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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>As filed with
the Securities and Exchange Commission on June 13, 2022</B></P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right">Registration No. 333-</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM S-1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933</B></P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>LeeWay
Services, Inc.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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>
    <TD STYLE="vertical-align: top; width: 30%; border-bottom: black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Nevada</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 5%; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 30%; border-bottom: black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>4213</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 5%; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 30%; border-bottom: black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>87-3033814</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or Other Jurisdiction of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Incorporation or Organization)</P></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Primary Standard Industrial</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Classification Code Number)</P></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(I.R.S. Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2150 South 1300 East, Suite 360</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Salt Lake City, UT 84106</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>385-715-7200</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address, including zip code, and telephone
number, including area code,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">of registrant&rsquo;s principal executive offices)</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2150 South 1300 East, Suite 360</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Salt Lake City, UT 84106</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>385-715-7200</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name, address, including zip code, and telephone
number, including area code, of agent for service)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>Copies to</U>:</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%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Ross D. Carmel, Esq.</B></FONT></TD>
    <TD STYLE="width: 50%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Louis A. Bevilacqua, Esq.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Jeffrey P. Wofford, Esq.</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Bevilacqua PLLC</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Carmel, Milazzo &amp; Feil LLP</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>1020 Connecticut Ave., NW, Ste. 500</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>55 West 39<SUP>th</SUP> Street, New York, NY 10018</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Washington, DC 20036</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Telephone: (212) 658-0458</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Telephone: (202) 869-0888 </B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Approximate date of commencement of proposed
sale to the public: <B>As soon as practicable after the effective date of this Registration Statement.</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If any of the securities being registered on
this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following
box.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If this Form is filed to register additional
securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities
Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If this Form is a post-effective amendment
filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If this Form is a post-effective amendment
filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions
of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2
of the Exchange Act.</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%"><FONT STYLE="font-size: 10pt">Large accelerated filer </FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 40%"><FONT STYLE="font-size: 10pt">Accelerated filer </FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Non-accelerated filer </FONT></TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Smaller reporting company </FONT></TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Emerging growth company</FONT></TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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 to Section 7(a)(2)(B) of the Securities Act.&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>The Registrant hereby amends this Registration
Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file&nbsp;a further
amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section
8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the Commission acting
pursuant to said Section 8(a), may determine.</B>&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: #D2232A"><B>The information
contained in this preliminary prospectus is not complete and may be changed. These securities may not be sold until the registration
statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell
these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.</B></FONT></P>

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

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    <TD STYLE="width: 40%; text-align: justify"><FONT STYLE="font-size: 10pt; color: #D2232A"><B>PRELIMINARY PROSPECTUS</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; text-align: justify"><FONT STYLE="color: #D2232A">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%; text-align: justify"><FONT STYLE="font-size: 10pt; color: #D2232A"><B>SUBJECT TO COMPLETION</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; text-align: justify"><FONT STYLE="color: #D2232A">&nbsp;</FONT></TD>
    <TD STYLE="width: 28%; text-align: right"><FONT STYLE="font-size: 10pt; color: #D2232A"><B>DATED June 13, 2022</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 14pt"><B>Shares</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: left"><FONT STYLE="font-size: 14pt"><B>Common
Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B><IMG SRC="cm102_img02.jpg" ALT="">&nbsp;</B></P>

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

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0"><B>LeeWay Services, Inc.</B>&nbsp;</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This is a firm commitment initial public offering
of shares of common stock of LeeWay Services, Inc. Prior to this offering, there has been no public market for our common stock.
We anticipate that the initial public offering price will be between $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have applied to have our common stock listed on the Nasdaq
Capital Market under the symbol &ldquo;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &rdquo;,
which listing is a condition to this offering.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Upon the completion of this offering, W.L.P. Corporation will
beneficially own voting stock that provides it with approximately &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%
of the voting power of our voting stock (approximately &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%
if the over-allotment option is exercised) and we will be a &ldquo;controlled company&rdquo; within the meaning of the listing
rules of the Nasdaq Capital Market.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are an &ldquo;emerging growth company&rdquo;
as that term is used in the Jumpstart Our Business Startups Act of 2012, and we have elected to comply with certain reduced public
company reporting requirements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Investing in our common stock involves a high
degree of risk. See &ldquo;Risk Factors&rdquo; beginning on page 10.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Neither the Securities and Exchange Commission nor any state
securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete.
Any representation to the contrary is a criminal offense.</B></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Per Share</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: left">Initial public offering price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Underwriting discounts and commissions<SUP>(1)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Proceeds to us, before expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Underwriting discounts and commissions do not include a non-accountable expense allowance equal to 1.0% of the initial public offering price payable to the underwriters. See &ldquo;<I>Underwriting</I>&rdquo; beginning on page 58 of this prospectus for additional information regarding underwriting compensation.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have granted a 45-day option to the representative
of the underwriters to purchase up to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;additional shares of common
stock solely to cover over-allotments, if any.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The underwriters expect to deliver the shares
to purchasers on or about&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2022.</P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>ThinkEquity</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">The date of this prospectus is&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2022</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><I>Measurement period
of the above references is for the years 2017 through 2021.</I></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 90%"><A HREF="#a_001"><FONT STYLE="font-size: 10pt">MARKET DATA</FONT></A></TD>
    <TD STYLE="width: 10%; text-align: center"><A HREF="#a_001"><FONT STYLE="font-size: 10pt">i</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_002"><FONT STYLE="font-size: 10pt">PROSPECTUS SUMMARY</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_002"><FONT STYLE="font-size: 10pt">1</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_003"><FONT STYLE="font-size: 10pt">SUMMARY OF THE OFFERING</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_003"><FONT STYLE="font-size: 10pt">8</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_004"><FONT STYLE="font-size: 10pt">RISK FACTORS</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_004"><FONT STYLE="font-size: 10pt">10</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_005"><FONT STYLE="font-size: 10pt">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_005"><FONT STYLE="font-size: 10pt">28</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_006"><FONT STYLE="font-size: 10pt">USE OF PROCEEDS</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_006"><FONT STYLE="font-size: 10pt">29</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_007"><FONT STYLE="font-size: 10pt">DIVIDEND POLICY</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_007"><FONT STYLE="font-size: 10pt">29</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_008"><FONT STYLE="font-size: 10pt">CAPITALIZATION</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_008"><FONT STYLE="font-size: 10pt">30</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_009"><FONT STYLE="font-size: 10pt">DILUTION</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_009"><FONT STYLE="font-size: 10pt">30</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_010"><FONT STYLE="font-size: 10pt">MANAGEMENT&rsquo;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_010"><FONT STYLE="font-size: 10pt">31</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_011"><FONT STYLE="font-size: 10pt">BUSINESS</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_011"><FONT STYLE="font-size: 10pt">44</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_012"><FONT STYLE="font-size: 10pt">MANAGEMENT</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_012"><FONT STYLE="font-size: 10pt">57</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_013"><FONT STYLE="font-size: 10pt">EXECUTIVE COMPENSATION</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_013"><FONT STYLE="font-size: 10pt">62</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_014"><FONT STYLE="font-size: 10pt">PRINCIPAL STOCKHOLDERS</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_014"><FONT STYLE="font-size: 10pt">62</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_015"><FONT STYLE="font-size: 10pt">CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_015"><FONT STYLE="font-size: 10pt">63</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_016"><FONT STYLE="font-size: 10pt">DESCRIPTION OF SECURITIES</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_016"><FONT STYLE="font-size: 10pt">64</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_017"><FONT STYLE="font-size: 10pt; text-transform: uppercase">Shares Eligible for Future Sale</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_017"><FONT STYLE="font-size: 10pt">66</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_018"><FONT STYLE="font-size: 10pt; text-transform: uppercase">MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS FOR NON-U.S. HOLDERS</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_018"><FONT STYLE="font-size: 10pt">68</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_019"><FONT STYLE="font-size: 10pt">UNDERWRITING</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_019"><FONT STYLE="font-size: 10pt">71</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_020"><FONT STYLE="font-size: 10pt">LEGAL MATTERS</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_020"><FONT STYLE="font-size: 10pt">78</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_021"><FONT STYLE="font-size: 10pt">EXPERTS</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_021"><FONT STYLE="font-size: 10pt">78</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><A HREF="#a_022"><FONT STYLE="font-size: 10pt">WHERE YOU CAN FIND MORE INFORMATION</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_022"><FONT STYLE="font-size: 10pt">78</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#indexto"><FONT STYLE="font-size: 10pt">INDEX TO FINANCIAL STATEMENTS</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#indexto"><FONT STYLE="font-size: 10pt">F-1</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Through and including&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2022 (the 25th day
after the date of this prospectus), all dealers that effect transactions in these securities, whether or not participating in this
offering, may be required to deliver a prospectus. This is in addition to the dealers&rsquo; obligation to deliver a prospectus
when acting as underwriter and with respect to their unsold allotments or subscriptions.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">You should rely only on the information contained
in this prospectus or any prospectus supplement or amendment. Neither we, nor the underwriters, have authorized any other person
to provide you with information that is different from, or adds to, that contained in this prospectus. If anyone provides you with
different or inconsistent information, you should not rely on it. Neither we nor the underwriters take responsibility for and can
provide no assurance as to the reliability of, any other information that others may give you. You should assume that the information
contained in this prospectus or any free writing prospectus is accurate only as of the date of this prospectus, regardless of the
time of delivery of this prospectus or of any sale of our common stock. Our business, financial condition, results of operations
and prospects may have changed since that date. We are not making an offer of any securities in any jurisdiction in which such
offer is unlawful.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">No action is being taken in any jurisdiction
outside the United States to permit a public offering of our common stock or possession or distribution of this prospectus in that
jurisdiction. Persons who come into possession of this prospectus in jurisdictions outside the United States are required to inform
themselves about and to observe any restrictions as to this public offering and the distribution of this prospectus applicable
to that jurisdiction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_001"></A>Market
Data</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Market data and certain industry data and forecasts
used throughout this prospectus were obtained from internal company surveys, market research, consultant surveys, publicly available
information, reports of governmental agencies and industry publications and surveys. Industry surveys, publications, consultant
surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable,
but the accuracy and completeness of such information is not guaranteed. To our knowledge, certain third-party industry data that
includes projections for future periods does not take into account the effects of the worldwide coronavirus pandemic. Accordingly,
those third-party projections may be overstated and should not be given undue weight. We have not independently verified any of
the data from third party sources, nor have we ascertained the underlying economic assumptions relied upon therein. Similarly,
internal surveys, industry forecasts and market research, which we believe to be reliable based on our management&rsquo;s knowledge
of the industry, have not been independently verified. Forecasts are particularly likely to be inaccurate, especially over long
periods of time. In addition, we do not necessarily know what assumptions regarding general economic growth were used in preparing
the forecasts we cite. Statements as to our market position are based on the most currently available data. While we are not aware
of any misstatements regarding the industry data presented in this prospectus, our estimates involve risks and uncertainties and
are subject to change based on various factors, including those discussed under the heading &ldquo;<I>Risk Factors</I>&rdquo; in
this prospectus.</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_002"></A>PROSPECTUS
SUMMARY</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>This summary provides a brief overview of
the key aspects of our business and our securities. You should read this entire prospectus carefully, including the section titled
&ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations,&rdquo; and our combined financial
statements and the related notes included elsewhere in this prospectus, before making an investment decision. Furthermore, you
should read carefully the risks of investing in our common stock discussed under the section titled &ldquo;Risk Factors.&rdquo;
Some of the statements contained in this prospectus, including statements under &ldquo;Summary&rdquo; and &ldquo;Risk Factors&rdquo;
as well as those noted in the documents incorporated herein by reference, are forward-looking statements and may involve a number
of risks and uncertainties. Our actual results and future events may differ significantly based upon a number of factors. The reader
should not put undue reliance on the forward-looking statements in this document, which speak only as of the date on the cover
of this prospectus. </I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Unless the context otherwise requires, references
in this prospectus to &ldquo;LeeWay,&rdquo; &ldquo;LeeWay Services,&rdquo; the &ldquo;Company,&rdquo; &ldquo;our Company,&rdquo;
the &ldquo;registrant,&rdquo; &ldquo;we,&rdquo; &ldquo;us&rdquo; and &ldquo;our&rdquo; refer to LeeWay Services, Inc. and its subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Our
Company</B></FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We operate a freight brokerage and transportation
business, providing comprehensive transportation management solutions for shippers and carriers.&nbsp;Established in the early
1980s and headquartered in Salt Lake City, Utah, we deliver a one-stop freight management platform that connects shippers with
truckers to facilitate shipments across distance ranges, cargo weights, and types. We deliver value-driven logistics solutions
powered by effective technology and distinguished by personalized service built on solid relationships. We are building a next-generation
digital freight platform that we believe will transform the highly fragmented $1 trillion transportation and logistics sector.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Logistics is the lifeblood of our economy,
powering the movement of goods and connecting the engines of production and consumption. We aspire to revolutionize logistics,
improve efficiency across the value and supply chain and reduce the carbon footprint for our planet. Our goal is to leverage technology
to eliminate inefficiencies and create economic opportunity across the freight ecosystem. Our team is comprised of innovators seeking
to build the best products for all parties in the freight industry and to provide shippers and carriers with unparalleled transparency.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We also began operating a specialty financial
services business in 2019 that we believe will become a next-generation, end-to-end cloud-based financing platform for small and
medium sized companies primarily in the e-commerce marketplace. &nbsp;By combining industry-leading technology and security with
the expertise and care of our team, we serve e-commerce business owners nationwide with efficiency, simplicity, transparency and
reliability by providing alternative financial products to help them grow. This same technology will also allow our freight brokerage
to offer quick pay and factoring services to their carrier and shippers, all with a one-click, simple process.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are also in the process of developing proprietary
mobile applications and other transportation financial products which can be used by shippers, carriers and other freight brokers.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Total revenue for the three months ended
March 31, 2022 was $12,233,724, an increase of $7,644,643 over total revenue of $4,589,081 realized for the same period in 2021.
Net income for the three months ended March 31, 2022 was $900,385 compared to $47,074 for the same period in 2021, an increase
of $843,311. Revenue from freight brokerage accounted for 98.72% of the 2022 revenue compared to 97.00% of total revenue for the
comparable 2021 period.</P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our total revenues increased by $13,985,964,
or 101%, to $27,897,504 for the year ended December 31, 2021 compared to the year ended December 31, 2020; and by $5,642,312, or
68% to $13,911,540 for the year ended December 31, 2020, compared to $8,269,228 in revenue for the year ended December 31, 2019.
Our net income increased by $898,843, or 1,534%, to $957,421 for the year ended December 31, 2021 compared to the year ended December
31, 2020; and by $289,958, or 225% to $58,578 for the year ended December 31, 2020, compared to a $231,380 net loss for the year
ended December 31, 2019. Our freight brokerage and transportation business accounted for approximately 97.92% and 96.83% of our
revenues for the years ended December 31, 2021 and 2020, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Our Corporate History and Structure</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Company was incorporated in Nevada
on October 12, 2021, for the purpose of being the over-arching holding Company for our two business segments. W.L.P. Corporation,
a Utah corporation (&ldquo;WLP&rdquo;), is the 100% owner of our Company. WLP is beneficially owned by family members of S. Whitfield
Lee, our Chairman of the Board, Chief Executive Officer and President. The WLP Board of Directors is comprised of Chris Von Maack,
Jon Davies, the sons-in-law of S. Whitfield Lee, and Whitfield Lee, the son of S. Whitfield Lee.</P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our freight brokerage and logistics business
is operated through our wholly owned subsidiary, LeeWay Transportation, Inc. (&ldquo;LeeWay Transportation&rdquo;). Our specialty
financial services business is operated through our wholly owned subsidiary, LeeWay Capital, Inc. (&ldquo;LeeWay Capital&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Previously, WLP was the 100% direct owner of
our freight and logistics companies: LeeWay Transportation, LeeWay Freight, LeeWay Logistics and one of our specialty financial
services companies: eCommerce Financing. WLP Capital Inc., a Nevada corporation (&ldquo;WLP Capital&rdquo;), and a wholly owned
subsidiary of WLP, previously owned 100% of the shares of LeeWay Capital.</P>

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

</DIV>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2021, we completed a corporate
reorganization. In connection with this reorganization, WLP transferred its 100% ownership in LeeWay Logistics and LeeWay Freight
to LeeWay Transportation pursuant to a share transfer agreement. As a result, LeeWay Transportation, while remaining a wholly owned
subsidiary of WLP, became the holding company for our freight brokerage and logistics business. LeeWay Capital became the holding
company for our recently started specialty financial services business by WLP transferring its 100% membership interest in eCommerce
Financing to LeeWay Capital, which was already the sole owner of eCommerce Funding. We became the holding company for LeeWay Transportation
and LeeWay Capital through a capital contribution from WLP of 100% of its equity in LeeWay Transportation and LeeWay Capital in
exchange for 30,000,000 shares of our common stock and 2,000 shares of our Series X Super Voting Preferred Stock (&ldquo;Super
Voting Preferred Stock&rdquo;), each share of which shall automatically convert into one share of the common stock of the Company
on the date the common stock of the Company is first listed on any nationally recognized stock exchange.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We provide comprehensive transportation management
solutions for shippers and carriers.&nbsp;We are also in the process of developing proprietary applications and integrating already
developed TMS applications (which tracks driver&rsquo;s hours driven in compliance with US Department of Transportation regulations)
as a part of the developing digital freight brokerage market. &nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We match shipper loads with carrier capacity,
which is primarily provided by small carriers and independent owner operators. The loads are primarily full truckload and often
need specialized trailers such as refrigeration or flatbeds in addition to dry vans. We use available transportation management
systems, which technology increases our ability to provide service. Service to the shipper and information to both the carrier
and the shipper is a major focus for the Company. Approximately 97% of carriers in the U.S. operate twenty or fewer trucks, with
90% of those operating with six or fewer trucks<SUP>1</SUP>. Good freight brokers are important to these carriers as a carrier
partner in getting their loads. We are working to develop proprietary transportation technology as a new crop of digital freight
matching platforms have begun to emerge over the past few years. Frost &amp; Sullivan refers to this digital brokerage s trucking-as-a-service
or TaaS. This technology will provide&nbsp;the ability for the carriers to use mobile technology to increase service, visibility,
signature verification and provide instant account payable settlement, quick or instant pay, to the carrier.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We also operate a next-generation, end-to-end
cloud-based financing platform for small and medium sized companies primarily in the e-commerce marketplace. &nbsp;By combining
industry-leading technology and security with the expertise and care of our team, we serve e-commerce business owners nationwide
with efficiency, simplicity, transparency and reliability by providing alternative financial products to help them grow. We are
also in the process of developing proprietary mobile apps and other transportation financial products which can be used by shippers,
carriers and other freight brokers. &nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are a one-stop-shop for financial services
that allows ecommerce sellers access to business capital and financing. Our mission is to transform the way business lending works
in the ecommerce industry by making it efficient and convenient for e-tailers to access capital. Enabled by our proprietary technology
and analytics, we aggregate and analyze thousands of data points to assess the creditworthiness of ecommerce sellers rapidly and
accurately. We have developed financial products that offer the speed, convenience, and accessibility that only an integrated digital
platform can provide.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The freight brokerage industry market in the
US is estimated to be approximately $156 billion for 2022 with an estimated growth rate of 7.9%<SUP>2</SUP>. Freight brokerage
is a variable cost industry that facilitates the movement of freight by matching shippers&rsquo; loads to third-party carriers.
The truckload share captured by brokers has been increasing over the last several years and it is estimated to continue to grow
by 7% annually for the next 5 years<SUP>3</SUP>.&nbsp;The US freight brokerage market is moderately fragmented in nature with
the presence of large regional players, global players and small and medium sized local players with a few players in the market.&nbsp;Most
freight brokerage operations are small to medium sized, and there are approximately 17,000 truck brokers operating in the US<SUP>4</SUP>.&nbsp;
Market share concentration in the industry is increasing due to merger and acquisition activity. Additionally, barriers to entry
have been growing as digital technology is increasingly becoming more important as well as the need of capital to acquire trailer
pools for certain customers. These could be a differentiation factor for shippers and carriers.&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><SUP>1 </SUP>https://www.truckinfo.net/research/trucking-statistics</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><SUP>2 </SUP>https://www.ibisworld.com/industry-statistics/market-size/freight-forwarding-brokerages-agencies-united-states/#:~:text=The%20market%20size%2C%20measured%20by,is%20%24156.7bn%20in%202022.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><SUP>3 </SUP>https://s29755.pcdn.co/wp-content/uploads/2020/03/Freight-Broker-Performance-Across-the-Cycle-October-2019-4.pdf</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><SUP>4 </SUP>https://front.com/blog/freight-broker-success-stories</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our people and value-added services play an
important role in increasing our client and customer retention. We will continue to increase the competitiveness of our existing
offerings by leveraging our data and growing our network of carriers and shippers. We also plan to expand our value-added service
offerings to better address and meet the needs of our clients. For example, we are working with LeeWay Capital to develop proprietary
transportation technology to allow the offering of quick pay and factoring to our carriers. We believe the following strengths
help in the development of digital freight marketplaces and to build a network-based business model:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Experienced Management Team</U></I>. Our management team has strategic and deep operational experience with demonstrated success in building freight brokerage companies.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Carrier and Shipper Partnerships</U></I>. Our value-led strategy has enabled us to establish strong relationships with carriers across the country. While we work with carriers of all sizes, we focus on small to mid-size carriers. This carrier network, combined with our data and technology, allows us to offer shippers an enterprise-grade offering as we match shipments at scale across a nationwide network of dependable carriers.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><I><U>Proven,
                                         Strong, and Disciplined Growth</U></I>. We have proven our ability to grow both revenue
                                         and gross margin throughout a variety of challenging market environments. Our convincing
                                         performance proved the resiliency of our business model in 2020 and 2021 when we grew
                                         revenue by 68% for the year ended December 31, 2020 and 101% for the year ended December
                                         31, 2021, despite the market challenges presented by supply side problems and COVID-19.
                                         The upward momentum continued into 2022, where revenue increased by 167% over the three
                                         months in 2021. We believe we are well positioned to continue this vigorous growth into
                                         the future, given the robust demand in the market and our deepening relationships with
                                         new and existing shippers.</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We believe two key competitive strengths will
continue to drive the success of our financial services business in the future:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Technology</U></I><U>. </U>Our platform aggregates and analyzes thousands of data points from dynamic, unique data sources, and the relationships among those attributes. This allows us to rapidly and accurately assess the growth prospects and cash flow consistency of each small business. Our credit decision system effectively eliminates human bias and failure in the decision-making process. The process and technological touchpoints are user-friendly, providing a fast, simple, and accurate user experience.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Scalability</U></I>. As revenue increases, our profitability and marketing budget will increase proportionally. This scaled marketing budget will allow us to continue to expand our brand reputation and recognition throughout the ecommerce community and online marketplaces. We can scale our business operations and services efficiently and effectively, given the automated nature of our Company and its technological capabilities. Additionally, ecommerce sellers that historically could not get funding from a traditional source can now scale their business, thanks to e-Commerce Seller Financing LLC. This symbiosis would provide greater opportunity throughout the marketplace not only for sellers, but ultimately for end-users, capitalizing on growth opportunities.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We plan to continue to offer the best service
and information available to our customers and carriers to build our core carrier network and our strategic client partnerships.
As we continue the development of our digital freight brokerage platform, we expect to source better rates, provide high-quality
service, and ensure predictable supply. This includes document control and document tracking from pickup to delivery, instant verification
of delivery, agreed-upon rates, and independent load boards. We will also be able to quickly establish shipper and carrier compliance
with the Department of Transportation and carrier safety record by utilizing API technology. Employing blockchain where possible
will facilitate a detailed record of every load and signature authentication. The technology will enable our growth to be scaled
in a highly efficient and effective manner.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We aim to attract shippers and truckers to
our platform through a combination of online and offline channels to grow our logistics network. We also plan to proactively gain
new shippers and truckers through our operations team, using their proven experience and expertise in the logistics industry to
rapidly scale products, features and sales as well as to provide support for shippers and truckers. By further refining our user
experience, we also aim to organically grow through word-of-mouth referrals. We will continue to enhance our freight matching services
and personalize our user experience, services, and operations based on the needs and preferences of each shipper and trucker. This
includes further standardizing order information and transaction processes and more precise profiling of shippers and truckers,
which is expected to enable more efficient freight matching. We anticipate that better user experience will drive shippers&rsquo;
and truckers&rsquo; engagement and increase their usage of more transactions and services on our platform. The key elements to
our strategy include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt; text-align: justify; text-indent: -13.5pt">&nbsp;</P>
</DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Grow our logistics network</U></I>. We will strive to continue to build our core carrier network and our strategic client partnerships to drive network effects that both attract new carriers and shippers and retain them as long-term clients. Specifically, as we add more core carriers to our network, we expect to source better rates, provide higher-quality service, and ensure predictable supply. As the quality of the network increases, we expect to attract shippers with a consistent volume that is accurately matched to the business that carriers want.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt; text-align: justify; text-indent: -13.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Continue to invest in infrastructure and automation</U></I>. We will continue to invest in infrastructure development and technology to drive the logistics industry&rsquo;s development forward. We expect to make significant investments into further developing our abilities with respect to carrier payments, artificial intelligence, and data analytics in order to cater to a holistic set of shipper and trucker needs, creating value for them and thus enhancing our client retention.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt; text-align: justify; text-indent: -13.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Pursue strategic alliances, investments and acquisitions</U>.</I> We intend to pursue strategic alliances, investments and acquisitions that can enhance our market position, improve our core platform capabilities, broaden our service offerings, and strengthen our data and technology capabilities.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt; text-align: justify; text-indent: -13.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">With respect to our financial services business,
our objective is to obtain a significant market share amongst online ecommerce companies that are looking to utilize financing
to sustain and grow their online ecommerce business. The key elements to our strategy include:&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Build client loyalty</U></I>. We center our strategy around building trust and a lifetime relationship with our clients, which we believe will help build a sustainable competitive advantage. In order to deliver on our strategy, we must develop best-in-class unit economics and best-in-class products that build trust and reliability between our clients and our platform. We believe that will lead to us having a higher likelihood that they will continue to utilize our services to meet their financial needs in the future. This would result in delivering more revenue per client without incurring additional member acquisition costs, resulting in higher lifetime value per client.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Further invest and develop our technology platform</U></I>.&nbsp;&nbsp; We are still at the beginning of our product roadmap and plan to continue to innovate and bring new financial products to market.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Increase the number of our partnerships</U></I>.&nbsp;&nbsp; We believe we have the opportunity to significantly increase the number of integrated third-party partnerships on our network through both our dedicated sales team and B2B marketing efforts. Additionally, direct API integration means bringing on new partners is a seamless process.&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Expand to new ecommerce marketplaces</U></I>.&nbsp;&nbsp; We will continue to evaluate expanding our platform to new ecommerce markets. Merchants everywhere can benefit from a more transparent and fair way to acquire business capital, and we see an opportunity to generate value in many new markets through our platform.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have proven our ability to grow both
revenue and gross margin throughout a variety of challenging market environments. Our convincing performance proved the resiliency
of our business model in 2020 and 2021 when we grew revenue by 68% for the year ended December 31, 2020 and 101% for the year ended
December 31, 2021, despite the market challenges presented by supply side problems and COVID-19. Revenue continued its rapid growth
in 2022, with revenue for the first three months of 2022 being 166% higher than the revenue for the first three months in 2021.
We believe we are well positioned to continue this vigorous growth into the future, given the robust demand in the market and our
deepening relationships with new and existing shippers.</P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Although it is difficult to predict the effect
and ultimate impact of the COVID-19 pandemic on our business, the impact of COVID19 could adversely affect our results of operations,
financial condition and cash flows in fiscal year 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>
</DIV>
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<DIV STYLE="padding: 5pt; border: Black 1pt solid">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0">WLP, is currently the beneficial owner of 100% of our voting stock.
Upon the closing of this offering, WLP will own approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%
of the voting power of our outstanding voting stock (approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%
if the over-allotment is exercised in full). We currently meet the definition of a &ldquo;controlled company&rdquo; under the corporate
governance standards for&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
listed companies and for so long as we remain a controlled company under this definition, we are eligible to utilize certain exemptions
from the corporate governance requirements of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As long as our officers and directors, either
individually or in the aggregate, own at least 50% of the voting power of our Company, we are a &ldquo;controlled company&rdquo;
as defined under&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rules.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For so as we are a controlled company under
that definition, we are permitted to rely on certain exemptions from corporate governance rules, including:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">an exemption from the rule that a majority of our board of directors must be independent directors;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">an exemption from the rule that the compensation of our chief executive officer must be determined or recommended solely by independent directors; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">an exemption from the rule that our director nominees must be selected or recommended solely by independent directors.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Although we do not intend to rely on the &ldquo;controlled
company&rdquo; exemption under the Nasdaq
listing rules, we could elect to rely on this exemption in the future. If we elect to rely on the &ldquo;controlled company&rdquo;
exemption, a majority of the members of our board of directors might not be independent directors and our nominating and corporate
governance and compensation committees might not consist entirely of independent directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result, you will not have the same protection
afforded to shareholders of companies that are subject to these corporate governance requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
</DIV>
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<DIV STYLE="padding: 5pt; border: Black 1pt solid">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Implications of Being an Emerging Growth
Company </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are an &ldquo;emerging growth company,&rdquo;
as defined in the Jumpstart Our Business Startups Act of 2012 (the &ldquo;JOBS Act&rdquo;). We will remain an emerging growth company
until the earlier of (i) the last day of the fiscal year following the fifth anniversary of the date of the first sale of our common
stock pursuant to an effective registration statement under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;);
(ii) the last day of the fiscal year in which we have total annual gross revenues of $1.07 billion or more; (iii) the date on which
we have issued more than $1 billion in nonconvertible debt during the previous three years; or (iv) the date on which we are deemed
to be a large accelerated filer under applicable SEC rules. We expect that we will remain an emerging growth company for the foreseeable
future but cannot retain our emerging growth company status indefinitely and will no longer qualify as an emerging growth company
on or before the last day of the fiscal year following the fifth anniversary of the date of the first sale of our common stock
pursuant to an effective registration statement under the Securities Act. For so long as we remain an emerging growth company,
we are permitted and intend to rely on exemptions from specified disclosure requirements that are applicable to other public companies
that are not emerging growth companies.</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; width: 0.25in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">being permitted to provide only two years of audited financial statements, in addition to any required unaudited interim financial statements, with correspondingly reduced &ldquo;<I>Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</I>&rdquo; disclosure;</FONT></TD></TR>
<TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">not being required to comply with the requirement of auditor attestation of our internal controls over financial reporting;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; width: .25in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">not being required to comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor&rsquo;s report providing additional information about the audit and the financial statements;</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">reduced disclosure obligations regarding executive compensation; and</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">not being required to hold a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have taken advantage of certain reduced
reporting requirements in this prospectus. Accordingly, the information contained herein may be different than the information
you receive from other public companies in which you hold stock.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An emerging growth company can also take
advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised
accounting standards. This allows an emerging growth company to delay the adoption of certain accounting standards until those
standards would otherwise apply to private companies. We have irrevocably elected not to avail ourselves of this extended transition
period and, as a result, we will be required to adopt new or revised accounting standards on the dates on which adoption of such
standards is required for other public reporting companies.</P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are also a &ldquo;smaller reporting company&rdquo;
as defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), and have elected
to take advantage of certain of the scaled disclosure available for smaller reporting companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
</DIV>
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<DIV STYLE="padding: 5pt; border: Black 1pt solid">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our principal executive offices are located
at 2150 South 1300 East, Suite 360, Salt Lake City, UT 84106. Our website address is leewayservices.com. The information included
on our website is not part of this prospectus.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our business is subject to a number of risks.
You should be aware of these risks before making an investment decision. These risks are discussed more fully in the section of
this prospectus titled &ldquo;Risk Factors,&rdquo; which begins on page 10 of this prospectus. These risks include, among others,
that:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">We have incurred losses in the past and may be unable to achieve or sustain profitability in the
future.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">A significant portion of our revenue and accounts receivable is derived from a relatively limited
number of large clients and any loss of, or decrease in sales to, these clients could harm our results of operations.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Increases in driver compensation or difficulties attracting and retaining qualified drivers could
materially adversely affect our profitability and ability to maintain or grow our fleet.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">If we are unable to complete development of our proprietary software and update and improve it,
demand for our services could decrease our market penetration and revenues.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">We operate in a highly competitive and fragmented industry, and numerous competitive factors could
impair our ability to improve our profitability and materially adversely affect our results of operations.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Fluctuations in the price or availability of fuel or surcharge collection may increase our costs
of operation, which could materially adversely affect our profitability.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Our business is subject to general economic, business and regulatory factors affecting the truckload
industry that are largely beyond our control, any of which could have a material adverse effect on our results of operations.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Litigation against us could be costly and time-consuming to defend and could materially and adversely
affect our business, financial condition and results of operations.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">COVID-19&nbsp;has had and may continue to have a material adverse impact on us.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">We are vulnerable to continued global economic uncertainty and volatility in financial markets.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">We could need to raise additional capital in the future, and if we are unable to secure adequate
funds on terms acceptable to us, we could be unable to execute our business plan.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">We are increasingly dependent on information technology, and our systems and infrastructure face
certain risks, including cybersecurity and data leakage risks.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">If we lose our key management personnel, or are unable to attract or retain qualified personnel,
it could adversely affect our ability to execute our growth strategy.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Litigation or other proceedings or third-party claims of intellectual property infringement could
require us to spend significant time and money and could prevent us from operating or impact our stock price.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Recent U.S. tax legislation may materially affect our financial condition, results of operations
and cash flows.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Developments in labor and employment law and any unionizing efforts by employees could have a material
adverse effect on our results of operations.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Increases in collateral requirements that support our insurance program could materially adversely
affect our operations.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Our insurance policies are expensive and protect us only from some business risks, which will leave
us exposed to significant uninsured liabilities.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Raising additional capital may cause dilution to our existing stockholders and restrict our operations
or require us to relinquish certain intellectual property rights.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">We may seek to grow our business through acquisitions or investments in new or complementary businesses,
products or technologies, through the licensing of products or technologies from third parties or other strategic alliances, and
the failure to manage acquisitions, investments, licenses or other strategic alliances, or the failure to integrate them with our
existing business, could have a material adverse effect on our operating results, dilute our stockholders&rsquo; ownership, increase
our debt or cause us to incur significant expense.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Seasonality and the impact of weather and other catastrophic events affect our operations and profitability.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
</DIV>
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->
<DIV STYLE="padding: 5pt; border: Black 1pt solid">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B><A NAME="a_003"></A>The
Offering</B></FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 28%; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Common stock offered by us</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 71%; background-color: white; padding-right: 0.8pt; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Common stock to be outstanding after the offering<SUP>(1)</SUP></B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(or&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares if the underwriters exercise their option to purchase additional shares in full).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Over-allotment option of common stock offered by us</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: justify"><FONT STYLE="font-size: 10pt">The underwriters have a 45-day option to purchase up to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; additional shares of common stock.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Use of proceeds</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 0.8pt; text-align: justify"><FONT STYLE="font-size: 10pt">We expect to receive net proceeds of approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;million from this offering, assuming an initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (which is the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus) and no exercise of the underwriters&rsquo; over-allotment option, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. As of the date of this prospectus, we cannot specify with certainty all of the particular uses for the net proceeds to us from this offering. However, we currently intend to use the net proceeds to us from this offering for proprietary technology development, acquisitions, general corporate and working capital purposes. See the section of this prospectus titled &ldquo;<I>Use of Proceeds</I>&rdquo; beginning on page&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B>&nbsp;Lock-up agreements</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">We, all of our directors and officers and all of our stockholders have agreed with the underwriters, subject to certain exceptions, not to sell, transfer or dispose of, directly or indirectly, any of our common stock or securities convertible into or exercisable or exchangeable for our common stock for a period of (i) 180 days after the date of this prospectus in the case of our Company, (ii) 12&nbsp;months after the date of this prospectus in the case of our directors and officers, and (iii) 180 days after the date of this prospectus in the case of our stockholders.&nbsp;For additional information regarding our arrangement with the underwriters, please see &ldquo;<I>Underwriting</I>.&rdquo;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B>Risk factors</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-size: 10pt">You should carefully consider the information set forth in this prospectus and, in particular, the specific factors set forth in the &ldquo;<I>Risk Factors</I>&rdquo; section beginning on page&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of this prospectus before deciding whether or not to invest in shares of our common stock.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt"><B>Proposed listing</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">We</FONT> &nbsp;have applied to have our common stock listed on the Nasdaq Capital
Market under the symbol &ldquo;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,&rdquo;
which listing is a condition to this offering.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The number of shares of common stock outstanding
immediately following this offering is based on 30,000,000 shares outstanding as of June 13, 2022.</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 48pt; text-align: justify; text-indent: -24pt">(1) Excludes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
shares underlying the underwriters&rsquo; warrants (&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares
is the underwriters&rsquo; over-allotment option is exercised in full)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>
</DIV>
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    <!-- Field: /Page -->
<DIV STYLE="padding: 5pt; border: Black 1pt solid">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-variant: small-caps"><B>Summary
Combined Financial Data</B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents summary combined
financial and other data as of and for the periods indicated. You should read the following information together with our financial
statements and related notes contained elsewhere in this prospectus and the information under &ldquo;Management&rsquo;s Discussion
and Analysis of Financial Condition and Results of Operations.&rdquo; While LeeWay Services, Inc. was incorporated on October 12,
2021 and acquired its subsidiaries on December 31, 2021, the combined statements present results of operations as though LeeWay
Services owned the subsidiaries for each of the periods presented.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The summary financial data for the years ended December
31, 2021 and 2020 are derived from our audited financial statements included elsewhere in this prospectus. The summary financial data
as of March 31, 2022 and for the three months ended March 31, 2022 and 2021 are derived from our unaudited financial statements included
elsewhere in this prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All financial statements included in this
prospectus are prepared and presented in accordance with generally accepted accounting principles in the United States (&ldquo;GAAP&rdquo;).
The summary financial information is only a summary and should be read in conjunction with the historical financial statements
and related notes contained elsewhere herein. The financial statements contained elsewhere fully represent our financial condition
and operations; however, they are not indicative of our future performance.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">(Unaudited) <BR>
Three Months <BR>
Ended March 31,</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">(Unaudited) <BR> Three Months <BR> Ended March 31,</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">(Audited) <BR>
Years Ended <BR>
December 31,</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt"><B>Statements of Operations Data</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase">2022</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; white-space: nowrap; vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase">2021</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase">2021</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase">2020</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Revenue:</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; width: 49%; padding-left: 9pt"><FONT STYLE="font-size: 10pt">Transportation</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-size: 10pt">12,082,377</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: top; width: 10%; text-align: right"><FONT STYLE="font-size: 10pt">4,451,434</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-size: 10pt">27,316,857</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%"><FONT STYLE="font-size: 10pt; text-transform: uppercase">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-size: 10pt; text-transform: uppercase">13,471,155</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 10pt">Financing service</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">151,347</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">137,647</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">580,647</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt; text-transform: uppercase">440,385</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 20pt"><FONT STYLE="font-size: 10pt">Total revenue</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">12,233,724</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">4,589,081</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">27,897,504</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt; text-transform: uppercase">13,911,540</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Cost of sales:</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-left: 9pt"><FONT STYLE="font-size: 10pt">Transportation costs</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">9,633,516</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">3,901,746</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">23,377,335</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt; text-transform: uppercase">11,773,778</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 10pt">Financing costs</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">71,961</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">29,655</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">147,934</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt; text-transform: uppercase">105,171</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; padding-left: 0.25in"><FONT STYLE="font-size: 10pt">Total cost of sales</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">9,705,477</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">3,931,401</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">23,525,269</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt; text-transform: uppercase">11,878,949</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Gross profit</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">2,528,247</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">657,680</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">4,372,235</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt; text-transform: uppercase">2,032,591</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Total operating expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">1,627,862</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">604,131</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">3,230,803</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt; text-transform: uppercase">1,892,787</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Income from operations</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">900,385</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">53,549</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">1,141,432</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt; text-transform: uppercase">139,804</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Gain on PPP loan forgiveness</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">208,446</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt; text-transform: uppercase">-</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Other expense</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">(6,475)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">(39,369</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt; text-transform: uppercase">(3,851</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt; text-transform: uppercase">)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Income before income tax</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">900,385</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">47,074</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">1,310,239</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt; text-transform: uppercase">135,953</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Income tax expense</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">352,818</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt; text-transform: uppercase">77,375</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">Net income</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">900,385</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;47,074</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">957,421</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt; text-transform: uppercase">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt; text-transform: uppercase">58,578</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 2.5pt">&nbsp;</TD></TR>
  </TABLE>

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt"><B>Balance Sheet Data</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">March 31, 2022</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">As Adjusted <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 70%"><FONT STYLE="font-size: 10pt">Cash</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-size: 10pt">326,322</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 12%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">Total current assets</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8,656,239</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">Total Assets</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">9,244,574</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Total current liabilities</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">7,297,213</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">Total liabilities</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8,814,108</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Total stockholders&rsquo; equity</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">430,466</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">Total liabilities and stockholders&rsquo; equity</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">9,244,574</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD></TR>
  </TABLE>

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(1)</FONT></TD><TD><FONT STYLE="font-size: 10pt">On a pro forma as adjusted
basis to give effect to the sale by us of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
shares of common stock in this offering at an assumed public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per
share (which is the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus),
after deducting the estimated underwriting discounts and commissions and estimated offering expenses.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>
</DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_004"></A>RISK
FACTORS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Our business is subject to many risks and
uncertainties, which may affect our future financial performance. If any of the events or circumstances described below occur,
our business and financial performance could be adversely affected, our actual results could differ materially from our expectations,
and the price of our stock could decline. The risks and uncertainties discussed below are not the only ones we face. There may
be additional risks and uncertainties not currently known to us or that we currently do not believe are material that may adversely
affect our business and financial performance. You should carefully consider the risks described below, together with all other
information included in this prospectus including our financial statements and related notes, before making an investment decision.
The statements contained in this prospectus that are not historic facts are forward-looking statements that are subject to risks
and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements.
If any of the following risks were to actually occur, our business, financial condition or results of operations could be harmed.
In that case, the trading price of our common stock could decline, and investors in our securities may lose all or part of their
investment.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Risks Related to Our Business and Operations</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>A significant portion of our revenue
and accounts receivable is derived from a relatively limited number of large clients and any loss of, or decrease in sales to,
these clients could harm our results of operations. </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has two major customers which
together represented approximately 74% of our revenue and 53% of our accounts receivable for fiscal year 2021, and one of which
represented approximately 59% of our revenue and 47% of our accounts receivable for fiscal year 2021. During the three months ended March 31, 2022, two customers
represented 85% of sales. We are likely to continue
to experience ongoing customer concentration, particularly if we are successful in attracting large enterprise clients. It is
possible that revenue from these clients, either individually or as a group, may not reach or exceed historical levels in any
future period. Although currently we have a strong relationship with each of these clients, were either of these customers to
move their business elsewhere it would have an adverse effect on the profitability of the Company. The Company has strong relationships
with both of these customers and believes its business with them will be ongoing into the foreseeable future.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>We have incurred losses in the past and may be unable to achieve
or sustain profitability in the future.</I></B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company incurred losses from inception
through 2019, before generating profits in 2020, 2021 and the first quarter of 2022. There is no guarantee that the Company will
continue to be profitable going forward, as our operations and profitability may be adversely impacted by COVID-19 and the current
rate of inflation. Economic concerns may cause consumers to curtail spending, which could adversely impact both our transportation
and capital services groups.</P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Increases in driver compensation or difficulties
attracting and retaining qualified drivers could materially adversely affect our carriers&rsquo; profitability and their ability
to maintain or grow their fleet.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Like many logistics companies, we are directly
impacted when our carriers experience substantial difficulty in attracting and retaining sufficient numbers of qualified drivers,
which includes the engagement of independent contractors. Our industry is subject to a shortage of qualified drivers. Such shortages
are exacerbated during periods of economic expansion, in which alternative employment opportunities, including in the construction
and manufacturing industries, which may offer better compensation and/or more time at home. Alternatively, during periods of economic
downturns, in which unemployment benefits might be extended and financing is limited for independent contractors who seek to purchase
equipment, or the scarcity or growth of loans for students who seek financial aid for driving school. Regulatory requirements,
including those related to safety ratings, Electronic Logging Device (&ldquo;ELD and ELDs&rdquo;) and hours-of-service changes
and an improved economy could further reduce the pool of eligible drivers or force our carriers to increase driver compensation
to attract and retain drivers. We have seen evidence that stricter hours-of-service regulations adopted by the Department of Transportation
(the &quot;DOT&quot;) in the past have tightened, and, to the extent new regulations are enacted, may continue to tighten, the
market for eligible drivers. The lack of adequate tractor parking along some U.S. highways and congestion caused by inadequate
highway funding may make it more difficult for drivers to comply with hours-of-service regulations and cause added stress for drivers,
further reducing the pool of eligible drivers.&nbsp;We believe that the required implementation of ELDs in December 2017 and enforcement
thereof in April 2018 has and may further tighten such market. A shortage of qualified drivers and intense competition for drivers
from other trucking companies will create difficulties in maintaining or increasing the number of drivers available to our carriers
and may restrain their ability to engage independent contractors. Some of our carriers have implemented driver pay increases to
address this shortage. The compensation they offer their drivers and independent contractor expenses are subject to market conditions,
and they may find it necessary to further increase driver compensation. They may also become subject to increased independent contractor
expenses in future periods, which could materially adversely affect our growth and profitability.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, our carriers suffer from a high
turnover rate of drivers. This high turnover rate requires them to spend significant resources recruiting a substantial number
of drivers to operate existing revenue equipment and subjects them to a high degree of risk with respect to driver shortages. Our
carriers use of team-driven tractors in their expedited service requires two drivers per tractor, further increasing the number
of drivers our team must recruit and retain. The carriers also employ driver hiring standards, which could further reduce the pool
of available drivers from which they hire. If they are unable to continue to attract and retain a sufficient number of drivers,
they could be forced to, among other things, continue to adjust their compensation packages or operate with fewer tractors and
face difficulty meeting shipper demands, either of which could materially adversely affect our growth and profitability.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;<B>If we are unable to complete development
of our proprietary software and update and improve it, demand for our services could decrease our market penetration and revenues.</B></I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are counting on our proprietary software,
which will automate many of the manual steps in the delivery and invoicing process, to provide us with a competitive advantage.
To keep pace with the changing technology and marketplace evolution we must continually update and enhance our software offering.
Should our software not perform as designed, or should defects be found in our software, additional resources must be committed
to identifying and correcting the problems. Failure to timely identify and rectify problems could result in clients electing to
take their business to a competitor and would result in loss of revenue and market share.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>If our carriers do not meet our needs or expectations, or
those of our clients, our business could suffer. </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;The success of our business depends to
a large extent on our relationships with clients and our reputation for providing high-quality technology enabled transportation
and logistics services. We do not own or control the transportation assets that deliver our clients' freight, and we do not employ
the people directly involved in delivering the freight. We rely on independent third-parties to provide truck load, light truck
load, small parcel, inter-modal, domestic air, expedited and international services and to report certain information to us, including
information relating to delivery status and freight claims. This reliance could cause delays in providing our clients with important
service data and in the financial reporting of certain events, including recognizing revenue and recording claims. If we are unable
to secure sufficient transportation services to meet our commitments to our clients, our operating results could be adversely affected,
and our clients could switch to our competitors temporarily or permanently. Many of these risks are beyond our control and difficult
to anticipate, including:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .5in">&nbsp;</TD>
    <TD STYLE="width: .5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">changes in rates charged by transportation providers;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .5in">&nbsp;</TD>
    <TD STYLE="width: .5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">supply shortages in the transportation industry, particularly among truckload carriers;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .5in">&nbsp;</TD>
    <TD STYLE="width: .5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">interruptions in service or stoppages in transportation as a result of labor disputes; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .5in">&nbsp;</TD>
    <TD STYLE="width: .5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">changes in regulations impacting transportation.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;If any of the third parties we rely on
do not meet our needs or expectations, or those of our clients, our professional reputation may be damaged and our business could
be harmed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Competition could substantially impair our business and our
operating results. </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Competition in the transportation services
industry is intense. We compete against other non-asset-based logistics companies as well as asset-based logistics companies; freight
forwarders that dispatch shipments via asset-based carriers; carriers offering logistics services; internal shipping departments
at companies that have substantial transportation requirements; large business process outsourcing (BPO) service providers; and
smaller, niche service providers that provide services in a specific geographic market, industry segment or service area. We also
compete against carriers' internal sales forces and shippers' transportation departments. At times, we buy transportation services
from our competitors. Historically, competition has created a downward pressure on freight rates, and continuation of this rate
pressure may adversely affect the Company's revenue and income from operations.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, a software platform and database
similar to ours could be created over time by a competitor with sufficient financial resources and comparable experience in the
transportation services industry. If our competitors are able to offer comparable services, we could lose clients, and our market
share and profit margin could decline. Our competitors may also establish cooperative relationships to increase their ability to
address client needs. Increased competition may lead to revenue reductions, reduced profit margins or a loss of market share, any
one of which could harm our business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;<B><I>If we are unable to expand the
number of our sales representatives and agents, or if a significant number of our sales representatives and agents leaves us, our
ability to increase our revenue could be negatively impacted. </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our ability to expand our business will depend,
in part, on our ability to attract additional sales representatives and agents with established client relationships. Competition
for qualified sales representatives and agents can be intense, and we may be unable to hire such persons. Any difficulties we experience
in expanding the number of our sales representatives and agents could have a negative impact on our ability to expand our client
base, increase our revenue and continue our growth.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, we must retain our current sales
representatives and agents and properly incentivize them to obtain new clients and maintain existing client relationships. If a
significant number of our sales representatives and agents leave us, our revenue could be negatively impacted. We have entered
into agreements with our sales representatives and agents that contain non-compete provisions to mitigate this risk, but we may
need to litigate to enforce our rights under these agreements, which could be time-consuming, expensive, and ineffective. A significant
increase in the turnover rate among our current sales representatives and agents could also increase our recruiting costs and decrease
our operating efficiency, which could lead to a decline in the demand for our services.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>If our services do not achieve widespread commercial acceptance,
our business will suffer. </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Many companies coordinate the procurement and
management of their logistics needs with their own employees using a combination of telephone, facsimile, e-mail, and the Internet.
Growth in the demand for our services depends on the adoption of our technology-enabled transportation and logistics services.
We may not be able to persuade prospective clients to change their traditional transportation management processes. Our business
could suffer if our services are not accepted by the marketplace.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may not be able to develop or implement
new systems, procedures, and controls that are required to support the anticipated growth in our operations. </I></B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our revenue increased to $27.9&nbsp;million
for the year ended December 31, 2021 from $13.9&nbsp;million for the year ended December 31, 2020, representing an annual growth
rate of 101%, and for the first three months of 2022 it grew 166% over the same period in 2021. This growth is a considerable escalation
from the 68% growth experienced for the year ended December 31, 2020 over the $8.3 million revenue for the year ended December
31, 2019. Continued growth at the rates currently experienced could place a significant strain on our ability to:</P>



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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .5in">&nbsp;</TD>
    <TD STYLE="width: .5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">recruit, motivate and retain qualified sales representatives and agents, carrier representatives and management personnel; </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .5in">&nbsp;</TD>
    <TD STYLE="width: .5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">develop and improve our internal administrative infrastructure and execution standards; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .5in">&nbsp;</TD>
    <TD STYLE="width: .5in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">expand and maintain the operation of our technology infrastructure in a manner that preserves a quality customer experience. </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">To manage our growth, we must implement and
maintain proper operational and financial controls and systems. Further, we will need to manage our relationships with various
clients and carriers. We cannot give any assurance that we will be able to develop and implement, on a timely basis, the systems,
procedures, and controls required to support the growth in our operations or effectively manage our relationships with various
clients and carriers. If we are unable to manage our growth, our business, operating results, and financial condition could be
adversely affected.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We have a long selling cycle to secure
a new enterprise contract and a long implementation cycle, which require significant investments of resources. </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;We typically face a long selling cycle
to secure a new enterprise contract, which requires significant investment of resources and time by both our clients and us. Before
committing to use our services, potential clients require us to spend time and resources educating them on the value of our services
and assessing the feasibility of integrating our systems and processes with theirs. Our clients then evaluate our services before
deciding whether to use them. Therefore, our enterprise selling cycle, which can take six months or more, is subject to many risks
and delays over which we have little control, including our clients' decisions to choose alternatives to our services (such as
other providers or in-house resources) and the timing of our clients' budget cycles and approval processes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;Implementing our enterprise services,
which can take from one to six months, involves a significant commitment of resources over an extended period of time from both
our clients and us. Depending on the scope and complexity of the processes being implemented, these time periods may be significantly
longer. Our clients and future clients may not be willing or able to invest the time and resources necessary to implement our services,
and we may fail to close sales with potential clients to which we have devoted significant time and resources, which could have
a material adverse effect on our business, results of operations, financial condition and cash flows, as we do not recognize significant
revenue until after we have completed the implementation phase.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our clients may terminate their relationships
with us on short notice with limited or no penalties, and our clients are not obligated to spend a minimum amount with us. </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our transactional clients use our
services on a shipment-by-shipment basis rather than under long-term contracts. These clients have no obligation to continue
using our services and may stop using them at any time without penalty or with only limited penalties. Our contracts with our
two largest customers have a one-year term with automatic one-year renewals. Our contract with our largest customer may be
terminated by either party at any time with 30 days&rsquo; notice. In addition, our largest customer may terminate its
contract with us without 30 days&rsquo; notice in certain circumstances that call into question our ability to duly perform
our obligations under the contract, including breaches of the representations and warranties by the Company, or if the
Company becomes insolvent, or files for bankruptcy.&nbsp;Our contract with our second largest customer may be terminated by
either party at any time with 30 days&rsquo; notice and after the initial one-year term.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;The volume and type of services we provide
each client may vary from year to year and could be reduced if the client were to change its outsourcing or shipping strategy.
Our enterprise clients generally are not obligated to spend any particular amount with us, although our enterprise contracts are
typically exclusive with respect to point of origin or one or more modes of transportation, meaning that the client is obligated
to use us if it ships from the point of origin or uses those modes. These contractual exclusivity provisions help ensure, but do
not guarantee, that we receive a significant portion of the amount that our enterprise clients spend on transportation in the applicable
mode or modes or from the applicable point of origin. In our experience, compliance with such provisions varies from client to
client and over time. Failure to comply with these exclusivity provisions may adversely affect our revenue.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If a significant number of our transactional
or enterprise clients elect to terminate or not to renew their engagements with us, or if the volume of their shipping orders decreases,
our business, operating results and financial condition could suffer. If we are unable to renew our enterprise contracts at favorable
rates, our revenue may decline.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our engagement of independent contractors
to provide our capacity exposes us to risks that are largely outside of our control.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our contracts with independent contractors
are governed by the federal leasing regulations, which impose specific requirements on us and the independent contractors. If more
stringent federal leasing regulations are adopted, potential independent contractors could be deterred from becoming independent
contractor drivers, which could materially adversely affect our goal of maintaining our current fleet levels of independent contractors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to our fuel surcharge program, we
pay independent contractors we contract with a fuel surcharge that increases proportionally with increases in fuel prices. A significant
increase or a rapid fluctuation in fuel prices could cause our costs under this program to be higher than the revenue we receive
under our customer fuel surcharge programs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We anticipate providing financing to certain
qualified independent contractors through factoring their invoices. If we are unable to provide such financing in the future, due
to liquidity constraints or other restrictions, we may experience a decrease in the number of independent contractors we are able
to engage. Further, if independent contractors we engage default, or otherwise terminate the financing arrangement, and we are
unable to find a replacement independent contractor or seat the tractor with a company driver, we may incur losses on amounts owed
to us with respect to the tractor.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We operate in a highly competitive and
fragmented industry, and numerous competitive factors could impair our ability to improve our profitability and materially adversely
affect our results of operations.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Numerous competitive factors could impair our ability to improve
our profitability and materially adversely affect our results of operations, including:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">We compete with many other logistics companies for truckload carriers of varying sizes and services (including intermodal) and, to a lesser extent, with (i)&nbsp;less-than-truckload carriers, (ii)&nbsp;railroads, and (iii)&nbsp;other transportation and brokerage companies, several of which have access to more equipment and greater capital resources than we do;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">many of our competitors periodically reduce their freight rates to gain business, especially during times of reduced growth in the economy, which may limit our ability to maintain or increase freight rates, to maintain or expand our business, or may require us to reduce our freight rates in order to remain competitive and keep our carriers productive;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our carriers may have difficulty recruiting and retaining drivers because our competitors offer better compensation or working conditions;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">some of our larger customers are other transportation and logistics companies and may also operate their own private trucking fleets, and they may decide to transport more of their own freight;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">some shippers have reduced or may reduce the number of carriers they use by selecting preferred carriers as approved service providers or by engaging dedicated providers, and we may not be selected for engagement;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">many customers periodically solicit bids from multiple carriers for their shipping needs and this process may depress freight rates or result in a loss of business to competitors;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">consolidation in the trucking industry may create other large carriers with greater financial resources and other competitive advantages, and we may have difficulty competing with them;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">advances in technology may require us to increase investments in order to remain competitive, and our customers may not be willing to accept higher freight rates to cover the cost of these investments;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our competitors may have better safety records than our carriers or a perception of better safety records;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">higher fuel prices and, in turn, higher fuel surcharges to our customers may cause some of our customers to consider freight transportation alternatives, including rail transportation;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">competition from freight brokerage companies may materially adversely affect our customer relationships and freight rates; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">economies of scale that procurement aggregation providers may pass on to smaller carriers may improve such carriers&rsquo; ability to compete with us.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Fluctuations in the price or availability
of fuel or surcharge collection may increase our costs of operation, which could materially adversely affect our profitability.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Fuel is one of our carriers&rsquo; largest
operating expenses. Diesel fuel prices fluctuate greatly due to factors beyond our control, such as political events, terrorist
activities, armed conflicts, commodity futures trading, depreciation of the dollar against other currencies and hurricanes and
other natural or man-made disasters, each of which may lead to an increase in the cost of fuel. Fuel prices also are affected by
the rising demand for fuel in developing countries, including China. Fuel prices could be materially adversely affected by the
use of crude oil and oil reserves for purposes other than fuel production and by diminished drilling activity. Such events may
lead not only to increases in fuel prices, but also to fuel shortages and disruptions in the fuel supply chain. Because our operations
are dependent upon diesel fuel, significant diesel fuel cost increases, shortages, or supply disruptions would materially adversely
affect our business, financial condition, and results of operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Fuel also is subject to regional pricing differences
and is often more expensive on the West Coast of the United States, where we have operations. Increases in fuel costs, to the extent
not offset by rate per mile increases or fuel surcharges, have a material adverse effect on our operations and profitability. While
we have fuel surcharge programs in place with a majority of our customers, which historically have helped us offset the majority
of the negative impact of rising fuel prices associated with loaded or billed miles, we also incur fuel costs that cannot be recovered
even with respect to customers with which we maintain fuel surcharge programs, such as those associated with non-revenue generating
miles, the time when our engines are idling, and fuel for refrigeration units on our refrigerated trailers. Moreover, the terms
of each customer's fuel surcharge program vary, and certain customers have sought to modify the terms of their fuel surcharge programs
to minimize recoverability for fuel price increases. In addition, because our fuel surcharge recovery lags behind changes in fuel
prices, our fuel surcharge recovery may not capture the increased costs we pay for fuel, especially when prices are rising. This
could lead to fluctuations in our levels of reimbursement, which have occurred in the past. There can be no&nbsp;assurance that
such fuel surcharges can be maintained indefinitely or will be sufficiently effective.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our business depends on compliance with
many government regulations, which could lead to increased costs.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Transportation of goods is subject to a number
of governmental regulations. These regulations and requirements are subject to change based on new legislation and regulatory initiatives,
which could affect the economics of the transportation industry by requiring changes in operating practices of influencing the
demand for, and the cost of providing, providing transportation services. The passage of new or the modification of existing regulations
could increase our operating costs. No assurances can be given that we will be able to pass these increased costs on to our clients
in the form of rate increases or surcharges.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Developments in labor and employment
law and any unionizing efforts by employees could have a material adverse effect on our results of operations.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We face the risk that Congress, federal agencies,
or one or more states could approve legislation or regulations significantly affecting our businesses and our relationship with
our employees, such as the previously proposed federal legislation referred to as the Employee Free Choice Act, which would have
substantially liberalized the procedures for union organization. None of our domestic employees are currently covered by a collective
bargaining agreement, but any attempt by our employees to organize a labor union could result in increased legal and other associated
costs. Additionally, given the National Labor Relations Board&rsquo;s &ldquo;speedy election&rdquo; rule, our ability to timely
and effectively address any unionizing efforts would be difficult. If we entered into a collective bargaining agreement with our
domestic employees, the terms could materially adversely affect our costs, efficiency, and ability to generate acceptable returns
on the affected operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our business is subject to general economic,
business, and regulatory factors affecting the truckload industry that are largely beyond our control, any of which could have
a material adverse effect on our results of operations.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The truckload industry is highly cyclical,
and our business is dependent on several factors that may have a negative impact on our results of operations, many of which are
beyond our control. We believe that some of the most significant of these factors are economic changes that affect supply and demand
in transportation markets, such as:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">changes in customers&rsquo; inventory levels and practices, including shrinking product/package sizes, and in the availability of funding for their working capital;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;excess truck capacity in comparison with shipping demand;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">driver shortages and increases in drivers&rsquo; compensation;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">industry compliance with ongoing regulatory requirements;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">downturns in customers&rsquo; business cycles, including declines resulting from changes in consumer spending.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Economic conditions that decrease shipping
demand or increase the supply of available tractors and trailers can exert downward pressure on rates and equipment utilization,
thereby decreasing asset productivity. The risks associated with these factors are heightened when the U.S. economy is weakened.
Some of the principal risks during such times are as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">we may experience low overall freight levels, which may impair our asset utilization;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">certain customers may face credit issues and cash flow problems that may lead to payment delays, increased credit risk, bankruptcies and other financial hardships that could result in even lower freight demand and may require us to increase our allowance for doubtful accounts;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">freight patterns may change as supply chains are redesigned, resulting in an imbalance between our capacity and our customers&rsquo; freight demand;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">customers may bid out freight or select competitors that offer lower rates in an attempt to lower their costs, and we might be forced to lower our rates or lose freight;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">we may be forced to accept more loads from freight brokers, where freight rates are typically lower, or may be forced to incur more non-revenue generating miles to obtain loads; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">we may experience a lack of access to current sources of credit or lack of lender access to capital, leading to an inability to secure financing on satisfactory terms, or at all.&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are also subject to cost increases outside
our control that could materially reduce our profitability if we are unable to increase our rates sufficiently. Such cost increases
include, but are not limited to, increases in fuel prices, driver and office employee wages, purchased transportation costs, interest
rates, taxes, tolls, license and registration fees, insurance, revenue equipment and related maintenance, tires and other components,
and healthcare and other benefits for our employees.&nbsp;Further, we may not be able to appropriately adjust our costs to changing
market demands. In order to maintain high variability in our business model, it is necessary to adjust staffing levels to changing
market demands. In periods of rapid change, it is more difficult to match our staffing level to our business needs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, events outside our control, such
as deterioration of U.S.&nbsp;transportation infrastructure and reduced investment in such infrastructure, strikes or other work
stoppages at our facilities or at customer, port, border or other shipping locations, or actual or threatened armed conflicts or
terrorist attacks, efforts to combat terrorism, military action against a foreign state or group located in a foreign state or
heightened security requirements could lead to wear, tear and damage to our equipment, driver dissatisfaction, reduced economic
demand, reduced availability of credit, increased prices for fuel, or temporary closing of the shipping locations or U.S. borders.
Such events or enhanced security measures in connection with such events could impair our operating efficiency and productivity
and result in higher operating costs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Changing impacts of regulatory measures could
impair our operating efficiency and productivity, decrease our revenues and profitability and result in higher operating costs.
In addition, declines in the resale value of revenue equipment can affect our profitability and cash flows. From time to time,
various U.S. federal, state or local taxes are also increased, including taxes on fuel. We cannot predict whether, or in what form,
any such tax increase applicable to us will be enacted, but such an increase could materially adversely affect our profitability.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Increases in collateral requirements that support our insurance
program could materially adversely affect our operations.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">To comply with certain state insurance regulatory
requirements, cash and/or cash equivalents must be paid to certain of our third-party insurers, to state regulators. Significant
future increases in the amount of collateral required by third-party insurance carriers and regulators would reduce our liquidity
and could materially adversely affect our business, financial condition, results of operations and capital resources.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B><I>Geopolitical
conditions, including trade disputes and direct or indirect acts of war or terrorism, could have an adverse effect on our operations
and financial results.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Recently, Russia
initiated significant military action against Ukraine. In response, the U.S. and certain other countries imposed significant sanctions
and export controls against Russia, Belarus, and certain individuals and entities connected to Russian or Belarusian political,
business, and financial organizations, and the U.S. and certain other countries could impose further sanctions, trade restrictions,
and other retaliatory actions should the conflict continue or worsen. It is not possible to predict the broader consequences of
the conflict, including related geopolitical tensions, and the measures and retaliatory actions taken by the U.S. and other countries
in respect thereof as well as any counter measures or retaliatory actions by Russia or Belarus in response, including, for example,
potential cyberattacks or the disruption of energy exports, is likely to cause regional instability, geopolitical shifts, and could
materially adversely affect regional economies and the global economy. The situation remains uncertain, and it is difficult to
predict the impact of any of the foregoing. We do not conduct any business overseas. However, the conflict has disrupted the world-wide
supply of petroleum products, resulting in increased fuel costs, which has a significant impact on our business. Fuel price fluctuations
have long been a significant cost factor in the transportation business and while we can mitigate the direct impact of increased
fuel costs on our operating expenses by passing these costs on to our customers via a fuel surcharge, increased costs to our customers
could ultimately lead to a decline in the demand for our services by our customers and thus reduce our sales and earnings, impair
our ability to raise additional capital when needed on acceptable terms, if at all, or otherwise adversely affect our business,
financial condition, and results of operations.</P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If we sustain a cyber-attack or suffer
privacy or data security breaches that disrupt our information systems or operations or result in the dissemination of sensitive
personal or confidential information, we could suffer increased costs, exposure to significant liability, reputational harm, loss
of business, and other serious negative consequences. </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our information technology systems and safety
control systems are subject to a growing number of threats from computer programmers, hackers, and other adversaries that may be
able to penetrate our network security and misappropriate our confidential information or that of third parties, create system
disruptions, or cause damage, security issues, or shutdowns. They also may be able to develop and deploy viruses, worms, and other
malicious software programs that attack our systems or otherwise exploit security vulnerabilities. Because the techniques used
to circumvent, gain access to, or sabotage security systems, can be highly sophisticated and change frequently, they often are
not recognized until launched against a target, and may originate from less regulated and remote areas around the world. We may
be unable to anticipate these techniques or implement adequate preventive measures, resulting in potential data loss and damage
to our systems. Our systems are also subject to compromise from internal threats such as improper action by employees, including
malicious insiders, or by vendors, counterparties, and other third parties with otherwise legitimate access to our systems. Our
policies, employee training (including phishing prevention training), procedures, and technical safeguards may not prevent all
improper access to our network or proprietary or confidential information by employees, vendors, counterparties, or other third
parties. Our facilities may also be vulnerable to security incidents or security attacks, acts of vandalism or theft, misplaced
or lost data, human errors, or other similar events that could negatively affect our systems, and our and our members&rsquo;, data.
Additionally, our third-party service providers who process information on our behalf may cause security breaches for which we
are responsible.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Seasonality and the impact of weather and other catastrophic
events may affect our operations and profitability.</I></B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our carrier productivity decreases during
the winter season because of inclement weather impeding operations, and some shippers reduce their shipments after the winter holiday
season. Revenue may also be adversely affected by inclement weather and holidays since revenue is directly correlated with available
working days of shippers. At the same time, operating expense increases and fuel efficiency declines because of engine idling and
harsh weather which leads to higher accident frequency, increased claims and higher equipment repair expenditures. We also may
suffer from weather-related or other unforeseen events such as tornadoes, hurricanes, blizzards, ice storms, floods, fires, earthquakes,
and explosions. These events may disrupt fuel supplies, increase fuel costs, disrupt freight shipments or routes, affect regional
economies, damage, or destroy our assets or adversely affect the business or financial condition of our customers, any of which
could materially adversely affect our results of operations or make our results of operations more volatile.</P>



