliance with the Sarbanes-Oxley Act of 2002 and all rules and regulations promulgated thereunder or implementing
the provisions thereof (the &ldquo;<B>Sarbanes-Oxley Act</B>&rdquo;) that are then in effect and with which the Company is required
to comply. The Company has not, directly or indirectly, including through any subsidiary, extended credit, arranged to extend credit,
or renewed any extension of credit, in the form of a personal loan, to or for any executive officer of the Company or any of its
subsidiaries, or to or for any family member or affiliate of any director or executive officer of the Company or any of its subsidiaries.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(aaa)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
operations of the Company and its subsidiaries are and have been conducted at all times in compliance with applicable financial
recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money
laundering statutes of all jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or
guidelines, issued, administered or enforced by any governmental agency (collectively, the &ldquo;<B>Money Laundering Laws</B>&rdquo;)
and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving
the Company and its subsidiaries with respect to the Money Laundering Laws is pending, or to the knowledge of the Company, threatened.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(bbb)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the Company nor any of its subsidiaries, nor, to the knowledge of the Company, any director, officer, agent, employee or affiliate
of the Company or its subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control
of the U.S. Treasury Department (&ldquo;<B>OFAC</B>&rdquo;); and the Company will not directly or indirectly use the proceeds of
the Offering, or lend, contribute or otherwise make available such proceeds to its subsidiaries or any joint venture partner or
other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered
by OFAC.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ccc)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the Company nor any of its directors or officers or, to the best knowledge of the Company, any agent, employee, affiliate or other
person acting on behalf of the Company has engaged in any activities sanctionable under the Comprehensive Iran Sanctions, Accountability,
and Divestment Act of 2010, the Iran Sanctions Act of 1996, the National Defense Authorization Act for Fiscal Year 2012, the Iran
Threat Reduction and Syria Human Rights Act of 2012 or any Executive Order relating to any of the foregoing (collectively, and
as each may be amended from time to time, the &ldquo;<B>Iran Sanctions</B>&rdquo;); and the Company will not directly or indirectly
use the proceeds of the Offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture
partner or other person or entity, for the purpose of engaging in any activities sanctionable under the Iran Sanctions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ddd)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as described in the Registration Statement, the General Disclosure Package and the Prospectus, the Company has not sold or issued
any shares of Common Stock during the six-month period preceding the date of the Prospectus, including any sales pursuant to Rule
144A under, or Regulations D or S of, the Securities Act, other than shares issued pursuant to employee benefit plans, qualified
stock options plans or other employee compensation plans or pursuant to outstanding options, rights or warrants. Neither the Company
nor any of its affiliates (as such term is defined under Rule 144 of the Securities Act) has, prior to the date hereof, made any
offer or sales of any securities which are required to be &ldquo;integrated&rdquo; pursuant to the Securities Act or the Rules
with the offer and sale of the Securities pursuant to the Registration Statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(eee)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company fulfilled its obligations, if any, under the minimum funding standards of Section 302 of the U.S. Employee Retirement Income
Security Act of 1974 (&ldquo;<B>ERISA</B>&rdquo;) and the regulations and published interpretations thereunder with respect to
each &ldquo;plan&rdquo; as defined in Section 3(3) of ERISA and such regulations and published interpretations in which its employees
are eligible to participate and each such plan is in compliance in all material respects with the presently applicable provisions
of ERISA and such regulations and published interpretations. No &ldquo;Reportable Event&rdquo; (as defined in 12 ERISA) has occurred
with respect to any &ldquo;Pension Plan&rdquo; (as defined in ERISA) for which the Company could have any liability. The execution
of this Agreement and the Warrants and consummation of the Offering does not constitute a triggering event under any plan or any
other employment contract, whether or not legally enforceable, which (either alone or upon the occurrence of any additional or
subsequent event) will or may result in any payment (of severance pay or otherwise), acceleration, increase in vesting, or increase
in benefits to any current or former participant, employee or director of the Company or any of its subsidiaries.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(fff)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
statements in the Registration Statement, the General Disclosure Package and the Prospectus under the headings &ldquo;Our Company,&rdquo;
&ldquo;Risk Factors,&rdquo; &ldquo;Underwriting,&rdquo; &ldquo;Descriptions of the Securities We May Offer,&rdquo; and &ldquo;Plan
of Distribution,&rdquo; insofar as such statements summarize legal matters, agreements, documents or proceedings discussed therein,
are accurate and fair summaries of such legal matters, agreements, documents or proceedings in all material respects.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ggg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
information contained in the questionnaires completed by each of the Company&rsquo;s officers and directors and provided to the
Underwriter as well as the biographies of such individuals in the Registration Statement is true and correct in all material respects
and the Company has not become aware of any information that would cause the information disclosed in the questionnaires completed
by the directors and officers to become inaccurate and incorrect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(hhh)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company and its subsidiaries own or lease all such properties as are necessary to the conduct of its business as presently operated
and as proposed to be operated as described in the Registration Statement, the General Disclosure Package and the Prospectus. The
Company and its subsidiaries have good and marketable title to all personal property owned by them, free and clear of all liens
except such as are described in the Registration Statement, the General Disclosure Package and the Prospectus or such as do not
(individually or in the aggregate) materially affect the business or prospects of the Company or its subsidiaries. Any real property
and buildings held under lease or sublease by the Company and its subsidiaries are held by them under valid, subsisting and enforceable
leases with such exceptions as are not material to, and do not interfere with, the use made and proposed to be made of such property
and buildings by the Company and its subsidiaries. Neither the Company nor any of its subsidiaries has received any notice of any
claim adverse to its ownership of any real or personal property or of any claim against the continued possession of any real property,
whether owned or held under lease or sublease by the Company or its subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, there is no judicial, regulatory,
arbitral or other legal or governmental proceeding or other litigation or arbitration, domestic or foreign, pending to which the
Company or any of its subsidiaries is a party or of which any property, operations or assets of the Company or any of its subsidiaries
is the subject. To the Company&rsquo;s knowledge, no such proceeding, litigation or arbitration is threatened or contemplated.
The Company has established reasonable reserves for all litigation to the extent required by GAAP. The Company considers any such
reserves to be adequate to cover all reasonably anticipated liabilities with respect to any outstanding litigation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.3pt">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Conditions
of the Underwriter&rsquo;s Obligations</B>. The obligation of the Underwriter to purchase the Securities is subject to each of
the following terms and conditions:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Registration Statement has become effective and at the Closing Date no stop order suspending the effectiveness of the Registration
Statement shall be in effect and no proceedings for such purpose shall be pending before or threatened by the Commission, and any
requests for additional information on the part of the Commission (to be included in the Registration Statement or the Prospectus
or otherwise) shall have been complied with to the satisfaction of the Commission and the Underwriter. A prospectus containing
Rule 430B Information shall have been filed with the Commission in the manner and within the period required by Rule 424(b) (without
reliance on Rule 424(b)(8)) or a post-effective amendment providing such information shall have been promptly filed and declared
effective in accordance with the requirements of Rule 430B. Any material required to be filed by the Company pursuant to Rule 433(d)
of the Rules shall have been timely filed with the Commission in accordance with such rule.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
representations and warranties of the Company contained in this Agreement and in the certificates delivered pursuant to <U>Section
3(d)</U> shall be true and correct when made and on and as of each Closing Date as if made on such date. The Company shall have
performed in all material respects all covenants and agreements and satisfied all the conditions contained in this Agreement required
to be performed or satisfied by it at or before such Closing Date.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Underwriter shall have reasonably determined, and advised the Company, that the Registration Statement or the Prospectus, or any
amendment thereof or supplement thereto contains an untrue statement of fact which, in the Underwriter&rsquo;s reasonable opinion,
is material, or omits to state a fact which, in the Underwriter&rsquo;s reasonable opinion, is material and is required to be stated
therein or necessary to make the statements therein not misleading.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Underwriter shall have received on each Closing Date a certificate, addressed to the Underwriter and dated such Closing Date, of
the chief executive officer and chief financial officer of the Company to the effect that: (i) the representations, warranties
and agreements of the Company in this Agreement were true and correct when made and are true and correct as of such Closing Date;
(ii) the Company has performed in all material respects all covenants and agreements and satisfied all conditions contained herein;
(iii) they have carefully examined the Registration Statement, the Prospectus, the General Disclosure Package, and any individual
Issuer-Represented Free Writing Prospectus and, in their opinion (A) as of each Closing Date, neither (i) the General Disclosure
Package, nor (ii) any individual Issuer-Represented Free Writing Prospectus, when considered together with the General Disclosure
Package, included, any untrue statement of a material fact and did not omit to state a material fact required to be stated therein
or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, and (B)
since the Effective Date no event has occurred which should have been set forth in a supplement or otherwise required an amendment
to the Registration Statement, the General Disclosure Package or the Prospectus; (iv) no stop order suspending the effectiveness
of the Registration Statement has been issued and, to their knowledge, no proceedings for that purpose have been instituted or
are pending under the Securities Act; and (v) there has not occurred any Material Adverse Effect or any event that is likely to
result in a Material Adverse Effect, whether or not arising from transactions in the ordinary course of business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Underwriter shall have received: (i) simultaneously with the execution of this Agreement a signed letter from the Auditor addressed
to the Underwriter and dated the date of this Agreement, in form and substance reasonably satisfactory to the Underwriter, containing
statements and information of the type ordinarily included in accountants&rsquo; &ldquo;comfort letters&rdquo; to underwriters
with respect to the financial statements and certain financial information contained in the Registration Statement and the General
Disclosure Package, and (ii) on each Closing Date, a signed letter from the Auditor addressed to the Underwriter and dated the
date of such Closing Date(s), in form and substance reasonably satisfactory to the Underwriter containing statements and information
of the type ordinarily included in accountants&rsquo; &ldquo;comfort letters&rdquo; to underwriters with respect to the financial
statements and certain financial information contained in the Registration Statement and the Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
each Closing Date, the Underwriter shall have received the favorable opinion, dated as of such Closing Date, of outside counsel
to the Company, in form and substance reasonably satisfactory to counsel for the Underwriter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
each Closing Date, the Underwriter shall have received the favorable intellectual property legal opinion, dated as of such Closing
Date, from intellectual property legal counsel to the Company, in form and substance reasonably satisfactory to counsel for the
Underwriter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
each Closing Date, the Underwriter shall have received the favorable legal opinion, dated as of such Closing Date, from British
Virgin Island counsel to the Company, in form and substance reasonably satisfactory to counsel for the Underwriter.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
each Closing Date, there shall have been furnished to the Underwriter the negative assurance letter of Harter Secrest &amp; Emery
LLP, counsel to the Underwriter, dated such Closing Date, as applicable, and addressed to the Underwriter, in form and substance
reasonably satisfactory to the Underwriter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
proceedings taken in connection with the sale of Securities and the Option Securities as herein contemplated shall be reasonably
satisfactory in form and substance to the Underwriter and its counsel.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Underwriter shall have received copies of the Lock-up Agreements in form and substance reasonably satisfactory to counsel for the
Underwriter executed by each entity or person listed on <B><U>Schedule II</U></B> hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall have taken no action designed to, or likely to have the effect of terminating the registration of the Common Stock
and Warrants under the Exchange Act or delisting or suspending from trading the Common Stock from Nasdaq, nor has the Company received
any information suggesting that the Commission or Nasdaq is contemplating terminating such registration or listing. The Securities,
the Warrants and shares of Common Stock underlying the Warrants shall be DTC eligible.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subsequent
to the execution and delivery of this Agreement or, if earlier, the dates as of which information is given in the Registration
Statement, the General Disclosure Package or the Prospectus: (i) there shall not have been any material change in the capital stock
of the Company or any material change in the indebtedness (other than in the ordinary course of business) of the Company or its
subsidiaries, (ii) except as set forth or contemplated by the Registration Statement, the General Disclosure Package or the Prospectus,
no material oral or written agreement or other transaction shall have been entered into by the Company that is not in the ordinary
course of business or that could reasonably be expected to result in a material reduction in the future earnings of the Company,
(iii) no loss or damage (whether or not insured) to the property of the Company shall have been sustained that had or could reasonably
be expected to have a Material Adverse Effect, (iv) no legal or governmental action, suit or proceeding affecting the Company or
any of its properties that is material to the Company or that affects or could reasonably be expected to affect the transactions
contemplated by this Agreement shall have been instituted or threatened and (v) there shall not have been any material change in
the assets, properties, condition (financial or otherwise), or in the results of operations, business affairs or business prospects
of the Company or its subsidiaries considered as a whole that makes it impractical or inadvisable in the Underwriter&rsquo;s judgment
to proceed with the purchase or offering of Securities as contemplated hereby.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
Securities Closing Date, FINRA shall have confirmed that it has not raised any objection with respect to the fairness and reasonableness
of the underwriting terms and agreements in connection with the Offering.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall have furnished or caused to be furnished to the Underwriter such further customary certificates or documents as the
Underwriter shall have reasonably requested.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If any of the conditions
specified in this <U>Section 3</U> shall not have been fulfilled when and as required by this Agreement, the obligation of the
Underwriter to consummate the Closing hereunder may be cancelled by the Underwriter after notice of such cancellation shall have
be given to the Company in writing and the Company shall have been given a reasonable period of time to satisfy such condition
(if such condition is capable of being satisfied).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.3pt">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Covenants
and Other Agreements of the Company</B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company covenants and agrees as follows:</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall comply with the requirement of Rule 430B, as applicable, and shall promptly advise the Underwriter in writing (A)
when any post-effective amendment to the Registration Statement shall have become effective or any supplement to the Prospectus
shall have been filed, (B) of any request by the Commission for any amendment of the Registration Statement or the Prospectus or
for any additional information, (C) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration
Statement or of any order preventing or suspending the use of any preliminary prospectus or any &ldquo;free writing prospectus&rdquo;,
as defined in Rule 405 of the Rules, or the institution or threatening of any proceeding for that purpose and (D) of the receipt
by the Company of any notification with respect to the suspension of the qualification of the Securities for sale in any jurisdiction
or the initiation or threatening of any proceeding for such purpose. The Company will promptly effect the filings necessary pursuant
to Rule 424(b) in the manner and within the time period required by Rule 424(b) (without reliance on Rule 424(b)(8)) and will take
steps as it deems necessary to ascertain promptly whether the form of prospectus transmitted for filing under Rule 424(b) was received
for filing by the Commission and, in the event that it was not, it will promptly file such prospectus. The Company shall not file
any amendment of the Registration Statement or supplement to the Prospectus or any Issuer-Represented Free Writing Prospectus unless
the Company has furnished the Underwriter a copy for its review prior to filing and shall not file any such proposed amendment
or supplement to which the Underwriter reasonably objects. The Company shall use its best efforts to prevent the issuance of any
such stop order and, if issued, to obtain as soon as possible the withdrawal thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If,
at any time when a prospectus relating to Securities (or, in lieu thereof, the notice referred to in Rule 173(a) of the Rules)
is required to be delivered under the Securities Act, any event occurs as a result of which the Prospectus as then amended or supplemented
would include any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein
in the light of the circumstances under which they were made not misleading, or if it shall be necessary to amend or supplement
the Prospectus to comply with the Securities Act or the Rules, the Company promptly shall prepare and file with the Commission,
subject to the third sentence of Paragraph (i) of this <U>Section 4(a)</U>, an amendment or supplement which shall correct such
statement or omission or an amendment which shall effect such compliance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
at any time following issuance of an Issuer-Represented Free Writing Prospectus there occurs an event or development as a result
of which such Issuer-Represented Free Writing Prospectus would conflict with the information contained in the Registration Statement
or would include an untrue statement of a material fact or would omit to state a material fact required to be stated therein or
necessary in order to make the statements therein, in the light of the circumstances prevailing at the subsequent time, not misleading,
the Company will promptly notify the Underwriter and will promptly amend or supplement, at its own expense, such Issuer-Represented
Free Writing Prospectus to eliminate or correct such conflict, untrue statement or omission.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will timely file such reports pursuant to the Exchange Act as are necessary in order to make generally available to securityholders
as soon as practicable an earnings statement for the purposes of, and to provide the benefits contemplated by, the last paragraph
of Section 11(a) of the Securities Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall furnish to the Underwriter and counsel for the Underwriter, without charge, signed copies of the Registration Statement
(including all exhibits thereto and amendments thereof) and to each other Underwriter a copy of the Registration Statement (without
exhibits thereto) and all amendments thereof and, so long as delivery of a prospectus by an Underwriter or dealer may be required
by the Securities Act or the Rules, as many copies of any Preliminary Prospectus, any Issuer-Represented Free Writing Prospectus
and the Prospectus and any amendments thereof and supplements thereto as the Underwriter may reasonably request. If applicable,
the copies of the Registration Statement, Preliminary Prospectus, any Issuer-Represented Free Writing Prospectus and Prospectus
and each amendment and supplement thereto furnished to the Underwriter will be identical to the electronically transmitted copies
thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T.</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall cooperate with the Underwriter and its counsel in endeavoring to qualify Securities for offer and sale in connection
with the Offering under the laws of such jurisdictions as the Underwriter may designate and shall maintain such qualifications
in effect so long as required for the distribution of the Securities; provided, however, that the Company shall not be required
in connection therewith, as a condition thereof, to qualify as a foreign corporation or to execute a general consent to service
of process in any jurisdiction or subject itself to taxation as doing business in any jurisdiction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company, during the period when the Prospectus (or in lieu thereof, the notice referred to in Rule 173(a) of the Rules) is required
to be delivered under the Securities Act and the Rules or the Exchange Act, will file all reports and other documents required
to be filed with the Commission pursuant to Section 13, 14 or 15 of the Exchange Act within the time periods required by the Exchange
Act and the regulations promulgated thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall, during the term of the Lock-Up Agreements, enforce the terms thereof and impose stop-transfer restrictions on any
sale or other transfer or disposition of Company securities until the end of the term of the Lock-Up Agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
or before completion of this Offering, the Company shall make all filings required under applicable securities laws and by Nasdaq
(including any required registration under the Exchange Act).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will issue no press release or other communications directly or indirectly and hold no press conference with respect to
the Company, its condition, financial or otherwise, or its earnings, business affairs or business prospects, or the Offering for
a period of time ending on the first business day following the forty-fifth (45) day following the Closing Date, without the prior
written consent of the Underwriter other than normal and customary releases issued in the ordinary course of the Company&rsquo;s
business or as required by law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(xi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will apply the net proceeds from the Offering in the manner set forth under &ldquo;Use of Proceeds&rdquo; in the Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(xii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will use its best efforts to effect and maintain the listing of the Securities (including the Common Stock into which the
Warrants may be converted) on Nasdaq for at least three years after the Closing Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(xiii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
with respect to (x) the issuance of securities pursuant to the exercise or conversion of outstanding options or warrants or other
rights to receive securities of the Company that exist as of the Closing Date; or (y) the issuance of securities pursuant to the