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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Litigation against us could be costly
and time-consuming to defend and could materially and adversely affect our business, financial condition, and results of operations.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are from time to time involved in various
claims, litigation matters and regulatory proceedings incidental to our business, including claims for damages arising out of the
use of our services and claims relating to intellectual property matters, employment matters, commercial disputes, competition,
sales and trading practices, environmental matters, personal injury, and insurance coverage. Some of these lawsuits include claims
for punitive as well as compensatory damages. The defense of these lawsuits could divert our management&rsquo;s attention, and
we could incur significant expenses in defending these lawsuits. In addition, we could be required to pay damage awards or settlements
or become subject to unfavorable equitable remedies. Moreover, any insurance or indemnification rights that we could have may be
insufficient or unavailable to protect us against potential loss exposures.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If we lose our key management personnel,
or are unable to attract or retain qualified personnel, it could adversely affect our ability to execute our growth strategy.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our success is dependent, in part, upon our
ability to hire and retain management, engineers, marketing and sales personnel, and technical, research and other personnel who
are in high demand and are often subject to competing employment opportunities. Our success will depend on our ability to retain
our current personnel and to attract and retain qualified like personnel in the future. Competition for senior management, engineers,
marketing and sales personnel and other specialized technicians is intense and we may not be able to retain our personnel. If we
lose the services of any executive officers or key employees, our ability to achieve our business objectives could be harmed or
delayed, which could have a material adverse effect on our daily operations, operating cash flows, results of operations and ultimately
share price. In general, our officers could terminate their employment at any time without notice for any reason.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We are vulnerable to continued global
economic uncertainty and volatility in financial markets.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our business is highly sensitive to changes
in general economic conditions as a seller of services. Financial markets inside the United States and internationally have experienced
extreme disruption in recent times, including, among other things, extreme volatility in security prices, severely diminished liquidity
and credit availability, and declining valuations of investments. We believe these disruptions are likely to have an ongoing adverse
effect on the world economy. A continuing economic downturn and financial market disruptions could have a material adverse effect
on our business, financial condition, and results of operations, including:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">reducing demand for our services, increasing cancellations, and resulting in longer sales cycles and slower adoption of new technologies;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">increasing the difficulty of collecting accounts receivable; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">increasing price competition in our served markets.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B><I>COVID-19&nbsp;has had and may continue
to have a material adverse impact on us.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2019, a novel strain of coronavirus
(COVID-19) was reported to have surfaced in Wuhan, China. The virus has since spread to over 150 countries and every state in the
United States. On January 30, 2020, the World Health Organization declared the outbreak of Coronavirus a &ldquo;Public Health Emergency
of International Concern.&rdquo; On March 11, 2020, the World Health Organization declared the outbreak a pandemic, and on March
13, 2020, the United States declared a national emergency.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The COVID-19&nbsp;pandemic,
as well as the corresponding governmental response has had significant negative effects on the majority of the US economy and has
adversely affected the entire transportation market. The consequences of the outbreak and impact on the economy continues to evolve
and the full extent of the impact is uncertain as of the date of this prospectus. The outbreak has already had, and continues to
have, a material adverse effect on our business, operating results and financial condition and has significantly disrupted our
operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The&nbsp;COVID-19&nbsp;pandemic
has also caused adverse effects on general commercial activity and the global economy, which has led to an economic slowdown and
recession, and which has adversely affected our business, operating results or financial condition. The&nbsp;COVID-19&nbsp;pandemic
has also led to and could continue to lead to severe disruption and volatility in the global capital markets, which could increase
our cost of future capital and adversely affect our ability to access the capital markets in the future.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">As the global outbreak
of&nbsp;COVID-19&nbsp;continues to rapidly evolve, it could continue to materially and adversely affect our revenues, cash flows,
business, financial condition, results of operations and prospects for an indeterminate period of time. Notwithstanding recent
developments and implementations with respect to vaccines for COVID-19, we are unable to accurately predict the full impact that
the ongoing pandemic will have due to numerous factors that are not within our control, including its duration and severity.&nbsp;Although
stay-at-home&nbsp;and&nbsp;shelter-in-place&nbsp;orders and business operation restrictions have been lifted in most states in
the US, there is no guarantee that such orders and restrictions will not be reimplemented in the near future. Travel restrictions,
supply chain disruptions, employee illness or quarantines, and other extended periods of interruption to our business have resulted
and could continue to result in disruptions to our operations. These interruptions have had and could continue to have adverse
impacts on the growth of our business and have caused and could continue to cause us to cease or delay operations. Any worsening
of the&nbsp;COVID-19&nbsp;pandemic could result in additional material adverse impacts on our business, financial condition, results
of operations and prospects.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the current pace of the pandemic cannot
be slowed and the spread of the virus is not contained, our business operations could be further delayed or interrupted. We expect
that government and health authorities may announce new or extend existing restrictions, which could require us to make further
adjustments to our operations to comply with any such restrictions. We may also experience limitations in employee resources. In
addition, our operations could be disrupted if any of our employees were suspected of having the virus, which could require quarantine
of some or all such employees or closure of our facilities for disinfection. The duration of any business disruption cannot be
reasonably estimated at this time but may materially affect our ability to operate our business and result in additional costs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Although it is difficult to predict the effect
and ultimate impact of the COVID-19 pandemic on our business, the impact of COVID19 could adversely affect our results of operations,
financial condition, and cash flows in fiscal year 2022.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>We could need to raise additional capital in the future, and
if we are unable to secure adequate funds on terms acceptable to us, we could be unable to execute our business plan.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">To remain competitive, we must continue to
make significant investments in the development of our services, the expansion of our sales and marketing activities, and the expansion
of our operating and management infrastructure as we increase sales domestically. If cash generated from our operations is insufficient
to fund such growth, we could be required to raise additional funds through the issuance of equity or debt securities in the public
or private markets, or through a collaborative arrangement or sale of assets. Additional financing opportunities may not be available
to us, or if available, may not be on favorable terms. The availability of financing opportunities will depend, in part, on market
conditions, and the outlook for our business. Any future issuance of equity securities or securities convertible into equity securities
could result in substantial dilution to our stockholders, and the securities issued in such a financing could have rights, preferences,
or privileges senior to those of our common stock. In addition, if we raise additional funds through debt financing, we could be
subject to debt covenants that place limitations on our operations. We could not be able to raise additional capital on reasonable
terms, or at all, or we could use capital more rapidly than anticipated. If we cannot raise the required capital when needed, we
may not be able to satisfy the demands of existing and prospective customers, we could lose revenue and market share and we may
have to curtail our capital expenditures.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following factors, among others, could
affect our ability to obtain additional financing on favorable terms, or at all:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our results of operations;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">general economic conditions and conditions in the transportation industry;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the perception of our business in the capital markets;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">making capital improvements to improve our infrastructure;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">hiring qualified management and key employees;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">responding to competitive pressures;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">complying with regulatory requirements, if any;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our ratio of debt to equity;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our financial condition;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our business prospects; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">interest rates.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If we are unable to obtain sufficient capital
in the future, we could have to curtail our capital expenditures. Any curtailment of our capital expenditures could result in a
reduction in net revenue, reduced quality of our services, or harm to our reputation, and could have a material adverse effect
on our business, financial condition and results of operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B><I>Recent U.S.
tax legislation may materially affect our financial condition, results of operations, and cash flows.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Tax Cuts and Jobs
Act (the &ldquo;Tax Act&rdquo;) has significantly changed the U.S. federal income taxation of U.S. businesses, including by reducing
the U.S. corporate income tax rate, limiting interest deductions, permitting immediate expensing of certain capital expenditures,
modifying, or repealing many business deductions and credits.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Coronavirus Aid,
Relief, and Economic Security Act (the &ldquo;CARES Act&rdquo;) modifies certain provisions of the Tax Act, including increasing
the amount of interest expense that may be deducted.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Tax Act as modified
by the CARES Act is unclear in many respects and could be subject to potential amendments and technical corrections, as well as
interpretations and implementing regulations by the Treasury and IRS, any of which could lessen or increase certain adverse impacts
of the legislation. In addition, it is unclear how these U.S. federal income tax changes will affect state and local taxation,
which often uses federal taxable income as a starting point for computing state and local tax liabilities. Our analysis and interpretation
of this legislation is preliminary and ongoing and there may be material adverse effects resulting from the legislation that we
have not yet identified. While some of the changes made by the tax legislation may adversely affect us, other changes may be beneficial.
We continue to work with our tax advisors and auditors to determine the full impact that the recent tax legislation will have on
us. We urge our investors to consult with their legal and tax advisors with respect to such legislation and its potential effect
on an investment in our common stock.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our insurance policies are expensive
and protect us only from some business risks, which will leave us exposed to significant uninsured liabilities.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We do not carry insurance for all categories
of risk that our business may encounter. Some of the policies we currently maintain include general liability, employee benefits
liability, property, umbrella, errors and omissions, workers&rsquo; compensation, products liability and directors&rsquo; and officers&rsquo;
insurance. We do not know, however, if these policies will provide us with adequate levels of coverage. Any significant uninsured
liability may require us to pay substantial amounts, which would adversely affect our cash position and results of operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>Risks Related to
Our Intellectual Property</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Litigation or other proceedings or third-party
claims of intellectual property infringement could require us to spend significant time and money and could prevent us from operating
or impact our stock price.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our commercial success will depend in part
on not infringing the trademarks or violating the other proprietary rights of others. Any litigation or claim against us, even
those without merit, may cause us to incur substantial costs, and could place a significant strain on our financial resources,
divert the attention of management from our core business and harm our reputation. If we are found to infringe the intellectual
property rights of third parties, we could be required to pay substantial damages (which may be increased up to three times of
awarded damages) and/or substantial royalties and could be prevented from selling our products unless we obtain a license or are
able to redesign our products to avoid infringement. Any such license may not be available on reasonable terms, if at all.</P>

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If we are unable to protect the confidentiality
of our trade secrets, our business and competitive position could be harmed.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition to trademark protection, we also
rely upon copyright and trade secret protection. In addition to contractual measures, we try to protect the confidential nature
of our proprietary information using commonly accepted physical and technological security measures. Such measures may not, for
example, in the case of misappropriation of a trade secret by an employee or third party with authorized access, provide adequate
protection for our proprietary information. Our security measures may not prevent an employee or consultant from misappropriating
our trade secrets and providing them to a competitor, and recourse we take against such misconduct may not provide an adequate
remedy to protect our interests fully. Enforcing a claim that a party illegally disclosed or misappropriated a trade secret can
be difficult, expensive, and time-consuming, and the outcome is unpredictable. Even though we use commonly accepted security measures,
trade secret violations are often a matter of state law, and the criteria for protection of trade secrets can vary among different
jurisdictions. In addition, trade secrets may be independently developed by others in a manner that could prevent legal recourse
by us. If any of our confidential or proprietary information, such as our trade secrets, were to be disclosed or misappropriated,
or if any such information was independently developed by a competitor, our business and competitive position could be harmed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Third parties may assert that our employees
or consultants have wrongfully used or disclosed confidential information or misappropriated trade secrets.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We employ individuals who previously worked
with other companies, including our competitors or potential competitors. Although we try to ensure that our employees and consultants
do not use the proprietary information or know-how of others in their work for us, we may be subject to claims that we or our employees,
consultants or independent contractors have inadvertently or otherwise used or disclosed intellectual property, including trade
secrets or other proprietary information, of a former employer or other third party. Litigation may be necessary to defend against
these claims. If we fail in defending any such claims or settling those claims, in addition to paying monetary damages or a settlement
payment, we may lose valuable intellectual property rights or personnel. Even if we are successful in defending against such claims,
litigation could result in substantial costs and be a distraction to management and other employees.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We are increasingly dependent on information
technology, and our systems and infrastructure face certain risks, including cybersecurity and data leakage risks.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Significant disruptions to our information
technology systems or breaches of information security could adversely affect our business. In the ordinary course of business,
we collect, store, and transmit large amounts of confidential information, and it is critical that we do so in a secure manner
to maintain the confidentiality and integrity of such information. We have also outsourced significant elements of our information
technology infrastructure; as a result, we manage independent vendor relationships with third parties who are responsible for maintaining
significant elements of our information technology systems and infrastructure and who may or could have access to our confidential
information. The size and complexity of our information technology systems make such systems potentially vulnerable to service
interruptions and security breaches from inadvertent or intentional actions by our employees, partners, or vendors. These systems
are also vulnerable to attacks by malicious third parties and may be susceptible to intentional or accidental physical damage to
the infrastructure maintained by us or by third parties. Maintaining the secrecy of confidential, proprietary and/or trade secret
information is important to our competitive business position. While we have taken steps to protect such information and have invested
in systems and infrastructures to do so, there can be no guarantee that our efforts will prevent service interruptions or security
breaches in our systems or the unauthorized or inadvertent wrongful use or disclosure of confidential information that could adversely
affect our business operations or result in the loss, dissemination, or misuse of critical or sensitive information. A breach our
security measures or the accidental loss, inadvertent disclosure, unapproved dissemination, misappropriation or misuse of trade
secrets, proprietary information, or other confidential information, whether as a result of theft, hacking, fraud, trickery or
other forms of deception, or for any other cause, could enable others to produce competing services, use our proprietary technology
or information, and/or adversely affect our business position. Further, any such interruption, security breach, loss or disclosure
of confidential information could result in financial, legal, business, and reputational harm to us and could have a material adverse
effect on our business, financial position, results of operations and/or cash flow.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Risks Related to this Offering and Ownership
of our Common Stock</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our management will have broad discretion
over the use of any net proceeds from this offering and you may not agree with how we use the proceeds, and the proceeds may not
be invested successfully.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our management will have broad discretion as
to the use of any net proceeds from this offering and could use them for purposes other than those contemplated at the time of
this offering. Accordingly, you will be relying on the judgment of our management regarding the use of any proceeds from the sale
of common stock and/or the exercise of warrants on a cash basis in this offering and you will not have the opportunity, as part
of your investment decision, to assess whether the proceeds are being used appropriately. It is possible that the proceeds will
be invested in a way that does not yield a favorable, or any, return for you.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Investors in this offering may experience
future dilution as a result of this and future equity offerings.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In order to raise additional capital, we may
in the future offer additional shares of our common stock or other securities convertible into or exchangeable for our common stock.
Investors purchasing our shares or other securities in the future could have rights superior to existing common stockholders, and
the price per share at which we sell additional shares of our common stock or other securities convertible into or exchangeable
for our common stock in future transactions may be higher or lower than the price per share in this offering.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Sales of a significant number of shares
of our common stock in the public markets, or the perception that such sales could occur, could depress the market price of our
common stock.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Sales of a substantial number of shares of
our common stock in the public markets could depress the market price of our common stock and impair our ability to raise capital
through the sale of additional equity securities. We cannot predict the effect that future sales of our common stock would have
on the market price of our common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If securities or industry analysts do
not publish research or publish inaccurate or unfavorable research about our business, our stock price and trading volume could
decline.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The trading market for our common stock will
depend in part on the research and reports that securities or industry analysts publish about us or our business. If one or more
of those analysts downgrade our stock or publish inaccurate or unfavorable research about our business, our stock price would likely
decline. If one or more of these analysts cease coverage of our Company or fail to publish reports on us regularly, demand for
our stock could decrease, which might cause our stock price and trading volume to decline.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The price of our common stock may be
volatile, and you may be unable to resell your shares at or above the initial public offering price.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Prior to this offering, there was no public
market for shares of our common stock. The initial public offering price for the shares of our common stock sold in this offering
will be determined by negotiation between the underwriters and us. This price may not reflect the market price of our common stock
following this offering. You may be unable to sell your shares of common stock at or above the initial public offering price due
to fluctuations in the market price of our common stock. In addition, the trading price of our common stock may be highly volatile
and could be subject to wide fluctuations in response to various factors, some of which are beyond our control. Factors that could
cause volatility in the market price of our common stock include, but are not limited to:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">actual or anticipated fluctuations in our financial condition and operating results;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">actual or anticipated changes in our growth rate relative to our competitors;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">commercial success and market acceptance of our services;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">success of our competitors in developing or commercializing services;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">ability to commercialize or obtain regulatory approvals for our services, or delays in commercializing or obtaining regulatory approvals;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">strategic transactions undertaken by us;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">additions or departures of key personnel;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">prevailing economic conditions;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">disputes concerning our intellectual property or other proprietary rights;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">transportation-related reform measures in the United States;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">sales of our common stock by our officers, directors, or significant stockholders;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">future sales or issuances of equity or debt securities by us;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">business disruptions caused by earthquakes, fires, or other natural disasters; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">issuance of new or changed securities analysts&rsquo; reports or recommendations regarding us.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, the stock markets in general,
and the markets for companies like ours, have from time-to-time experienced extreme volatility that have has been often unrelated
to the operating performance of the issuer. A certain degree of stock price volatility can be attributed to being a newly public
company. These broad market and industry fluctuations may negatively impact the price or liquidity of our common stock, regardless
of our operating performance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accordingly, you will be relying on the judgment
of our management regarding the use of any proceeds from the sale of common stock in this offering and you will not have the opportunity,
as part of your investment decision, to assess whether the proceeds are being used appropriately.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>As a &ldquo;controlled company&rdquo;
under the rules of Nasdaq, we may
choose to exempt our Company from certain corporate governance requirements that could have an adverse effect on our public shareholders.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">WLP, our parent company, is currently the beneficial
owner of 100% of our voting stock. Upon the closing of this offering, WLP will own approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%
of the voting power of our voting stock. &nbsp;We currently meet the definition of a &ldquo;controlled company&rdquo; under the
corporate governance standards for&nbsp;Nasdaq
listed companies and for so long as we remain a controlled company under this definition, we are eligible to utilize certain exemptions
from the corporate governance requirements of&nbsp;Nasdaq.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As long as our officers and directors, either
individually or in the aggregate, own at least 50% of the voting power of our Company, we are a &ldquo;controlled company&rdquo;
as defined under the listing rules of&nbsp;Nasdaq.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For so as we are a controlled company under
that definition, we are permitted to elect to rely, and may rely, on certain exemptions from corporate governance rules, including:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">an exemption from the rule that a majority of our board of directors must be independent directors;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">an exemption from the rule that the compensation of our CEO must be determined or recommended solely by independent directors; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">an exemption from the rule that our director nominees must be selected or recommended solely by independent directors.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Although we do not intend to rely on the &ldquo;controlled
company&rdquo; exemption under the Nasdaq listing rules, we could elect to rely on this exemption in the future. If we elect to rely on the &ldquo;controlled company&rdquo;
exemption, a majority of the members of our board of directors might not be independent directors and our nominating and corporate
governance and compensation committees might not consist entirely of independent directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result, you will not have the same
protection afforded to shareholders of companies that are subject to these corporate governance requirements.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Raising additional capital may cause
dilution to our existing stockholders and restrict our operations or require us to relinquish certain intellectual property rights</I>.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We may seek additional capital through a combination
of public and private equity offerings, debt financings, strategic partnerships and alliances, licensing arrangements and grants.
To the extent that we raise additional capital through the sale of equity or convertible debt securities, the ownership interest
of our existing stockholders may be diluted, and the terms may include liquidation or other preferences that adversely affect the
rights of our stockholders. Debt and receivables financings may be coupled with an equity component, such as warrants to purchase
shares, which could also result in dilution of our existing stockholders&rsquo; ownership. The incurrence of indebtedness would
result in increased fixed payment obligations and could also result in certain restrictive covenants, such as limitations on our
ability to incur additional debt, limitations on our ability to acquire or license intellectual property rights and other operating
restrictions that could adversely impact our ability to conduct our business. If we raise additional funds through strategic partnerships
and alliances and licensing arrangements with third parties, we may have to relinquish valuable rights to our or our subsidiaries&rsquo;
services or grant licenses on terms that are not favorable to us. A failure to obtain adequate funds may cause us to curtail certain
operational activities, including validation/marketing studies, sales and marketing and operations, in order to reduce costs and
sustain the business, and would have a material adverse effect on our business and financial condition.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may seek to grow our business through
acquisitions or investments in new or complementary businesses, services or technologies, through the licensing of technologies
from third parties or other strategic alliances, and the failure to manage acquisitions, investments, licenses or other strategic
alliances, or the failure to integrate them with our existing business, could have a material adverse effect on our operating results,
dilute our stockholders&rsquo; ownership, increase our debt or cause us to incur significant expense.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our success depends on our ability to continually
enhance and broaden our service offerings in response to changing customer demands, competitive pressures, technologies, and market
pressures. Accordingly, from time to time we may consider opportunities to acquire, make investments in or license other technologies
and businesses that may enhance our capabilities, complement our current services, or expand the breadth of our markets or customer
base. Potential and completed acquisitions, strategic investments, licenses, and other alliances involve numerous risks, including:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">difficulty assimilating or integrating acquired or licensed technologies or business operations;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">issues maintaining uniform standards, procedures, controls, and policies;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">unanticipated costs associated with acquisitions or strategic alliances, including the assumption of unknown or contingent liabilities and the incurrence of debt or future write-offs of intangible assets or goodwill;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">diversion of management&rsquo;s attention from our core business and disruption of ongoing operations;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">adverse effects on existing business relationships with customers;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">risks associated with entering new markets in which we have limited or no experience;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">potential losses related to investments in other companies;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">potential loss of key employees of acquired businesses; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">increased legal and accounting compliance costs.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We do not know if we will be able to identify
acquisitions or strategic relationships, we deem suitable, whether we will be able to successfully complete any such transactions
on favorable terms, or at all, whether we will be able to successfully integrate any acquired business or technology into our business,
or retain any key personnel, suppliers or distributors. Our ability to successfully grow through strategic transactions depends
upon our ability to identify, negotiate, complete, and integrate suitable target businesses or technologies and to obtain any necessary
financing. These efforts could be expensive and time-consuming and may disrupt our ongoing business and prevent management from
focusing on our operations. As a result of any such failures, the price of our common stock may be affected adversely.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">To finance any acquisitions, investments or
strategic alliances, we may choose to issue shares of our common stock as consideration, which could dilute the ownership of our
stockholders. Additional funds may not be available on terms that are favorable to us, or at all. If the price of our common stock
is low or volatile, we may be unable to consummate any acquisitions, investments or strategic alliances using our stock as consideration.
Furthermore, the market may look negatively upon the proposed issuance, and the resulting dilutive effect upon our common stock
which could then further negatively affect our stock price.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>We may be subject to securities litigation, which is expensive
and could divert our management&rsquo;s attention.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The market price of our securities may be volatile,
and in the past companies that have experienced volatility in the market price of their securities have been subject to securities
class action litigation. We may be the target of this type of litigation in the future. Securities litigation against us could
result in substantial costs and divert our management&rsquo;s attention from other business concerns.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If there is no viable public market
for our common stock, you may be unable to sell your shares at or above the initial public offering price.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Prior to this offering there has been no public
market for shares of our common stock. Although we expect our common stock will be approved for listing on the Nasdaq Capital Market,
an active trading market for our shares may never develop or be sustained following this offering. You may be unable to sell your
shares quickly or at the market price if trading in shares of our common stock is not active. The initial public offering price
for our common stock will be determined through negotiations with the underwriters, and the negotiated price may not be indicative
of the market price of the common stock after the offering. As a result of these and other factors, you may be unable to resell
your shares of our common stock at or above the initial public offering price. Further, an inactive market may also impair our
ability to raise capital by selling shares of our common stock and may impair our ability to enter into strategic partnerships
or acquire companies by using our shares of common stock as consideration.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If our common stock is listed on&nbsp;the Nasdaq Capital Market,
we must meet certain financial and liquidity criteria to maintain such listing. If we violate the maintenance requirements for
continued listing of our common stock, our common stock may be delisted. In addition, our board may determine that the cost of
maintaining our listing on a national securities exchange outweighs the benefits of such listing. A delisting of our common stock
from&nbsp;the Nasdaq Capital Market may materially impair our stockholders&rsquo; ability to buy and sell our common stock and
could have an adverse effect on the market price of, and the efficiency of the trading market for, our common stock. In addition,
the delisting of our common stock could significantly impair our ability to raise capital.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>This offering has not been reviewed by
independent professionals.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have not retained any independent professionals
to review or comment on this prospectus or otherwise protect the interest of the investors hereunder. Although we have retained
our own counsel, neither such counsel nor any other counsel has made, on behalf of the investors, any independent examination of
any factual matters represented by management herein. Therefore, for purposes of making a decision to purchase our common stock,
you should not rely on our counsel with respect to any matters herein described. Prospective investors are strongly urged to rely
on the advice of their own legal counsel and advisors in making a determination to purchase our shares of common stock.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our failure to maintain effective internal
controls over financial reporting could have an adverse impact on us</I>.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are required to establish and maintain appropriate
internal controls over financial reporting. Failure to establish those controls, or any failure of those controls once established,
could adversely impact our public disclosures regarding our business, financial condition, or results of operations. In addition,
management&rsquo;s assessment of internal controls over financial reporting may identify weaknesses and conditions that need to
be addressed in our internal controls over financial reporting or other matters that may raise concerns for investors. Any actual
or perceived weaknesses and conditions that need to be addressed in our internal control over financial reporting, disclosure of
management&rsquo;s assessment of our internal controls over financial reporting or disclosure of our public accounting firm&rsquo;s
attestation to or report on management&rsquo;s assessment of our internal controls over financial reporting may have an adverse
impact on the price of our common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A control system, no matter how well conceived
and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. In addition,
the design of a control system must reflect the fact that there are resource constraints, and the benefit of controls must be relative
to their costs. Because of the inherent limitations in all control systems, no system of controls can provide absolute assurance
that all control issues and instances of fraud, if any, within our Company have been detected. These inherent limitations include
the realities that judgments in decision-making can be faulty and that breakdowns can occur because of simple error or mistake.
Further, controls can be circumvented by individual acts of some persons, by collusion of two or more persons, or by management
override of the controls. The design of any system of controls is also based in part upon certain assumptions about the likelihood
of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential
future conditions. Over time, a control may become inadequate because of changes in conditions or the degree of compliance with
policies or procedures may deteriorate. Because of inherent limitations in a cost-effective control system, misstatements due to
error or fraud may occur and may not be detected.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">At present, we believe
that we have effective internal controls in place. However, our management, including our Chief Executive Officer, cannot guarantee
that our internal controls and disclosure controls that we have in place will prevent all possible errors, mistakes, or all fraud.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B><I>Our financial
controls and procedures may not be sufficient to ensure timely and reliable reporting of financial information, which, as a public
company, could materially harm our stock price.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">We require significant
financial resources to maintain our public reporting status. We cannot assure you we will be able to maintain adequate resources
to ensure that we will not have any future material weakness in our system of internal controls. The effectiveness of our controls
and procedures may in the future be limited by a variety of factors including:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">faulty human judgment and simple errors, omissions, or mistakes;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2.25pt; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">fraudulent action of an individual or collusion of two or more people;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2.25pt; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">inappropriate management override of procedures; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2.25pt; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the possibility that any enhancements to controls and procedures may still not be adequate to assure timely and accurate financial information.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Our internal control
over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles in
the United States of America. Our internal control over financial reporting includes those policies and procedures that (i) pertain
to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the
assets of the Company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial
statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being
made only in accordance with authorizations of management and directors of the Company; and (iii) provide reasonable assurance
regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company&rsquo;s assets that could
have a material effect on the financial statements.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Despite these controls,
because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Therefore,
even those systems determined to be effective can provide only reasonable assurance of achieving their control objectives. Furthermore,
smaller reporting companies like us face additional limitations. Smaller reporting companies employ fewer individuals and can find
it difficult to employ resources for complicated transactions and effective risk management. Additionally, smaller reporting companies
tend to utilize general accounting software packages that lack a rigorous set of software controls.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">If we fail to have
effective controls and procedures for financial reporting in place, we could be unable to provide timely and accurate financial
information and be subject to investigation by the Securities and Exchange Commission and civil or criminal sanctions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B><I>We must implement
additional and expensive procedures and controls to grow our business and organization and to satisfy new reporting requirements,
which will increase our costs and require additional management resources.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Upon becoming a fully
public reporting company, we will be required to comply with the Sarbanes-Oxley Act of 2002 (the &ldquo;Sarbanes-Oxley Act&rdquo;)
and the related rules and regulations of the SEC, including the requirements that we maintain disclosure controls and procedures
and adequate internal control over financial reporting. Compliance with the Sarbanes-Oxley Act and other SEC and national exchange
requirements will increase our costs and require additional management resources. We recently have begun upgrading our procedures
and controls and will need to continue to implement additional procedures and controls as we grow our business and organization
and to satisfy new reporting requirements. If we are unable to complete the required assessment as to the adequacy of our internal
control over financial reporting, as required by Section 404 of the Sarbanes-Oxley Act or if we fail to maintain internal control
over financial reporting, our ability to produce timely, accurate and reliable periodic financial statements could be impaired.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">If we do not maintain
adequate internal control over financial reporting, investors could lose confidence in the accuracy of our periodic reports filed
under the Exchange Act. Additionally, our ability to obtain additional financing could be impaired or a lack of investor confidence
in the reliability and accuracy of our public reporting could cause our stock price to decline.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B><I>We are an &ldquo;emerging
growth company&rdquo; under the JOBS Act of 2012 and we cannot be certain if the reduced disclosure requirements applicable to
emerging growth companies will make our common stock less attractive to investors.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">We are an &ldquo;emerging
growth company,&rdquo; as defined in the Jumpstart Our Business Startups Act of 2012 (the &ldquo;JOBS Act&rdquo;), and we may take
advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not
&ldquo;emerging growth companies&rdquo; including, but not limited to, not being required to comply with the auditor attestation
requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic
reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation
and shareholder approval of any golden parachute payments not previously approved. We cannot predict if investors will find our
common stock less attractive because we may rely on these exemptions. If some investors find our common stock less attractive as
a result, there may be a less active trading market for our common stock and our stock price may be more volatile.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In addition,
Section 107 of the JOBS Act also provides that an &ldquo;emerging growth company&rdquo; can take advantage of the extended
transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting
standards. In other words, an &ldquo;emerging growth company&rdquo; can delay the adoption of certain accounting standards
until those standards would otherwise apply to private companies. We are choosing not to take advantage of the extended
transition period for complying with new or revised accounting standards.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">We will remain an
&ldquo;emerging growth company&rdquo; until the last day of the fiscal year following the fifth anniversary of the date of the
first sale of our common stock pursuant to an effective registration statement under the Securities Act, although we will lose
that status sooner if our revenues exceed $1.07 billion, if we issue more than $1 billion in non-convertible debt in a three year
period, or if the market value of our common stock that is held by non-affiliates exceeds $700 million as of the last day of our
most recently completed second fiscal quarter.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B><I>Our status as
an &ldquo;emerging growth company&rdquo; under the JOBS Act may make it more difficult to raise capital as and when we need it.</I></B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Because of the
exemptions from various reporting requirements provided to us as an &ldquo;emerging growth company&rdquo;, we may be less attractive
to investors and it may be difficult for us to raise additional capital as and when we need it. Investors may be unable to compare
our business with other companies in our industry if they believe that our financial accounting is not as transparent as other
companies in our industry. If we are unable to raise additional capital as and when we need it, our financial condition and results
of operations may be materially and adversely affected.</P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B><I>We have not
paid dividends in the past and do not expect to pay dividends in the future, and any return on investment may be limited to the
value of our stock.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have never paid cash dividends on our common
stock and do not anticipate paying cash dividends on our common stock in the foreseeable future. We currently intend to retain
any future earnings to support the development of our business and do not anticipate paying cash dividends in the foreseeable future.
Our payment of any future dividends will be at the discretion of our board of directors after considering various factors, including,
but not limited to, our financial condition, operating results, cash needs, growth plans and the terms of any credit agreements
that we may be a party to at the time. In addition, our ability to pay dividends on our common stock may be limited by Nevada state
law. Accordingly, investors must rely on sales of their common stock after price appreciation, which may never occur, as the only
way to realize a return on their investment. Investors seeking cash dividends should not purchase our common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The elimination of personal liability
against our directors and officers under Nevada law and the existence of indemnification rights held by our directors, officers
and employees may result in substantial expenses.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our articles of incorporation and our bylaws
eliminate the personal liability of our directors and officers to us and our stockholders for damages for breach of fiduciary duty
as a director or officer to the extent permissible under Nevada law. Further, our articles of incorporation and our bylaws provide
that we are obligated to indemnify each of our directors or officers to the fullest extent authorized by Nevada law and, subject
to certain conditions, advance the expenses incurred by any director or officer in defending any action, suit or proceeding prior
to its final disposition. Those indemnification obligations could expose us to substantial expenditures to cover the cost of settlement
or damage awards against our directors or officers, which we may be unable to afford. Further, those provisions and resulting costs
may discourage us or our stockholders from bringing a lawsuit against any of our current or former directors or officers for breaches
of their fiduciary duties, even if such actions might otherwise benefit our stockholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Provisions in Nevada law may have an
anti-takeover effect.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Nevada corporate statutes contain provisions
designed to protect Nevada corporations and employees from the adverse effects of hostile corporate takeovers. These statutory
provisions reduce the possibility that a third party could effect a change in control without the support of our incumbent directors
and may also strengthen the position of current management by restricting the ability of shareholders to change the composition
of the Board, to affect its policies generally and to benefit from actions that are opposed by the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>You should consult your own independent
tax advisor regarding any tax matters arising with respect to the securities offered in connection with this offering.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Participation in this offering could result
in various tax-related consequences for investors. All prospective purchasers of the resold securities are advised to consult their
own independent tax advisors regarding the U.S. federal, state, local and non-U.S. tax consequences relevant to the purchase, ownership,
and disposition of the resold securities in their particular situations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>IRS CIRCULAR 230 DISCLOSURE: TO ENSURE COMPLIANCE
WITH REQUIREMENTS IMPOSED BY THE INTERNAL REVENUE SERVICE, WE INFORM YOU THAT ANY U.S. TAX ADVICE CONTAINED HEREIN (INCLUDING ANY
ATTACHMENTS) IS NOT INTENDED OR WRITTEN TO BE USED, AND CANNOT BE USED, FOR THE PURPOSE OF AVOIDING PENALTIES UNDER THE INTERNAL
REVENUE CODE. IN ADDITION, ANY U.S. TAX ADVICE CONTAINED HEREIN (INCLUDING ANY ATTACHMENTS) IS WRITTEN TO SUPPORT THE &ldquo;PROMOTION
OR MARKETING&rdquo; OF THE MATTER(S) ADDRESSED HEREIN. YOU SHOULD SEEK ADVICE BASED ON YOUR PARTICULAR CIRCUMSTANCES FROM YOUR
OWN INDEPENDENT TAX ADVISOR.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>IN ADDITION TO THE ABOVE RISKS, BUSINESSES
ARE OFTEN SUBJECT TO RISKS NOT FORESEEN OR FULLY APPRECIATED BY MANAGEMENT. IN REVIEWING THIS FILING, POTENTIAL INVESTORS SHOULD
KEEP IN MIND THAT OTHER POSSIBLE RISKS MAY ADVERSELY IMPACT THE COMPANY&rsquo;S BUSINESS OPERATIONS AND THE VALUE OF THE COMPANY&rsquo;S
SECURITIES.</B></P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_005"></A>SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This prospectus contains &ldquo;forward-looking
statements.&rdquo; The forward-looking statements are contained principally in the sections entitled &ldquo;<I>Prospectus Summary</I>,&rdquo;
&ldquo;<I>Risk Factors</I>,&rdquo; &ldquo;<I>Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</I>&rdquo;
and &ldquo;<I>Business</I>.&rdquo; Forward-looking statements reflect the current view about future events. When used in this prospectus,
the words &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;future,&rdquo;
&ldquo;intend,&rdquo; &ldquo;plan,&rdquo; or the negative of these terms and similar expressions, as they relate to us or our management,
identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this prospectus
relating to our business strategy, our future operating results and liquidity and capital resources outlook. Forward-looking statements
are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because
forward&ndash;looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances
that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements.
They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against
relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from
those in the forward-looking statements include, without limitation:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-size: 10pt">1.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Our ability to effectively operate our business segments;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-size: 10pt">2.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Our ability to manage our research, development, expansion, growth and operating expenses;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-size: 10pt">3.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Our ability to evaluate and measure our business, prospects and performance metrics;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-size: 10pt">4.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Our ability to compete, directly and indirectly, and succeed in the highly competitive transportation industry;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-size: 10pt">5.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Our ability to respond and adapt to changes in technology and customer behavior;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-size: 10pt">6.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Our ability to protect our intellectual property and to develop, maintain and enhance a strong brand; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-size: 10pt">7.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Other factors (including the risks contained in the section of this prospectus entitled &ldquo;<I>Risk Factors</I>&rdquo;) relating to our industry, our operations and results of operations.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Should one or more of these risks or uncertainties
materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated,
believed, estimated, expected, intended or planned.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The forward-looking statements made in this
prospectus relate only to events or information as of the date on which the statements are made in this prospectus.&nbsp; Factors
or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict
all of them. We cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable
law, including the securities laws of the United States, we do not intend to update or otherwise revise any of the forward-looking
statements in this prospectus to conform these statements to actual results.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_006"></A>USE
OF PROCEEDS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We estimate that we will receive net proceeds
of approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (or approximately&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
if the underwriters&rsquo; option to purchase additional shares is exercised in full) from the sale of the common stock offered
by us in this offering, based on public offering price of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
per share, which is the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus,
and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The principal purposes of this offering are
to increase our capitalization and financial flexibility, increase our visibility in the marketplace and create a public market
for our common stock. As of the date of this prospectus, we cannot specify with certainty all of the particular uses for the net
proceeds to us from this offering. However, we currently intend to use the net proceeds to us from this offering for proprietary
technology development, acquisitions, general corporate and working capital purposes. While we expect to use the net proceeds for
the purposes described above, the timing and amount of our actual expenditures will be based on many factors, including cash flows
from operations, the anticipated growth of our business and the general economic conditions</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We will retain broad discretion in the allocation
of the net proceeds from this offering and could utilize the proceeds in ways that do not necessarily improve our results of operations
or enhance the value of our common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The table below sets forth the manner in which
we expect to use the net proceeds we receive from this offering. All amounts included in the table below are estimates.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 87%"><FONT STYLE="font-size: 10pt">Proprietary Technology Development</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">Acquisitions</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">General Corporate and Working Capital Purposes</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">Total</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The foregoing information is an estimate based
on our current business plan. We may find it necessary or advisable to re-allocate portions of the net proceeds reserved for one
category to another, and we will have broad discretion in doing so. Pending these uses, we intend to invest the net proceeds of
this offering in a money market or other interest-bearing account.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The foregoing information is an estimate based
on our current business plan. We may find it necessary or advisable to re-allocate portions of the net proceeds reserved for one
category to another, and we will have broad discretion in doing so. Pending these uses, we intend to invest the net proceeds of
this offering in a money market or other interest-bearing account. See &ldquo;<I>Risk Factors&mdash; Risks Related to this Offering
and Ownership of our Common Stock&mdash; Our management will have broad discretion over the use of any net proceeds from this offering
and you may not agree with how we use the proceeds, and the proceeds may not be invested successfully.&rdquo;</I></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have not declared any cash dividends since
inception, and we do not anticipate paying any dividends in the foreseeable future. Instead, we anticipate that all of our earnings
will be used to provide working capital, to support our operations, and to finance the growth and development of our business,
including potentially the acquisition of, or investment in, businesses, technologies or services that complement our existing business.
The payment of dividends is within the discretion of the Board and will depend on our earnings, capital requirements, financial
condition, prospects and applicable Nevada law. There are no restrictions that currently limit our ability to pay dividends on
our common stock other than those generally imposed by applicable state law. See also &ldquo;<I>Risk Factors&mdash;Risks Relating
to this Offering and Ownership of Our Common Stock&mdash;We have not paid dividends in the past and do not expect to pay dividends
in the future.&rdquo;</I></P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_008"></A>CAPITALIZATION</B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth our combined
cash and capitalization, as of March 31, 2022. Such information is set forth on the following basis:</P>



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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">on an actual basis; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: .25in">&nbsp;</TD>
    <TD STYLE="width: .25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">on a pro forma basis to reflect our receipt of the net proceeds of our sale and issuance of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock in this offering at an assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share (the midpoint of the price range set forth on the front cover page of this prospectus), after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us and after the use of net proceeds therefrom (assuming no exercise by the underwriters of their option to purchase additional shares from us).</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The pro forma information below is illustrative
only and our capitalization following the completion of this offering is subject to adjustment based on the public offering price
of the shares and other terms of this offering determined at pricing. You should read the following table in conjunction with &ldquo;<I>Use
of Proceeds</I>,&rdquo; &ldquo;<I>Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</I>&rdquo;
and our financial statements and related notes included in this prospectus.</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Actual</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Pro forma<SUP>(1)</SUP>&nbsp;&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; font-weight: bold; padding-bottom: 2.5pt">Cash</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">326,322</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Long-term debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Subordinated debt payable to related party<B><SUP>(2)</SUP></B></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,516,895</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Total long-term debt</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,516,895</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Stockholders&rsquo; equity:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Preferred stock, $0.001 par value, 20,000,000 shares authorized; <BR>2,000 shares issued and outstanding, actual and pro forma</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Common stock, $0.001 par value,180,000,000 shares authorized; <BR>30,000,000 shares issued and outstanding, actual;&nbsp;shares issued <BR>and outstanding, pro forma</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Retained earnings</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">400,464</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total stockholders&rsquo; equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">430,466</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total capitalization</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">430,466</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(1) Does not include:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
shares of our common stock issuable upon exercise of the underwriter&rsquo;s warrants</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.75in">(&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares
if the underwriters&rsquo; over-allotment option is exercised in full).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(2) Includes the funds drawn against the note
issued by eCommerce Funding to SWL Investments LP, which is owned and operated by S. Whitfield Lee, our Chairman, Chief Executive
Officer and President. For further details please see &ldquo;<I>Certain Relationships and Related Party Transactions</I>&rdquo;.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Each $1.00 increase or decrease in the assumed
initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per
share (which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus), assuming no
change in the number of shares to be sold, would increase or decrease the pro forma as adjusted cash and cash equivalents, additional
paid-in capital and total stockholders&rsquo; equity by approximately $ , after deducting estimated underwriting discounts and
commissions and estimated offering expenses payable by us.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_009"></A>DILUTION</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">If you invest in our
common stock in this offering, your ownership interest will be diluted to the extent of the difference between the assumed initial
public offering price per share of our common stock and the pro forma as adjusted net tangible book value per share of our common
stock immediately after this offering.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The historical net tangible book value of our common stock as of March
31, 2022, was&nbsp;$30,000&nbsp;or $0.001 per share. Historical net tangible book value per share of our common stock represents our total
tangible assets (total assets less intangible assets) less total liabilities divided by the number of shares of our common stock outstanding
as of that date. After giving effect to the sale of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
shares in this offering at an initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per
share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, our pro forma net tangible
book value as of March 31, 2022 would have been $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;or
approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;per share of our
common stock. This represents an immediate increase in as adjusted pro forma, net tangible book value per share of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
the existing stockholders and an immediate dilution in as adjusted pro forma net tangible book value per share of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
new investors who purchase shares of our common stock in the offering. The following table illustrates this per share dilution to new
investors:</P>



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

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


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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%">Assumed initial public offering price per share</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left"></TD><TD STYLE="width: 10%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in">Historical net tangible book value per share as of March 31, 2022</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">0.001</P></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Increase in pro forma net tangible book value per share attributable to new investors purchasing shares in this offering</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Pro forma net tangible book value per share after this offering</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Dilution per share to new investors purchasing shares in this offering</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right"></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the underwriters exercise their option
to purchase&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;additional shares in full,
the pro forma as adjusted net tangible book value of our common stock after this offering would be $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
per share, representing an immediate increase in net tangible book value of approximately $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
per share to existing stockholders and an immediate dilution of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
per share to the investors in this offering, after deducting the underwriting discount and estimated offering expenses payable
by us.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may choose to raise additional capital
due to market conditions or strategic considerations even if we believe we have sufficient funds for our current or future operating
plans. To the extent that additional capital is raised through the sale of equity or convertible debt securities, the issuance
of these securities may result in further dilution to our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 following table sets forth the total
number of shares of common stock previously issued and sold to the existing stockholder, the total consideration paid for the foregoing
and the average price per share of common stock paid, or to be paid, by the existing stockholder and by the new investors. The
calculation below is based on the assumed initial public offering price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
per share, which is the midpoint of the estimated offering range set forth on the cover page of this prospectus, before deducting
estimated underwriter commissions and offering expenses, in each case payable by us.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Shares Purchased</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total Consideration</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percent</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percent</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Per Share</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left">Existing stockholders</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">New Investors</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_010"></A>MANAGEMENT&rsquo;S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Certain statements made in this prospectus
are &ldquo;forward-looking statements&rdquo; regarding the plans and objectives of management for future operations. Such statements
involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of
the &ldquo;Company&rdquo; to be materially different from any future results, performance or achievements expressed or implied
by such forward-looking statements. The forward-looking statements included herein are based on current expectations that involve
numerous risks and uncertainties. The Company&rsquo;s plans and objectives are based, in part, on assumptions involving the continued
expansion of business. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic,
competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately
and many of which are beyond the control of the Company. Although the Company believes its assumptions underlying the forward-looking
statements are reasonable, any of the assumptions could prove inaccurate and therefore, there can be no assurance the forward-looking
statements included in this prospectus will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking
statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any
other person that the objectives and plans of the Company will be achieved. Our actual results may differ materially from those
anticipated in these&nbsp;forward-looking&nbsp;statements as a result of various factors, including those set forth under &ldquo;Risk
Factors&rdquo; and in other parts of this prospectus. Our fiscal year ends on December&nbsp;31.</I></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We operate a freight brokerage and transportation
business, providing comprehensive transportation management solutions for shippers and carriers.&nbsp;Headquartered in Salt Lake
City, Utah. we deliver a one-stop freight management platform that connects shippers with truckers to facilitate shipments across
distance ranges, cargo weights, and types. We deliver value-driven logistics solutions powered by effective technology and distinguished
by personalized service built on solid relationships. We are building a next-generation digital freight platform that we believe
will transform the highly fragmented $1 trillion transportation and logistics sector.&nbsp;</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Logistics is the lifeblood of our economy,
powering the movement of goods and connecting the engines of production and consumption. We aspire to revolutionize logistics,
improve efficiency across the value and supply chain and reduce the carbon footprint for our planet. Our goal is to leverage technology
to eliminate inefficiencies and create economic opportunity across the freight ecosystem. Our team is comprised of innovators seeking
to build the best products for all parties in the freight industry and to provide shippers and carriers with unparalleled transparency.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also operate a next-generation, end-to-end
cloud-based financing platform for small and medium sized companies primarily in the e-commerce marketplace. &nbsp;By combining
industry-leading technology and security with the expertise and care of our team, we serve e-commerce business owners nationwide
with efficiency, simplicity, transparency and reliability by providing alternative financial products to help them grow.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are also in the process of developing
proprietary mobile applications and other transportation financial products which can be used by shippers, carriers and other freight
brokers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our transportation business is operated
through our wholly owned subsidiary, LeeWay Transportation, which operates through its two operating subsidiaries, Leeway Global
Logistics and LeeWay Freight Lines. Our specialty financial services business is operated through our wholly owned subsidiary,
LeeWay Capital.</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>Marketplace Challenges</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have proven our ability to grow both
revenue and gross margin throughout a variety of challenging market environments. Our convincing performance proved the resiliency
of our business model in 2020 and 2021 when we grew revenue by 68% for the year ended December 31, 2020 and 101% for the year ended
December 31, 2021, despite the market challenges presented by supply side problems and COVID-19. This momentum has carried into
2022, with the first three months showing a 167% increase over the first three months of 2021. We believe we are well positioned
to continue this vigorous growth into the future, given the robust demand in the market and our deepening relationships with new
and existing shippers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although it is difficult to predict the
effect and ultimate impact of the COVID-19 pandemic on our business, the impact of COVID-19 could adversely affect our results
of operations, financial condition and cash flows in fiscal year 2022.</P>



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

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


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Principal Factors Affecting Our Financial Performance</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">Our operating results are primarily affected by the following
factors:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">our ability to acquire new customers or retain existing customers;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">our ability to offer competitive pricing;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">our ability to broaden product and service offerings;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">industry demand and competition; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">market conditions and our market position.</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"><B>Segments</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We report segment information consistent
with our two major operations: transportation and financing. The transportation segment includes revenues and costs related to
our transportation brokerage operation. The financing segment includes revenues and costs related to the providing of financing
to individuals and entities that sell products on various sales platforms, such as Amazon, Walmart and Shopify. All business activity
is confined to the continental United States, and as such there is no breakout between domestic and international revenues and
expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>Results of Operations</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Comparison of Three Months Ended
March 31, 2022 and 2021</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth key components
of our results of operations during the three month periods ended March 31, 2022 and 2021, both in dollars and as a percentage
of our revenues.</P>



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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="font-weight: bold; text-align: center">For the Three Months Ended</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">March 31, 2022</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">March 31, 2021</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15pt; text-align: center"><B>% of</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Revenues</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15pt; text-align: center"><B>% of</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Revenues</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Revenues</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 48%; text-align: left; padding-left: 9pt">Transportation income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">12,082,377</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">98.76</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">4,451,434</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">97.00</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Financing service income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">151,347</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1.24</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">137,647</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3.00</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total revenue</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,233,724</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100.00</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,589,081</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100.00</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Cost of goods sold</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Transportation costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,633,516</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">78.74</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,901,746</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">85.02</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Financing costs</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">71,961</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.59</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">29,655</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.65</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total cost of goods sold</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,705,477</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">79.33</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,931,401</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">85.67</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Gross profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,528,247</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20.67</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">657,680</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14.33</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Operating expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Payroll and consultants</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,251,623</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.23</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">408,187</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.89</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Sales and marketing</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">85,996</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.70</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">63,943</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.39</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">General and administrative</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">254,576</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.08</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">123,337</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.69</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt">Depreciation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">35,667</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.29</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,664</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.19</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total operating expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,627,862</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">13.31</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">604,131</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">13.16</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Income from operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">900,385</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.36</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">53,549</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.17</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Interest expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.00</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(6,475</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(0.14</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Income before income tax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">900,385</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.36</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47,074</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.03</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Income tax expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.00</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.00</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net income</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">900,385</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7.36</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">47,074</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1.03</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>




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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Revenues</U></I>. Our total revenues
increased by $7,644,643, or 167%, to $12,233,724 for the three months ended March 31, 2022, compared to $4,589,081 for the three
month period ended March 31, 2021. Such increase was primarily due to the fact that we have earned a larger percent of business
from our two largest customers, which attests to the strong relationships developed with each customer and the level of service
we have provided them.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our transportation segment generates revenue
from contracting with carriers to meet freight hauling delivery needs of our customers. Revenues from the transportation segment
were $12,082,377, or 98.76% of our total revenues, for the three months ended March 31, 2022, as compared to $4,451,434, or 97.00%
of total revenues, for the three months ended March 31, 2021, an increase of $7,630,943, or 171%. Such increase resulted from both
an increase in demand for services and increased pricing due to supply and demand and surcharges to compensate for increased fuel
costs.</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our financing segment generates revenue
from fees charged for funds advanced to our customers. Revenues from the financing segment were $151,347, or 1.24% of our total
revenues, for the three months ended March 31, 2022, as compared to $137,647, or 3% of total revenues, for the comparable period
in 2021, an increase of $13,700, or 9.95%. Such increase was due to a consumer shift from buying from brick and mortar stores to
on-line buying, and a concurrent increase in the number of on-line sellers and thus the seller base needing funding for inventories
and/or working capital.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Cost of goods sold</U></I>. Our total
cost of goods sold increased by $5,774,076, or 147%, to $9,705,477 for the three months ended March 31, 2022 from $3,931,401 for
the comparable period in 2021. As a percentage of revenues, cost of goods sold decreased from 85.67% in 2021 to 79.33% in 2022.
Cost of sales are direct expenses, as a carrier must be contracted and paid for each shipment. Thus, there is a direct relationship
between revenue and cost of sales. As sales increase, there is a related increase in the cost of sales. Our objective is to contract
a carrier to deliver the order at no more than 85% of the fee we receive from our customer for the service, providing a minimum
gross margin of 15%.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of goods sold for the transportation
segment consists of the fees paid to motor carrier lines and independent owner/operators for the delivery of freight contracted.
Cost of goods sold for the transportation segment increased by $5,731,770, or 146.90%, to $9,633,516 for the three month period
ended March 31, 2022 from $3,901,746 for the three months ended March 31, 2021. Such increase was due to the increased volume of
goods transported. As a percentage of transportation revenues, cost of goods sold for the transportation segment was 79.73% and
87.65% for the three months ended March 31, 2022 and 2021, respectively. The increased profit margin resulted from the shortage
of trucks which resulted in increased rates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of goods sold for the financing segment
consist of the cost of capital obtained to fund the agreements entered into with customers. Cost of goods sold for the financing
segment increased by $42,306, or 142.66%, to $71,961 for the three months ended March 31, 2022 from $29,655 for the same period
in 2021. Such increase was due to interest costs on funds borrowed to support the growth in funds deployed to customers. As
a percentage of financing revenues, cost of goods sold for the financing segment was 47.55% and 21.54% for the three months ended
March 31, 2022 and 2021, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Gross profit</U></I>. As a result
of the foregoing, our gross profit increased by $1,870,567, or 284.42%, to $2,528,247 for the three months ended March 31, 2022
from $657,680 for the three months ended March 31, 2021. As a percentage of revenues, our gross profit increased from 14.33% in
2021 to 20.67% in 2022.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gross profit from the transportation segment
increased by $1,899,173, or 345.50%, to $2,448,861 for the three months ended March 31, 2022 from $549,688 for the same period
in 2021. Such increase was due to the increased level of loads contracted, coupled with higher rates as referenced above. As a
percentage of transportation revenues, gross profit for the transportation segment was 20.26% and 12.35% for the three months ended
March 31, 2022 and 2021, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gross profit from the financing segment
decreased by $28,606, or 26.49%, to $79,386 for the three month period ended March 31, 2022 from $107,992 for the same period in
2021. Such decrease was due to increased financing costs to obtain the funds employed. As a percentage of financing revenues, gross
profit for the financing segment was 52.45% and 78.46% for the three months ended March 31, 2022 and 2021, respectively.</P>

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

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

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Payroll and consultant expenses</U></I>.
Our payroll and consultant expenses consist primarily of personnel expenses, including employee salaries and bonuses, plus related
payroll taxes, and consultant fees. Our payroll and consultant expenses increased by $843,436, or 206.63%, to $1,251,623 for the
three months ended March 31, 2022 from $408,187 for the same period in 2021. The increase was primarily due to increased personnel
to manage our business growth. As a percentage of revenues, payroll and consultant expenses increased from 8.89% in 2021 to 10.23%
in 2022.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Sales and marketing expenses</U></I>.
Our sales and marketing expenses consists primarily of advertising. Our sales and marketing expenses increased by $22,053, or 34.48%,
to $85,996 for the three months ended March 31, 2022 from $63,943 for the three months ended March 31, 2021. The increase was primarily
due to an increased advertising budget to attract additional customers. As a percentage of revenues, sales and marketing expenses
decreased from 1.39% in 2021 to 0.70% in 2022.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>General and administrative expenses</U></I>.
Our general and administrative expenses consist primarily of rent and related office expenses. Our general and administrative expenses
increased by $131,239, or 106.41%, to $254,576 for the three months ended March 31, 2022 from $123,337 for the comparable period
in 2021. The increase was primarily due to upgrades in facilities and rent and common area increases. As a percentage of revenues,
general and administrative expenses decreased from 2.69% in 2021 to 2.08% in 2022.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Depreciation</U></I>. Depreciation
was $35,667, or 0.29% of revenues, for the three month period ended March 31, 2022, as compared to $8,664, or 0.19% of revenues,
for the three months ended March 31, 2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Interest expense</U></I>. Interest
expense was $-0- and $6,475, or 0.00% and 0.14%, respectively, of revenues, for the three months ended March 31, 2022 and 2021,
respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Net income</U></I>. As a result of
the cumulative effect of the factors described above, we had a net income of $900,385 for the three months ended March 31, 2022,
as compared to $47,074 for the three months ended March 31, 2021, an increase of $853,311, or 1,812.70%.</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"><B><I>Comparison of Years Ended December
31, 2021 and 2020</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth key components
of our results of operations during the years ended December 31, 2021 and 2020, both in dollars and as a percentage of our revenues.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>December 31, 2021</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>December 31, 2020</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15pt; text-align: center"><B>% of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Revenues</B></P></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15pt; text-align: center"><B>% of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Revenues</B></P></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">Revenues</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 48%; padding-left: 9pt"><FONT STYLE="font-size: 10pt">Transportation income</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 10pt">27,316,857</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 10pt">97.92</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 10pt">13,471,155</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 10pt">96.83</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 10pt">Financing service income</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">580,647</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">2.08</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">440,385</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">3.17</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">Total revenue</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">27,897,504</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">100.00</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">13,911,540</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">100.00</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">Cost of goods sold</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-size: 10pt">Transportation costs</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">23,377,335</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">83.80</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">11,773,778</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">84.63</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 10pt">Financing costs</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">147,934</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">0.53</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">105,171</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">0.76</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Total cost of goods sold</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">23,525,269</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">84.33</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">11,878,949</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">85.39</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">Gross profit</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">4,372,235</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">15.67</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2,032,591</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">14.61</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">Operating expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-size: 10pt">Payroll and consultants</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2,166,425</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">7.77</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,276,964</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">9.18</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-size: 10pt">Sales and marketing</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">474,084</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1.70</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">265,321</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1.91</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt"><FONT STYLE="font-size: 10pt">General and administrative</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">541,684</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1.94</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">323,840</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2.33</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 10pt">Depreciation</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">48,610</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">0.17</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">26,662</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">0.19</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Total operating expenses</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">3,230,803</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">11.58</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">1,892,787</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">13.61</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">Income from operations</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,141,432</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">4.09</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">139,804</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1.00</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">Gain on PPP loan forgiveness</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">208,446</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0.75</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0.00</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Interest expense</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">(39,639</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">(0.14</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">)%</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">(3,851</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">(0.03</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">)%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">Income before income tax</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,310,239</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">4.70</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">135,953</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">0.98</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Income tax expense</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">352,818</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">1.26</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">77,375</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">0.56</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">Net income</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">957,421</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">3.44</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">58,578</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">0.42</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
</TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Revenues</U></I>. Our total revenues
increased by $13,985,964, or 101%, to $27,897,504 for the year ended December 31, 2021, compared to $13,911,540 for the year ended
December 31, 2020. Revenue from our two largest customers increased by $12,951,369 in 2021 as compared to 2020. The fact that each
of those customers has awarded us a larger portion of their business attests to the strengthened relationships developed with each
customer and the level of service provided them.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenues from the transportation segment
were $27,316,857, or 97.92% of our total revenues, for the year ended December 31, 2021, as compared to $13,471,155, or 96.83%
of total revenues, for the year ended December 31, 2020, an increase of $13,845,702, or 103%. Such increase was due to both to
an increase in demand for services and increased pricing due to supply and demand.</P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenues from the financing segment were
$580,647, or 2.08% of our total revenues, for the year ended December 31, 2021, as compared to $440,385, or 3.17% of total revenues,
for the year ended December 31, 2020, an increase of $140,262, or 31.85%. Such increase was due to a consumer shift from buying
from brick and mortar stores to on-line buying, and a concurrent increase in the number of on-line sellers and thus the seller
base needing funding for inventories and/or working capital.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Cost of goods sold</U></I>. Our total
cost of goods sold increased by $11,646,320, or 98%, to $23,525,269 for the year ended December 31, 2021 from $11,878,949 for the
year ended December 31, 2020. As a percentage of revenues, cost of goods sold decreased from 85.39% in 2020 to 84.33% in 2021.
Cost of sales are direct expenses, as a carrier must be contracted and paid for each shipment. Thus, there is a direct relationship
between revenue and cost of sales. As sales increase, there is a related increase in the cost of sales. Our objective is to contract
a carrier to deliver the order at no more than 85% of the fee we receive from our customer for the service, providing a minimum
gross margin of 15%.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of goods sold for the transportation
segment increased by $11,603,557, or 98.55%, to $23,377,335 for the year ended December 31, 2021 from $11,773,778 for the year
ended December 31, 2020. Such increase was due to the increased volume of goods. As a percentage of transportation revenues, cost
of goods sold for the transportation segment was 85.58% and 87.40% for the years ended December 31, 2021 and 2020, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of goods sold for the financing segment
increased by $42,763, or 40.66%, to $147,934 for the year ended December 31, 2021 from $105,171 for the year ended December 31,
2020. Such increase was due to cost to fund the growth in funds deployed to customers. As a percentage of financing revenues, cost
of goods sold for the financing segment was 25.48% and 23.88% for the years ended December 31, 2021 and 2020, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Gross profit</U></I>. As a result
of the foregoing, our gross profit increased by $2,339,644, or 115.11%, to $4,372,235 for the year ended December 31, 2021 from
$2,032,591 for the year ended December 31, 2020. As a percentage of revenues, our gross profit increased from 14.61% in 2020 to
15.67% in 2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gross profit from the transportation segment
increased by $2,242,145, or 132.09%, to $3,939,522 for the year ended December 31, 2021 from $1,697,377 for the year ended December
31, 2020. Such increase was due to the increased level of revenue. As a percentage of transportation revenues, gross profit for
the transportation segment was 14.42% and 12.60% for the years ended December 31, 2021 and 2020, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gross profit from the financing segment
increased by $97,499, or 29.09%, to $432,713 for the year ended December 31, 2021 from $335,214 for the year ended December 31,
2020. Such increase was due to sales growth and adding new customers. As a percentage of financing revenues, gross profit for the
financing segment was 74.52% and 76.12% for the years ended December 31, 2021 and 2020, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Payroll and consultant expenses</U></I>.
Our payroll and consultant expenses increased by $889,461, or 69.65%, to $2,166,425 for the year ended December 31, 2021 from $1,276,964
for the year ended December 31, 2020. The increase was primarily due to increased personnel to manage our business growth. As a
percentage of revenues, payroll and consultant expenses decreased from 9.18% in 2020 to 7.77% in 2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Sales and marketing expenses</U></I>.
Our sales and marketing expenses increased by $208,763, or 78.68%, to $474,084 for the year ended December 31, 2021 from $265,321
for the year ended December 31, 2020. The increase was primarily due to an increased advertising budget to attract additional
customers. As a percentage of revenues, sales and marketing expenses decreased from 1.91% in 2020 to 1.70% in 2021.<I>&nbsp;</I></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>General and administrative expenses</U></I>.
Our general and administrative expenses increased by $217,844, or 67.27%, to $541,684 for the year ended December 31, 2021 from
$323,840 for the year ended December 31, 2020. The increase was primarily due to upgrades in facilities and rent and common area
increases. As a percentage of revenues, general and administrative expenses decreased from 2.33% in 2020 to 1.94% in 2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Depreciation</U></I>. Depreciation
was $48,610, or 0.17% of revenues, for the year ended December 31, 2021, as compared to $26,662, or 0.19% of revenues, for the
year ended December 31, 2020.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Interest expense</U></I>. Interest
expense was $39,639, or 0.14% of revenues, for the year ended December 31, 2021, as compared to $3,851, or 0.03% of revenues, for
the year ended December 31, 2020.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Income tax expense</U></I>. We had
an income tax expense of $352,818 for the year ended December 31, 2021, as compared to an income tax expense of $77,375 for the
year ended December 31, 2020.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Net income</U></I>. As a result
of the cumulative effect of the factors described above, we had a net income of $957,421 for the year ended December 31, 2021,
as compared to $58,578 for the year ended December 31, 2020, an increase of $898,843, or 1,534.44%.&nbsp;&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2022, we had cash and cash
equivalents of $326,322 and working capital of $1,359,026. Since inception we have financed our operations through the issuance
of notes payable to our major shareholder for funds provided.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our priority is to continue to grow our
revenue and gross profit. We anticipate that our operating expenses and planned expenditures will constitute a material use of
cash, and we expect to use available cash to expand our sales force, enhance our technology, acquire complimentary businesses and
for working capital and other general corporate purposes. We also expect to use cash to make any earn-out payments due in connection
with our acquisitions. We may use a portion of the net proceeds from this offering to fund these uses of cash.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></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">Historically, our average accounts receivable
lifecycle has been longer than our average accounts payable lifecycle, which requires that we use cash to pay carriers in advance
of collecting from our customers. We elect to provide this benefit to foster strong relationships with both our customers and carriers.
As our business grows, we expect this use of cash will continue. The amount of cash we use will be dependent on the growth of our
business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although we can provide no assurances,
we believe that the net proceeds from this offering, combined with our available cash, should be sufficient to meet our cash and
operating requirements for the foreseeable future. Thereafter, we intend to obtain additional equity financing and obtain a credit
facility to provide funds needed for our expected growth. In the event additional financing is required, there are no assurances
that such debt can be raised on acceptable terms or at all.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table provides detailed information
about our net cash flow for all financial statement periods presented in this prospectus.</P>

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

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

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

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


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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Three Months Ended </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>March 31,</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Year Ended </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>December 31,</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2022</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; text-align: left">Net cash provided by (used in) operating activities</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">167,494</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(163,398</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">190,880</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(907,844</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net cash used in investing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(24,720</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,301</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(514,723</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(40,114</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net cash provided by (used in) financing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(154,390</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">121,137</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">368,703</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,084,944</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net change in cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,616</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(52,562</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,860</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">136,986</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Cash and cash equivalents at beginning of year</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">337,938</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">293,078</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">293,078</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">156,092</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Cash and cash equivalents at end of year</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">326,322</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">240,516</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">337,938</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">293,078</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



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

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our net cash provided by operating activities
was $167,494 for the three months ended March 31, 2022, as compared to net cash used in operating activities of $163,398 for the
same period in 2021. For the three months ended March 31, 2022, our net income of $900,385 and an increase in accounts payable
of $745,913, offset in part by a $1,657,347 increase in accounts receivable, were the primary drivers for cash provided by operations.
For the three months ended March 31, 2021, our net income of $47,074 and an increase in accounts payable of $172,260, offset by
a $406,599 increase in accounts receivable, were the primary drivers for cash used in operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our net cash provided by operating activities
was $190,880 for the year ended December 31, 2021, as compared to net cash used of $907,844 for the year ended December 31, 2020.
For the year ended December 31, 2021, our net income of $957,421 and an increase in accounts payable of $1,817,285, offset in part
by a $ 2,665,325 increase in accounts receivable, were the primary drivers for cash provided by operations. For the year ended
December 31, 2020, our net income of $58,578 and an increase in accounts payable of $597,148, offset by a $1,511,284 decrease in
accounts receivable, were the primary drivers for cash used in operations.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our net cash used in investing activities
was $24,720 for the three month period ended March 31, 2022, which consisted primarily of continued development work on our fintech
platform, as compared to $10,301 for the comparable period in 2021, which also consisted of development work on our fintech platform.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our net cash used in investing activities
was $514,723 for the year ended December 31, 2021, which consisted primarily of continued development work on our fintech platform,
as compared to $40,114 for the year ended December 31, 2020, which consisted of purchases of property and equipment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our net cash used in financing activities
was $154,390 for the three months ended March 31, 2022 as compared to net cash provided by financing activities of $121,137 for
the same period ended March 31, 2021. Net cash used in financing activities for the three months ended March 31, 2022 consisted
of $51,921 in proceeds of the subordinated debt offset in part by a reduction of $206,311 in the note payable to a related party,
while the net cash provided by financing activities for the three month period ended March 31, 2021 consisted of proceeds from
the note payable of $795,996,offset by payments of $674,859 to reduce the subordinated debt.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our net cash provided by financing activities
was $368,703 for the year ended December 31, 2021 as compared to $1,084,944 for the year ended December 31, 2020. Net cash provided
by financing activities for the year ended December 31, 2021 consisted of $633,934 in proceeds of the subordinated debt offset
in part by a reduction of $265,231 in note payable to a related party, while the net cash provided by financing activities for
the year ended December 31, 2020 consisted of short-term debt of $100,000, related party note payables of $461,327, proceeds from
the paycheck protection program loan described below of $208,446 and subordinate debt of $315,171.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 1, 2018, eCommerce Funding
entered into a note payable in the amount of $500,000 with SWL Investments, an Oklahoma limited partnership, to provide operating
funds to LeeWay Capital. On April 1, 2019, the note was amended to provide up to a total of $1,500,000 in funding under the note.
On January 2, 2022 the note was further amended to provide for up to $2,200,000 in funding and to extend the maturity date. The
note bears interest at the rate of 12% per annum and has a maturity date of November 1, 2027. Under the terms of the note the interest
is to be accrued and is due and payable with the principal on the maturity date. Funds are drawn against this note as required
to fund our operations and business activities. At March 31, 2022 and 2021 the funds drawn against this note were $1,775,476 and
$1,723,555, respectively.</P>

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


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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We applied for and received a Small Business Administration
loan under the paycheck protection program in the amount of $208,446. The loan was funded on May 29, 2020, bears an interest rate
of 1% per annum and has a maturity date of May 29, 2022. The funds obtained under this loan were used for the payment of salaries,
health insurance costs, and rent, all of which expenses qualify for the loan forgiveness under the terms of the loan. We applied
for forgiveness of both the principal of the note and all accrued unpaid interest and received notice on June 13, 2021 that, as
the funds were used for their specified purposes, the principal and all accrued interest was forgiven. We recognized a gain on
forgiveness of debt of $208,446 which was recorded as other income in 2021.</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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Off-Balance Sheet Arrangements</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We do not have any off-balance sheet arrangements during the
periods presented.</P>



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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following discussion relates to critical
accounting policies for our Company. The preparation of financial statements in conformity with GAAP requires our management to
make assumptions, estimates and judgments that affect the amounts reported, including the notes thereto, and related disclosures
of commitments and contingencies, if any. We have identified certain accounting policies that are significant to the preparation
of our financial statements. These accounting policies are important for an understanding of our financial condition and results
of operation. Critical accounting policies are those that are most important to the portrayal of our financial condition and results
of operations and require management&rsquo;s difficult, subjective, or complex judgment, often as a result of the need to make
estimates about the effect of matters that are inherently uncertain and may change in subsequent periods. Certain accounting estimates
are particularly sensitive because of their significance to financial statements and because of the possibility that future events
affecting the estimate may differ significantly from management&rsquo;s current judgments. We believe the following critical accounting
policies involve the most significant estimates and judgments used in the preparation of our financial statements:</P>

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Revenue Recognition</I></B>: &nbsp;The
Company has adopted and accounts for revenue under the guidance provided by ASC 606, Revenue from Contracts with Customers, and
all related amendments (&ldquo;new revenue standard&rdquo;). We have applied the new revenue standard to all contracts from the
date of initial application.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Transportation, Inc. recognizes
revenue at the time the signed proof of delivery receipt (&ldquo;POD&rdquo;) is received. The Company&rsquo;s performance obligations
under the contract are completed when the freight is delivered to its destination, and it has received a signed POD. Revenue from
each delivery is calculated individually and is deemed earned when the POD is signed, as the Company is not obligated to provide
any additional services subsequent to the delivery, and the customer&rsquo;s acknowledgement of delivery is evidenced by the signed
POD and therefore the collectability of the fee for service is reasonably assured.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue is recorded at the gross amount
of the contract. The gross amount represents the amount for which the Company will receive payment from the customer. The sales
process begins with a price quotation to the customer and the Company then identifies a carrier to make the delivery. The cost
which the Company incurs with the carrier identified and contracted to deliver the freight is recorded as cost of sales, with the
difference between the price agreed upon with the customers and the cost of delivery representing the gross profit on that individual
transaction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s payment terms are net
30 with the exception of its largest customer, for which payment terms are net 60. Our competitors provide services to our largest
customer with terms of net 60. The Company is required to offer the same payment terms as its competitors in order to secure the
customer&rsquo;s business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s customer contracts
set forth its performance obligations under those contracts. The Company&rsquo;s obligation is to transport the contracted goods
to the delivery point, as directed by our customer. The arrival of the contracted goods at the destination and the receipt by the
Company of a signed POD completes its obligations and it can then record as revenue the price agreed upon for the services provided.
Revenue is only recognized by the Company after its receipt of the signed POD. Were a shipment to be in transit at month-end there
is no revenue recognized, as the Company has not yet completed its contractual obligations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Capital recognizes revenue ratably
over the term of the agreement. Revenue on each agreement is the total due under the agreement less the funded amount. In those
instances where the customers&rsquo; obligations are not fully paid at the termination date of the agreement, additional fees are
calculated and charged on the unpaid balance, with those fees recognized as revenue for each of the months a balance remains outstanding.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Fair Value Measurements</I></B>:
The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability
in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial
liabilities ae marked to offer prices. The fair value should be calculated based on assumptions that market participants would
use in pricing the asset or liability, not on assumptions specific to the entity. In addition, the fair value of liabilities should
include consideration of non-performance risk, including the party&rsquo;s own credit risk.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value measurements do not include
transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine
fair values. Categorization within the fair value hierarch is based on the lowest level of input that is significant to the fair
value measurement. The fair value hierarchy is defined into the following three categories:</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">Level 1: Quoted market prices
in active markets for identical assets or liabilities.</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">Level 2: Observable inputs other
than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume
or infrequent transactions (less active markets); pr mode-driven valuations in which all significant inputs are observable or can
be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities.</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"></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">Level 3: Unobservable inputs
to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the extent that valuation is based on
models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment.
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy within which
the fair value measurement is disclosed and is determined based on the lowest level input that is significant to the fair value
measurement.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 carrying value of the Company&rsquo;s
cash, accounts payable and other current assets and liabilities approximate fair value because of their short-term maturity.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Accounts Receivable</I></B>: Accounts
receivables are presented net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for
estimated losses. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when
there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances,
the Company considers a number of factors, including the age of the balance, a customer&rsquo;s historical payment history, its
current creditworthiness and current economic trends. Accounts are written off after exhaustive efforts at collection. At March
31, 2022 and December 31, 2021, the Company had accounts receivable, net of the allowance of doubtful accounts, of $6,598,462 and
$6,598,462, respectively. At March 31, 2022 and December 31, 2021, the allowance for doubtful accounts was $460,079 and $379,694,
respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Concentration and Credit Risk: </I></B>The
Company has two customers which represent a significant portion of revenue and three customers which represent a significant portion
of their accounts receivable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the three months ended March 31,
2022, McCain Foods USA, Inc. (&ldquo;Customer 1&rdquo;) and Ruan Transport Corporation (&ldquo;Customer 2&rdquo;) represented in
an aggregate approximately 90% of revenue. During the three months ending March 31, 2021, Customer 1 and Customer 2 represented
approximately 81% of the Company&rsquo;s revenue. Revenue related to these two customers is set forth in the table below. Also,
Customer 1, Customer 2 and Warren Distributors (&ldquo;Customer 3&rdquo;) in an aggregate represented approximately 68% of the
Company&rsquo;s accounts receivable as of March 31, 2022 and Customer 1, Customer 2, Customer 3 in an aggregate represented approximately
44% of the Company&rsquo;s accounts receivable as of March 31, 2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2021,
Customer and Customer 2 represented in an aggregate approximately 74% of revenue. During the year ending December 31, 2020 Customer
1 and Customer 2 represented approximately 56% of the Company&rsquo;s revenue. Revenue related to these two customers is set forth
in the table below. Also, Customer 1, Customer 2 and Customer 3 in an aggregate represented approximately 44% of the Company&rsquo;s
accounts receivable as of the year ended December 31, 2021 and Customer 1, Customer 2, Customer 3 in an aggregate represented approximately
85% of the Company&rsquo;s accounts receivable as of December 31, 2020.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our contracts with Customer 1 and Customer
2 are described under &ldquo;Business&mdash;Our Business&mdash;Freight Brokerage and Logistics.&rdquo; The Company does not have
any signed contracts with Customer 3.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company believes it has strong relationships
with these customers and believes their business with each of them will be ongoing.</P>



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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">For the Three Months <BR>
Ended March 31, 2022</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">For the Three Months <BR>
Ended March 31, 2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">Customer</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Revenue</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of <BR> Revenue</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Revenue</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of<BR> Revenue</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; text-align: justify; padding-bottom: 1pt">Customer 1</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">8,975,494</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">73.36</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">2,180,972</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">47.52</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Customer 2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,010,813</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.44</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,518,616</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33.09</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

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

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


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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">At March 31, 2022</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">At December 31, 2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; border-bottom: Black 1pt solid">Customer</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Accounts<BR> Receivable</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Percent of Accounts<BR> Receivable</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Accounts <BR> Receivable</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Percent of Accounts<BR> Receivable</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; text-align: justify">Customer 1</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">4,811,888</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">58.28</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,089,093</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">35.73</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Customer 2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">723,427</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.76</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">315,891</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.79</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Customer 3</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">96,066</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.16</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">221,693</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.31</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

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



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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; border-bottom: Black 1pt solid">Customer</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Revenue</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Percent of <BR>
Revenue</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Revenue</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Percent of<BR>
 Revenue</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; text-align: justify; padding-bottom: 1pt">Customer 1</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">16,358,527</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">58.64</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">%</P></TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">5,164,104</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">37.03</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left"><P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">%</P></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Customer 2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,416,242</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.83</TD><TD STYLE="text-align: left"><P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">%</P></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,647,296</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19.03</TD><TD STYLE="text-align: left"><P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">%</P></TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: justify; border-bottom: Black 1pt solid">Customer</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Accounts<BR>
 Receivable</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Percent of Accounts<BR>
 Receivable</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Accounts <BR>
Receivable</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Percent of Accounts<BR>
 Receivable</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; text-align: justify">Customer 1</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,089,093</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">35.73</TD><TD STYLE="width: 1%; text-align: left"><P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">%</P></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,055,937</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">52.07</TD><TD STYLE="width: 1%; text-align: left"><P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">%</P></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Customer 2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">315,891</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.79</TD><TD STYLE="text-align: left"><P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">%</P></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">445,918</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21.99</TD><TD STYLE="text-align: left"><P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">%</P></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Customer 3</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">221,693</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.31</TD><TD STYLE="text-align: left"><P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">%</P></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">218,622</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.78</TD><TD STYLE="text-align: left"><P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">%</P></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"><B><I>Property and Equipment</I></B>: Property
and equipment are stated at cost. Additions and major improvements are capitalized while maintenance and repairs are charged to
operations. Upon trade-in, sale or retirement of property and equipment, the related cost and accumulated depreciation are removed
from the accounts and any gain or loss is recognized. Depreciation is computed using the straight-line method and is recognized
over the estimated useful lives of the property and equipment, which range from one to seven years.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Valuation of Long-Lived Assets</I></B>:
The carrying values of the Company&rsquo;s long-lived assets are reviewed for impairment annually and whenever events or changes
in circumstances indicate that they may not be recoverable. When projections indicate that the carrying value of the long-lived
asset is not recoverable, the carrying value is reduced by the estimated excess of the carrying value over the projected discounted
cash flows. Under similar analysis no impairment charge was taken during the three months ended March 31, 2022 and 2021 or the
years ended December 31, 2021 and 2020. Impairment tests will be conducted on an annual basis and, should they indicate a carrying
value in excess of fair value, impairment charges may be required to be recognized and recorded. &#9;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Leases</I></B>: The Company, in
accordance with ASC 842, accounts for leases as right-of-use assets and lease liabilities on the balance sheet. We estimate our
incremental borrowing rate, which is defined as the interest rate we would pay to borrow on a collateralized basis, considering
such factors as length of lease term and the risks of the economic environment in which the leased asset operates. The lease term
used to calculate right-of-use assets and lease liabilities only includes renewal and termination options that are deemed reasonably
certain to be exercised.&nbsp;</P>





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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are an &ldquo;emerging growth company,&rdquo;
as defined in the JOBS Act. For so long as we remain an emerging growth company, we are permitted and intend to rely on exemptions
from specified disclosure requirements that are applicable to other public companies that are not emerging growth companies. These
exemptions include:</P>

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

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    <TD STYLE="width: 20pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 20pt; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">being permitted to provide only two years of audited financial statements, in addition to any required unaudited interim financial statements, with correspondingly reduced &ldquo;<I>Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</I>&rdquo; disclosure;</FONT></TD></TR>
</TABLE>
<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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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">not being required to comply with the requirement of auditor attestation of our internal controls over financial reporting;</FONT></TD></TR>
</TABLE>
<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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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">not being required to comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor&rsquo;s report providing additional information about the audit and the financial statements;</FONT></TD></TR>
</TABLE>
<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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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">reduced disclosure obligations regarding executive compensation; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">not being required to hold a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have taken advantage of certain reduced
reporting requirements in this prospectus. Accordingly, the information contained herein may be different than the information
you receive from other public companies in which you hold stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An emerging growth company can also take
advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised
accounting standards. This allows an emerging growth company to delay the adoption of certain accounting standards until those
standards would otherwise apply to private companies. We have irrevocably elected not to avail ourselves of this extended transition
period and, as a result, we will be required to adopt new or revised accounting standards on the dates on which adoption of such
standards is required for other public reporting companies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We will remain an emerging growth company
until the earlier of (i) the last day of the fiscal year following the fifth anniversary of the date of the first sale of our common
stock pursuant to an effective registration statement under the Securities Act; (ii) the last day of the fiscal year in which we
have total annual gross revenues of $1.07 billion or more; (iii) the date on which we have issued more than $1 billion in nonconvertible
debt during the previous three years; or (iv) the date on which we are deemed to be a large accelerated filer under applicable
SEC rules. We expect that we will remain an emerging growth company for the foreseeable future but cannot retain our emerging growth
company status indefinitely and will no longer qualify as an emerging growth company on or before the last day of the fiscal year
following the fifth anniversary of the date of the first sale of our common stock pursuant to an effective registration statement
under the Securities Act.</P>



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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We operate a freight brokerage and transportation
business, providing comprehensive transportation management solutions for shippers and carriers.&nbsp; Established in the early
1980s and headquartered in Salt Lake City, Utah, we deliver a one-stop freight management platform that connects shippers with
truckers to facilitate shipments across distance ranges, cargo weights, and types. We deliver value-driven logistics solutions
powered by effective technology and distinguished by personalized service built on solid relationships. We are building a next-generation
digital freight platform that we believe will transform the highly fragmented $1 trillion transportation and logistics sector.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Logistics is the lifeblood of our economy,
powering the movement of goods and connecting the engines of production and consumption. We aspire to revolutionize logistics,
improve efficiency across the value and supply chain and reduce the carbon footprint for our planet. Our goal is to leverage technology
to eliminate inefficiencies and create economic opportunity across the freight ecosystem. Our team is comprised of innovators seeking
to build the best products for all parties in the freight industry and to provide shippers and carriers with unparalleled transparency.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also began operating a specialty financial
services business in 2019 that we believe will become a next-generation, end-to-end cloud-based financing platform for small and
medium sized companies primarily in the e-commerce marketplace. &nbsp;By combining industry-leading technology and security with
the expertise and care of our team, we serve e-commerce business owners nationwide with efficiency, simplicity, transparency and
reliability by providing alternative financial products to help them grow. This same technology will also allow our freight brokerage
to offer quick pay and factoring services to their carrier and shippers, all with a one-click, simple process.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are also in the process of developing
proprietary mobile applications and other transportation financial products which can be used by shippers, carriers and other freight
brokers.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Total revenue for the first three months
of 2022 was $12,233,724, a $7,644,643, or 166% increase over the $4,589,081 revenue for the first three months of 2021. Net income
for the first three months of 2022 was $900,385, an increase of $853,311 over the $47,074 net income for the first three months
of 2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our total revenues increased by $13,985,964,
or 101%, to $27,897,504 for the year ended December 31, 2021 compared to the year ended December 31, 2020. Our net income increased
by $898,843, or 1,534%, to $957,421 for the year ended December 31, 2021 compared to the year ended December 31, 2020. Our freight
brokerage and transportation business accounted for approximately 97.92% and 96.83% of our revenues for the years ended December
31, 2021 and 2020, respectively.</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>Our Corporate History and Structure</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Company was incorporated in Nevada
on October 12, 2021, for the purpose of being the holding company for our freight brokerage and logistics business and our recently
started specialty financial services business. WLP is the 100% owner of our Company. WLP is beneficially owned by family members
of S. Whitfield Lee, our Chairman of the Board, Chief Executive Officer and President. The WLP Board of Directors is comprised
of Chris Von Maack and Jon Davies, the sons-in-law of S. Whitfield Lee, and Whitfield Lee, the son of S. Whitfield Lee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our freight brokerage and logistics business
is operated through our wholly owned subsidiary, LeeWay Transportation. Our specialty financial services business is operated through
our wholly owned subsidiary, LeeWay Capital.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Previously, WLP was the 100% direct owner
of our freight and logistics companies: LeeWay Transportation, LeeWay Freight, LeeWay Logistics and one of our specialty financial
services companies: eCommerce Financing. WLP Capital, a wholly owned subsidiary of WLP, previously owned 100% of the shares of
LeeWay Capital.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2021, we completed a corporate
reorganization. In connection with this reorganization, WLP transferred its 100% ownership in LeeWay Logistics and LeeWay Freight
to LeeWay Transportation pursuant to a share transfer agreement. As a result, LeeWay Transportation, while remaining a wholly owned
subsidiary of WLP, became the holding company for our freight brokerage and logistics business. LeeWay Capital became the holding
company for our recently started specialty financial services business by WLP transferring its 100% membership interest in eCommerce
Financing to LeeWay Capital, which was already the sole owner of eCommerce Funding. We became the holding company for LeeWay Transportation
and LeeWay Capital through a capital contribution from WLP of 100% of its equity in LeeWay Transportation and LeeWay Capital in
exchange for 30,000,000 shares of our common stock and 2,000 shares of our Super Voting Preferred Stock.</P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following chart depicts our organizational
structure as of the date of this prospectus.</P>

<P STYLE="font: 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">&nbsp;&nbsp;<IMG SRC="cm102_img08.jpg" ALT=""></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Transportation was originally incorporated
as LeeWay Global Logistics, Inc. in the State of Nevada on July 1, 2015. LeeWay Logistics was formed in the State of Nevada on
July 1, 2015. LeeWay Freight was formed in the State of California on September 19, 1957. LeeWay Capital, Inc. was incorporated
in the State of Utah on September 25, 2014. eCommerce Financing was formed in the State of Utah on June 13, 2018. eCommerce Funding
was formed in the State of Utah on November 2, 2018.</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>Our Industry</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The freight brokerage industry market in
the US is estimated to be approximately $156 billion for 2022. Freight brokerage is a variable cost industry that facilitates the
movement of freight by matching shippers&rsquo; loads to third-party carriers. The truckload share, which is serviced by freight
brokers, has been increasing over the last several years. The industry is highly fragmented and there is a low level of market share
concentration, which is increasing because of merger and acquisition activity. It is believed that the top five freight brokers
capture less than 10% of the available market, and the total number of licensed freight brokers has increased over the past several
years. Most freight brokerage operations are small to medium-sized, and there are approximately 17,000 freight brokers operating
in the US. Additionally, barriers to entry have been growing as digital technology is increasingly becoming more important and
capital is needed to acquire and provide trailer pools for certain customers; these could be a differentiation factor for shippers
and carriers</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The rise of ecommerce and on-demand customer
expectations, combined with structural challenges and changes needed in the supply chain because of the once-in-a-generation challenges
from COVID-19 and other factors, provides an incredible backdrop for continued innovation in the freight brokerage industry. We
are building a platform that will allow us to meet the dynamic needs of shippers and carriers now and in the future. The vast majority
of traditional freight brokers leverage a few relationships with shippers and carriers and match loads manually on a limited scale.
While this can be more efficient for shippers than procuring drivers and carriers themselves, these traditional brokers lack both
transparency and technology, relying on individual brokers, other office employees, paperwork, and phone calls to match loads and
trucks and track the load from origin to destination. As a result, there are significant issues in the marketplace including:</P>

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

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    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Inefficiency</U></I>. It is estimated that up to 30% of truck miles are driven empty each year. Truckers are paid on a loaded mile basis, so waiting time and dead-head miles (miles driven unloaded to pick up a load or to return home after delivering cargo) are costly to them. This inefficiency affects the viability of small- and medium-sized trucking businesses in particular. Current estimates are that up to 10 billion miles are driven empty each year<SUP>5</SUP>. These costs limit reinvestments back into trucking businesses and drive up the cost of consumer goods.</FONT></TD></TR>
</TABLE>
<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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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Transparency</U>. </I>Many brokers lack transparency, technology and automation. As a result, shippers often have little to no visibility on their loads and limited predictability on whether a broker will deliver at the agreed price and schedule.</FONT></TD></TR>
</TABLE>
<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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    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Manual Processes</U>.</I> A typical load requires several steps which are traditionally processed manually, all of which create potential inefficiencies in pricing, bidding, building the load, matching load and carrier, scheduling pickup and delivery, tracking, and invoicing. This people-intensive process can lead to high processing costs and poor service and customer experience for both the carrier and shipper.</FONT></TD></TR>
</TABLE>
<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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    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Capacity</U>. </I>The trucking industry has faced a chronic shortage of capacity because of a combination of factors. Current estimates are that there will be a shortage of 100,000 drivers by 2023<SUP>6</SUP>. Furthermore, COVID-19 has shown how susceptible supply chains are to large-scale shocks. Trucking company bankruptcies increased by 185% from 2019 to 2020<SUP>7</SUP>, which was largely a result of COVID-19. These shortages are one reason the transportation supply side has been and will continue to be a strategic focus for shippers.</FONT></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"><SUP>5</SUP> <U>https://convoy.com/blog/empty-miles-in-trucking/#FN6</U></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"><SUP>6</SUP> <U>https://deloitte.wsj.com/articles/economic-brief-whats-behind-the-truck-driver-shortage-01634755344</U></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"><SUP>7</SUP> <U>https://www.wsj.com/articles/trucking-failures-surged-last-year-under-pandemic-11612827527</U>&nbsp;</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The situation is only getting more difficult.
Shipper demands continue to rise, driven by a need for solutions that will bring better supply chain resiliency. At the same time,
carriers face driver shortages, long lead times for equipment, and other challenges, putting more economic pressure on their businesses.
The transportation ecosystem is being stretched to its limits, as evidenced by the ongoing marketplace and supply chain disruptions.
There is an urgent need for a solution that incorporates both deep industry expertise and the latest technology and data science
to help drive improved access, reliability, visibility, and resiliency.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The ecommerce industry has existed since
the years following the creation of the internet.&nbsp;According to eMarketer global online sales are forecasted to grow by double
digits through 2023. They estimate worldwide ecommerce sales to be $6.169 trillion by 2023; however, ecommerce still will only
account for 22.3% of total retail sales<SUP>8</SUP>. Every element of commerce is moving online, from storefronts, to order fulfillment,
to payment and checkout experiences.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ecommerce sellers increasingly prefer more
flexible and innovative digital financing solutions over traditional bank loans. A lack of transparencies by traditional financial
institutions, ranging from hidden penalties, hard-to-understand &ldquo;fine print,&rdquo; and outdated underwriting processes,
has led to an erosion of trust and a poor client experience. These views are particularly acute for the over 160 million Gen Z
and Millennials in the U.S., who prefer to build trusted relationships with the brands with whom they engage and from whom they
buy products and services<SUP>9</SUP>.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Business owners are now turning to technology
oriented financial services companies they trust. According to a survey conducted by the Harris Poll in 2020, 64% of Americans
would consider purchasing or applying for financial products through a technology company&rsquo;s platform instead of a traditional
financial services provider. This sentiment rises to 81% for Americans aged between 18 and 34 years<SUP>10</SUP>.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 small business owners, when it comes
to the act of acquiring business capital, there are a number of shortcomings with existing options:</P>

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

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    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Complex</U></I>. The terms and conditions of traditional lenders are often opaque, complex, and difficult to understand, and business owners have to constantly be wary of what is buried in the fine print.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Predatory</U></I>. Transaction fees, obscure penalties, deferred or compounding interest, and hidden charges can snowball the true cost of a loan and trap a business in onerous debt spirals.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Misplaced credit risk</U></I>. Legacy credit models used by banks often use antiquated underwriting and risk management approaches that may be less capable of accurately assessing an ecommerce business, impeding eligible businesses from accessing much-needed capital in a rapid manner.</FONT></TD></TR>
</TABLE>
<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>Our Business</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Freight Brokerage and Logistics</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We provide comprehensive transportation
management solutions for shippers and carriers.&nbsp;We are also in the process of developing proprietary applications and integrating
already developed applications as a part of the developing digital freight brokerage market. &nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We match shipper loads with carrier capacity,
which is primarily provided by small carriers and independent owner operators. The loads are primarily full truckload and often
need specialized trailers such as refrigeration or flatbeds in addition to dry vans. We use available transportation management
systems, which technology increases our ability to provide service. Service to the shipper and information to both the carrier
and the shipper is a major focus for the company. Approximately 97% of carriers in the U.S. operate twenty or fewer trucks, with
90% of those operating with six or fewer trucks. Good freight brokers are important to these carriers as a carrier partner in getting
their loads. We are working to develop proprietary transportation technology as a new crop of digital freight matching platforms
have begun to emerge over the past few years. Frost &amp; Sullivan refers to this digital brokerage s trucking-as-a-service or
TaaS. This technology will provide&nbsp;the ability for the carriers to use mobile technology to increase service, visibility,
signature verification and provide instant account payable settlement, quick or instant pay, to the carrier.</P>

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

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our two largest customers are McCain Foods
USA, Inc. (&ldquo;Customer 1&rdquo;), sales to whom accounted for 58.64% of our revenue in fiscal year 2021 and Ruan Transport
Corporation (&ldquo;Customer 2&rdquo;), sales to whom accounted for 15.83% of our revenue. During the three months ended March
31, 2022, these two customers accounted for 89.80% of revenue. The Company has entered into renewable contracts with both Customer
1 and Customer 2, the terms of which are described below.</P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has entered into a non-exclusive
Food Transportation Services Agreement dated May 17, 2019 with McCain Foods USA, Inc. (&ldquo;Customer 1&rdquo;) to provide non-exclusive
carrier and logistics services to Customer 1 through third-parties sub-contracted by the Company. The Company, however, must accept
98% of the loads tendered by Customer 1. The contract has a one-year term with automatic one-year renewals. Under the terms of
the contract, except with respect to trailers owned or leased by Customer 1, for which Customer 1 shall bear the costs of reasonable
wear and tear, the Company shall bear the full cost and expense of all fuel (including reefer fuel if any), oil, tires, parts,
road service, maintenance, and repair in connection with the use and operation of the equipment and which may be required to keep
the equipment in good repair, good mechanical condition, and in such condition as is necessary to be used in the transportation
of shipments subject to the contract. The Company may not transport cargo of any third party in or upon any trailer while loaded
with goods of Customer 1 without forfeiting all charges applicable to any shipment for which such an exclusive use was not provided.
The Company generally bears the risk of loss up to $150,000 per shipment unless Customer 1 declares additional value. The contract
may be terminated by either party at any time with 30 days&rsquo; notice. In addition, Customer 1 may terminate the contract without
30 days&rsquo; notice in certain circumstances that call into question our ability to perform our obligations under the contract,
including breaches of the representations and warranties by the Company, or if the Company becomes insolvent, or files for bankruptcy.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company entered into non-exclusive
Motor Transportation Contract with Customer 2 on November 15, 2017 to provide carrier and related services, as a co-broker
with Customer 2, whereby the Company provides third-party carriers and Customer 2 provides the third-party shippers. The term
of the contract is for one year and has automatic one-year renewals. Under the terms of the contract, the Company furnishes,
at its expense, through subcontracted carriers, suitable trucks, trailers, and manpower to transport the commodities tendered
and assumes all costs, expenses, and liabilities incident to or arising out of maintenance, repair, or operation of
equipment, as well as labor, fuel, insurance, and for accidents and agrees to hold harmless Customer 2, third-party shippers
and their customers from any and all costs, expenses, and liabilities. The Company is paid rates and charges set forth in the
Customer 2 Rate Confirmation and cannot use different rates without the approval of Customer 2 as prescribed by the contract.
The contract with Customer 2 may be terminated by either party at any time with 30 days&rsquo; notice and after the
initial one-year term.</P>

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

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

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

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

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>8</SUP> <U>https://www.emarketer.com/content/worldwide-ecommerce-continues-double-digit-growth-following-pandemic-push-online</U></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>9</SUP> <U>https://www.brookings.edu/blog/the-avenue/2020/07/30/now-more-than-half-of-americans-are-millennials-or-younger/</U></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>10</SUP> <U>https://martechseries.com/analytics/b2b-data/ondots-harris-poll-reveals-consumers-open-receiving-financial-services-tech-companies/</U></P>

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also began operating a specialty financial
services business in 2019 that we believe will become a next-generation, end-to-end cloud-based financing platform for small and
medium sized companies primarily in the e-commerce marketplace. &nbsp;By combining industry-leading technology and security with
the expertise and care of our team, we serve e-commerce business owners nationwide with efficiency, simplicity, transparency and
reliability by providing alternative financial products to help them grow.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are also in the process of developing
proprietary apps and other transportation financial products which can be used by shippers, carriers and other freight brokers.
&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are a one-stop-shop for financial services
that allows ecommerce sellers access to business capital and financing. Our mission is to transform the way business lending works
in the ecommerce industry by making it efficient and convenient for e-tailers to access capital. Enabled by our proprietary technology
and analytics, we aggregate and analyze thousands of data points to assess the creditworthiness of ecommerce sellers rapidly and
accurately. We have developed financial products that offer the speed, convenience, and accessibility that only an integrated digital
platform can provide.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have created an innovative financial
service platform that offers next-generation, end-to-end financial products designed to offer best-in-class services to our clients.
By leveraging and using modern technology and using a mission-driven approach, we can reinvent the small business loan experience
for online sellers. An automated, data-driven approach to credit assessment has largely replaced manual underwriting. Virtual wallets
and real-time payments have replaced traditional bank accounts and electronic transfers. We believe our innovative approach, based
on trust and our steadfast commitment to our core values, uniquely positions us to define the future of ecommerce business lending.
We predicate our Company on the principles of simplicity, transparency, and putting people first. This distinctive culture sets
us apart, as our principles are not just words on a wall, but how we&thinsp;&mdash;&thinsp;ecommerce Seller Financing&thinsp;&mdash;&thinsp;run
our business and design our products. By adhering to these principles, we have built enduring, trust-based relationships with online
sellers and merchants that we believe will set us up for long-term, sustainable success.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We believe that technology will be critical
to our success and is the cornerstone of our goal of driving innovation in the freight and logistics industry. We understand that
technology alone will not always provide a better solution if not balanced with a human and personal touch, coupled with a best-in-class
automated customer experience, and driven by interactive service management. As we continue to develop our digital freight platform,
we believe the following features can help provide a highly efficient and excellent customer experience:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Automated document management</U></I>. Using artificial intelligence and advanced analytics in order to automate the freight document process and lifecycle of a freight load and reduce the time-consuming costs associated with load paperwork.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -9pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Load Visibility and Transparency</U></I>. Using blockchain and GPS technology to develop track-and-trace solutions allowing for full visibility of shipments with real-time data. This will allow both shippers and carriers to understand how their shipment is performing and the shipment&rsquo;s location at any time.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -9pt">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Load Board and Freight Matching</U></I>. An online portal for carriers to find existing and open loads will be available to each of our carriers. Using API technologies, we will aggregate the data across multiple load boards to provide a one-stop solution for carriers. Based on a trucker&rsquo;s filter criteria, such as routes and truck types, our platform will identify potentially suitable shipping opportunities.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -9pt">&nbsp;</P>

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    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Freight Pricing</U></I>. We will develop proprietary artificial intelligence (&ldquo;AI&rdquo;) and machine learning-based pricing models. The dynamic pricing will be based on various factors, such as distance, cargo weight, shipper demand, and trucker supply.</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With respect to our financing platform,
we built our products on a next-generation, cloud-first platform engineered for data aggregation and management, which enables
us to leverage financial and payment data across all facets of our products, from fraud and pricing to personalization and repayment.
We designed our integrated platform to meet the financing needs of ecommerce sellers. A potential customer can complete an online
application 24 hours a day, 7 days a week. Our proprietary data and analytics engine aggregates and analyzes thousands of online
data attributes and the relationships among those attributes to assess the creditworthiness of a small business in real-time. We
offer our clients&rsquo; financial products and services across multiple marketplaces, all on one common platform. To complement
these products and services, we believe in building vertically-integrated technology platforms designed to manage and deliver the
suite of our solutions to our clients in a low-cost and differentiated manner. Some of our financing technology features include:&nbsp;</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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    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Virtual Wallets</U></I>. This wallet will allow our clients to receive revenue from multiple sources and funds from their own bank.&nbsp;This will provide our clients with transparency and the ability for them to streamline payments to their suppliers around the world. This technology will also allow us to accept cross-border ecommerce payments.</FONT></TD></TR>
</TABLE>
<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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    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Real-Time Payments</U></I>. With our eCommerce Seller Financing Card, our clients will access their marketplace earnings instantly. Using the debit payment rail, merchants will be able to transfer funds from their eCommerce Seller Financing virtual wallet to their bank account within seconds any time of the day, any day of the year, and even on weekends and holidays.&nbsp;</FONT></TD></TR>
</TABLE>
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    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>API</U></I>. Our platform aggregates and analyzes thousands of data points from dynamic, unique data sources, and the relationships among those attributes. This allows us to rapidly and accurately assess the growth prospects and cash flow consistency of each small business. Our credit decision system is automated, effectively eliminating human bias and failure in the decision-making process. The process and technological touchpoints are user-friendly, providing a fast, simple, and accurate user experience.</FONT></TD></TR>
</TABLE>
<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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    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Scalability</U></I>. As revenue increases, our profitability and marketing budget would increase proportionally. This scaled marketing budget would allow us to purchase specific search terms and appear first in a variety of search term results on the major search engine platforms. We believe our advantage against traditional financing options and competition will fuel our success in the future, and the brand reputation and recognition will continue to spread throughout the e-commerce community and online marketplace. We can scale our business operations and services with ease, given the automated nature of our Company and its technological capabilities. Additionally, ecommerce sellers that historically could not get funding from a traditional source can now scale their business, thanks to eCommerce Seller Financing LLC. This symbiosis would provide greater opportunity throughout the marketplace not only for sellers but ultimately for end-users, capitalizing on growth opportunities.</FONT></TD></TR>
</TABLE>
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    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Credit check capabilities</U></I>. Our risk model takes data inputs from multiple sources in order to assess the credit risk of each business loan transaction. Our algorithms model out the repayment probability and schedule on a month-to-month basis, and combine these probabilities with the term length, loan size, merchant, and items being sold, in order to price and score risk. In the vast majority of cases, we can complete these checks and calculations in a matter of minutes, automating the underwriting process pursuant to our underwriting policies.</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;We recently launched our new daily and spot financing
product, which is funding against the past days&rsquo; sales rather than future sales. This product will also allow us to offer
quick pay funding within the transportation and freight brokerage industries.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The United States freight transportation
and logistics market is competitive and highly fragmented with the presence of many players. The industry is comprised of both
large national and international companies as well as smaller regional companies. This presents us with a unique opportunity for
growth and expansion but also exposes us to competitors from traditional companies, such as XPO Logistics and C. H. Robinson, as
well as to new and emerging digital freight brokers such as Uber Freight and Transfix. We understand that the traditional players
have and will continue to make significant development investments in digital services and product offerings, in addition to continued
technology investments by other digital freight brokers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Leveraging our technology and management
team experience will allow us to provide competitive and transparent rates to both the carrier and the shipper. While we expect
strong competition from both traditional and digital competitors, we believe our technology, customer experience, and reputation
provide us with a meaningful and sustainable competitive advantage.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our primary competition for our financial
services business is comprised of traditional banks, credit card companies, legacy merchant cash advance providers, and other technology-enabled
lenders. The small business lending market is competitive and fragmented.&nbsp;We believe the principal competitive factors that
generally determine a company&rsquo;s advantage in our market are:</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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    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">ease of process to apply for a loan;</FONT></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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">ability to verify borrower identities and accurately assess borrowers&rsquo; credit risk profile;</FONT></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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">brand recognition and trust;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">loan features, including rate, term and pay-back method;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">ability to compete on duration and simplicity of payment terms;</FONT></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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">loan product fit for business purpose;</FONT></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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">transparent description of key terms;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">effectiveness of customer acquisition; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">quality of service</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We believe we compete favorably based on
these factors and are well-positioned to succeed in the market. However, some of our competitors may have more advantages than
we have at present, such as a more diversified product offering, a larger marketplace base, operational efficiencies, the ability
to cross-subsidize their offerings through their other business lines, more versatile technology platforms, and lower-cost funding.
Our potential competitors may also have longer operating histories, more extensive and broader merchant relationships, and greater
brand recognition and brand loyalty than we have. In addition, other established companies that possess large, existing merchant
bases, substantial financial resources, or established distribution channels could also enter the market.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our people and value-added services play
an important role in increasing our client and customer retention. We will continue to increase the competitiveness of our existing
offerings by leveraging our data and growing our network of carriers and shippers. We also plan to expand our value-added service
offerings to better address and meet the needs of our clients. For example, we are working with LeeWay Capital to develop proprietary
transportation technology to allow the offering of quick pay and factoring to our carriers. We believe the following strengths
help in the development of digital freight marketplaces and to build a network-based business model:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Experienced Management Team</U></I>. Our management team has strategic and deep operational experience with demonstrated success in building freight brokerage companies.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Carrier and Shipper Partnerships</U></I>. Our value-led strategy has enabled us to establish strong relationships with carriers across the country. While we work with carriers of all sizes, we focus on small to mid-size carriers. This carrier network, combined with our data and technology, allows us to offer shippers an enterprise-grade offering as we match shipments at scale across a nationwide network of dependable carriers.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><U>Proven, Strong, and
                                    Disciplined Growth</U>. We have proven our ability to grow both revenue and gross margin throughout
                                    a variety of challenging market environments. Our convincing performance proved the resiliency
                                    of our business model in 2020 and 2021 when we grew revenue by 68% for the year ended December
                                    31, 2020 and 101% for the year ended December 31, 2021, despite the market challenges presented
                                    by supply side problems and COVID-19. That momentum has carried into 2022, with the first
                                    three months showing a 166% increase in revenue compared to the initial three months of 2021.
                                    We believe we are well positioned to continue this vigorous growth into the future, given
                                    the robust demand in the market and our deepening relationships with new and existing shippers.</P>


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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;This ecommerce market allows for the potential of our
Company and platform to capitalize on the abundance of ecommerce businesses trying to succeed and scale, simultaneously helping
said companies to achieve fast and transparent funding and scaling opportunity.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The financial technology to underwrite
and approve applications quickly is a necessity to enable rapid scaling and acquisition of new customers.&nbsp;Our technology platform
aggregates and analyzes data points from multiple unique data sources and uses the latest in cloud-based technologies and other
modern tools to create a fast and seamless application and approval process. We prioritize building our own technology as we believe
this is an enduring competitive advantage that is difficult to replicate. This allows us to assess the growth prospects and cash
flow consistency of each small business and use machine-learning artificial intelligence to assist in the credit-making decision.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Once funded, the client has the ability
to monitor their account status through the client portal and can view the activity on their account instantaneously.&nbsp;The
Company&rsquo;s business operations and services is scalable without hiring a proportional number of people.&nbsp;The overall process
for the Company&rsquo;s prospects and customers is user-friendly, providing a transparent, simple, and accurate customer experience.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We believe two key competitive strengths
will continue to drive the success of our financial services business in the future:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Technology</U></I><U>. </U>Our platform aggregates and analyzes thousands of data points from dynamic, unique data sources, and the relationships among those attributes. This allows us to rapidly and accurately assess the growth prospects and cash flow consistency of each small business. Our credit decision system effectively eliminates human bias and failure in the decision-making process. The process and technological touchpoints are user-friendly, providing a fast, simple, and accurate user experience.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Scalability</U></I>. As revenue increases, our profitability and marketing budget will increase proportionally. This scaled marketing budget will allow us to continue to expand our brand reputation and recognition throughout the ecommerce community and online marketplaces. We can scale our business operations and services efficiently and effectively, given the automated nature of our Company and its technological capabilities. Additionally, ecommerce sellers that historically could not get funding from a traditional source can now scale their business, thanks to e-Commerce Seller Financing LLC. This symbiosis would provide greater opportunity throughout the marketplace not only for sellers, but ultimately for end-users, capitalizing on growth opportunities.</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"><B>Our Growth Strategies</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We plan to continue to offer the best service
and information available to our customers and carriers to build our core carrier network and our strategic client partnerships.
As we continue the development of our digital freight brokerage platform, we expect to source better rates, provide high-quality
service, and ensure predictable supply. This includes document control and document tracking from pickup to delivery, instant verification
of delivery, agreed-upon rates, and independent load boards. We will also be able to quickly establish shipper and carrier compliance
with the Department of Transportation and carrier safety record by utilizing API technology. Employing blockchain where possible
will facilitate a detailed record of every load and signature authentication. The technology will enable our growth to be scaled
in a highly efficient and effective manner.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We aim to attract shippers and truckers
to our platform through a combination of online and offline channels to grow our logistics network. We also plan to proactively
gain new shippers and truckers through our operations team, using their proven experience and expertise in the logistics industry
to rapidly scale products, features and sales as well as to provide support for shippers and truckers. By further refining our
user experience, we also aim to organically grow through word-of-mouth referrals. We will continue to enhance our freight matching
services and personalize our user experience, services, and operations based on the needs and preferences of each shipper and trucker.
This includes further standardizing order information and transaction processes and more precise profiling of shippers and truckers,
which is expected to enable more efficient freight matching. We anticipate that better user experience will drive shippers&rsquo;
and truckers&rsquo; engagement and increase their usage of more transactions and services on our platform. The key elements to
our strategy include:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Grow our logistics network</U></I>. We will strive to continue to build our core carrier network and our strategic client partnerships to drive network effects that both attract new carriers and shippers and retain them as long-term clients. Specifically, as we add more core carriers to our network, we expect to source better rates, provide higher-quality service, and ensure predictable supply. As the quality of the network increases, we expect to attract shippers with a consistent volume that is accurately matched to the business that carriers want.</FONT></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"></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Continue to invest in infrastructure and automation</U></I>. We will continue to invest in infrastructure development and technology to drive the logistics industry&rsquo;s development forward. We expect to make significant investments into further developing our abilities with respect to carrier payments, artificial intelligence, and data analytics in order to cater to a holistic set of shipper and trucker needs, creating value for them and thus enhancing our client retention.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.5pt; text-align: justify; text-indent: -13.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Pursue strategic alliances, investments and acquisitions</U>.</I> We intend to pursue strategic alliances, investments and acquisitions that can enhance our market position, improve our core platform capabilities, broaden our service offerings, and strengthen our data and technology capabilities.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With respect to our financial services
business, our objective is to obtain a significant market share amongst online ecommerce companies that are looking to utilize
financing to sustain and grow their online ecommerce business. The key elements to our strategy include:&nbsp;</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Build client loyalty</U></I>. We center our strategy around building trust and a lifetime relationship with our clients, which we believe will help build a sustainable competitive advantage. In order to deliver on our strategy, we must develop best-in-class unit economics and best-in-class products that build trust and reliability between our clients and our platform. We believe that will lead to us having a higher likelihood that they will continue to utilize our services to meet their financial needs in the future. This would result in delivering more revenue per client without incurring additional member acquisition costs, resulting in higher lifetime value per client.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Further invest and develop our technology platform</U></I>.&nbsp;&nbsp; We are still at the beginning of our product roadmap and plan to continue to innovate and bring new financial products to market.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Increase the number of our partnerships</U></I>.&nbsp;&nbsp; We believe we have the opportunity to significantly increase the number of integrated third-party partnerships on our network through both our dedicated sales team and B2B marketing efforts. Additionally, direct API integration means bringing on new partners is a seamless process.&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I><U>Expand to new ecommerce marketplaces</U></I>.&nbsp;&nbsp; We will continue to evaluate expanding our platform to new ecommerce markets. Merchants everywhere can benefit from a more transparent and fair way to acquire business capital, and we see an opportunity to generate value in many new markets through our platform.</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"><B>Sales and Marketing</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">While our current value propositions attract
shippers and truckers organically to our platform, we will also engage in online marketing through various channels, including
popular search engines and social media platforms. By leveraging our data insights, we will optimize the efficiency of our marketing
activities and will acquire clients in a cost-effective manner. As we continue to deliver a better experience for both the shipper
and carrier through reliability, transparency, and service, our sales and marketing strategy continuously seeks to identify and
act on new opportunities to grow these relationships.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our sales and marketing efforts for our
financial services business are designed to drive brand awareness and improve new client acquisition efficiency. We generate leads
through multiple marketing channels, including referrals and leads from existing customers, social media, online affiliations,
search engine optimization and search engine marketing. In the near to medium term, we foresee competition to acquire key merchants
rising. As a result, we plan to increase our marketing efforts in order to drive further brand awareness and preference among ecommerce
sellers.</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"></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our operations are regulated and licensed
by various U.S. federal and state governmental agencies. These regulations impact us directly and also indirectly when they regulate
third-party providers we arrange and/or contract with to transport freight for our customers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Regulations Affecting Motor Carriers,
Owner-Operators and Transportation Brokers.</I> Our subsidiaries that operate as motor carriers, freight forwarders, and freight
transportation brokers are licensed by the Federal Motor Carrier Safety Administration (&ldquo;FMCSA&rdquo;) of the U.S. Department
of Transportation (&ldquo;DOT&rdquo;). Our motor carrier subsidiaries and the third-party motor carriers we contract with in the
U.S. must comply with the safety and fitness regulations of the DOT, including those related to, without limitation, controlled
substances and alcohol, hours-of-service compliance, vehicle maintenance, hazardous materials compliance, driver fitness, unsafe
driving, and minimum insurance requirements, as well as the Compliance Safety Accountability (&ldquo;CSA&rdquo;) program, which
uses a Safety Measurement System (&ldquo;SMS&rdquo;) to rank motor carriers on seven categories of safety-related data, known as
Behavioral Analysis and Safety Improvement Categories (&ldquo;BASICs&rdquo;). Other federal and state agencies, such as the U.S.
Environmental Protection Agency (&ldquo;EPA&rdquo;), the U.S. Food and Drug Administration (&ldquo;FDA&rdquo;), the California
Air Resources Board (&ldquo;CARB&rdquo;) and the U.S. Department of Homeland Security (&ldquo;DHS&rdquo;), also regulate our equipment,
operations, cargo and independent contractor drivers. We are also subject to a variety of vehicle registration and licensing requirements
in certain states and local jurisdictions where we operate, as are the third-party carriers with which we contract. We may become
subject to new or more restrictive regulations relating to emissions, drivers&rsquo; hours-of-service, independent contractor eligibility
requirements, onboard reporting of operations, air cargo security and other matters affecting safety or operating methods.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Regulations affecting our financing
operations</I>. We are affected by laws and regulations that apply to commercial lending. This includes a range of laws, regulations
and standards that address information security, data protection, privacy, licensing and interest rates, among other things. However,
because we are only engaged in commercial lending and do not make any consumer loans or take deposits, we are subject to fewer
regulations than businesses involved in those activities.</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Interest Rate Regulations.</I> Although the federal government does not regulate the maximum
interest rates that may be charged on commercial loan transactions, some states have enacted commercial rate laws specifying the
maximum legal interest rate at which loans can be made in the state. We only originate commercial loans and do so under the laws
of Utah. Utah laws set the interest rate amounts depending on the type of loan involved. Overall, Utah&rsquo;s interest rate laws
set the maximum rate at 10% unless there is a contract. When a contract fails to specify an interest rate it will be set at 10%.
Utah does not have any other rate limitations on commercial loans. Our lending team is headquartered in Salt Lake City, Utah, and
that is where the commercial loan contacts are made. We are also going to provide financing services in New York and California.
All loans originated directly by us provide that they are to be governed by Utah law. With respect to loans where we intend to
work with a partner or issuing bank, the partner bank may utilize the law of the jurisdiction applicable to the bank in connection
with its commercial loans.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Licensing Requirements. </I>Our loans are governed by Utah law. Currently, Utah does not require
us to have licenses to operate our commercial loan program. However, recent changes to the Commercial Financing Registration and
Disclosure Act of the State of Utah that will be effective on January 1, 2023, will require us to be registered with the Department
of Financial Institutions and provide our customers with certain disclosures related to the terms of financing in order for us
to continue engaging in commercial financing transactions in Utah. We are not subject to the licensing laws of any other state.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In the future, we expect to engage
in commercial lending in California and New York. If that occurs, we will be required to obtain certain licenses in those states.
California Financing Law requires any company engaging in the business of making or brokering commercial loans, whether secured
by real or personal property or unsecured, to obtain the California Financing Law (CFL) license and provide its customers with
certain disclosures related to the terms of financing. Under Article 9 of the New York Banking Law, we would be required to obtain
a license in order to engage in the business of making loans in the principal amount of $50,000 dollars or less for business and
commercial loans. New York Commercial Finance Disclosure Law also requires commercial finance providers to give standardized,
consumer disclosures to borrowers in connection with financings in an amount equal to or less than $2,500,000.</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; text-align: justify"></P>


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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are a commercial lender and as such
there are federal laws and regulations that affect our lending operations. These laws include, among others, portions of the Dodd
Frank Act, Anti-Money Laundering requirements (Bank Secrecy Act and USA PATRIOT Act), Equal Credit Opportunity Act, Fair Credit
Reporting Act, Privacy Regulations (Right to Financial Privacy Act), Telephone Consumer Protection Act, and requirements relating
to unfair, deceptive, or abusive acts or practices.</P>





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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Other Regulations.</I> We are subject
to a variety of other U.S. federal, state, and local laws and regulations, including, but not limited to, the Foreign Corrupt Practices
Act and other anti-bribery and anti-corruption statutes, and export sanction laws. We are also subject to state and U.S. federal
laws and regulations addressing some types of cargo transported or stored by our subsidiaries, or transported pursuant to a government
contract or subcontract.</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"><I>Classification of Independent Contractors.</I>
U.S. tax and other federal and state regulatory authorities, as well as private litigants, continue to assert that independent
contractor drivers in the trucking industry are employees rather than independent contractors, while applying a variety of standards
in their determinations of independent contractor status. Federal legislators have introduced legislation in the past to make it
easier for tax and other authorities to reclassify independent contractors as employees, including legislation to increase the
recordkeeping requirements and heighten the penalties for companies that misclassify workers and are found to have violated overtime
or wage requirements. Additionally, federal legislators have sought to abolish the current safe harbor, which allows taxpayers
that meet certain criteria to treat individuals as independent contractors if they are following a longstanding, recognized practice.
Federal legislators have also sought to expand the Fair Labor Standards Act to cover &ldquo;non-employees&rdquo; who perform labor
or services for businesses, even if said non-employees are properly classified as independent contractors; to require taxpayers
to provide written notice to workers based upon their classification as either an employee or a non-employee; and to impose penalties
and fines for violations of the notice requirement or for misclassifications. Some states have launched initiatives to increase
tax revenues from items such as unemployment, workers&rsquo; compensation and income taxes, and the reclassification of independent
contractors as employees could help states increase these revenues. In addition to these possible legislative changes, the National
Labor Relations Board (&ldquo;NLRB&rdquo;) and NLRB's general counsel have signaled the desire to reverse several pro-employer
precedents in order to make it more difficult for a worker to be classified as an independent contractor by changing the factors
used in determining worker classification. The NLRB has also entered into a Memorandum of Understanding with the U.S. Department
of Labor regarding the exchange of information and cooperation in enforcement activities regarding the misclassification of employees
as independent contractors. If the independent contractor drivers that provide services to us are determined to be our employees,
we could incur additional exposure under some or all of the following: federal and state employer taxes, workers&rsquo; compensation,
unemployment benefits, and labor, employment and tort laws, including for prior periods, as well as potential liability for employee
benefits and tax withholdings.</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; text-align: justify"><I>Environmental Regulations.</I> Our operations
and our independent contractors are subject to various environmental laws and regulations in the jurisdictions where we operate.
In the U.S., these laws and regulations deal with the hauling, handling and disposal of hazardous materials, emissions from vehicles,
engine-idling, fuel tanks and related fuel spillage and seepage, discharge and retention of storm water, and other environmental
matters that involve inherent environmental risks. We may be responsible for the cleanup of any spill or other incident involving
hazardous materials caused by our business. In the past, we have been responsible for the cost to clean up diesel fuel spills caused
by traffic accidents or other events, and none of these incidents materially affected our business or operations. We generally
transport only hazardous materials rated as low-to-medium-risk, and only a small percentage of our total loads contain hazardous
materials. We believe that our operations are in substantial compliance with current laws and regulations, and we do not know of
any existing environmental condition that reasonably would be expected to have a material adverse effect on our business or operating
results.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our technology and platform are comprised
of various copyrightable and/or patentable subject matter owned and/or licensed by eCommerce Finance. Our intellectual property
assets additionally include trade secrets associated with the software platform. We successfully carried out development of our
cloud-based software platform to underwrite and approve applications quickly to enable rapid scaling and acquisition of new customers.&nbsp;Our
technology platform aggregates and analyzes data points from multiple unique data sources and uses the latest in cloud-based technologies
and other modern tools to create a fast and seamless application and approval process. We prioritize building our own technology
as we believe this is an enduring competitive advantage that is difficult to replicate. This allows us to assess the growth prospects
and cash flow consistency of each small business and use machine-learning artificial intelligence to assist in the credit-making
decision. As a result, we can monetize our software by providing our customers with easier and more straightforward way in obtaining
financing for their business needs.</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With regard to exclusive and non-exclusive
licenses, there is a risk that these licenses could be construed in a manner that imposes unanticipated conditions or restrictions
on our platform. Additionally, if portions of our proprietary software are determined to be subject to an open-source license,
or if we do not correctly comply with the terms of the open-source software licenses applicable to our open-source software and
technology, it could result in costly litigation or lead to negative public relations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Occasionally, we may be targeted with patent
infringement lawsuits or copyright infringement lawsuits. These cases may be brought by non-practicing entities that sustain themselves
by suing other companies. Currently, the Company is not aware of any patent or copyright infringement suits against it or contemplated
to be brought against it.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 is the owner of multiple registered
and common law trademarks in connection with its technology and its services. The names and marks &ldquo;LeeWay Global Logistics&rdquo;,
and other trademarks, trade names, and service marks of the Company in this prospectus are the property of the Company or its subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Transportation is the owner of the
registered trademarks &ldquo;LeeWay Global Logistics&rdquo; and &ldquo;LW LeeWay Global Logistics&rdquo; logo designs in connection
with freight logistics management and freight transportation brokerage. LeeWay Transportation has 6 trademarks currently registered
with the United States Patents and Trademark Office. The complete list of the Company&rsquo;s trademarks as of the date of this
prospectus is filed with the registration statement of which this prospectus forms a part.&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: justify">This prospectus also contains additional
trademarks, trade names and service marks belonging to other companies. Solely for convenience, trademarks, trade names and service
marks referred to in this prospectus may appear without the &reg;, &trade; or SM symbols, but such references are not intended
to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the right of the applicable
licensor to these trademarks, trade names and service marks. We do not intend our use or display of other parties&rsquo; trademarks,
trade names, or service marks to imply, and such use or display should not be construed to imply, a relationship with, or endorsement
or sponsorship of us by, these other parties.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June 13, 2022, we had 22 full-time
employees and 3 part time employees in our Company and our wholly owned subsidiaries. Our operations are overseen directly by management.
Our management functions cover corporate administration, training, business development, technology, and research. We intend to
expand our current management to retain skilled employees with experience relevant to our business. We believe management&rsquo;s
relationship with our team is good. We do not have any collective bargaining agreements and our employees are not represented by
a union.</P>



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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our principal executive office is located
at 2150 South 1300 East, Suite 360, Salt Lake City, UT 84106. All our subsidiaries use this office as their principal executive
offices. Our total office space at the principal executive office is approximately 3,492 square feet. We believe our office space
is adequate for at least the next 12 months.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may become involved in legal proceedings
or be subject to claims arising in the ordinary course of our business. We are not presently a party to any legal proceedings that
in the opinion of our management, if determined adversely to us, would individually or taken together have a material adverse effect
on our business, financial condition or results of operations. There is no action, suit, proceeding, inquiry or investigation before
or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of our executive
officers, threatened against or affecting our Company or our officers or directors in their capacities as such.</P>

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following are our executive officers
and directors and their respective ages and positions as of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2022.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 28%; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Age</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 64%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Position</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">S. Whitfield Lee</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">78</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chairman of the Board, Chief Executive Officer and President </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">Keith Merrell</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">76</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">Jim Dreyfous*</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">67</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Independent Director Nominee</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">John Morrell&nbsp;&nbsp;*</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">74</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Independent Director Nominee</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">Charise Castagnoli, J.D.*</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">62</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Independent Director Nominee</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>






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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>*</B> Director Nominees are appointed to the Board of Directors
automatically as of the date that<B>&nbsp;</B>the Company&rsquo;s common stock is first listed on any nationally recognized stock
exchange.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>S. Whitfield Lee </B>has served as our
Chairman of the Board, Chief Executive Officer and President since the time of our formation in October of 2021. Currently and
for more than thirty years prior to the Company&rsquo;s formation, Mr. Lee served as the CEO and President of LeeWay Global Logistics
since its formation in 2015 and CEO and President of WLP since its formation in 1984. Mr. Lee also is and has been since their
formation the CEO and President of all of our other operating subsidiaries. Each of these businesses share our business address.
Mr. Lee is a true entrepreneur, having started and operated numerous companies covering diverse industry segments during his business
career. Mr. Lee, after completing graduate school, worked in New York City as an analyst working on mergers and acquisitions. He
has leveraged the experience and knowledge he gained there to numerous business acquisitions of his own, in addition to the companies
he has founded. Mr. Lee has been involved on several boards, ranging from for-profit businesses to non-profit, education, medical,
political and athletics. He holds degrees from both Harvard and the Wharton School of Business.</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;We believe Mr. Lee is qualified to serve on our board
of directors due to his extensive experience in managing companies and historical knowledge of our 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"><B>Keith Merrell</B> has served as our
Chief Financial Officer since our formation in October of 2021. From 2017 to 2021, Mr. Merrell severed as the financial analyst
for WLP, who is our parent. From 2010 to 2017, Mr. Merrell served as controller for Transfac Capital, Inc., a wholly owned subsidiary
of WLP. Mr. Merrell draws on many years of accounting experience to manage our accounting functions and interface with our independent
public accountants. He spent two years in the field of public accounting and has served as Chief Financial Officer for four other
public companies and served on the Board of Directors of two public companies. His business career includes extensive experience
in management, sales and marketing, consulting, workouts, and merger and acquisition work. Mr. Merrell came to W.L.P. Corporation
in 2011. He graduated from Arizona State University with a B.S. degree in Accounting.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Jim Dreyfous</B> spent the early years
of his career in banking, small business and the oil and gas business. Mr. Dreyfous founded Pelion Venture Partners in 1986 and
served as its Managing Director until his retirement in 2014. Under his leadership Pelion grew from a regional venture capital
firm to a major national investor in early-stage technologies. The fund raised over $950M from investors and deployed that into
early-stage companies throughout the United States. Since retiring in 2014, Mr. Dreyfous has served as a board member on over twenty
companies, including public, private and charitable entities. From 2017 to the present, he has served as a board member for the
Utah Natural History Museum, Tracy Aviary, both nonprofit organizations, and Interior Worx LLC, a private business. Mr. Dreyfous
graduated from Middlebury College. We believe that Mr. Dreyfous&rsquo;s experience in banking and technologies business makes him
well qualified to serve on our Board and as an independent member of the Board&rsquo;s committees.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>John Morrell</B> began his career with
Purolator Courier Corporation as a marketing analyst, rising to VP Marketing before leaving to become VP Sales for Wycoff, a transportation
company. Mr. Morrell has served as President of several private companies before being hired by a private equity group to do workouts.
Mr. Morrell has a wide range of experience on which to draw. Mr. Morrell semi-retired in 2011. Mr. Morrell has been employed by
Saddleback Fence and Vinyl Company as a management consultant from 2011 to the present. Since 2019 he has also served as President
of Costura LLC, a cutting and sewing operation which manufactures high-end products for the military and outdoor companies. Mr.
Morrell graduated from Manhattan College and received an MBA from Texas Christian University. We believe that Mr. Morrell&rsquo;s
experience in marketing and private equity makes him well qualified to serve on our Board and as an independent member of the Board&rsquo;s
committees.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>Charise Castagnoli, J.D.</B> has, during
her career, experience in both the transportation and fintech industries. From 2015 to 2018, she served as a VP and General Counsel
of Trucker Path, Inc., which developed the leading mobile application for the truck driving community, and served as General Manager
for Instapay Flexible, LLC, a company founded to provide fast funding for truckers from 2018 through 2021. She also has extensive
experience and certifications in the cyber security industry. Mrs. Castagnoli received a B.A in Computer Science from The University
of California Berkeley and a J.D. degree from The University of Texas School of Law. We believe that Mrs. Castagnoli&rsquo;s experience
in transportation and fintech industries makes her well qualified to serve on our Board and as an independent member of the Board&rsquo;s
committees.</P>



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

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


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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Board plans to adopt a written code
of business conduct and ethics (the &ldquo;Code&rdquo;) that applies to our directors, officers and employees, including our principal
executive officer, principal financial officer and principal accounting officer or controller, or persons performing similar functions.
We intend to post on our website a current copy of the Code and all disclosures that are required by law in regard to any amendments
to, or waivers from, any provision of the 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: 0pt 0; text-align: justify"><B>Board Leadership Structure and Risk
Oversight</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Board oversees our business and considers
the risks associated with our business strategy and decisions. The Board currently implements its risk oversight function as a
whole. Each of the Board committees, as set forth below, will also provide risk oversight in respect of its areas of concentration
and reports material risks to the board for further consideration.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Board of Directors</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Our business and
affairs are managed under the direction of our Board. Our Board consists of one member, who does not qualify as &ldquo;independent&rdquo;
under the listing standards of&nbsp;Nasdaq. As of
the date when<B>&nbsp;</B>the Company&rsquo;s common stock is first listed on any nationally recognized stock exchange, our Board
will consist of four (4) members, three (3) of whom qualify as &ldquo;independent&rdquo; under the listing standards of Nasdaq.</P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Directors serve until the next annual meeting
and until their successors are elected and qualified. Officers are appointed to serve for one year until the meeting of the Board
following the annual meeting of shareholders and until their successors have been elected and qualified.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>Director Independence</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">Prior to the closing of this initial public offering, the Board
will be composed of a majority of &ldquo;independent directors&rdquo; as defined under the rules of Nasdaq. We use the definition
of &ldquo;<I>independence</I>&rdquo; applied by Nasdaq to make this determination. Nasdaq Listing Rule 5605(a)(2) provides that
an &ldquo;<I>independent director</I>&rdquo; is a person other than an officer or employee of the company or any other individual
having a relationship which, in the opinion of the Board, would interfere with the exercise of independent judgment in carrying
out the responsibilities of a director. The Nasdaq listing rules provide that a director cannot be considered independent if:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the director is, or at any time during the past three (3) years was, an employee of the company;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the director or a family member of the director accepted any compensation from the company in excess of $120,000 during any period of twelve (12) consecutive months within the three (3) years preceding the independence determination (subject to certain exemptions, including, among other things, compensation for board or board committee service);</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the director or a family member of the director is a partner in, controlling shareholder of, or an executive officer of an entity to which the company made, or from which the company received, payments in the current or any of the past three fiscal years that exceed 5% of the recipient&rsquo;s consolidated gross revenue for that year or $200,000, whichever is greater (subject to certain exemptions);</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the director or a family member of the director is employed as an executive officer of an entity where, at any time during the past three (3) years, any of the executive officers of the company served on the compensation committee of such other entity; or</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the director or a family member of the director is a current partner of the company&rsquo;s outside auditor, or at any time during the past three (3) years was a partner or employee of the company&rsquo;s outside auditor, and who worked on the company&rsquo;s audit.</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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under such definitions, the Board has undertaken
a review of the independence of each director. Based on information provided by each director concerning his background, employment
and affiliations, the Board has determined that none of the current directors of the Company are independent directors of the Company.
However, our common stock is not currently quoted or listed on any national exchange or interdealer quotation system with a requirement
that a majority of our Board be independent and, therefore, the Company is not subject to any director independence requirements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B>Committees
of the Board of Directors</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prior to the commencement of this initial
public offering, the Board plans to establish an audit committee, a compensation committee and a nominating and a corporate governance
committee. The Board has not yet adopted procedures by which stockholders may recommend nominees to the Board. The composition
and responsibilities of each of the committees of the Board is described below. Members will serve on these committees until their
resignation or until as otherwise determined by the Board.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We will establish an audit committee consisting
of at least three directors, all of which will be &ldquo;independent&rdquo; as defined by NASDAQ and include an audit committee
financial expert within the meaning of Item 407(d) of Regulation S-K under the Securities Act. Our audit committee will consist
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
will be the Chairman of the audit committee. The audit committee&rsquo;s duties will be specified in a charter and include, but
not be limited to:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">reviewing and discussing with management and the independent auditor the annual audited financial statements, and recommending to the board whether the audited financial statements should be included in our annual disclosure report;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">discussing with management and the independent auditor significant financial reporting issues and judgments made in connection with the preparation of our financial statements;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">discussing with management major risk assessment and risk management policies;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">monitoring the independence of the independent auditor;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">verifying the rotation of the lead (or coordinating) audit partner having primary responsibility for the audit and the audit partner responsible for reviewing the audit as required by law;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">reviewing and approving all related party transactions;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">inquiring and discussing with management our compliance with applicable laws and regulations;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">pre-approving all audit services and permitted non-audit services to be performed by our independent auditor, including the fees and terms of the services to be performed;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">appointing or replacing the independent auditor;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">determining the compensation and oversight of the work of the independent auditor (including resolution of disagreements between management and the independent auditor regarding financial reporting) for the purpose of preparing or issuing an audit report or related work;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">establishing procedures for the receipt, retention and treatment of complaints received by us regarding accounting, internal accounting controls or reports which raise material issues regarding our financial statements or accounting policies; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">approving reimbursement of expenses incurred by our management team in identifying potential target businesses.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The audit committee is composed exclusively
of &ldquo;independent directors&rdquo; who are &ldquo;financially literate&rdquo; as defined under the NASDAQ listing standards.
The NASDAQ listing standards define &ldquo;financially literate&rdquo; as being able to read and understand fundamental financial
statements, including a company&rsquo;s balance sheet, income statement and cash flow 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">In addition, the Company intends to certify
to NASDAQ that the committee has, and will continue to have, at least one member who has past employment experience in finance
or accounting, requisite professional certification in accounting, or other comparable experience or background that results in
the individual&rsquo;s financial sophistication.</P>

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


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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We will establish a compensation committee
which will consist of at least three directors, all of which will be &ldquo;independent&rdquo; as defined by&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.
Our compensation committee will consist of , will be the Chairman of the committee. The compensation committee&rsquo;s duties will
be specified in a charter and will include, but not be limited 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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">reviewing, approving and determining, or making recommendations to our board of directors regarding, the compensation of our executive officers;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">administering our equity compensation plans;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">reviewing and approving, or making recommendations to our board of directors, regarding incentive compensation and equity compensation plans; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">establishing and reviewing general policies relating to compensation and benefits of our employees.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Nominating and Corporate Governance Committee</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We will establish a nominating and corporate
governance committee consisting of at least two directors, all of which will be &ldquo;independent&rdquo; as defined by&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.
Our nominating and corporate governance committee will consist of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; will be the Chairman of the committee.
The nominating and corporate governance committee&rsquo;s duties will be specified in a charter and will include, but not be limited
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%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">identifying, reviewing and evaluating candidates to serve on our board of directors consistent with criteria approved by our board of directors;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">evaluating director performance on our board of directors and applicable committees of our board of directors and determining whether continued service on our board of directors is appropriate;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">evaluating nominations by stockholders of candidates for election to our board of directors; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">corporate governance matters.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Family Relationships</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">There are no family relationships among
any of our officers or directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>Involvement in Certain Legal Proceedings</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">To our knowledge, none of our current directors
or executive officers has, during the past ten (10) years:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">been convicted in a criminal proceeding or been subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">had any bankruptcy petition filed by or against the business or property of the person, or of any partnership, corporation or business association of which he was a general partner or executive officer, either at the time of the bankruptcy filing or within two (2) years prior to that time;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">been subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction or federal or state authority, permanently or temporarily enjoining, barring, suspending or otherwise limiting, his involvement in any type of business, securities, futures, commodities, investment, banking, savings and loan, or insurance activities, or to be associated with persons engaged in any such activity;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">been found by a court of competent jurisdiction in a civil action or by the SEC or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">been the subject of, or a party to, any federal or state judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated (not including any settlement of a civil proceeding among private litigants), relating to an alleged violation of any federal or state securities or commodities law or regulation, any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order, or any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">been the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_013"></A>EXECUTIVE COMPENSATION</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"><B>Summary Compensation Table - Years Ended December 31, 2021
and 2020</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth information
concerning all cash and non-cash compensation awarded to, earned by or paid to the named persons for services rendered in all capacities
during the noted periods.&nbsp;No executive officer received total annual salary and bonus compensation in excess of $100,000.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">Name and Principal Position</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Year</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Salary($)<SUP>(1)</SUP></FONT></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Total($)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: left">S. Whitfield Lee</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">2021</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">12,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">12,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Chairman, Chief Executive Officer and President</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2020</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Paid by WLP</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Outstanding Equity Awards at Fiscal Year-End </B></P>





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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No executive officer named above had any
unexercised options, stock that has not vested or equity incentive plan awards outstanding as of December&nbsp;31, 2021.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have not maintained, and do not currently
maintain, a defined benefit pension plan or nonqualified deferred compensation plan. We currently make available a retirement plan
intended to provide benefits under Section&nbsp;401(k) of the Code, pursuant to which employees, including the executive officers
named above, can make voluntary&nbsp;pre-tax&nbsp;contributions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Potential Payments Upon Termination
or Change in Control</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There are no arrangements or understandings
with our named executive officers above pursuant to which they are entitled to compensation upon termination or a change of control
of our Company.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No member of the Board received any compensation
for their role as Board member during fiscal year ended December 31, 2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_014"></A>PRINCIPAL STOCKHOLDERS</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: 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth certain
information, as of June 13, 2022, with respect to the holdings of (1) each person who is the beneficial owner of more than 5% of
our voting stock, (2) each of our directors, (3) each executive officer, and (4) all of our current directors and executive officers
as a group.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Beneficial ownership of the voting stock
is determined in accordance with the rules of the SEC and includes any shares of Company voting stock over which a person exercises
sole or shared voting or investment power, or of which a person has a right to acquire ownership at any time within 60 days of
June 13, 2022. Except as otherwise indicated, we believe that the persons named in this table have sole voting and investment power
with respect to all shares of voting stock held by them. Applicable percentage ownership of common stock in the following table
is based on 30,000,000 shares of common stock issued and outstanding on June 13, 2022, and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
after the offering assuming a common stock offering of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares&nbsp;(excluding
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares which may be sold upon exercise of the underwriters&rsquo;
over-allotment option), plus, for each individual, any securities that individual has the right to acquire within 60 days of June
13, 2022.</P>



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



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

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the best of our knowledge, except as
otherwise indicated, each of the persons named in the table has sole voting and investment power with respect to the shares of
our common stock beneficially owned by such person, except to the extent such power may be shared with a spouse. To our knowledge,
none of the shares listed below are held under a voting trust or similar agreement, except as noted. To our knowledge, there is
no arrangement, including any pledge by any person of securities of the Company, the operation of which may at a subsequent date
result in a change in control of the Company.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Name and Address<BR> of Beneficial Owner<SUP>(1)</SUP></B></FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Position of Beneficial <BR>
Owner</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Beneficially<BR>
Owned</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percent of <BR>
Class<BR> Before <BR>
Offering</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percent of <BR> Class<BR> After <BR> Offering</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Officers and Directors</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; width: 29%; text-align: left">S. Whitfield Lee</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 25%; text-align: left">Chairman, Chief Executive Officer and President</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Keith Merrell</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Chief Financial Officer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Officers and Directors as a Group (total of 2 persons)</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">5% Stockholders</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">W.L.P. Corporation<SUP>(2)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">%</TD></TR>
</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; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Unless otherwise indicated, the principal address of the named officers and directors and 5% stockholders of the Company is c/o LeeWay Services, Inc., 2150 South 1300 East, Suite 360, Salt Lake City, UT 84106.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Held through W.L.P. Corporation, for which S. Whitfield Lee is
    the Chief Executive Officer. Mr. Lee has no voting or investment control over our common stock held by WLP. WLP&rsquo;s board
    of directors control the corporate investment activities of WLP. Mr. Lee is not a member of WLP&rsquo;s board of directors. The WLP Board of Directors is comprised of Chris Von Maack,
Jon Davies, the sons-in-law of S. Whitfield Lee, and Whitfield Lee, the son of S. Whitfield Lee.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We do not currently have any arrangements
which if consummated may result in a change of control of our 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: center"><B><A NAME="a_015"></A>CERTAIN RELATIONSHIPS AND RELATED PARTY
TRANSACTIONS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following includes a summary of transactions
since the beginning of our 2020 fiscal year, or any currently proposed transaction, in which we were or are to be a participant
and the amount involved exceeded or exceeds the lesser of $120,000 or one percent of the average of our total assets at year-end
for the last two completed fiscal years, and in which any related person (as defined under Item 404 of Regulation S-K under the
Securities Act of 1933) had or will have a direct or indirect material interest (other than compensation described under &ldquo;<I>Executive
Compensation</I>&rdquo; above). We believe the terms obtained or consideration that we paid or received, as applicable, in connection
with the transactions described below were comparable to terms available or the amounts that would be paid or received, as applicable,
in arm&rsquo;s-length transactions.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 1, 2018, eCommerce Funding
entered into a note payable in the amount of $500,000 with SWL Investments, an Oklahoma limited partnership owned and operated
by S. Whitfield Lee, our Chairman, Chief Executive Officer and President, to provide operating funds to LeeWay Capital. On April
1, 2019, the note was amended to provide up to a total of $1,500,000 in funding under the note; it was further amended on January
1, 2022 to provide for up to $2,200,000 in funding and extend the maturity date. The note bears interest at the rate of 12% per
annum and has a maturity date of November 1, 2027. Under the terms of the note the interest is to be accrued and is due and payable
with the principal on the maturity date. Funds are drawn against this note as required to fund the operations and business activities
of our Company. At March 31, 2022 and 2021 the funds drawn against this note were $1,516,895 and $1,723,555, respectively. As of
June 13, 2022, the outstanding note balance is $1,789,566.</P>

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



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_016"></A>DESCRIPTION
OF SECURITIES</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>The following summary description sets
forth some of the general terms and provisions of our capital stock. Because this is a summary description, it does not contain
all of the information that may be important to you. For a more detailed description of our capital stock, you should refer to
the applicable provisions of Nevada law, our charter and our bylaws as currently in effect. Copies of our articles of incorporation,
as amended, and our bylaws are included as exhibits to the registration statement of which this prospectus forms a part.</I></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are incorporated in the State of Nevada.
The rights of our shareholders are generally covered by Nevada law and our articles of incorporation and bylaws. The terms of our
capital stock are therefore subject to Nevada law, including the Nevada Revised Statues, and the common and constitutional law
of Nevada.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The total number of shares of stock which
the Company is authorized to issue is 200,000,000 shares of capital stock, consisting of 180,000,000 shares of common stock, $0.001
par value per share, and 20,000,000 shares of preferred stock, $0.001 par value 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: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June 13, 2022, we have 30,000,000
shares of common stock and 2,000 shares of preferred stock and issued and outstanding held by 1 stockholder of record.</P>



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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The holders of our common stock are entitled
to the following rights:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Voting Rights</U></I>. Each share
of our common stock entitles its holder to one vote per share on all matters to be voted or consented upon by the stockholders.
Holders of our common stock are not entitled to cumulative voting rights with respect to the election of directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Dividend Rights</U></I>. Subject
to limitations under Nevada law and preferences that may apply to any shares of preferred stock that we may decide to issue in
the future, holders of our common stock are entitled to receive ratably such dividends or other distributions, if any, as may be
declared by our Board out of funds legally available therefor.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Liquidation Rights</U></I>. In the
event of the liquidation, dissolution or winding up of our business, the holders of our common stock are entitled to share ratably
in the assets available for distribution after the payment of all of our debts and other liabilities, subject to the prior rights
of the holders of our preferred stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Other Matters</U></I>. The holders
of our common stock have no subscription, redemption or conversion privileges. Our common stock does not entitle its holders to
preemptive rights. All of the outstanding shares of our common stock are fully paid and non-assessable. The rights, preferences
and privileges of the holders of our common stock are subject to the rights of the holders of shares of any series of preferred
stock which we may issue in the future.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Series X Super Voting Preferred Stock</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 3, 2022, we filed a certificate
of designation with the Nevada Secretary of State to establish our Series&nbsp;X Super Voting Preferred Stock (&ldquo;Super Voting
Preferred Stock&rdquo;). We designated a total of 2,000&nbsp;shares of our preferred stock as Super Voting Preferred Stock. Our
Super Voting preferred stock has the following voting powers, designations, preferences and relative rights, qualifications, limitations
or restrictions:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Voting Rights</U></I>. Each share
of Super Voting Preferred Stock entitles the holder to 10,000 votes per share. Except as required by law, the holders of Super
Voting Preferred Stock vote with our common stock as a single class on all matters to be voted or consented upon by the stockholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Dividend Rights</U></I>. The holders
of our Super Voting Preferred Stock are not entitled to participate in dividends paid on our common stock.</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">On April 7, 2022 we filed the Certificate
of Amendment to Designation with the Nevada Secretary of State which causes each share of Super Voting Preferred Stock to automatically
convert into one share of the common stock of the Company on the date the common stock of the Company is first listed on any nationally
recognized stock exchange. Upon such conversion, the number of shares designated as Super Voting Preferred Stock shall be reduced
to zero.</P>