Company&rsquo;s 2005 Incentive Stock Plan, as amended and restated as of January 21, 2015, during the 90 days following the Closing
Date, the Company will not undertake any public or private offerings of any equity securities of the Company without the prior
written consent of the Underwriter, which consent will not be unreasonably withheld.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(xiv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will not take, and will cause its affiliates (as such term is defined by Rule 144 of the Act) not to take, directly or
indirectly, any action which constitutes or is designed to cause or result in, or which could reasonably be expected to constitute,
cause or result in, the stabilization or manipulation of the prices of any security to facilitate the sale or resale of the Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(xv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
so long as they are legally required to do so, the Company will use its best efforts to comply in all material respects with all
applicable provisions of the Sarbanes-Oxley Act that are in effect.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company agrees to pay, or reimburse if paid by the Underwriter, whether or not the transactions contemplated hereby are consummated
or this Agreement is terminated, all reasonable travel and other out-of-pocket expenses, including the reasonable fees of the Underwriter&rsquo;s
legal counsel, Harter Secrest &amp; Emery LLP, not to exceed $75,000.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company acknowledges and agrees that the Underwriter has acted and is acting solely in the capacity of a principal in an arm&rsquo;s
length transaction between the Company and the Underwriter with respect to the offering of Securities contemplated hereby (including
in connection with determining the terms of the Offering) and not as a financial advisor, agent or fiduciary to the Company or
any other person. Additionally, the Company acknowledges and agrees that the Underwriter has not and will not advise the Company
or any other person as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction. The Company has consulted
with its own advisors concerning such matters and shall be responsible for making its own independent investigation and appraisal
of the transactions contemplated hereby, and the Underwriter shall have no responsibility or liability to the Company or any other
person with respect thereto, whether arising prior to or after the date hereof. Any review by the Underwriter of the Company, the
transactions contemplated hereby or other matters relating to such transactions has been and will be performed solely for the benefit
of the Underwriter and shall not be on behalf of the Company. The Company agrees that it will not claim that the Underwriter has
rendered advisory services of any nature or respect, or owes a fiduciary duty to the Company or any other person in connection
with any such transaction or the process leading thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company represents and agrees that, unless it obtains the prior consent of the Underwriter, and the Underwriter represents and
agrees that, unless it obtains the prior consent of the Company, it has not made and will not make any offer relating to Securities
that would constitute an &ldquo;issuer free writing prospectus,&rdquo; as defined in Rule 433, or that would otherwise constitute
a &ldquo;free writing prospectus,&rdquo; as defined in Rule 405, required to be filed with the Commission. The Company has complied
and will comply with the requirements of Rule 433 under the Act applicable to any Issuer-Represented Free Writing Prospectus, including
timely filing with the Commission where required, legending and record keeping.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From
the date hereof and until the 60th day after the last Closing Date, the Company shall not issue, enter into any agreement to issue
or announce the issuance or proposed issuance of any shares of Common Stock, including, without limitation, any debt, preferred
stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise
entitles the holder thereof to receive, Common Stock, except for any Exempt Issuance. For the purposes of this section, &ldquo;<B>Exempt
Issuance</B>&rdquo; means the issuance of (i) Common Stock, options or other equity awards to employees, officers, consultants,
members of its strategic advisory board, or directors of the Company pursuant to any stock or option plan or employee stock purchase
plan duly adopted for such purpose (provided that issuances to consultants and members of its strategic advisory board shall be
unregistered and carry no registration rights and shall not exceed an aggregate of 150,000 shares (subject to adjustment for any
stock splits or recapitalizations following date hereof) in any three-month period), by a majority of the non-employee members
of the Board of Directors or a majority of the members of a committee of non-employee directors established for such purpose for
services rendered to the Company and (ii) securities upon the exercise or exchange of or conversion of any Securities issued pursuant
to this Agreement and/or other securities exercisable or exchangeable for or convertible into shares of Common Stock issued and
outstanding on the date of this Agreement; provided that such securities have not been amended since the date of this Agreement
to increase the number of such securities or to decrease the exercise price, exchange price or conversion price of such securities
(other than in connection with its terms or stock splits or combinations) or to extend the term of such securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.3pt">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.3pt">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Indemnification</B>.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent permitted by law, the Company agrees to indemnify, defend and hold harmless the Underwriter, its affiliates, directors
and officers and employees, and each person, if any, who controls such Underwriter within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act, from and against any losses, claims, damages or liabilities to which the Underwriter or
such person may become subject, under the Securities Act or otherwise (including in settlement of any litigation if such settlement
is effected with the written consent of the Company), insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) are related to, arise out of or are based upon: (i) an untrue statement or alleged untrue statement of a material fact
contained in the Registration Statement, including the information deemed to be a part of the Registration Statement at the time
of effectiveness and at any subsequent time pursuant to Rules 430A and 430B of the Rules, or arise out of or are based upon the
omission from the Registration Statement, or alleged omission to state therein, a material fact required to be stated therein or
necessary to make the statements therein not misleading, (ii) an untrue statement or alleged untrue statement of a material fact
contained in the General Disclosure Package, the Prospectus, or any amendment or supplement thereto (including any documents filed
under the Exchange Act and deemed to be incorporated by reference into the Registration Statement or the Prospectus), any Issuer-Represented
Free Writing Prospectus or in any other materials used in connection with the Offering, or arise out of or are based upon the omission
or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading, (iii) in whole or in part, any inaccuracy in the representations
and warranties of the Company contained herein, or (iv) in whole or in part, any failure of the Company to perform its obligations
hereunder or under applicable law, and will reimburse the Underwriter for its reasonable legal or other out of pocket expenses
reasonably incurred by it in connection with evaluating, investigating or defending against such loss, claim, damage, liability
or action; provided, however, that (y) the Company will only be obligated to reimburse the Underwriter for the cost and expense
of one counsel (in addition to any local counsel) and provided further that the Company will not be liable in any such case to
the extent that any such loss, claim, damage, liability or action arises out of or is based upon an untrue statement or alleged
untrue statement or omission or alleged omission made in the Registration Statement, the General Disclosure Package, the Prospectus,
or any amendment or supplement thereto or any Issuer-Represented Free Writing Prospectus, in reliance upon and in conformity with
the Underwriter Information; and (z) with respect to any untrue statement or omission or alleged untrue statement or omission made
in the Preliminary Prospectus, if any, the indemnity agreement contained in this <U>Section 5(a)</U> shall not inure to the benefit
of an Underwriter to the extent that any losses, claims, damages or liabilities of such Underwriter results from the fact that
a copy of the Preliminary Prospectus was not given or sent to the person asserting any such loss, claims, damage or liability at
or prior to the written confirmation of sale of Securities to such person as required by the Securities Act and the rules and regulations
thereunder, and if the untrue statement or omission has been corrected in the Prospectus, unless such failure to deliver the Prospectus
was a result of non-compliance by the Company with its obligations under this Agreement. This indemnity agreement will be in addition
to any liability which the Company may otherwise have.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Underwriter agrees to indemnify and hold harmless (i) the Company, and each person, if any, who controls the Company within the
meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act and (ii) each director of the Company, and each officer
of the Company who signs the Registration Statement, against any losses, claims, damages or liabilities to which such party may
become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in any preliminary
prospectus, the Registration Statement or the Prospectus, or any amendment or supplement thereto, or arise out of or are based
upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements
therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement
or omission or alleged omission was made in any Preliminary Prospectus, the Registration Statement, the General Disclosure Package
or the Prospectus or any such amendment or supplement in reliance upon and in conformity with the Underwriter Information and will
reimburse the Company for any legal or other expenses reasonably incurred by the Company in connection with evaluating, investigating
or defending any such action or claim as such expenses are incurred; provided, however, that the obligation of each Underwriter
to indemnify the Company (including any controlling person, director or officer thereof) shall be limited to the amount of the
underwriting discount and commissions applicable to Securities to be purchased by such Underwriter hereunder.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
party that proposes to assert the right to be indemnified under this section will, promptly after receipt of notice of commencement
of any action, suit or proceeding against such party in respect of which a claim is to be made against an indemnifying party or
parties under this section, notify each such indemnifying party of the commencement of such action, suit or proceeding, enclosing
a copy of all papers served. No indemnification provided for in <U>Section 5(a)</U> or <U>Section 5(b)</U> shall be available to
any party who shall fail to give notice as provided in this <U>Section 5(c)</U> if the party to whom notice was not given was unaware
of the proceeding to which such notice would have related and was prejudiced by the failure to give such notice but the omission
so to notify such indemnifying party of any such action, suit or proceeding shall not relieve it from any liability that it may
have to any indemnified party for contribution or otherwise than under this section. In case any such action, suit or proceeding
shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying
party shall be entitled to participate in, and, to the extent that it shall wish, jointly with any other indemnifying party similarly
notified, to assume the defense thereof, with one firm of legal counsel reasonably satisfactory to such indemnified party, and
after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof and the approval
by the indemnified party of such counsel, the indemnifying party shall not be liable to such indemnified party for any legal or
other expenses, except as provided below and except for the reasonable costs of investigation subsequently incurred by such indemnified
party in connection with the defense thereof. The indemnified party shall have the right to employ its counsel in any such action,
but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i) the employment of counsel
by such indemnified party has been authorized in writing by the indemnifying parties, (ii) the indemnified party shall have been
advised by counsel that there may be one or more legal defenses available to it which are different from or in addition to those
available to the indemnifying party (in which case the indemnifying parties shall not have the right to direct the defense of such
action on behalf of the indemnified party) or (iii) the indemnifying parties shall not have employed counsel to assume the defense
of such action within a reasonable time after notice of the commencement thereof, in each of which cases the fees and expenses
of counsel shall be at the expense of the indemnifying parties. An indemnifying party shall not be liable for any settlement of
any action, suit, and proceeding or claim effected without its written consent, which consent shall not be unreasonably withheld
or delayed. No indemnifying party shall, without the written consent of the indemnified party, effect the settlement or compromise
of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification
or contribution may be sought hereunder (whether or not the indemnified party is an actual or potential party to such action or
claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the indemnified party from all liability
arising out of such action or claim and (ii) does not include a statement as to or an admission of fault, culpability or a failure
to act, by or on behalf of any indemnified party.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.3pt">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Contribution</B>.
In order to provide for just and equitable contribution in circumstances in which the indemnification provided for in <U>Section
5</U> is due in accordance with its terms but for any reason is unavailable or insufficient to hold harmless an indemnified party
in respect to any losses, liabilities, claims, damages or expenses referred to therein, then each indemnifying party shall contribute
to the aggregate losses, liabilities, claims, damages and expenses (including any investigation, legal and other expenses reasonably
incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding or any claims asserted, but after
deducting any contribution received by any person entitled hereunder to contribution from any person who may be liable for contribution)
incurred by such indemnified party, as incurred, in such proportion as is appropriate to reflect the relative benefits received
by the Company, on the one hand, and the Underwriter, on the other hand, from the Offering pursuant to this Agreement or, if such
allocation is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred
to above but also the relative fault of the Company, on the one hand, and the Underwriter, on the other hand, in connection with
the statements or omissions which resulted in such losses, liabilities, claims, damages or expenses, as well as any other relevant
equitable considerations. The Company and the Underwriter agree that it would not be just and equitable if contribution pursuant
to this <U>Section 6</U> were determined by pro rata allocation or by any other method of allocation which does not take account
of the equitable considerations referred to above. The aggregate amount of losses, liabilities, claims, damages and expenses incurred
by an indemnified party and referred to above shall be deemed to include any reasonable legal or other expenses reasonably incurred
by such indemnified party in investigating, preparing or defending against any litigation, or any investigation or proceeding by
any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue or alleged untrue
statement or omission or alleged omission. Notwithstanding the provisions of this <U>Section 6</U>, the Underwriter shall not be
required to contribute any amount in excess of the underwriting discounts and commissions applicable to Securities purchased by
the Underwriter. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall
be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this <U>Section
6</U>, each person, if any, who controls an Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of
the Exchange Act shall have the same rights to contribution as such Underwriter, and each director or partner of the Company, each
officer of the Company who signed the Registration Statement, and each person, if any, who controls the Company within the meaning
of the Section 15 of the Securities Act or Section 20 of the Exchange Act, shall have the same rights to contribution as the Company.
Any party entitled to contribution will, promptly after receipt of notice of commencement of any action, suit or proceeding against
such party in respect of which a claim for contribution may be made against another party or parties under this <U>Section 6</U>,
notify such party or parties from whom contribution may be sought, but the omission so to notify such party or parties from whom
contribution may be sought shall not relieve the party or parties from whom contribution may be sought from any other obligation
it or they may have hereunder or otherwise than under this <U>Section 6</U>. No party shall be liable for contribution with respect
to any action, suit, proceeding or claim settled without its written consent.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.3pt">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Termination</B>.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement may be terminated with respect to Securities to be purchased on a Closing Date by the Underwriter by notifying the Company
at any time at or before a Closing Date if: (i) any domestic or international event or act or occurrence has materially disrupted,
or in the reasonable opinion of the Underwriter will in the immediate future materially disrupt, the market for the Company&rsquo;s
securities or securities in general; (ii) there has occurred any outbreak or material escalation of hostilities or acts of terrorism
or other calamity or crisis the effect of which on the financial markets of the United States is such as to make it, in the reasonable
judgment of the Underwriter, inadvisable or impracticable to market Securities or enforce contracts for the sale of Securities;
(iii) trading in the any securities of the Company has been suspended or materially limited by the Commission or trading generally
on the New York Stock Exchange, the NYSE American or Nasdaq has been suspended or materially limited, or minimum or maximum ranges
for prices for securities shall have been fixed, or maximum ranges for prices for securities have been required, by any of said
exchanges or by such system or by order of the Commission, FINRA, or any other governmental or regulatory authority; (iv) a banking
moratorium has been declared by any state or Federal authority; or (v) in reasonable judgment of the Underwriter, there has been,
since the time of execution of this Agreement or since the respective dates as of which information is given in the Prospectus,
a Material Adverse Effect, whether or not arising in the ordinary course of business, such as to make it, in the reasonable judgment
of the Underwriter, inadvisable or impracticable to market the Securities or enforce contracts for the sale of the Securities.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
this Agreement is terminated pursuant to any of its provisions, the Company will not be under any liability to any Underwriter,
and the Underwriter shall not be under any liability to the Company, except that (y) the Company will reimburse the Underwriter
only for all actual, accountable out-of-pocket expenses (including the reasonable fees and disbursements of Harter Secrest &amp;
Emery LLP, its counsel) reasonably incurred by the Underwriter in connection with the proposed purchase and sale of the Securities
or in contemplation of performing its obligations hereunder subject to a cap of $75,000, and (z) if the Underwriter failed or refused
to purchase Securities agreed to be purchased by it under this Agreement, without some reason sufficient hereunder to justify cancellation
or termination of its obligations under this Agreement, shall not be relieved of liability to the Company for damages occasioned
by its failure or refusal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.3pt">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Miscellaneous</B>.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
respective agreements, representations, warranties, indemnities and other statements of the Company and the Underwriter, as set
forth in this Agreement or made by or on behalf of them pursuant to this Agreement, shall remain in full force and effect, regardless
of any investigation (or any statement as to the results thereof) made by or on behalf of the Underwriter or the Company, or any
of their respective officers, directors or controlling persons referred to in <U>Sections 5</U> and <U>6</U> hereof, and shall
survive delivery of and payment for Securities and the Common Stock underlying the Warrants. In addition, the provisions of <U>Sections
4(b)</U>, <U>5</U>, <U>6</U>, <U>7</U>, and <U>8(a)</U> shall survive the termination or cancellation of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement has been and is made for the benefit of the Underwriter, the Company, and their respective successors and assigns, and,
to the extent expressed herein, for the benefit of persons controlling the Underwriter, the Company, and directors and officers
of the Company, and their respective successors and assigns, and no other person shall acquire or have any right under or by virtue
of this Agreement. The term &ldquo;successors and assigns&rdquo; shall not include any purchaser of Securities from any Underwriter
merely because of such purchase.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
notices and communications hereunder shall be in writing and mailed or delivered or by email if subsequently confirmed in writing,
(a) if to the Underwriter, c/o Maxim Group LLC, 405 Lexington Avenue, New York, New York 10174, Attention: Equity Capital Markets,
with a copy to Maxim Group LLC, 405 Lexington Avenue, New York, New York 10174, Attention: General Counsel, and to Harter Secrest
&amp; Emery LLP, 1600 Bausch &amp; Lomb Place, Rochester, NY 14604, Attention: Alexander R. McClean, and (b) if to the Company,
to the Company&rsquo;s agent for service as such agent&rsquo;s address appears on the cover page of the Registration Statement
with a copy to Pepper Hamilton, 620 Eighth Avenue, 37<SUP>th</SUP> Floor, New York, New York 10018, Attention: Merrill M. Kraines.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>This
Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard for conflict
of laws principles</B>. Each of the parties hereto hereby submits to the non-exclusive jurisdiction of the Federal and state courts
in the Borough of Manhattan in The City of New York in any suit or proceeding arising out of or relating to this Agreement or the
transactions contemplated hereby. Each of the parties irrevocably and unconditionally waives any objection to the laying of venue
of any suit or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby in Federal and state
courts in the Borough of Manhattan in The City of New York and irrevocably and unconditionally waives and agrees not to plead or
claim in any such court that any such suit or proceeding in any such court has been brought in an inconvenient forum. The parties
agree, to the extent permitted by law, to waive their rights to a jury trial in any proceeding arising out of this Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any term or provision of this Agreement or the performance thereof will be invalid or unenforceable to any extent, such invalidity
or unenforceability shall not affect or render invalid or unenforceable any other provisions of this Agreement and this Agreement
will be valid and enforced to the fullest extent permitted by law.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
failure of any of the parties hereto to at any time enforce any of the provisions of this Agreement shall not be deemed or construed
to be a waiver of any such provision, nor to in any way effect the validity of this Agreement or any provision hereof or the right
of any of the parties hereto to thereafter enforce each and every provision of this Agreement. No waiver of any breach, non-compliance
or non-fulfillment of any of the provisions of this Agreement shall be effective unless set forth in a written instrument executed
by the party or parties against whom or which enforcement of such waiver is sought; and no waiver of any such breach, non-compliance
or non-fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach, non-compliance or non-fulfillment.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement constitutes the entire agreement of the parties to this Agreement and supersedes all prior or contemporaneous written
or oral agreements, understandings, promises and negotiations with respect to the subject matter hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
this Agreement, the masculine, feminine and neuter genders and the singular and the plural include one another. The section headings
in this Agreement are for the convenience of the parties only and will not affect the construction or interpretation of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement may be amended or modified, and the observance of any term of this Agreement may be waived, only by a writing signed
by the Company and the Underwriter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures
thereto and hereto were upon the same instrument. Such counterparts may be delivered by facsimile or by e-mail delivery of a &ldquo;pdf&rdquo;
format data file, which counterparts shall be valid as if original and which delivery shall be valid delivery thereof.</P>