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Liquidation Rights</U></I>. The holders
of our Super Voting Preferred Stock are not entitled to any liquidation preference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Other Matters</U></I>. The holders
of our Super Voting Preferred Stock have no redemption or conversion privileges and are not entitled to any participation or preemptive
rights.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Board has the authority to issue additional
preferred stock in one or more classes or series and to fix the designations, powers, preferences and rights, and the qualifications,
limitations or restrictions thereof including dividend rights, dividend rates, conversion rights, voting rights, terms of redemption,
redemption prices, liquidation preferences and the number of shares constituting any class or series, without further vote or action
by the stockholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">While we do not currently have any plans
for the issuance of any additional preferred stock, the issuance of additional preferred stock could adversely affect the rights
of the holders of common stock and, therefore, reduce the value of the common stock. It is not possible to state the actual effect
of the issuance of any shares of preferred stock on the rights of holders of the common stock until the Board of Directors determines
the specific rights of the holders of the preferred stock; however, these effects may include:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Restricting dividends on the common stock;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Diluting the voting power of the common stock;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Impairing the liquidation rights of the common stock; or</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Delaying or preventing a change in control of the Company without further action by the stockholders</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have not issued any warrants to purchase
or options exercisable for our capital stock.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The &ldquo;business combination&rdquo;
provisions of Sections 78.411 to 78.444, inclusive, of the <I>Nevada Revised Statutes</I> (&ldquo;NRS&rdquo;) generally prohibit
a Nevada corporation with at least 200 stockholders from engaging in various &ldquo;combination&rdquo; transactions with any interested
stockholder for a period of two years after the date of the transaction in which the person became an interested stockholder, unless
the transaction is approved by the board of directors prior to the date the interested stockholder obtained such status or the
combination is approved by the board of directors and thereafter is approved at a meeting of the stockholders by the affirmative
vote of stockholders representing at least 60% of the outstanding voting power held by disinterested stockholders, and extends
beyond the expiration of the two-year period, unless:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the combination was approved by the board of directors prior to the person becoming an interested stockholder or the transaction by which the person first became an interested stockholder was approved by the board of directors before the person became an interested stockholder or the combination is later approved by a majority of the voting power held by disinterested stockholders; or</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">if the consideration to be paid by the interested stockholder is at least equal to the highest of: (a) the highest price per share paid by the interested stockholder within the two years immediately preceding the date of the announcement of the combination or in the transaction in which it became an interested stockholder, whichever is higher, (b) the market value per share of common stock on the date of announcement of the combination and the date the interested stockholder acquired the shares, whichever is higher, or (c) for holders of preferred stock, the highest liquidation value of the preferred stock, if it is higher.</FONT></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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A &ldquo;combination&rdquo; is generally
defined to include mergers or consolidations or any sale, lease exchange, mortgage, pledge, transfer, or other disposition, in
one transaction or a series of transactions, with an &ldquo;interested stockholder&rdquo; having: (a) an aggregate market value
equal to 5% or more of the aggregate market value of the assets of the corporation, (b) an aggregate market value equal to 5% or
more of the aggregate market value of all outstanding shares of the corporation, (c) 10% or more of the earning power or net income
of the corporation, and (d) certain other transactions with an interested stockholder or an affiliate or associate of an interested
stockholder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In general, an &ldquo;interested stockholder&rdquo;
is a person who, together with affiliates and associates, owns (or within two years, did own) 10% or more of a corporation&rsquo;s
voting stock. The statute could prohibit or delay mergers or other takeover or change in control attempts and, accordingly, may
discourage attempts to acquire our Company even though such a transaction may offer our stockholders the opportunity to sell their
stock at a price above the prevailing market price.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The &ldquo;control share&rdquo; provisions
of Sections 78.378 to 78.3793, inclusive, of the NRS apply to &ldquo;issuing corporations&rdquo; that are Nevada corporations with
at least 200 stockholders, including at least 100 stockholders of record who are Nevada residents, and that conduct business directly
or indirectly in Nevada. The control share statute prohibits an acquirer, under certain circumstances, from voting its shares of
a target corporation&rsquo;s stock after crossing certain ownership threshold percentages, unless the acquirer obtains approval
of the target corporation&rsquo;s disinterested stockholders. The statute specifies three thresholds: one-fifth or more but less
than one-third, one-third but less than a majority, and a majority or more, of the outstanding voting power. Generally, once an
acquirer crosses one of the above thresholds, those shares in an offer or acquisition and acquired within 90 days thereof become
&ldquo;control shares&rdquo; and such control shares are deprived of the right to vote until disinterested stockholders restore
the right. These provisions also provide that if control shares are accorded full voting rights and the acquiring person has acquired
a majority or more of all voting power, all other stockholders who do not vote in favor of authorizing voting rights to the control
shares are entitled to demand payment for the fair value of their shares in accordance with statutory procedures established for
dissenters&rsquo; rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A corporation may elect to not be governed
by, or &ldquo;opt out&rdquo; of, the control share provisions by making an election in its articles of incorporation or bylaws,
provided that the opt-out election must be in place on the 10th day following the date an acquiring person has acquired a controlling
interest, that is, crossing any of the three thresholds described above. We have not opted out of the control share statutes, and
will be subject to these statutes if we are an &ldquo;issuing corporation&rdquo; as defined in such statutes.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 effect of the Nevada control share
statutes is that the acquiring person, and those acting in association with the acquiring person, will obtain only such voting
rights in the control shares as are conferred by a resolution of the stockholders at an annual or special meeting. The Nevada control
share law, if applicable, could have the effect of discouraging takeovers of our Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Transfer Agent and Registrar</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">The transfer agent and registrar for our common stock will be
Vstock Transfer LLC.</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>Listing</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have applied to have our common stock listed on the Nasdaq
Capital Market under the symbol &ldquo;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&rdquo; which listing is a condition
to this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_017"></A>SHARES
ELIGIBLE FOR FUTURE SALE</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There is not currently an established U.S.
trading market for our common stock. We cannot predict the effect, if any, that market sales of shares of our common stock or the
availability of shares of our common stock for sale will have on the market price of our common stock prevailing from time to time.
Sales of substantial amounts of our common stock in the public market after this offering, could adversely affect market prices
prevailing from time to time and could impair our ability to raise capital through the sale of our equity securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon completion of the sale of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
shares of common stock pursuant to this offering, we will have &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares
of common stock issued and outstanding. In the event the underwriters exercise the over-allotment option in full, we will have
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of common stock issued and outstanding. The common stock sold
in this offering will be freely tradable without restriction or further registration or qualification under the Securities Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Previously issued shares of common stock
that were not offered and sold in this offering, are or will be upon issuance, &ldquo;restricted securities,&rdquo; as that term
is defined in Rule 144 under the Securities Act. These restricted securities are eligible for public sale only if such public resale
is registered under the Securities Act or if the resale qualifies for an exemption from registration under Rule 144 under the Securities
Act, which are summarized below.</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In general, a person who has beneficially
owned restricted shares of our common stock for at least six months in the event we have been a reporting company under the Exchange
Act for at least ninety (90) days before the sale, would be entitled to sell such securities, provided that such person is not
deemed to be an affiliate of ours at the time of sale or to have been an affiliate of ours at any time during the ninety (90) days
preceding the sale. A person who is an affiliate of ours at such time would be subject to additional restrictions, by which such
person would be entitled to sell within any three-month period only a number of shares that does not exceed the greater of the
following:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">1% of the number of shares of our common stock then outstanding; or</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2.65pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">1% of the average weekly trading volume of our common stock during the four calendar weeks preceding the filing by such person of a notice on Form 144 with respect to the sale;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">provided that, in each case, we are subject
to the periodic reporting requirements of the Exchange Act for at least 90 days before the sale. Rule 144 trades must also comply
with the manner of sale, notice and other provisions of Rule 144, to the extent applicable.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We, all of our directors and officers and
all of our stockholders have agreed with the underwriters, subject to certain exceptions, not to sell, transfer or dispose of,
directly or indirectly, any of our common stock or securities convertible into or exercisable or exchangeable for our common stock
for a period of (i) 180 days after the date of this prospectus in the case of our Company, (ii) 12&nbsp;months after the date of
this prospectus in the case of our directors and officers, and (iii) 180 days after the date of this prospectus in the case of
our stockholders.&nbsp;For additional information regarding our arrangement with the underwriters, please see &ldquo;<I>Underwriting&mdash;Lock-Up
Agreements</I>.&rdquo;</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_018"></A>MATERIAL
U.S. FEDERAL INCOME TAX CONSIDERATIONS FOR NON-U.S. HOLDERS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following is a summary of the material
United States federal income tax consequences of the purchase, ownership and disposition of our common stock that is being issued
pursuant to this offering. This summary is limited to Non-U.S. Holders (as defined below) that hold our common stock as a capital
asset (generally, property held for investment) for United States federal income tax purposes. This summary does not discuss all
of the aspects of United States federal income taxation that may be relevant to a Non-U.S. Holder in light of the Non-U.S. Holder&rsquo;s
particular investment or other circumstances. Accordingly, all prospective Non-U.S. Holders should consult their own tax advisors
with respect to the United States federal, state, local and non-United States tax consequences of the purchase, ownership and disposition
of our common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This summary is based on provisions of
the Code, applicable United States Treasury regulations and administrative and judicial interpretations, all as in effect or in
existence on the date of this prospectus. Subsequent developments in United States federal income tax law, including changes in
law or differing interpretations, which may be applied retroactively, could alter the United States federal income tax consequences
of owning and disposing of our common stock as described in this summary. There can be no assurance that the IRS will not take
a contrary position with respect to one or more of the tax consequences described herein and we have not obtained, nor do we intend
to obtain, a ruling from the IRS with respect to the United States federal income tax consequences of the ownership or disposition
of our common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As used in this summary, the term &ldquo;Non-U.S.
Holder&rdquo; means a beneficial owner of our common stock that is not, for United States federal income tax purposes:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">an individual who is a citizen or resident of the United States;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">a corporation (or other entity treated as a corporation) created or organized in or under the laws of the United States, any state thereof, or the District of Columbia;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">an entity or arrangement treated as a partnership;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">an estate whose income is includible in gross income for United States federal income tax purposes regardless of its source; or</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">a trust, if (1)&nbsp;a United States court is able to exercise primary supervision over the trust&rsquo;s administration and one or more &ldquo;United States persons&rdquo; (within the meaning of the Code) has the authority to control all of the trust&rsquo;s substantial decisions, or (2)&nbsp;the trust has a valid election in effect under applicable United States Treasury regulations to be treated as a United States person.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If an entity or arrangement treated as
a partnership for United States federal income tax purposes holds our common stock, the tax treatment of a partner in such a partnership
generally will depend upon the status of the partner, the activities of the partnership and certain determinations made at the
partner level. Partnerships, and partners in partnerships, that hold our common stock should consult their own tax advisors as
to the particular United States federal income tax consequences of owning and disposing of our common stock that are applicable
to them.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 summary does not consider any specific
facts or circumstances that may apply to a Non-U.S. Holder, including the impact of the Medicare contribution tax on net investment
income and the alternative minimum tax, and does not address any special tax rules that may apply to particular Non-U.S. Holders,
including, without limitation:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">a Non-U.S. Holder that is a financial institution, insurance company, tax-exempt organization, pension plan, broker, dealer or trader in stocks or securities, foreign currency dealer, U.S. covered expatriate, controlled foreign corporation or passive foreign investment company;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">a Non-U.S. Holder holding our common stock as part of a conversion, constructive sale, wash sale or other integrated transaction or a hedge, straddle or synthetic security;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">a Non-U.S. Holder that holds or receives our common stock pursuant to the exercise of any employee stock option or otherwise as compensation; or</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">a Non-U.S. Holder that at any time owns, directly, indirectly or constructively, 5% or more of our outstanding common stock.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, this summary does not address
any U.S. state or local, or non-U.S. or other tax consequences, or any United States federal income tax consequences for beneficial
owners of a Non-U.S. Holder, including stockholders of a controlled foreign corporation or passive foreign investment company that
holds our common stock. This summary also does not address the effects of other United States federal tax laws, such as estate
and gift tax laws.</P>

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Each Non-U.S. Holder should consult
its tax advisor regarding the United States federal, state, local and non-U.S. income and other tax consequences of owning and
disposing of our common stock.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We do not currently expect to pay any cash
dividends on our common stock. If we make distributions of cash or property (other than certain pro rata distributions of our common
stock) with respect to our common stock, any such distributions generally will constitute dividends for United States federal income
tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under United States federal
income tax principles. If a distribution exceeds our current and accumulated earnings and profits, the excess will be treated as
a nontaxable return of capital to the extent of the Non-U.S. Holder&rsquo;s adjusted tax basis in its common stock and will reduce
(but not below zero) such Non-U.S. Holder&rsquo;s adjusted tax basis in its common stock. Any remaining excess will be treated
as gain from a disposition of our common stock subject to the tax treatment described below in &ldquo;<I>&mdash;Dispositions of
Our Common Stock</I>.&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">Subject to the discussion below on effectively
connected income, dividends paid to a Non-U.S. Holder of our common stock will be subject to United States federal withholding
tax at a rate of 30% of the gross amount of the dividends (or such lower rate specified by an applicable income tax treaty, provided
the Non-U.S. Holder furnishes a valid IRS Form W-8BEN or W-8BEN-E (or other applicable documentation) certifying qualification
for the lower treaty rate).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Distributions on our common stock that
are treated as dividends and that are effectively connected with a Non-U.S. Holder&rsquo;s conduct of a trade or business in the
United States will be taxed on a net income basis at the regular graduated rates and in the manner applicable to U.S. persons.
An exception may apply if the Non-U.S. Holder is eligible for, and properly claims, the benefit of an applicable income tax treaty
and the dividends are not attributable to a permanent establishment or fixed base maintained by the Non-U.S. Holder in the United
States. In such case, the Non-U.S. Holder may be eligible for a lower rate under an applicable income tax treaty between the United
States and its jurisdiction of tax residence. Dividends that are effectively connected with a Non-U.S. Holder&rsquo;s conduct of
a trade or business in the United States will not be subject to the United States withholding tax if the Non-U.S. Holder provides
to the applicable withholding agent a properly executed IRS Form W-8ECI (or other applicable form) in accordance with the applicable
certification and disclosure requirements. A Non-U.S. Holder treated as a corporation for United States federal income tax purposes
may also be subject to a &ldquo;branch profits tax&rdquo; at a 30% rate (unless the Non-U.S. Holder is eligible for a lower rate
under an applicable income tax treaty) on the Non-U.S. Holder&rsquo;s earnings and profits (attributable to dividends on our common
stock or otherwise) that are effectively connected with the Non-U.S. Holder&rsquo;s conduct of a trade or business within the United
States.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The IRS Forms and other certifications
described above must be provided to the applicable withholding agent prior to the payment of dividends and must be updated periodically.
A Non-U.S. Holder may obtain a refund or credit of any excess amounts withheld by timely filing an appropriate claim for a refund
with the IRS in the form of a U.S. tax return. Non-U.S. Holders should consult their tax advisors regarding their eligibility for
benefits under a relevant income tax treaty and the manner of claiming such benefits.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 discussion is subject to
the discussions below under &ldquo;<I>&mdash;Backup Withholding and Information Reporting</I>&rdquo; and &ldquo;<I>&mdash;FATCA
Withholding</I>.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Dispositions of Our Common Stock</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">A Non-U.S. Holder generally will not be
subject to United States federal income tax (including United States withholding tax) on gain recognized on any sale or other disposition
of our common stock unless:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the gain is effectively connected with the Non-U.S. Holder&rsquo;s conduct of a trade or business in the United States (and, if required by an applicable income tax treaty, is attributable to a permanent establishment or fixed base maintained by the Non-U.S. Holder in the United States); in this case, the gain will be subject to United States federal income tax on a net income basis at the regular rates and in the manner applicable to United States&nbsp;persons (unless an applicable income tax treaty provides otherwise) and, if the Non-U.S. Holder is treated as a corporation for United States federal income tax purposes, the &ldquo;branch profits tax&rdquo; described above may also apply;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the Non-U.S. Holder is an individual who is present in the United States for 183 days or more in the taxable year of the disposition and meets certain other requirements; in this case, except as otherwise provided by an applicable income tax treaty, the gain, which may be offset by certain United States source capital losses (provided the Non-U.S. Holder has timely filed United States federal income tax returns with respect to such losses), generally will be subject to a flat 30% United States federal income tax, even if the Non-U.S. Holder is not treated as a resident of the United States under the Code; or</FONT></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"></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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">we are or have been a &ldquo;United States real property holding corporation&rdquo; for United States federal income tax purposes at any time during the shorter of (i) the five-year period ending on the date of disposition and (ii) the period that the Non-U.S. Holder held our common stock.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Generally, a corporation is a &ldquo;United
States real property holding corporation&rdquo; if the fair market value of its &ldquo;United States real property interests&rdquo;
equals or exceeds 50% of the sum of the fair market value of its worldwide real property interests plus its other assets used or
held for use in a trade or business. We believe that we are not currently, and we do not anticipate becoming in the future, a United
States real property holding corporation. However, because the determination of whether we are a United States real property holding
corporation is made from time to time and depends on the relative fair market values of our assets, there can be no assurance in
this regard. If we were a United States real property holding corporation, the tax relating to disposition of stock in a United
States real property holding corporation generally will not apply to a Non-U.S. Holder whose holdings, direct, indirect and constructive,
constituted 5% or less of our common stock at all times during the applicable period, provided that our common stock is &ldquo;regularly
traded on an established securities market&rdquo; (as provided in applicable United States Treasury regulations) at any time during
the calendar year in which the disposition occurs. However, no assurance can be provided that our common stock will be regularly
traded on an established securities market for purposes of the rules described above. Non-U.S. Holders should consult their tax
advisors regarding the possible adverse United States federal income tax consequences to them if we are, or were to become, a United
States real property holding corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 discussion is subject to
the discussions below under &ldquo;<I>&mdash;Backup Withholding and Information Reporting</I>&rdquo; and &ldquo;<I>&mdash;FATCA
Withholding</I>.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Backup Withholding and Information Reporting</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">Backup withholding (currently at a rate
of 24%) will not apply to payments of dividends on our common stock to a Non-U.S. Holder if the Non-U.S. Holder provides to the
applicable withholding agent a properly executed IRS Form W-8BEN or W-8BEN-E (or other applicable form) certifying under penalties
of perjury that the Non-U.S. Holder is not a United States person or is otherwise entitled to an exemption. However, the applicable
withholding agent generally will be required to report to the IRS (and to such Non-U.S. Holder) payments of distributions on our
common stock and the amount of United States federal income tax, if any, withheld from those payments, regardless of whether such
distributions constitute dividends. In accordance with applicable treaties or agreements, the IRS may provide copies of such information
returns to the tax authorities in the country in which the Non-U.S. Holder resides.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 gross proceeds from sales or other
dispositions of our common stock may be subject, in certain circumstances discussed below, to United States backup withholding
and information reporting. If a Non-U.S. Holder sells or otherwise disposes of our common stock outside the United States through
a non-United States office of a non-United States broker and the disposition proceeds are paid to the Non-U.S. Holder outside the
United States, then the United States backup withholding and information reporting requirements generally will not apply to that
payment. However, United States information reporting, but not United States backup withholding, will apply to a payment of disposition
proceeds, even if that payment is made outside the United States, if a Non-U.S. Holder sells our common stock through a non-United
States office of a broker that is a United States person or has certain enumerated connections with the United States, unless the
broker has documentary evidence in its files that the Non-U.S. Holder is not a United States person and certain other conditions
are met or the Non-U.S. Holder otherwise qualifies for an exemption.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If a Non-U.S. Holder receives payments
of the proceeds of a disposition of our common stock to or through a United States office of a broker, the payment will be subject
to both United States backup withholding and information reporting unless the Non-U.S. Holder provides to the broker a properly
executed IRS Form W-8BEN or W-8BEN-E (or other applicable form) certifying under penalties of perjury that the Non-U.S. Holder
is not a United States person, or the Non-U.S. Holder otherwise qualifies for an exemption.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Backup withholding is not an additional
tax. Any amounts withheld under the backup withholding rules may be credited against the Non-U.S. Holder&rsquo;s United States
federal income tax liability (which may result in the Non-U.S. Holder being entitled to a refund), provided that the required information
is timely furnished to the IRS.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Foreign Account Tax Compliance Act
and related Treasury guidance (commonly referred to as FATCA) impose United States federal withholding tax at a rate of 30% on
payments to certain foreign entities of (i)&nbsp;U.S. source dividends (including dividends paid on our common stock) and (ii)&nbsp;(subject
to the proposed Treasury Regulations discussed below) the gross proceeds from the sale or other disposition of property that produces
U.S. source dividends (including sales or other dispositions of our common stock). This withholding tax applies to a foreign entity,
whether acting as a beneficial owner or an intermediary, unless such foreign entity complies with (i)&nbsp;certain information
reporting requirements regarding its United States account holders and its United States owners and (ii)&nbsp;certain withholding
obligations applicable to certain payments to its account holders and certain other persons. Accordingly, the entity through which
a Non-United States Holder holds its common stock will affect the determination of whether such withholding is required. Foreign
financial institutions located in jurisdictions that have an intergovernmental agreement with the United States governing FATCA
may be subject to different rules.</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the applicable Treasury Regulations
and administrative guidance, withholding under FATCA generally will apply to payments of dividends on our common stock. While withholding
under FATCA would have applied also to payments of gross proceeds from the sale or other disposition of stock on or after January
1, 2019, proposed Treasury Regulations eliminate FATCA withholding on payments of gross proceeds. Taxpayers generally may rely
on these proposed Treasury Regulations until final Treasury Regulations are issued.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Non-U.S. Holders are encouraged to consult
their tax advisors regarding FATCA.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_019"></A>UNDERWRITING</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ThinkEquity LLC is the representative for
the several underwriters of this offering, or the representative. We have entered into an underwriting agreement with the underwriters
named below. Subject to the terms and conditions of the underwriting agreement, we have agreed to sell to the underwriters, and
each underwriter has agreed, severally and not jointly, to purchase, at the public offering price less the underwriting discounts
set forth on the cover page of this prospectus, the number of shares of common stock at the initial public offering price, less
the underwriting discounts and commissions, as set forth on the cover page of this prospectus, the number of shares of common stock
listed next to its name in the following table:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 52%; border-bottom: black 1pt solid">
        <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>Underwriter</B></P></TD>
    <TD STYLE="width: 1%; padding: 1.5pt 1.5pt 1pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 23%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Number of<BR>
Shares</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding: 1.5pt 1.5pt 1pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 23%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Number of Shares if <BR>
Over-allotment Option<BR>
is Fully Exercised</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">ThinkEquity LLC</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><B>Totals:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</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: 0pt 0; text-align: justify">The underwriters are committed to purchase
all, if any, shares offered by us other than those covered by the over-allotment option described below, if any are purchased.
The obligations of the underwriters may be terminated upon the occurrence of certain events specified in the underwriting agreement.
Furthermore, the underwriting agreement provides that the obligations of the underwriters to pay for and accept delivery of the
shares offered by us in this prospectus are subject to various representations and warranties and other customary conditions specified
in the underwriting agreement, such as receipt by the representative of officers&rsquo; certificates and legal opinions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have agreed to indemnify the underwriters
against specified liabilities, including liabilities under the Securities Act, and to contribute to payments the underwriters may
be required to make in respect thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The underwriters are offering the shares
of common stock subject to prior sale, when, as and if issued to and accepted by them, subject to approval of legal matters by
its counsel and other conditions specified in the underwriting agreement. The underwriters reserve the right to withdraw, cancel
or modify offers to the public and to reject orders in whole or in part.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have granted the underwriters an over-allotment
option. This option, which is exercisable for up to 45 days after the date of this prospectus, permits the underwriters to purchase
up to an aggregate of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; additional shares of common stock (equal to
15% of the common stock sold in this offering) at the public offering price per share, less underwriting discounts and commissions,
solely to cover over-allotments, if any. To the extent the option is exercised, each underwriter will become obligated, subject
to certain conditions, to purchase about the same percentage of the additional shares of common stock as the number listed next
to the underwriter&rsquo;s name in the preceding table that bears to the total number of shares of common stock listed next to
the names of all underwriters in the preceding table.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Discounts, Commissions and Reimbursement</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: 0; text-align: justify">The underwriters have advised us that the underwriters
propose to offer the shares of common stock to the public at the initial public offering price per share set forth on the cover
page of this prospectus. The underwriters may offer shares to securities dealers at that price less a concession of not more than
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share of which up to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; per share may be reallowed to other dealers. After the initial offering to the public, the public
offering price and other selling terms may be changed by the underwriters.</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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarizes the underwriting
discounts and commissions, non-accountable underwriters&rsquo; expense allowance and proceeds, before expenses, to us assuming
both no exercise and full exercise by the underwriters of their over-allotment option:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Per Share</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Offering without<BR> Over-Allotment<BR> Option</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Offering with<BR> Over-Allotment<BR> Option</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 64%">Public offering price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Underwriting discounts and commissions (7.5%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Non-accountable expense allowance (1%)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Proceeds, before expenses, to us</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have agreed to pay the representative
a non-accountable expense allowance of 1% of the gross proceeds of the offering. We estimate that the total expenses, excluding
underwriting discounts and commissions and the 1% non-accountable expense allowances, will be approximately $ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
all of which are payable by us. This figure includes expense reimbursements we have agreed to pay the representative for reimbursement
of its actual accountable expenses related to the offering up to a maximum aggregate expense allowance of $154,500, for which we
have paid a $35,000 advance, which will be returned to us to the extent not offset by actual expenses in accordance with FINRA
Rule 5110(f)(2)(C).</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Underwriters&rsquo; Warrants</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">As additional compensation to the underwriters,
upon consummation of this offering, we will issue to the underwriters or their designees warrants to purchase an aggregate number
of shares of our common stock equal to 5% of the number of shares of common stock issued in this offering, at an exercise price
per share equal to 125% of the initial public offering price (the &ldquo;Underwriters Warrants&rdquo;). The Underwriter Warrant
and the underlying shares of common stock shall not be sold during the offering, or sold, transferred, assigned, pledged, or hypothecated,
or be the subject of any hedging, short sale, derivative, put, or call transaction that would result in the effective economic
disposition of the securities by any person for a period of 180 days immediately following the commencement of sales of the public
offering in accordance with FINRA Rule 5110(e). The Underwriters&rsquo; Warrants will be exercisable, in whole or in part, commencing
180 days from the effective date of the offering and will expire on the fifth anniversary of the effective date of the registration
statement related to the offering in accordance with FINRA Rule 5110(f)(2)(G)(i). In addition, we have granted the underwriters
a one-time demand registration right and unlimited &ldquo;piggyback&rdquo; registration rights with respect to the underlying shares.
The demand registration rights will not be greater than 5 years from the effective date of the registration statement related to
the offering in compliance with FINRA Rule 5110(f)(2)(G)(iv). The piggyback registration right will not be greater than 5 years
from the effective date of the registration statement related to the offering in compliance with FINRA Rule 5110(f)(2)(G)(v).</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>Right of First Refusal</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Until twelve (12) months from the closing
of this offering, the representative shall have an irrevocable right of first refusal to act as sole investment banker, sole book-runner
and/or sole placement agent, at the representative&rsquo;s sole discretion, for each and every future public and private equity
and debt offerings (excluding commercial bank debt) for our Company, or any successor to or any subsidiary of our Company that
occurs during such 12 month period, including all equity linked financings, on terms customary to the representative. The representative
shall have the sole right to determine whether or not any other broker-dealer shall have the right to participate in any such offering
and the economic terms of any such participation. The representative will not have more than one opportunity to waive or terminate
the right of first refusal in consideration of any such transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Discretionary Accounts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The underwriters do not intend to confirm
sales of the securities offered hereby to any accounts over which they have discretionary authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Lock-Up Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We agreed that for a period of 180 days
after the date of this prospectus we will not, without the prior written consent of the representative and subject to certain exceptions,
directly or indirectly:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of our capital stock or any securities convertible into or exercisable or exchangeable for shares of our capital stock; </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">file or caused to be filed any registration statement with SEC relating to the offering of any shares of our capital or any securities convertible into or exercisable or exchangeable for shares of our capital stock;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">complete any offering of our debt securities, other than entering into a line of credit with a traditional bank; or</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of our capital stock, whether any such transaction is to be settled by delivery of shares of capital stock or such other securities, in cash or otherwise.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, each of our directors, officers
and stockholders have agreed that for a period of (i) 12 months after the date of this prospectus in the case of our directors
and officers and (ii) 180 days after the date of this prospectus in the case of our stockholders, without the prior written consent
of the representative and subject to certain exceptions, they will not directly or indirectly:</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">offer, pledge, sell, contract to sell, grant, lend, or otherwise transfer or dispose of, directly or indirectly, any of our common stock or any securities convertible into or exercisable or exchangeable for common stock;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of our common stock or any securities convertible into or exercisable or exchangeable for common stock, whether any such transaction is to be settled by delivery of shares of common stock or such other securities, in cash or otherwise; </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">make any demand for or exercise any right with respect to the registration of any common stock or any securities convertible into or exercisable or exchangeable for common stock; or </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">publicly disclose the intention to make any offer, sale, pledge or disposition, or to enter into any transaction, swap, hedge or other arrangement relating to any common stock or any securities convertible into or exercisable or exchangeable for common stock. </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"><B>Electronic Offer, Sale and Distribution
of Securities</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">A prospectus in electronic format may be
made available on the websites maintained by the underwriters or selling group members. The underwriters may agree to allocate
a number of securities to selling group members for sale to its online brokerage account holders. Internet distributions will be
allocated by the underwriters and selling group members that will make internet distributions on the same basis as other allocations.
Other than the prospectus in electronic format, the information on these websites is not part of, nor incorporated by reference
into, this prospectus or the registration statement of which this prospectus forms a part, has not been approved or endorsed by
us, and should not be relied upon by investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Stabilization</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with this offering, the underwriters
may engage in stabilizing transactions, over-allotment transactions, syndicate-covering transactions, penalty bids and purchases
to cover positions created by short sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Stabilizing transactions permit bids to
purchase shares so long as the stabilizing bids do not exceed a specified maximum and are engaged in for the purpose of preventing
or retarding a decline in the market price of the shares while this offering is in progress.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Over-allotment transactions involve sales
by the underwriters of shares in excess of the number of shares the underwriters are obligated to purchase. This creates a syndicate
short position which may be either a covered short position or a naked short position. In a covered short position, the number
of shares over-allotted by the underwriters are not greater than the number of shares that they may purchase in the over-allotment
option. In a naked short position, the number of shares involved is greater than the number of shares in the over-allotment option.
The underwriters may close out any short position by exercising their over-allotment option and/or purchasing shares in the open
market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Syndicate covering transactions involve
purchases of shares in the open market after the distribution has been completed in order to cover syndicate short positions. In
determining the source of shares to close out the short position, the underwriters will consider, among other things, the price
of shares available for purchase in the open market as compared with the price at which it may purchase shares through exercise
of the over-allotment option. If the underwriters sell more shares than could be covered by exercise of the over-allotment option
and, therefore, have a naked short position, the position can be closed out only by buying shares in the open market. A naked short
position is more likely to be created if the underwriters are concerned that after pricing there could be downward pressure on
the price of the shares in the open market that could adversely affect investors who purchase in this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Penalty bids permit an underwriter to reclaim
a selling concession from a syndicate member when the shares originally sold by that syndicate member are purchased in stabilizing
or syndicate covering transactions to cover syndicate short positions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These stabilizing transactions, syndicate
covering transactions and penalty bids may have the effect of raising or maintaining the market price of our shares of common stock
or preventing or retarding a decline in the market price of our shares of common stock. As a result, the price of our common stock
in the open market may be higher than it would otherwise be in the absence of these transactions. Neither we nor the underwriters
make any representation or prediction as to the effect that the transactions described above may have on the price of our common
stock. These transactions may be effected in the over-the-counter market or otherwise and, if commenced, may be discontinued at
any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Passive Market Making</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with this offering, underwriters
and selling group members may engage in passive market making transactions in our common stock on the &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in accordance with Rule 103
of Regulation M under the Exchange Act, during a period before the commencement of offers or sales of the securities and extending
through the completion of the distribution. A passive market maker must display its bid at a price not in excess of the highest
independent bid of that security. However, if all independent bids are lowered below the passive market maker's bid, then that
bid must then be lowered when specified purchase limits are exceeded</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Other Relationships</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The underwriters and their affiliates may
in the future provide various investment banking, commercial banking and other financial services for us and our affiliates for
which they may in the future receive customary fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Offer Restrictions Outside the United
States</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">Other than in the United States, no action
has been taken by us or the underwriters that would permit a public offering of the securities offered by this prospectus in any
jurisdiction where action for that purpose is required. The securities offered by this prospectus may not be offered or sold, directly
or indirectly, nor may this prospectus or any other offering material or advertisements in connection with the offer and sale of
any such securities be distributed or published in any jurisdiction, except under circumstances that will result in compliance
with the applicable rules and regulations of that jurisdiction. Persons into whose possession this prospectus comes are advised
to inform themselves about and to observe any restrictions relating to this offering and the distribution of this prospectus. This
prospectus does not constitute an offer to sell or a solicitation of an offer to buy any securities offered by this prospectus
in any jurisdiction in which such an offer or a solicitation is unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Australia</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This prospectus is not a disclosure document
under Chapter 6D of the Australian Corporations Act, has not been lodged with the Australian Securities and Investments Commission
and does not purport to include the information required of a disclosure document under Chapter 6D of the Australian Corporations
Act. Accordingly, (i) the offer of the securities under this prospectus is only made to persons to whom it is lawful to offer the
securities without disclosure under Chapter 6D of the Australian Corporations Act under one or more exemptions set out in section
708 of the Australian Corporations Act, (ii) this prospectus is made available in Australia only to those persons as set forth
in clause (i) above, and (iii) the offeree must be sent a notice stating in substance that by accepting this offer, the offeree
represents that the offeree is such a person as set forth in clause (i) above, and, unless permitted under the Australian Corporations
Act, agrees not to sell or offer for sale within Australia any of the securities sold to the offeree within 12 months after its
transfer to the offeree under this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>China</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The information in this document does not constitute
a public offer of the securities, whether by way of sale or subscription, in the People&rsquo;s Republic of China (excluding, for
purposes of this paragraph, Hong Kong Special Administrative Region, Macau Special Administrative Region and Taiwan). The securities
may not be offered or sold directly or indirectly in the PRC to legal or natural persons other than directly to &ldquo;qualified
domestic institutional investors.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>European Economic Area&mdash;Belgium, Germany,
Luxembourg and Netherlands</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The information in this document has been prepared
on the basis that all offers of securities will be made pursuant to an exemption under the Directive 2003/71/EC (&ldquo;Prospectus
Directive&rdquo;), as implemented in Member States of the European Economic Area (each, a &ldquo;Relevant Member State&rdquo;),
from the requirement to produce a prospectus for offers of securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">An offer to the public of securities has not
been made, and may not be made, in a Relevant Member State except pursuant to one of the following exemptions under the Prospectus
Directive as implemented in that Relevant Member State:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to legal entities that are authorized or regulated to operate in
the financial markets or, if not so authorized or regulated, whose corporate purpose is solely to invest in securities;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to any legal entity that has two or more of (i) an average of at
least 250 employees during its last fiscal year; (ii) a total balance sheet of more than &euro;43,000,000 (as shown on its last
annual unconsolidated or consolidated financial statements) and (iii) an annual net turnover of more than &euro;50,000,000 (as
shown on its last annual unconsolidated or consolidated financial statements);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to fewer than 100 natural or legal persons (other than qualified
investors within the meaning of Article 2(1)(e) of the Prospectus Directive) subject to obtaining the prior consent of the Company
or any underwriter for any such offer; or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in any other circumstances falling within Article 3(2) of the Prospectus
Directive, provided that no such offer of securities shall result in a requirement for the publication by the Company of a prospectus
pursuant to Article 3 of the Prospectus Directive.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>France</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This document is not being distributed in the
context of a public offering of financial securities (offre au public de titres financiers) in France within the meaning of Article
L.411-1 of the French Monetary and Financial Code (Code Mon&eacute;taire et Financier) and Articles 211-1 et seq. of the General
Regulation of the French Autorit&eacute; des march&eacute;s financiers (&ldquo;AMF&rdquo;). The securities have not been offered
or sold and will not be offered or sold, directly or indirectly, to the public in France.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This document and any other offering material
relating to the securities have not been, and will not be, submitted to the AMF for approval in France and, accordingly, may not
be distributed or caused to distributed, directly or indirectly, to the public in France.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Such offers, sales and distributions have been
and shall only be made in France to (i) qualified investors (investisseurs qualifi&eacute;s) acting for their own account, as defined
in and in accordance with Articles L.411-2-II-2&deg; and D.411-1 to D.411-3, D.744-1, D.754-1 ;and D.764-1 of the French Monetary
and Financial Code and any implementing regulation and/or (ii) a restricted number of non-qualified investors (cercle restreint
d&rsquo;investisseurs) acting for their own account, as defined in and in accordance with Articles L.411-2-II-2&deg; and D.411-4,
D.744-1, D.754-1; and D.764-1 of the French Monetary and Financial Code and any implementing regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to Article 211-3 of the General Regulation
of the AMF, investors in France are informed that the securities cannot be distributed (directly or indirectly) to the public by
the investors otherwise than in accordance with Articles L.411-1, L.411-2, L.412-1 and L.621-8 to L.621-8-3 of the French Monetary
and Financial Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Ireland</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The information in this document does not constitute
a prospectus under any Irish laws or regulations and this document has not been filed with or approved by any Irish regulatory
authority as the information has not been prepared in the context of a public offering of securities in Ireland within the meaning
of the Irish Prospectus (Directive 2003/71/EC) Regulations 2005 (the &ldquo;Prospectus Regulations&rdquo;). The securities have
not been offered or sold, and will not be offered, sold or delivered directly or indirectly in Ireland by way of a public offering,
except to (i) qualified investors as defined in Regulation 2(l) of the Prospectus Regulations and (ii) fewer than 100 natural or
legal persons who are not qualified investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Israel</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The securities offered by this prospectus have
not been approved or disapproved by the Israeli Securities Authority (the ISA), or ISA, nor have such securities been registered
for sale in Israel. The shares may not be offered or sold, directly or indirectly, to the public in Israel, absent the publication
of a prospectus. The ISA has not issued permits, approvals or licenses in connection with the offering or publishing the prospectus;
nor has it authenticated the details included herein, confirmed their reliability or completeness, or rendered an opinion as to
the quality of the securities being offered. Any resale in Israel, directly or indirectly, to the public of the securities offered
by this prospectus is subject to restrictions on transferability and must be effected only in compliance with the Israeli securities
laws and regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Italy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The offering of the securities in the Republic
of Italy has not been authorized by the Italian Securities and Exchange Commission (Commissione Nazionale per le Societ&mdash;$$&mdash;Aga
e la Borsa, &ldquo;CONSOB&rdquo; pursuant to the Italian securities legislation and, accordingly, no offering material relating
to the securities may be distributed in Italy and such securities may not be offered or sold in Italy in a public offer within
the meaning of Article 1.1(t) of Legislative Decree No. 58 of 24 February 1998 (&ldquo;Decree No. 58&rdquo;), other than:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to Italian qualified investors, as defined in Article 100 of Decree
no.58 by reference to Article 34-ter of CONSOB Regulation no. 11971 of 14 May 1999 (&ldquo;Regulation no. 1197l&rdquo;) as amended
(&ldquo;Qualified Investors&rdquo;); and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in other circumstances that are exempt from the rules on public offer
pursuant to Article 100 of Decree No. 58 and Article 34-ter of Regulation No. 11971 as amended.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Any offer, sale or delivery of the securities
or distribution of any offer document relating to the securities in Italy (excluding placements where a Qualified Investor solicits
an offer from the issuer) under the paragraphs above must be:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">made by investment firms, banks or financial intermediaries permitted to conduct such activities
in Italy in accordance with Legislative Decree No. 385 of 1 September 1993 (as amended), Decree No. 58, CONSOB Regulation No. 16190
of 29 October 2007 and any other applicable laws; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">in compliance with all relevant Italian securities, tax and exchange controls and any other applicable
laws.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Any subsequent distribution of the securities
in Italy must be made in compliance with the public offer and prospectus requirement rules provided under Decree No. 58 and the
Regulation No. 11971 as amended unless an exception from those rules applies. Failure to comply with such rules may result in the
sale of such securities being declared null and void and in the liability of the entity transferring the securities for any damages
suffered by the investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Japan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The securities have not been and will not be
registered under Article 4, paragraph 1 of the Financial Instruments and Exchange Law of Japan (Law No. 25 of 1948), as amended
(the &ldquo;FIEL&rdquo;) pursuant to an exemption from the registration requirements applicable to a private placement of securities
to Qualified Institutional Investors (as defined in and in accordance with Article 2, paragraph 3 of the FIEL and the regulations
promulgated thereunder). Accordingly, the securities may not be offered or sold, directly or indirectly, in Japan or to, or for
the benefit of, any resident of Japan other than Qualified Institutional Investors. Any Qualified Institutional Investor who acquires
securities may not resell them to any person in Japan that is not a Qualified Institutional Investor, and acquisition by any such
person of securities is conditional upon the execution of an agreement to that effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Portugal</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This document is not being distributed in the
context of a public offer of financial securities (oferta p&uacute;blica de valores mobili&aacute;rios) in Portugal, within the
meaning of Article 109 of the Portuguese Securities Code (C&oacute;digo dos Valores Mobili&aacute;rios). The securities have not
been offered or sold and will not be offered or sold, directly or indirectly, to the public in Portugal. This document and any
other offering material relating to the securities have not been, and will not be, submitted to the Portuguese Securities Market
Commission (Comiss&#259;o do Mercado de Valores Mobili&aacute;rios) for approval in Portugal and, accordingly, may not be distributed
or caused to distributed, directly or indirectly, to the public in Portugal, other than under circumstances that are deemed not
to qualify as a public offer under the Portuguese Securities Code. Such offers, sales, and distributions of securities in Portugal
are limited to persons who are &ldquo;qualified investors&rdquo; (as defined in the Portuguese Securities Code). Only such investors
may receive this document and they may not distribute it, or the information contained in it to any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Sweden</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This document has not been, and will not be,
registered with or approved by Finansinspektionen (the Swedish Financial Supervisory Authority). Accordingly, this document may
not be made available, nor may the securities be offered for sale in Sweden, other than under circumstances that are deemed not
to require a prospectus under the Swedish Financial Instruments Trading Act (1991:980) (Sw. lag (1991:980) om handel med finansiella
instrument). Any offering of securities in Sweden is limited to persons who are &ldquo;qualified investors&rdquo; (as defined in
the Financial Instruments Trading Act). Only such investors may receive this document and they may not distribute it or the information
contained in it to any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Switzerland</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The securities may not be publicly offered
in Switzerland and will not be listed on the SIX Swiss Exchange (&ldquo;SIX&rdquo;) or on any other stock exchange or regulated
trading facility in Switzerland. This document has been prepared without regard to the disclosure standards for issuance prospectuses
under art. 652a or art. 1156 of the Swiss Code of Obligations or the disclosure standards for listing prospectuses under art. 27
ff. of the SIX Listing Rules or the listing rules of any other stock exchange or regulated trading facility in Switzerland. Neither
this document nor any other offering material relating to the securities may be publicly distributed or otherwise made publicly
available in Switzerland.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Neither this document nor any other offering
material relating to the securities have been or will be filed with or approved by any Swiss regulatory authority. In particular,
this document will not be filed with, and the offer of securities will not be supervised by, the Swiss Financial Market Supervisory
Authority (FINMA).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This document is personal to the recipient
only and not for general circulation in Switzerland.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>United Arab Emirates</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Neither this document nor the securities have
been approved, disapproved, or passed on in any way by the Central Bank of the United Arab Emirates or any other governmental authority
in the United Arab Emirates, nor has the Company received authorization or licensing from the Central Bank of the United Arab Emirates
or any other governmental authority in the United Arab Emirates to market or sell the securities within the United Arab Emirates.
This document does not constitute and may not be used for the purpose of an offer or invitation. No services relating to the securities,
including the receipt of applications and/or the allotment or redemption of such shares, may be rendered within the United Arab
Emirates by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">No offer or invitation to subscribe for securities
is valid or permitted in the Dubai International Financial Centre.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>United Kingdom</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Neither the information in this document nor
any other document relating to the offer has been delivered for approval to the Financial Services Authority in the United Kingdom
and no prospectus (within the meaning of section 85 of the Financial Services and Markets Act 2000, as amended (&ldquo;FSMA&rdquo;)
has been published or is intended to be published in respect of the securities. This document is issued on a confidential basis
to &ldquo;qualified investors&rdquo; (within the meaning of section 86(7) of FSMA) in the United Kingdom, and the securities may
not be offered or sold in the United Kingdom by means of this document, any accompanying letter or any other document, except in
circumstances which do not require the publication of a prospectus pursuant to section 86(1) FSMA. This document should not be
distributed, published or reproduced, in whole or in part, nor may its contents be disclosed by recipients to any other person
in the United Kingdom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Any invitation or inducement to engage in investment
activity (within the meaning of section 21 of FSMA) received in connection with the issue or sale of the securities has only been
communicated or caused to be communicated and will only be communicated or caused to be communicated in the United Kingdom in circumstances
in which section 21(1) of FSMA does not apply to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the United Kingdom, this document is being
distributed only to, and is directed at, persons (i) who have professional experience in matters relating to investments falling
within Article 19(5) (investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005
(&ldquo;FPO&rdquo;), (ii) who fall within the categories of persons referred to in Article 49(2)(a) to (d) (high net worth companies,
unincorporated associations, etc.) of the FPO or (iii) to whom it may otherwise be lawfully communicated (together &ldquo;relevant
persons&rdquo;). The investments to which this document relates are available only to, and any invitation, offer or agreement to
purchase will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this
document or any of its contents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Canada</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The securities may be sold in Canada only to
purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument
45-106 Prospectus Exemptions or subsection 73.3(1) of the Securities Act (Ontario), and are permitted clients, as defined in National
Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. Any resale of the securities must be
made in accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities
laws. Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission
or damages if this prospectus (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission
or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser&rsquo;s
province or territory. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser&rsquo;s
province or territory for particulars of these rights or consult with a legal advisor. Pursuant to section 3A.3 of National Instrument
33-105 Underwriting Conflicts (NI 33-105), the underwriters are not required to comply with the disclosure requirements of NI33-105
regarding underwriter conflicts of interest in connection with this offering.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_020"></A>LEGAL
MATTERS </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain legal matters with respect to the
validity of the securities being offered by this prospectus will be passed upon by Carmel, Milazzo &amp; Feil LLP, New York, New
York. Bevilacqua PLLC, Washington, D.C., is acting as counsel for the representative of the underwriters with respect to the 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: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_021"></A>EXPERTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fruci and Associates II, PLLC, an independent
certified public accounting firm, audited our financial statements for the years ended December 31, 2021 and 2020. We have included
our financial statements in this prospectus and elsewhere in the registration statement in reliance on the reports of Fruci and
Associates II, PLLC, given on their authority as experts in accounting and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_022"></A>WHERE
YOU CAN FIND MORE INFORMATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">We have filed
with the SEC a registration statement on Form S-1 under the Securities Act with respect to the shares of our common stock offered
by this prospectus. This prospectus, which constitutes a part of the registration statement, does not contain all of the information
set forth in the registration statement, some of which is contained in exhibits to the registration statement as permitted by the
rules and regulations of the SEC. For further information with respect to us and our common stock, we refer you to the registration
statement, including the exhibits filed as a part of the registration statement. Statements contained in this prospectus concerning
the contents of any contract or any other document is not necessarily complete. If a contract or document has been filed as an
exhibit to the registration statement, please see the copy of the contract or document that has been filed. Each statement in this
prospectus relating to a contract or document filed as an exhibit is qualified in all respects by the filed exhibit. You may obtain
copies of this information by mail from the Public Reference Section of the SEC, 100 F Street, N.E., Room 1580, Washington, D.C.
20549, at prescribed rates. You may obtain information on the operation of the public reference rooms by calling the SEC at 1-800-SEC-0330.
The SEC also maintains an Internet website that contains reports, proxy statements and other information about issuers, like us,
that file electronically with the SEC. The address of that website is <I>www.sec.gov</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Upon the effectiveness
of the registration statement, we will be subject to the information and reporting requirements of the Exchange Act and, in accordance
with this law, will be required to file periodic reports, proxy statements and other information with the SEC. These periodic reports,
proxy statements and other information are available for inspection and copying at the SEC&rsquo;s public reference facilities
and the website of the SEC referred to above. We also maintain a website at <I>www.leewayservices.com</I>. You may access these materials free of
charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC. Information contained
on our website is not a part of this prospectus and the inclusion of our website address in this prospectus is an inactive textual
reference only.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="indexto"></A>FINANCIAL STATEMENTS</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"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 90%"><A HREF="#unaudited"><FONT STYLE="font-size: 10pt">Unaudited Consolidated Financial Statements</FONT></A></TD>
    <TD STYLE="text-align: center; width: 10%"><A HREF="#unaudited">F-2</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#balancesheet"><FONT STYLE="font-size: 10pt">Consolidated Balance Sheets &ndash; March 31, 2022 and December 31, 2021</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#balancesheet"><FONT STYLE="font-size: 10pt">F-3</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#stateofoperation"><FONT STYLE="font-size: 10pt">Consolidated Statements of Operations &ndash; For the Three Months Ended March 31, 2022 and 2021</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#stateofoperation"><FONT STYLE="font-size: 10pt">F-4</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#shareholder"><FONT STYLE="font-size: 10pt">Consolidated Statements of Shareholders&rsquo; Deficit &ndash; For the Three Months Ended March 31, 2022 and 2021</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#shareholder"><FONT STYLE="font-size: 10pt">F-5</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#cashflow"><FONT STYLE="font-size: 10pt">Consolidated Statements of Cash Flows &ndash; For the Three Months Ended March 31, 2022 and 2021</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#cashflow"><FONT STYLE="font-size: 10pt">F-6</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#notesto"><FONT STYLE="font-size: 10pt">Notes to the Consolidated Financial Statements</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#notesto"><FONT STYLE="font-size: 10pt">F-7</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_023"><FONT STYLE="font-size: 10pt">Audited Combined Financial Statements</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#a_023">F-15</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>

<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_001"><FONT STYLE="font-size: 10pt">Report of Independent Registered Public Accounting Firm</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#fin_001"><FONT STYLE="font-size: 10pt">F-16</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_002"><FONT STYLE="font-size: 10pt">Combined Balance Sheets &ndash; December 31, 2021 and 2020</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#fin_002"><FONT STYLE="font-size: 10pt">F-17</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_003"><FONT STYLE="font-size: 10pt">Com</FONT>bined <FONT STYLE="font-size: 10pt">Statements of Operations &ndash; For the Years Ended December 31, 2021 and 2020</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#fin_003"><FONT STYLE="font-size: 10pt">F-18</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_004"><FONT STYLE="font-size: 10pt">Com</FONT>bined <FONT STYLE="font-size: 10pt">Statements of Shareholders&rsquo; Deficit &ndash; For the Years Ended December 31, 2021 and 2020</FONT></A></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A HREF="#fin_004">F-19</A></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_005"><FONT STYLE="font-size: 10pt">Combined Statements of Cash Flows &ndash; For the Years Ended December 31, 2021 and 2020</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#fin_005"><FONT STYLE="font-size: 10pt">F-20</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_006"><FONT STYLE="font-size: 10pt">Notes to the Com</FONT>bined <FONT STYLE="font-size: 10pt">Financial Statements</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#fin_006"><FONT STYLE="font-size: 10pt">F-21</FONT></A></TD></TR>
</TABLE>
<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"></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: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LeeWay Services, Inc.</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><A NAME="unaudited"></A>Consolidated Financial Statements (Unaudited)</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>At March 31, 2022 and 2021</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>and for the Three Months Then Ended </B></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; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LEEWAY SERVICES, INC. AND SUBSIDIARIES</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><A NAME="balancesheet"></A>CONSOLIDATED BALANCE SHEETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B>&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">March 31, 2022 <BR> (Unaudited)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>December 31, </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2021</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">ASSETS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Current Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left">Cash and cash equivalents</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">326,322</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">337,938</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Accounts receivable, transportation, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,350,600</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,848,326</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Accounts receivable, financing, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,905,209</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,750,136</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Deposits and prepaid expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">74,108</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">59,838</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Total Current Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,656,239</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,996,238</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Property and Equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">516,454</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">527,401</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Operating lease right-of-use asset</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,207</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,110</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Deferred income tax asset</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">57,674</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">57,674</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total Assets</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">9,244,574</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,605,423</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">LIABILITIES AND STOCKHOLDERS' EQUITY</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Current Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,347,332</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,601,419</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Accrued liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">473,776</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">315,901</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Short-term debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">685,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">685,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Operating lease liability &ndash; current portion</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,629</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,261</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Notes payable - related party</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,775,476</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,723,555</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Total Current Liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,297,213</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,352,136</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Long-term Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Subordinated debt</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,516,895</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,723,206</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Total Liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,814,108</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,075,342</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Stockholders' Equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-align: left; text-indent: -10pt">Preferred stock &ndash; $0.001 par value; 20,000,000 shares authorized; 2,000
    shares issued and outstanding</TD><TD> </TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left">Common stock &ndash; $0.001 par value; 180,000,000 shares authorized; 30,000,000 and 30,000,000
    shares issued and outstanding, respectively</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Accumulated deficit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">400,464</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(499,921</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Total Stockholders' Equity (Deficit)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">430,466</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(469,919</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total Liabilities and Stockholders' Equity</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">9,244,574</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,605,423</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part
of these consolidated financial statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LEEWAY SERVICES, INC. AND SUBSIDIARIES</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><A NAME="stateofoperation"></A>CONSOLIDATED STATEMENTS OF OPERATIONS</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>(UNAUDITED)</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"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">For the Three Months</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">Ended March 31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2022</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Revenues</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Transportation income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">12,082,377</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">4,451,434</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Financing service income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">151,347</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">137,647</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,233,724</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,589,081</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Cost of goods sold</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transportation costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,633,516</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,901,746</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financing costs</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">71,961</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">29,655</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total cost of goods sold</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,705,477</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,931,401</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Gross profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,528,247</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">657,680</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Operating Costs and Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payroll and consultants</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,251,623</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">408,187</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">85,996</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">63,943</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">254,576</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">123,337</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">35,667</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,664</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Total Operating Costs and Expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,627,862</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">604,131</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Income from Operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">900,385</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">53,549</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Other Income and Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(6,475</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Net Other Income (Expense)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(6,475</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Income before income tax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">900,385</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47,074</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Income tax expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net income</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">900,385</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">47,074</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Basic and diluted earnings per share</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.03</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.00</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Basic and Diluted Weighted Average Common Shares Outstanding</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">30,000,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">30,000,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part
of these consolidated financial statements</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></B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LEEWAY SERVICES, INC. AND SUBSIDIARIES</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><A NAME="shareholder"></A>CONSOLIDATED STATEMENTS OF STOCKHOLDERS&rsquo;
EQUITY (DEFICIT)</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>For the Three Months Ended March 31,
2022 and 2021</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(UNAUDITED)&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Preferred Stock</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Common Stock</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Additional <BR> Paid-in</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Accumulated</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Total <BR> Stockholders&rsquo;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt"></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Shares</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Amount</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Shares</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Amount</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"> Capital</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"> Deficit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 30%; font-weight: bold">Balance &ndash; December 31, 2021</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">2,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 7%; text-align: right">2</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">30,000,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 7%; text-align: right">30,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 7%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 7%; text-align: right">(499,921</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 7%; text-align: right">(469,919</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt">Net income &ndash; three months ended March 31, 2022</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">900,385</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">900,385</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">Balance &ndash; March 31, 2022</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,000,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">400,464</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">430,466</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></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>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Preferred Stock</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Common Stock</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Additional <BR> Paid-in </TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Accumulated</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center">Total <BR> Stockholders&rsquo; </TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Shares</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Amount</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Shares</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Amount</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Capital</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"> Deficit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 30%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Balance &ndash; December 31,
2020</B></P></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">2,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 7%; text-align: right">2</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">30,000,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 7%; text-align: right">30,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 7%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 7%; text-align: right">(1,457,341</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 7%; text-align: right">(1,427,339</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt">Net income &ndash; three months ended March 31, 2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">47,074</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">47,074</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">Balance &ndash; March 31, 2021</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,000,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(1,410,267</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(1,380,265</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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">The accompanying notes are an integral part
of these consolidated financial statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- 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>LEEWAY SERVICES, INC. AND SUBSIDIARIES
</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"><A NAME="cashflow"></A><B>&nbsp;CONSOLIDATED STATEMENTS OF CASH
FLOWS</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>(UNAUDITED)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">For the Three Months</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Ended March 31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2022</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;Cash Flows from Operating Activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Net income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">900,385</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">47,074</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net loss to net cash used in operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">35,667</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,664</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred tax asset</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,491</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,657,347</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(406,599</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(14,270</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,575</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease &ndash; Right-of-use asset</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,903</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,903</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">745,913</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">172,260</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">157,875</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,998</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(10,632</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(10,632</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;Net Cash Provided by (Used in) Operating Activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">167,494</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(163,398</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Cash Flows from Investing Activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Investment
    in property and equipment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(24,720</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(10,301</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;Net Cash Provided by (Used in) Investing Activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(24,720</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(10,301</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Cash Flows from Financing
Activities:</B></P></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 20pt; text-align: left">Proceeds from borrowings under note payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">51,921</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">795,996</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Payment on subordinated debt</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(206,311</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(674,859</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;Net Cash Provided by (Used in) Financing Activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(154,390</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">121,137</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;Net Change in Cash and Cash Equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,616</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(52,562</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;Cash and Cash Equivalents at Beginning of Period</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">337,938</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">293,078</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;Cash and Cash Equivalents at End of Period</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">326,322</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">240,516</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;Supplemental Cash Flow Information:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Cash paid for income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;Cash paid for interest</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part
of these consolidated financial statements</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; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LEEWAY SERVICES, INC. AND SUBSIDIARIES</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><A NAME="notesto"></A>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</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>MARCH 31, 2022</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>(UNAUDITED)</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: justify"><B>NOTE 1<I>&ndash; </I>SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Consolidated Interim Financial Statements
&ndash; </I></B>The accompanying unaudited consolidated financial statements include the accounts of LeeWay Services, Inc. (the
&ldquo;Company&rdquo;). These financial statements are and, therefore, do not include all disclosures normally required by accounting
principles generally accepted in the United States of America. Therefore, these statements should be read in conjunction with the
most recent annual consolidated financial statements of LeeWay Services, Inc. for the year ended December 31, 2021 included in
the Company&rsquo;s Form S-1 filed with the Securities and Exchange Commission on June 13, 2022. In particular, the Company&rsquo;s
significant accounting principles were presented as Note 1 to the Consolidated Financial Statements in that report.&nbsp;In the
opinion of management, all adjustments necessary for a fair presentation have been included in the accompanying consolidated financial
statements and consist of only normal recurring adjustments. The results of operations presented in the accompanying consolidated
financial statements are not necessarily indicative of the results that may be expected for the full year ending December 31, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Nature of Operations</I></B> &ndash;
LeeWay Services, Inc. (the Company) was incorporated under the laws of the State of Nevada on October 12, 2021. The Company was
organized to engage in any lawful activity for which corporations may be organized under Nevada statute.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Services, Inc. has two wholly owned
subsidiaries: LeeWay Transportation, Inc., a corporation incorporated under the laws of the State of Nevada on July 1, 2015, as
LeeWay Global Logistics, Inc. and LeeWay Capital, Inc., a corporation incorporated under the laws of the State of Utah on September
25, 2014, as Bridge Capital Lenders, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 principal business of LeeWay Transportation,
Inc. is to provide technology-based third-party logistics (3PL) and comprehensive management solutions for shippers, brokers and
carriers in the transportation industry. LeeWay Transportation, Inc. has two wholly owned subsidiaries: LeeWay Global Logistics
LLC, a limited liability company organized under the laws of the State of Nevada on September 6, 2007, and LeeWay Freight Lines,
a corporation incorporated under the laws of the State of California on September 19, 1957, as Evans Talk Line, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 principal business of LeeWay Capital,
Inc. is to provide financial services for a broad range of clients. LeeWay Capital has two wholly owned subsidiaries: eCommerce
Financing, a limited liability company organized under the laws of the State of Utah on June 13, 2018, and eCommerce Funding, a
limited liability company organized under the laws of the State of Utah on November 2, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 COVID-19 Pandemic (&ldquo;the Pandemic&rdquo;)
has had a dramatic effect on our business as well as the business of our customers. The wide-ranging effects on the world-wide
business market has led to a general reluctance for businesses to move forward with entering into major commitments until their
future markets have been clarified. Because of this, we have experienced a significant slowdown in the size and number of contracts
received and, while we cannot predict when the influence of the Pandemic will end, we expect that contracts for services and financing
will return to their former levels and increase following a return to normal business operations.</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"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Use of Estimates &ndash; </I></B>The
preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities at the date of the combined financial statements and
the reported amounts of revenue and expenses during the reporting periods. &nbsp;Actual results could differ from those estimates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Cash and Cash Equivalents &ndash;
</I></B>Cash and cash equivalents are considered to be cash, as are highly liquid securities with original maturities of three
months or less. While the total cash on hand at March 31, 2022, of $326,322 exceeds the FDIC insurance limit of $250,000, the total
cash balance is comprised of accounts at several banks. The total cash in all accounts at any one financial institution at March
31, 2022, does not exceed the $250,000 FDIC insurance limit and are therefore not at risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Fair Value Measurements</I> -&nbsp;</B>The
fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability
in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial
liabilities are marked to offer prices. The fair value should be calculated based on assumptions that market participants would
use in pricing the asset or liability, not on assumptions specific to the entity. In addition, the fair value of liabilities should
include consideration of non-performance risk, including the party&rsquo;s own credit risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value measurements do not include
transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine
fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair
value measurement. The fair value hierarchy is defined into the following three categories:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Level 1: Quoted market prices
in active markets for identical assets or liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Level 2: Observable inputs other
than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume
or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or
can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities.</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">Level 3: Unobservable inputs
to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the extent that valuation is based on
models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment.
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases,
for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is disclosed and is determined
based on the lowest level input that is significant to the fair value measurement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The carrying value of the Company&rsquo;s
cash, accounts payable, short-term borrowings (including convertible notes payable), and other current assets and liabilities approximate
fair value because of their short-term maturity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Accounts Receivable &ndash; </I></B>Accounts
receivables are presented net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for
estimated losses. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when
there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances,
the Company considers a number of factors, including the age of the balance, a customer&rsquo;s historical payment history, its
current creditworthiness and current economic trends. Accounts are written off only after exhaustive efforts at collection. At
March 31, 2022 and December 31, 2021, the Company had transportation accounts receivable, net of the allowance, of $6,350,600 and
$4,848,326, respectively, and financing accounts receivable, net of the allowance, of $1,905,209 and $1,750,136, respectively.
At March 31, 2022 and December 31, 2021, the allowance for doubtful accounts was $460,079 and $379,693, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts Receivable &ndash; Transportation:
Invoice terms for our freight brokerage business are generally net 30. However, to capture the business of our largest account,
we were required to extend terms of net 60, as that is the term they currently received. Our accounts are monitored and, 7-10 days
before the due date, the client is contacted to insure they have all documents required in order for them to make payment. Any
missing documents are immediately provided to ensure that payment will be made timely.</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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts Receivable &ndash; Financing:
Amounts due under the Company&rsquo;s agreements with customers are stated at their outstanding balance, which balance includes
the fee charged for the term of the agreement. The Company holds and services these agreements until the balance has been paid.
Funds are provided our clients over a short term, ranging from three months to nine months. Based on the calculation for eligibility,
it is expected that each of the agreements will be fully paid within the term established. Our ecommerce financing services are
provided for a flat fee for the original term of the loan. The fee is amortized ratably over the term of the agreement. Payments
on the balance are processed concurrent with each payment the client receives from the sales platform they are using, such as Amazon
or Walmart. The client, as part of the agreement, authorizes us to draw payments from their account by ACH, which provides an efficient
and effective method. The payments collected are established as a percent of the funds received by the client, which percentage
rate is determined at the origination of the agreement. In cases where the client&rsquo;s sales are increasing the balance will
generally be fully retired prior to the original maturity date. In instances where sales decline, as we saw many do during the
early stages of the COVID pandemic, an unpaid balance remained at the maturity date of the agreement. The agreement allows an additional
fee to be charged on the account each month in which the balance remains unpaid. Should a client close the bank account to which
we have been permissioned to draw collections, they are asked to provide authority on their new account. Should a client refuse
to provide such access, a notice of default is sent and if no resolution is made during the cure period established, collection
efforts are initiated on the account. Such collection efforts include notifying the sales platform (Amazon or Walmart) that our
client is in default and requesting that the remaining amount due under the agreement be remitted to us from the reserves being
held. Where reserves are insufficient to pay the balance due the account is referred to an attorney to begin collection efforts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">CONCENTRATION AND CREDIT RISK: The Company
has a few major customers who represent a significant portion of revenue and accounts receivable. During the three months ended
March 31, 2022, two customers represented 85% of sales. Revenue related to these two customers is set forth in the table below.
Also, three customers represented 44% of accounts receivable. The Company has strong ongoing relationships with each of these customers
and does not believe this concentration poses a significant risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">Customer</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Sales</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Percent of Sales</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: justify">Customer 1</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">8,978,543</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">74.31</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Customer 2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,294,893</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.72</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Property and Equipment &ndash;</I></B>
Property and equipment are stated at cost. &nbsp;Additions and major improvements are capitalized while maintenance and repairs
are charged to operations. &nbsp;Upon trade-in, sale or retirement of property and equipment, the related cost and accumulated
depreciation are removed from the accounts and any gain or loss is recognized. Depreciation is computed using the straight-line
method and is recognized over the estimated useful lives of the property and equipment, which range from three to ten years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Valuation of Long-lived Assets</I></B>
&ndash; The carrying values of the Company&rsquo;s long-lived assets are reviewed for impairment annually and whenever events or
changes in circumstances indicate that they may not be recoverable. When projections indicate that the carrying value of the long-lived
asset is not recoverable, the carrying value is reduced by the estimated excess of the carrying value over the projected discounted
cash flows. Under similar analysis no impairment charge was taken during the three-month period ended March 31, 2022 and during
the year ended December 31, 2021. Impairment tests will be conducted on an annual basis and, should they indicate a carrying value
in excess of fair value, additional impairment charges may be required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Lease Obligations</I></B> &ndash;
<FONT STYLE="background-color: white">The Company, in accordance with ASC 842, accounts for leases as right-of-use (&ldquo;ROU&rdquo;)
assets and lease liabilities on the balance sheet. We estimate our incremental borrowing rate, which is defined as the interest
rate we would pay to borrow on a collateralized basis, considering such factors as length of lease term and the risks of the economic
environment in which the leased asset operates. The lease term used to calculate ROU assets and lease liabilities only includes
renewal and termination options that are deemed reasonably certain to be exercised.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Revenue Recognition &ndash; </I></B>The
Company has adopted and accounts for revenue under the guidance provided by ASC 606, <I>Revenue from Contracts with </I>Customers,
and all related amendments (&ldquo;new revenue standard&rdquo;). We have applied the new revenue standard to all contracts from
the date of initial application.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Transportation, Inc. recognizes
revenue at the time the signed delivery receipt is received, as they are obligated to provide no additional services subsequent
to the delivery and the collectability of the fee for service is reasonably assured.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Capital, Inc. recognizes revenue
ratably over the term of the agreement. Revenue on each agreement is the total due under the agreement less the funded amount.
In those instances where the clients&rsquo; obligations are not fully paid at the termination date of the agreement, additional
fees charged are calculated on the unpaid balance and recorded monthly. The accounts are charges rates of interest ranging from
30% to 50% per annum, depending on the creditworthiness of the client and the term of the agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below allocates revenue recorded
for the three-month periods ended March 31, 2022 and 2021:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">March 31, 2022</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">March 31, 2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Transportation</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Financing</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Transportation</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Financing</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Fees</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Fees</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Fees</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Fees</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 34%; text-align: justify">Domestic</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">12,082,377</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">151,347</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">12,233,724</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">4,451,434</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">137,647</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">4,589,081</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">International</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">12,082,377</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">151,347</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">12,233,724</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,451,434</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">137,647</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,589,081</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Basic and Diluted Loss Per Share
&ndash;</I></B> The computation of basic profit and loss per share of common stock is based on the weighted average number of shares
outstanding during the period. Diluted EPS is computed by dividing net earnings by the weighted-average number of common shares
and dilutive common stock equivalents during the period. Common stock equivalents are not used in calculating dilutive EPS when
their inclusion would be anti-dilutive. At March 31, 2022 and 2021, the Company had no common stock equivalents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Concentrations and Credit Risk -
</I></B>The Company has a few major customers who represent a significant portion of revenue, accounts receivable and notes receivable.
During the six-month period ended June 30, 2021, two customers represented 65% of sales and one customer represented 83% of accounts
receivable. The Company has a strong ongoing relationship with these customers with scheduled delivery extending through the year
and does not believe this concentration poses a significant risk, as their products are based entirely on the Company&rsquo;s technologies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Income Taxes - </I></B>The Company
accounts for income taxes in accordance with Statement of Financial Accounting Standards Board Accounting Codification (ASC) 740:
Income Taxes. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the differences
are expected to reverse. Deferred tax assets will be reflected on the balance sheet when it is determined that it is more likely
than not that the asset will be realized</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Recent Accounting Pronouncements</I></B>
&ndash; In December 2019, the Financial Standards Accounting Board (&ldquo;FASB&rdquo;) issued ASU 2019-12, &ldquo;Income Taxes
Topic 740-Simplifying the Accounting for Income Taxes&rdquo; which intended to simplify various aspects related to accounting for
income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing
guidance to improve consistent application of Topic 740. The effective date will be the first quarter of fiscal year 2021 and early
adoption is permitted. The Company adopted ASU 2019-12 effective January 1, 2021. The adoption of this standard had no impact on
our combined financial statements or disclosures.</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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June 2018, the FASB issued ASU No. 2018-07,
&ldquo;Compensation &mdash; Stock Compensation (Topic 718),&rdquo; (&ldquo;ASU 2018-07&rdquo;). ASU 2018-07 is intended to reduce
cost and complexity of financial reporting for non-employee share-based payments. Currently, the accounting requirements for non-employee
and employee share-based payments are significantly different. ASU 2018-07 expands the scope of Topic 718, which currently only
includes share-based payments to employees, to include share-based payments to non-employees for goods or services. Consequently,
the accounting for share-based payments to non-employees and employees will be substantially aligned. This ASU supersedes Subtopic
505-50, &ldquo;Equity &mdash; Equity-Based Payments to Nonemployees&rdquo;. The amendments to ASU 2018 - 07 are effective for fiscal
years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption
is permitted, but no earlier than a company&rsquo;s adoption date of ASU No. 2014-09, (Topic 606), &ldquo;Revenue from Contracts
with Customers&rdquo;. The Company adopted ASU 2018-07 effective January 1, 2020. The adoption of this standard had no impact on
our combined financial statements or disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June 2016, the FASB issued ASU 2016-13,
<I>&ldquo;Financial Instruments &ndash; Credit Losses&rdquo;</I>. The ASU sets forth a &ldquo;current expected credit loss&rdquo;
(&ldquo;CECL&rdquo;) model which requires the Company to measure all expected credit losses for financial instruments held at the
reporting date on historical experience, current conditions, and reasonable and supportable forecasts. This replaces the existing
incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies
to some off-balance sheet credit exposures. This ASU was effective for fiscal years beginning after December 15, 2019, including
interim periods within those fiscal years, with early adoption permitted. In November 2019, the FASB issued ASU 2019-10 which deferred
the effective date to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The
Company is currently evaluating the impact this guidance will have on its combined financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has reviewed all other recently
issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its consolidated results of operation,
financial position and cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant
effect on its current or future earnings or operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE 2 &ndash; LEASES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have an operating lease for our office.
We used the lease termination date of July 31, 2022 for our calculation.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 following was included in our combined
balance sheet as of March 31, 2022 and December 31, 2021:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">Lease</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">March 31,<BR> 2022</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">December 31,<BR> 2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">Assets</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: justify; padding-bottom: 2.5pt">ROU &ndash; operating lease asset</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">14,207</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">24,110</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Operating lease liabilities &ndash; current portion</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">15,269</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">26,261</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We recognize lease expense on a straight-line
basis over the term of the lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center">For the three months <BR> ended March 31,</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center">For the three months <BR> ended March 31,</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><U>Lease Cost</U></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2022</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: left; padding-bottom: 2.5pt">Rent expense</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">14,074</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">10,384</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our building lease does not specify an
implicit rate of interest. Therefore, we estimate our incremental borrowing rate, which is defined as the interest rate we would
pay to borrow on a collateralized basis, considering such factors as length of lease term and the risks of the economic environment
in which the leased asset operates. As of March 31, 2022, the following disclosures for remaining lease term and incremental borrowing
rates were applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">Supplemental Disclosures</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 87%">Weighted average remaining lease term</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center">0.33 years</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Weighted average discount rate</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">5.00%</TD></TR>
</TABLE>

<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>NOTE 3 &ndash; CAPITAL STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Preferred Stock &ndash; There are 20,000,000
shares of preferred stock with a par value of $0.001 per share authorized. At March 31, 2022 and December 31, 2021, there were
no shares of preferred stock issued or outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Common Stock &ndash; There are 180,000,000
shares of common stock with a par value of $0.001 per share authorized. At March 31, 2022 and December 31, 2021, there were 30,000,000
and 30,000,000 shares of common stock issued and outstanding, respectively. The Company issued no shares of restricted common stock
during the three months ended March 31, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOTE 4 &ndash; PROPERTY AND EQUIPMENT</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">Property and equipment and related accumulated
depreciation consisted of the following at March 31, 2022, and December 31, 2021:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">March 31, 2022</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: left">Computer and office equipment</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 10pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,114</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">9,114</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Software</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">167,156</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">138,957</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Refrigerated trailers</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">466,635</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">466,635</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Accumulated depreciation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(126,452</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(83,536</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt">Total Property and Equipment</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">516,454</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">527,401</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation expense for the three months
ended March 31, 2022 and 2021 was $35,667 and $8,664, respectively</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE 5 &ndash; COST OF GOODS SOLD</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">LeeWay Global Logistics, Inc &ndash; Cost
of goods related to transportation income are the fees paid to motor carrier lines and independent owner/operators for the delivery
of freight contracted. The recording of the expenses is made concurrent with the revenue recognition for each load after a delivery
receipt is received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Capital, Inc. &ndash; Cost of goods
related to the financing service income is the cost of capital obtained to fund the agreements entered into with clients. Funding
is provided under a subordinated promissory note. The note provides for an interest rate of 12% per annum and has a maturity date
of November 1, 2022. (See Note 7 &ndash; Notes Payable).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></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: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOTE 6 &ndash; SEGMENT REPORTING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We report segment information consistent
with our two major operations: transportation and financing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Transportation</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Transportation, Inc., the transportation
segment includes revenues and costs related to our transportation brokerage operation. All business activity is confined to the
continental United States, and as such there is no breakout between domestic and international revenues and expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Financial Services</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Capital, Inc., the financial services
segment, includes revenues and costs related to the providing of financing to individuals and entities that sell products on various
sales platforms, such as Amazon, Walmart and Shopify. As one of the requirements is that the individual and/or entity be domiciled
in the United States, there is no breakout between domestic and international revenues and expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Corporate</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Services, Inc., which was incorporated in October 2021,
had minimal activity in the year ended December 31, 2021 and no activity during the year ended December 31, 2020. 2022 business
expenses relate to personnel costs and office expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Key information, broken out by business segment on the income
statements for the three months ended March 31, 2022 is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">For the Quarter Ended March 31, 2022</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Transportation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Financing</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Corporate</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Total</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; text-align: justify">Net sales</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">12,082,377</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">151,347</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">12,233,724</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Cost of sales</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,633,516</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">71,961</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,705,477</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Gross profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">2,448,861</P></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">79,386</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,528,247</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Operating expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">1,180,217</P></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">291,944</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">155,701</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,627,862</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Operating profit</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">1,268,644</P></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(212,558</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(155,701</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">900,385</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE 7 &ndash; NOTES PAYABLE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">On November 1, 2018, eCommerce Funding entered into a note payable
in the amount of $500,000 with SWL Investments, an Oklahoma limited partnership, to provide operating funds to LeeWay Capital.
On April 1, 2019, the note was amended to provide up to a total of $1,500,000 in funding under the note. The note bears interest
at the rate of 12% per annum and has a maturity date of November 1, 2022. Under the terms of the note the interest is to be accrued
and is due and payable with the principal on the maturity date. Funds are drawn against this note as required to fund the operations
and business activities of the Company. At March 31, 2022 and December 31, 2021 the funds drawn against this note were $1,516,895
and $1,723,206 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE 8 &ndash; COMMITMENTS AND CONTINGENCIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company currently occupies approximately
3,492 square feet of office space under a sublease from Uinta Advisors, LLC. The sublease was entered into effective November 1,
2018 and has a termination date of July 31, 2022. The sublease provides a monthly lease of $6,984 per month with 3% increases become
effective on August 1 for each year of the sublease. The Company has accounted for the lease using the guidance from ASC 842, recording
an operating right-of use-asset and an operating lease liability. (See Note 2 - Leases)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2019, a novel strain of coronavirus
was reported to have surfaced in Wuhan, China, which has and is continuing to spread throughout China and other parts of the world,
including the United States. On January 30, 2020, the World Health Organization declared the outbreak of the coronavirus disease
(COVID-19) a &ldquo;Public Health Emergency of International Concern.&rdquo; On January 31, 2020, U.S. Health and Human Services
Secretary Alex M. Azar II declared a public health emergency for the United States to aid the U.S. healthcare community in responding
to COVID-19, and on March 11, 2020 the World Health Organization characterized the outbreak as a &ldquo;pandemic&rdquo;. The significant
outbreak of COVID-19 has resulted in a widespread health crisis that could adversely affect the economies and financial markets
worldwide, and&nbsp;could adversely affect our business, results of operations and financial condition.&nbsp;&nbsp;The ultimate
extent of the impact of any epidemic, pandemic or other health crisis on our business, financial condition and results of operations
will depend on future developments, which are highly uncertain and cannot be predicted, including new information that may emerge
concerning the severity of such epidemic, pandemic or other health crisis and actions taken to contain or prevent their&nbsp;further
spread, among others.&nbsp;These and other potential impacts of an epidemic, pandemic or other health crisis, such as COVID-19,
could therefore materially and adversely affect our business, financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE 9 &ndash; RELATED PARTY TRANSACTIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company entered into a note payable
with SWL Investments (See Note 7 &ndash; Notes Payable). SWL Investments is an Oklahoma limited partnership owned and operated
by S. Whitfield Lee, who is an affiliate, officer and director of both LeeWay Capital, Inc. and LeeWay Services, Inc., the parent
company of LeeWay Capital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 office space leased by the Company
is shared with W.L.P. Corporation (&ldquo;WLP&rdquo;), a related party. Under the shared space agreement WLP pays one-half of the
monthly lease fee and related expenses. The lease expense recorded in these financial statements only records as expenses the portion
of the lease expenses which are the responsibility and were paid by LeeWay Services, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTE 10 &ndash; SUBSEQUENT EVENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has evaluated subsequent events
pursuant to ASC Topic 855 and has determined that there are no events that require disclosure as of the date of issuance.</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"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_023"></A>LeeWay Services, Inc.</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>Combined Financial Statements (Audited)</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>At December 31, 2021 and 2020</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>and for the Years Then Ended</B></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: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="fin_001"></A>REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">To the Board of Directors and Shareholders of
LeeWay Services, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Opinion on the Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have audited the accompanying combined balance
sheets of LeeWay Services, Inc. and Subsidiaries (&ldquo;the Company&rdquo;) as of December 31, 2021 and 2020, and the related
combined statements of operations, changes in stockholders&rsquo; deficit, and cash flows for each of the years in the two-year
period ended December 31, 2021, and the related notes (collectively referred to as the financial statements). In our opinion, the
financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2021 and
2020 and the results of its operations and its cash flows for each of the years in the two-year period ended December 31, 2021,
in conformity with accounting principles generally accepted in the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Basis for Opinion</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These financial statements are the responsibility
of the Company&rsquo;s management. Our responsibility is to express an opinion on the Company&rsquo;s financial statements based
on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB)
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We conducted our audits in accordance with
the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether
the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have,
nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required
to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the
effectiveness of the Company&rsquo;s internal control over financial reporting. Accordingly, we express no such opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our audits included performing procedures to
assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made
by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a
reasonable basis for our opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Critical Audit Matters</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The critical audit matters communicated below
are matters arising from the current period audit of the financial statements that were communicated or required to be communicated
to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved
our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any
way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matters below,
providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Valuation for Accounts Receivable &mdash;
Refer to Note 2 to the financial statements</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Critical Audit Matter Description</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has recognized an allowance on
trade accounts receivable and financing receivables. The Company recognizes a valuation allowance based on historical collection
experience and specific account analysis for its receivables. Significant judgment is needed in determining the appropriate allowance
against receivables.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Auditing management&rsquo;s valuation for allowance
was highly judgmental due to estimation required to determine likely future collections on accounts and financing receivables.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>How the Critical Audit Matter Was Addressed
in the Audit</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our principal audit procedures to evaluate
management&rsquo;s valuation of allowance on receivables consisted of the following, among others:&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 38.25pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 20.25pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We evaluated management&rsquo;s policies
for reviewing and assessing allowances.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 20.25pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We selected a sample of significant outstanding
balances for confirmation and further testing of collectability.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 20.25pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We evaluated management&rsquo;s accounting
estimates related to its financing receivables and tested those estimates.</FONT></TD></TR></TABLE>



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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"><IMG SRC="cm102_img01.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have served as the Company&rsquo;s auditor since 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Spokane, Washington</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">May 4, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="fin_002"></A>LeeWay Services, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Combined Balance Sheets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center">December 31,</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">ASSETS</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">CURRENT ASSETS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; padding-left: 0.25in">Cash</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">337,938</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">293,078</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accounts receivable, trade, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,848,326</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,565,714</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accounts receivable, financing, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,750,136</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,367,423</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Other current assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">59,838</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">39,543</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.5in">Total current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,996,238</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,265,758</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Property and equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">527,401</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">61,289</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Operating lease right-of-use asset</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,110</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">63,722</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Deferred income tax asset</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">57,674</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">153,275</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in">Total Assets</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,605,423</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,544,044</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">LIABILITIES AND STOCKHOLDERS&rsquo; EQUITY</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">CURRENT LIABILITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,601,419</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,784,134</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accrued liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">315,901</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">146,956</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Short-term debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">685,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">685,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Operating lease liability &ndash; current portion</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,261</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45,006</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Notes payable &ndash; related party</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,723,555</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,988,786</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.5in">Total current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,754,105</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,754,105</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Notes payable &ndash; PPP loan &ndash; long term</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">208,446</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Subordinated debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,723,206</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,089,272</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Operating lease liability</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">23,783</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.5in">Total liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,075,342</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,971,383</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">STOCKHOLDERS&rsquo; EQUITY</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 27pt">Preferred stock, $0.001 par value, 20,000,000 shares authorized; 2,000 shares issued and outstanding</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 27pt">Common stock, $0.001 par value, 180,000,000 shares authorized; 30,000,000 shares issued and outstanding</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Retained earnings deficit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(499,921</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,457,341</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.5in">Total stockholders&rsquo; deficit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(469,919</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,427,339</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in">Total liabilities and stockholders&rsquo; equity</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,605,423</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,544,044</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>The accompanying notes are an integral
part of these condensed financial statements.</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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="fin_003"></A>LeeWay Services, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Combined Statements of Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the Years Ended</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>December 31,</B></P></TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Revenues</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; text-align: left; padding-left: 0.25in">Transportation income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">27,316,857</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">13,471,155</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Financing service income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">580,647</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">440,385</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.5in">Total revenue</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,897,504</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,911,540</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Cost of goods sold</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Transportation costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,377,335</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,773,778</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Financing costs</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">147,934</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">105,171</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.5in">Total cost of goods sold</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">23,525,269</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11,878,949</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Gross profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,372,235</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,032,591</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Operating expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Payroll and consultants</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,166,425</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,276,964</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Sales and marketing</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">474,084</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">265,321</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">General and administrative</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">541,684</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">323,840</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.25in">Depreciation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">48,610</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">26,662</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.5in">Total operating expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,230,803</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,892,787</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Income (loss) from operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,141,432</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">139,804</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Gain on PPP loan forgiveness</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">208,446</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Interest expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(39,639</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3,851</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Income (loss) before income tax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,310,239</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">135,953</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Income tax benefit (expense)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(352,818</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(77,375</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net income (loss)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">957,421</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">58,578</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Basic and diluted earnings (loss) per share</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.03</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.00</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: -9pt; padding-left: 9pt">Weighted average common shares outstanding &ndash; <BR> basic and diluted</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,000,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,000,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>The accompanying notes are an integral
part of these condensed financial statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="fin_004"></A>LeeWay Services, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Combined Statements of Stockholders&rsquo;
Deficit</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></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center">Preferred Stock</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center">Common Stock</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Additional <BR> Paid-in</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Shares</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Shares</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Capital</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Deficit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 37%">Balance &ndash; December 31, 2019</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">2,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">2</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">30,000,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">30,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">(1,515,919</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">(254,537</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">Net income &ndash; Year ended December 31, 2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">58,578</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">58,578</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Balance &ndash; December 31, 2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,457,341</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,427,339</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">Net income &ndash; Year ended December 31, 2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">957,421</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">957,421</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">Balance &ndash; December 31, 2021</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,000,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(499,921</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(469,919</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>The accompanying notes are an integral
part of these condensed financial statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>


<!-- Field: Page; Sequence: 106; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="fin_005"></A>LeeWay Services, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Combined Statements of Cash Flows</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center">For the Years Ended</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center">December 31,</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: left">Net income (loss)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">957,421</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">58,578</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Adjustments to reconcile net income to net cash provided by (used in) operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.25in">Depreciation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48,610</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,662</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Gain on forgiveness of debt &ndash; PPP loan</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(208,446</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Changes in operating assets and liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accounts receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,665,325</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,511,284</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(20,295</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">961</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Deferred tax asset</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">95,601</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(128,890</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Operating lease &ndash; Right-of-use asset</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">39,612</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,573</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,817,285</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">597,148</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Accrued liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">168,945</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,592</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Lease liabilities &ndash; long-term</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(42,528</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(39,184</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net cash provided by (used in) operating activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">190,880</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(907,844</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Investing activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Property and equipment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(514,723</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(40,114</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net cash used in investing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(514,723</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(40,114</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Financing activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Short-term debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Note payable &ndash; related party</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(265,231</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">461,327</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Note payable &ndash; PPP loan</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">208,446</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Subordinated debt</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">633,934</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">315,171</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net cash provided by financing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">368,703</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,084,944</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net change in cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,860</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">136,986</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Cash at beginning of period</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">293,078</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">156,092</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">Cash at end of period</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">337,938</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">293,078</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Supplemental cash information:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Cash paid for:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.5in">Interest</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.5in">Taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>The accompanying notes are an integral
part of these condensed financial statements.</I></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: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="fin_006"></A>LEEWAY SERVICES, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Notes to the Combined Financial Statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 1 <B>- </B>BASIS OF FINANCIAL STATEMENT
PRESENTATION</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 accompanying combined financial statements
have been prepared by the Company pursuant to accounting principles generally accepted in the United States of America. The information
furnished in the combined financial statements includes normal recurring adjustments and reflects all adjustments, which, in the
opinion of management, are necessary for a fair presentation of such financial statements. Management believes the disclosures
and information presented are adequate to make the information not misleading&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 2 - ORGANIZATION AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES</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">ORGANIZATION AND LINE OF BUSINESS:</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">LeeWay Services, Inc. (the Company) was
incorporated under the laws of the State of Nevada on October 12, 2021. The Company was organized to engage in any lawful activity
for which corporations may be organized under Nevada statute.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Services, Inc. has two wholly owned
subsidiaries: LeeWay Transportation, Inc., a corporation incorporated under the laws of the State of Nevada on July 1, 2015, as
LeeWay Global Logistics, Inc. and LeeWay Capital, Inc., a corporation incorporated under the laws of the State of Utah on September
25, 2014, as Bridge Capital Lenders, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 principal business of LeeWay Transportation,
Inc. is to provide technology-based third-party logistics (3PL) and comprehensive management solutions for shippers, brokers and
carriers in the transportation industry. LeeWay Transportation, Inc. has two wholly owned subsidiaries: LeeWay Global Logistics
LLC, a limited liability company organized under the laws of the State of Nevada on September 6, 2007, and LeeWay Freight Lines,
a corporation incorporated under the laws of the State of California on September 19, 1957, as Evans Talk Line, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 principal business of LeeWay Capital,
Inc. is to provide financial services for a broad range of clients. LeeWay Capital has two wholly owned subsidiaries: eCommerce
Financing, a limited liability company organized under the laws of the State of Utah on June 13, 2018, and eCommerce Funding, a
limited liability company organized under the laws of the State of Utah on November 2, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.75in">SIGNIFICANT ACCOUNTING POLICIES:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">PRINCIPLES OF CONSOLIDATION: In accordance
with ASC 805-50-45-5, for transactions between entities under common control, financial statements and financial information presented
for prior periods should be retroactively adjusted to furnish comparative information. The wholly owned subsidiaries combined in
this financial presentation were not acquired until December 31, 2021, but as they were under common control, the acquisition and
merger is recognized retroactively in these financial statements as if it had occurred on January 1, 2020</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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">USE OF ESTIMATES: The preparation of financial
statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities at the date of the combined financial statements and the reported amounts
of revenue and expenses during the reporting periods. &nbsp;Actual results could differ from those estimates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">CASH AND CASH EQUIVALENTS: Cash and cash
equivalents are considered to be cash, as are highly liquid securities with original maturities of three months or less. While
the total cash on hand at December 31, 2021, of $337,938 exceeds the FDIC insurance limit of $250,000, the total cash balance is
comprised of accounts at several banks. The total cash in all accounts at any one financial institution at December 31, 2021, does
not exceed the $250,000 FDIC insurance limit and are therefore not at risk.</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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FAIR VALUE MEASUREMENTS: The fair value
of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an
orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial
liabilities ae marked to offer prices. The fair value should be calculated based on assumptions that market participants would
use in pricing the asset or liability, not on assumptions specific to the entity. In addition, the fair value of liabilities should
include consideration of non-performance risk, including the party&rsquo;s own credit risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair value measurements do not include
transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine
fair values. Categorization within the fair value hierarch is based on the lowest level of input that is significant to the fair
value measurement. The fair value hierarchy is defined into the following three categories:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Level 1: Quoted market prices
in active markets for identical assets or liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Level 2: Observable inputs other
than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume
or infrequent transactions (less active markets); pr mode-driven valuations in which all significant inputs are observable or can
be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Level 3: Unobservable inputs
to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the extent that valuation is based on
models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment.
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy within which
the fair value measurement is disclosed and is determined based on the lowest level input that is significant to the fair value
measurement.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 carrying value of the Company&rsquo;s
cash, accounts payable and other current assets and liabilities approximate fair value because of their short-term maturity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ACCOUNTS RECEIVABLE: Accounts receivables
are presented net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for estimated losses.
The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as
to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers
a number of factors, including the age of the balance, a customer&rsquo;s historical payment history, its current creditworthiness
and current economic trends. Accounts are written off only after exhaustive efforts at collection. At December 31, 2021 and 2020,
the Company had trade accounts receivable, net of the allowance, of $4,848,566 and $2,565,714, respectively, and financing accounts
receivable, net of the allowance, of $1,750,136 and $1,367,423, respectively. At December 31, 2021 and 2020, the allowance for
doubtful accounts was $379,694 and $188,196, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts Receivable &ndash; Trade: Invoice
terms for our freight brokerage business are generally net 30. However, to capture the business of our largest account, we were
required to extend terms of net 60, as that is the term they currently received. Our accounts are monitored and, 7-10 days before
the due date, the client is contacted to insure they have all documents required in order for them to make payment. Any missing
documents are immediately provided to ensure that payment will be made timely.</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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts Receivable &ndash; Financing:
Amounts due under the Company&rsquo;s agreements with customers are stated at their outstanding balance, which balance includes
the fee charged for the term of the agreement. The Company holds and services these agreements until the balance has been paid.
Funds are provided our customers over a short term, ranging from three months to nine months. Based on the calculation for eligibility,
it is expected that each of the agreements will be fully paid within the term established. Our ecommerce financing services are
provided for a flat fee for the original term of the loan. The fee is amortized ratably over the term of the agreement. Payments
on the balance are processed concurrent with each payment the customer receives from the sales platform they are using, such as
Amazon, or Walmart. The customer, as part of the agreement, authorizes us to draw payments from their account by ACH, which provides
an efficient and effective method. The payments collected are established as a percent of the funds received by the customer, which
percentage rate is determined at the origination of the agreement. In cases where the customer&rsquo;s sales are increasing the
balance will generally be fully retired prior to the original maturity date. In instances where sales decline, as we saw many do
during the early stages of the COVID pandemic, an unpaid balance remained at the maturity date of the agreement. The agreement
allows an additional fee to be charged on the account each month in which the balance remains unpaid. Should a customer close the
bank account to which we have been permissioned to draw collections, they are asked to provide authority on their new account.
Should a customer refuse to provide such access, a notice of default is sent and if no resolution is made during the cure period
established, collection efforts are initiated on the account. Such collection efforts include notifying the sales platform (Amazon
or Walmart) that our customer is in default and requesting that the remaining amount due under the agreement be remitted to us
from the reserves being held. Where reserves are insufficient to pay the balance due the account is referred to an attorney to
begin collection efforts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">CONCENTRATION AND CREDIT RISK: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has two customers which represent
a significant portion of revenue and three customers which represent a significant portion of their accounts receivable. During
the year ended December 31, 2021, McCain Foods USA, Inc. (&ldquo;Customer 1&rdquo;) and Ruan Transport Corporation (&ldquo;Customer
2&rdquo;) represented in an aggregate approximately 74% of revenue. During the year ending December 31, 2020 Customer 1 and Customer
2 represented approximately 56% of the Company&rsquo;s revenue. Revenue related to these two customers is set forth in the table
below. Also, Customer 1, Customer 2 and Warren Distributors (&ldquo;Customer 3&rdquo;) in an aggregate represented approximately
44% of the Company&rsquo;s accounts receivable as of the year ended December 31, 2021 and Customer 1, Customer 2, Customer 3 in
an aggregate represented approximately 85% of the Company&rsquo;s accounts receivable as of December 31, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">Customer</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Revenue</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of Revenue</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Revenue</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of Revenue</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-align: justify; padding-bottom: 1pt">Customer 1</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">16,358,527</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">58.64</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">5,164,104</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">37.03</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Customer 2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,416,242</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.83</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,647,296</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19.03</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">Customer</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Accounts<BR> Receivable</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of Accounts<BR> Receivable</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Accounts <BR> Receivable</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of Accounts<BR> Receivable</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-align: justify">Customer 1</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">3,089,093</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">35.73</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">1,055,937</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">52.07</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Customer 2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">315,891</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.79</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">445,918</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21.99</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Customer 3</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">221,693</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.31</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">218,622</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.78</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">PROPERTY AND EQUIPMENT: Property and equipment
are stated at cost. Additions and major improvements are capitalized while maintenance and repairs are charged to operations. Upon
trade-in, sale or retirement of property and equipment, the related cost and accumulated depreciation are removed from the accounts
and any gain or loss is recognized. Depreciation is computed using the straight-line method and is recognized over the estimated
useful lives of the property and equipment, which range from one to seven years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">VALUATION OF LONG-LIVED ASSETS: The carrying
values of the Company&rsquo;s long-lived assets are reviewed for impairment annually and whenever events or changes in circumstances
indicate that they may not be recoverable. When projections indicate that the carrying value of the long-lived asset is not recoverable,
the carrying value is reduced by the estimated excess of the carrying value over the projected discounted cash flows. Under similar
analysis no impairment charge was taken during the years ended December 31, 2021 and 2020. Impairment tests will be conducted on
an annual basis and, should they indicate a carrying value in excess of fair value, impairment charges may be required to be recognized
and recorded.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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">LEASES:
The Company, in accordance with ASC 842, accounts for leases as right-of-use (&ldquo;ROU&rdquo;) assets and lease liabilities on
the balance sheet. We estimate our incremental borrowing rate, which is defined as the interest rate we would pay to borrow on
a collateralized basis, considering such factors as length of lease term and the risks of the economic environment in which the
leased asset operates. The lease term used to calculate ROU assets and lease liabilities only includes renewal and termination
options that are deemed reasonably certain to be exercised.</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">REVENUE RECOGNITION: &nbsp;The Company
has adopted and accounts for revenue under the guidance provided by ASC 606, <I>Revenue from Contracts with </I>Customers, and
all related amendments (&ldquo;new revenue standard&rdquo;). We have applied the new revenue standard to all contracts from the
date of initial application.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Transportation, Inc. recognizes
revenue at the time the signed proof of delivery receipt (&ldquo;POD&rdquo;) is received, at which time control of the goods transported
is transferred to the customer. ASC 606-10-25-27 requires that revenue be recognized over time if any one of the three criteria
listed is met. Our service does not meet any of the listed criteria. ASC 606-10-55-6 states that revenue is to be recognized over
time if only a portion of the company&rsquo;s obligations are performed and the remaining obligations could be completed by another
entity. However, in such instance, revenue could not be recognized over the term, as all obligations have not been fulfilled and
control had not yet been transferred to the customer. In addition, where the goods have not been delivered the collectability of
the fees would not be reasonably assured, nor would there be basis to force payment, as the service had not been completed. Therefore,
revenue is recognized at a point in time, that measurement being when the carrier has delivered the freight to the designated destination
and a POD has been signed. There being no other performance obligations the revenue is recognized at that point.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with ASC 606-10-55-36 through
40, revenue is recorded at the gross amount of the contract because it bears the risks and benefits associated with revenue-generated
activities by, among other things: (1) acting as a principal in the transaction; (2) establishing prices; (3) managing all aspects
of the shipping process; and (4) taking the risk of loss for collection, delivery and returns. The gross amount represents the
amount for which the Company will receive payment from the customer. The sales process begins with a price quotation to the customer
and the Company then identifies a carrier to make the delivery. The cost which the Company incurs with the carrier identified and
contracted to deliver the freight is recorded as cost of sales, with the difference between the price agreed upon with the customers
and the cost of delivery representing the gross profit on that individual transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s payment terms are net
30 with the exception of its largest customer, for which payment terms are net 60. Our competitors provide services to our largest
customer with terms of net 60. The Company is required to offer the same payment terms as its competitors in order to secure the
customer&rsquo;s business.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s customer contract sets
forth its performance obligations under those contracts. The Company&rsquo;s obligation is to transport the contracted goods to
the delivery point, as directed by our customer. The arrival of the contracted goods at the destination and the receipt by the
Company of a signed POD completes its obligations and it can then record as revenue the price agreed upon for the services provided.
Revenue is only recognized by the Company after its receipt of the signed POD. Were a shipment to be in transit at month-end there
is no revenue recognized, as the Company has not yet completed its contractual obligations.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Capital, Inc. recognizes revenue
ratably over the term of the agreement. Revenue on each agreement is the total due under the agreement less the funded amount.
In those instances where the customers&rsquo; obligations are not fully paid at the termination date of the agreement, additional
fees charged are calculated on the unpaid balance and recorded monthly. The accounts are charges rates of interest ranging from
30% to 50% per annum, depending on the creditworthiness of the customer and the term of the agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below allocates revenue recorded
for the years ended December 31, 2021 and 2020:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">For the years ended:</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Transportation</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Financing</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Transportation</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Financing</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Fees</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Fees</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Fees</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Fees</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 28%; text-align: justify">Domestic</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">27,316,857</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">580,647</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">27,897,504</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">13,471,155</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">440,385</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">13,911,540</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">International</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">27,316,857</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">580,647</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">27,897,504</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">13,471,155</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">440,385</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">13,911,540</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">INCOME TAXES:<B><I>&nbsp; </I></B>The Company
accounts for income taxes in accordance with Statement of Financial Accounting Standards Board Accounting Codification (ASC) 740:
Income Taxes. &nbsp;Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the
differences are expected to reverse. &nbsp;Deferred tax assets will be reflected on the balance sheet when it is determined that
it is more likely than not that the asset will be realized</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NET INCOME (LOSS) PER SHARE: The computation
of basic profit and loss per share of common stock is based on the weighted average number of shares outstanding during the period.
Diluted EPS is computed by dividing net earnings by the weighted-average number of common shares and dilutive common stock equivalents
during the period. Common stock equivalents are not used in calculating dilutive EPS when their inclusion would be anti-dilutive.
At December 31, 2021 and 2020, the Company had no common stock equivalents.</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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">RECENT ACCOUNTING PRONOUNCEMENTS: In December
2019, the Financial Standards Accounting Board (&ldquo;FASB&rdquo;) issued ASU 2019-12, &ldquo;Income Taxes Topic 740-Simplifying
the Accounting for Income Taxes&rdquo; which intended to simplify various aspects related to accounting for income taxes. ASU 2019-12
removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent
application of Topic 740. The effective date will be the first quarter of fiscal year 2021 and early adoption is permitted. The
Company adopted ASU 2019-12 effective January 1, 2021. The adoption of this standard had no impact on our combined financial statements
or disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June 2018, the FASB issued ASU No. 2018-07,
&ldquo;Compensation &mdash; Stock Compensation (Topic 718),&rdquo; (&ldquo;ASU 2018-07&rdquo;). ASU 2018-07 is intended to reduce
cost and complexity of financial reporting for non-employee share-based payments. Currently, the accounting requirements for non-employee
and employee share-based payments are significantly different. ASU 2018-07 expands the scope of Topic 718, which currently only
includes share-based payments to employees, to include share-based payments to non-employees for goods or services. Consequently,
the accounting for share-based payments to non-employees and employees will be substantially aligned. This ASU supersedes Subtopic
505-50, &ldquo;Equity &mdash; Equity-Based Payments to Nonemployees&rdquo;. The amendments to ASU 2018 - 07 are effective for fiscal
years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption
is permitted, but no earlier than a company&rsquo;s adoption date of ASU No. 2014-09, (Topic 606), &ldquo;Revenue from Contracts
with Customers&rdquo;. The Company adopted ASU 2018-07 effective January 1, 2020. The adoption of this standard had no impact on
our combined financial statements or disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June 2016, the FASB issued ASU 2016-13,
<I>&ldquo;Financial Instruments &ndash; Credit Losses&rdquo;</I>. The ASU sets forth a &ldquo;current expected credit loss&rdquo;
(&ldquo;CECL&rdquo;) model which requires the Company to measure all expected credit losses for financial instruments held at the
reporting date on historical experience, current conditions, and reasonable and supportable forecasts. This replaces the existing
incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies
to some off-balance sheet credit exposures. This ASU was effective for fiscal years beginning after December 15, 2019, including
interim periods within those fiscal years, with early adoption permitted. In November 2019, the FASB issued ASU 2019-10 which deferred
the effective date to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The
Company is currently evaluating the impact this guidance will have on its combined financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has reviewed all other FASB-issued
ASU accounting pronouncements and interpretations thereof that have effective dates during the period reported and in future periods.
The Company has carefully considered the new pronouncements that alter previous GAAP and does not believe that any new or modified
principles will have a material impact on the Company&rsquo;s reported financial position or operations in the near term. The applicability
of any standard is subject to the formal review of the Company&rsquo;s financial management and certain standards are under consideration.</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">NOTE 3 &ndash; LEASES</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">We have an operating lease for our office. We used the lease
termination date of July 31, 2022 for our calculation.</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 following was included in our combined balance sheet as
of December 31, 2021 and 2020:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center">As of December 31,</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">Lease</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; text-align: left">ROU &ndash; operating lease asset</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">24,110</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">63,722</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Operating lease liabilities &ndash; current portion</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">26,261</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">45,006</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Operating lease liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">23,783</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in">Total operating lease liabilities</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">26,261</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">68,789</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We recognize lease expense on a straight-line basis over the
term of the lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; text-align: center">For the Year Ended December 31,</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">Lease Cost</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; width: 74%">Rent expense</TD><TD STYLE="padding-bottom: 2.5pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 10%">42,090</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; width: 1%">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; width: 10%">42,090</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; width: 1%">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our building lease does not specify an
implicit rate of interest. Therefore, we estimate our incremental borrowing rate, which is defined as the interest rate we would
pay to borrow on a collateralized basis, considering such factors as length of lease term and the risks of the economic environment
in which the leased asset operates. As of December 31, 2021, the following disclosures for remaining lease term and incremental
borrowing rates were applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; text-align: center">For the Years Ended December 31,</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">Supplemental Disclosures</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%">Weighted average remaining lease term</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 10pt">0.58 years</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 10pt">1.58 years</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Weighted average discount rate</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.00</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.00</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 4 - &nbsp;&nbsp;PROPERTY AND EQUIPMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment and related accumulated
depreciation consisted of the following at December 31, 2021, and December 31, 2020:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 84%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">December 31, 2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">December 31, 2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: left">Computer and office equipment</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">9,114</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">9,114</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Software</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">138,957</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">94,351</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Refrigerated trailers</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">466,635</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Accumulated depreciation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(83,536</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(42,176</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in">Total Property and Equipment</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">527,401</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">61,289</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation expense for the years ended
December 31, 2021 and 2020 was $48,610 and $26,662, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 5 &ndash; COST OF GOODS SOLD</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of goods sold is comprised of costs
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Global Logistics, Inc &ndash; Cost
of goods related to transportation income are the fees paid to motor carrier lines and independent owner/operators for the delivery
of freight contracted. The recording of the expenses is made concurrent with the revenue recognition for each load after a delivery
receipt is received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Capital, Inc. &ndash; Cost of goods
related to the financing service income is the cost of capital obtained to fund the agreements entered into with customers. Funding
is provided under a subordinated promissory note. The note provides for an interest rate of 12% per annum and has a maturity date
of November 1, 2022. (See Note 6 &ndash; Notes Payable)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 6 &ndash; SEGMENT INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We report segment information consistent
with our two major operations: transportation and financing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Transportation</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Transportation, Inc., the transportation
segment includes revenues and costs related to our transportation brokerage operation. All business activity is confined to the
continental United States, and as such there is no breakout between domestic and international revenues and expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Financial Services</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Capital, Inc., the financial services
segment, includes revenues and costs related to the providing of financing to individuals and entities that sell products on various
sales platforms, such as Amazon, Walmart and Shopify. As one of the requirements is that the individual and/or entity be domiciled
in the United States, there is no breakout between domestic and international revenues and expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Corporate</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LeeWay Services, Inc., which was incorporated
in October 2021, had minimal activity in the year ended December 31, 2021 and no activity during the year ended December 31, 2020.
Therefore, no corporate balances are reflected in the presentations for 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Key information, broken out by business
segment on the balance sheets at December 31, 2021 and 2020 and on the income statements for the years ended December 31, 2021
and 2020, is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Balance Sheets:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="14" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">At December 31, 2021</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Transportation</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Financing</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Corporate</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Total</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 44%"><FONT STYLE="font-size: 10pt">Cash</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 11%; text-align: right"><FONT STYLE="font-size: 10pt">262,392</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 11%; text-align: right"><FONT STYLE="font-size: 10pt">75,546</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 11%; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 11%; text-align: right"><FONT STYLE="font-size: 10pt">337,938</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">Receivables, net</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">4,848,326</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,750,136</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">6,598,462</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Other current assets</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">59,838</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">59,838</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">Total current assets</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5,170,556</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,825,682</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">6,996,238</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">Property and equipment, net</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">458,806</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">68,595</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">527,401</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Other assets</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">60,460</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">21,324</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">81,784</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">Total assets</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">5,689,822</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">1,915,601</P></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">7,605,423</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">Accounts payable</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3,554,062</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">47,357</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3,601,419</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Other liabilities</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">1,879,607</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">2,515,654</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">78,662</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">4,473,923</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">Total liabilities</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5,433,669</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2,563,011</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">78,662</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8,075,342</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Stockholders&rsquo; equity (deficit)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">256,153</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">(647,410</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">(78,662</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">(469,919</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">Total liabilities and stockholders&rsquo; equity</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">5,689,822</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">1, 915,601</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">7,605,423</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">At December 31, 2020</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Transportation</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Financing</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Total</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 58%"><FONT STYLE="font-size: 10pt">Cash</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 11%; text-align: right"><FONT STYLE="font-size: 10pt">136,917</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 11%; text-align: right"><FONT STYLE="font-size: 10pt">156,161</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 11%; text-align: right"><FONT STYLE="font-size: 10pt">293,078</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">Receivables, net</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2,565,714</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,367,423</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3,933,137</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Other current assets</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">39,543</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">39,543</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">Total current assets</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2,742,174</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,523,584</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">4,265,758</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">Property and equipment, net</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3,056</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">58,233</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">61,289</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Other assets</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">192,070</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">24,927</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">216,997</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">Total assets</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">2,937,300</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">1,606,744</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">4,544,044</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">Accounts payable</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,782,766</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,369</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,784,135</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Other liabilities</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">2,192,378</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">1,994,870</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">4,187,248</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">Total liabilities</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3,975,144</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,996,239</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5,971,383</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Stockholders&rsquo; deficit</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">(1,037,844</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">(389,495</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">(1,427,339</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">Total liabilities and stockholders&rsquo; equity</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">2,937,300</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">1,606,744</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">4,544,044</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Income Statements:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="text-align: center; border-bottom: Black 1pt solid">For the Year Ended December 31, 2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Transportation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Financing</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Corporate</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; text-align: justify">Revenue</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">27,316,857</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">580,647</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">27,897,504</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Cost of Goods Sold</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">23,377,335</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">147,934</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">23,525,269</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Gross Profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,939,522</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">432,713</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,372,235</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Operating expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,334,228</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">739,301</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">108,664</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,182,193</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Depreciation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,886</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,724</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48,610</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Interest income&nbsp;&nbsp;(expense)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(39,639</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(39,639</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Gain on PPP loan forgiveness</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">208,446</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">208,446</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Income (loss) before income tax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,763,215</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(344,312</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(108,664</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,310,239</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Income tax benefit (expense)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(439,217</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">86,399</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(352,818</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Net income (loss)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,323,998</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(257,913</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(108,664</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">957,421</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center">For the Year Ended December 31, 2020</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Transportation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Financing</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: justify">Revenue</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">13,471,155</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">440,385</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">13,911,540</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Cost of Goods Sold</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11,773,778</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">105,171</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11,878,949</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Gross Profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,697,377</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">335,214</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,032,591</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Operating expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,413,734</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">452,391</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,866,125</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Depreciation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,193</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,469</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,662</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Interest income&nbsp;&nbsp;(expense)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3,851</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3,851</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Income (loss) before income tax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">277,599</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(141,646</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">135,953</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Income tax benefit (expense)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(77,375</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(77,375</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Net income (loss)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">200,224</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(141,646</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt">58,578</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">NOTE 7 - NOTES PAYABLE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">On November 1, 2018,
eCommerce Funding entered into a note payable in the amount of $500,000 with SWL Investments, an Oklahoma limited partnership,
to provide operating funds to LeeWay Capital. On April 1, 2019, the note was amended to provide up to a total of $1,500,000 in
funding under the note. On November 1, 2021 the note was amended to provide for up to a total of $2,200,000 and the maturity date
was extended to November 1, 2027. The note bears interest at the rate of 12% per annum and has a maturity date of November 1, 2027.
Under the terms of the note the interest is to be accrued and is due and payable with the principal on the maturity date. Funds
are drawn against this note as required to fund the operations and business activities of the Company. At December 31, 2021 and
2020 the funds drawn against this note were $1,723,206 and $1,089,272, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company applied
for and received a Small Business Administration loan under the Paycheck Protection Program (&ldquo;PPM&rdquo;) in the amount of
$208,446. The loan was funded on May 29, 2020, bears an interest rate of 1% per annum and has a maturity date of May 29, 2022.
The funds obtained under this loan were used for the payment of salaries, health insurance costs, and rent, all of which expenses
qualify for the loan forgiveness under the terms of the loan. The Company applied for and on June 10, 2021 received notice of forgiveness
of both the principal of the note and all accrued unpaid interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 8 &ndash; CAPITAL STOCK</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Preferred Stock &ndash; There are 20,000,000
shares of preferred stock authorized with a par value of $0.001. The preferred stock has super voting rights, which provide that
each share of preferred stock has voting rights equivalent to 10,000 shares of common stock. At December 31, 2021 and 2020, there
were 2,000 shares of preferred stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Common Stock &ndash; There are 180,000,000
shares of common stock authorized with a par value of $0.001. At December 31, 2021 and 2020 there were 30,000,000 shares of common
stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 9 &ndash; COMMITMENTS AND CONTINGENCIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company currently occupies approximately
3,492 square feet of office space under a sublease from Uinta Advisors, LLC. The sublease was entered into effective November 1,
2018 and has a termination date of July 31, 2022. The sublease provides a monthly lease of $6,984 per month with 3% increases become
effective on August 1 for each year of the sublease. The Company has accounted for the lease using the guidance from ASC 842, recording
an operating right-of use-asset and an operating lease liability. (See Note 3 - Leases)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2019, a novel strain of coronavirus
was reported to have surfaced in Wuhan, China, which has and is continuing to spread throughout China and other parts of the world,
including the United States. On January 30, 2020, the World Health Organization declared the outbreak of the coronavirus disease
(COVID-19) a &ldquo;Public Health Emergency of International Concern.&rdquo; On January 31, 2020, U.S. Health and Human Services
Secretary Alex M. Azar II declared a public health emergency for the United States to aid the U.S. healthcare community in responding
to COVID-19, and on March 11, 2020 the World Health Organization characterized the outbreak as a &ldquo;pandemic&rdquo;. The significant
outbreak of COVID-19 has resulted in a widespread health crisis that could adversely affect the economies and financial markets
worldwide, and&nbsp;could adversely affect our business, results of operations and financial condition.&nbsp;&nbsp;The ultimate
extent of the impact of any epidemic, pandemic or other health crisis on our business, financial condition and results of operations
will depend on future developments, which are highly uncertain and cannot be predicted, including new information that may emerge
concerning the severity of such epidemic, pandemic or other health crisis and actions taken to contain or prevent their&nbsp;further
spread, among others.&nbsp;These and other potential impacts of an epidemic, pandemic or other health crisis, such as COVID-19,
could therefore materially and adversely affect our business, financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 10 - &nbsp;&nbsp;RELATED PARTY TRANSACTIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company entered into a note payable with
SWL Investments (See Note 6 &ndash; Notes Payable). SWL Investments is an Oklahoma limited partnership owned and operated by S.
Whitfield Lee, who is an affiliate, officer and director of both LeeWay Capital, Inc. and LeeWay Services, Inc., the parent company
of LeeWay Capital, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The office space leased by the Company is shared
with W.L.P. Corporation (&ldquo;WLP&rdquo;), a related party. Under the shared space agreement WLP pays one-half of the monthly
lease fee and related expenses. The lease expense recorded in these financial statements only records as expenses the portion of
the lease expenses which are the responsibility and were paid by LeeWay Services, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 11 &ndash; INCOME TAXES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Prior to the incorporation of LeeWay Services,
Inc., the entities combined into this report were owned by W.L.P. Corporation, which filed a consolidated tax return. The deferred
income tax asset and income tax liability and expense included in these financial statements are reflective of the tax position
at the time the entities were acquired by LeeWay Services, Inc. The net operating loss carryforwards at December 31, 2021 and 2020
were incurred prior to January 1, 2022, when a change of greater than 50% in ownership of the subsidiary companies occurred. As
a result of the change in ownership, only a portion of the net operating loss carry forwards incurred prior to the change becomes
available each year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company accounts for income taxes under
the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax
consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities
are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted
tax rates in effect for the year in which the differences are expected to reverse.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Federal and state net operating loss carry
forwards at December 31, 2021 and 2020 were $499,921 and $1,457,341, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net deferred tax assets consist of the following
components at December 31, 2021 and 2020:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: justify">NOL carryover</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">(499,921</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">(1,457,341</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Provision for bad debts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">379,694</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">188,196</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Interest</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">39,639</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,851</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Valuation allowance</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">80,588</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,265,294</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Net deferred tax asset</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The income tax provision differs from the amount
of income tax determined by applying the U.S. federal income tax rate to pretax income from continuing operations for the years
ended December 31, 2021 and 2020 due to the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right; border-bottom: Black 1pt solid">2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right; border-bottom: Black 1pt solid">2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: justify">Tax at statutory rate</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">352,818</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">28,350</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Provision for bad debts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">79,736</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">39,521</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Interest</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,324</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">809</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Change in valuation allowance</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(440,878</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(68,880</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Income tax benefit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under FASB ASC 740-10-05-6, tax benefits are
recognized only for the tax positions that are more likely than not to be sustained upon examination by tax authorities. The amount
recognized is measured as the largest amount of benefit that is greater than 50 percent likely to be realized upon ultimate settlement.
Unrecognized tax benefits are tax benefits claimed in the company's tax return that do not meet these recognition and measurement
standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company's policy is to recognize potential
interest and penalties accrued related to unrecognized tax benefits with the income tax expense. The tax years 2021, 2020 and 2019
remain open for examination for federal income tax purposes and by other major taxing jurisdictions to which the Company is subject.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 12 - &nbsp;&nbsp;SUBSEQUENT EVENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company, during the year ended December
31, 2021, had need to increase its subordinated debt in order to provide funds for specialty financing agreements entered into.
The subordinated debt agreement was amended to allow for borrowings up to $2,200,000 and the maturity date was extended to November
1, 2027. The balance at December 31, 2021 was $1,733,206.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with ASC 855-10 management
reviewed all other material events through May 4, 2022. There are no other material subsequent events to report.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>Shares
of Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><IMG SRC="cm102_img11.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>LeeWay Services, Inc.</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 30%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 100%; border-top: Black 1pt solid; padding-bottom: 2.25pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 2.25pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>PRELIMINARY PROSPECTUS</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2.25pt; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>ThinkEquity</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;&nbsp; , 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Through and including &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2022 (the 25<SUP>th</SUP> day after the date of this offering), all dealers effecting transactions in these securities, whether
or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealer&rsquo;s obligation
to deliver a prospectus when acting as an underwriter and with respect to an unsold allotment or subscription.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>Part II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>INFORMATION NOT
REQUIRED IN PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>Item 13. Other
Expenses of Issuance and Distribution.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The following
table indicates the expenses to be incurred in connection with the offering described in this registration statement, other than
underwriting discounts and commissions, all of which will be paid by us. All amounts are estimated except the SEC registration
fee and the FINRA filing.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 42.85pt; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 42.85pt; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 87%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount</B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">SEC registration fee</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">1,699.02</P><FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">FINRA filing fee</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>$</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3,249.22</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD>Nasdaq&nbsp;listing fee</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">Accountants&rsquo; fees and expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">Legal fees and expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">Printing and engraving expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Miscellaneous</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">Total expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">*&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">*To be included
by amendment.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 42.85pt; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 42.85pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>Item 14. Indemnification
of Directors and Officers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Neither our articles
of incorporation nor bylaws prevent us from indemnifying our officers, directors and agents to the extent permitted under the <I>Nevada
Revised</I> Statutes (&ldquo;NRS&rdquo;). NRS Section 78.7502, provides that a corporation may indemnify any director, officer,
employee or agent of a corporation against expenses, including fees, actually and reasonably incurred by him in connection with
any defense to the extent that a director, officer, employee or agent of a corporation has been successful on the merits or otherwise
in defense of any action, suit or proceeding referred to Section 78.7502(1) or 78.7502(2), or in defense of any claim, issue or
matter therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NRS 78.7502(1) provides that a corporation
may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative or investigative, except an action by or in the right of the corporation,
by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or is or was serving at the
request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust
or other enterprise, against expenses, including fees, judgments, fines and amounts paid in settlement actually and reasonably
incurred by him in connection with the action, suit or proceeding if he: (a) is not liable pursuant to NRS 78.138; or (b) acted
in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the corporation, and,
with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NRS Section 78.7502(2) provides that a corporation
may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action
or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that he is or was a director,
officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee
or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses, including amounts paid
in settlement and fees actually and reasonably incurred by him in connection with the defense or settlement of the action or suit
if he: (a) is not liable pursuant to NRS 78.138; or (b) acted in good faith and in a manner which he reasonably believed to be
in or not opposed to the best interests of the corporation. Indemnification may not be made for any claim, issue or matter as to
which such a person has been adjudged by a court of competent jurisdiction, after exhaustion of all appeals there from, to be liable
to the corporation or for amounts paid in settlement to the corporation, unless and only to the extent that the court in which
the action or suit was brought or other court of competent jurisdiction determines upon application that in view of all the circumstances
of the case, the person is fairly and reasonably entitled to indemnity for such expenses as the court deems proper.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NRS Section 78.747 provides that except as
otherwise provided by specific statute, no director or officer of a corporation is individually liable for a debt or liability
of the corporation, unless the director or officer acts as the alter ego of the corporation. The court as a matter of law must
determine the question of whether a director or officer acts as the alter ego of a corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our Amended Bylaws provide that we will indemnify
our directors and executive officers to the fullest extent not prohibited by the NRS, as amended from time to time, or any other
applicable law <I>provided, however, </I>that the we may modify the extent of such indemnification by individual contracts with
our directors and executive officers; and, <I>provided, further, </I>that we shall not be required to indemnify any director or
executive officer in connection with any proceeding (or part thereof) initiated by such person unless (i) such indemnification
is expressly required to be made by law, (ii) the proceeding was authorized by the Board of Directors of the corporation, (iii)
such indemnification is provided by the corporation, in its sole discretion, pursuant to the powers vested in the corporation under
the Act or any other applicable law or (iv) such indemnification is required to be made under the amended Bylaws. We have the power
to indemnify our other officers, employees and other agents as set forth in the NRS or any other applicable law. The Board of Directors
shall have the power to delegate the determination of whether indemnification shall be given to any such person except executive
officers to such officers or other persons as the Board of Directors shall determine. To the fullest extent permitted by the NRS,
or any other applicable law, upon approval by our Board of Directors, we may purchase insurance on behalf of any person required
or permitted to be indemnified pursuant to our amended Bylaws.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If a claim is not paid in full by the Company,
the claimant may at any time thereafter bring suit against the Company to recover the unpaid amount of the claim and, if successful
in whole or in part, the claimant shall be entitled to be paid also the expense of prosecuting such claim. It shall be a defense
to any such action (other than an action brought to enforce a claim for expenses incurred in defending any proceeding in advance
of its final disposition where any undertaking required by the By-laws of the Company has been tendered to the Company) that the
claimant has not met the standards of conduct which make it permissible under the NRS for the Company to indemnify the claimant
for the amount claimed, but the burden of proving such defense shall be on the Company. Neither the failure of the Company (including
its Board of Directors, legal counsel, or its stockholders) to have made a determination prior to the commencement of such action
that indemnification of the claimant is proper in the circumstances because he or she has met the applicable standard of conduct
set forth in the NRS, nor an actual determination by the Company (including its Board of Directors, legal counsel, or its stockholders)
that the claimant has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that
the claimant has not met the applicable standard of conduct. Indemnification shall include payment by the Company of expenses in
defending an action or proceeding in advance of the final disposition of such action or proceeding upon receipt of an undertaking
by the person indemnified to repay such payment if it is ultimately determined that such person is not entitled to indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We intend to enter into separate indemnification
agreements with our directors and officers. Each indemnification agreement will provide, among other things, for indemnification
to the fullest extent permitted by law and our amended and restated certificate of incorporation and bylaws against any and all
expenses, judgments, fines, penalties and amounts paid in settlement of any claim. The indemnification agreements will provide
for the advancement or payment of all expenses to the indemnitee and for reimbursement to us if it is found that such indemnitee
is not entitled to such indemnification under applicable law and our articles of incorporation and bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are in the process of obtaining standard
policies of insurance under which coverage is provided (a)&nbsp;to our directors and officers against loss rising from claims made
by reason of breach of duty or other wrongful act, and (b)&nbsp;to us with respect to payments which we may make to such officers
and directors pursuant to the above indemnification provision or otherwise as a matter of&nbsp;law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The underwriting agreement, filed as Exhibit&nbsp;1.1
to&nbsp;this registration statement, will provide for indemnification, under certain circumstances, by the underwriter of us and
our officers and directors for certain liabilities arising under the Securities Act or&nbsp;otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors, officers or persons controlling us under the foregoing provisions,
we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities
Act and is therefore unenforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>Item 15. Recent
Sales of Unregistered Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Since the Company&rsquo;s incorporation on
May 5, 2021, it has granted or issued the following securities of the registrant that were not registered under the Securities
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 31, 2021, the Company issued 30,000,000
shares of common stock to an accredited investor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 3, 2021, the Company issued 2,000
shares of preferred stock to an accredited investor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The issuance of the capital stock listed above
was deemed exempt from registration under Section 4(a)(2) of the Securities Act or Regulation D promulgated thereunder in that
the issuance of securities were made to an accredited investor and did not involve a public offering. The recipient of such securities
represented its intention to acquire the securities for investment purposes only and not with a view to or for sale in connection
with any distribution thereof.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>Item 16. Exhibits
and Financial Statement Schedules.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(a) <B><I>Exhibits</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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>
    <TD STYLE="vertical-align: top; width: 8%; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Exhibit <BR>
No.</FONT></TD>
    <TD STYLE="vertical-align: top; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 90%; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">1.1*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Underwriting Agreement</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="cm102_ex3-1.htm"><FONT STYLE="font-size: 10pt">3.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="cm102_ex3-1.htm"><FONT STYLE="font-size: 10pt">Certificate of Incorporation of the
    Registrant</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="cm102_ex3-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">3.2</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="cm102_ex3-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Bylaws of The Registrant</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="cm102_ex3-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">3.3</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="cm102_ex3-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Certificate of Designation of Series X Super Voting Preferred Stock</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="cm102_ex3-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">3.4</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="cm102_ex3-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Certificate of Amendment to Designation of Series X Super Voting Preferred Stock</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">4.1*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Underwriter&rsquo;s Warrant (included as an exhibit to Exhibit 1.1)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">5.1*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Opinion of Counsel to Registrant</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="cm102_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">10.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="cm102_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Food Transportation Services Agreement dated as of May 17, 2019 </FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="cm102_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">10.2</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="cm102_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Motor Transportation Agreement Contract dated March 22, 2017 </FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="cm102_ex10-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">10.3</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="cm102_ex10-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Subordinated Promissory Note dated November 1, 2018 of eCommerce Funding LLC</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="cm102_ex21-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">21.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="cm102_ex21-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">List of Subsidiaries of the Registrant</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="cm102_ex23-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">23.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="cm102_ex23-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Consent of Fruci &amp; Associates II, PLLC, dated&nbsp;June 13, 2022</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">23.2*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Consent of Nevada Counsel to Registrant (included in Exhibit 5.1)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="cm102_ex107.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">107</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="cm102_ex107.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Exhibit Filing Fees</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>99.1*</TD>
    <TD>&nbsp;</TD>
    <TD>Consent of Jim Dreyfous (Director Nominee)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="cm102_ex99-2.htm" STYLE="-sec-extract: exhibit">99.2</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="cm102_ex99-2.htm" STYLE="-sec-extract: exhibit">Consent of John Morrell (Director Nominee)</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="cm102_ex99-3.htm" STYLE="-sec-extract: exhibit">99.3</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="cm102_ex99-3.htm" STYLE="-sec-extract: exhibit">Consent of Charise Castagnoli (Director Nominee)</A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD><FONT STYLE="font-size: 10pt">To be submitted by amendment</FONT></TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(b) <B><I>Financial Statement Schedules</I></B>:
All schedules are omitted because the required information is inapplicable or the information is presented in the financial statements
and the related notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><B>Item 17. Undertakings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The undersigned registrant hereby undertakes
to provide to the underwriters at the closing specified in the underwriting agreement, certificates in such denominations and registered
in such names as required by the underwriters to permit prompt delivery to each purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to
any charter provision, by law or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant
will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will
be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The undersigned registrant hereby undertakes
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(1) For purposes of determining
any liability under the Securities Act, the information omitted from the form of prospectus filed as part of this registration
statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule 424(b)(1) or
(4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared
effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(2) For the purpose of
determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus shall be
deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Act of 1933, the registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized in the City of Salt Lake City, State of Utah, on June 13, 2022.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<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">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>LEEWAY SERVICES, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-bottom: 1.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 5%; text-align: justify"><FONT STYLE="font-size: 10pt">By:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: black 1pt solid">&nbsp;/s/ S. Whitfield Lee</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">S. Whitfield Lee</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Chairman, Chief Executive Officer and President</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(Principal Executive Officer)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>SIGNATURES AND POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We, the undersigned officers and directors
of LeeWay Services, Inc. hereby severally constitute and appoint S. Whitfield Lee and Keith L. Merrell, and each of them singly
(with full power to each of them to act alone), our true and lawful attorneys-in-fact and agents, with full power of substitution
and re-substitution in each of them for him and in his name, place and stead, and in any and all capacities, to sign any and all
amendments (including post-effective amendments) to this registration statement (or any other registration statement for the same
offering that is to be effective upon filing pursuant to Rule 462(b) under the Securities Act of 1933), and to file the same, with
all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said
attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite
or necessary to be done in and about the premises, as full to all intents and purposes as he might or could do in person, hereby
ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their or his substitute or substitutes,
may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the requirements of the Securities
Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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>
    <TD STYLE="border-bottom: Black 1pt solid; width: 38%"><FONT STYLE="font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 38%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Position</B></FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 20%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Date</B></FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid">/s/ S. Whitfield Lee</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chairman, Chief Executive Officer and President</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">June 13, 2022</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">S. Whitfield Lee</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(Principal Executive Officer)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid">/s/ Keith L. Merrell</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Financial Officer</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;June 13, 2022</FONT></TD></TR>
<TR>
    <TD>Keith L. Merrell</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>