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

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

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Please confirm that
the foregoing correctly sets forth the agreement among us.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD COLSPAN="2">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD COLSPAN="2">APPLIED DNA SCIENCES, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"></TD>
    <TD STYLE="width: 7%">By:</TD>
    <TD STYLE="width: 43%; border-bottom: Black 1pt solid">/s/ James A. Hayward</TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD>Name:</TD>
    <TD>James A. Hayward</TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD>Title:</TD>
    <TD>Chairman, President and Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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 COLSPAN="2">MAXIM GROUP LLC</TD>
    <TD></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">By:</TD>
    <TD STYLE="width: 43%; border-bottom: Black 1pt solid">/s/ Clifford Teller</TD>
    <TD STYLE="width: 50%"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name:</TD>
    <TD>Clifford Teller</TD>
    <TD></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD>Executive Managing Director of Investment Banking</TD>
    <TD></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><U>Schedule
I</U></B></FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">None.</P>

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


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

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

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

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD STYLE="text-align: justify">John Bitzer, III</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD STYLE="text-align: justify">Robert B. Catell</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">4.</TD><TD STYLE="text-align: justify">Joseph D. Ceccoli</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">5.</TD><TD STYLE="text-align: justify">Charles S. Ryan</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">6.</TD><TD STYLE="text-align: justify">Yacov A. Shamash</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">7.</TD><TD STYLE="text-align: justify">Elizabeth Schmalz Ferguson</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">8.</TD><TD STYLE="text-align: justify">Sanford R. Simon</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">9.</TD><TD STYLE="text-align: justify">Beth Jantzen</TD>
</TR></TABLE>