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[{"type": "S-1", "sequence": "1", "filename": "cm102_s1.htm", "description": "FORM S-1", "secsgml_size_bytes": 1263316}]
{"company-data": {"conformed-name": "LEEWAY SERVICES, INC.", "cik": "0001888780", "assigned-sic": "4213", "irs-number": "873033814", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-1", "act": "33", "file-number": "333-265544", "film-number": "221010688"}, "business-address": {"street1": "2150 SOUTH 1300 EAST", "street2": "SUITE 360", "city": "SALT LAKE CITY", "state": "UT", "zip": "84106", "phone": "(844) 533-9294"}, "mail-address": {"street1": "2150 SOUTH 1300 EAST", "street2": "SUITE 360", "city": "SALT LAKE CITY", "state": "UT", "zip": "84106"}}
As filed with
the Securities and Exchange Commission on June 13, 2022
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-1
REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933
LeeWay
Services, Inc.
(Exact name of registrant as specified in its
charter)
Nevada
4213
87-3033814
(State or Other Jurisdiction of
Incorporation or Organization)
(Primary Standard Industrial
Classification Code Number)
(I.R.S. Employer
Identification No.)
2150 South 1300 East, Suite 360
Salt Lake City, UT 84106
385-715-7200
(Address, including zip code, and telephone
number, including area code,
of registrant's principal executive offices)
S. Whitfield Lee
Chief Executive Officer
LeeWay Services, Inc.
2150 South 1300 East, Suite 360
Salt Lake City, UT 84106
385-715-7200
(Name, address, including zip code, and telephone
number, including area code, of agent for service)
Copies to
:
Ross D. Carmel, Esq.
Louis A. Bevilacqua, Esq.
Jeffrey P. Wofford, Esq.
Bevilacqua PLLC
Carmel, Milazzo & Feil LLP
1020 Connecticut Ave., NW, Ste. 500
55 West 39
th
Street, New York, NY 10018
Washington, DC 20036
Telephone: (212) 658-0458
Telephone: (202) 869-0888
Approximate date of commencement of proposed
sale to the public:
As soon as practicable after the effective date of this Registration Statement.
If any of the securities being registered on
this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following
box.
x
If this Form is filed to register additional
securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities
Act registration statement number of the earlier effective registration statement for the same offering.
¨
If this Form is a post-effective amendment
filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering.
¨
If this Form is a post-effective amendment
filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering.
¨
Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions
of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2
of the Exchange Act.
Large accelerated filer
¨
Accelerated filer
¨
Non-accelerated filer
x
Smaller reporting company
x
Emerging growth company
x
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 to Section 7(a)(2)(B) of the Securities Act.
☒
The Registrant hereby amends this Registration
Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further
amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section
8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the Commission acting
pursuant to said Section 8(a), may determine.
The information
contained in this preliminary prospectus is not complete and may be changed. These securities may not be sold until the registration
statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell
these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.
PRELIMINARY PROSPECTUS
SUBJECT TO COMPLETION
DATED June 13, 2022
Shares
Common
Stock
LeeWay Services, Inc.
This is a firm commitment initial public offering
of shares of common stock of LeeWay Services, Inc. Prior to this offering, there has been no public market for our common stock.
We anticipate that the initial public offering price will be between $           
and              per share.
We have applied to have our common stock listed on the Nasdaq
Capital Market under the symbol "               ",
which listing is a condition to this offering.
Upon the completion of this offering, W.L.P. Corporation will
beneficially own voting stock that provides it with approximately             %
of the voting power of our voting stock (approximately             %
if the over-allotment option is exercised) and we will be a "controlled company" within the meaning of the listing
rules of the Nasdaq Capital Market.
We are an "emerging growth company"
as that term is used in the Jumpstart Our Business Startups Act of 2012, and we have elected to comply with certain reduced public
company reporting requirements.
Investing in our common stock involves a high
degree of risk. See "Risk Factors" beginning on page 10.
Neither the Securities and Exchange Commission nor any state
securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete.
Any representation to the contrary is a criminal offense.
Per Share
Total
Initial public offering price
$
$
Underwriting discounts and commissions
(1)
$
$
Proceeds to us, before expenses
$
$
(1)
Underwriting discounts and commissions do not include a non-accountable expense allowance equal to 1.0% of the initial public offering price payable to the underwriters. See "
Underwriting
" beginning on page 58 of this prospectus for additional information regarding underwriting compensation.
We have granted a 45-day option to the representative
of the underwriters to purchase up to            additional shares of common
stock solely to cover over-allotments, if any.
The underwriters expect to deliver the shares
to purchasers on or about                , 2022.
ThinkEquity
The date of this prospectus is                ,
2022
Measurement period
of the above references is for the years 2017 through 2021.
Table of Contents
MARKET DATA
i
PROSPECTUS SUMMARY
1
SUMMARY OF THE OFFERING
8
RISK FACTORS
10
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
28
USE OF PROCEEDS
29
DIVIDEND POLICY
29
CAPITALIZATION
30
DILUTION
30
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
31
BUSINESS
44
MANAGEMENT
57
EXECUTIVE COMPENSATION
62
PRINCIPAL STOCKHOLDERS
62
CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
63
DESCRIPTION OF SECURITIES
64
Shares Eligible for Future Sale
66
MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS FOR NON-U.S. HOLDERS
68
UNDERWRITING
71
LEGAL MATTERS
78
EXPERTS
78
WHERE YOU CAN FIND MORE INFORMATION
78
INDEX TO FINANCIAL STATEMENTS
F-1
Through and including               , 2022 (the 25th day
after the date of this prospectus), all dealers that effect transactions in these securities, whether or not participating in this
offering, may be required to deliver a prospectus. This is in addition to the dealers' obligation to deliver a prospectus
when acting as underwriter and with respect to their unsold allotments or subscriptions.
You should rely only on the information contained
in this prospectus or any prospectus supplement or amendment. Neither we, nor the underwriters, have authorized any other person
to provide you with information that is different from, or adds to, that contained in this prospectus. If anyone provides you with
different or inconsistent information, you should not rely on it. Neither we nor the underwriters take responsibility for and can
provide no assurance as to the reliability of, any other information that others may give you. You should assume that the information
contained in this prospectus or any free writing prospectus is accurate only as of the date of this prospectus, regardless of the
time of delivery of this prospectus or of any sale of our common stock. Our business, financial condition, results of operations
and prospects may have changed since that date. We are not making an offer of any securities in any jurisdiction in which such
offer is unlawful.
No action is being taken in any jurisdiction
outside the United States to permit a public offering of our common stock or possession or distribution of this prospectus in that
jurisdiction. Persons who come into possession of this prospectus in jurisdictions outside the United States are required to inform
themselves about and to observe any restrictions as to this public offering and the distribution of this prospectus applicable
to that jurisdiction.
Market
Data
Market data and certain industry data and forecasts
used throughout this prospectus were obtained from internal company surveys, market research, consultant surveys, publicly available
information, reports of governmental agencies and industry publications and surveys. Industry surveys, publications, consultant
surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable,
but the accuracy and completeness of such information is not guaranteed. To our knowledge, certain third-party industry data that
includes projections for future periods does not take into account the effects of the worldwide coronavirus pandemic. Accordingly,
those third-party projections may be overstated and should not be given undue weight. We have not independently verified any of
the data from third party sources, nor have we ascertained the underlying economic assumptions relied upon therein. Similarly,
internal surveys, industry forecasts and market research, which we believe to be reliable based on our management's knowledge
of the industry, have not been independently verified. Forecasts are particularly likely to be inaccurate, especially over long
periods of time. In addition, we do not necessarily know what assumptions regarding general economic growth were used in preparing
the forecasts we cite. Statements as to our market position are based on the most currently available data. While we are not aware
of any misstatements regarding the industry data presented in this prospectus, our estimates involve risks and uncertainties and
are subject to change based on various factors, including those discussed under the heading "
Risk Factors
" in
this prospectus.
i
PROSPECTUS
SUMMARY
This summary provides a brief overview of
the key aspects of our business and our securities. You should read this entire prospectus carefully, including the section titled
"Management's Discussion and Analysis of Financial Condition and Results of Operations," and our combined financial
statements and the related notes included elsewhere in this prospectus, before making an investment decision. Furthermore, you
should read carefully the risks of investing in our common stock discussed under the section titled "Risk Factors."
Some of the statements contained in this prospectus, including statements under "Summary" and "Risk Factors"
as well as those noted in the documents incorporated herein by reference, are forward-looking statements and may involve a number
of risks and uncertainties. Our actual results and future events may differ significantly based upon a number of factors. The reader
should not put undue reliance on the forward-looking statements in this document, which speak only as of the date on the cover
of this prospectus.
Unless the context otherwise requires, references
in this prospectus to "LeeWay," "LeeWay Services," the "Company," "our Company,"
the "registrant," "we," "us" and "our" refer to LeeWay Services, Inc. and its subsidiaries.
Our
Company
Overview
We operate a freight brokerage and transportation
business, providing comprehensive transportation management solutions for shippers and carriers. Established in the early
1980s and headquartered in Salt Lake City, Utah, we deliver a one-stop freight management platform that connects shippers with
truckers to facilitate shipments across distance ranges, cargo weights, and types. We deliver value-driven logistics solutions
powered by effective technology and distinguished by personalized service built on solid relationships. We are building a next-generation
digital freight platform that we believe will transform the highly fragmented $1 trillion transportation and logistics sector.
Logistics is the lifeblood of our economy,
powering the movement of goods and connecting the engines of production and consumption. We aspire to revolutionize logistics,
improve efficiency across the value and supply chain and reduce the carbon footprint for our planet. Our goal is to leverage technology
to eliminate inefficiencies and create economic opportunity across the freight ecosystem. Our team is comprised of innovators seeking
to build the best products for all parties in the freight industry and to provide shippers and carriers with unparalleled transparency.
We also began operating a specialty financial
services business in 2019 that we believe will become a next-generation, end-to-end cloud-based financing platform for small and
medium sized companies primarily in the e-commerce marketplace.  By combining industry-leading technology and security with
the expertise and care of our team, we serve e-commerce business owners nationwide with efficiency, simplicity, transparency and
reliability by providing alternative financial products to help them grow. This same technology will also allow our freight brokerage
to offer quick pay and factoring services to their carrier and shippers, all with a one-click, simple process.
We are also in the process of developing proprietary
mobile applications and other transportation financial products which can be used by shippers, carriers and other freight brokers.
Total revenue for the three months ended
March 31, 2022 was $12,233,724, an increase of $7,644,643 over total revenue of $4,589,081 realized for the same period in 2021.
Net income for the three months ended March 31, 2022 was $900,385 compared to $47,074 for the same period in 2021, an increase
of $843,311. Revenue from freight brokerage accounted for 98.72% of the 2022 revenue compared to 97.00% of total revenue for the
comparable 2021 period.
Our total revenues increased by $13,985,964,
or 101%, to $27,897,504 for the year ended December 31, 2021 compared to the year ended December 31, 2020; and by $5,642,312, or
68% to $13,911,540 for the year ended December 31, 2020, compared to $8,269,228 in revenue for the year ended December 31, 2019.
Our net income increased by $898,843, or 1,534%, to $957,421 for the year ended December 31, 2021 compared to the year ended December
31, 2020; and by $289,958, or 225% to $58,578 for the year ended December 31, 2020, compared to a $231,380 net loss for the year
ended December 31, 2019. Our freight brokerage and transportation business accounted for approximately 97.92% and 96.83% of our
revenues for the years ended December 31, 2021 and 2020, respectively.
Our Corporate History and Structure
Our Company was incorporated in Nevada
on October 12, 2021, for the purpose of being the over-arching holding Company for our two business segments. W.L.P. Corporation,
a Utah corporation ("WLP"), is the 100% owner of our Company. WLP is beneficially owned by family members of S. Whitfield
Lee, our Chairman of the Board, Chief Executive Officer and President. The WLP Board of Directors is comprised of Chris Von Maack,
Jon Davies, the sons-in-law of S. Whitfield Lee, and Whitfield Lee, the son of S. Whitfield Lee.
Our freight brokerage and logistics business
is operated through our wholly owned subsidiary, LeeWay Transportation, Inc. ("LeeWay Transportation"). Our specialty
financial services business is operated through our wholly owned subsidiary, LeeWay Capital, Inc. ("LeeWay Capital").
Previously, WLP was the 100% direct owner of
our freight and logistics companies: LeeWay Transportation, LeeWay Freight, LeeWay Logistics and one of our specialty financial
services companies: eCommerce Financing. WLP Capital Inc., a Nevada corporation ("WLP Capital"), and a wholly owned
subsidiary of WLP, previously owned 100% of the shares of LeeWay Capital.
1
In December 2021, we completed a corporate
reorganization. In connection with this reorganization, WLP transferred its 100% ownership in LeeWay Logistics and LeeWay Freight
to LeeWay Transportation pursuant to a share transfer agreement. As a result, LeeWay Transportation, while remaining a wholly owned
subsidiary of WLP, became the holding company for our freight brokerage and logistics business. LeeWay Capital became the holding
company for our recently started specialty financial services business by WLP transferring its 100% membership interest in eCommerce
Financing to LeeWay Capital, which was already the sole owner of eCommerce Funding. We became the holding company for LeeWay Transportation
and LeeWay Capital through a capital contribution from WLP of 100% of its equity in LeeWay Transportation and LeeWay Capital in
exchange for 30,000,000 shares of our common stock and 2,000 shares of our Series X Super Voting Preferred Stock ("Super
Voting Preferred Stock"), each share of which shall automatically convert into one share of the common stock of the Company
on the date the common stock of the Company is first listed on any nationally recognized stock exchange.
Our Business
We provide comprehensive transportation management
solutions for shippers and carriers. We are also in the process of developing proprietary applications and integrating already
developed TMS applications (which tracks driver's hours driven in compliance with US Department of Transportation regulations)
as a part of the developing digital freight brokerage market.
We match shipper loads with carrier capacity,
which is primarily provided by small carriers and independent owner operators. The loads are primarily full truckload and often
need specialized trailers such as refrigeration or flatbeds in addition to dry vans. We use available transportation management
systems, which technology increases our ability to provide service. Service to the shipper and information to both the carrier
and the shipper is a major focus for the Company. Approximately 97% of carriers in the U.S. operate twenty or fewer trucks, with
90% of those operating with six or fewer trucks
1
. Good freight brokers are important to these carriers as a carrier
partner in getting their loads. We are working to develop proprietary transportation technology as a new crop of digital freight
matching platforms have begun to emerge over the past few years. Frost & Sullivan refers to this digital brokerage s trucking-as-a-service
or TaaS. This technology will provide the ability for the carriers to use mobile technology to increase service, visibility,
signature verification and provide instant account payable settlement, quick or instant pay, to the carrier.
We also operate a next-generation, end-to-end
cloud-based financing platform for small and medium sized companies primarily in the e-commerce marketplace.  By combining
industry-leading technology and security with the expertise and care of our team, we serve e-commerce business owners nationwide
with efficiency, simplicity, transparency and reliability by providing alternative financial products to help them grow. We are
also in the process of developing proprietary mobile apps and other transportation financial products which can be used by shippers,
carriers and other freight brokers.
We are a one-stop-shop for financial services
that allows ecommerce sellers access to business capital and financing. Our mission is to transform the way business lending works
in the ecommerce industry by making it efficient and convenient for e-tailers to access capital. Enabled by our proprietary technology
and analytics, we aggregate and analyze thousands of data points to assess the creditworthiness of ecommerce sellers rapidly and
accurately. We have developed financial products that offer the speed, convenience, and accessibility that only an integrated digital
platform can provide.
Market Opportunity
The freight brokerage industry market in the
US is estimated to be approximately $156 billion for 2022 with an estimated growth rate of 7.9%
2
. Freight brokerage
is a variable cost industry that facilitates the movement of freight by matching shippers' loads to third-party carriers.
The truckload share captured by brokers has been increasing over the last several years and it is estimated to continue to grow
by 7% annually for the next 5 years
3
. The US freight brokerage market is moderately fragmented in nature with
the presence of large regional players, global players and small and medium sized local players with a few players in the market. Most
freight brokerage operations are small to medium sized, and there are approximately 17,000 truck brokers operating in the US
4
. 
Market share concentration in the industry is increasing due to merger and acquisition activity. Additionally, barriers to entry
have been growing as digital technology is increasingly becoming more important as well as the need of capital to acquire trailer
pools for certain customers. These could be a differentiation factor for shippers and carriers.
1
https://www.truckinfo.net/research/trucking-statistics
2
https://www.ibisworld.com/industry-statistics/market-size/freight-forwarding-brokerages-agencies-united-states/#:~:text=The%20market%20size%2C%20measured%20by,is%20%24156.7bn%20in%202022.
3
https://s29755.pcdn.co/wp-content/uploads/2020/03/Freight-Broker-Performance-Across-the-Cycle-October-2019-4.pdf
4
https://front.com/blog/freight-broker-success-stories
2
Competitive Strengths
Our people and value-added services play an
important role in increasing our client and customer retention. We will continue to increase the competitiveness of our existing
offerings by leveraging our data and growing our network of carriers and shippers. We also plan to expand our value-added service
offerings to better address and meet the needs of our clients. For example, we are working with LeeWay Capital to develop proprietary
transportation technology to allow the offering of quick pay and factoring to our carriers. We believe the following strengths
help in the development of digital freight marketplaces and to build a network-based business model:
·
Experienced Management Team
. Our management team has strategic and deep operational experience with demonstrated success in building freight brokerage companies.
·
Carrier and Shipper Partnerships
. Our value-led strategy has enabled us to establish strong relationships with carriers across the country. While we work with carriers of all sizes, we focus on small to mid-size carriers. This carrier network, combined with our data and technology, allows us to offer shippers an enterprise-grade offering as we match shipments at scale across a nationwide network of dependable carriers.
·
Proven,
                                         Strong, and Disciplined Growth
. We have proven our ability to grow both revenue
                                         and gross margin throughout a variety of challenging market environments. Our convincing
                                         performance proved the resiliency of our business model in 2020 and 2021 when we grew
                                         revenue by 68% for the year ended December 31, 2020 and 101% for the year ended December
                                         31, 2021, despite the market challenges presented by supply side problems and COVID-19.
                                         The upward momentum continued into 2022, where revenue increased by 167% over the three
                                         months in 2021. We believe we are well positioned to continue this vigorous growth into
                                         the future, given the robust demand in the market and our deepening relationships with
                                         new and existing shippers.
We believe two key competitive strengths will
continue to drive the success of our financial services business in the future:
·
Technology
.
Our platform aggregates and analyzes thousands of data points from dynamic, unique data sources, and the relationships among those attributes. This allows us to rapidly and accurately assess the growth prospects and cash flow consistency of each small business. Our credit decision system effectively eliminates human bias and failure in the decision-making process. The process and technological touchpoints are user-friendly, providing a fast, simple, and accurate user experience.
·
Scalability
. As revenue increases, our profitability and marketing budget will increase proportionally. This scaled marketing budget will allow us to continue to expand our brand reputation and recognition throughout the ecommerce community and online marketplaces. We can scale our business operations and services efficiently and effectively, given the automated nature of our Company and its technological capabilities. Additionally, ecommerce sellers that historically could not get funding from a traditional source can now scale their business, thanks to e-Commerce Seller Financing LLC. This symbiosis would provide greater opportunity throughout the marketplace not only for sellers, but ultimately for end-users, capitalizing on growth opportunities.
Our Growth Strategies
We plan to continue to offer the best service
and information available to our customers and carriers to build our core carrier network and our strategic client partnerships.
As we continue the development of our digital freight brokerage platform, we expect to source better rates, provide high-quality
service, and ensure predictable supply. This includes document control and document tracking from pickup to delivery, instant verification
of delivery, agreed-upon rates, and independent load boards. We will also be able to quickly establish shipper and carrier compliance
with the Department of Transportation and carrier safety record by utilizing API technology. Employing blockchain where possible
will facilitate a detailed record of every load and signature authentication. The technology will enable our growth to be scaled
in a highly efficient and effective manner.
We aim to attract shippers and truckers to
our platform through a combination of online and offline channels to grow our logistics network. We also plan to proactively gain
new shippers and truckers through our operations team, using their proven experience and expertise in the logistics industry to
rapidly scale products, features and sales as well as to provide support for shippers and truckers. By further refining our user
experience, we also aim to organically grow through word-of-mouth referrals. We will continue to enhance our freight matching services
and personalize our user experience, services, and operations based on the needs and preferences of each shipper and trucker. This
includes further standardizing order information and transaction processes and more precise profiling of shippers and truckers,
which is expected to enable more efficient freight matching. We anticipate that better user experience will drive shippers'
and truckers' engagement and increase their usage of more transactions and services on our platform. The key elements to
our strategy include:
3
·
Grow our logistics network
. We will strive to continue to build our core carrier network and our strategic client partnerships to drive network effects that both attract new carriers and shippers and retain them as long-term clients. Specifically, as we add more core carriers to our network, we expect to source better rates, provide higher-quality service, and ensure predictable supply. As the quality of the network increases, we expect to attract shippers with a consistent volume that is accurately matched to the business that carriers want.
·
Continue to invest in infrastructure and automation
. We will continue to invest in infrastructure development and technology to drive the logistics industry's development forward. We expect to make significant investments into further developing our abilities with respect to carrier payments, artificial intelligence, and data analytics in order to cater to a holistic set of shipper and trucker needs, creating value for them and thus enhancing our client retention.
·
Pursue strategic alliances, investments and acquisitions
.
We intend to pursue strategic alliances, investments and acquisitions that can enhance our market position, improve our core platform capabilities, broaden our service offerings, and strengthen our data and technology capabilities.
With respect to our financial services business,
our objective is to obtain a significant market share amongst online ecommerce companies that are looking to utilize financing
to sustain and grow their online ecommerce business. The key elements to our strategy include:
·
Build client loyalty
. We center our strategy around building trust and a lifetime relationship with our clients, which we believe will help build a sustainable competitive advantage. In order to deliver on our strategy, we must develop best-in-class unit economics and best-in-class products that build trust and reliability between our clients and our platform. We believe that will lead to us having a higher likelihood that they will continue to utilize our services to meet their financial needs in the future. This would result in delivering more revenue per client without incurring additional member acquisition costs, resulting in higher lifetime value per client.
·
Further invest and develop our technology platform
.   We are still at the beginning of our product roadmap and plan to continue to innovate and bring new financial products to market.
·
Increase the number of our partnerships
.   We believe we have the opportunity to significantly increase the number of integrated third-party partnerships on our network through both our dedicated sales team and B2B marketing efforts. Additionally, direct API integration means bringing on new partners is a seamless process.
·
Expand to new ecommerce marketplaces
.   We will continue to evaluate expanding our platform to new ecommerce markets. Merchants everywhere can benefit from a more transparent and fair way to acquire business capital, and we see an opportunity to generate value in many new markets through our platform.
Impact of Coronavirus Pandemic
We have proven our ability to grow both
revenue and gross margin throughout a variety of challenging market environments. Our convincing performance proved the resiliency
of our business model in 2020 and 2021 when we grew revenue by 68% for the year ended December 31, 2020 and 101% for the year ended
December 31, 2021, despite the market challenges presented by supply side problems and COVID-19. Revenue continued its rapid growth
in 2022, with revenue for the first three months of 2022 being 166% higher than the revenue for the first three months in 2021.
We believe we are well positioned to continue this vigorous growth into the future, given the robust demand in the market and our
deepening relationships with new and existing shippers.
Although it is difficult to predict the effect
and ultimate impact of the COVID-19 pandemic on our business, the impact of COVID19 could adversely affect our results of operations,
financial condition and cash flows in fiscal year 2022.
4
Controlled Company
WLP, is currently the beneficial owner of 100% of our voting stock.
Upon the closing of this offering, WLP will own approximately                 %
of the voting power of our outstanding voting stock (approximately                 %
if the over-allotment is exercised in full). We currently meet the definition of a "controlled company" under the corporate
governance standards for                 
listed companies and for so long as we remain a controlled company under this definition, we are eligible to utilize certain exemptions
from the corporate governance requirements of                 .
As long as our officers and directors, either
individually or in the aggregate, own at least 50% of the voting power of our Company, we are a "controlled company"
as defined under                  Rules.
For so as we are a controlled company under
that definition, we are permitted to rely on certain exemptions from corporate governance rules, including:
•
an exemption from the rule that a majority of our board of directors must be independent directors;
•
an exemption from the rule that the compensation of our chief executive officer must be determined or recommended solely by independent directors; and
•
an exemption from the rule that our director nominees must be selected or recommended solely by independent directors.
Although we do not intend to rely on the "controlled
company" exemption under the Nasdaq
listing rules, we could elect to rely on this exemption in the future. If we elect to rely on the "controlled company"
exemption, a majority of the members of our board of directors might not be independent directors and our nominating and corporate
governance and compensation committees might not consist entirely of independent directors.
As a result, you will not have the same protection
afforded to shareholders of companies that are subject to these corporate governance requirements.
5
Implications of Being an Emerging Growth
Company
We are an "emerging growth company,"
as defined in the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"). We will remain an emerging growth company
until the earlier of (i) the last day of the fiscal year following the fifth anniversary of the date of the first sale of our common
stock pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Securities Act");
(ii) the last day of the fiscal year in which we have total annual gross revenues of $1.07 billion or more; (iii) the date on which
we have issued more than $1 billion in nonconvertible debt during the previous three years; or (iv) the date on which we are deemed
to be a large accelerated filer under applicable SEC rules. We expect that we will remain an emerging growth company for the foreseeable
future but cannot retain our emerging growth company status indefinitely and will no longer qualify as an emerging growth company
on or before the last day of the fiscal year following the fifth anniversary of the date of the first sale of our common stock
pursuant to an effective registration statement under the Securities Act. For so long as we remain an emerging growth company,
we are permitted and intend to rely on exemptions from specified disclosure requirements that are applicable to other public companies
that are not emerging growth companies.
These exemptions include:
·
being permitted to provide only two years of audited financial statements, in addition to any required unaudited interim financial statements, with correspondingly reduced "
Management's Discussion and Analysis of Financial Condition and Results of Operations
" disclosure;
·
not being required to comply with the requirement of auditor attestation of our internal controls over financial reporting;
·
not being required to comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor's report providing additional information about the audit and the financial statements;
·
reduced disclosure obligations regarding executive compensation; and
·
not being required to hold a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.
We have taken advantage of certain reduced
reporting requirements in this prospectus. Accordingly, the information contained herein may be different than the information
you receive from other public companies in which you hold stock.
An emerging growth company can also take
advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised
accounting standards. This allows an emerging growth company to delay the adoption of certain accounting standards until those
standards would otherwise apply to private companies. We have irrevocably elected not to avail ourselves of this extended transition
period and, as a result, we will be required to adopt new or revised accounting standards on the dates on which adoption of such
standards is required for other public reporting companies.
We are also a "smaller reporting company"
as defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and have elected
to take advantage of certain of the scaled disclosure available for smaller reporting companies.
6
Corporate Information
Our principal executive offices are located
at 2150 South 1300 East, Suite 360, Salt Lake City, UT 84106. Our website address is leewayservices.com. The information included
on our website is not part of this prospectus.
Summary Risk Factors
Our business is subject to a number of risks.
You should be aware of these risks before making an investment decision. These risks are discussed more fully in the section of
this prospectus titled "Risk Factors," which begins on page 10 of this prospectus. These risks include, among others,
that:
·
We have incurred losses in the past and may be unable to achieve or sustain profitability in the
future.
·
A significant portion of our revenue and accounts receivable is derived from a relatively limited
number of large clients and any loss of, or decrease in sales to, these clients could harm our results of operations.
·
Increases in driver compensation or difficulties attracting and retaining qualified drivers could
materially adversely affect our profitability and ability to maintain or grow our fleet.
·
If we are unable to complete development of our proprietary software and update and improve it,
demand for our services could decrease our market penetration and revenues.
·
We operate in a highly competitive and fragmented industry, and numerous competitive factors could
impair our ability to improve our profitability and materially adversely affect our results of operations.
·
Fluctuations in the price or availability of fuel or surcharge collection may increase our costs
of operation, which could materially adversely affect our profitability.
·
Our business is subject to general economic, business and regulatory factors affecting the truckload
industry that are largely beyond our control, any of which could have a material adverse effect on our results of operations.
·
Litigation against us could be costly and time-consuming to defend and could materially and adversely
affect our business, financial condition and results of operations.
·
COVID-19 has had and may continue to have a material adverse impact on us.
·
We are vulnerable to continued global economic uncertainty and volatility in financial markets.
·
We could need to raise additional capital in the future, and if we are unable to secure adequate
funds on terms acceptable to us, we could be unable to execute our business plan.
·
We are increasingly dependent on information technology, and our systems and infrastructure face
certain risks, including cybersecurity and data leakage risks.
·
If we lose our key management personnel, or are unable to attract or retain qualified personnel,
it could adversely affect our ability to execute our growth strategy.
·
Litigation or other proceedings or third-party claims of intellectual property infringement could
require us to spend significant time and money and could prevent us from operating or impact our stock price.
·
Recent U.S. tax legislation may materially affect our financial condition, results of operations
and cash flows.
·
Developments in labor and employment law and any unionizing efforts by employees could have a material
adverse effect on our results of operations.
·
Increases in collateral requirements that support our insurance program could materially adversely
affect our operations.
·
Our insurance policies are expensive and protect us only from some business risks, which will leave
us exposed to significant uninsured liabilities.
·
Raising additional capital may cause dilution to our existing stockholders and restrict our operations
or require us to relinquish certain intellectual property rights.
·
We may seek to grow our business through acquisitions or investments in new or complementary businesses,
products or technologies, through the licensing of products or technologies from third parties or other strategic alliances, and
the failure to manage acquisitions, investments, licenses or other strategic alliances, or the failure to integrate them with our
existing business, could have a material adverse effect on our operating results, dilute our stockholders' ownership, increase
our debt or cause us to incur significant expense.
·
Seasonality and the impact of weather and other catastrophic events affect our operations and profitability.
7
The
Offering
Common stock offered by us
shares.
Common stock to be outstanding after the offering
(1)
(or                  shares if the underwriters exercise their option to purchase additional shares in full).
Over-allotment option of common stock offered by us
The underwriters have a 45-day option to purchase up to                  additional shares of common stock.
Use of proceeds
We expect to receive net proceeds of approximately $                 million from this offering, assuming an initial public offering price of $                 per share (which is the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus) and no exercise of the underwriters' over-allotment option, and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. As of the date of this prospectus, we cannot specify with certainty all of the particular uses for the net proceeds to us from this offering. However, we currently intend to use the net proceeds to us from this offering for proprietary technology development, acquisitions, general corporate and working capital purposes. See the section of this prospectus titled "
Use of Proceeds
" beginning on page                 .
Lock-up agreements
We, all of our directors and officers and all of our stockholders have agreed with the underwriters, subject to certain exceptions, not to sell, transfer or dispose of, directly or indirectly, any of our common stock or securities convertible into or exercisable or exchangeable for our common stock for a period of (i) 180 days after the date of this prospectus in the case of our Company, (ii) 12 months after the date of this prospectus in the case of our directors and officers, and (iii) 180 days after the date of this prospectus in the case of our stockholders. For additional information regarding our arrangement with the underwriters, please see "
Underwriting
."
Risk factors
You should carefully consider the information set forth in this prospectus and, in particular, the specific factors set forth in the "
Risk Factors
" section beginning on page                  of this prospectus before deciding whether or not to invest in shares of our common stock.
Proposed listing
We
have applied to have our common stock listed on the Nasdaq Capital
Market under the symbol "               ,"
which listing is a condition to this offering.
The number of shares of common stock outstanding
immediately following this offering is based on 30,000,000 shares outstanding as of June 13, 2022.
(1) Excludes                 
shares underlying the underwriters' warrants (                 shares
is the underwriters' over-allotment option is exercised in full)
8
Summary
Combined Financial Data
The following table presents summary combined
financial and other data as of and for the periods indicated. You should read the following information together with our financial
statements and related notes contained elsewhere in this prospectus and the information under "Management's Discussion
and Analysis of Financial Condition and Results of Operations." While LeeWay Services, Inc. was incorporated on October 12,
2021 and acquired its subsidiaries on December 31, 2021, the combined statements present results of operations as though LeeWay
Services owned the subsidiaries for each of the periods presented.
The summary financial data for the years ended December
31, 2021 and 2020 are derived from our audited financial statements included elsewhere in this prospectus. The summary financial data
as of March 31, 2022 and for the three months ended March 31, 2022 and 2021 are derived from our unaudited financial statements included
elsewhere in this prospectus.
All financial statements included in this
prospectus are prepared and presented in accordance with generally accepted accounting principles in the United States ("GAAP").
The summary financial information is only a summary and should be read in conjunction with the historical financial statements
and related notes contained elsewhere herein. The financial statements contained elsewhere fully represent our financial condition
and operations; however, they are not indicative of our future performance.
(Unaudited)
Three Months
Ended March 31,
(Unaudited)
Three Months
Ended March 31,
(Audited)
Years Ended
December 31,
Statements of Operations Data
2022
2021
2021
2020
Revenue:
Transportation
$
12,082,377
$
4,451,434
$
27,316,857
$
13,471,155
Financing service
151,347
137,647
580,647
440,385
Total revenue
12,233,724
4,589,081
27,897,504
13,911,540
Cost of sales:
Transportation costs
9,633,516
3,901,746
23,377,335
11,773,778
Financing costs
71,961
29,655
147,934
105,171
Total cost of sales
9,705,477
3,931,401
23,525,269
11,878,949
Gross profit
2,528,247
657,680
4,372,235
2,032,591
Total operating expenses
1,627,862
604,131
3,230,803
1,892,787
Income from operations
900,385
53,549
1,141,432
139,804
Gain on PPP loan forgiveness
-
-
208,446
-
Other expense
-
(6,475)
(39,369
)
(3,851
)
Income before income tax
900,385
47,074
1,310,239
135,953
Income tax expense
-
-
352,818
77,375
Net income
$
900,385
$
47,074
$
957,421
$
58,578
Balance Sheet Data
March 31, 2022
As Adjusted
(1)
Cash
$
326,322
$
Total current assets
8,656,239
Total Assets
9,244,574
Total current liabilities
7,297,213
Total liabilities
8,814,108
Total stockholders' equity
430,466
Total liabilities and stockholders' equity
$
9,244,574
$
(1)
On a pro forma as adjusted
basis to give effect to the sale by us of                 
shares of common stock in this offering at an assumed public offering price of $                 per
share (which is the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus),
after deducting the estimated underwriting discounts and commissions and estimated offering expenses.
9
RISK
FACTORS
Our business is subject to many risks and
uncertainties, which may affect our future financial performance. If any of the events or circumstances described below occur,
our business and financial performance could be adversely affected, our actual results could differ materially from our expectations,
and the price of our stock could decline. The risks and uncertainties discussed below are not the only ones we face. There may
be additional risks and uncertainties not currently known to us or that we currently do not believe are material that may adversely
affect our business and financial performance. You should carefully consider the risks described below, together with all other
information included in this prospectus including our financial statements and related notes, before making an investment decision.
The statements contained in this prospectus that are not historic facts are forward-looking statements that are subject to risks
and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements.
If any of the following risks were to actually occur, our business, financial condition or results of operations could be harmed.
In that case, the trading price of our common stock could decline, and investors in our securities may lose all or part of their
investment.
Risks Related to Our Business and Operations
A significant portion of our revenue
and accounts receivable is derived from a relatively limited number of large clients and any loss of, or decrease in sales to,
these clients could harm our results of operations.
The Company has two major customers which
together represented approximately 74% of our revenue and 53% of our accounts receivable for fiscal year 2021, and one of which
represented approximately 59% of our revenue and 47% of our accounts receivable for fiscal year 2021. During the three months ended March 31, 2022, two customers
represented 85% of sales. We are likely to continue
to experience ongoing customer concentration, particularly if we are successful in attracting large enterprise clients. It is
possible that revenue from these clients, either individually or as a group, may not reach or exceed historical levels in any
future period. Although currently we have a strong relationship with each of these clients, were either of these customers to
move their business elsewhere it would have an adverse effect on the profitability of the Company. The Company has strong relationships
with both of these customers and believes its business with them will be ongoing into the foreseeable future.
We have incurred losses in the past and may be unable to achieve
or sustain profitability in the future.
The Company incurred losses from inception
through 2019, before generating profits in 2020, 2021 and the first quarter of 2022. There is no guarantee that the Company will
continue to be profitable going forward, as our operations and profitability may be adversely impacted by COVID-19 and the current
rate of inflation. Economic concerns may cause consumers to curtail spending, which could adversely impact both our transportation
and capital services groups.
Increases in driver compensation or difficulties
attracting and retaining qualified drivers could materially adversely affect our carriers' profitability and their ability
to maintain or grow their fleet.
Like many logistics companies, we are directly
impacted when our carriers experience substantial difficulty in attracting and retaining sufficient numbers of qualified drivers,
which includes the engagement of independent contractors. Our industry is subject to a shortage of qualified drivers. Such shortages
are exacerbated during periods of economic expansion, in which alternative employment opportunities, including in the construction
and manufacturing industries, which may offer better compensation and/or more time at home. Alternatively, during periods of economic
downturns, in which unemployment benefits might be extended and financing is limited for independent contractors who seek to purchase
equipment, or the scarcity or growth of loans for students who seek financial aid for driving school. Regulatory requirements,
including those related to safety ratings, Electronic Logging Device ("ELD and ELDs") and hours-of-service changes
and an improved economy could further reduce the pool of eligible drivers or force our carriers to increase driver compensation
to attract and retain drivers. We have seen evidence that stricter hours-of-service regulations adopted by the Department of Transportation
(the "DOT") in the past have tightened, and, to the extent new regulations are enacted, may continue to tighten, the
market for eligible drivers. The lack of adequate tractor parking along some U.S. highways and congestion caused by inadequate
highway funding may make it more difficult for drivers to comply with hours-of-service regulations and cause added stress for drivers,
further reducing the pool of eligible drivers. We believe that the required implementation of ELDs in December 2017 and enforcement
thereof in April 2018 has and may further tighten such market. A shortage of qualified drivers and intense competition for drivers
from other trucking companies will create difficulties in maintaining or increasing the number of drivers available to our carriers
and may restrain their ability to engage independent contractors. Some of our carriers have implemented driver pay increases to
address this shortage. The compensation they offer their drivers and independent contractor expenses are subject to market conditions,
and they may find it necessary to further increase driver compensation. They may also become subject to increased independent contractor
expenses in future periods, which could materially adversely affect our growth and profitability.
10
In addition, our carriers suffer from a high
turnover rate of drivers. This high turnover rate requires them to spend significant resources recruiting a substantial number
of drivers to operate existing revenue equipment and subjects them to a high degree of risk with respect to driver shortages. Our
carriers use of team-driven tractors in their expedited service requires two drivers per tractor, further increasing the number
of drivers our team must recruit and retain. The carriers also employ driver hiring standards, which could further reduce the pool
of available drivers from which they hire. If they are unable to continue to attract and retain a sufficient number of drivers,
they could be forced to, among other things, continue to adjust their compensation packages or operate with fewer tractors and
face difficulty meeting shipper demands, either of which could materially adversely affect our growth and profitability.
If we are unable to complete development
of our proprietary software and update and improve it, demand for our services could decrease our market penetration and revenues.
We are counting on our proprietary software,
which will automate many of the manual steps in the delivery and invoicing process, to provide us with a competitive advantage.
To keep pace with the changing technology and marketplace evolution we must continually update and enhance our software offering.
Should our software not perform as designed, or should defects be found in our software, additional resources must be committed
to identifying and correcting the problems. Failure to timely identify and rectify problems could result in clients electing to
take their business to a competitor and would result in loss of revenue and market share.
If our carriers do not meet our needs or expectations, or
those of our clients, our business could suffer.
The success of our business depends to
a large extent on our relationships with clients and our reputation for providing high-quality technology enabled transportation
and logistics services. We do not own or control the transportation assets that deliver our clients' freight, and we do not employ
the people directly involved in delivering the freight. We rely on independent third-parties to provide truck load, light truck
load, small parcel, inter-modal, domestic air, expedited and international services and to report certain information to us, including
information relating to delivery status and freight claims. This reliance could cause delays in providing our clients with important
service data and in the financial reporting of certain events, including recognizing revenue and recording claims. If we are unable
to secure sufficient transportation services to meet our commitments to our clients, our operating results could be adversely affected,
and our clients could switch to our competitors temporarily or permanently. Many of these risks are beyond our control and difficult
to anticipate, including:
•
changes in rates charged by transportation providers;
•
supply shortages in the transportation industry, particularly among truckload carriers;
•
interruptions in service or stoppages in transportation as a result of labor disputes; and
•
changes in regulations impacting transportation.
If any of the third parties we rely on
do not meet our needs or expectations, or those of our clients, our professional reputation may be damaged and our business could
be harmed.
Competition could substantially impair our business and our
operating results.
Competition in the transportation services
industry is intense. We compete against other non-asset-based logistics companies as well as asset-based logistics companies; freight
forwarders that dispatch shipments via asset-based carriers; carriers offering logistics services; internal shipping departments
at companies that have substantial transportation requirements; large business process outsourcing (BPO) service providers; and
smaller, niche service providers that provide services in a specific geographic market, industry segment or service area. We also
compete against carriers' internal sales forces and shippers' transportation departments. At times, we buy transportation services
from our competitors. Historically, competition has created a downward pressure on freight rates, and continuation of this rate
pressure may adversely affect the Company's revenue and income from operations.
11
In addition, a software platform and database
similar to ours could be created over time by a competitor with sufficient financial resources and comparable experience in the
transportation services industry. If our competitors are able to offer comparable services, we could lose clients, and our market
share and profit margin could decline. Our competitors may also establish cooperative relationships to increase their ability to
address client needs. Increased competition may lead to revenue reductions, reduced profit margins or a loss of market share, any
one of which could harm our business.
If we are unable to expand the
number of our sales representatives and agents, or if a significant number of our sales representatives and agents leaves us, our
ability to increase our revenue could be negatively impacted.
Our ability to expand our business will depend,
in part, on our ability to attract additional sales representatives and agents with established client relationships. Competition
for qualified sales representatives and agents can be intense, and we may be unable to hire such persons. Any difficulties we experience
in expanding the number of our sales representatives and agents could have a negative impact on our ability to expand our client
base, increase our revenue and continue our growth.
In addition, we must retain our current sales
representatives and agents and properly incentivize them to obtain new clients and maintain existing client relationships. If a
significant number of our sales representatives and agents leave us, our revenue could be negatively impacted. We have entered
into agreements with our sales representatives and agents that contain non-compete provisions to mitigate this risk, but we may
need to litigate to enforce our rights under these agreements, which could be time-consuming, expensive, and ineffective. A significant
increase in the turnover rate among our current sales representatives and agents could also increase our recruiting costs and decrease
our operating efficiency, which could lead to a decline in the demand for our services.
12
If our services do not achieve widespread commercial acceptance,
our business will suffer.
Many companies coordinate the procurement and
management of their logistics needs with their own employees using a combination of telephone, facsimile, e-mail, and the Internet.
Growth in the demand for our services depends on the adoption of our technology-enabled transportation and logistics services.
We may not be able to persuade prospective clients to change their traditional transportation management processes. Our business
could suffer if our services are not accepted by the marketplace.
We may not be able to develop or implement
new systems, procedures, and controls that are required to support the anticipated growth in our operations.
Our revenue increased to $27.9 million
for the year ended December 31, 2021 from $13.9 million for the year ended December 31, 2020, representing an annual growth
rate of 101%, and for the first three months of 2022 it grew 166% over the same period in 2021. This growth is a considerable escalation
from the 68% growth experienced for the year ended December 31, 2020 over the $8.3 million revenue for the year ended December
31, 2019. Continued growth at the rates currently experienced could place a significant strain on our ability to:
•
recruit, motivate and retain qualified sales representatives and agents, carrier representatives and management personnel;
•
develop and improve our internal administrative infrastructure and execution standards; and
•
expand and maintain the operation of our technology infrastructure in a manner that preserves a quality customer experience.
To manage our growth, we must implement and
maintain proper operational and financial controls and systems. Further, we will need to manage our relationships with various
clients and carriers. We cannot give any assurance that we will be able to develop and implement, on a timely basis, the systems,
procedures, and controls required to support the growth in our operations or effectively manage our relationships with various
clients and carriers. If we are unable to manage our growth, our business, operating results, and financial condition could be
adversely affected.
We have a long selling cycle to secure
a new enterprise contract and a long implementation cycle, which require significant investments of resources.
We typically face a long selling cycle
to secure a new enterprise contract, which requires significant investment of resources and time by both our clients and us. Before
committing to use our services, potential clients require us to spend time and resources educating them on the value of our services
and assessing the feasibility of integrating our systems and processes with theirs. Our clients then evaluate our services before
deciding whether to use them. Therefore, our enterprise selling cycle, which can take six months or more, is subject to many risks
and delays over which we have little control, including our clients' decisions to choose alternatives to our services (such as
other providers or in-house resources) and the timing of our clients' budget cycles and approval processes.
Implementing our enterprise services,
which can take from one to six months, involves a significant commitment of resources over an extended period of time from both
our clients and us. Depending on the scope and complexity of the processes being implemented, these time periods may be significantly
longer. Our clients and future clients may not be willing or able to invest the time and resources necessary to implement our services,
and we may fail to close sales with potential clients to which we have devoted significant time and resources, which could have
a material adverse effect on our business, results of operations, financial condition and cash flows, as we do not recognize significant
revenue until after we have completed the implementation phase.
Our clients may terminate their relationships
with us on short notice with limited or no penalties, and our clients are not obligated to spend a minimum amount with us.
Our transactional clients use our
services on a shipment-by-shipment basis rather than under long-term contracts. These clients have no obligation to continue
using our services and may stop using them at any time without penalty or with only limited penalties. Our contracts with our
two largest customers have a one-year term with automatic one-year renewals. Our contract with our largest customer may be
terminated by either party at any time with 30 days' notice. In addition, our largest customer may terminate its
contract with us without 30 days' notice in certain circumstances that call into question our ability to duly perform
our obligations under the contract, including breaches of the representations and warranties by the Company, or if the
Company becomes insolvent, or files for bankruptcy. Our contract with our second largest customer may be terminated by
either party at any time with 30 days' notice and after the initial one-year term.
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The volume and type of services we provide
each client may vary from year to year and could be reduced if the client were to change its outsourcing or shipping strategy.
Our enterprise clients generally are not obligated to spend any particular amount with us, although our enterprise contracts are
typically exclusive with respect to point of origin or one or more modes of transportation, meaning that the client is obligated
to use us if it ships from the point of origin or uses those modes. These contractual exclusivity provisions help ensure, but do
not guarantee, that we receive a significant portion of the amount that our enterprise clients spend on transportation in the applicable
mode or modes or from the applicable point of origin. In our experience, compliance with such provisions varies from client to
client and over time. Failure to comply with these exclusivity provisions may adversely affect our revenue.
If a significant number of our transactional
or enterprise clients elect to terminate or not to renew their engagements with us, or if the volume of their shipping orders decreases,
our business, operating results and financial condition could suffer. If we are unable to renew our enterprise contracts at favorable
rates, our revenue may decline.
Our engagement of independent contractors
to provide our capacity exposes us to risks that are largely outside of our control.
Our contracts with independent contractors
are governed by the federal leasing regulations, which impose specific requirements on us and the independent contractors. If more
stringent federal leasing regulations are adopted, potential independent contractors could be deterred from becoming independent
contractor drivers, which could materially adversely affect our goal of maintaining our current fleet levels of independent contractors.
Pursuant to our fuel surcharge program, we
pay independent contractors we contract with a fuel surcharge that increases proportionally with increases in fuel prices. A significant
increase or a rapid fluctuation in fuel prices could cause our costs under this program to be higher than the revenue we receive
under our customer fuel surcharge programs.
We anticipate providing financing to certain
qualified independent contractors through factoring their invoices. If we are unable to provide such financing in the future, due
to liquidity constraints or other restrictions, we may experience a decrease in the number of independent contractors we are able
to engage. Further, if independent contractors we engage default, or otherwise terminate the financing arrangement, and we are
unable to find a replacement independent contractor or seat the tractor with a company driver, we may incur losses on amounts owed
to us with respect to the tractor.
We operate in a highly competitive and
fragmented industry, and numerous competitive factors could impair our ability to improve our profitability and materially adversely
affect our results of operations.
Numerous competitive factors could impair our ability to improve
our profitability and materially adversely affect our results of operations, including:
·
We compete with many other logistics companies for truckload carriers of varying sizes and services (including intermodal) and, to a lesser extent, with (i) less-than-truckload carriers, (ii) railroads, and (iii) other transportation and brokerage companies, several of which have access to more equipment and greater capital resources than we do;
·
many of our competitors periodically reduce their freight rates to gain business, especially during times of reduced growth in the economy, which may limit our ability to maintain or increase freight rates, to maintain or expand our business, or may require us to reduce our freight rates in order to remain competitive and keep our carriers productive;
·
our carriers may have difficulty recruiting and retaining drivers because our competitors offer better compensation or working conditions;
·
some of our larger customers are other transportation and logistics companies and may also operate their own private trucking fleets, and they may decide to transport more of their own freight;
·
some shippers have reduced or may reduce the number of carriers they use by selecting preferred carriers as approved service providers or by engaging dedicated providers, and we may not be selected for engagement;
·
many customers periodically solicit bids from multiple carriers for their shipping needs and this process may depress freight rates or result in a loss of business to competitors;
·
consolidation in the trucking industry may create other large carriers with greater financial resources and other competitive advantages, and we may have difficulty competing with them;
·
advances in technology may require us to increase investments in order to remain competitive, and our customers may not be willing to accept higher freight rates to cover the cost of these investments;
14
·
our competitors may have better safety records than our carriers or a perception of better safety records;
·
higher fuel prices and, in turn, higher fuel surcharges to our customers may cause some of our customers to consider freight transportation alternatives, including rail transportation;
·
competition from freight brokerage companies may materially adversely affect our customer relationships and freight rates; and
·
economies of scale that procurement aggregation providers may pass on to smaller carriers may improve such carriers' ability to compete with us.
Fluctuations in the price or availability
of fuel or surcharge collection may increase our costs of operation, which could materially adversely affect our profitability.
Fuel is one of our carriers' largest
operating expenses. Diesel fuel prices fluctuate greatly due to factors beyond our control, such as political events, terrorist
activities, armed conflicts, commodity futures trading, depreciation of the dollar against other currencies and hurricanes and
other natural or man-made disasters, each of which may lead to an increase in the cost of fuel. Fuel prices also are affected by
the rising demand for fuel in developing countries, including China. Fuel prices could be materially adversely affected by the
use of crude oil and oil reserves for purposes other than fuel production and by diminished drilling activity. Such events may
lead not only to increases in fuel prices, but also to fuel shortages and disruptions in the fuel supply chain. Because our operations
are dependent upon diesel fuel, significant diesel fuel cost increases, shortages, or supply disruptions would materially adversely
affect our business, financial condition, and results of operations.
Fuel also is subject to regional pricing differences
and is often more expensive on the West Coast of the United States, where we have operations. Increases in fuel costs, to the extent
not offset by rate per mile increases or fuel surcharges, have a material adverse effect on our operations and profitability. While
we have fuel surcharge programs in place with a majority of our customers, which historically have helped us offset the majority
of the negative impact of rising fuel prices associated with loaded or billed miles, we also incur fuel costs that cannot be recovered
even with respect to customers with which we maintain fuel surcharge programs, such as those associated with non-revenue generating
miles, the time when our engines are idling, and fuel for refrigeration units on our refrigerated trailers. Moreover, the terms
of each customer's fuel surcharge program vary, and certain customers have sought to modify the terms of their fuel surcharge programs
to minimize recoverability for fuel price increases. In addition, because our fuel surcharge recovery lags behind changes in fuel
prices, our fuel surcharge recovery may not capture the increased costs we pay for fuel, especially when prices are rising. This
could lead to fluctuations in our levels of reimbursement, which have occurred in the past. There can be no assurance that
such fuel surcharges can be maintained indefinitely or will be sufficiently effective.
Our business depends on compliance with
many government regulations, which could lead to increased costs.
Transportation of goods is subject to a number
of governmental regulations. These regulations and requirements are subject to change based on new legislation and regulatory initiatives,
which could affect the economics of the transportation industry by requiring changes in operating practices of influencing the
demand for, and the cost of providing, providing transportation services. The passage of new or the modification of existing regulations
could increase our operating costs. No assurances can be given that we will be able to pass these increased costs on to our clients
in the form of rate increases or surcharges.
Developments in labor and employment
law and any unionizing efforts by employees could have a material adverse effect on our results of operations.
We face the risk that Congress, federal agencies,
or one or more states could approve legislation or regulations significantly affecting our businesses and our relationship with
our employees, such as the previously proposed federal legislation referred to as the Employee Free Choice Act, which would have
substantially liberalized the procedures for union organization. None of our domestic employees are currently covered by a collective
bargaining agreement, but any attempt by our employees to organize a labor union could result in increased legal and other associated
costs. Additionally, given the National Labor Relations Board's "speedy election" rule, our ability to timely
and effectively address any unionizing efforts would be difficult. If we entered into a collective bargaining agreement with our
domestic employees, the terms could materially adversely affect our costs, efficiency, and ability to generate acceptable returns
on the affected operations.
Our business is subject to general economic,
business, and regulatory factors affecting the truckload industry that are largely beyond our control, any of which could have
a material adverse effect on our results of operations.
The truckload industry is highly cyclical,
and our business is dependent on several factors that may have a negative impact on our results of operations, many of which are
beyond our control. We believe that some of the most significant of these factors are economic changes that affect supply and demand
in transportation markets, such as:
·
changes in customers' inventory levels and practices, including shrinking product/package sizes, and in the availability of funding for their working capital;
15
·
excess truck capacity in comparison with shipping demand;
·
driver shortages and increases in drivers' compensation;
·
industry compliance with ongoing regulatory requirements;
·
downturns in customers' business cycles, including declines resulting from changes in consumer spending.
Economic conditions that decrease shipping
demand or increase the supply of available tractors and trailers can exert downward pressure on rates and equipment utilization,
thereby decreasing asset productivity. The risks associated with these factors are heightened when the U.S. economy is weakened.
Some of the principal risks during such times are as follows:
·
we may experience low overall freight levels, which may impair our asset utilization;
·
certain customers may face credit issues and cash flow problems that may lead to payment delays, increased credit risk, bankruptcies and other financial hardships that could result in even lower freight demand and may require us to increase our allowance for doubtful accounts;
·
freight patterns may change as supply chains are redesigned, resulting in an imbalance between our capacity and our customers' freight demand;
·
customers may bid out freight or select competitors that offer lower rates in an attempt to lower their costs, and we might be forced to lower our rates or lose freight;
·
we may be forced to accept more loads from freight brokers, where freight rates are typically lower, or may be forced to incur more non-revenue generating miles to obtain loads; and
·
we may experience a lack of access to current sources of credit or lack of lender access to capital, leading to an inability to secure financing on satisfactory terms, or at all.
We are also subject to cost increases outside
our control that could materially reduce our profitability if we are unable to increase our rates sufficiently. Such cost increases
include, but are not limited to, increases in fuel prices, driver and office employee wages, purchased transportation costs, interest
rates, taxes, tolls, license and registration fees, insurance, revenue equipment and related maintenance, tires and other components,
and healthcare and other benefits for our employees. Further, we may not be able to appropriately adjust our costs to changing
market demands. In order to maintain high variability in our business model, it is necessary to adjust staffing levels to changing
market demands. In periods of rapid change, it is more difficult to match our staffing level to our business needs.
In addition, events outside our control, such
as deterioration of U.S. transportation infrastructure and reduced investment in such infrastructure, strikes or other work
stoppages at our facilities or at customer, port, border or other shipping locations, or actual or threatened armed conflicts or
terrorist attacks, efforts to combat terrorism, military action against a foreign state or group located in a foreign state or
heightened security requirements could lead to wear, tear and damage to our equipment, driver dissatisfaction, reduced economic
demand, reduced availability of credit, increased prices for fuel, or temporary closing of the shipping locations or U.S. borders.
Such events or enhanced security measures in connection with such events could impair our operating efficiency and productivity
and result in higher operating costs.
Changing impacts of regulatory measures could
impair our operating efficiency and productivity, decrease our revenues and profitability and result in higher operating costs.
In addition, declines in the resale value of revenue equipment can affect our profitability and cash flows. From time to time,
various U.S. federal, state or local taxes are also increased, including taxes on fuel. We cannot predict whether, or in what form,
any such tax increase applicable to us will be enacted, but such an increase could materially adversely affect our profitability.
Increases in collateral requirements that support our insurance
program could materially adversely affect our operations.
To comply with certain state insurance regulatory
requirements, cash and/or cash equivalents must be paid to certain of our third-party insurers, to state regulators. Significant
future increases in the amount of collateral required by third-party insurance carriers and regulators would reduce our liquidity
and could materially adversely affect our business, financial condition, results of operations and capital resources.
16
Geopolitical
conditions, including trade disputes and direct or indirect acts of war or terrorism, could have an adverse effect on our operations
and financial results.
Recently, Russia
initiated significant military action against Ukraine. In response, the U.S. and certain other countries imposed significant sanctions
and export controls against Russia, Belarus, and certain individuals and entities connected to Russian or Belarusian political,
business, and financial organizations, and the U.S. and certain other countries could impose further sanctions, trade restrictions,
and other retaliatory actions should the conflict continue or worsen. It is not possible to predict the broader consequences of
the conflict, including related geopolitical tensions, and the measures and retaliatory actions taken by the U.S. and other countries
in respect thereof as well as any counter measures or retaliatory actions by Russia or Belarus in response, including, for example,
potential cyberattacks or the disruption of energy exports, is likely to cause regional instability, geopolitical shifts, and could
materially adversely affect regional economies and the global economy. The situation remains uncertain, and it is difficult to
predict the impact of any of the foregoing. We do not conduct any business overseas. However, the conflict has disrupted the world-wide
supply of petroleum products, resulting in increased fuel costs, which has a significant impact on our business. Fuel price fluctuations
have long been a significant cost factor in the transportation business and while we can mitigate the direct impact of increased
fuel costs on our operating expenses by passing these costs on to our customers via a fuel surcharge, increased costs to our customers
could ultimately lead to a decline in the demand for our services by our customers and thus reduce our sales and earnings, impair
our ability to raise additional capital when needed on acceptable terms, if at all, or otherwise adversely affect our business,
financial condition, and results of operations.
If we sustain a cyber-attack or suffer
privacy or data security breaches that disrupt our information systems or operations or result in the dissemination of sensitive
personal or confidential information, we could suffer increased costs, exposure to significant liability, reputational harm, loss
of business, and other serious negative consequences.
Our information technology systems and safety
control systems are subject to a growing number of threats from computer programmers, hackers, and other adversaries that may be
able to penetrate our network security and misappropriate our confidential information or that of third parties, create system
disruptions, or cause damage, security issues, or shutdowns. They also may be able to develop and deploy viruses, worms, and other
malicious software programs that attack our systems or otherwise exploit security vulnerabilities. Because the techniques used
to circumvent, gain access to, or sabotage security systems, can be highly sophisticated and change frequently, they often are
not recognized until launched against a target, and may originate from less regulated and remote areas around the world. We may
be unable to anticipate these techniques or implement adequate preventive measures, resulting in potential data loss and damage
to our systems. Our systems are also subject to compromise from internal threats such as improper action by employees, including
malicious insiders, or by vendors, counterparties, and other third parties with otherwise legitimate access to our systems. Our
policies, employee training (including phishing prevention training), procedures, and technical safeguards may not prevent all
improper access to our network or proprietary or confidential information by employees, vendors, counterparties, or other third
parties. Our facilities may also be vulnerable to security incidents or security attacks, acts of vandalism or theft, misplaced
or lost data, human errors, or other similar events that could negatively affect our systems, and our and our members', data.
Additionally, our third-party service providers who process information on our behalf may cause security breaches for which we
are responsible.
Seasonality and the impact of weather and other catastrophic
events may affect our operations and profitability.
Our carrier productivity decreases during
the winter season because of inclement weather impeding operations, and some shippers reduce their shipments after the winter holiday
season. Revenue may also be adversely affected by inclement weather and holidays since revenue is directly correlated with available
working days of shippers. At the same time, operating expense increases and fuel efficiency declines because of engine idling and
harsh weather which leads to higher accident frequency, increased claims and higher equipment repair expenditures. We also may
suffer from weather-related or other unforeseen events such as tornadoes, hurricanes, blizzards, ice storms, floods, fires, earthquakes,
and explosions. These events may disrupt fuel supplies, increase fuel costs, disrupt freight shipments or routes, affect regional
economies, damage, or destroy our assets or adversely affect the business or financial condition of our customers, any of which
could materially adversely affect our results of operations or make our results of operations more volatile.
17
Litigation against us could be costly
and time-consuming to defend and could materially and adversely affect our business, financial condition, and results of operations.
We are from time to time involved in various
claims, litigation matters and regulatory proceedings incidental to our business, including claims for damages arising out of the
use of our services and claims relating to intellectual property matters, employment matters, commercial disputes, competition,
sales and trading practices, environmental matters, personal injury, and insurance coverage. Some of these lawsuits include claims
for punitive as well as compensatory damages. The defense of these lawsuits could divert our management's attention, and
we could incur significant expenses in defending these lawsuits. In addition, we could be required to pay damage awards or settlements
or become subject to unfavorable equitable remedies. Moreover, any insurance or indemnification rights that we could have may be
insufficient or unavailable to protect us against potential loss exposures.
If we lose our key management personnel,
or are unable to attract or retain qualified personnel, it could adversely affect our ability to execute our growth strategy.
Our success is dependent, in part, upon our
ability to hire and retain management, engineers, marketing and sales personnel, and technical, research and other personnel who
are in high demand and are often subject to competing employment opportunities. Our success will depend on our ability to retain
our current personnel and to attract and retain qualified like personnel in the future. Competition for senior management, engineers,
marketing and sales personnel and other specialized technicians is intense and we may not be able to retain our personnel. If we
lose the services of any executive officers or key employees, our ability to achieve our business objectives could be harmed or
delayed, which could have a material adverse effect on our daily operations, operating cash flows, results of operations and ultimately
share price. In general, our officers could terminate their employment at any time without notice for any reason.
We are vulnerable to continued global
economic uncertainty and volatility in financial markets.
Our business is highly sensitive to changes
in general economic conditions as a seller of services. Financial markets inside the United States and internationally have experienced
extreme disruption in recent times, including, among other things, extreme volatility in security prices, severely diminished liquidity
and credit availability, and declining valuations of investments. We believe these disruptions are likely to have an ongoing adverse
effect on the world economy. A continuing economic downturn and financial market disruptions could have a material adverse effect
on our business, financial condition, and results of operations, including:
·
reducing demand for our services, increasing cancellations, and resulting in longer sales cycles and slower adoption of new technologies;
·
increasing the difficulty of collecting accounts receivable; and
·
increasing price competition in our served markets.
COVID-19 has had and may continue
to have a material adverse impact on us.
In December 2019, a novel strain of coronavirus
(COVID-19) was reported to have surfaced in Wuhan, China. The virus has since spread to over 150 countries and every state in the
United States. On January 30, 2020, the World Health Organization declared the outbreak of Coronavirus a "Public Health Emergency
of International Concern." On March 11, 2020, the World Health Organization declared the outbreak a pandemic, and on March
13, 2020, the United States declared a national emergency.
18
The COVID-19 pandemic,
as well as the corresponding governmental response has had significant negative effects on the majority of the US economy and has
adversely affected the entire transportation market. The consequences of the outbreak and impact on the economy continues to evolve
and the full extent of the impact is uncertain as of the date of this prospectus. The outbreak has already had, and continues to
have, a material adverse effect on our business, operating results and financial condition and has significantly disrupted our
operations.
The COVID-19 pandemic
has also caused adverse effects on general commercial activity and the global economy, which has led to an economic slowdown and
recession, and which has adversely affected our business, operating results or financial condition. The COVID-19 pandemic
has also led to and could continue to lead to severe disruption and volatility in the global capital markets, which could increase
our cost of future capital and adversely affect our ability to access the capital markets in the future.
As the global outbreak
of COVID-19 continues to rapidly evolve, it could continue to materially and adversely affect our revenues, cash flows,
business, financial condition, results of operations and prospects for an indeterminate period of time. Notwithstanding recent
developments and implementations with respect to vaccines for COVID-19, we are unable to accurately predict the full impact that
the ongoing pandemic will have due to numerous factors that are not within our control, including its duration and severity. Although
stay-at-home and shelter-in-place orders and business operation restrictions have been lifted in most states in
the US, there is no guarantee that such orders and restrictions will not be reimplemented in the near future. Travel restrictions,
supply chain disruptions, employee illness or quarantines, and other extended periods of interruption to our business have resulted
and could continue to result in disruptions to our operations. These interruptions have had and could continue to have adverse
impacts on the growth of our business and have caused and could continue to cause us to cease or delay operations. Any worsening
of the COVID-19 pandemic could result in additional material adverse impacts on our business, financial condition, results
of operations and prospects.
If the current pace of the pandemic cannot
be slowed and the spread of the virus is not contained, our business operations could be further delayed or interrupted. We expect
that government and health authorities may announce new or extend existing restrictions, which could require us to make further
adjustments to our operations to comply with any such restrictions. We may also experience limitations in employee resources. In
addition, our operations could be disrupted if any of our employees were suspected of having the virus, which could require quarantine
of some or all such employees or closure of our facilities for disinfection. The duration of any business disruption cannot be
reasonably estimated at this time but may materially affect our ability to operate our business and result in additional costs.
Although it is difficult to predict the effect
and ultimate impact of the COVID-19 pandemic on our business, the impact of COVID19 could adversely affect our results of operations,
financial condition, and cash flows in fiscal year 2022.
We could need to raise additional capital in the future, and
if we are unable to secure adequate funds on terms acceptable to us, we could be unable to execute our business plan.
To remain competitive, we must continue to
make significant investments in the development of our services, the expansion of our sales and marketing activities, and the expansion
of our operating and management infrastructure as we increase sales domestically. If cash generated from our operations is insufficient
to fund such growth, we could be required to raise additional funds through the issuance of equity or debt securities in the public
or private markets, or through a collaborative arrangement or sale of assets. Additional financing opportunities may not be available
to us, or if available, may not be on favorable terms. The availability of financing opportunities will depend, in part, on market
conditions, and the outlook for our business. Any future issuance of equity securities or securities convertible into equity securities
could result in substantial dilution to our stockholders, and the securities issued in such a financing could have rights, preferences,
or privileges senior to those of our common stock. In addition, if we raise additional funds through debt financing, we could be
subject to debt covenants that place limitations on our operations. We could not be able to raise additional capital on reasonable
terms, or at all, or we could use capital more rapidly than anticipated. If we cannot raise the required capital when needed, we
may not be able to satisfy the demands of existing and prospective customers, we could lose revenue and market share and we may
have to curtail our capital expenditures.
The following factors, among others, could
affect our ability to obtain additional financing on favorable terms, or at all:
·
our results of operations;
·
general economic conditions and conditions in the transportation industry;
·
the perception of our business in the capital markets;
·
making capital improvements to improve our infrastructure;
·
hiring qualified management and key employees;
19
·
responding to competitive pressures;
·
complying with regulatory requirements, if any;
·
our ratio of debt to equity;
·
our financial condition;
·
our business prospects; and
·
interest rates.
If we are unable to obtain sufficient capital
in the future, we could have to curtail our capital expenditures. Any curtailment of our capital expenditures could result in a
reduction in net revenue, reduced quality of our services, or harm to our reputation, and could have a material adverse effect
on our business, financial condition and results of operations.
Recent U.S.
tax legislation may materially affect our financial condition, results of operations, and cash flows.
The Tax Cuts and Jobs
Act (the "Tax Act") has significantly changed the U.S. federal income taxation of U.S. businesses, including by reducing
the U.S. corporate income tax rate, limiting interest deductions, permitting immediate expensing of certain capital expenditures,
modifying, or repealing many business deductions and credits.
The Coronavirus Aid,
Relief, and Economic Security Act (the "CARES Act") modifies certain provisions of the Tax Act, including increasing
the amount of interest expense that may be deducted.
The Tax Act as modified
by the CARES Act is unclear in many respects and could be subject to potential amendments and technical corrections, as well as
interpretations and implementing regulations by the Treasury and IRS, any of which could lessen or increase certain adverse impacts
of the legislation. In addition, it is unclear how these U.S. federal income tax changes will affect state and local taxation,
which often uses federal taxable income as a starting point for computing state and local tax liabilities. Our analysis and interpretation
of this legislation is preliminary and ongoing and there may be material adverse effects resulting from the legislation that we
have not yet identified. While some of the changes made by the tax legislation may adversely affect us, other changes may be beneficial.
We continue to work with our tax advisors and auditors to determine the full impact that the recent tax legislation will have on
us. We urge our investors to consult with their legal and tax advisors with respect to such legislation and its potential effect
on an investment in our common stock.
Our insurance policies are expensive
and protect us only from some business risks, which will leave us exposed to significant uninsured liabilities.
We do not carry insurance for all categories
of risk that our business may encounter. Some of the policies we currently maintain include general liability, employee benefits
liability, property, umbrella, errors and omissions, workers' compensation, products liability and directors' and officers'
insurance. We do not know, however, if these policies will provide us with adequate levels of coverage. Any significant uninsured
liability may require us to pay substantial amounts, which would adversely affect our cash position and results of operations.
Risks Related to
Our Intellectual Property
Litigation or other proceedings or third-party
claims of intellectual property infringement could require us to spend significant time and money and could prevent us from operating
or impact our stock price.
Our commercial success will depend in part
on not infringing the trademarks or violating the other proprietary rights of others. Any litigation or claim against us, even
those without merit, may cause us to incur substantial costs, and could place a significant strain on our financial resources,
divert the attention of management from our core business and harm our reputation. If we are found to infringe the intellectual
property rights of third parties, we could be required to pay substantial damages (which may be increased up to three times of
awarded damages) and/or substantial royalties and could be prevented from selling our products unless we obtain a license or are
able to redesign our products to avoid infringement. Any such license may not be available on reasonable terms, if at all.
20
If we are unable to protect the confidentiality
of our trade secrets, our business and competitive position could be harmed.
In addition to trademark protection, we also
rely upon copyright and trade secret protection. In addition to contractual measures, we try to protect the confidential nature
of our proprietary information using commonly accepted physical and technological security measures. Such measures may not, for
example, in the case of misappropriation of a trade secret by an employee or third party with authorized access, provide adequate
protection for our proprietary information. Our security measures may not prevent an employee or consultant from misappropriating
our trade secrets and providing them to a competitor, and recourse we take against such misconduct may not provide an adequate
remedy to protect our interests fully. Enforcing a claim that a party illegally disclosed or misappropriated a trade secret can
be difficult, expensive, and time-consuming, and the outcome is unpredictable. Even though we use commonly accepted security measures,
trade secret violations are often a matter of state law, and the criteria for protection of trade secrets can vary among different
jurisdictions. In addition, trade secrets may be independently developed by others in a manner that could prevent legal recourse
by us. If any of our confidential or proprietary information, such as our trade secrets, were to be disclosed or misappropriated,
or if any such information was independently developed by a competitor, our business and competitive position could be harmed.
Third parties may assert that our employees
or consultants have wrongfully used or disclosed confidential information or misappropriated trade secrets.
We employ individuals who previously worked
with other companies, including our competitors or potential competitors. Although we try to ensure that our employees and consultants
do not use the proprietary information or know-how of others in their work for us, we may be subject to claims that we or our employees,
consultants or independent contractors have inadvertently or otherwise used or disclosed intellectual property, including trade
secrets or other proprietary information, of a former employer or other third party. Litigation may be necessary to defend against
these claims. If we fail in defending any such claims or settling those claims, in addition to paying monetary damages or a settlement
payment, we may lose valuable intellectual property rights or personnel. Even if we are successful in defending against such claims,
litigation could result in substantial costs and be a distraction to management and other employees.
We are increasingly dependent on information
technology, and our systems and infrastructure face certain risks, including cybersecurity and data leakage risks.
Significant disruptions to our information
technology systems or breaches of information security could adversely affect our business. In the ordinary course of business,
we collect, store, and transmit large amounts of confidential information, and it is critical that we do so in a secure manner
to maintain the confidentiality and integrity of such information. We have also outsourced significant elements of our information
technology infrastructure; as a result, we manage independent vendor relationships with third parties who are responsible for maintaining
significant elements of our information technology systems and infrastructure and who may or could have access to our confidential
information. The size and complexity of our information technology systems make such systems potentially vulnerable to service
interruptions and security breaches from inadvertent or intentional actions by our employees, partners, or vendors. These systems
are also vulnerable to attacks by malicious third parties and may be susceptible to intentional or accidental physical damage to
the infrastructure maintained by us or by third parties. Maintaining the secrecy of confidential, proprietary and/or trade secret
information is important to our competitive business position. While we have taken steps to protect such information and have invested
in systems and infrastructures to do so, there can be no guarantee that our efforts will prevent service interruptions or security
breaches in our systems or the unauthorized or inadvertent wrongful use or disclosure of confidential information that could adversely
affect our business operations or result in the loss, dissemination, or misuse of critical or sensitive information. A breach our
security measures or the accidental loss, inadvertent disclosure, unapproved dissemination, misappropriation or misuse of trade
secrets, proprietary information, or other confidential information, whether as a result of theft, hacking, fraud, trickery or
other forms of deception, or for any other cause, could enable others to produce competing services, use our proprietary technology
or information, and/or adversely affect our business position. Further, any such interruption, security breach, loss or disclosure
of confidential information could result in financial, legal, business, and reputational harm to us and could have a material adverse
effect on our business, financial position, results of operations and/or cash flow.
Risks Related to this Offering and Ownership
of our Common Stock
Our management will have broad discretion
over the use of any net proceeds from this offering and you may not agree with how we use the proceeds, and the proceeds may not
be invested successfully.
Our management will have broad discretion as
to the use of any net proceeds from this offering and could use them for purposes other than those contemplated at the time of
this offering. Accordingly, you will be relying on the judgment of our management regarding the use of any proceeds from the sale
of common stock and/or the exercise of warrants on a cash basis in this offering and you will not have the opportunity, as part
of your investment decision, to assess whether the proceeds are being used appropriately. It is possible that the proceeds will
be invested in a way that does not yield a favorable, or any, return for you.
21
Investors in this offering may experience
future dilution as a result of this and future equity offerings.
In order to raise additional capital, we may
in the future offer additional shares of our common stock or other securities convertible into or exchangeable for our common stock.
Investors purchasing our shares or other securities in the future could have rights superior to existing common stockholders, and
the price per share at which we sell additional shares of our common stock or other securities convertible into or exchangeable
for our common stock in future transactions may be higher or lower than the price per share in this offering.
Sales of a significant number of shares
of our common stock in the public markets, or the perception that such sales could occur, could depress the market price of our
common stock.
Sales of a substantial number of shares of
our common stock in the public markets could depress the market price of our common stock and impair our ability to raise capital
through the sale of additional equity securities. We cannot predict the effect that future sales of our common stock would have
on the market price of our common stock.
If securities or industry analysts do
not publish research or publish inaccurate or unfavorable research about our business, our stock price and trading volume could
decline.
The trading market for our common stock will
depend in part on the research and reports that securities or industry analysts publish about us or our business. If one or more
of those analysts downgrade our stock or publish inaccurate or unfavorable research about our business, our stock price would likely
decline. If one or more of these analysts cease coverage of our Company or fail to publish reports on us regularly, demand for
our stock could decrease, which might cause our stock price and trading volume to decline.
The price of our common stock may be
volatile, and you may be unable to resell your shares at or above the initial public offering price.
Prior to this offering, there was no public
market for shares of our common stock. The initial public offering price for the shares of our common stock sold in this offering
will be determined by negotiation between the underwriters and us. This price may not reflect the market price of our common stock
following this offering. You may be unable to sell your shares of common stock at or above the initial public offering price due
to fluctuations in the market price of our common stock. In addition, the trading price of our common stock may be highly volatile
and could be subject to wide fluctuations in response to various factors, some of which are beyond our control. Factors that could
cause volatility in the market price of our common stock include, but are not limited to:
·
actual or anticipated fluctuations in our financial condition and operating results;
·
actual or anticipated changes in our growth rate relative to our competitors;
·
commercial success and market acceptance of our services;
·
success of our competitors in developing or commercializing services;
·
ability to commercialize or obtain regulatory approvals for our services, or delays in commercializing or obtaining regulatory approvals;
·
strategic transactions undertaken by us;
·
additions or departures of key personnel;
·
prevailing economic conditions;
·
disputes concerning our intellectual property or other proprietary rights;
·
transportation-related reform measures in the United States;
·
sales of our common stock by our officers, directors, or significant stockholders;
·
future sales or issuances of equity or debt securities by us;
·
business disruptions caused by earthquakes, fires, or other natural disasters; and
·
issuance of new or changed securities analysts' reports or recommendations regarding us.
22
In addition, the stock markets in general,
and the markets for companies like ours, have from time-to-time experienced extreme volatility that have has been often unrelated
to the operating performance of the issuer. A certain degree of stock price volatility can be attributed to being a newly public
company. These broad market and industry fluctuations may negatively impact the price or liquidity of our common stock, regardless
of our operating performance.
Accordingly, you will be relying on the judgment
of our management regarding the use of any proceeds from the sale of common stock in this offering and you will not have the opportunity,
as part of your investment decision, to assess whether the proceeds are being used appropriately.
As a "controlled company"
under the rules of Nasdaq, we may
choose to exempt our Company from certain corporate governance requirements that could have an adverse effect on our public shareholders.
WLP, our parent company, is currently the beneficial
owner of 100% of our voting stock. Upon the closing of this offering, WLP will own approximately                 %
of the voting power of our voting stock.  We currently meet the definition of a "controlled company" under the
corporate governance standards for Nasdaq
listed companies and for so long as we remain a controlled company under this definition, we are eligible to utilize certain exemptions
from the corporate governance requirements of Nasdaq.
As long as our officers and directors, either
individually or in the aggregate, own at least 50% of the voting power of our Company, we are a "controlled company"
as defined under the listing rules of Nasdaq.
For so as we are a controlled company under
that definition, we are permitted to elect to rely, and may rely, on certain exemptions from corporate governance rules, including:
•
an exemption from the rule that a majority of our board of directors must be independent directors;
•
an exemption from the rule that the compensation of our CEO must be determined or recommended solely by independent directors; and
•
an exemption from the rule that our director nominees must be selected or recommended solely by independent directors.
Although we do not intend to rely on the "controlled
company" exemption under the Nasdaq listing rules, we could elect to rely on this exemption in the future. If we elect to rely on the "controlled company"
exemption, a majority of the members of our board of directors might not be independent directors and our nominating and corporate
governance and compensation committees might not consist entirely of independent directors.
As a result, you will not have the same
protection afforded to shareholders of companies that are subject to these corporate governance requirements.
Raising additional capital may cause
dilution to our existing stockholders and restrict our operations or require us to relinquish certain intellectual property rights
.
We may seek additional capital through a combination
of public and private equity offerings, debt financings, strategic partnerships and alliances, licensing arrangements and grants.
To the extent that we raise additional capital through the sale of equity or convertible debt securities, the ownership interest
of our existing stockholders may be diluted, and the terms may include liquidation or other preferences that adversely affect the
rights of our stockholders. Debt and receivables financings may be coupled with an equity component, such as warrants to purchase
shares, which could also result in dilution of our existing stockholders' ownership. The incurrence of indebtedness would
result in increased fixed payment obligations and could also result in certain restrictive covenants, such as limitations on our
ability to incur additional debt, limitations on our ability to acquire or license intellectual property rights and other operating
restrictions that could adversely impact our ability to conduct our business. If we raise additional funds through strategic partnerships
and alliances and licensing arrangements with third parties, we may have to relinquish valuable rights to our or our subsidiaries'
services or grant licenses on terms that are not favorable to us. A failure to obtain adequate funds may cause us to curtail certain
operational activities, including validation/marketing studies, sales and marketing and operations, in order to reduce costs and
sustain the business, and would have a material adverse effect on our business and financial condition.
23
We may seek to grow our business through
acquisitions or investments in new or complementary businesses, services or technologies, through the licensing of technologies
from third parties or other strategic alliances, and the failure to manage acquisitions, investments, licenses or other strategic
alliances, or the failure to integrate them with our existing business, could have a material adverse effect on our operating results,
dilute our stockholders' ownership, increase our debt or cause us to incur significant expense.
Our success depends on our ability to continually
enhance and broaden our service offerings in response to changing customer demands, competitive pressures, technologies, and market
pressures. Accordingly, from time to time we may consider opportunities to acquire, make investments in or license other technologies
and businesses that may enhance our capabilities, complement our current services, or expand the breadth of our markets or customer
base. Potential and completed acquisitions, strategic investments, licenses, and other alliances involve numerous risks, including:
·
difficulty assimilating or integrating acquired or licensed technologies or business operations;
·
issues maintaining uniform standards, procedures, controls, and policies;
·
unanticipated costs associated with acquisitions or strategic alliances, including the assumption of unknown or contingent liabilities and the incurrence of debt or future write-offs of intangible assets or goodwill;
·
diversion of management's attention from our core business and disruption of ongoing operations;
·
adverse effects on existing business relationships with customers;
·
risks associated with entering new markets in which we have limited or no experience;
·
potential losses related to investments in other companies;
·
potential loss of key employees of acquired businesses; and
·
increased legal and accounting compliance costs.
We do not know if we will be able to identify
acquisitions or strategic relationships, we deem suitable, whether we will be able to successfully complete any such transactions
on favorable terms, or at all, whether we will be able to successfully integrate any acquired business or technology into our business,
or retain any key personnel, suppliers or distributors. Our ability to successfully grow through strategic transactions depends
upon our ability to identify, negotiate, complete, and integrate suitable target businesses or technologies and to obtain any necessary
financing. These efforts could be expensive and time-consuming and may disrupt our ongoing business and prevent management from
focusing on our operations. As a result of any such failures, the price of our common stock may be affected adversely.
To finance any acquisitions, investments or
strategic alliances, we may choose to issue shares of our common stock as consideration, which could dilute the ownership of our
stockholders. Additional funds may not be available on terms that are favorable to us, or at all. If the price of our common stock
is low or volatile, we may be unable to consummate any acquisitions, investments or strategic alliances using our stock as consideration.
Furthermore, the market may look negatively upon the proposed issuance, and the resulting dilutive effect upon our common stock
which could then further negatively affect our stock price.
We may be subject to securities litigation, which is expensive
and could divert our management's attention.
The market price of our securities may be volatile,
and in the past companies that have experienced volatility in the market price of their securities have been subject to securities
class action litigation. We may be the target of this type of litigation in the future. Securities litigation against us could
result in substantial costs and divert our management's attention from other business concerns.
If there is no viable public market
for our common stock, you may be unable to sell your shares at or above the initial public offering price.
Prior to this offering there has been no public
market for shares of our common stock. Although we expect our common stock will be approved for listing on the Nasdaq Capital Market,
an active trading market for our shares may never develop or be sustained following this offering. You may be unable to sell your
shares quickly or at the market price if trading in shares of our common stock is not active. The initial public offering price
for our common stock will be determined through negotiations with the underwriters, and the negotiated price may not be indicative
of the market price of the common stock after the offering. As a result of these and other factors, you may be unable to resell
your shares of our common stock at or above the initial public offering price. Further, an inactive market may also impair our
ability to raise capital by selling shares of our common stock and may impair our ability to enter into strategic partnerships
or acquire companies by using our shares of common stock as consideration.
24
If our common stock is listed on the Nasdaq Capital Market,
we must meet certain financial and liquidity criteria to maintain such listing. If we violate the maintenance requirements for
continued listing of our common stock, our common stock may be delisted. In addition, our board may determine that the cost of
maintaining our listing on a national securities exchange outweighs the benefits of such listing. A delisting of our common stock
from the Nasdaq Capital Market may materially impair our stockholders' ability to buy and sell our common stock and
could have an adverse effect on the market price of, and the efficiency of the trading market for, our common stock. In addition,
the delisting of our common stock could significantly impair our ability to raise capital.
This offering has not been reviewed by
independent professionals.
We have not retained any independent professionals
to review or comment on this prospectus or otherwise protect the interest of the investors hereunder. Although we have retained
our own counsel, neither such counsel nor any other counsel has made, on behalf of the investors, any independent examination of
any factual matters represented by management herein. Therefore, for purposes of making a decision to purchase our common stock,
you should not rely on our counsel with respect to any matters herein described. Prospective investors are strongly urged to rely
on the advice of their own legal counsel and advisors in making a determination to purchase our shares of common stock.
Our failure to maintain effective internal
controls over financial reporting could have an adverse impact on us
.
We are required to establish and maintain appropriate
internal controls over financial reporting. Failure to establish those controls, or any failure of those controls once established,
could adversely impact our public disclosures regarding our business, financial condition, or results of operations. In addition,
management's assessment of internal controls over financial reporting may identify weaknesses and conditions that need to
be addressed in our internal controls over financial reporting or other matters that may raise concerns for investors. Any actual
or perceived weaknesses and conditions that need to be addressed in our internal control over financial reporting, disclosure of
management's assessment of our internal controls over financial reporting or disclosure of our public accounting firm's
attestation to or report on management's assessment of our internal controls over financial reporting may have an adverse
impact on the price of our common stock.
A control system, no matter how well conceived
and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. In addition,
the design of a control system must reflect the fact that there are resource constraints, and the benefit of controls must be relative
to their costs. Because of the inherent limitations in all control systems, no system of controls can provide absolute assurance
that all control issues and instances of fraud, if any, within our Company have been detected. These inherent limitations include
the realities that judgments in decision-making can be faulty and that breakdowns can occur because of simple error or mistake.
Further, controls can be circumvented by individual acts of some persons, by collusion of two or more persons, or by management
override of the controls. The design of any system of controls is also based in part upon certain assumptions about the likelihood
of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential
future conditions. Over time, a control may become inadequate because of changes in conditions or the degree of compliance with
policies or procedures may deteriorate. Because of inherent limitations in a cost-effective control system, misstatements due to
error or fraud may occur and may not be detected.
At present, we believe
that we have effective internal controls in place. However, our management, including our Chief Executive Officer, cannot guarantee
that our internal controls and disclosure controls that we have in place will prevent all possible errors, mistakes, or all fraud.
Our financial
controls and procedures may not be sufficient to ensure timely and reliable reporting of financial information, which, as a public
company, could materially harm our stock price.
We require significant
financial resources to maintain our public reporting status. We cannot assure you we will be able to maintain adequate resources
to ensure that we will not have any future material weakness in our system of internal controls. The effectiveness of our controls
and procedures may in the future be limited by a variety of factors including:
·
faulty human judgment and simple errors, omissions, or mistakes;
·
fraudulent action of an individual or collusion of two or more people;
·
inappropriate management override of procedures; and
·
the possibility that any enhancements to controls and procedures may still not be adequate to assure timely and accurate financial information.
Our internal control
over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles in
the United States of America. Our internal control over financial reporting includes those policies and procedures that (i) pertain
to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the
assets of the Company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial
statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being
made only in accordance with authorizations of management and directors of the Company; and (iii) provide reasonable assurance
regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company's assets that could
have a material effect on the financial statements.
25
Despite these controls,
because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Therefore,
even those systems determined to be effective can provide only reasonable assurance of achieving their control objectives. Furthermore,
smaller reporting companies like us face additional limitations. Smaller reporting companies employ fewer individuals and can find
it difficult to employ resources for complicated transactions and effective risk management. Additionally, smaller reporting companies
tend to utilize general accounting software packages that lack a rigorous set of software controls.
If we fail to have
effective controls and procedures for financial reporting in place, we could be unable to provide timely and accurate financial
information and be subject to investigation by the Securities and Exchange Commission and civil or criminal sanctions.
We must implement
additional and expensive procedures and controls to grow our business and organization and to satisfy new reporting requirements,
which will increase our costs and require additional management resources.
Upon becoming a fully
public reporting company, we will be required to comply with the Sarbanes-Oxley Act of 2002 (the "Sarbanes-Oxley Act")
and the related rules and regulations of the SEC, including the requirements that we maintain disclosure controls and procedures
and adequate internal control over financial reporting. Compliance with the Sarbanes-Oxley Act and other SEC and national exchange
requirements will increase our costs and require additional management resources. We recently have begun upgrading our procedures
and controls and will need to continue to implement additional procedures and controls as we grow our business and organization
and to satisfy new reporting requirements. If we are unable to complete the required assessment as to the adequacy of our internal
control over financial reporting, as required by Section 404 of the Sarbanes-Oxley Act or if we fail to maintain internal control
over financial reporting, our ability to produce timely, accurate and reliable periodic financial statements could be impaired.
If we do not maintain
adequate internal control over financial reporting, investors could lose confidence in the accuracy of our periodic reports filed
under the Exchange Act. Additionally, our ability to obtain additional financing could be impaired or a lack of investor confidence
in the reliability and accuracy of our public reporting could cause our stock price to decline.
We are an "emerging
growth company" under the JOBS Act of 2012 and we cannot be certain if the reduced disclosure requirements applicable to
emerging growth companies will make our common stock less attractive to investors.
We are an "emerging
growth company," as defined in the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"), and we may take
advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not
"emerging growth companies" including, but not limited to, not being required to comply with the auditor attestation
requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic
reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation
and shareholder approval of any golden parachute payments not previously approved. We cannot predict if investors will find our
common stock less attractive because we may rely on these exemptions. If some investors find our common stock less attractive as
a result, there may be a less active trading market for our common stock and our stock price may be more volatile.
In addition,
Section 107 of the JOBS Act also provides that an "emerging growth company" can take advantage of the extended
transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting
standards. In other words, an "emerging growth company" can delay the adoption of certain accounting standards
until those standards would otherwise apply to private companies. We are choosing not to take advantage of the extended
transition period for complying with new or revised accounting standards.
We will remain an
"emerging growth company" until the last day of the fiscal year following the fifth anniversary of the date of the
first sale of our common stock pursuant to an effective registration statement under the Securities Act, although we will lose
that status sooner if our revenues exceed $1.07 billion, if we issue more than $1 billion in non-convertible debt in a three year
period, or if the market value of our common stock that is held by non-affiliates exceeds $700 million as of the last day of our
most recently completed second fiscal quarter.
26
Our status as
an "emerging growth company" under the JOBS Act may make it more difficult to raise capital as and when we need it.
Because of the
exemptions from various reporting requirements provided to us as an "emerging growth company", we may be less attractive
to investors and it may be difficult for us to raise additional capital as and when we need it. Investors may be unable to compare
our business with other companies in our industry if they believe that our financial accounting is not as transparent as other
companies in our industry. If we are unable to raise additional capital as and when we need it, our financial condition and results
of operations may be materially and adversely affected.
We have not
paid dividends in the past and do not expect to pay dividends in the future, and any return on investment may be limited to the
value of our stock.
We have never paid cash dividends on our common
stock and do not anticipate paying cash dividends on our common stock in the foreseeable future. We currently intend to retain
any future earnings to support the development of our business and do not anticipate paying cash dividends in the foreseeable future.
Our payment of any future dividends will be at the discretion of our board of directors after considering various factors, including,
but not limited to, our financial condition, operating results, cash needs, growth plans and the terms of any credit agreements
that we may be a party to at the time. In addition, our ability to pay dividends on our common stock may be limited by Nevada state
law. Accordingly, investors must rely on sales of their common stock after price appreciation, which may never occur, as the only
way to realize a return on their investment. Investors seeking cash dividends should not purchase our common stock.
The elimination of personal liability
against our directors and officers under Nevada law and the existence of indemnification rights held by our directors, officers
and employees may result in substantial expenses.
Our articles of incorporation and our bylaws
eliminate the personal liability of our directors and officers to us and our stockholders for damages for breach of fiduciary duty
as a director or officer to the extent permissible under Nevada law. Further, our articles of incorporation and our bylaws provide
that we are obligated to indemnify each of our directors or officers to the fullest extent authorized by Nevada law and, subject
to certain conditions, advance the expenses incurred by any director or officer in defending any action, suit or proceeding prior
to its final disposition. Those indemnification obligations could expose us to substantial expenditures to cover the cost of settlement
or damage awards against our directors or officers, which we may be unable to afford. Further, those provisions and resulting costs
may discourage us or our stockholders from bringing a lawsuit against any of our current or former directors or officers for breaches
of their fiduciary duties, even if such actions might otherwise benefit our stockholders.
Provisions in Nevada law may have an
anti-takeover effect.
Nevada corporate statutes contain provisions
designed to protect Nevada corporations and employees from the adverse effects of hostile corporate takeovers. These statutory
provisions reduce the possibility that a third party could effect a change in control without the support of our incumbent directors
and may also strengthen the position of current management by restricting the ability of shareholders to change the composition
of the Board, to affect its policies generally and to benefit from actions that are opposed by the Board.
You should consult your own independent
tax advisor regarding any tax matters arising with respect to the securities offered in connection with this offering.
Participation in this offering could result
in various tax-related consequences for investors. All prospective purchasers of the resold securities are advised to consult their
own independent tax advisors regarding the U.S. federal, state, local and non-U.S. tax consequences relevant to the purchase, ownership,
and disposition of the resold securities in their particular situations.
IRS CIRCULAR 230 DISCLOSURE: TO ENSURE COMPLIANCE
WITH REQUIREMENTS IMPOSED BY THE INTERNAL REVENUE SERVICE, WE INFORM YOU THAT ANY U.S. TAX ADVICE CONTAINED HEREIN (INCLUDING ANY
ATTACHMENTS) IS NOT INTENDED OR WRITTEN TO BE USED, AND CANNOT BE USED, FOR THE PURPOSE OF AVOIDING PENALTIES UNDER THE INTERNAL
REVENUE CODE. IN ADDITION, ANY U.S. TAX ADVICE CONTAINED HEREIN (INCLUDING ANY ATTACHMENTS) IS WRITTEN TO SUPPORT THE "PROMOTION
OR MARKETING" OF THE MATTER(S) ADDRESSED HEREIN. YOU SHOULD SEEK ADVICE BASED ON YOUR PARTICULAR CIRCUMSTANCES FROM YOUR
OWN INDEPENDENT TAX ADVISOR.
IN ADDITION TO THE ABOVE RISKS, BUSINESSES
ARE OFTEN SUBJECT TO RISKS NOT FORESEEN OR FULLY APPRECIATED BY MANAGEMENT. IN REVIEWING THIS FILING, POTENTIAL INVESTORS SHOULD
KEEP IN MIND THAT OTHER POSSIBLE RISKS MAY ADVERSELY IMPACT THE COMPANY'S BUSINESS OPERATIONS AND THE VALUE OF THE COMPANY'S
SECURITIES.
27
SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This prospectus contains "forward-looking
statements." The forward-looking statements are contained principally in the sections entitled "
Prospectus Summary
,"
"
Risk Factors
," "
Management's Discussion and Analysis of Financial Condition and Results of Operations
"
and "
Business
." Forward-looking statements reflect the current view about future events. When used in this prospectus,
the words "anticipate," "believe," "estimate," "expect," "future,"
"intend," "plan," or the negative of these terms and similar expressions, as they relate to us or our management,
identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this prospectus
relating to our business strategy, our future operating results and liquidity and capital resources outlook. Forward-looking statements
are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because
forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances
that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements.
They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against
relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from
those in the forward-looking statements include, without limitation:
1.
Our ability to effectively operate our business segments;
2.
Our ability to manage our research, development, expansion, growth and operating expenses;
3.
Our ability to evaluate and measure our business, prospects and performance metrics;
4.
Our ability to compete, directly and indirectly, and succeed in the highly competitive transportation industry;
5.
Our ability to respond and adapt to changes in technology and customer behavior;
6.
Our ability to protect our intellectual property and to develop, maintain and enhance a strong brand; and
7.
Other factors (including the risks contained in the section of this prospectus entitled "
Risk Factors
") relating to our industry, our operations and results of operations.
Should one or more of these risks or uncertainties
materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated,
believed, estimated, expected, intended or planned.
The forward-looking statements made in this
prospectus relate only to events or information as of the date on which the statements are made in this prospectus.  Factors
or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict
all of them. We cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable
law, including the securities laws of the United States, we do not intend to update or otherwise revise any of the forward-looking
statements in this prospectus to conform these statements to actual results.
28
USE
OF PROCEEDS
We estimate that we will receive net proceeds
of approximately                  (or approximately                 
if the underwriters' option to purchase additional shares is exercised in full) from the sale of the common stock offered
by us in this offering, based on public offering price of                 
per share, which is the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus,
and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us.
The principal purposes of this offering are
to increase our capitalization and financial flexibility, increase our visibility in the marketplace and create a public market
for our common stock. As of the date of this prospectus, we cannot specify with certainty all of the particular uses for the net
proceeds to us from this offering. However, we currently intend to use the net proceeds to us from this offering for proprietary
technology development, acquisitions, general corporate and working capital purposes. While we expect to use the net proceeds for
the purposes described above, the timing and amount of our actual expenditures will be based on many factors, including cash flows
from operations, the anticipated growth of our business and the general economic conditions
We will retain broad discretion in the allocation
of the net proceeds from this offering and could utilize the proceeds in ways that do not necessarily improve our results of operations
or enhance the value of our common stock.
The table below sets forth the manner in which
we expect to use the net proceeds we receive from this offering. All amounts included in the table below are estimates.
Description
Amount
Proprietary Technology Development
$
Acquisitions
$
General Corporate and Working Capital Purposes
$
Total
$
The foregoing information is an estimate based
on our current business plan. We may find it necessary or advisable to re-allocate portions of the net proceeds reserved for one
category to another, and we will have broad discretion in doing so. Pending these uses, we intend to invest the net proceeds of
this offering in a money market or other interest-bearing account.
The foregoing information is an estimate based
on our current business plan. We may find it necessary or advisable to re-allocate portions of the net proceeds reserved for one
category to another, and we will have broad discretion in doing so. Pending these uses, we intend to invest the net proceeds of
this offering in a money market or other interest-bearing account. See "
Risk Factors— Risks Related to this Offering
and Ownership of our Common Stock— Our management will have broad discretion over the use of any net proceeds from this offering
and you may not agree with how we use the proceeds, and the proceeds may not be invested successfully."
DIVIDEND POLICY
We have not declared any cash dividends since
inception, and we do not anticipate paying any dividends in the foreseeable future. Instead, we anticipate that all of our earnings
will be used to provide working capital, to support our operations, and to finance the growth and development of our business,
including potentially the acquisition of, or investment in, businesses, technologies or services that complement our existing business.
The payment of dividends is within the discretion of the Board and will depend on our earnings, capital requirements, financial
condition, prospects and applicable Nevada law. There are no restrictions that currently limit our ability to pay dividends on
our common stock other than those generally imposed by applicable state law. See also "
Risk Factors—Risks Relating
to this Offering and Ownership of Our Common Stock—We have not paid dividends in the past and do not expect to pay dividends
in the future."
29
CAPITALIZATION
The following table sets forth our combined
cash and capitalization, as of March 31, 2022. Such information is set forth on the following basis:
·
on an actual basis; and
·
on a pro forma basis to reflect our receipt of the net proceeds of our sale and issuance of                  shares of common stock in this offering at an assumed initial public offering price of $                 per share (the midpoint of the price range set forth on the front cover page of this prospectus), after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us and after the use of net proceeds therefrom (assuming no exercise by the underwriters of their option to purchase additional shares from us).
The pro forma information below is illustrative
only and our capitalization following the completion of this offering is subject to adjustment based on the public offering price
of the shares and other terms of this offering determined at pricing. You should read the following table in conjunction with "
Use
of Proceeds
," "
Management's Discussion and Analysis of Financial Condition and Results of Operations
"
and our financial statements and related notes included in this prospectus.
Actual
Pro forma
(1)
Cash
$
326,322
$
Long-term debt
$
Subordinated debt payable to related party
(2)
$
1,516,895
Total long-term debt
1,516,895
Stockholders' equity:
Preferred stock, $0.001 par value, 20,000,000 shares authorized;
2,000 shares issued and outstanding, actual and pro forma
2
Common stock, $0.001 par value,180,000,000 shares authorized;
30,000,000 shares issued and outstanding, actual; shares issued
and outstanding, pro forma
30,000
Additional paid-in capital
-
Retained earnings
400,464
)
Total stockholders' equity
430,466
)
Total capitalization
$
430,466
)
$
(1) Does not include:                 
shares of our common stock issuable upon exercise of the underwriter's warrants
(                 shares
if the underwriters' over-allotment option is exercised in full).
(2) Includes the funds drawn against the note
issued by eCommerce Funding to SWL Investments LP, which is owned and operated by S. Whitfield Lee, our Chairman, Chief Executive
Officer and President. For further details please see "
Certain Relationships and Related Party Transactions
".
Each $1.00 increase or decrease in the assumed
initial public offering price of $                 per
share (which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus), assuming no
change in the number of shares to be sold, would increase or decrease the pro forma as adjusted cash and cash equivalents, additional
paid-in capital and total stockholders' equity by approximately $ , after deducting estimated underwriting discounts and
commissions and estimated offering expenses payable by us.
DILUTION
If you invest in our
common stock in this offering, your ownership interest will be diluted to the extent of the difference between the assumed initial
public offering price per share of our common stock and the pro forma as adjusted net tangible book value per share of our common
stock immediately after this offering.
The historical net tangible book value of our common stock as of March
31, 2022, was $30,000 or $0.001 per share. Historical net tangible book value per share of our common stock represents our total
tangible assets (total assets less intangible assets) less total liabilities divided by the number of shares of our common stock outstanding
as of that date. After giving effect to the sale of                 
shares in this offering at an initial public offering price of $                 per
share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, our pro forma net tangible
book value as of March 31, 2022 would have been $                 or
approximately $                 per share of our
common stock. This represents an immediate increase in as adjusted pro forma, net tangible book value per share of $                to
the existing stockholders and an immediate dilution in as adjusted pro forma net tangible book value per share of $                 to
new investors who purchase shares of our common stock in the offering. The following table illustrates this per share dilution to new
investors:
30
Assumed initial public offering price per share
$
Historical net tangible book value per share as of March 31, 2022
$
0.001
Increase in pro forma net tangible book value per share attributable to new investors purchasing shares in this offering
Pro forma net tangible book value per share after this offering
Dilution per share to new investors purchasing shares in this offering
$
If the underwriters exercise their option
to purchase               additional shares in full,
the pro forma as adjusted net tangible book value of our common stock after this offering would be $               
per share, representing an immediate increase in net tangible book value of approximately $               
per share to existing stockholders and an immediate dilution of $               
per share to the investors in this offering, after deducting the underwriting discount and estimated offering expenses payable
by us.
We may choose to raise additional capital
due to market conditions or strategic considerations even if we believe we have sufficient funds for our current or future operating
plans. To the extent that additional capital is raised through the sale of equity or convertible debt securities, the issuance
of these securities may result in further dilution to our stockholders.
The following table sets forth the total
number of shares of common stock previously issued and sold to the existing stockholder, the total consideration paid for the foregoing
and the average price per share of common stock paid, or to be paid, by the existing stockholder and by the new investors. The
calculation below is based on the assumed initial public offering price of $               
per share, which is the midpoint of the estimated offering range set forth on the cover page of this prospectus, before deducting
estimated underwriter commissions and offering expenses, in each case payable by us.
Shares Purchased
Total Consideration
Number
Percent
Amount
Percent
Per Share
Existing stockholders
%
$
%
$
New Investors
%
$
%
$
%
$
%
MANAGEMENT'S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Certain statements made in this prospectus
are "forward-looking statements" regarding the plans and objectives of management for future operations. Such statements
involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of
the "Company" to be materially different from any future results, performance or achievements expressed or implied
by such forward-looking statements. The forward-looking statements included herein are based on current expectations that involve
numerous risks and uncertainties. The Company's plans and objectives are based, in part, on assumptions involving the continued
expansion of business. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic,
competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately
and many of which are beyond the control of the Company. Although the Company believes its assumptions underlying the forward-looking
statements are reasonable, any of the assumptions could prove inaccurate and therefore, there can be no assurance the forward-looking
statements included in this prospectus will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking
statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any
other person that the objectives and plans of the Company will be achieved. Our actual results may differ materially from those
anticipated in these forward-looking statements as a result of various factors, including those set forth under "Risk
Factors" and in other parts of this prospectus. Our fiscal year ends on December 31.
Overview
We operate a freight brokerage and transportation
business, providing comprehensive transportation management solutions for shippers and carriers. Headquartered in Salt Lake
City, Utah. we deliver a one-stop freight management platform that connects shippers with truckers to facilitate shipments across
distance ranges, cargo weights, and types. We deliver value-driven logistics solutions powered by effective technology and distinguished
by personalized service built on solid relationships. We are building a next-generation digital freight platform that we believe
will transform the highly fragmented $1 trillion transportation and logistics sector.
31
Logistics is the lifeblood of our economy,
powering the movement of goods and connecting the engines of production and consumption. We aspire to revolutionize logistics,
improve efficiency across the value and supply chain and reduce the carbon footprint for our planet. Our goal is to leverage technology
to eliminate inefficiencies and create economic opportunity across the freight ecosystem. Our team is comprised of innovators seeking
to build the best products for all parties in the freight industry and to provide shippers and carriers with unparalleled transparency.
We also operate a next-generation, end-to-end
cloud-based financing platform for small and medium sized companies primarily in the e-commerce marketplace.  By combining
industry-leading technology and security with the expertise and care of our team, we serve e-commerce business owners nationwide
with efficiency, simplicity, transparency and reliability by providing alternative financial products to help them grow.
We are also in the process of developing
proprietary mobile applications and other transportation financial products which can be used by shippers, carriers and other freight
brokers.
Our transportation business is operated
through our wholly owned subsidiary, LeeWay Transportation, which operates through its two operating subsidiaries, Leeway Global
Logistics and LeeWay Freight Lines. Our specialty financial services business is operated through our wholly owned subsidiary,
LeeWay Capital.
Marketplace Challenges
We have proven our ability to grow both
revenue and gross margin throughout a variety of challenging market environments. Our convincing performance proved the resiliency
of our business model in 2020 and 2021 when we grew revenue by 68% for the year ended December 31, 2020 and 101% for the year ended
December 31, 2021, despite the market challenges presented by supply side problems and COVID-19. This momentum has carried into
2022, with the first three months showing a 167% increase over the first three months of 2021. We believe we are well positioned
to continue this vigorous growth into the future, given the robust demand in the market and our deepening relationships with new
and existing shippers.
Although it is difficult to predict the
effect and ultimate impact of the COVID-19 pandemic on our business, the impact of COVID-19 could adversely affect our results
of operations, financial condition and cash flows in fiscal year 2022.
32
Principal Factors Affecting Our Financial Performance
Our operating results are primarily affected by the following
factors:
·
our ability to acquire new customers or retain existing customers;
·
our ability to offer competitive pricing;
·
our ability to broaden product and service offerings;
·
industry demand and competition; and
·
market conditions and our market position.
Segments
We report segment information consistent
with our two major operations: transportation and financing. The transportation segment includes revenues and costs related to
our transportation brokerage operation. The financing segment includes revenues and costs related to the providing of financing
to individuals and entities that sell products on various sales platforms, such as Amazon, Walmart and Shopify. All business activity
is confined to the continental United States, and as such there is no breakout between domestic and international revenues and
expenses.
Results of Operations
Comparison of Three Months Ended
March 31, 2022 and 2021
The following table sets forth key components
of our results of operations during the three month periods ended March 31, 2022 and 2021, both in dollars and as a percentage
of our revenues.
For the Three Months Ended
March 31, 2022
March 31, 2021
Amount
% of
Revenues
Amount
% of
Revenues
Revenues
Transportation income
$
12,082,377
98.76
%
$
4,451,434
97.00
%
Financing service income
151,347
1.24
%
137,647
3.00
%
Total revenue
12,233,724
100.00
%
4,589,081
100.00
%
Cost of goods sold
Transportation costs
9,633,516
78.74
%
3,901,746
85.02
%
Financing costs
71,961
0.59
%
29,655
0.65
%
Total cost of goods sold
9,705,477
79.33
%
3,931,401
85.67
%
Gross profit
2,528,247
20.67
%
657,680
14.33
%
Operating expenses
Payroll and consultants
1,251,623
10.23
%
408,187
8.89
%
Sales and marketing
85,996
0.70
%
63,943
1.39
%
General and administrative
254,576
2.08
%
123,337
2.69
%
Depreciation
35,667
0.29
%
8,664
0.19
%
Total operating expenses
1,627,862
13.31
%
604,131
13.16
%
Income from operations
900,385
7.36
%
53,549
1.17
%
Interest expense
-
0.00
%
(6,475
)
(0.14
)%
Income before income tax
900,385
7.36
%
47,074
1.03
%
Income tax expense
-
0.00
%
-
0.00
%
Net income
$
900,385
7.36
%
$
47,074
1.03
%
33
Revenues
. Our total revenues
increased by $7,644,643, or 167%, to $12,233,724 for the three months ended March 31, 2022, compared to $4,589,081 for the three
month period ended March 31, 2021. Such increase was primarily due to the fact that we have earned a larger percent of business
from our two largest customers, which attests to the strong relationships developed with each customer and the level of service
we have provided them.
Our transportation segment generates revenue
from contracting with carriers to meet freight hauling delivery needs of our customers. Revenues from the transportation segment
were $12,082,377, or 98.76% of our total revenues, for the three months ended March 31, 2022, as compared to $4,451,434, or 97.00%
of total revenues, for the three months ended March 31, 2021, an increase of $7,630,943, or 171%. Such increase resulted from both
an increase in demand for services and increased pricing due to supply and demand and surcharges to compensate for increased fuel
costs.
Our financing segment generates revenue
from fees charged for funds advanced to our customers. Revenues from the financing segment were $151,347, or 1.24% of our total
revenues, for the three months ended March 31, 2022, as compared to $137,647, or 3% of total revenues, for the comparable period
in 2021, an increase of $13,700, or 9.95%. Such increase was due to a consumer shift from buying from brick and mortar stores to
on-line buying, and a concurrent increase in the number of on-line sellers and thus the seller base needing funding for inventories
and/or working capital.
Cost of goods sold
. Our total
cost of goods sold increased by $5,774,076, or 147%, to $9,705,477 for the three months ended March 31, 2022 from $3,931,401 for
the comparable period in 2021. As a percentage of revenues, cost of goods sold decreased from 85.67% in 2021 to 79.33% in 2022.
Cost of sales are direct expenses, as a carrier must be contracted and paid for each shipment. Thus, there is a direct relationship
between revenue and cost of sales. As sales increase, there is a related increase in the cost of sales. Our objective is to contract
a carrier to deliver the order at no more than 85% of the fee we receive from our customer for the service, providing a minimum
gross margin of 15%.
Cost of goods sold for the transportation
segment consists of the fees paid to motor carrier lines and independent owner/operators for the delivery of freight contracted.
Cost of goods sold for the transportation segment increased by $5,731,770, or 146.90%, to $9,633,516 for the three month period
ended March 31, 2022 from $3,901,746 for the three months ended March 31, 2021. Such increase was due to the increased volume of
goods transported. As a percentage of transportation revenues, cost of goods sold for the transportation segment was 79.73% and
87.65% for the three months ended March 31, 2022 and 2021, respectively. The increased profit margin resulted from the shortage
of trucks which resulted in increased rates.
Cost of goods sold for the financing segment
consist of the cost of capital obtained to fund the agreements entered into with customers. Cost of goods sold for the financing
segment increased by $42,306, or 142.66%, to $71,961 for the three months ended March 31, 2022 from $29,655 for the same period
in 2021. Such increase was due to interest costs on funds borrowed to support the growth in funds deployed to customers. As
a percentage of financing revenues, cost of goods sold for the financing segment was 47.55% and 21.54% for the three months ended
March 31, 2022 and 2021, respectively.
Gross profit
. As a result
of the foregoing, our gross profit increased by $1,870,567, or 284.42%, to $2,528,247 for the three months ended March 31, 2022
from $657,680 for the three months ended March 31, 2021. As a percentage of revenues, our gross profit increased from 14.33% in
2021 to 20.67% in 2022.
Gross profit from the transportation segment
increased by $1,899,173, or 345.50%, to $2,448,861 for the three months ended March 31, 2022 from $549,688 for the same period
in 2021. Such increase was due to the increased level of loads contracted, coupled with higher rates as referenced above. As a
percentage of transportation revenues, gross profit for the transportation segment was 20.26% and 12.35% for the three months ended
March 31, 2022 and 2021, respectively.
Gross profit from the financing segment
decreased by $28,606, or 26.49%, to $79,386 for the three month period ended March 31, 2022 from $107,992 for the same period in
2021. Such decrease was due to increased financing costs to obtain the funds employed. As a percentage of financing revenues, gross
profit for the financing segment was 52.45% and 78.46% for the three months ended March 31, 2022 and 2021, respectively.
34
Payroll and consultant expenses
.
Our payroll and consultant expenses consist primarily of personnel expenses, including employee salaries and bonuses, plus related
payroll taxes, and consultant fees. Our payroll and consultant expenses increased by $843,436, or 206.63%, to $1,251,623 for the
three months ended March 31, 2022 from $408,187 for the same period in 2021. The increase was primarily due to increased personnel
to manage our business growth. As a percentage of revenues, payroll and consultant expenses increased from 8.89% in 2021 to 10.23%
in 2022.
Sales and marketing expenses
.
Our sales and marketing expenses consists primarily of advertising. Our sales and marketing expenses increased by $22,053, or 34.48%,
to $85,996 for the three months ended March 31, 2022 from $63,943 for the three months ended March 31, 2021. The increase was primarily
due to an increased advertising budget to attract additional customers. As a percentage of revenues, sales and marketing expenses
decreased from 1.39% in 2021 to 0.70% in 2022.
General and administrative expenses
.
Our general and administrative expenses consist primarily of rent and related office expenses. Our general and administrative expenses
increased by $131,239, or 106.41%, to $254,576 for the three months ended March 31, 2022 from $123,337 for the comparable period
in 2021. The increase was primarily due to upgrades in facilities and rent and common area increases. As a percentage of revenues,
general and administrative expenses decreased from 2.69% in 2021 to 2.08% in 2022.
Depreciation
. Depreciation
was $35,667, or 0.29% of revenues, for the three month period ended March 31, 2022, as compared to $8,664, or 0.19% of revenues,
for the three months ended March 31, 2021.
Interest expense
. Interest
expense was $-0- and $6,475, or 0.00% and 0.14%, respectively, of revenues, for the three months ended March 31, 2022 and 2021,
respectively.
Net income
. As a result of
the cumulative effect of the factors described above, we had a net income of $900,385 for the three months ended March 31, 2022,
as compared to $47,074 for the three months ended March 31, 2021, an increase of $853,311, or 1,812.70%.
Comparison of Years Ended December
31, 2021 and 2020
The following table sets forth key components
of our results of operations during the years ended December 31, 2021 and 2020, both in dollars and as a percentage of our revenues.
December 31, 2021
December 31, 2020
Amount
% of
Revenues
Amount
% of
Revenues
Revenues
Transportation income
$
27,316,857
97.92
%
$
13,471,155
96.83
%
Financing service income
580,647
2.08
%
440,385
3.17
%
Total revenue
27,897,504
100.00
%
13,911,540
100.00
%
Cost of goods sold
Transportation costs
23,377,335
83.80
%
11,773,778
84.63
%
Financing costs
147,934
0.53
%
105,171
0.76
%
Total cost of goods sold
23,525,269
84.33
%
11,878,949
85.39
%
Gross profit
4,372,235
15.67
%
2,032,591
14.61
%
Operating expenses
Payroll and consultants
2,166,425
7.77
%
1,276,964
9.18
%
Sales and marketing
474,084
1.70
%
265,321
1.91
%
General and administrative
541,684
1.94
%
323,840
2.33
%
Depreciation
48,610
0.17
%
26,662
0.19
%
Total operating expenses
3,230,803
11.58
%
1,892,787
13.61
%
Income from operations
1,141,432
4.09
%
139,804
1.00
%
Gain on PPP loan forgiveness
208,446
0.75
%
-
0.00
%
Interest expense
(39,639
)
(0.14
)%
(3,851
)
(0.03
)%
Income before income tax
1,310,239
4.70
%
135,953
0.98
%
Income tax expense
352,818
1.26
%
77,375
0.56
%
Net income
$
957,421
3.44
%
$
58,578
0.42
%
Revenues
. Our total revenues
increased by $13,985,964, or 101%, to $27,897,504 for the year ended December 31, 2021, compared to $13,911,540 for the year ended
December 31, 2020. Revenue from our two largest customers increased by $12,951,369 in 2021 as compared to 2020. The fact that each
of those customers has awarded us a larger portion of their business attests to the strengthened relationships developed with each
customer and the level of service provided them.
Revenues from the transportation segment
were $27,316,857, or 97.92% of our total revenues, for the year ended December 31, 2021, as compared to $13,471,155, or 96.83%
of total revenues, for the year ended December 31, 2020, an increase of $13,845,702, or 103%. Such increase was due to both to
an increase in demand for services and increased pricing due to supply and demand.
35
Revenues from the financing segment were
$580,647, or 2.08% of our total revenues, for the year ended December 31, 2021, as compared to $440,385, or 3.17% of total revenues,
for the year ended December 31, 2020, an increase of $140,262, or 31.85%. Such increase was due to a consumer shift from buying
from brick and mortar stores to on-line buying, and a concurrent increase in the number of on-line sellers and thus the seller
base needing funding for inventories and/or working capital.
Cost of goods sold
. Our total
cost of goods sold increased by $11,646,320, or 98%, to $23,525,269 for the year ended December 31, 2021 from $11,878,949 for the
year ended December 31, 2020. As a percentage of revenues, cost of goods sold decreased from 85.39% in 2020 to 84.33% in 2021.
Cost of sales are direct expenses, as a carrier must be contracted and paid for each shipment. Thus, there is a direct relationship
between revenue and cost of sales. As sales increase, there is a related increase in the cost of sales. Our objective is to contract
a carrier to deliver the order at no more than 85% of the fee we receive from our customer for the service, providing a minimum
gross margin of 15%.
Cost of goods sold for the transportation
segment increased by $11,603,557, or 98.55%, to $23,377,335 for the year ended December 31, 2021 from $11,773,778 for the year
ended December 31, 2020. Such increase was due to the increased volume of goods. As a percentage of transportation revenues, cost
of goods sold for the transportation segment was 85.58% and 87.40% for the years ended December 31, 2021 and 2020, respectively.
Cost of goods sold for the financing segment
increased by $42,763, or 40.66%, to $147,934 for the year ended December 31, 2021 from $105,171 for the year ended December 31,
2020. Such increase was due to cost to fund the growth in funds deployed to customers. As a percentage of financing revenues, cost
of goods sold for the financing segment was 25.48% and 23.88% for the years ended December 31, 2021 and 2020, respectively.
Gross profit
. As a result
of the foregoing, our gross profit increased by $2,339,644, or 115.11%, to $4,372,235 for the year ended December 31, 2021 from
$2,032,591 for the year ended December 31, 2020. As a percentage of revenues, our gross profit increased from 14.61% in 2020 to
15.67% in 2021.
Gross profit from the transportation segment
increased by $2,242,145, or 132.09%, to $3,939,522 for the year ended December 31, 2021 from $1,697,377 for the year ended December
31, 2020. Such increase was due to the increased level of revenue. As a percentage of transportation revenues, gross profit for
the transportation segment was 14.42% and 12.60% for the years ended December 31, 2021 and 2020, respectively.
Gross profit from the financing segment
increased by $97,499, or 29.09%, to $432,713 for the year ended December 31, 2021 from $335,214 for the year ended December 31,
2020. Such increase was due to sales growth and adding new customers. As a percentage of financing revenues, gross profit for the
financing segment was 74.52% and 76.12% for the years ended December 31, 2021 and 2020, respectively.
Payroll and consultant expenses
.
Our payroll and consultant expenses increased by $889,461, or 69.65%, to $2,166,425 for the year ended December 31, 2021 from $1,276,964
for the year ended December 31, 2020. The increase was primarily due to increased personnel to manage our business growth. As a
percentage of revenues, payroll and consultant expenses decreased from 9.18% in 2020 to 7.77% in 2021.
Sales and marketing expenses
.
Our sales and marketing expenses increased by $208,763, or 78.68%, to $474,084 for the year ended December 31, 2021 from $265,321
for the year ended December 31, 2020. The increase was primarily due to an increased advertising budget to attract additional
customers. As a percentage of revenues, sales and marketing expenses decreased from 1.91% in 2020 to 1.70% in 2021.
36
General and administrative expenses
.
Our general and administrative expenses increased by $217,844, or 67.27%, to $541,684 for the year ended December 31, 2021 from
$323,840 for the year ended December 31, 2020. The increase was primarily due to upgrades in facilities and rent and common area
increases. As a percentage of revenues, general and administrative expenses decreased from 2.33% in 2020 to 1.94% in 2021.
Depreciation
. Depreciation
was $48,610, or 0.17% of revenues, for the year ended December 31, 2021, as compared to $26,662, or 0.19% of revenues, for the
year ended December 31, 2020.
Interest expense
. Interest
expense was $39,639, or 0.14% of revenues, for the year ended December 31, 2021, as compared to $3,851, or 0.03% of revenues, for
the year ended December 31, 2020.
Income tax expense
. We had
an income tax expense of $352,818 for the year ended December 31, 2021, as compared to an income tax expense of $77,375 for the
year ended December 31, 2020.
Net income
. As a result
of the cumulative effect of the factors described above, we had a net income of $957,421 for the year ended December 31, 2021,
as compared to $58,578 for the year ended December 31, 2020, an increase of $898,843, or 1,534.44%.
Liquidity and Capital Resources
As of March 31, 2022, we had cash and cash
equivalents of $326,322 and working capital of $1,359,026. Since inception we have financed our operations through the issuance
of notes payable to our major shareholder for funds provided.
Our priority is to continue to grow our
revenue and gross profit. We anticipate that our operating expenses and planned expenditures will constitute a material use of
cash, and we expect to use available cash to expand our sales force, enhance our technology, acquire complimentary businesses and
for working capital and other general corporate purposes. We also expect to use cash to make any earn-out payments due in connection
with our acquisitions. We may use a portion of the net proceeds from this offering to fund these uses of cash.
Historically, our average accounts receivable
lifecycle has been longer than our average accounts payable lifecycle, which requires that we use cash to pay carriers in advance
of collecting from our customers. We elect to provide this benefit to foster strong relationships with both our customers and carriers.
As our business grows, we expect this use of cash will continue. The amount of cash we use will be dependent on the growth of our
business.
Although we can provide no assurances,
we believe that the net proceeds from this offering, combined with our available cash, should be sufficient to meet our cash and
operating requirements for the foreseeable future. Thereafter, we intend to obtain additional equity financing and obtain a credit
facility to provide funds needed for our expected growth. In the event additional financing is required, there are no assurances
that such debt can be raised on acceptable terms or at all.
Summary of Cash Flow
The following table provides detailed information
about our net cash flow for all financial statement periods presented in this prospectus.
37
Three Months Ended
March 31,
Year Ended
December 31,
2022
2021
2021
2020
Net cash provided by (used in) operating activities
$
167,494
$
(163,398
)
$
190,880
$
(907,844
)
Net cash used in investing activities
(24,720
)
(10,301
)
(514,723
)
(40,114
)
Net cash provided by (used in) financing activities
(154,390
)
121,137
368,703
1,084,944
Net change in cash
(11,616
)
(52,562
)
44,860
136,986
Cash and cash equivalents at beginning of year
337,938
293,078
293,078
156,092
Cash and cash equivalents at end of year
$
326,322
$
240,516
$
337,938
$
293,078
Our net cash provided by operating activities
was $167,494 for the three months ended March 31, 2022, as compared to net cash used in operating activities of $163,398 for the
same period in 2021. For the three months ended March 31, 2022, our net income of $900,385 and an increase in accounts payable
of $745,913, offset in part by a $1,657,347 increase in accounts receivable, were the primary drivers for cash provided by operations.
For the three months ended March 31, 2021, our net income of $47,074 and an increase in accounts payable of $172,260, offset by
a $406,599 increase in accounts receivable, were the primary drivers for cash used in operations.
Our net cash provided by operating activities
was $190,880 for the year ended December 31, 2021, as compared to net cash used of $907,844 for the year ended December 31, 2020.
For the year ended December 31, 2021, our net income of $957,421 and an increase in accounts payable of $1,817,285, offset in part
by a $ 2,665,325 increase in accounts receivable, were the primary drivers for cash provided by operations. For the year ended
December 31, 2020, our net income of $58,578 and an increase in accounts payable of $597,148, offset by a $1,511,284 decrease in
accounts receivable, were the primary drivers for cash used in operations.
Our net cash used in investing activities
was $24,720 for the three month period ended March 31, 2022, which consisted primarily of continued development work on our fintech
platform, as compared to $10,301 for the comparable period in 2021, which also consisted of development work on our fintech platform.
Our net cash used in investing activities
was $514,723 for the year ended December 31, 2021, which consisted primarily of continued development work on our fintech platform,
as compared to $40,114 for the year ended December 31, 2020, which consisted of purchases of property and equipment.
Our net cash used in financing activities
was $154,390 for the three months ended March 31, 2022 as compared to net cash provided by financing activities of $121,137 for
the same period ended March 31, 2021. Net cash used in financing activities for the three months ended March 31, 2022 consisted
of $51,921 in proceeds of the subordinated debt offset in part by a reduction of $206,311 in the note payable to a related party,
while the net cash provided by financing activities for the three month period ended March 31, 2021 consisted of proceeds from
the note payable of $795,996,offset by payments of $674,859 to reduce the subordinated debt.
Our net cash provided by financing activities
was $368,703 for the year ended December 31, 2021 as compared to $1,084,944 for the year ended December 31, 2020. Net cash provided
by financing activities for the year ended December 31, 2021 consisted of $633,934 in proceeds of the subordinated debt offset
in part by a reduction of $265,231 in note payable to a related party, while the net cash provided by financing activities for
the year ended December 31, 2020 consisted of short-term debt of $100,000, related party note payables of $461,327, proceeds from
the paycheck protection program loan described below of $208,446 and subordinate debt of $315,171.
Debt
On November 1, 2018, eCommerce Funding
entered into a note payable in the amount of $500,000 with SWL Investments, an Oklahoma limited partnership, to provide operating
funds to LeeWay Capital. On April 1, 2019, the note was amended to provide up to a total of $1,500,000 in funding under the note.
On January 2, 2022 the note was further amended to provide for up to $2,200,000 in funding and to extend the maturity date. The
note bears interest at the rate of 12% per annum and has a maturity date of November 1, 2027. Under the terms of the note the interest
is to be accrued and is due and payable with the principal on the maturity date. Funds are drawn against this note as required
to fund our operations and business activities. At March 31, 2022 and 2021 the funds drawn against this note were $1,775,476 and
$1,723,555, respectively.
38
We applied for and received a Small Business Administration
loan under the paycheck protection program in the amount of $208,446. The loan was funded on May 29, 2020, bears an interest rate
of 1% per annum and has a maturity date of May 29, 2022. The funds obtained under this loan were used for the payment of salaries,
health insurance costs, and rent, all of which expenses qualify for the loan forgiveness under the terms of the loan. We applied
for forgiveness of both the principal of the note and all accrued unpaid interest and received notice on June 13, 2021 that, as
the funds were used for their specified purposes, the principal and all accrued interest was forgiven. We recognized a gain on
forgiveness of debt of $208,446 which was recorded as other income in 2021.
Off-Balance Sheet Arrangements
We do not have any off-balance sheet arrangements during the
periods presented.
Critical Accounting Policies
The following discussion relates to critical
accounting policies for our Company. The preparation of financial statements in conformity with GAAP requires our management to
make assumptions, estimates and judgments that affect the amounts reported, including the notes thereto, and related disclosures
of commitments and contingencies, if any. We have identified certain accounting policies that are significant to the preparation
of our financial statements. These accounting policies are important for an understanding of our financial condition and results
of operation. Critical accounting policies are those that are most important to the portrayal of our financial condition and results
of operations and require management's difficult, subjective, or complex judgment, often as a result of the need to make
estimates about the effect of matters that are inherently uncertain and may change in subsequent periods. Certain accounting estimates
are particularly sensitive because of their significance to financial statements and because of the possibility that future events
affecting the estimate may differ significantly from management's current judgments. We believe the following critical accounting
policies involve the most significant estimates and judgments used in the preparation of our financial statements:
39
Revenue Recognition
:  The
Company has adopted and accounts for revenue under the guidance provided by ASC 606, Revenue from Contracts with Customers, and
all related amendments ("new revenue standard"). We have applied the new revenue standard to all contracts from the
date of initial application.
LeeWay Transportation, Inc. recognizes
revenue at the time the signed proof of delivery receipt ("POD") is received. The Company's performance obligations
under the contract are completed when the freight is delivered to its destination, and it has received a signed POD. Revenue from
each delivery is calculated individually and is deemed earned when the POD is signed, as the Company is not obligated to provide
any additional services subsequent to the delivery, and the customer's acknowledgement of delivery is evidenced by the signed
POD and therefore the collectability of the fee for service is reasonably assured.
Revenue is recorded at the gross amount
of the contract. The gross amount represents the amount for which the Company will receive payment from the customer. The sales
process begins with a price quotation to the customer and the Company then identifies a carrier to make the delivery. The cost
which the Company incurs with the carrier identified and contracted to deliver the freight is recorded as cost of sales, with the
difference between the price agreed upon with the customers and the cost of delivery representing the gross profit on that individual
transaction.
The Company's payment terms are net
30 with the exception of its largest customer, for which payment terms are net 60. Our competitors provide services to our largest
customer with terms of net 60. The Company is required to offer the same payment terms as its competitors in order to secure the
customer's business.
The Company's customer contracts
set forth its performance obligations under those contracts. The Company's obligation is to transport the contracted goods
to the delivery point, as directed by our customer. The arrival of the contracted goods at the destination and the receipt by the
Company of a signed POD completes its obligations and it can then record as revenue the price agreed upon for the services provided.
Revenue is only recognized by the Company after its receipt of the signed POD. Were a shipment to be in transit at month-end there
is no revenue recognized, as the Company has not yet completed its contractual obligations.
LeeWay Capital recognizes revenue ratably
over the term of the agreement. Revenue on each agreement is the total due under the agreement less the funded amount. In those
instances where the customers' obligations are not fully paid at the termination date of the agreement, additional fees are
calculated and charged on the unpaid balance, with those fees recognized as revenue for each of the months a balance remains outstanding.
Fair Value Measurements
:
The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability
in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial
liabilities ae marked to offer prices. The fair value should be calculated based on assumptions that market participants would
use in pricing the asset or liability, not on assumptions specific to the entity. In addition, the fair value of liabilities should
include consideration of non-performance risk, including the party's own credit risk.
Fair value measurements do not include
transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine
fair values. Categorization within the fair value hierarch is based on the lowest level of input that is significant to the fair
value measurement. The fair value hierarchy is defined into the following three categories:
Level 1: Quoted market prices
in active markets for identical assets or liabilities.
Level 2: Observable inputs other
than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume
or infrequent transactions (less active markets); pr mode-driven valuations in which all significant inputs are observable or can
be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities.
40
Level 3: Unobservable inputs
to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.
To the extent that valuation is based on
models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment.
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy within which
the fair value measurement is disclosed and is determined based on the lowest level input that is significant to the fair value
measurement.
The carrying value of the Company's
cash, accounts payable and other current assets and liabilities approximate fair value because of their short-term maturity.
Accounts Receivable
: Accounts
receivables are presented net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for
estimated losses. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when
there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances,
the Company considers a number of factors, including the age of the balance, a customer's historical payment history, its
current creditworthiness and current economic trends. Accounts are written off after exhaustive efforts at collection. At March
31, 2022 and December 31, 2021, the Company had accounts receivable, net of the allowance of doubtful accounts, of $6,598,462 and
$6,598,462, respectively. At March 31, 2022 and December 31, 2021, the allowance for doubtful accounts was $460,079 and $379,694,
respectively.
Concentration and Credit Risk:
The
Company has two customers which represent a significant portion of revenue and three customers which represent a significant portion
of their accounts receivable.
During the three months ended March 31,
2022, McCain Foods USA, Inc. ("Customer 1") and Ruan Transport Corporation ("Customer 2") represented in
an aggregate approximately 90% of revenue. During the three months ending March 31, 2021, Customer 1 and Customer 2 represented
approximately 81% of the Company's revenue. Revenue related to these two customers is set forth in the table below. Also,
Customer 1, Customer 2 and Warren Distributors ("Customer 3") in an aggregate represented approximately 68% of the
Company's accounts receivable as of March 31, 2022 and Customer 1, Customer 2, Customer 3 in an aggregate represented approximately
44% of the Company's accounts receivable as of March 31, 2021.
During the year ended December 31, 2021,
Customer and Customer 2 represented in an aggregate approximately 74% of revenue. During the year ending December 31, 2020 Customer
1 and Customer 2 represented approximately 56% of the Company's revenue. Revenue related to these two customers is set forth
in the table below. Also, Customer 1, Customer 2 and Customer 3 in an aggregate represented approximately 44% of the Company's
accounts receivable as of the year ended December 31, 2021 and Customer 1, Customer 2, Customer 3 in an aggregate represented approximately
85% of the Company's accounts receivable as of December 31, 2020.
Our contracts with Customer 1 and Customer
2 are described under "Business—Our Business—Freight Brokerage and Logistics." The Company does not have
any signed contracts with Customer 3.
The Company believes it has strong relationships
with these customers and believes their business with each of them will be ongoing.
For the Three Months
Ended March 31, 2022
For the Three Months
Ended March 31, 2021
Customer
Revenue
Percent of
Revenue
Revenue
Percent of
Revenue
Customer 1
$
8,975,494
73.36
%
$
2,180,972
47.52
%
Customer 2
$
2,010,813
16.44
%
$
1,518,616
33.09
%
41
At March 31, 2022
At December 31, 2021
Customer
Accounts
Receivable
Percent of Accounts
Receivable
Accounts
Receivable
Percent of Accounts
Receivable
Customer 1
$
4,811,888
58.28
%
$
3,089,093
35.73
%
Customer 2
$
723,427
8.76
%
$
315,891
4.79
%
Customer 3
$
96,066
1.16
%
$
221,693
3.31
%
2021
2020
Customer
Revenue
Percent of
Revenue
Revenue
Percent of
Revenue
Customer 1
$
16,358,527
58.64
%
$
5,164,104
37.03
%
Customer 2
$
4,416,242
15.83
%
$
2,647,296
19.03
%
2021
2020
Customer
Accounts
Receivable
Percent of Accounts
Receivable
Accounts
Receivable
Percent of Accounts
Receivable
Customer 1
$
3,089,093
35.73
%
$
1,055,937
52.07
%
Customer 2
$
315,891
4.79
%
$
445,918
21.99
%
Customer 3
$
221,693
3.31
%
$
218,622
10.78
%
Property and Equipment
: Property
and equipment are stated at cost. Additions and major improvements are capitalized while maintenance and repairs are charged to
operations. Upon trade-in, sale or retirement of property and equipment, the related cost and accumulated depreciation are removed
from the accounts and any gain or loss is recognized. Depreciation is computed using the straight-line method and is recognized
over the estimated useful lives of the property and equipment, which range from one to seven years.
Valuation of Long-Lived Assets
:
The carrying values of the Company's long-lived assets are reviewed for impairment annually and whenever events or changes
in circumstances indicate that they may not be recoverable. When projections indicate that the carrying value of the long-lived
asset is not recoverable, the carrying value is reduced by the estimated excess of the carrying value over the projected discounted
cash flows. Under similar analysis no impairment charge was taken during the three months ended March 31, 2022 and 2021 or the
years ended December 31, 2021 and 2020. Impairment tests will be conducted on an annual basis and, should they indicate a carrying
value in excess of fair value, impairment charges may be required to be recognized and recorded.
Leases
: The Company, in
accordance with ASC 842, accounts for leases as right-of-use assets and lease liabilities on the balance sheet. We estimate our
incremental borrowing rate, which is defined as the interest rate we would pay to borrow on a collateralized basis, considering
such factors as length of lease term and the risks of the economic environment in which the leased asset operates. The lease term
used to calculate right-of-use assets and lease liabilities only includes renewal and termination options that are deemed reasonably
certain to be exercised.
42
Emerging Growth Company
We are an "emerging growth company,"
as defined in the JOBS Act. For so long as we remain an emerging growth company, we are permitted and intend to rely on exemptions
from specified disclosure requirements that are applicable to other public companies that are not emerging growth companies. These
exemptions include:
·
being permitted to provide only two years of audited financial statements, in addition to any required unaudited interim financial statements, with correspondingly reduced "
Management's Discussion and Analysis of Financial Condition and Results of Operations
" disclosure;
·
not being required to comply with the requirement of auditor attestation of our internal controls over financial reporting;
·
not being required to comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor's report providing additional information about the audit and the financial statements;
·
reduced disclosure obligations regarding executive compensation; and
·
not being required to hold a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.
We have taken advantage of certain reduced
reporting requirements in this prospectus. Accordingly, the information contained herein may be different than the information
you receive from other public companies in which you hold stock.
An emerging growth company can also take
advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised
accounting standards. This allows an emerging growth company to delay the adoption of certain accounting standards until those
standards would otherwise apply to private companies. We have irrevocably elected not to avail ourselves of this extended transition
period and, as a result, we will be required to adopt new or revised accounting standards on the dates on which adoption of such
standards is required for other public reporting companies.
We will remain an emerging growth company
until the earlier of (i) the last day of the fiscal year following the fifth anniversary of the date of the first sale of our common
stock pursuant to an effective registration statement under the Securities Act; (ii) the last day of the fiscal year in which we
have total annual gross revenues of $1.07 billion or more; (iii) the date on which we have issued more than $1 billion in nonconvertible
debt during the previous three years; or (iv) the date on which we are deemed to be a large accelerated filer under applicable
SEC rules. We expect that we will remain an emerging growth company for the foreseeable future but cannot retain our emerging growth
company status indefinitely and will no longer qualify as an emerging growth company on or before the last day of the fiscal year
following the fifth anniversary of the date of the first sale of our common stock pursuant to an effective registration statement
under the Securities Act.
43
BUSINESS
Overview
We operate a freight brokerage and transportation
business, providing comprehensive transportation management solutions for shippers and carriers.  Established in the early
1980s and headquartered in Salt Lake City, Utah, we deliver a one-stop freight management platform that connects shippers with
truckers to facilitate shipments across distance ranges, cargo weights, and types. We deliver value-driven logistics solutions
powered by effective technology and distinguished by personalized service built on solid relationships. We are building a next-generation
digital freight platform that we believe will transform the highly fragmented $1 trillion transportation and logistics sector.
Logistics is the lifeblood of our economy,
powering the movement of goods and connecting the engines of production and consumption. We aspire to revolutionize logistics,
improve efficiency across the value and supply chain and reduce the carbon footprint for our planet. Our goal is to leverage technology
to eliminate inefficiencies and create economic opportunity across the freight ecosystem. Our team is comprised of innovators seeking
to build the best products for all parties in the freight industry and to provide shippers and carriers with unparalleled transparency.
We also began operating a specialty financial
services business in 2019 that we believe will become a next-generation, end-to-end cloud-based financing platform for small and
medium sized companies primarily in the e-commerce marketplace.  By combining industry-leading technology and security with
the expertise and care of our team, we serve e-commerce business owners nationwide with efficiency, simplicity, transparency and
reliability by providing alternative financial products to help them grow. This same technology will also allow our freight brokerage
to offer quick pay and factoring services to their carrier and shippers, all with a one-click, simple process.
We are also in the process of developing
proprietary mobile applications and other transportation financial products which can be used by shippers, carriers and other freight
brokers.
Total revenue for the first three months
of 2022 was $12,233,724, a $7,644,643, or 166% increase over the $4,589,081 revenue for the first three months of 2021. Net income
for the first three months of 2022 was $900,385, an increase of $853,311 over the $47,074 net income for the first three months
of 2021.
Our total revenues increased by $13,985,964,
or 101%, to $27,897,504 for the year ended December 31, 2021 compared to the year ended December 31, 2020. Our net income increased
by $898,843, or 1,534%, to $957,421 for the year ended December 31, 2021 compared to the year ended December 31, 2020. Our freight
brokerage and transportation business accounted for approximately 97.92% and 96.83% of our revenues for the years ended December
31, 2021 and 2020, respectively.
Our Corporate History and Structure
Our Company was incorporated in Nevada
on October 12, 2021, for the purpose of being the holding company for our freight brokerage and logistics business and our recently
started specialty financial services business. WLP is the 100% owner of our Company. WLP is beneficially owned by family members
of S. Whitfield Lee, our Chairman of the Board, Chief Executive Officer and President. The WLP Board of Directors is comprised
of Chris Von Maack and Jon Davies, the sons-in-law of S. Whitfield Lee, and Whitfield Lee, the son of S. Whitfield Lee.
Our freight brokerage and logistics business
is operated through our wholly owned subsidiary, LeeWay Transportation. Our specialty financial services business is operated through
our wholly owned subsidiary, LeeWay Capital.
Previously, WLP was the 100% direct owner
of our freight and logistics companies: LeeWay Transportation, LeeWay Freight, LeeWay Logistics and one of our specialty financial
services companies: eCommerce Financing. WLP Capital, a wholly owned subsidiary of WLP, previously owned 100% of the shares of
LeeWay Capital.
In December 2021, we completed a corporate
reorganization. In connection with this reorganization, WLP transferred its 100% ownership in LeeWay Logistics and LeeWay Freight
to LeeWay Transportation pursuant to a share transfer agreement. As a result, LeeWay Transportation, while remaining a wholly owned
subsidiary of WLP, became the holding company for our freight brokerage and logistics business. LeeWay Capital became the holding
company for our recently started specialty financial services business by WLP transferring its 100% membership interest in eCommerce
Financing to LeeWay Capital, which was already the sole owner of eCommerce Funding. We became the holding company for LeeWay Transportation
and LeeWay Capital through a capital contribution from WLP of 100% of its equity in LeeWay Transportation and LeeWay Capital in
exchange for 30,000,000 shares of our common stock and 2,000 shares of our Super Voting Preferred Stock.
44
The following chart depicts our organizational
structure as of the date of this prospectus.
LeeWay Transportation was originally incorporated
as LeeWay Global Logistics, Inc. in the State of Nevada on July 1, 2015. LeeWay Logistics was formed in the State of Nevada on
July 1, 2015. LeeWay Freight was formed in the State of California on September 19, 1957. LeeWay Capital, Inc. was incorporated
in the State of Utah on September 25, 2014. eCommerce Financing was formed in the State of Utah on June 13, 2018. eCommerce Funding
was formed in the State of Utah on November 2, 2018.
Our Industry
Freight Brokerage Industry
The freight brokerage industry market in
the US is estimated to be approximately $156 billion for 2022. Freight brokerage is a variable cost industry that facilitates the
movement of freight by matching shippers' loads to third-party carriers. The truckload share, which is serviced by freight
brokers, has been increasing over the last several years. The industry is highly fragmented and there is a low level of market share
concentration, which is increasing because of merger and acquisition activity. It is believed that the top five freight brokers
capture less than 10% of the available market, and the total number of licensed freight brokers has increased over the past several
years. Most freight brokerage operations are small to medium-sized, and there are approximately 17,000 freight brokers operating
in the US. Additionally, barriers to entry have been growing as digital technology is increasingly becoming more important and
capital is needed to acquire and provide trailer pools for certain customers; these could be a differentiation factor for shippers
and carriers
45
The rise of ecommerce and on-demand customer
expectations, combined with structural challenges and changes needed in the supply chain because of the once-in-a-generation challenges
from COVID-19 and other factors, provides an incredible backdrop for continued innovation in the freight brokerage industry. We
are building a platform that will allow us to meet the dynamic needs of shippers and carriers now and in the future. The vast majority
of traditional freight brokers leverage a few relationships with shippers and carriers and match loads manually on a limited scale.
While this can be more efficient for shippers than procuring drivers and carriers themselves, these traditional brokers lack both
transparency and technology, relying on individual brokers, other office employees, paperwork, and phone calls to match loads and
trucks and track the load from origin to destination. As a result, there are significant issues in the marketplace including:
·
Inefficiency
. It is estimated that up to 30% of truck miles are driven empty each year. Truckers are paid on a loaded mile basis, so waiting time and dead-head miles (miles driven unloaded to pick up a load or to return home after delivering cargo) are costly to them. This inefficiency affects the viability of small- and medium-sized trucking businesses in particular. Current estimates are that up to 10 billion miles are driven empty each year
5
. These costs limit reinvestments back into trucking businesses and drive up the cost of consumer goods.
·
Transparency
.
Many brokers lack transparency, technology and automation. As a result, shippers often have little to no visibility on their loads and limited predictability on whether a broker will deliver at the agreed price and schedule.
·
Manual Processes
.
A typical load requires several steps which are traditionally processed manually, all of which create potential inefficiencies in pricing, bidding, building the load, matching load and carrier, scheduling pickup and delivery, tracking, and invoicing. This people-intensive process can lead to high processing costs and poor service and customer experience for both the carrier and shipper.
·
Capacity
.
The trucking industry has faced a chronic shortage of capacity because of a combination of factors. Current estimates are that there will be a shortage of 100,000 drivers by 2023
6
. Furthermore, COVID-19 has shown how susceptible supply chains are to large-scale shocks. Trucking company bankruptcies increased by 185% from 2019 to 2020
7
, which was largely a result of COVID-19. These shortages are one reason the transportation supply side has been and will continue to be a strategic focus for shippers.
5
https://convoy.com/blog/empty-miles-in-trucking/#FN6
6
https://deloitte.wsj.com/articles/economic-brief-whats-behind-the-truck-driver-shortage-01634755344
7
https://www.wsj.com/articles/trucking-failures-surged-last-year-under-pandemic-11612827527
46
The situation is only getting more difficult.
Shipper demands continue to rise, driven by a need for solutions that will bring better supply chain resiliency. At the same time,
carriers face driver shortages, long lead times for equipment, and other challenges, putting more economic pressure on their businesses.
The transportation ecosystem is being stretched to its limits, as evidenced by the ongoing marketplace and supply chain disruptions.
There is an urgent need for a solution that incorporates both deep industry expertise and the latest technology and data science
to help drive improved access, reliability, visibility, and resiliency.
ecommerce Industry
The ecommerce industry has existed since
the years following the creation of the internet. According to eMarketer global online sales are forecasted to grow by double
digits through 2023. They estimate worldwide ecommerce sales to be $6.169 trillion by 2023; however, ecommerce still will only
account for 22.3% of total retail sales
8
. Every element of commerce is moving online, from storefronts, to order fulfillment,
to payment and checkout experiences.
Ecommerce sellers increasingly prefer more
flexible and innovative digital financing solutions over traditional bank loans. A lack of transparencies by traditional financial
institutions, ranging from hidden penalties, hard-to-understand "fine print," and outdated underwriting processes,
has led to an erosion of trust and a poor client experience. These views are particularly acute for the over 160 million Gen Z
and Millennials in the U.S., who prefer to build trusted relationships with the brands with whom they engage and from whom they
buy products and services
9
.
Business owners are now turning to technology
oriented financial services companies they trust. According to a survey conducted by the Harris Poll in 2020, 64% of Americans
would consider purchasing or applying for financial products through a technology company's platform instead of a traditional
financial services provider. This sentiment rises to 81% for Americans aged between 18 and 34 years
10
.
For small business owners, when it comes
to the act of acquiring business capital, there are a number of shortcomings with existing options:
·
Complex
. The terms and conditions of traditional lenders are often opaque, complex, and difficult to understand, and business owners have to constantly be wary of what is buried in the fine print.
·
Predatory
. Transaction fees, obscure penalties, deferred or compounding interest, and hidden charges can snowball the true cost of a loan and trap a business in onerous debt spirals.
·
Misplaced credit risk
. Legacy credit models used by banks often use antiquated underwriting and risk management approaches that may be less capable of accurately assessing an ecommerce business, impeding eligible businesses from accessing much-needed capital in a rapid manner.
Our Business
Freight Brokerage and Logistics
We provide comprehensive transportation
management solutions for shippers and carriers. We are also in the process of developing proprietary applications and integrating
already developed applications as a part of the developing digital freight brokerage market.
We match shipper loads with carrier capacity,
which is primarily provided by small carriers and independent owner operators. The loads are primarily full truckload and often
need specialized trailers such as refrigeration or flatbeds in addition to dry vans. We use available transportation management
systems, which technology increases our ability to provide service. Service to the shipper and information to both the carrier
and the shipper is a major focus for the company. Approximately 97% of carriers in the U.S. operate twenty or fewer trucks, with
90% of those operating with six or fewer trucks. Good freight brokers are important to these carriers as a carrier partner in getting
their loads. We are working to develop proprietary transportation technology as a new crop of digital freight matching platforms
have begun to emerge over the past few years. Frost & Sullivan refers to this digital brokerage s trucking-as-a-service or
TaaS. This technology will provide the ability for the carriers to use mobile technology to increase service, visibility,
signature verification and provide instant account payable settlement, quick or instant pay, to the carrier.
47
Our two largest customers are McCain Foods
USA, Inc. ("Customer 1"), sales to whom accounted for 58.64% of our revenue in fiscal year 2021 and Ruan Transport
Corporation ("Customer 2"), sales to whom accounted for 15.83% of our revenue. During the three months ended March
31, 2022, these two customers accounted for 89.80% of revenue. The Company has entered into renewable contracts with both Customer
1 and Customer 2, the terms of which are described below.
The Company has entered into a non-exclusive
Food Transportation Services Agreement dated May 17, 2019 with McCain Foods USA, Inc. ("Customer 1") to provide non-exclusive
carrier and logistics services to Customer 1 through third-parties sub-contracted by the Company. The Company, however, must accept
98% of the loads tendered by Customer 1. The contract has a one-year term with automatic one-year renewals. Under the terms of
the contract, except with respect to trailers owned or leased by Customer 1, for which Customer 1 shall bear the costs of reasonable
wear and tear, the Company shall bear the full cost and expense of all fuel (including reefer fuel if any), oil, tires, parts,
road service, maintenance, and repair in connection with the use and operation of the equipment and which may be required to keep
the equipment in good repair, good mechanical condition, and in such condition as is necessary to be used in the transportation
of shipments subject to the contract. The Company may not transport cargo of any third party in or upon any trailer while loaded
with goods of Customer 1 without forfeiting all charges applicable to any shipment for which such an exclusive use was not provided.
The Company generally bears the risk of loss up to $150,000 per shipment unless Customer 1 declares additional value. The contract
may be terminated by either party at any time with 30 days' notice. In addition, Customer 1 may terminate the contract without
30 days' notice in certain circumstances that call into question our ability to perform our obligations under the contract,
including breaches of the representations and warranties by the Company, or if the Company becomes insolvent, or files for bankruptcy.
The Company entered into non-exclusive
Motor Transportation Contract with Customer 2 on November 15, 2017 to provide carrier and related services, as a co-broker
with Customer 2, whereby the Company provides third-party carriers and Customer 2 provides the third-party shippers. The term
of the contract is for one year and has automatic one-year renewals. Under the terms of the contract, the Company furnishes,
at its expense, through subcontracted carriers, suitable trucks, trailers, and manpower to transport the commodities tendered
and assumes all costs, expenses, and liabilities incident to or arising out of maintenance, repair, or operation of
equipment, as well as labor, fuel, insurance, and for accidents and agrees to hold harmless Customer 2, third-party shippers
and their customers from any and all costs, expenses, and liabilities. The Company is paid rates and charges set forth in the
Customer 2 Rate Confirmation and cannot use different rates without the approval of Customer 2 as prescribed by the contract.
The contract with Customer 2 may be terminated by either party at any time with 30 days' notice and after the
initial one-year term.
8
https://www.emarketer.com/content/worldwide-ecommerce-continues-double-digit-growth-following-pandemic-push-online
9
https://www.brookings.edu/blog/the-avenue/2020/07/30/now-more-than-half-of-americans-are-millennials-or-younger/
10
https://martechseries.com/analytics/b2b-data/ondots-harris-poll-reveals-consumers-open-receiving-financial-services-tech-companies/
48
Specialty Financial Services
We also began operating a specialty financial
services business in 2019 that we believe will become a next-generation, end-to-end cloud-based financing platform for small and
medium sized companies primarily in the e-commerce marketplace.  By combining industry-leading technology and security with
the expertise and care of our team, we serve e-commerce business owners nationwide with efficiency, simplicity, transparency and
reliability by providing alternative financial products to help them grow.
We are also in the process of developing
proprietary apps and other transportation financial products which can be used by shippers, carriers and other freight brokers.
We are a one-stop-shop for financial services
that allows ecommerce sellers access to business capital and financing. Our mission is to transform the way business lending works
in the ecommerce industry by making it efficient and convenient for e-tailers to access capital. Enabled by our proprietary technology
and analytics, we aggregate and analyze thousands of data points to assess the creditworthiness of ecommerce sellers rapidly and
accurately. We have developed financial products that offer the speed, convenience, and accessibility that only an integrated digital
platform can provide.
We have created an innovative financial
service platform that offers next-generation, end-to-end financial products designed to offer best-in-class services to our clients.
By leveraging and using modern technology and using a mission-driven approach, we can reinvent the small business loan experience
for online sellers. An automated, data-driven approach to credit assessment has largely replaced manual underwriting. Virtual wallets
and real-time payments have replaced traditional bank accounts and electronic transfers. We believe our innovative approach, based
on trust and our steadfast commitment to our core values, uniquely positions us to define the future of ecommerce business lending.
We predicate our Company on the principles of simplicity, transparency, and putting people first. This distinctive culture sets
us apart, as our principles are not just words on a wall, but how we — ecommerce Seller Financing — run
our business and design our products. By adhering to these principles, we have built enduring, trust-based relationships with online
sellers and merchants that we believe will set us up for long-term, sustainable success.
Our Technology
We believe that technology will be critical
to our success and is the cornerstone of our goal of driving innovation in the freight and logistics industry. We understand that
technology alone will not always provide a better solution if not balanced with a human and personal touch, coupled with a best-in-class
automated customer experience, and driven by interactive service management. As we continue to develop our digital freight platform,
we believe the following features can help provide a highly efficient and excellent customer experience:
·
Automated document management
. Using artificial intelligence and advanced analytics in order to automate the freight document process and lifecycle of a freight load and reduce the time-consuming costs associated with load paperwork.
·
Load Visibility and Transparency
. Using blockchain and GPS technology to develop track-and-trace solutions allowing for full visibility of shipments with real-time data. This will allow both shippers and carriers to understand how their shipment is performing and the shipment's location at any time.
·
Load Board and Freight Matching
. An online portal for carriers to find existing and open loads will be available to each of our carriers. Using API technologies, we will aggregate the data across multiple load boards to provide a one-stop solution for carriers. Based on a trucker's filter criteria, such as routes and truck types, our platform will identify potentially suitable shipping opportunities.
·
Freight Pricing
. We will develop proprietary artificial intelligence ("AI") and machine learning-based pricing models. The dynamic pricing will be based on various factors, such as distance, cargo weight, shipper demand, and trucker supply.
49
With respect to our financing platform,
we built our products on a next-generation, cloud-first platform engineered for data aggregation and management, which enables
us to leverage financial and payment data across all facets of our products, from fraud and pricing to personalization and repayment.
We designed our integrated platform to meet the financing needs of ecommerce sellers. A potential customer can complete an online
application 24 hours a day, 7 days a week. Our proprietary data and analytics engine aggregates and analyzes thousands of online
data attributes and the relationships among those attributes to assess the creditworthiness of a small business in real-time. We
offer our clients' financial products and services across multiple marketplaces, all on one common platform. To complement