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

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


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    <!-- Field: /Page -->

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM OF LOCK-UP AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">December ____, 2018</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Maxim Group LLC<BR>
As Underwriter<BR>
405 Lexington Avenue<BR>
New York, NY 10174</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: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">Re:</TD><TD STYLE="text-align: justify">Offering of Securities of Applied DNA Sciences, Inc.</TD>
</TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned, as
a holder of common stock, par value $0.001 (&ldquo;<B>Common Stock</B>&rdquo;), or rights to acquire Common Stock, of Applied DNA
Sciences, Inc. (the &ldquo;<B>Company</B>&rdquo;), or in the undersigned&rsquo;s capacity as a director and/or officer of the Company,
understands that you, as the underwriter (the &ldquo;<B>Underwriter</B>&rdquo;), propose to enter into an Underwriting Agreement
(the &ldquo;<B>Underwriting Agreement</B>&rdquo;) with the Company, providing for the public offering (the &ldquo;<B>Offering</B>&rdquo;)
of registered shares of Common Stock and unregistered warrants to purchase Common Stock (the &ldquo;<B>Securities</B>&rdquo;).
Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Underwriting Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In consideration of
the Underwriter&rsquo;s agreement to enter into the Underwriting Agreement and to proceed with the Offering of the Securities,
and for other good and valuable consideration the receipt of which is hereby acknowledged, the undersigned hereby agrees for the
benefit of the Company and the Underwriter that, without the prior written consent of the Underwriter, the undersigned will not,
for a period commencing on the date hereof and ending 90 days from the date of the final prospectus filed with the Commission pursuant
to Rule 424(b) (the &ldquo;<B>Lock-Up Period</B>&rdquo;), directly or indirectly, unless otherwise provided herein, (a) offer,
sell, agree to offer or sell, solicit offers to purchase, grant any call option or purchase any put option with respect to, pledge,
borrow or otherwise dispose (each a &ldquo;<B>Transfer</B>&rdquo;) of any Relevant Security (as defined below), or (b) establish
or increase any &ldquo;put equivalent position&rdquo; or liquidate or decrease any &ldquo;call equivalent position&rdquo; with
respect to any Relevant Security (in each case within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended,
and the rules and regulations promulgated thereunder), or otherwise enter into any swap, derivative or other transaction or arrangement
that Transfers to another, in whole or in part, any economic consequence of ownership of a Relevant Security, whether or not such
transaction is to be settled by delivery of Relevant Securities, other securities, cash or other consideration. As used herein,
the term &ldquo;<B>Relevant Security</B>&rdquo; means any shares of Common Stock, warrant to purchase Common Stock or other security
of the Company or any other entity that is convertible into, or exercisable or exchangeable for Common Stock or equity securities
of the Company, in each case that are owned by the undersigned on the Closing Date or acquired by the undersigned during the Lock-Up
Period.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The restrictions in
the foregoing paragraph shall not apply to any exercise (including a cashless exercise) of options or warrants to purchase Common
Stock; <I>provided</I> that any Common Stock received upon such exercise, conversion or exchange will be subject to this Lock-Up
Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, the undersigned
hereby agrees that, without the Underwriter&rsquo;s prior consent, the undersigned will not, during the Lock-Up Period, make any
demand for or exercise any right with respect to, the registration of any shares of Common Stock of the Company or any securities
convertible into, exercisable for, or exchangeable for shares of Common Stock. The undersigned also agrees and consents to the
entry of stop transfer instructions with the Company&rsquo;s transfer agent and registrar relating to the transfer of the undersigned&rsquo;s
shares of Common Stock except in compliance with any restrictions contained herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If (x) during the last
17 days of the Lock-Up Period, the Company issues an earnings release or other press release of material information or a material
event relating to the Company occurs or (y) prior to the expiration of the Lock-Up Period, the Company announces that it will release
its earnings results during the 16-day period beginning on the last day of the Lock-Up Period, the Lock-Up Period shall be extended
by, and the restrictions imposed by this Lock-Up Agreement shall continue to apply until the expiration of, the 18-day period beginning
on the issuance of the earnings or other press release or the occurrence of the material event, provided, however, that such extension
of the Lock-Up Period shall not apply if, (i) at the expiration of the Lock-Up Period, the Securities are &ldquo;actively-traded
securities&rdquo; (as defined in Regulation M) and (ii) the Company meets the applicable requirements of paragraph (a)(1) of Rule
139 under the Securities Act of 1933, as amended, in the manner contemplated by FINRA Rule 2241(b)(2)(I)(iii). If the Lock-Up Period
is so extended, the undersigned shall not engage in any transaction that may be restricted by this Lock-Up Agreement during the
extended Lock-Up Period unless the undersigned requests and receives prior written confirmation from the Underwriter or the Company
that the restrictions imposed by this Lock-Up Agreement have expired.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned understands
that the Company and the Underwriter are relying on this Lock-Up Agreement in proceeding toward consummation of the Offering of
the Securities contemplated by the Underwriting Agreement. This Lock-Up Agreement is irrevocable and shall be binding upon the
undersigned and the heirs, personal representatives, successors and assigns of the undersigned.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[<I>Signature page follows</I>.]</P>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"></P>




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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">[Officer, Director or 5% or greater stockholder]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify">By:</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; white-space: nowrap">Name:</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Title:</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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

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


<!-- Field: Page; Sequence: 31 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

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

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><BR>
COMPANY DISCLOSURE SCHEDULE</P>

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

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

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

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

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

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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">APPLIED
DNA SCIENCES, INC.</P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Dated as of December 21, 2018<BR>
<BR>
</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the purposes of
the Company Disclosure Schedule, any information, item or other disclosure set forth in any section or subsection of the Company
Disclosure Schedule shall be deemed disclosed with respect to any other section or subsection to the extent that the relevance
of any such disclosure to any other section or subsection is reasonably apparent.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Section 2(s)</B></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has filed U.S. Provisional Patent Application 62/775,604
&ldquo;Amplicon Expression Vector Vaccines&rdquo; (the &ldquo;<B>Application</B>&rdquo;), on December 5, 2018 with the U.S. Patent
and Trademark Office. The Application is jointly owned by the Company&rsquo;s wholly owned subsidiary, LineaRx, Inc. (&ldquo;<B>LRx</B>&rdquo;),
Takis S.R.L. (&ldquo;<B>Takis</B>&rdquo;) and Evvivax S.R.L. (&ldquo;<B>Evvivax</B>&rdquo;) pursuant to a Joint Development Agreement
between LRx, Takis and Evvivax dated September 11, 2018.</P>



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

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


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<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>3
<FILENAME>tv509599_ex4-1.htm
<DESCRIPTION>EXHIBIT 4.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 4.1</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>APPLIED DNA SCIENCES, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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: 50%; font-size: 10pt">Warrant Shares: _______</TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right">Issuance Date: December ___, 2018</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS COMMON STOCK PURCHASE
WARRANT (the &ldquo;<U>Warrant</U>&rdquo;) certifies that, for value received, _____________ or its assigns (the &ldquo;<U>Holder</U>&rdquo;)
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on
or after the date hereof (the &ldquo;<U>Initial Exercise Date</U>&rdquo;) and on or prior to the close of business on the five
year anniversary of the Initial Exercise Date (the &ldquo;<U>Termination Date</U>&rdquo;; provided, however that if such date is
not a Trading Day, the Termination Date shall be the immediately following Trading Day) but not thereafter, to subscribe for and
purchase from Applied DNA Sciences, Inc., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), up to _____ shares of Common
Stock, par value $0.001 per share (the &ldquo;<U>Common Stock</U>&rdquo;) (as subject to adjustment hereunder, the &ldquo;<U>Warrant
Shares</U>&rdquo;). The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as
defined in Section&nbsp;1(b). This Warrant is one of the Warrants issued pursuant to the Company&rsquo;s Registration Statement
on Form S-3 (File number 333-218158) (the &ldquo;<U>Registration Statement</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section&nbsp;1.&#9;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Exercise</U></FONT>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(a)&nbsp;<U>Exercise
of Warrant</U>. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times
on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile
copy (or <I>.pdf</I> copy via e-mail attachment) of the Notice of Exercise in the form attached hereto as <U>Exhibit A</U> (the
&ldquo;<U>Notice of Exercise</U>&rdquo;). Within the earlier of (i) two Trading Days and (ii) the number of Trading Days comprising
the Standard Settlement Period (as defined in Section&nbsp;1(d)(i) herein) following the date of exercise as aforesaid, the Holder
shall deliver the aggregate Exercise Price for the Warrant Shares specified in the applicable Notice of Exercise by wire transfer
or cashier&rsquo;s check drawn on a United States bank unless the cashless exercise procedure specified in Section&nbsp;1(c) below
is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion
guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding anything herein to
the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased
all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender
this Warrant to the Company for cancellation within three days on which the principal Trading Market (as defined below) is open
for trading (&ldquo;<U>Trading Days</U>&rdquo;) of the date the final Notice of Exercise is delivered to the Company. Partial exercises
of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect
of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant
Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date
of such purchases. The Company shall deliver any objection to any Notice of Exercise within one business day of receipt of such
notice. <B>The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions
of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available
for purchase hereunder at any given time may be less than the amount stated on the face hereof.</B></P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(b)&nbsp;<U>Exercise
Price</U>. The exercise price per share of Common Stock under this Warrant shall be $0.50, subject to adjustment hereunder (the
&ldquo;<U>Exercise Price</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(c)&nbsp;<U>Cashless
Exercise</U>. A &ldquo;cashless exercise&rdquo; as described below, may occur after March 11, 2019 (the &ldquo;Cashless Date&rdquo;),
if the VWAP of the Common Stock on any Trading Day on or after the Cashless Date fails to exceed the Exercise Price in effect as
of the date hereof (subject to adjustment for any stock splits, stock dividends, stock combinations, recapitalizations and similar
events). In such event, in lieu of the formula below, the aggregate number of Warrant Shares issuable in such cashless exercise
pursuant to any given Notice of Exercise electing to effect a cashless exercise shall equal the product of (x) the aggregate number
of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise
were by means of a cash exercise rather than a cashless exercise and (y) 0.70. Additionally, if at the time of exercise hereof
there is no effective registration statement registering, or the prospectus contained therein is not available for the issuance
of the Warrant Shares to the Holder, then this Warrant may also be exercised, in whole or in part, at such time by means of a &ldquo;cashless
exercise&rdquo; in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing
[(A-B) (X)] by (A), where:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 92%; margin-left: 0.5in; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 5.2%; text-align: justify">(A)</TD>
    <TD STYLE="width: 94.8%; text-align: justify">as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section&nbsp;1(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section&nbsp;1(a) hereof on a Trading Day prior to the opening of &ldquo;regular trading hours&rdquo; (as defined in Rule 600(b)(64) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg, L.P. (&ldquo;<U>Bloomberg</U>&rdquo;) as of the time of the Holder&rsquo;s execution of the applicable Notice of Exercise if such Notice of Exercise is executed during &ldquo;regular trading hours&rdquo; on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of &ldquo;regular trading hours&rdquo; on a Trading Day) pursuant to Section&nbsp;1(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section&nbsp;1(a) hereof after the close of &ldquo;regular trading hours&rdquo; on such Trading Day;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify">(B)</TD>
    <TD STYLE="text-align: justify">= the Exercise Price of this Warrant, as adjusted hereunder; and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify">(X)</TD>
    <TD STYLE="text-align: justify">= the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">If
Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9)
of the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;), the Warrant Shares shall take on the registered
characteristics of the Warrants being exercised. The Company agrees not to take any position contrary to this Section&nbsp;1(c).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>Bid Price</U>&rdquo; means, for
any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted
on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest preceding date) on the Trading
Market on which the Common Stock is then listed or quoted as reported by Bloomberg (based on a Trading Day from 9:30 a.m. (New
York City time) to 4:02 p.m. (New York City time)), (b)&nbsp; if OTCQB or OTCQX is not a Trading Market, the volume weighted average
price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Stock
is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported in the &ldquo;Pink
Sheets&rdquo; published by OTC Markets Group, Inc. (or a similar organization or agency succeeding to its functions of reporting
prices), the most recent bid price per share of the Common Stock so reported, or (d)&nbsp;in all other cases, the fair market value
of a share of Common Stock as determined by an independent appraiser selected in good faith by the Purchasers of a majority in
interest of the Securities then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid
by the Company.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>Trading Market</U>&rdquo; means
any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the
NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock Exchange
(or any successors to any of the foregoing).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>VWAP</U>&rdquo; means, for any
date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted
on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date)
on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg (based on a Trading Day from
9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the volume weighted
average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common
Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported in the &ldquo;Pink
Sheets&rdquo; published by OTC Markets Group, Inc. (or a similar organization or agency succeeding to its functions of reporting
prices), the most recent bid price per share of Common Stock so reported, or (d) in all other cases, the fair market value of a
share of Common Stock as determined by an independent appraiser selected in good faith by the Purchasers of a majority in interest
of the Securities then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the
Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding anything herein to the
contrary, subject to the limitations set forth in Section&nbsp;1(e), on the Termination Date, this Warrant shall be automatically
exercised via cashless exercise pursuant to this Section&nbsp;1(c) if the applicable VWAP is greater than the Exercise Price.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(d)&nbsp;<U>Mechanics
of Exercise</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;<U>Delivery of Warrant Shares Upon Exercise</U>. The Company shall cause the Warrant Shares purchased
hereunder to be transmitted by the Transfer Agent to the Holder by crediting the account of the Holder&rsquo;s or its designee&rsquo;s
balance account with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (&ldquo;<U>DWAC</U>&rdquo;)
if the Company is then a participant in such system and either (A) there is an effective registration statement permitting the
issuance of the Warrant Shares to or resale of the Warrant Shares by the Holder or (B) this Warrant is being exercised via cashless
exercise, and otherwise by physical delivery of a certificate, registered in the Company&rsquo;s share register in the name of
the Holder or its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the
address specified by the Holder in the Notice of Exercise by the date that is the earlier of (i) the earlier of (A) two Trading
Days after the delivery to the Company of the Notice of Exercise and (B) one Trading Day after delivery of the aggregate Exercise
Price to the Company and (ii) the number of Trading Days comprising the Standard Settlement Period after the delivery to the Company
of the Notice of Exercise (such date, the &ldquo;<U>Warrant Share Delivery Date</U>&rdquo;). Upon delivery of the Notice of Exercise,
the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to
which this Warrant has been exercised, irrespective of the date of delivery of the Warrant Shares, provided that payment of the
aggregate Exercise Price (other than in the case of a cashless exercise) is received within the earlier of (i) two Trading Days
and (ii) the number of Trading Days comprising the Standard Settlement Period following delivery of the Notice of Exercise. If
the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share
Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant
Shares subject to such exercise (based on the VWAP of the Common Stock on the date of the applicable Notice of Exercise), $5.00
per Trading Day for each of the first three Trading Days after such Warrant Share Delivery Date and $10.00 per Trading Day for
each day thereafter until such Warrant Shares are delivered or Holder rescinds such exercise. The Company agrees to maintain a
transfer agent that is a participant in the FAST program so long as this Warrant remains outstanding and exercisable. As used
herein, &ldquo;<U>Standard Settlement Period</U>&rdquo; means the standard settlement period, expressed in a number of Trading
Days, on the Company&rsquo;s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the
Notice of Exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;<U>Delivery
of New Warrants Upon Exercise</U>. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder
and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant
evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall
in all other respects be identical with this Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;<U>Rescission
Rights</U>. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section&nbsp;1(d)(i)
by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise by delivery of written notice
of rescission to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;<U>Compensation
for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise</U>. In addition to any other rights available to the Holder,
if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions
of Section&nbsp;1(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the
Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder&rsquo;s brokerage firm
otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the
Holder anticipated receiving upon such exercise (a &ldquo;<U>Buy-In</U>&rdquo;), then the Company shall (A) pay in cash to the
Holder the amount, if any, by which (x) the Holder&rsquo;s total purchase price (including brokerage commissions, if any) for the
shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that the Company
was required to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell order giving
rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant
and equivalent number of Warrant Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded)
or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with
its exercise and delivery obligations hereunder. For example, if the Holder purchases shares of Common Stock having a total purchase
price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price
giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be
required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder
in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder&rsquo;s
right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific
performance and/or injunctive relief with respect to the Company&rsquo;s failure to timely deliver shares of Common Stock upon
exercise of the Warrant as required pursuant to the terms hereof. The obligation of the Company to pay compensation for Buy-In
under this Section&nbsp;1(d)(iv) is subject to delivery by the Holder of the aggregate Exercise Price in accordance with the terms
of Section&nbsp;1(a).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;<U>No
Fractional Shares or Scrip</U>. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction
multiplied by the Exercise Price or round up to the next whole share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;<U>Charges,
Taxes and Expenses</U>. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or
other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the
Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder;
<U>provided</U>, <U>however</U>, that in the event that Warrant Shares are to be issued in a name other than the name of the Holder,
this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto as <U>Exhibit B</U> duly
executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for
any transfer tax incidental thereto. The Company shall pay all Transfer Agent fees required for same-day processing of any Notice
of Exercise and all fees to the Depository Trust Company (or another established clearing corporation performing similar functions)
required for same-day electronic delivery of the Warrant Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;<U>Closing
of Books</U>. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this
Warrant, pursuant to the terms hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(e)&nbsp;<U>Holder&rsquo;s
Exercise Limitations</U>. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise
any portion of this Warrant, pursuant to Section&nbsp;1 or otherwise, to the extent that after giving effect to such issuance after
exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder&rsquo;s affiliates (as defined
in Rule 405 promulgated under the Securities Act, &ldquo;<U>Affiliates</U>&rdquo;), and any other Persons acting as a group together
with the Holder or any of the Holder&rsquo;s Affiliates (such Persons, &ldquo;<U>Attribution Parties</U>&rdquo;)), would beneficially
own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of
shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of
shares of Common Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall
exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of
this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of
the unexercised or nonconverted portion of any other securities of the Company (including, without limitation, any other Common
Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially
owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes
of this Section&nbsp;1(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the
rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder
that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules
required to be filed in accordance therewith. To the extent that the limitation contained in this Section&nbsp;1(e) applies, the
determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates
and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and
the submission of a Notice of Exercise shall be deemed to be the Holder&rsquo;s determination of whether this Warrant is exercisable
(in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion
of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation
to verify or confirm the accuracy of such determination and shall have no liability for exercises of this Warrant that are not
in compliance with the Beneficial Ownership Limitation (other than to the extent that information on the number of outstanding
shares of Common Stock of the Company is provided by the Company and relied upon by the Holder). In addition, a determination as
to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules
and regulations promulgated thereunder and the Company shall have no obligation to verify or confirm the accuracy of such determination
and shall have no liability for exercises of this Warrant that are not in compliance with the Beneficial Ownership Limitation.
For purposes of this Section&nbsp;1(e), in determining the number of outstanding shares of Common Stock, a Holder may rely on the
number of outstanding shares of Common Stock as reflected in (A) the Company&rsquo;s most recent periodic or annual report filed
with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice
by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request
of a Holder, the Company shall within one Trading Day confirm orally and in writing to the Holder the number of shares of Common
Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to
the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates or Attribution
Parties since the date as of which such number of outstanding shares of Common Stock was reported. The &ldquo;<U>Beneficial Ownership
Limitation</U>&rdquo; shall be 4.99% of the number of shares of Common Stock outstanding immediately after giving effect to the
issuance of shares of Common Stock issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may increase
or decrease the Beneficial Ownership Limitation provisions of this Section&nbsp;1(e), provided that the Beneficial Ownership Limitation
in no event exceeds 9.99% of the number of shares of Common Stock outstanding immediately after giving effect to the issuance of
the shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section&nbsp;1(e) shall
continue to apply. Any such increase in the Beneficial Ownership Limitation will not be effective until the 61<FONT STYLE="font-size: 10pt"><SUP>st</SUP></FONT>
day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner
otherwise than in strict conformity with the terms of this Section&nbsp;1(e) to correct this paragraph (or any portion hereof)
which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or
supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall
apply to a successor holder of this Warrant.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(f)&nbsp;<U>Call
Provision</U>.&nbsp;Subject to the provisions of Section&nbsp;1(e) and this Section&nbsp;1(f), if, after the Initial Exercise Date,
(i) the VWAP for each of 20 consecutive Trading Days (the &ldquo;<U>Measurement Period</U>,&rdquo; which 20 consecutive Trading
Day period shall not have commenced until after the Initial Exercise Date) exceeds 300% of the Exercise Price (subject to adjustment
for forward and reverse stock splits, recapitalizations, stock dividends and the like after the Initial Exercise Date), (ii) the
daily dollar volume on each Trading Day during the Measurement Period exceeds $300,000 per Trading Day, and (iii) the Holder is
not in possession of any information that constitutes, or might constitute, material non-public information which was provided
by the Company, any of its subsidiaries, or any of their officers, directors, employees, agents or Affiliates, then the Company
may, within one Trading Day of the end of such Measurement Period, call for cancellation of all or any portion of this Warrant
for which a Notice of Exercise has not yet been delivered (such right, a &ldquo;<U>Call</U>&rdquo;) for consideration equal to
$0.001 per Warrant Share.&nbsp; To exercise this right, the Company must deliver to the Holder an irrevocable written notice (a
&ldquo;<U>Call Notice</U>&rdquo;), indicating therein the portion of unexercised portion of this Warrant to which such notice applies.&nbsp;
If the conditions set forth below for such Call are satisfied from the period from the date of the Call Notice through and including
the Call Date (as defined below), then any portion of this Warrant subject to such Call Notice for which a Notice of Exercise shall
not have been received by the Call Date will be cancelled at 6:30 p.m. (New York City time) on the tenth Trading Day after the
date the Call Notice is received by the Holder (such date and time, the &ldquo;<U>Call Date</U>&rdquo;).&nbsp; Any unexercised
portion of this Warrant to which the Call Notice does not pertain will be unaffected by such Call Notice.&nbsp; In furtherance
thereof, the Company covenants and agrees that it will honor all Notices of Exercise with respect to Warrant Shares subject to
a Call Notice that are tendered through 6:30 p.m. (New York City time) on the Call Date.&nbsp; The parties agree that any Notice
of Exercise delivered following a Call Notice which calls less than all of the Warrants shall first reduce to zero the number of
Warrant Shares subject to such Call Notice prior to reducing the remaining Warrant Shares available for purchase under this Warrant.&nbsp;
For example, if (A) this Warrant then permits the Holder to acquire 100 Warrant Shares, (B) a Call Notice pertains to 75 Warrant
Shares, and (C) prior to 6:30 p.m. (New York City time) on the Call Date the Holder tenders a Notice of Exercise in respect of
50 Warrant Shares, then (x) on the Call Date the right under this Warrant to acquire 25 Warrant Shares will be automatically cancelled,
(y) the Company, in the time and manner required under this Warrant, will have issued and delivered to the Holder 50 Warrant Shares
in respect of the exercises following receipt of the Call Notice, and (z) the Holder may, until the Termination Date, exercise
this Warrant for 25 Warrant Shares (subject to adjustment as herein provided and subject to subsequent Call Notices).&nbsp; Subject
again to the provisions of this Section&nbsp;1(f), the Company may deliver subsequent Call Notices for any portion of this Warrant
for which the Holder shall not have delivered a Notice of Exercise. Notwithstanding anything to the contrary set forth in this
Warrant, the Company may not deliver a Call Notice or require the cancellation of this Warrant (and any such Call Notice shall
be void), unless, from the beginning of the Measurement Period through the Call Date, (1) the Company shall have honored in accordance
with the terms of this Warrant all Notices of Exercise delivered by 6:30 p.m. (New York City time) on the Call Date, and (2) a
registration statement shall be effective as to all Warrant Shares and the prospectus thereunder available for use by the Company
for the sale of all such Warrant Shares to the Holder, and (3) the Common Stock shall be listed or quoted for trading on the Trading
Market, and (4) there is a sufficient number of authorized shares of Common Stock for issuance of all Warrant Shares under this
Warrant, and (5) the issuance of all Warrant Shares subject to a Call Notice shall not cause a breach of any provision of Section&nbsp;1(e)
herein.&nbsp; The Company&rsquo;s right to call the Warrants under this Section&nbsp;1(f) shall be exercised ratably among the
Holders based on each Holder&rsquo;s initial purchase of Warrants.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section&nbsp;2.&#9;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Certain
Adjustments</U></FONT>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(a)&nbsp;<U>Stock
Dividends and Splits</U>. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise
makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable
in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon
exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including
by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by reclassification
of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied
by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding
immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately
after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the
aggregate Exercise Price of this Warrant shall remain unchanged, subject to the limitation on fractional shares in Section&nbsp;1(d)(v).
Any adjustment made pursuant to this Section&nbsp;2(a) shall become effective immediately after the record date for the determination
of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date
in the case of a subdivision, combination or re-classification.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(b)&nbsp;<U>Adjustment
Upon Issuance of Shares of Common Stock</U>. If and whenever on or after the date of issuance (the &ldquo;<U>Issuance Date</U>&rdquo;),
the Company issues or sells, or in accordance with this Section&nbsp;2(b) is deemed to have issued or sold, any shares of Common
Stock and/or Common Stock Equivalents (including the issuance or sale of shares of Common Stock owned or held by or for the account
of the Company, but excluding any Exempt Issuance issued or sold or deemed to have been issued or sold) for a consideration per
share (the &ldquo;<U>New Issuance Price</U>&rdquo;) less than a price equal to the Exercise Price in effect immediately prior to
such issuance or sale or deemed issuance or sale (such Exercise Price then in effect is referred to herein as the &ldquo;<U>Applicable
Price</U>&rdquo;) (the foregoing a &ldquo;<U>Dilutive Issuance</U>&rdquo;), then immediately upon such Dilutive Issuance, the Exercise
Price then in effect shall be reduced to an amount equal to the New Issuance Price. &ldquo;<U>Exempt Issuance</U>&rdquo; means
the issuance of (a) Common Stock, options or other equity awards to employees, officers, consultants, members of its strategic
advisory board, or directors of the Company pursuant to any stock or option plan or employee stock purchase plan duly adopted for
such purpose (provided that issuances to consultants and members of its strategic advisory board shall be unregistered and carry
no registration rights and shall not exceed an aggregate of 150,000 shares (subject to adjustment for any stock splits or recapitalizations
following date hereof) in any three-month period), by a majority of the non-employee members of the Board of Directors or a majority
of the members of a committee of non-employee directors established for such purpose for services rendered to the Company, (b)
securities issuable upon the exercise or exchange of or conversion of these Warrants and/or other securities exercisable or exchangeable
for or convertible into shares of Common Stock issued and outstanding on the date of this Warrant; <U>provided</U>&nbsp;that such
securities have not been amended since the date of this Warrant to increase the number of such securities or to decrease the exercise
price, exchange price or conversion price of such securities (other than in connection with stock splits or combinations) or to
extend the term of such securities, and (c) securities issued pursuant to acquisitions or strategic transactions approved by a
majority of the disinterested directors of the Company; provided that such securities are issued as &ldquo;restricted securities&rdquo;
(as defined in Rule 144 under the Securities Act) and carry no registration rights that require or permit the filing of any registration
statement in connection therewith within 90 days of the date of this Warrant and provided that any such issuance shall only be
to a Person (or to the equityholders of a Person) which is, itself or through its subsidiaries, an operating company or an owner
of an asset in a business synergistic with the business of the Company and shall provide to the Company additional benefits in
addition to the investment of funds, but shall not include a transaction in which the Company is issuing securities primarily for
the purpose of raising capital or to an entity whose primary business is investing in securities. For all purposes of the foregoing
(including, without limitation, determining the adjusted Exercise Price and the New Issuance Price under this Section&nbsp;2(b)),
the following shall be applicable:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;<U>Issuance
of Options</U>. If the Company in any manner grants or sells any rights, warrants or options to subscribe for or purchase shares
of preferred stock and/or Common Stock or Common Stock Equivalents (&ldquo;<U>Options</U>&rdquo;) and the lowest price per share
for which one share of Common Stock is at any time issuable upon the exercise of any such Option or upon conversion, exercise or
exchange of any Common Stock Equivalents issuable upon exercise of any such Option or otherwise pursuant to the terms thereof is
less than the Applicable Price, then such share of Common Stock shall be deemed to be outstanding and to have been issued and sold
by the Company at the time of the granting or sale of such Option for such price per share. For purposes of this Section&nbsp;2(b)(i),
the &ldquo;lowest price per share for which one share of Common Stock is issuable upon the exercise of any such Options or upon
conversion, exercise or exchange of any Common Stock Equivalents issuable upon exercise of any such Option or otherwise pursuant
to the terms thereof&rdquo; shall be equal to (1) the lower of (x) the sum of the lowest amounts of consideration (if any) received
or receivable by the Company with respect to any one share of Common Stock upon the granting or sale of such Option, upon exercise
of such Option and upon conversion, exercise or exchange of any Common Stock Equivalents issuable upon exercise of such Option
or otherwise pursuant to the terms thereof and (y) the lowest exercise price set forth in such Option for which one share of Common
Stock is issuable upon the exercise of any such Options or upon conversion, exercise or exchange of any Common Stock Equivalents
issuable upon exercise of any such Option or otherwise pursuant to the terms thereof. Except as contemplated below, no further
adjustment of the Exercise Price shall be made upon the actual issuance of such shares of Common Stock or of such Common Stock
Equivalents upon the exercise of such Options or otherwise pursuant to the terms of or upon the actual issuance of such shares
of Common Stock upon conversion, exercise or exchange of such Common Stock Equivalents.&nbsp;This Section&nbsp;2(b)(i) shall not
apply to any Exempt Issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;<U>Issuance
of Common Stock Equivalents</U>. If the Company in any manner issues or sells any Common Stock Equivalents and the lowest price
per share for which one share of Common Stock is at any time issuable upon the conversion, exercise or exchange thereof or otherwise
pursuant to the terms thereof is less than the Exercise Price, then such share of Common Stock shall be deemed to be outstanding
and to have been issued and sold by the Company at the time of the issuance or sale of such Common Stock Equivalents for such price
per share. For the purposes of this Section&nbsp;2(b)(ii), the &ldquo;lowest price per share for which one share of Common Stock
is issuable upon the conversion, exercise or exchange thereof or otherwise pursuant to the terms thereof&rdquo; shall be equal
to (1) the lower of (x) the sum of the lowest amounts of consideration (if any) received or receivable by the Company with respect
to one share of Common Stock upon the issuance or sale of the Common Stock Equivalent and upon conversion, exercise or exchange
of such Common Stock Equivalent or otherwise pursuant to the terms thereof and (y) the lowest conversion price set forth in such
Common Stock Equivalent for which one share of Common Stock is issuable upon conversion, exercise or exchange thereof or otherwise
pursuant to the terms thereof minus (2) the sum of all amounts paid or payable to the holder of such Common Stock Equivalent (or
any other Person) upon the issuance or sale of such Common Stock Equivalent plus the value of any other consideration received
or receivable by, or benefit conferred on, the holder of such Common Stock Equivalent (or any other Person). Except as contemplated
below, no further adjustment of the Exercise Price shall be made upon the actual issuance of such shares of Common Stock upon conversion,
exercise or exchange of such Common Stock Equivalents or otherwise pursuant to the terms thereof, and if any such issuance or sale
of such Common Stock Equivalents is made upon exercise of any Options for which adjustment of the Warrant has been or is to be
made pursuant to other provisions of this Section&nbsp;2(b), except as contemplated below, no further adjustment of the Exercise
Price shall be made by reason of such issuance or sale.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;<U>Change
in Option Price or Rate of Conversion</U>. If the purchase or exercise price provided for in any Options, the additional consideration,
if any, payable upon the issue, conversion, exercise or exchange of any Common Stock Equivalents, or the rate at which any Common
Stock Equivalents are convertible into or exercisable or exchangeable for shares of Common Stock increases or decreases at any
time (other than proportional changes in conversion or exercise prices, as applicable, in connection with an event referred to
in Section&nbsp;2(a)), the Exercise Price in effect at the time of such increase or decrease shall be adjusted to the Exercise
Price which would have been in effect at such time had such Options or Common Stock Equivalents provided for such increased or
decreased purchase price, additional consideration or increased or decreased conversion rate, as the case may be, at the time initially
granted, issued or sold. For purposes of this Section&nbsp;2(b)(iii), if the terms of any Option or Common Stock Equivalents that
was outstanding as of the Issuance Date are increased or decreased in the manner described in the immediately preceding sentence,
then such Option or Common Stock Equivalents and the shares of Common Stock deemed issuable upon exercise, conversion or exchange
thereof shall be deemed to have been issued as of the date of such increase or decrease. No adjustment pursuant to this Section&nbsp;2(b)
shall be made if such adjustment would result in an increase of the Exercise Price then in effect.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;<U>Calculation
of Consideration Received</U>. If any Option and/or Common Stock Equivalent and/or Adjustment Right is issued in connection with
the issuance or sale or deemed issuance or sale of any other securities of the Company (as determined by the Holder, the &ldquo;<U>Primary
Security</U>,&rdquo; and such Option and/or Common Stock Equivalent and/or Adjustment Right, the &ldquo;<U>Secondary Securities</U>&rdquo;
and together with the Primary Security, each a &ldquo;<U>Unit</U>&rdquo;), together comprising one integrated transaction, the
aggregate consideration per share of Common Stock with respect to such Primary Security shall be deemed to be the lower of (x)
the purchase price of such Unit, (y) if such Primary Security is an Option and/or Common Stock Equivalent, the lowest price per
share for which one share of Common Stock is at any time issuable upon the exercise or conversion of the Primary Security in accordance
with Section&nbsp;2(b)(i) or Section&nbsp;2(b)(ii) above and (z) the lowest VWAP of the Common Stock on any Trading Day during
the four Trading Day period immediately following the public announcement of such Dilutive Issuance (for the avoidance of doubt,
if such public announcement is released prior to the opening of the Trading Market on a Trading Day, such Trading Day shall be
the first Trading Day in such four Trading Day period). If any shares of Common Stock, Options or Common Stock Equivalents are
issued or sold or deemed to have been issued or sold for cash, the consideration received therefor will be deemed to be the net
amount of consideration received by the Company therefor. If any shares of Common Stock, Options or Common Stock Equivalents are
issued or sold for a consideration other than cash, the amount of such consideration received by the Company will be the fair value
of such consideration, except where such consideration consists of publicly traded securities, in which case the amount of consideration
received by the Company for such securities will be the arithmetic average of the VWAPs of such security for each of the five Trading
Days immediately preceding the date of receipt. If any shares of Common Stock, Options or Common Stock Equivalents are issued to
the owners of the non-surviving entity in connection with any merger in which the Company is the surviving entity, the amount of
consideration therefor will be deemed to be the fair value of such portion of the net assets and business of the non-surviving
entity as is attributable to such shares of Common Stock, Options or Common Stock Equivalents (as the case may be). The fair value
of any consideration other than cash or publicly traded securities will be determined jointly by the Company and the Holder. If
such parties are unable to reach agreement within ten days after the occurrence of an event requiring valuation (the &ldquo;<U>Valuation
Event</U>&rdquo;), the fair value of such consideration will be determined within five Trading Days after the tenth day following
such Valuation Event by an independent, reputable appraiser jointly selected by the Company and the Holder. The determination of
such appraiser shall be final and binding upon all parties absent manifest error and the fees and expenses of such appraiser shall
be borne by the Company. For purposes of hereof, &ldquo;<U>Adjustment Right</U>&rdquo; means any right granted with respect to
any securities issued in connection with, or with respect to, any issuance or sale (or deemed issuance or sale in accordance with
this Section&nbsp;2) of shares of Common Stock (other than rights of the type described in Section&nbsp;2(e)and Section&nbsp;2(g)
hereof) that could result in a decrease in the net consideration received by the Company in connection with, or with respect to,
such securities (including, without limitation, any cash settlement rights, cash adjustment or other similar rights).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;<U>Holder&rsquo;s
Right of Alternative Exercise Price</U>. In addition to and not in limitation of the other provisions of this Section&nbsp;2, if
the Company in any manner issues or sells or enters into any agreement to issue or sell, any Common Stock, Options or Common Stock
Equivalents (any such securities, &ldquo;<U>Variable Price Securities</U>&rdquo;) after the Closing Date that are issuable or convertible
into or exchangeable or exercisable for shares of Common Stock pursuant to such Options or Common Stock Equivalents, as applicable,
at a price which varies or may vary with the market price of the shares of Common Stock, including by way of one or more reset(s)
to a fixed price, but exclusive of such formulations reflecting customary anti-dilution provisions (such as share splits, share
combinations, share dividends and similar transactions) (each of the formulations for such variable price being herein referred
to as, the &ldquo;<U>Variable Price</U>&rdquo;), the Company shall provide written notice thereof via a facsimile and overnight
courier to the Holder on the date of such agreement and/or the issuance of such Common Stock Equivalents or Options, as applicable.
From and after the date the Company enters into such agreement or issues any such Variable Price Securities, the Holder shall have
the right, but not the obligation, in its sole discretion to substitute the Variable Price for the Exercise Price upon exercise
of this Warrant by designating in the Notice of Exercise delivered upon any exercise of this Warrant that solely for purposes of
such exercise the Holder is relying on the Variable Price rather than the Exercise Price then in effect. The Holder&rsquo;s election
to rely on a Variable Price for a particular exercise of this Warrant shall not obligate the Holder to rely on a Variable Price
for any future exercise of this Note.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;<U>Record
Date</U>. If the Company takes a record of the holders of shares of Common Stock for the purpose of entitling them (A) to receive
a dividend or other distribution payable in shares of Common Stock, Options or in Common Stock Equivalents or (B) to subscribe
for or purchase shares of Common Stock, Options or Common Stock Equivalents, then such record date will be deemed to be the date
of the issuance or sale of the shares of Common Stock deemed to have been issued or sold upon the declaration of such dividend
or the making of such other distribution or the date of the granting of such right of subscription or purchase (as the case may
be).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;<U>Floor
Price</U>. In any event the Exercise Price, as adjusted pursuant to the provisions of this Section&nbsp;2(b), will not be less
than $0.14 per share.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(c)&nbsp;<U>Subsequent
Rights Offerings</U>. In addition to any adjustments pursuant to Section&nbsp;2(a) above, if at any time the Company grants, issues
or sells any securities of the Company or its subsidiaries which would entitle the holder thereof to acquire at any time shares
of Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at
any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock
(&ldquo;<U>Common Stock Equivalents</U>&rdquo;) or rights to purchase shares, warrants, securities or other property pro rata to
the record holders of any class of shares of Common Stock (the &ldquo;<U>Purchase Rights</U>&rdquo;), then the Holder will be entitled
to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to
any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date
on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as
of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights
(provided, however, to the extent that the Holder&rsquo;s right to participate in any such Purchase Right would result in the Holder
exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such
extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase
Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in
the Holder exceeding the Beneficial Ownership Limitation).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(d)&nbsp;<U>Pro
Rata Distributions</U>. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other
distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital
or otherwise (including, without limitation, any distribution of cash, shares or other securities, property or options by way of
a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (other than
dividends or distributions subject to Section&nbsp;2(a)) (a &ldquo;<U>Distribution</U>&rdquo;), at any time after the issuance
of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that
the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable upon complete
exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership
Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date
as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution (provided,
however, to the extent that the Holder&rsquo;s right to participate in any such Distribution would result in the Holder exceeding
the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or
in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such
Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result
in the Holder exceeding the Beneficial Ownership Limitation).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(e)&nbsp;<U>Fundamental
Transaction</U>. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly,
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets
in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether
by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange
their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding shares
of Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization of the Common Stock or any compulsory stock exchange pursuant to which the shares of Common Stock are effectively
converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more
related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation,
a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other
Person or group acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held
by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to,
such stock or share purchase agreement or other business combination) (each a &ldquo;<U>Fundamental Transaction</U>&rdquo;), then,
upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have
been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder
(without regard to any limitation in Section&nbsp;1(e) on the exercise of this Warrant), the number of shares of Common Stock of
the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration
(the &ldquo;<U>Alternate Consideration</U>&rdquo;) receivable as a result of such Fundamental Transaction by a holder of the number
of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without regard
to any limitation in Section&nbsp;1(e) on the exercise of this Warrant). For purposes of any such exercise, the determination of
the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration
issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise
Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the
Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received
in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon
any exercise of this Warrant following such Fundamental Transaction. Notwithstanding anything to the contrary, in the event of
a Fundamental Transaction, the Company or any Successor Entity (as defined below) shall, at the Holder&rsquo;s option, exercisable
at any time concurrently with, or within 30 days after, the consummation of the Fundamental Transaction (or, if later, the date
of the public announcement of the applicable Fundamental Transaction), purchase this Warrant from the Holder by paying to the Holder
an amount of cash equal to the Black Scholes Value of the remaining unexercised portion of this Warrant on the date of the consummation
of such Fundamental Transaction; provided, however, if the Fundamental Transaction is not within the Company&rsquo;s control, including
not approved by the Company&rsquo;s Board of Directors or the consideration is not in all stock of the Successor Entity, Holder
shall have the option to require the Company or any Successor Entity to purchase its Warrant for the Black Scholes Value of the
unexercised portion of this Warrant as of the date of consummation of such Fundamental Transaction using the same type or form
of consideration (and in the same proportion) that is being offered and paid to the holders of Common Stock of the Company in connection
with the Fundamental Transaction, whether that consideration be in the form of cash, stock or any combination thereof, or whether
the holders of Common Stock are given the choice to receive from among alternative forms of consideration in connection with the
Fundamental Transaction. &ldquo;Black Scholes Value&rdquo; means the value of this Warrant based on the Black and Scholes Option
Pricing Model obtained from the &ldquo;OV&rdquo; function on Bloomberg determined as of the day of consummation of the applicable
Fundamental Transaction for pricing purposes and reflecting (A) a risk-free interest rate corresponding to the U.S. Treasury rate
for a period equal to the time between the date of the public announcement of the applicable Fundamental Transaction and the Termination
Date, (B) an expected volatility equal to the greater of 100% and the 100 day volatility obtained from the HVT function on Bloomberg
as of the Trading Day immediately following the public announcement of the applicable Fundamental Transaction, (C) the underlying
price per share used in such calculation shall be the greater of (1) the highest closing sale price of the Common Stock on its
principal trading venue during the period beginning on the Trading Day immediately preceding the announcement of the applicable
Fundamental Transaction (or the consummation of the applicable Fundamental Transaction, if earlier) and ending on the Trading Day
of the Holder&rsquo;s request pursuant to this Section&nbsp;2(e) and (2) the sum of the price per share being offered in cash in
the applicable Fundamental Transaction (if any) plus the value of the non-cash consideration being offered in the applicable Fundamental
Transaction (if any), and (D) a remaining option time equal to the time between the date of the public announcement of the applicable
Fundamental Transaction and the Termination Date. The payment of the Black Scholes Value will be made by wire transfer of immediately
available funds within five business days of the Holder&rsquo;s election (or, if later, on the effective date of the Fundamental
Transaction). The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor
(the &ldquo;<U>Successor Entity</U>&rdquo;) to assume in writing all of the obligations of the Company under this Warrant and the
other Transaction Documents in accordance with the provisions of this Section&nbsp;2(e) pursuant to customary written agreements
in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable conditions or delay)
prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant
a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant
which is exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent
to the shares of Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the
exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the Exercise Price hereunder
to such capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction
and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose
of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which
is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor
Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions
of this Warrant and the other Transaction Documents referring to the &ldquo;Company&rdquo; shall refer instead to the Successor
Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this
Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(f)&nbsp;<U>Calculations</U>.
All calculations under this Section&nbsp;2 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may
be. For purposes of this Section&nbsp;2, the number of shares of Common Stock deemed to be issued and outstanding as of a given
date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(g)&nbsp;<U>Notice
to Holder</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;<U>Adjustment
to Exercise Price</U>. Whenever the Exercise Price is adjusted pursuant to any provision of this Section&nbsp;2, the Company shall
promptly deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting
adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;<U>Notice
to Allow Exercise by Holder</U>. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer
of all or substantially all of the assets of the Company, or any compulsory stock exchange whereby the Common Stock is converted
into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation
or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email
to the Holder at its last facsimile number or email address as it shall appear upon the Warrant Register of the Company, at least
ten calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which
a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to
be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption,
rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or
stock exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock
of record shall be entitled to exchange their shares of Common Stock for securities, cash or other property deliverable upon such
reclassification, consolidation, merger, sale, transfer or stock exchange; provided that the failure to deliver such notice or
any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified in
such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material, non-public information
regarding the Company or any of its subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant
to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the
date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;<U>Voluntary
Adjustments by the Company</U>. The Company may at any time during the term of this Warrant reduce the then current Exercise Price
to any amount and for any period of time deemed appropriate by the Board of Directors of Company with the prior written consent
of the holders of a majority in interest of the Warrants based on the initial amounts under each Warrant of even date with this
Warrant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section&nbsp;3.&nbsp;&nbsp;&nbsp;&#9;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Transfer
of Warrant</U></FONT>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(a)&nbsp;<U>Transferability</U>.
This Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in
part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment
of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient
to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company
shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination
or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion
of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary,
the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant
in full, in which case, the Holder shall surrender this Warrant to the Company within three Trading Days of the date the Holder
delivers an assignment form to the Company assigning this Warrant in full. The Warrant, if properly assigned in accordance herewith,
may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(b)&nbsp;<U>New
Warrants</U>. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Holder or its agent or attorney. Subject to compliance with Section&nbsp;3(a), as to any transfer which may be involved in
such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants
to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Issue
Date of this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(c)&nbsp;<U>Warrant
Register</U>. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the &ldquo;<U>Warrant
Register</U>&rdquo;), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and
for all other purposes, absent actual notice to the contrary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Miscellaneous</U></FONT>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(a)&nbsp;<U>No
Rights as Stockholder Until Exercise</U>. This Warrant does not entitle the Holder to any voting rights, dividends or other rights
as a stockholder of the Company prior to the exercise hereof as set forth in Section&nbsp;1(d)(i), except as expressly set forth
in Section&nbsp;2.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(b)&nbsp;<U>Loss,
Theft, Destruction or Mutilation of Warrant</U>. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of
the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(c)&nbsp;<U>Saturdays,
Sundays, Holidays, etc</U>. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a business day, then, such action may be taken or such right may be exercised on the next succeeding
business day.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(d)&nbsp;<U>Authorized
Shares</U>. The Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued
Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase
rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its
officers who are charged with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this
Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued
as provided herein without violation of any applicable law or regulation, or of any requirements of the Trading Market upon which
the Common Stock may be listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase
rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such
Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes,
liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring
contemporaneously with such issue).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Except and to the extent as waived
or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its certificate of
incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities
or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will
at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary
or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality
of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon
such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in
order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant
and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory
body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Before taking any action which
would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the
Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory
body or bodies having jurisdiction thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(e)&nbsp;<U>Jurisdiction</U>.
<B>This Warrant shall be governed by and construed in accordance with the laws of the State of New York, without regard for conflict
of laws principles.</B> Each of the Holder and the Company hereto hereby submits to the non-exclusive jurisdiction of the Federal
and state courts in the Borough of Manhattan in The City of New York in any suit or proceeding arising out of or relating to this
Agreement or the transactions contemplated hereby. Each of the Holder and the Company irrevocably and unconditionally waives any
objection to the laying of venue of any suit or proceeding arising out of or relating to this Warrant in Federal and state courts
in the Borough of Manhattan in The City of New York and irrevocably and unconditionally waives and agrees not to plead or claim
in any such court that any such suit or proceeding in any such court has been brought in an inconvenient forum. The parties agree,
to the extent permitted by law, to waive their rights to a jury trial in any proceeding arising out of this Warrant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(f)&nbsp;<U>Restrictions</U>.
The Holder acknowledges that if the Warrant Shares acquired upon the exercise of this Warrant are not registered under the Registration
Statement or another effective registration statement, and the Holder does not utilize cashless exercise, the Warrant Shares will
have restrictions upon resale imposed by state and federal securities laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(g)&nbsp;<U>Nonwaiver
and Expenses</U>. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice the Holder&rsquo;s rights, powers or remedies. Without limiting any other provision
of this Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any
material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and
expenses including, but not limited to, reasonable attorneys&rsquo; fees, including those of appellate proceedings, incurred by
the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(h)&nbsp;<U>Notices</U>.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered
to the Holder&rsquo;s address as provided in Warrant Register of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(i)&nbsp;<U>Limitation
of Liability</U>. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase
Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder
for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company
or by creditors of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(j)&nbsp;<U>Remedies</U>.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(k)&nbsp;<U>Successors
and Assigns</U>. Subject to applicable securities laws, this Warrant shall be binding upon and inure to the benefit of the parties
and their successors and permitted assigns. The provisions of this Warrant are intended to be for the benefit of any Holder from
time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(l)&nbsp;<U>Amendment</U>.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(m)&nbsp;<U>Severability</U>.
If any term, provision, covenant or restriction of this Warrant is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full
force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable best efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that
they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(n)&nbsp;<U>Headings</U>.
The headings used herein are for convenience only, do not constitute a part of this Warrant and shall not be deemed to limit or
affect any of the provisions hereof.</P>

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

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

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">IN WITNESS WHEREOF, the Company has caused
this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify"><B>APPLIED DNA SCIENCES, INC.</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify"></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">By:</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid; padding-left: 9pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 9pt; text-align: justify">Name: </TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 9pt; text-align: justify">Title: </TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[<I>Signature page to 2018 Warrant</I>]</P>

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


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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase">TO:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>APPLIED
DNA SCIENCES, INC.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned hereby elects to purchase ______ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only
if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes,
if any.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment
shall take the form of (check applicable box):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">[ ] in lawful money of the United
States; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">[ ] if permitted the cancellation
of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 1(c), to exercise this
Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth
in subsection 1(c).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please
issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 130.25pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 202.5pt; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Warrant Shares shall be delivered to
the following DWAC Account Number:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 130.25pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 202.5pt"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name of Investing Entity: __________________________________________________________</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Signature of Authorized Signatory of Investing Entity</I>:
_____________________________________</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name of Authorized Signatory: _____________________________________________________</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Title of Authorized Signatory: ______________________________________________________</P>

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

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

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


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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>(To assign the foregoing Warrant, execute
this form and supply required information. Do not use this form to purchase shares.)</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FOR VALUE RECEIVED, the foregoing Warrant
and all rights evidenced thereby are hereby assigned to</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 25%; text-align: justify">Name:</TD>
    <TD STYLE="vertical-align: top; width: 75%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">(Please Print)</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top"></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">Address:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify"></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(Please Print)</FONT></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top"></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">Phone Number:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top"></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">Email Address:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top"></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">Dated:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top"></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">Holder&rsquo;s Signature:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top"></TD>
    </TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: justify">Holder&rsquo;s Address:</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"></TD>
    </TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>4
<FILENAME>tv509599_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.1</B></P>

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

<P STYLE="margin: 0"><IMG SRC="tv509599_ex5-1img01.jpg" ALT="">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">37th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">620 Eighth Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10018-1405</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">212.808.2700</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Fax 212.286.9806</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt">December 21, 2018</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Applied DNA Sciences, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">50 Health Sciences Drive</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Stony Brook, NY 11790</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt">Re:</TD>
    <TD STYLE="font-size: 10pt"><U>Public Offering</U></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Reference is made to the Registration Statement
on Form S-3 (Registration No. 333-218158) (the &ldquo;<B><I>Registration Statement</I></B>&rdquo;), filed by Applied DNA Sciences,
Inc., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), with the U.S. Securities and Exchange Commission (the &ldquo;<B><I>Commission</I></B>&rdquo;)
and with an effectiveness date of May 26, 2017. We are rendering this opinion in connection with the prospectus supplement (the
&ldquo;<B><I>Prospectus Supplement</I></B>&rdquo;), filed with the Commission on December 21, 2018 relating to the offering by
the Company of 6,325,000 shares of the Company&rsquo;s common stock, par value $.001 per share (the &ldquo;<B><I>Common Stock</I></B>&rdquo;
and such shares of Common Stock, the &ldquo;<B><I>Shares</I></B>&rdquo;), and warrants to purchase 6,325,000 shares of Common Stock
(the &ldquo;<B><I>Warrants</I></B>&rdquo; and such shares of Common Stock underlying the Warrants, the &ldquo;<B><I>Warrant Shares</I></B>&rdquo;),
which includes 825,000 shares of Common Stock and warrants to purchase 825,000 shares of Common Stock subject to an over-allotment
option granted to Maxim Group LLC, which Shares, Warrants and Warrant Shares are covered by the Registration Statement. We understand
that the Shares, the Warrants and the Warrant Shares are to be offered and sold in the manner set forth in the Prospectus Supplement
pursuant to the Underwriting Agreement, dated as of December 21, 2018, by and between the Company and Maxim Group LLC (such agreement,
the &ldquo;<B><I>Underwriting Agreement</I></B>&rdquo;). This opinion letter is furnished to you at your request to enable you
to fulfill the requirements of Item 601(b)(5) of Regulation S-K in connection with the Registration Statement. Capitalized terms
used but not defined herein shall have the meanings given to them in the Underwriting Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">We have acted as your counsel in connection
with the preparation of the Prospectus Supplement. We are familiar with the proceedings taken by the Board of Directors and Pricing
Committee thereof of the Company (the &ldquo;<B><I>Board of Directors</I></B>&rdquo;) in connection with the authorization, issuance
and sale of the Shares, the Warrants and the Warrant Shares. We have examined all such documents as we considered necessary to
enable us to render this opinion, including, but not limited to, the Registration Statement, the prospectus included in the Registration
Statement, the Prospectus Supplement, the Underwriting Agreement, the Company&rsquo;s certificate of incorporation, as amended,
the Company&rsquo;s amended and restated bylaws, certain resolutions of the Board of Directors and Pricing Committee thereof, corporate
records and instruments, and such laws and regulations as we have deemed necessary for purposes of rendering the opinions set forth
herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&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: 6%; text-align: center"></TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 5.75pt; padding-left: 8.65pt">Philadelphia</TD>
    <TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">Boston</FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">Washington, D.C.</FONT></TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">Los Angeles</FONT></TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">New York</FONT></TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">Pittsburgh</FONT></TD>
    <TD STYLE="width: 6%; text-align: left"></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: center"></TD>
    <TD STYLE="width: 12%"><FONT STYLE="font-size: 10pt">Detroit</FONT></TD>
    <TD STYLE="width: 12%"><FONT STYLE="font-size: 10pt">Berwyn</FONT></TD>
    <TD STYLE="width: 12%; text-align: left"><FONT STYLE="font-size: 10pt">Harrisburg</FONT></TD>
    <TD STYLE="width: 14%; text-align: left"><FONT STYLE="font-size: 10pt">Orange County</FONT></TD>
    <TD STYLE="width: 12%; text-align: left"><FONT STYLE="font-size: 10pt">Princeton</FONT></TD>
    <TD STYLE="width: 12%; text-align: left"><FONT STYLE="font-size: 10pt">Silicon Valley</FONT></TD>
    <TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-size: 10pt">Wilmington</FONT></TD>
    <TD STYLE="width: 7%; text-align: left"></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><BR>
www.pepperlaw.com</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tv509599_ex5-1img02.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Applied DNA Sciences, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">December 21, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page <FONT STYLE="font-family: Times New Roman, Times, Serif">2</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">In our examination, we have assumed the legal
capacity of all natural persons, the genuineness of all signatures, the authenticity of all documents submitted to us as originals,
the conformity to original documents of all documents submitted to us as certified, conformed, photostatic or facsimile copies,
the authenticity of all documents submitted to us as certified, conformed, photostatic or facsimile copies, the authenticity of
the originals of such certified, conformed, photostatic or facsimile copies and that the Shares, the Warrants and the Warrant Shares
will be issued against payment of valid consideration under applicable law. In addition, we have assumed that the Shares, the Warrants
and the Warrant Shares will be offered in the manner and on the terms identified or referred to in the Prospectus Supplement. As
to any facts material to the opinions expressed herein, which were not independently established or verified, we have relied upon
statements and representations of officers and other representatives of the Company and others.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.4pt">We express no opinion herein as to the
law of any state or jurisdiction other than the laws of the State of Delaware, including statutory provisions and all applicable
provisions of the Delaware Constitution and reported judicial decisions interpreting such laws of the State of Delaware, and the
federal laws of the United States of America.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Based upon the foregoing, and subject to the
assumptions, limitations and qualifications stated herein, we are of the opinion that (1) the Shares have been duly authorized
and, when issued and delivered by the Company in accordance with the terms of the Underwriting Agreement and upon receipt by the
Company of the consideration therefor provided therein, will be validly issued, fully paid and non-assessable; (2) the Warrants
have been duly authorized and, when executed, registered and delivered and paid for in the manner contemplated by the Underwriting
Agreement, will constitute valid and legally binding obligations of the Company, enforceable against the Company in accordance
with their terms; and (3) the Warrant Shares have been duly authorized and, upon issuance, delivery and payment therefore upon
valid exercise of the Warrants in accordance with the terms of the Warrants, will be validly issued, fully paid and non-assessable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The opinion above with respect to the Warrants
is subject to (i) the effect of any bankruptcy, insolvency, reorganization, moratorium, arrangement or similar laws affecting the
rights and remedies of creditors&rsquo; generally, including without limitation the effect of statutory or other laws regarding
fraudulent transfers or preferential transfers, and (ii) general principles of equity, including without limitation concepts of
materiality, reasonableness, good faith and fair dealing and the possible unavailability of specific performance, injunctive relief
or other equitable remedies regardless of whether enforceability is considered in a proceeding in equity or at law.</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><IMG SRC="tv509599_ex5-1img02.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Applied DNA Sciences, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">December 21, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page <FONT STYLE="font-family: Times New Roman, Times, Serif">3</FONT></P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">We assume no obligation to supplement this
opinion if any applicable law changes after the date hereof or if we become aware of any fact that might change the opinion expressed
herein after the date hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">We hereby consent to the filing of this opinion
as a part of the Registration Statement and to the reference of our firm under the caption &ldquo;Legal Matters&rdquo; in the Prospectus
Supplement. In giving such consent, we do not hereby admit that we are in the category of persons whose consent is required under
Section 7 of the Securities Act of 1933, as amended, or the rules and regulations of the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&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: 50%"></TD>
    <TD STYLE="width: 50%">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Pepper Hamilton LLP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD>Pepper Hamilton LLP</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>5
<FILENAME>tv509599_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<HEAD>
     <TITLE></TITLE>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

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

<P STYLE="margin: 0; text-align: right"><B>&nbsp;<IMG SRC="tv509599_ex99-1img01.jpg" ALT=""></B></P>

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

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Applied DNA Announces Proposed Public
Offering of</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Common Stock and Warrants</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>STONY BROOK, N.Y</B>. &ndash; December 19, 2018 &ndash; Applied
DNA Sciences, Inc. (Nasdaq: APDN) (&ldquo;Applied DNA&rdquo; or the &quot;Company&quot;), a leader in large-scale PCR-based DNA
manufacturing, <FONT STYLE="background-color: white">announced today that it intends to offer for sale a combination of shares
of its common stock and warrants to purchase shares of its common stock in an underwritten public offering. The Company intends
to use the net proceeds from this offering for working capital, capital expenditures, business development and research and development
expenditures. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may
be completed, or as to the actual size or terms of the offering.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">Maxim Group LLC is acting
as sole underwriter and book-running manager for the offering.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">The securities described
above are being offered under the Company&rsquo;s shelf registration statement on Form S-3 (No. 333-218158), previously filed with
and declared effective by the U.S. Securities and Exchange Commission (SEC). The securities will be offered by means of a prospectus
supplement and accompanying prospectus, forming a part of the effective registration statement. The prospectus supplement and accompanying
prospectus related to the offering will be filed with the SEC and will be available on the website of the SEC at http://www.sec.gov.
Electronic copies of the prospectus supplement and accompanying prospectus also may be obtained from Maxim Group LLC, 405 Lexington
Avenue, 2nd Floor, New York, NY 10174, at 212-895-3745. Before you invest, you should read the prospectus supplement and the accompanying
prospectus in the registration statement and other documents Applied DNA has filed or will file with the SEC for more complete
information about Applied DNA and the offering.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">This press release shall
not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of
these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification
under the securities laws of any such jurisdiction.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Applied DNA Sciences</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Applied DNA is a provider of molecular technologies that enable
supply chain security, anti-counterfeiting and anti-theft technology, product genotyping and DNA mass production for diagnostics,
personalized medicine and therapeutics.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Applied DNA makes life real and safe by providing innovative,
molecular-based technology solutions and services that can help protect products, brands, entire supply chains, and intellectual
property of companies, governments and consumers from theft, counterfeiting, fraud and diversion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Visit&nbsp;<U>adnas.com</U>&nbsp;for more information. Follow
us on&nbsp;<U>Twitter</U>&nbsp;and&nbsp;<U>LinkedIn</U>. Join our&nbsp;<U>mailing list.</U></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The statements made by Applied DNA in this press release may
be &quot;forward-looking&quot; in nature within the meaning of the Private Securities Litigation Act of 1995. Forward-looking statements
describe Applied DNA's future plans, projections, strategies and expectations, and are based on assumptions and involve a number
of risks and uncertainties, many of which are beyond the control of Applied DNA including the substantial doubt relating to the
Company&rsquo;s ability to continue as a going concern. Actual results could differ materially from those projected due to its
history of net losses, limited financial resources, limited market acceptance, the uncertainties inherent in research and development,
future clinical data and analysis, including whether any of Applied DNA&rsquo;s product candidates will advance further in preclinical
research or clinical trial process, including receiving clearance from the U.S. Food and Drug Administration or equivalent foreign
regulatory agencies to conduct clinical trials and whether and when, if at all, they will receive final approval from the U.S.
FDA or equivalent foreign regulatory agencies, <FONT STYLE="background-color: white">shifting enforcement priorities of US federal
laws relating to cannabis</FONT>, and various other factors detailed from time to time in Applied DNA's SEC reports and filings,
including our Annual Report on Form 10-K filed on December 18, 2018 and other reports we file with the SEC, which are available
at&nbsp;www.sec.gov. Applied DNA undertakes no obligation to update publicly any forward-looking statements to reflect new information,
events or circumstances after the date hereof to reflect the occurrence of unanticipated&nbsp;events, unless otherwise required
by law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investor contact: </B>Sanjay M. Hurry, 212-838-3777, LHA
Investor Relations, <B>shurry@lhai.com</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Web:</B> www.adnas.com</P>

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

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



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

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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>6
<FILENAME>tv509599_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<HTML>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="margin: 0; text-align: right"><FONT STYLE="color: Black"><B>Exhibit 99.2</B></FONT></P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt; color: Black"><B>&nbsp;</B></FONT><FONT STYLE="color: Black"><IMG SRC="tv509599_ex99-2img01.jpg" ALT=""></FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; color: Black">&nbsp;</FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>Applied
                                         DNA Announces Pricing of $2.75 Million Offering of Common Stock and Warrants</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>STONY BROOK, N.Y</B>. &ndash;
December 21, 2018 &ndash; Applied DNA Sciences, Inc. (NASDAQ: APDN) (&ldquo;Applied DNA&rdquo; or the &quot;Company&quot;), a
leader in large-scale PCR-based DNA manufacturing, <FONT STYLE="background-color: white">announced today the pricing of an underwritten
public offering of 5,500,000 shares of its common stock and warrants to purchase up to an aggregate of 5,500,000 shares of the
Company&rsquo;s common stock. Each share of common stock and each warrant to purchase one share of common stock is being sold
at a combined effective price to the public of $0.50. </FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black; background-color: white">Gross proceeds,
before underwriting discounts and commissions and estimated offering costs, are expected to be approximately $2.75 million. Applied
DNA has granted the underwriter an over-allotment option, exercisable for a period of 45 days, to purchase up to 825,000 additional
shares of its common stock and/or 825,000 warrants to purchase common stock at the public offering price less discounts and commissions.
The offering is expected to close on or about December 26, 2018, subject to satisfaction of customary closing conditions.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black; background-color: white">The warrants
will be exercisable immediately at an exercise price of $0.50 per share and will expire five years from the date of issuance.
The warrants include an adjustment provision that, subject to certain exceptions, reduces their exercise price if the Company
issues common stock or common stock equivalents at a price lower than the then-current exercise price of the warrants, subject
to a minimum exercise price of $0.14 per share.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black; background-color: white">Applied
DNA intends to use the net proceeds from this offering for working capital, capital expenditures, business development and research
and development expenditures.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black; background-color: white">Maxim Group
LLC is acting as sole book-running manager for the offering.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black; background-color: white">The securities
described above are being offered under the Company&rsquo;s shelf registration statement on Form S-3 (No. 333-218158), previously
filed with and declared effective by the U.S. Securities and Exchange Commission (SEC). The securities were offered by means of
a preliminary prospectus supplement and accompanying prospectus, forming a part of the effective registration statement. The final
prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC and will be available on
the website of the SEC at http://www.sec.gov. Electronic copies of the prospectus supplement and accompanying prospectus also
may be obtained from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at 212-895-3745. Before you invest,
you should read the prospectus supplement and the accompanying prospectus in the registration statement and other documents Applied
DNA has filed or will file with the SEC for more complete information about Applied DNA and the offering.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black; background-color: white">This press
release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any
offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such jurisdiction.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>About Applied DNA Sciences</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">Applied DNA is a provider of molecular
technologies that enable supply chain security, anti-counterfeiting and anti-theft technology, product genotyping and DNA mass
production for diagnostics, personalized medicine and therapeutics.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">Applied DNA makes life real and
safe by providing innovative, molecular-based technology solutions and services that can help protect products, brands, entire
supply chains, and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion.</FONT></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Forward Looking Statements</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">The statements made by Applied DNA
in this press release may be &quot;forward-looking&quot; in nature within the meaning of the Private Securities Litigation Act
of 1995. Forward-looking statements describe Applied DNA's future plans, projections, strategies and expectations, and are based
on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Applied DNA including
the substantial doubt relating to the Company&rsquo;s ability to continue as a going concern. Actual results could differ materially
from those projected due to its history of net losses, limited financial resources, limited market acceptance, the uncertainties
inherent in research and development, future clinical data and analysis, including whether any of Applied DNA&rsquo;s product
candidates will advance further in preclinical research or clinical trial process, including receiving clearance from the U.S.
Food and Drug Administration or equivalent foreign regulatory agencies to conduct clinical trials and whether and when, if at
all, they will receive final approval from the U.S. FDA or equivalent foreign regulatory agencies, shifting enforcement priorities
of US federal laws relating to cannabis, and various other factors detailed from time to time in Applied DNA's SEC reports and
filings, including our Annual Report on Form 10-K filed on December 18, 2018 and other reports we file with the SEC, which are
available at www.sec.gov. Applied DNA undertakes no obligation to update publicly any forward-looking statements to reflect new
information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events, unless otherwise
required by law.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #0070C0"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #0070C0"><FONT STYLE="color: Black"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Investor contact: </B>Sanjay
M. Hurry, 212-838-3777, LHA Investor Relations, <B>shurry@lhai.com</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Web:</B> www.adnas.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Twitter: </B>@APDN</FONT></P>

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

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

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