these products and services, we believe in building vertically-integrated technology platforms designed to manage and deliver the
suite of our solutions to our clients in a low-cost and differentiated manner. Some of our financing technology features include:
·
Virtual Wallets
. This wallet will allow our clients to receive revenue from multiple sources and funds from their own bank. This will provide our clients with transparency and the ability for them to streamline payments to their suppliers around the world. This technology will also allow us to accept cross-border ecommerce payments.
·
Real-Time Payments
. With our eCommerce Seller Financing Card, our clients will access their marketplace earnings instantly. Using the debit payment rail, merchants will be able to transfer funds from their eCommerce Seller Financing virtual wallet to their bank account within seconds any time of the day, any day of the year, and even on weekends and holidays.
·
API
. Our platform aggregates and analyzes thousands of data points from dynamic, unique data sources, and the relationships among those attributes. This allows us to rapidly and accurately assess the growth prospects and cash flow consistency of each small business. Our credit decision system is automated, effectively eliminating human bias and failure in the decision-making process. The process and technological touchpoints are user-friendly, providing a fast, simple, and accurate user experience.
·
Scalability
. As revenue increases, our profitability and marketing budget would increase proportionally. This scaled marketing budget would allow us to purchase specific search terms and appear first in a variety of search term results on the major search engine platforms. We believe our advantage against traditional financing options and competition will fuel our success in the future, and the brand reputation and recognition will continue to spread throughout the e-commerce community and online marketplace. We can scale our business operations and services with ease, given the automated nature of our Company and its technological capabilities. Additionally, ecommerce sellers that historically could not get funding from a traditional source can now scale their business, thanks to eCommerce Seller Financing LLC. This symbiosis would provide greater opportunity throughout the marketplace not only for sellers but ultimately for end-users, capitalizing on growth opportunities.
·
Credit check capabilities
. Our risk model takes data inputs from multiple sources in order to assess the credit risk of each business loan transaction. Our algorithms model out the repayment probability and schedule on a month-to-month basis, and combine these probabilities with the term length, loan size, merchant, and items being sold, in order to price and score risk. In the vast majority of cases, we can complete these checks and calculations in a matter of minutes, automating the underwriting process pursuant to our underwriting policies.
50
We recently launched our new daily and spot financing
product, which is funding against the past days' sales rather than future sales. This product will also allow us to offer
quick pay funding within the transportation and freight brokerage industries.
Our Competition
The United States freight transportation
and logistics market is competitive and highly fragmented with the presence of many players. The industry is comprised of both
large national and international companies as well as smaller regional companies. This presents us with a unique opportunity for
growth and expansion but also exposes us to competitors from traditional companies, such as XPO Logistics and C. H. Robinson, as
well as to new and emerging digital freight brokers such as Uber Freight and Transfix. We understand that the traditional players
have and will continue to make significant development investments in digital services and product offerings, in addition to continued
technology investments by other digital freight brokers.
Leveraging our technology and management
team experience will allow us to provide competitive and transparent rates to both the carrier and the shipper. While we expect
strong competition from both traditional and digital competitors, we believe our technology, customer experience, and reputation
provide us with a meaningful and sustainable competitive advantage.
Our primary competition for our financial
services business is comprised of traditional banks, credit card companies, legacy merchant cash advance providers, and other technology-enabled
lenders. The small business lending market is competitive and fragmented. We believe the principal competitive factors that
generally determine a company's advantage in our market are:
·
ease of process to apply for a loan;
·
ability to verify borrower identities and accurately assess borrowers' credit risk profile;
·
brand recognition and trust;
·
loan features, including rate, term and pay-back method;
·
ability to compete on duration and simplicity of payment terms;
·
loan product fit for business purpose;
·
transparent description of key terms;
·
effectiveness of customer acquisition; and
·
quality of service
We believe we compete favorably based on
these factors and are well-positioned to succeed in the market. However, some of our competitors may have more advantages than
we have at present, such as a more diversified product offering, a larger marketplace base, operational efficiencies, the ability
to cross-subsidize their offerings through their other business lines, more versatile technology platforms, and lower-cost funding.
Our potential competitors may also have longer operating histories, more extensive and broader merchant relationships, and greater
brand recognition and brand loyalty than we have. In addition, other established companies that possess large, existing merchant
bases, substantial financial resources, or established distribution channels could also enter the market.
Our Competitive Advantages
Our people and value-added services play
an important role in increasing our client and customer retention. We will continue to increase the competitiveness of our existing
offerings by leveraging our data and growing our network of carriers and shippers. We also plan to expand our value-added service
offerings to better address and meet the needs of our clients. For example, we are working with LeeWay Capital to develop proprietary
transportation technology to allow the offering of quick pay and factoring to our carriers. We believe the following strengths
help in the development of digital freight marketplaces and to build a network-based business model:
·
Experienced Management Team
. Our management team has strategic and deep operational experience with demonstrated success in building freight brokerage companies.
·
Carrier and Shipper Partnerships
. Our value-led strategy has enabled us to establish strong relationships with carriers across the country. While we work with carriers of all sizes, we focus on small to mid-size carriers. This carrier network, combined with our data and technology, allows us to offer shippers an enterprise-grade offering as we match shipments at scale across a nationwide network of dependable carriers.
·
Proven, Strong, and
                                    Disciplined Growth
. We have proven our ability to grow both revenue and gross margin throughout
                                    a variety of challenging market environments. Our convincing performance proved the resiliency
                                    of our business model in 2020 and 2021 when we grew revenue by 68% for the year ended December
                                    31, 2020 and 101% for the year ended December 31, 2021, despite the market challenges presented
                                    by supply side problems and COVID-19. That momentum has carried into 2022, with the first
                                    three months showing a 166% increase in revenue compared to the initial three months of 2021.
                                    We believe we are well positioned to continue this vigorous growth into the future, given
                                    the robust demand in the market and our deepening relationships with new and existing shippers.
51
This ecommerce market allows for the potential of our
Company and platform to capitalize on the abundance of ecommerce businesses trying to succeed and scale, simultaneously helping
said companies to achieve fast and transparent funding and scaling opportunity.
The financial technology to underwrite
and approve applications quickly is a necessity to enable rapid scaling and acquisition of new customers. Our technology platform
aggregates and analyzes data points from multiple unique data sources and uses the latest in cloud-based technologies and other
modern tools to create a fast and seamless application and approval process. We prioritize building our own technology as we believe
this is an enduring competitive advantage that is difficult to replicate. This allows us to assess the growth prospects and cash
flow consistency of each small business and use machine-learning artificial intelligence to assist in the credit-making decision.
Once funded, the client has the ability
to monitor their account status through the client portal and can view the activity on their account instantaneously. The
Company's business operations and services is scalable without hiring a proportional number of people. The overall process
for the Company's prospects and customers is user-friendly, providing a transparent, simple, and accurate customer experience.
We believe two key competitive strengths
will continue to drive the success of our financial services business in the future:
·
Technology
.
Our platform aggregates and analyzes thousands of data points from dynamic, unique data sources, and the relationships among those attributes. This allows us to rapidly and accurately assess the growth prospects and cash flow consistency of each small business. Our credit decision system effectively eliminates human bias and failure in the decision-making process. The process and technological touchpoints are user-friendly, providing a fast, simple, and accurate user experience.
·
Scalability
. As revenue increases, our profitability and marketing budget will increase proportionally. This scaled marketing budget will allow us to continue to expand our brand reputation and recognition throughout the ecommerce community and online marketplaces. We can scale our business operations and services efficiently and effectively, given the automated nature of our Company and its technological capabilities. Additionally, ecommerce sellers that historically could not get funding from a traditional source can now scale their business, thanks to e-Commerce Seller Financing LLC. This symbiosis would provide greater opportunity throughout the marketplace not only for sellers, but ultimately for end-users, capitalizing on growth opportunities.
Our Growth Strategies
We plan to continue to offer the best service
and information available to our customers and carriers to build our core carrier network and our strategic client partnerships.
As we continue the development of our digital freight brokerage platform, we expect to source better rates, provide high-quality
service, and ensure predictable supply. This includes document control and document tracking from pickup to delivery, instant verification
of delivery, agreed-upon rates, and independent load boards. We will also be able to quickly establish shipper and carrier compliance
with the Department of Transportation and carrier safety record by utilizing API technology. Employing blockchain where possible
will facilitate a detailed record of every load and signature authentication. The technology will enable our growth to be scaled
in a highly efficient and effective manner.
We aim to attract shippers and truckers
to our platform through a combination of online and offline channels to grow our logistics network. We also plan to proactively
gain new shippers and truckers through our operations team, using their proven experience and expertise in the logistics industry
to rapidly scale products, features and sales as well as to provide support for shippers and truckers. By further refining our
user experience, we also aim to organically grow through word-of-mouth referrals. We will continue to enhance our freight matching
services and personalize our user experience, services, and operations based on the needs and preferences of each shipper and trucker.
This includes further standardizing order information and transaction processes and more precise profiling of shippers and truckers,
which is expected to enable more efficient freight matching. We anticipate that better user experience will drive shippers'
and truckers' engagement and increase their usage of more transactions and services on our platform. The key elements to
our strategy include:
·
Grow our logistics network
. We will strive to continue to build our core carrier network and our strategic client partnerships to drive network effects that both attract new carriers and shippers and retain them as long-term clients. Specifically, as we add more core carriers to our network, we expect to source better rates, provide higher-quality service, and ensure predictable supply. As the quality of the network increases, we expect to attract shippers with a consistent volume that is accurately matched to the business that carriers want.
52
·
Continue to invest in infrastructure and automation
. We will continue to invest in infrastructure development and technology to drive the logistics industry's development forward. We expect to make significant investments into further developing our abilities with respect to carrier payments, artificial intelligence, and data analytics in order to cater to a holistic set of shipper and trucker needs, creating value for them and thus enhancing our client retention.
·
Pursue strategic alliances, investments and acquisitions
.
We intend to pursue strategic alliances, investments and acquisitions that can enhance our market position, improve our core platform capabilities, broaden our service offerings, and strengthen our data and technology capabilities.
With respect to our financial services
business, our objective is to obtain a significant market share amongst online ecommerce companies that are looking to utilize
financing to sustain and grow their online ecommerce business. The key elements to our strategy include:
·
Build client loyalty
. We center our strategy around building trust and a lifetime relationship with our clients, which we believe will help build a sustainable competitive advantage. In order to deliver on our strategy, we must develop best-in-class unit economics and best-in-class products that build trust and reliability between our clients and our platform. We believe that will lead to us having a higher likelihood that they will continue to utilize our services to meet their financial needs in the future. This would result in delivering more revenue per client without incurring additional member acquisition costs, resulting in higher lifetime value per client.
·
Further invest and develop our technology platform
.   We are still at the beginning of our product roadmap and plan to continue to innovate and bring new financial products to market.
·
Increase the number of our partnerships
.   We believe we have the opportunity to significantly increase the number of integrated third-party partnerships on our network through both our dedicated sales team and B2B marketing efforts. Additionally, direct API integration means bringing on new partners is a seamless process.
·
Expand to new ecommerce marketplaces
.   We will continue to evaluate expanding our platform to new ecommerce markets. Merchants everywhere can benefit from a more transparent and fair way to acquire business capital, and we see an opportunity to generate value in many new markets through our platform.
Sales and Marketing
While our current value propositions attract
shippers and truckers organically to our platform, we will also engage in online marketing through various channels, including
popular search engines and social media platforms. By leveraging our data insights, we will optimize the efficiency of our marketing
activities and will acquire clients in a cost-effective manner. As we continue to deliver a better experience for both the shipper
and carrier through reliability, transparency, and service, our sales and marketing strategy continuously seeks to identify and
act on new opportunities to grow these relationships.
Our sales and marketing efforts for our
financial services business are designed to drive brand awareness and improve new client acquisition efficiency. We generate leads
through multiple marketing channels, including referrals and leads from existing customers, social media, online affiliations,
search engine optimization and search engine marketing. In the near to medium term, we foresee competition to acquire key merchants
rising. As a result, we plan to increase our marketing efforts in order to drive further brand awareness and preference among ecommerce
sellers.
53
Regulation
Our operations are regulated and licensed
by various U.S. federal and state governmental agencies. These regulations impact us directly and also indirectly when they regulate
third-party providers we arrange and/or contract with to transport freight for our customers.
Regulations Affecting Motor Carriers,
Owner-Operators and Transportation Brokers.
Our subsidiaries that operate as motor carriers, freight forwarders, and freight
transportation brokers are licensed by the Federal Motor Carrier Safety Administration ("FMCSA") of the U.S. Department
of Transportation ("DOT"). Our motor carrier subsidiaries and the third-party motor carriers we contract with in the
U.S. must comply with the safety and fitness regulations of the DOT, including those related to, without limitation, controlled
substances and alcohol, hours-of-service compliance, vehicle maintenance, hazardous materials compliance, driver fitness, unsafe
driving, and minimum insurance requirements, as well as the Compliance Safety Accountability ("CSA") program, which
uses a Safety Measurement System ("SMS") to rank motor carriers on seven categories of safety-related data, known as
Behavioral Analysis and Safety Improvement Categories ("BASICs"). Other federal and state agencies, such as the U.S.
Environmental Protection Agency ("EPA"), the U.S. Food and Drug Administration ("FDA"), the California
Air Resources Board ("CARB") and the U.S. Department of Homeland Security ("DHS"), also regulate our equipment,
operations, cargo and independent contractor drivers. We are also subject to a variety of vehicle registration and licensing requirements
in certain states and local jurisdictions where we operate, as are the third-party carriers with which we contract. We may become
subject to new or more restrictive regulations relating to emissions, drivers' hours-of-service, independent contractor eligibility
requirements, onboard reporting of operations, air cargo security and other matters affecting safety or operating methods.
Regulations affecting our financing
operations
. We are affected by laws and regulations that apply to commercial lending. This includes a range of laws, regulations
and standards that address information security, data protection, privacy, licensing and interest rates, among other things. However,
because we are only engaged in commercial lending and do not make any consumer loans or take deposits, we are subject to fewer
regulations than businesses involved in those activities.
State Lending Regulations
·
Interest Rate Regulations.
Although the federal government does not regulate the maximum
interest rates that may be charged on commercial loan transactions, some states have enacted commercial rate laws specifying the
maximum legal interest rate at which loans can be made in the state. We only originate commercial loans and do so under the laws
of Utah. Utah laws set the interest rate amounts depending on the type of loan involved. Overall, Utah's interest rate laws
set the maximum rate at 10% unless there is a contract. When a contract fails to specify an interest rate it will be set at 10%.
Utah does not have any other rate limitations on commercial loans. Our lending team is headquartered in Salt Lake City, Utah, and
that is where the commercial loan contacts are made. We are also going to provide financing services in New York and California.
All loans originated directly by us provide that they are to be governed by Utah law. With respect to loans where we intend to
work with a partner or issuing bank, the partner bank may utilize the law of the jurisdiction applicable to the bank in connection
with its commercial loans.
·
Licensing Requirements.
Our loans are governed by Utah law. Currently, Utah does not require
us to have licenses to operate our commercial loan program. However, recent changes to the Commercial Financing Registration and
Disclosure Act of the State of Utah that will be effective on January 1, 2023, will require us to be registered with the Department
of Financial Institutions and provide our customers with certain disclosures related to the terms of financing in order for us
to continue engaging in commercial financing transactions in Utah. We are not subject to the licensing laws of any other state.
In the future, we expect to engage
in commercial lending in California and New York. If that occurs, we will be required to obtain certain licenses in those states.
California Financing Law requires any company engaging in the business of making or brokering commercial loans, whether secured
by real or personal property or unsecured, to obtain the California Financing Law (CFL) license and provide its customers with
certain disclosures related to the terms of financing. Under Article 9 of the New York Banking Law, we would be required to obtain
a license in order to engage in the business of making loans in the principal amount of $50,000 dollars or less for business and
commercial loans. New York Commercial Finance Disclosure Law also requires commercial finance providers to give standardized,
consumer disclosures to borrowers in connection with financings in an amount equal to or less than $2,500,000.
54
Federal Lending Regulations
We are a commercial lender and as such
there are federal laws and regulations that affect our lending operations. These laws include, among others, portions of the Dodd
Frank Act, Anti-Money Laundering requirements (Bank Secrecy Act and USA PATRIOT Act), Equal Credit Opportunity Act, Fair Credit
Reporting Act, Privacy Regulations (Right to Financial Privacy Act), Telephone Consumer Protection Act, and requirements relating
to unfair, deceptive, or abusive acts or practices.
Other Regulations.
We are subject
to a variety of other U.S. federal, state, and local laws and regulations, including, but not limited to, the Foreign Corrupt Practices
Act and other anti-bribery and anti-corruption statutes, and export sanction laws. We are also subject to state and U.S. federal
laws and regulations addressing some types of cargo transported or stored by our subsidiaries, or transported pursuant to a government
contract or subcontract.
Classification of Independent Contractors.
U.S. tax and other federal and state regulatory authorities, as well as private litigants, continue to assert that independent
contractor drivers in the trucking industry are employees rather than independent contractors, while applying a variety of standards
in their determinations of independent contractor status. Federal legislators have introduced legislation in the past to make it
easier for tax and other authorities to reclassify independent contractors as employees, including legislation to increase the
recordkeeping requirements and heighten the penalties for companies that misclassify workers and are found to have violated overtime
or wage requirements. Additionally, federal legislators have sought to abolish the current safe harbor, which allows taxpayers
that meet certain criteria to treat individuals as independent contractors if they are following a longstanding, recognized practice.
Federal legislators have also sought to expand the Fair Labor Standards Act to cover "non-employees" who perform labor
or services for businesses, even if said non-employees are properly classified as independent contractors; to require taxpayers
to provide written notice to workers based upon their classification as either an employee or a non-employee; and to impose penalties
and fines for violations of the notice requirement or for misclassifications. Some states have launched initiatives to increase
tax revenues from items such as unemployment, workers' compensation and income taxes, and the reclassification of independent
contractors as employees could help states increase these revenues. In addition to these possible legislative changes, the National
Labor Relations Board ("NLRB") and NLRB's general counsel have signaled the desire to reverse several pro-employer
precedents in order to make it more difficult for a worker to be classified as an independent contractor by changing the factors
used in determining worker classification. The NLRB has also entered into a Memorandum of Understanding with the U.S. Department
of Labor regarding the exchange of information and cooperation in enforcement activities regarding the misclassification of employees
as independent contractors. If the independent contractor drivers that provide services to us are determined to be our employees,
we could incur additional exposure under some or all of the following: federal and state employer taxes, workers' compensation,
unemployment benefits, and labor, employment and tort laws, including for prior periods, as well as potential liability for employee
benefits and tax withholdings.
Environmental Regulations.
Our operations
and our independent contractors are subject to various environmental laws and regulations in the jurisdictions where we operate.
In the U.S., these laws and regulations deal with the hauling, handling and disposal of hazardous materials, emissions from vehicles,
engine-idling, fuel tanks and related fuel spillage and seepage, discharge and retention of storm water, and other environmental
matters that involve inherent environmental risks. We may be responsible for the cleanup of any spill or other incident involving
hazardous materials caused by our business. In the past, we have been responsible for the cost to clean up diesel fuel spills caused
by traffic accidents or other events, and none of these incidents materially affected our business or operations. We generally
transport only hazardous materials rated as low-to-medium-risk, and only a small percentage of our total loads contain hazardous
materials. We believe that our operations are in substantial compliance with current laws and regulations, and we do not know of
any existing environmental condition that reasonably would be expected to have a material adverse effect on our business or operating
results.
Intellectual Property
Our technology and platform are comprised
of various copyrightable and/or patentable subject matter owned and/or licensed by eCommerce Finance. Our intellectual property
assets additionally include trade secrets associated with the software platform. We successfully carried out development of our
cloud-based software platform to underwrite and approve applications quickly to enable rapid scaling and acquisition of new customers. Our
technology platform aggregates and analyzes data points from multiple unique data sources and uses the latest in cloud-based technologies
and other modern tools to create a fast and seamless application and approval process. We prioritize building our own technology
as we believe this is an enduring competitive advantage that is difficult to replicate. This allows us to assess the growth prospects
and cash flow consistency of each small business and use machine-learning artificial intelligence to assist in the credit-making
decision. As a result, we can monetize our software by providing our customers with easier and more straightforward way in obtaining
financing for their business needs.
55
With regard to exclusive and non-exclusive
licenses, there is a risk that these licenses could be construed in a manner that imposes unanticipated conditions or restrictions
on our platform. Additionally, if portions of our proprietary software are determined to be subject to an open-source license,
or if we do not correctly comply with the terms of the open-source software licenses applicable to our open-source software and
technology, it could result in costly litigation or lead to negative public relations.
Occasionally, we may be targeted with patent
infringement lawsuits or copyright infringement lawsuits. These cases may be brought by non-practicing entities that sustain themselves
by suing other companies. Currently, the Company is not aware of any patent or copyright infringement suits against it or contemplated
to be brought against it.
The Company is the owner of multiple registered
and common law trademarks in connection with its technology and its services. The names and marks "LeeWay Global Logistics",
and other trademarks, trade names, and service marks of the Company in this prospectus are the property of the Company or its subsidiaries.
LeeWay Transportation is the owner of the
registered trademarks "LeeWay Global Logistics" and "LW LeeWay Global Logistics" logo designs in connection
with freight logistics management and freight transportation brokerage. LeeWay Transportation has 6 trademarks currently registered
with the United States Patents and Trademark Office. The complete list of the Company's trademarks as of the date of this
prospectus is filed with the registration statement of which this prospectus forms a part.
This prospectus also contains additional
trademarks, trade names and service marks belonging to other companies. Solely for convenience, trademarks, trade names and service
marks referred to in this prospectus may appear without the ®, ™ or SM symbols, but such references are not intended
to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the right of the applicable
licensor to these trademarks, trade names and service marks. We do not intend our use or display of other parties' trademarks,
trade names, or service marks to imply, and such use or display should not be construed to imply, a relationship with, or endorsement
or sponsorship of us by, these other parties.
Employees
As of June 13, 2022, we had 22 full-time
employees and 3 part time employees in our Company and our wholly owned subsidiaries. Our operations are overseen directly by management.
Our management functions cover corporate administration, training, business development, technology, and research. We intend to
expand our current management to retain skilled employees with experience relevant to our business. We believe management's
relationship with our team is good. We do not have any collective bargaining agreements and our employees are not represented by
a union.
Properties
Our principal executive office is located
at 2150 South 1300 East, Suite 360, Salt Lake City, UT 84106. All our subsidiaries use this office as their principal executive
offices. Our total office space at the principal executive office is approximately 3,492 square feet. We believe our office space
is adequate for at least the next 12 months.
Pending Litigation
We may become involved in legal proceedings
or be subject to claims arising in the ordinary course of our business. We are not presently a party to any legal proceedings that
in the opinion of our management, if determined adversely to us, would individually or taken together have a material adverse effect
on our business, financial condition or results of operations. There is no action, suit, proceeding, inquiry or investigation before
or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of our executive
officers, threatened against or affecting our Company or our officers or directors in their capacities as such.
56
MANAGEMENT
The following are our executive officers
and directors and their respective ages and positions as of               ,
2022.
Name
Age
Position
S. Whitfield Lee
78
Chairman of the Board, Chief Executive Officer and President
Keith Merrell
76
Chief Financial Officer
Jim Dreyfous*
67
Independent Director Nominee
John Morrell  *
74
Independent Director Nominee
Charise Castagnoli, J.D.*
62
Independent Director Nominee
*
Director Nominees are appointed to the Board of Directors
automatically as of the date that
the Company's common stock is first listed on any nationally recognized stock
exchange.
S. Whitfield Lee
has served as our
Chairman of the Board, Chief Executive Officer and President since the time of our formation in October of 2021. Currently and
for more than thirty years prior to the Company's formation, Mr. Lee served as the CEO and President of LeeWay Global Logistics
since its formation in 2015 and CEO and President of WLP since its formation in 1984. Mr. Lee also is and has been since their
formation the CEO and President of all of our other operating subsidiaries. Each of these businesses share our business address.
Mr. Lee is a true entrepreneur, having started and operated numerous companies covering diverse industry segments during his business
career. Mr. Lee, after completing graduate school, worked in New York City as an analyst working on mergers and acquisitions. He
has leveraged the experience and knowledge he gained there to numerous business acquisitions of his own, in addition to the companies
he has founded. Mr. Lee has been involved on several boards, ranging from for-profit businesses to non-profit, education, medical,
political and athletics. He holds degrees from both Harvard and the Wharton School of Business.
57
We believe Mr. Lee is qualified to serve on our board
of directors due to his extensive experience in managing companies and historical knowledge of our Company.
Keith Merrell
has served as our
Chief Financial Officer since our formation in October of 2021. From 2017 to 2021, Mr. Merrell severed as the financial analyst
for WLP, who is our parent. From 2010 to 2017, Mr. Merrell served as controller for Transfac Capital, Inc., a wholly owned subsidiary
of WLP. Mr. Merrell draws on many years of accounting experience to manage our accounting functions and interface with our independent
public accountants. He spent two years in the field of public accounting and has served as Chief Financial Officer for four other
public companies and served on the Board of Directors of two public companies. His business career includes extensive experience
in management, sales and marketing, consulting, workouts, and merger and acquisition work. Mr. Merrell came to W.L.P. Corporation
in 2011. He graduated from Arizona State University with a B.S. degree in Accounting.
Jim Dreyfous
spent the early years
of his career in banking, small business and the oil and gas business. Mr. Dreyfous founded Pelion Venture Partners in 1986 and
served as its Managing Director until his retirement in 2014. Under his leadership Pelion grew from a regional venture capital
firm to a major national investor in early-stage technologies. The fund raised over $950M from investors and deployed that into
early-stage companies throughout the United States. Since retiring in 2014, Mr. Dreyfous has served as a board member on over twenty
companies, including public, private and charitable entities. From 2017 to the present, he has served as a board member for the
Utah Natural History Museum, Tracy Aviary, both nonprofit organizations, and Interior Worx LLC, a private business. Mr. Dreyfous
graduated from Middlebury College. We believe that Mr. Dreyfous's experience in banking and technologies business makes him
well qualified to serve on our Board and as an independent member of the Board's committees.
John Morrell
began his career with
Purolator Courier Corporation as a marketing analyst, rising to VP Marketing before leaving to become VP Sales for Wycoff, a transportation
company. Mr. Morrell has served as President of several private companies before being hired by a private equity group to do workouts.
Mr. Morrell has a wide range of experience on which to draw. Mr. Morrell semi-retired in 2011. Mr. Morrell has been employed by
Saddleback Fence and Vinyl Company as a management consultant from 2011 to the present. Since 2019 he has also served as President
of Costura LLC, a cutting and sewing operation which manufactures high-end products for the military and outdoor companies. Mr.
Morrell graduated from Manhattan College and received an MBA from Texas Christian University. We believe that Mr. Morrell's
experience in marketing and private equity makes him well qualified to serve on our Board and as an independent member of the Board's
committees.
Charise Castagnoli, J.D.
has, during
her career, experience in both the transportation and fintech industries. From 2015 to 2018, she served as a VP and General Counsel
of Trucker Path, Inc., which developed the leading mobile application for the truck driving community, and served as General Manager
for Instapay Flexible, LLC, a company founded to provide fast funding for truckers from 2018 through 2021. She also has extensive
experience and certifications in the cyber security industry. Mrs. Castagnoli received a B.A in Computer Science from The University
of California Berkeley and a J.D. degree from The University of Texas School of Law. We believe that Mrs. Castagnoli's experience
in transportation and fintech industries makes her well qualified to serve on our Board and as an independent member of the Board's
committees.
58
Code of Ethics
Our Board plans to adopt a written code
of business conduct and ethics (the "Code") that applies to our directors, officers and employees, including our principal
executive officer, principal financial officer and principal accounting officer or controller, or persons performing similar functions.
We intend to post on our website a current copy of the Code and all disclosures that are required by law in regard to any amendments
to, or waivers from, any provision of the Code.
Board Leadership Structure and Risk
Oversight
The Board oversees our business and considers
the risks associated with our business strategy and decisions. The Board currently implements its risk oversight function as a
whole. Each of the Board committees, as set forth below, will also provide risk oversight in respect of its areas of concentration
and reports material risks to the board for further consideration.
Board of Directors
Our business and
affairs are managed under the direction of our Board. Our Board consists of one member, who does not qualify as "independent"
under the listing standards of Nasdaq. As of
the date when
the Company's common stock is first listed on any nationally recognized stock exchange, our Board
will consist of four (4) members, three (3) of whom qualify as "independent" under the listing standards of Nasdaq.
Directors serve until the next annual meeting
and until their successors are elected and qualified. Officers are appointed to serve for one year until the meeting of the Board
following the annual meeting of shareholders and until their successors have been elected and qualified.
Director Independence
Prior to the closing of this initial public offering, the Board
will be composed of a majority of "independent directors" as defined under the rules of Nasdaq. We use the definition
of "
independence
" applied by Nasdaq to make this determination. Nasdaq Listing Rule 5605(a)(2) provides that
an "
independent director
" is a person other than an officer or employee of the company or any other individual
having a relationship which, in the opinion of the Board, would interfere with the exercise of independent judgment in carrying
out the responsibilities of a director. The Nasdaq listing rules provide that a director cannot be considered independent if:
·
the director is, or at any time during the past three (3) years was, an employee of the company;
·
the director or a family member of the director accepted any compensation from the company in excess of $120,000 during any period of twelve (12) consecutive months within the three (3) years preceding the independence determination (subject to certain exemptions, including, among other things, compensation for board or board committee service);
·
the director or a family member of the director is a partner in, controlling shareholder of, or an executive officer of an entity to which the company made, or from which the company received, payments in the current or any of the past three fiscal years that exceed 5% of the recipient's consolidated gross revenue for that year or $200,000, whichever is greater (subject to certain exemptions);
·
the director or a family member of the director is employed as an executive officer of an entity where, at any time during the past three (3) years, any of the executive officers of the company served on the compensation committee of such other entity; or
·
the director or a family member of the director is a current partner of the company's outside auditor, or at any time during the past three (3) years was a partner or employee of the company's outside auditor, and who worked on the company's audit.
59
Under such definitions, the Board has undertaken
a review of the independence of each director. Based on information provided by each director concerning his background, employment
and affiliations, the Board has determined that none of the current directors of the Company are independent directors of the Company.
However, our common stock is not currently quoted or listed on any national exchange or interdealer quotation system with a requirement
that a majority of our Board be independent and, therefore, the Company is not subject to any director independence requirements.
Committees
of the Board of Directors
Prior to the commencement of this initial
public offering, the Board plans to establish an audit committee, a compensation committee and a nominating and a corporate governance
committee. The Board has not yet adopted procedures by which stockholders may recommend nominees to the Board. The composition
and responsibilities of each of the committees of the Board is described below. Members will serve on these committees until their
resignation or until as otherwise determined by the Board.
Audit Committee
We will establish an audit committee consisting
of at least three directors, all of which will be "independent" as defined by NASDAQ and include an audit committee
financial expert within the meaning of Item 407(d) of Regulation S-K under the Securities Act. Our audit committee will consist
of               ,                
will be the Chairman of the audit committee. The audit committee's duties will be specified in a charter and include, but
not be limited to:
·
reviewing and discussing with management and the independent auditor the annual audited financial statements, and recommending to the board whether the audited financial statements should be included in our annual disclosure report;
·
discussing with management and the independent auditor significant financial reporting issues and judgments made in connection with the preparation of our financial statements;
·
discussing with management major risk assessment and risk management policies;
·
monitoring the independence of the independent auditor;
·
verifying the rotation of the lead (or coordinating) audit partner having primary responsibility for the audit and the audit partner responsible for reviewing the audit as required by law;
·
reviewing and approving all related party transactions;
·
inquiring and discussing with management our compliance with applicable laws and regulations;
·
pre-approving all audit services and permitted non-audit services to be performed by our independent auditor, including the fees and terms of the services to be performed;
·
appointing or replacing the independent auditor;
·
determining the compensation and oversight of the work of the independent auditor (including resolution of disagreements between management and the independent auditor regarding financial reporting) for the purpose of preparing or issuing an audit report or related work;
·
establishing procedures for the receipt, retention and treatment of complaints received by us regarding accounting, internal accounting controls or reports which raise material issues regarding our financial statements or accounting policies; and
·
approving reimbursement of expenses incurred by our management team in identifying potential target businesses.
The audit committee is composed exclusively
of "independent directors" who are "financially literate" as defined under the NASDAQ listing standards.
The NASDAQ listing standards define "financially literate" as being able to read and understand fundamental financial
statements, including a company's balance sheet, income statement and cash flow statement.
In addition, the Company intends to certify
to NASDAQ that the committee has, and will continue to have, at least one member who has past employment experience in finance
or accounting, requisite professional certification in accounting, or other comparable experience or background that results in
the individual's financial sophistication.
60
Compensation Committee
We will establish a compensation committee
which will consist of at least three directors, all of which will be "independent" as defined by               .
Our compensation committee will consist of , will be the Chairman of the committee. The compensation committee's duties will
be specified in a charter and will include, but not be limited to:
·
reviewing, approving and determining, or making recommendations to our board of directors regarding, the compensation of our executive officers;
·
administering our equity compensation plans;
·
reviewing and approving, or making recommendations to our board of directors, regarding incentive compensation and equity compensation plans; and
·
establishing and reviewing general policies relating to compensation and benefits of our employees.
Nominating and Corporate Governance Committee
We will establish a nominating and corporate
governance committee consisting of at least two directors, all of which will be "independent" as defined by               .
Our nominating and corporate governance committee will consist of               ,
                will be the Chairman of the committee.
The nominating and corporate governance committee's duties will be specified in a charter and will include, but not be limited
to:
·
identifying, reviewing and evaluating candidates to serve on our board of directors consistent with criteria approved by our board of directors;
·
evaluating director performance on our board of directors and applicable committees of our board of directors and determining whether continued service on our board of directors is appropriate;
·
evaluating nominations by stockholders of candidates for election to our board of directors; and
·
corporate governance matters.
Family Relationships
There are no family relationships among
any of our officers or directors.
Involvement in Certain Legal Proceedings
To our knowledge, none of our current directors
or executive officers has, during the past ten (10) years:
·
been convicted in a criminal proceeding or been subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);
·
had any bankruptcy petition filed by or against the business or property of the person, or of any partnership, corporation or business association of which he was a general partner or executive officer, either at the time of the bankruptcy filing or within two (2) years prior to that time;
·
been subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction or federal or state authority, permanently or temporarily enjoining, barring, suspending or otherwise limiting, his involvement in any type of business, securities, futures, commodities, investment, banking, savings and loan, or insurance activities, or to be associated with persons engaged in any such activity;
·
been found by a court of competent jurisdiction in a civil action or by the SEC or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated;
·
been the subject of, or a party to, any federal or state judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated (not including any settlement of a civil proceeding among private litigants), relating to an alleged violation of any federal or state securities or commodities law or regulation, any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order, or any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or
·
been the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.
61
EXECUTIVE COMPENSATION
Summary Compensation Table - Years Ended December 31, 2021
and 2020
The following table sets forth information
concerning all cash and non-cash compensation awarded to, earned by or paid to the named persons for services rendered in all capacities
during the noted periods. No executive officer received total annual salary and bonus compensation in excess of $100,000.
Name and Principal Position
Year
Salary($)
(1)
Total($)
S. Whitfield Lee
2021
$
12,000
$
12,000
Chairman, Chief Executive Officer and President
2020
$
12,000
$
12,000
(1) Paid by WLP
Outstanding Equity Awards at Fiscal Year-End
No executive officer named above had any
unexercised options, stock that has not vested or equity incentive plan awards outstanding as of December 31, 2021.
Additional Narrative Disclosure
Retirement Benefits
We have not maintained, and do not currently
maintain, a defined benefit pension plan or nonqualified deferred compensation plan. We currently make available a retirement plan
intended to provide benefits under Section 401(k) of the Code, pursuant to which employees, including the executive officers
named above, can make voluntary pre-tax contributions.
Potential Payments Upon Termination
or Change in Control
There are no arrangements or understandings
with our named executive officers above pursuant to which they are entitled to compensation upon termination or a change of control
of our Company.
Board Compensation
No member of the Board received any compensation
for their role as Board member during fiscal year ended December 31, 2021.
PRINCIPAL STOCKHOLDERS
The following table sets forth certain
information, as of June 13, 2022, with respect to the holdings of (1) each person who is the beneficial owner of more than 5% of
our voting stock, (2) each of our directors, (3) each executive officer, and (4) all of our current directors and executive officers
as a group.
Beneficial ownership of the voting stock
is determined in accordance with the rules of the SEC and includes any shares of Company voting stock over which a person exercises
sole or shared voting or investment power, or of which a person has a right to acquire ownership at any time within 60 days of
June 13, 2022. Except as otherwise indicated, we believe that the persons named in this table have sole voting and investment power
with respect to all shares of voting stock held by them. Applicable percentage ownership of common stock in the following table
is based on 30,000,000 shares of common stock issued and outstanding on June 13, 2022, and           
after the offering assuming a common stock offering of            shares (excluding
           shares which may be sold upon exercise of the underwriters'
over-allotment option), plus, for each individual, any securities that individual has the right to acquire within 60 days of June
13, 2022.
62
To the best of our knowledge, except as
otherwise indicated, each of the persons named in the table has sole voting and investment power with respect to the shares of
our common stock beneficially owned by such person, except to the extent such power may be shared with a spouse. To our knowledge,
none of the shares listed below are held under a voting trust or similar agreement, except as noted. To our knowledge, there is
no arrangement, including any pledge by any person of securities of the Company, the operation of which may at a subsequent date
result in a change in control of the Company.
Name and Address
of Beneficial Owner
(1)
Position of Beneficial
Owner
Beneficially
Owned
Percent of
Class
Before
Offering
Percent of
Class
After
Offering
Officers and Directors
S. Whitfield Lee
Chairman, Chief Executive Officer and President
—
—
Keith Merrell
Chief Financial Officer
—
—
Officers and Directors as a Group (total of 2 persons)
—
—
5% Stockholders
W.L.P. Corporation
(2)
30,000,000
100
%
100
%
(1)
Unless otherwise indicated, the principal address of the named officers and directors and 5% stockholders of the Company is c/o LeeWay Services, Inc., 2150 South 1300 East, Suite 360, Salt Lake City, UT 84106.
(2)
Held through W.L.P. Corporation, for which S. Whitfield Lee is
    the Chief Executive Officer. Mr. Lee has no voting or investment control over our common stock held by WLP. WLP's board
    of directors control the corporate investment activities of WLP. Mr. Lee is not a member of WLP's board of directors. The WLP Board of Directors is comprised of Chris Von Maack,
Jon Davies, the sons-in-law of S. Whitfield Lee, and Whitfield Lee, the son of S. Whitfield Lee.
We do not currently have any arrangements
which if consummated may result in a change of control of our Company.
CERTAIN RELATIONSHIPS AND RELATED PARTY
TRANSACTIONS
The following includes a summary of transactions
since the beginning of our 2020 fiscal year, or any currently proposed transaction, in which we were or are to be a participant
and the amount involved exceeded or exceeds the lesser of $120,000 or one percent of the average of our total assets at year-end
for the last two completed fiscal years, and in which any related person (as defined under Item 404 of Regulation S-K under the
Securities Act of 1933) had or will have a direct or indirect material interest (other than compensation described under "
Executive
Compensation
" above). We believe the terms obtained or consideration that we paid or received, as applicable, in connection
with the transactions described below were comparable to terms available or the amounts that would be paid or received, as applicable,
in arm's-length transactions.
On November 1, 2018, eCommerce Funding
entered into a note payable in the amount of $500,000 with SWL Investments, an Oklahoma limited partnership owned and operated
by S. Whitfield Lee, our Chairman, Chief Executive Officer and President, to provide operating funds to LeeWay Capital. On April
1, 2019, the note was amended to provide up to a total of $1,500,000 in funding under the note; it was further amended on January
1, 2022 to provide for up to $2,200,000 in funding and extend the maturity date. The note bears interest at the rate of 12% per
annum and has a maturity date of November 1, 2027. Under the terms of the note the interest is to be accrued and is due and payable
with the principal on the maturity date. Funds are drawn against this note as required to fund the operations and business activities
of our Company. At March 31, 2022 and 2021 the funds drawn against this note were $1,516,895 and $1,723,555, respectively. As of
June 13, 2022, the outstanding note balance is $1,789,566.
63
DESCRIPTION
OF SECURITIES
The following summary description sets
forth some of the general terms and provisions of our capital stock. Because this is a summary description, it does not contain
all of the information that may be important to you. For a more detailed description of our capital stock, you should refer to
the applicable provisions of Nevada law, our charter and our bylaws as currently in effect. Copies of our articles of incorporation,
as amended, and our bylaws are included as exhibits to the registration statement of which this prospectus forms a part.
General
We are incorporated in the State of Nevada.
The rights of our shareholders are generally covered by Nevada law and our articles of incorporation and bylaws. The terms of our
capital stock are therefore subject to Nevada law, including the Nevada Revised Statues, and the common and constitutional law
of Nevada.
The total number of shares of stock which
the Company is authorized to issue is 200,000,000 shares of capital stock, consisting of 180,000,000 shares of common stock, $0.001
par value per share, and 20,000,000 shares of preferred stock, $0.001 par value per share.
As of June 13, 2022, we have 30,000,000
shares of common stock and 2,000 shares of preferred stock and issued and outstanding held by 1 stockholder of record.
Common Stock
The holders of our common stock are entitled
to the following rights:
Voting Rights
. Each share
of our common stock entitles its holder to one vote per share on all matters to be voted or consented upon by the stockholders.
Holders of our common stock are not entitled to cumulative voting rights with respect to the election of directors.
Dividend Rights
. Subject
to limitations under Nevada law and preferences that may apply to any shares of preferred stock that we may decide to issue in
the future, holders of our common stock are entitled to receive ratably such dividends or other distributions, if any, as may be
declared by our Board out of funds legally available therefor.
Liquidation Rights
. In the
event of the liquidation, dissolution or winding up of our business, the holders of our common stock are entitled to share ratably
in the assets available for distribution after the payment of all of our debts and other liabilities, subject to the prior rights
of the holders of our preferred stock.
Other Matters
. The holders
of our common stock have no subscription, redemption or conversion privileges. Our common stock does not entitle its holders to
preemptive rights. All of the outstanding shares of our common stock are fully paid and non-assessable. The rights, preferences
and privileges of the holders of our common stock are subject to the rights of the holders of shares of any series of preferred
stock which we may issue in the future.
Preferred Stock
Series X Super Voting Preferred Stock
On February 3, 2022, we filed a certificate
of designation with the Nevada Secretary of State to establish our Series X Super Voting Preferred Stock ("Super Voting
Preferred Stock"). We designated a total of 2,000 shares of our preferred stock as Super Voting Preferred Stock. Our
Super Voting preferred stock has the following voting powers, designations, preferences and relative rights, qualifications, limitations
or restrictions:
Voting Rights
. Each share
of Super Voting Preferred Stock entitles the holder to 10,000 votes per share. Except as required by law, the holders of Super
Voting Preferred Stock vote with our common stock as a single class on all matters to be voted or consented upon by the stockholders.
Dividend Rights
. The holders
of our Super Voting Preferred Stock are not entitled to participate in dividends paid on our common stock.
On April 7, 2022 we filed the Certificate
of Amendment to Designation with the Nevada Secretary of State which causes each share of Super Voting Preferred Stock to automatically
convert into one share of the common stock of the Company on the date the common stock of the Company is first listed on any nationally
recognized stock exchange. Upon such conversion, the number of shares designated as Super Voting Preferred Stock shall be reduced
to zero.
64
Liquidation Rights
. The holders
of our Super Voting Preferred Stock are not entitled to any liquidation preference.
Other Matters
. The holders
of our Super Voting Preferred Stock have no redemption or conversion privileges and are not entitled to any participation or preemptive
rights.
Additional Preferred Stock
Our Board has the authority to issue additional
preferred stock in one or more classes or series and to fix the designations, powers, preferences and rights, and the qualifications,
limitations or restrictions thereof including dividend rights, dividend rates, conversion rights, voting rights, terms of redemption,
redemption prices, liquidation preferences and the number of shares constituting any class or series, without further vote or action
by the stockholders.
While we do not currently have any plans
for the issuance of any additional preferred stock, the issuance of additional preferred stock could adversely affect the rights
of the holders of common stock and, therefore, reduce the value of the common stock. It is not possible to state the actual effect
of the issuance of any shares of preferred stock on the rights of holders of the common stock until the Board of Directors determines
the specific rights of the holders of the preferred stock; however, these effects may include:
•
Restricting dividends on the common stock;
•
Diluting the voting power of the common stock;
•
Impairing the liquidation rights of the common stock; or
•
Delaying or preventing a change in control of the Company without further action by the stockholders
Warrants and Options
We have not issued any warrants to purchase
or options exercisable for our capital stock.
Anti-Takeover Effects of Nevada Law
Business Combinations
The "business combination"
provisions of Sections 78.411 to 78.444, inclusive, of the
Nevada Revised Statutes
("NRS") generally prohibit
a Nevada corporation with at least 200 stockholders from engaging in various "combination" transactions with any interested
stockholder for a period of two years after the date of the transaction in which the person became an interested stockholder, unless
the transaction is approved by the board of directors prior to the date the interested stockholder obtained such status or the
combination is approved by the board of directors and thereafter is approved at a meeting of the stockholders by the affirmative
vote of stockholders representing at least 60% of the outstanding voting power held by disinterested stockholders, and extends
beyond the expiration of the two-year period, unless:
•
the combination was approved by the board of directors prior to the person becoming an interested stockholder or the transaction by which the person first became an interested stockholder was approved by the board of directors before the person became an interested stockholder or the combination is later approved by a majority of the voting power held by disinterested stockholders; or
•
if the consideration to be paid by the interested stockholder is at least equal to the highest of: (a) the highest price per share paid by the interested stockholder within the two years immediately preceding the date of the announcement of the combination or in the transaction in which it became an interested stockholder, whichever is higher, (b) the market value per share of common stock on the date of announcement of the combination and the date the interested stockholder acquired the shares, whichever is higher, or (c) for holders of preferred stock, the highest liquidation value of the preferred stock, if it is higher.
65
A "combination" is generally
defined to include mergers or consolidations or any sale, lease exchange, mortgage, pledge, transfer, or other disposition, in
one transaction or a series of transactions, with an "interested stockholder" having: (a) an aggregate market value
equal to 5% or more of the aggregate market value of the assets of the corporation, (b) an aggregate market value equal to 5% or
more of the aggregate market value of all outstanding shares of the corporation, (c) 10% or more of the earning power or net income
of the corporation, and (d) certain other transactions with an interested stockholder or an affiliate or associate of an interested
stockholder.
In general, an "interested stockholder"
is a person who, together with affiliates and associates, owns (or within two years, did own) 10% or more of a corporation's
voting stock. The statute could prohibit or delay mergers or other takeover or change in control attempts and, accordingly, may
discourage attempts to acquire our Company even though such a transaction may offer our stockholders the opportunity to sell their
stock at a price above the prevailing market price.
Control Share Acquisitions
The "control share" provisions
of Sections 78.378 to 78.3793, inclusive, of the NRS apply to "issuing corporations" that are Nevada corporations with
at least 200 stockholders, including at least 100 stockholders of record who are Nevada residents, and that conduct business directly
or indirectly in Nevada. The control share statute prohibits an acquirer, under certain circumstances, from voting its shares of
a target corporation's stock after crossing certain ownership threshold percentages, unless the acquirer obtains approval
of the target corporation's disinterested stockholders. The statute specifies three thresholds: one-fifth or more but less
than one-third, one-third but less than a majority, and a majority or more, of the outstanding voting power. Generally, once an
acquirer crosses one of the above thresholds, those shares in an offer or acquisition and acquired within 90 days thereof become
"control shares" and such control shares are deprived of the right to vote until disinterested stockholders restore
the right. These provisions also provide that if control shares are accorded full voting rights and the acquiring person has acquired
a majority or more of all voting power, all other stockholders who do not vote in favor of authorizing voting rights to the control
shares are entitled to demand payment for the fair value of their shares in accordance with statutory procedures established for
dissenters' rights.
A corporation may elect to not be governed
by, or "opt out" of, the control share provisions by making an election in its articles of incorporation or bylaws,
provided that the opt-out election must be in place on the 10th day following the date an acquiring person has acquired a controlling
interest, that is, crossing any of the three thresholds described above. We have not opted out of the control share statutes, and
will be subject to these statutes if we are an "issuing corporation" as defined in such statutes.
The effect of the Nevada control share
statutes is that the acquiring person, and those acting in association with the acquiring person, will obtain only such voting
rights in the control shares as are conferred by a resolution of the stockholders at an annual or special meeting. The Nevada control
share law, if applicable, could have the effect of discouraging takeovers of our Company.
Transfer Agent and Registrar
The transfer agent and registrar for our common stock will be
Vstock Transfer LLC.
Listing
We have applied to have our common stock listed on the Nasdaq
Capital Market under the symbol "          " which listing is a condition
to this offering.
SHARES
ELIGIBLE FOR FUTURE SALE
There is not currently an established U.S.
trading market for our common stock. We cannot predict the effect, if any, that market sales of shares of our common stock or the
availability of shares of our common stock for sale will have on the market price of our common stock prevailing from time to time.
Sales of substantial amounts of our common stock in the public market after this offering, could adversely affect market prices
prevailing from time to time and could impair our ability to raise capital through the sale of our equity securities.
Upon completion of the sale of           
shares of common stock pursuant to this offering, we will have            shares
of common stock issued and outstanding. In the event the underwriters exercise the over-allotment option in full, we will have
           shares of common stock issued and outstanding. The common stock sold
in this offering will be freely tradable without restriction or further registration or qualification under the Securities Act.
Previously issued shares of common stock
that were not offered and sold in this offering, are or will be upon issuance, "restricted securities," as that term
is defined in Rule 144 under the Securities Act. These restricted securities are eligible for public sale only if such public resale
is registered under the Securities Act or if the resale qualifies for an exemption from registration under Rule 144 under the Securities
Act, which are summarized below.
66
In general, a person who has beneficially
owned restricted shares of our common stock for at least six months in the event we have been a reporting company under the Exchange
Act for at least ninety (90) days before the sale, would be entitled to sell such securities, provided that such person is not
deemed to be an affiliate of ours at the time of sale or to have been an affiliate of ours at any time during the ninety (90) days
preceding the sale. A person who is an affiliate of ours at such time would be subject to additional restrictions, by which such
person would be entitled to sell within any three-month period only a number of shares that does not exceed the greater of the
following:
·
1% of the number of shares of our common stock then outstanding; or
·
1% of the average weekly trading volume of our common stock during the four calendar weeks preceding the filing by such person of a notice on Form 144 with respect to the sale;
provided that, in each case, we are subject
to the periodic reporting requirements of the Exchange Act for at least 90 days before the sale. Rule 144 trades must also comply
with the manner of sale, notice and other provisions of Rule 144, to the extent applicable.
Lock-Up Agreements
We, all of our directors and officers and
all of our stockholders have agreed with the underwriters, subject to certain exceptions, not to sell, transfer or dispose of,
directly or indirectly, any of our common stock or securities convertible into or exercisable or exchangeable for our common stock
for a period of (i) 180 days after the date of this prospectus in the case of our Company, (ii) 12 months after the date of
this prospectus in the case of our directors and officers, and (iii) 180 days after the date of this prospectus in the case of
our stockholders. For additional information regarding our arrangement with the underwriters, please see "
Underwriting—Lock-Up
Agreements
."
67
MATERIAL
U.S. FEDERAL INCOME TAX CONSIDERATIONS FOR NON-U.S. HOLDERS
The following is a summary of the material
United States federal income tax consequences of the purchase, ownership and disposition of our common stock that is being issued
pursuant to this offering. This summary is limited to Non-U.S. Holders (as defined below) that hold our common stock as a capital
asset (generally, property held for investment) for United States federal income tax purposes. This summary does not discuss all
of the aspects of United States federal income taxation that may be relevant to a Non-U.S. Holder in light of the Non-U.S. Holder's
particular investment or other circumstances. Accordingly, all prospective Non-U.S. Holders should consult their own tax advisors
with respect to the United States federal, state, local and non-United States tax consequences of the purchase, ownership and disposition
of our common stock.
This summary is based on provisions of
the Code, applicable United States Treasury regulations and administrative and judicial interpretations, all as in effect or in
existence on the date of this prospectus. Subsequent developments in United States federal income tax law, including changes in
law or differing interpretations, which may be applied retroactively, could alter the United States federal income tax consequences
of owning and disposing of our common stock as described in this summary. There can be no assurance that the IRS will not take
a contrary position with respect to one or more of the tax consequences described herein and we have not obtained, nor do we intend
to obtain, a ruling from the IRS with respect to the United States federal income tax consequences of the ownership or disposition
of our common stock.
As used in this summary, the term "Non-U.S.
Holder" means a beneficial owner of our common stock that is not, for United States federal income tax purposes:
·
an individual who is a citizen or resident of the United States;
·
a corporation (or other entity treated as a corporation) created or organized in or under the laws of the United States, any state thereof, or the District of Columbia;
·
an entity or arrangement treated as a partnership;
·
an estate whose income is includible in gross income for United States federal income tax purposes regardless of its source; or
·
a trust, if (1) a United States court is able to exercise primary supervision over the trust's administration and one or more "United States persons" (within the meaning of the Code) has the authority to control all of the trust's substantial decisions, or (2) the trust has a valid election in effect under applicable United States Treasury regulations to be treated as a United States person.
If an entity or arrangement treated as
a partnership for United States federal income tax purposes holds our common stock, the tax treatment of a partner in such a partnership
generally will depend upon the status of the partner, the activities of the partnership and certain determinations made at the
partner level. Partnerships, and partners in partnerships, that hold our common stock should consult their own tax advisors as
to the particular United States federal income tax consequences of owning and disposing of our common stock that are applicable
to them.
This summary does not consider any specific
facts or circumstances that may apply to a Non-U.S. Holder, including the impact of the Medicare contribution tax on net investment
income and the alternative minimum tax, and does not address any special tax rules that may apply to particular Non-U.S. Holders,
including, without limitation:
·
a Non-U.S. Holder that is a financial institution, insurance company, tax-exempt organization, pension plan, broker, dealer or trader in stocks or securities, foreign currency dealer, U.S. covered expatriate, controlled foreign corporation or passive foreign investment company;
·
a Non-U.S. Holder holding our common stock as part of a conversion, constructive sale, wash sale or other integrated transaction or a hedge, straddle or synthetic security;
·
a Non-U.S. Holder that holds or receives our common stock pursuant to the exercise of any employee stock option or otherwise as compensation; or
·
a Non-U.S. Holder that at any time owns, directly, indirectly or constructively, 5% or more of our outstanding common stock.
In addition, this summary does not address
any U.S. state or local, or non-U.S. or other tax consequences, or any United States federal income tax consequences for beneficial
owners of a Non-U.S. Holder, including stockholders of a controlled foreign corporation or passive foreign investment company that
holds our common stock. This summary also does not address the effects of other United States federal tax laws, such as estate
and gift tax laws.
68
Each Non-U.S. Holder should consult
its tax advisor regarding the United States federal, state, local and non-U.S. income and other tax consequences of owning and
disposing of our common stock.
Distributions
We do not currently expect to pay any cash
dividends on our common stock. If we make distributions of cash or property (other than certain pro rata distributions of our common
stock) with respect to our common stock, any such distributions generally will constitute dividends for United States federal income
tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under United States federal
income tax principles. If a distribution exceeds our current and accumulated earnings and profits, the excess will be treated as
a nontaxable return of capital to the extent of the Non-U.S. Holder's adjusted tax basis in its common stock and will reduce
(but not below zero) such Non-U.S. Holder's adjusted tax basis in its common stock. Any remaining excess will be treated
as gain from a disposition of our common stock subject to the tax treatment described below in "
—Dispositions of
Our Common Stock
."
Subject to the discussion below on effectively
connected income, dividends paid to a Non-U.S. Holder of our common stock will be subject to United States federal withholding
tax at a rate of 30% of the gross amount of the dividends (or such lower rate specified by an applicable income tax treaty, provided
the Non-U.S. Holder furnishes a valid IRS Form W-8BEN or W-8BEN-E (or other applicable documentation) certifying qualification
for the lower treaty rate).
Distributions on our common stock that
are treated as dividends and that are effectively connected with a Non-U.S. Holder's conduct of a trade or business in the
United States will be taxed on a net income basis at the regular graduated rates and in the manner applicable to U.S. persons.
An exception may apply if the Non-U.S. Holder is eligible for, and properly claims, the benefit of an applicable income tax treaty
and the dividends are not attributable to a permanent establishment or fixed base maintained by the Non-U.S. Holder in the United
States. In such case, the Non-U.S. Holder may be eligible for a lower rate under an applicable income tax treaty between the United
States and its jurisdiction of tax residence. Dividends that are effectively connected with a Non-U.S. Holder's conduct of
a trade or business in the United States will not be subject to the United States withholding tax if the Non-U.S. Holder provides
to the applicable withholding agent a properly executed IRS Form W-8ECI (or other applicable form) in accordance with the applicable
certification and disclosure requirements. A Non-U.S. Holder treated as a corporation for United States federal income tax purposes
may also be subject to a "branch profits tax" at a 30% rate (unless the Non-U.S. Holder is eligible for a lower rate
under an applicable income tax treaty) on the Non-U.S. Holder's earnings and profits (attributable to dividends on our common
stock or otherwise) that are effectively connected with the Non-U.S. Holder's conduct of a trade or business within the United
States.
The IRS Forms and other certifications
described above must be provided to the applicable withholding agent prior to the payment of dividends and must be updated periodically.
A Non-U.S. Holder may obtain a refund or credit of any excess amounts withheld by timely filing an appropriate claim for a refund
with the IRS in the form of a U.S. tax return. Non-U.S. Holders should consult their tax advisors regarding their eligibility for
benefits under a relevant income tax treaty and the manner of claiming such benefits.
The foregoing discussion is subject to
the discussions below under "
—Backup Withholding and Information Reporting
" and "
—FATCA
Withholding
."
Dispositions of Our Common Stock
A Non-U.S. Holder generally will not be
subject to United States federal income tax (including United States withholding tax) on gain recognized on any sale or other disposition
of our common stock unless:
·
the gain is effectively connected with the Non-U.S. Holder's conduct of a trade or business in the United States (and, if required by an applicable income tax treaty, is attributable to a permanent establishment or fixed base maintained by the Non-U.S. Holder in the United States); in this case, the gain will be subject to United States federal income tax on a net income basis at the regular rates and in the manner applicable to United States persons (unless an applicable income tax treaty provides otherwise) and, if the Non-U.S. Holder is treated as a corporation for United States federal income tax purposes, the "branch profits tax" described above may also apply;
·
the Non-U.S. Holder is an individual who is present in the United States for 183 days or more in the taxable year of the disposition and meets certain other requirements; in this case, except as otherwise provided by an applicable income tax treaty, the gain, which may be offset by certain United States source capital losses (provided the Non-U.S. Holder has timely filed United States federal income tax returns with respect to such losses), generally will be subject to a flat 30% United States federal income tax, even if the Non-U.S. Holder is not treated as a resident of the United States under the Code; or
69
·
we are or have been a "United States real property holding corporation" for United States federal income tax purposes at any time during the shorter of (i) the five-year period ending on the date of disposition and (ii) the period that the Non-U.S. Holder held our common stock.
Generally, a corporation is a "United
States real property holding corporation" if the fair market value of its "United States real property interests"
equals or exceeds 50% of the sum of the fair market value of its worldwide real property interests plus its other assets used or
held for use in a trade or business. We believe that we are not currently, and we do not anticipate becoming in the future, a United
States real property holding corporation. However, because the determination of whether we are a United States real property holding
corporation is made from time to time and depends on the relative fair market values of our assets, there can be no assurance in
this regard. If we were a United States real property holding corporation, the tax relating to disposition of stock in a United
States real property holding corporation generally will not apply to a Non-U.S. Holder whose holdings, direct, indirect and constructive,
constituted 5% or less of our common stock at all times during the applicable period, provided that our common stock is "regularly
traded on an established securities market" (as provided in applicable United States Treasury regulations) at any time during
the calendar year in which the disposition occurs. However, no assurance can be provided that our common stock will be regularly
traded on an established securities market for purposes of the rules described above. Non-U.S. Holders should consult their tax
advisors regarding the possible adverse United States federal income tax consequences to them if we are, or were to become, a United
States real property holding corporation.
The foregoing discussion is subject to
the discussions below under "
—Backup Withholding and Information Reporting
" and "
—FATCA
Withholding
."
Backup Withholding and Information Reporting
Backup withholding (currently at a rate
of 24%) will not apply to payments of dividends on our common stock to a Non-U.S. Holder if the Non-U.S. Holder provides to the
applicable withholding agent a properly executed IRS Form W-8BEN or W-8BEN-E (or other applicable form) certifying under penalties
of perjury that the Non-U.S. Holder is not a United States person or is otherwise entitled to an exemption. However, the applicable
withholding agent generally will be required to report to the IRS (and to such Non-U.S. Holder) payments of distributions on our
common stock and the amount of United States federal income tax, if any, withheld from those payments, regardless of whether such
distributions constitute dividends. In accordance with applicable treaties or agreements, the IRS may provide copies of such information
returns to the tax authorities in the country in which the Non-U.S. Holder resides.
The gross proceeds from sales or other
dispositions of our common stock may be subject, in certain circumstances discussed below, to United States backup withholding
and information reporting. If a Non-U.S. Holder sells or otherwise disposes of our common stock outside the United States through
a non-United States office of a non-United States broker and the disposition proceeds are paid to the Non-U.S. Holder outside the
United States, then the United States backup withholding and information reporting requirements generally will not apply to that
payment. However, United States information reporting, but not United States backup withholding, will apply to a payment of disposition
proceeds, even if that payment is made outside the United States, if a Non-U.S. Holder sells our common stock through a non-United
States office of a broker that is a United States person or has certain enumerated connections with the United States, unless the
broker has documentary evidence in its files that the Non-U.S. Holder is not a United States person and certain other conditions
are met or the Non-U.S. Holder otherwise qualifies for an exemption.
If a Non-U.S. Holder receives payments
of the proceeds of a disposition of our common stock to or through a United States office of a broker, the payment will be subject
to both United States backup withholding and information reporting unless the Non-U.S. Holder provides to the broker a properly
executed IRS Form W-8BEN or W-8BEN-E (or other applicable form) certifying under penalties of perjury that the Non-U.S. Holder
is not a United States person, or the Non-U.S. Holder otherwise qualifies for an exemption.
Backup withholding is not an additional
tax. Any amounts withheld under the backup withholding rules may be credited against the Non-U.S. Holder's United States
federal income tax liability (which may result in the Non-U.S. Holder being entitled to a refund), provided that the required information
is timely furnished to the IRS.
FATCA Withholding
The Foreign Account Tax Compliance Act
and related Treasury guidance (commonly referred to as FATCA) impose United States federal withholding tax at a rate of 30% on
payments to certain foreign entities of (i) U.S. source dividends (including dividends paid on our common stock) and (ii) (subject
to the proposed Treasury Regulations discussed below) the gross proceeds from the sale or other disposition of property that produces
U.S. source dividends (including sales or other dispositions of our common stock). This withholding tax applies to a foreign entity,
whether acting as a beneficial owner or an intermediary, unless such foreign entity complies with (i) certain information
reporting requirements regarding its United States account holders and its United States owners and (ii) certain withholding
obligations applicable to certain payments to its account holders and certain other persons. Accordingly, the entity through which
a Non-United States Holder holds its common stock will affect the determination of whether such withholding is required. Foreign
financial institutions located in jurisdictions that have an intergovernmental agreement with the United States governing FATCA
may be subject to different rules.
70
Under the applicable Treasury Regulations
and administrative guidance, withholding under FATCA generally will apply to payments of dividends on our common stock. While withholding
under FATCA would have applied also to payments of gross proceeds from the sale or other disposition of stock on or after January
1, 2019, proposed Treasury Regulations eliminate FATCA withholding on payments of gross proceeds. Taxpayers generally may rely
on these proposed Treasury Regulations until final Treasury Regulations are issued.
Non-U.S. Holders are encouraged to consult
their tax advisors regarding FATCA.
UNDERWRITING
ThinkEquity LLC is the representative for
the several underwriters of this offering, or the representative. We have entered into an underwriting agreement with the underwriters
named below. Subject to the terms and conditions of the underwriting agreement, we have agreed to sell to the underwriters, and
each underwriter has agreed, severally and not jointly, to purchase, at the public offering price less the underwriting discounts
set forth on the cover page of this prospectus, the number of shares of common stock at the initial public offering price, less
the underwriting discounts and commissions, as set forth on the cover page of this prospectus, the number of shares of common stock
listed next to its name in the following table:
Underwriter
Number of
Shares
Number of Shares if
Over-allotment Option
is Fully Exercised
ThinkEquity LLC
Totals:
The underwriters are committed to purchase
all, if any, shares offered by us other than those covered by the over-allotment option described below, if any are purchased.
The obligations of the underwriters may be terminated upon the occurrence of certain events specified in the underwriting agreement.
Furthermore, the underwriting agreement provides that the obligations of the underwriters to pay for and accept delivery of the
shares offered by us in this prospectus are subject to various representations and warranties and other customary conditions specified
in the underwriting agreement, such as receipt by the representative of officers' certificates and legal opinions.
We have agreed to indemnify the underwriters
against specified liabilities, including liabilities under the Securities Act, and to contribute to payments the underwriters may
be required to make in respect thereof.
The underwriters are offering the shares
of common stock subject to prior sale, when, as and if issued to and accepted by them, subject to approval of legal matters by
its counsel and other conditions specified in the underwriting agreement. The underwriters reserve the right to withdraw, cancel
or modify offers to the public and to reject orders in whole or in part.
Over-Allotment Option
We have granted the underwriters an over-allotment
option. This option, which is exercisable for up to 45 days after the date of this prospectus, permits the underwriters to purchase
up to an aggregate of            additional shares of common stock (equal to
15% of the common stock sold in this offering) at the public offering price per share, less underwriting discounts and commissions,
solely to cover over-allotments, if any. To the extent the option is exercised, each underwriter will become obligated, subject
to certain conditions, to purchase about the same percentage of the additional shares of common stock as the number listed next
to the underwriter's name in the preceding table that bears to the total number of shares of common stock listed next to
the names of all underwriters in the preceding table.
.
Discounts, Commissions and Reimbursement
The underwriters have advised us that the underwriters
propose to offer the shares of common stock to the public at the initial public offering price per share set forth on the cover
page of this prospectus. The underwriters may offer shares to securities dealers at that price less a concession of not more than
$          per share of which up to $          per share may be reallowed to other dealers. After the initial offering to the public, the public
offering price and other selling terms may be changed by the underwriters.
71
The following table summarizes the underwriting
discounts and commissions, non-accountable underwriters' expense allowance and proceeds, before expenses, to us assuming
both no exercise and full exercise by the underwriters of their over-allotment option:
Total
Per Share
Offering without
Over-Allotment
Option
Offering with
Over-Allotment
Option
Public offering price
$
$
$
Underwriting discounts and commissions (7.5%)
$
$
$
Non-accountable expense allowance (1%)
$
$
$
Proceeds, before expenses, to us
$
$
$
We have agreed to pay the representative
a non-accountable expense allowance of 1% of the gross proceeds of the offering. We estimate that the total expenses, excluding
underwriting discounts and commissions and the 1% non-accountable expense allowances, will be approximately $           ,
all of which are payable by us. This figure includes expense reimbursements we have agreed to pay the representative for reimbursement
of its actual accountable expenses related to the offering up to a maximum aggregate expense allowance of $154,500, for which we
have paid a $35,000 advance, which will be returned to us to the extent not offset by actual expenses in accordance with FINRA
Rule 5110(f)(2)(C).
Underwriters' Warrants
As additional compensation to the underwriters,
upon consummation of this offering, we will issue to the underwriters or their designees warrants to purchase an aggregate number
of shares of our common stock equal to 5% of the number of shares of common stock issued in this offering, at an exercise price
per share equal to 125% of the initial public offering price (the "Underwriters Warrants"). The Underwriter Warrant
and the underlying shares of common stock shall not be sold during the offering, or sold, transferred, assigned, pledged, or hypothecated,
or be the subject of any hedging, short sale, derivative, put, or call transaction that would result in the effective economic
disposition of the securities by any person for a period of 180 days immediately following the commencement of sales of the public
offering in accordance with FINRA Rule 5110(e). The Underwriters' Warrants will be exercisable, in whole or in part, commencing
180 days from the effective date of the offering and will expire on the fifth anniversary of the effective date of the registration
statement related to the offering in accordance with FINRA Rule 5110(f)(2)(G)(i). In addition, we have granted the underwriters
a one-time demand registration right and unlimited "piggyback" registration rights with respect to the underlying shares.
The demand registration rights will not be greater than 5 years from the effective date of the registration statement related to
the offering in compliance with FINRA Rule 5110(f)(2)(G)(iv). The piggyback registration right will not be greater than 5 years
from the effective date of the registration statement related to the offering in compliance with FINRA Rule 5110(f)(2)(G)(v).
Right of First Refusal
Until twelve (12) months from the closing
of this offering, the representative shall have an irrevocable right of first refusal to act as sole investment banker, sole book-runner
and/or sole placement agent, at the representative's sole discretion, for each and every future public and private equity
and debt offerings (excluding commercial bank debt) for our Company, or any successor to or any subsidiary of our Company that
occurs during such 12 month period, including all equity linked financings, on terms customary to the representative. The representative
shall have the sole right to determine whether or not any other broker-dealer shall have the right to participate in any such offering
and the economic terms of any such participation. The representative will not have more than one opportunity to waive or terminate
the right of first refusal in consideration of any such transaction.
Discretionary Accounts
The underwriters do not intend to confirm
sales of the securities offered hereby to any accounts over which they have discretionary authority.
Lock-Up Agreements
We agreed that for a period of 180 days
after the date of this prospectus we will not, without the prior written consent of the representative and subject to certain exceptions,
directly or indirectly:
72
·
offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of our capital stock or any securities convertible into or exercisable or exchangeable for shares of our capital stock;
·
file or caused to be filed any registration statement with SEC relating to the offering of any shares of our capital or any securities convertible into or exercisable or exchangeable for shares of our capital stock;
·
complete any offering of our debt securities, other than entering into a line of credit with a traditional bank; or
·
enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of our capital stock, whether any such transaction is to be settled by delivery of shares of capital stock or such other securities, in cash or otherwise.
In addition, each of our directors, officers
and stockholders have agreed that for a period of (i) 12 months after the date of this prospectus in the case of our directors
and officers and (ii) 180 days after the date of this prospectus in the case of our stockholders, without the prior written consent
of the representative and subject to certain exceptions, they will not directly or indirectly:
·
offer, pledge, sell, contract to sell, grant, lend, or otherwise transfer or dispose of, directly or indirectly, any of our common stock or any securities convertible into or exercisable or exchangeable for common stock;
·
enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of our common stock or any securities convertible into or exercisable or exchangeable for common stock, whether any such transaction is to be settled by delivery of shares of common stock or such other securities, in cash or otherwise;
·
make any demand for or exercise any right with respect to the registration of any common stock or any securities convertible into or exercisable or exchangeable for common stock; or
·
publicly disclose the intention to make any offer, sale, pledge or disposition, or to enter into any transaction, swap, hedge or other arrangement relating to any common stock or any securities convertible into or exercisable or exchangeable for common stock.
Electronic Offer, Sale and Distribution
of Securities
A prospectus in electronic format may be
made available on the websites maintained by the underwriters or selling group members. The underwriters may agree to allocate
a number of securities to selling group members for sale to its online brokerage account holders. Internet distributions will be
allocated by the underwriters and selling group members that will make internet distributions on the same basis as other allocations.
Other than the prospectus in electronic format, the information on these websites is not part of, nor incorporated by reference
into, this prospectus or the registration statement of which this prospectus forms a part, has not been approved or endorsed by
us, and should not be relied upon by investors.
Stabilization
In connection with this offering, the underwriters
may engage in stabilizing transactions, over-allotment transactions, syndicate-covering transactions, penalty bids and purchases
to cover positions created by short sales.
Stabilizing transactions permit bids to
purchase shares so long as the stabilizing bids do not exceed a specified maximum and are engaged in for the purpose of preventing
or retarding a decline in the market price of the shares while this offering is in progress.
Over-allotment transactions involve sales
by the underwriters of shares in excess of the number of shares the underwriters are obligated to purchase. This creates a syndicate
short position which may be either a covered short position or a naked short position. In a covered short position, the number
of shares over-allotted by the underwriters are not greater than the number of shares that they may purchase in the over-allotment
option. In a naked short position, the number of shares involved is greater than the number of shares in the over-allotment option.
The underwriters may close out any short position by exercising their over-allotment option and/or purchasing shares in the open
market.
Syndicate covering transactions involve
purchases of shares in the open market after the distribution has been completed in order to cover syndicate short positions. In
determining the source of shares to close out the short position, the underwriters will consider, among other things, the price
of shares available for purchase in the open market as compared with the price at which it may purchase shares through exercise
of the over-allotment option. If the underwriters sell more shares than could be covered by exercise of the over-allotment option
and, therefore, have a naked short position, the position can be closed out only by buying shares in the open market. A naked short
position is more likely to be created if the underwriters are concerned that after pricing there could be downward pressure on
the price of the shares in the open market that could adversely affect investors who purchase in this offering.
73
Penalty bids permit an underwriter to reclaim
a selling concession from a syndicate member when the shares originally sold by that syndicate member are purchased in stabilizing
or syndicate covering transactions to cover syndicate short positions.
These stabilizing transactions, syndicate
covering transactions and penalty bids may have the effect of raising or maintaining the market price of our shares of common stock
or preventing or retarding a decline in the market price of our shares of common stock. As a result, the price of our common stock
in the open market may be higher than it would otherwise be in the absence of these transactions. Neither we nor the underwriters
make any representation or prediction as to the effect that the transactions described above may have on the price of our common
stock. These transactions may be effected in the over-the-counter market or otherwise and, if commenced, may be discontinued at
any time.
Passive Market Making
In connection with this offering, underwriters
and selling group members may engage in passive market making transactions in our common stock on the                       in accordance with Rule 103
of Regulation M under the Exchange Act, during a period before the commencement of offers or sales of the securities and extending
through the completion of the distribution. A passive market maker must display its bid at a price not in excess of the highest
independent bid of that security. However, if all independent bids are lowered below the passive market maker's bid, then that
bid must then be lowered when specified purchase limits are exceeded
Other Relationships
The underwriters and their affiliates may
in the future provide various investment banking, commercial banking and other financial services for us and our affiliates for
which they may in the future receive customary fees.
Offer Restrictions Outside the United
States
Other than in the United States, no action
has been taken by us or the underwriters that would permit a public offering of the securities offered by this prospectus in any
jurisdiction where action for that purpose is required. The securities offered by this prospectus may not be offered or sold, directly
or indirectly, nor may this prospectus or any other offering material or advertisements in connection with the offer and sale of
any such securities be distributed or published in any jurisdiction, except under circumstances that will result in compliance
with the applicable rules and regulations of that jurisdiction. Persons into whose possession this prospectus comes are advised
to inform themselves about and to observe any restrictions relating to this offering and the distribution of this prospectus. This
prospectus does not constitute an offer to sell or a solicitation of an offer to buy any securities offered by this prospectus
in any jurisdiction in which such an offer or a solicitation is unlawful.
Australia
This prospectus is not a disclosure document
under Chapter 6D of the Australian Corporations Act, has not been lodged with the Australian Securities and Investments Commission
and does not purport to include the information required of a disclosure document under Chapter 6D of the Australian Corporations
Act. Accordingly, (i) the offer of the securities under this prospectus is only made to persons to whom it is lawful to offer the
securities without disclosure under Chapter 6D of the Australian Corporations Act under one or more exemptions set out in section
708 of the Australian Corporations Act, (ii) this prospectus is made available in Australia only to those persons as set forth
in clause (i) above, and (iii) the offeree must be sent a notice stating in substance that by accepting this offer, the offeree
represents that the offeree is such a person as set forth in clause (i) above, and, unless permitted under the Australian Corporations
Act, agrees not to sell or offer for sale within Australia any of the securities sold to the offeree within 12 months after its
transfer to the offeree under this prospectus.
74
China
The information in this document does not constitute
a public offer of the securities, whether by way of sale or subscription, in the People's Republic of China (excluding, for
purposes of this paragraph, Hong Kong Special Administrative Region, Macau Special Administrative Region and Taiwan). The securities
may not be offered or sold directly or indirectly in the PRC to legal or natural persons other than directly to "qualified
domestic institutional investors."
European Economic Area—Belgium, Germany,
Luxembourg and Netherlands
The information in this document has been prepared
on the basis that all offers of securities will be made pursuant to an exemption under the Directive 2003/71/EC ("Prospectus
Directive"), as implemented in Member States of the European Economic Area (each, a "Relevant Member State"),
from the requirement to produce a prospectus for offers of securities.
An offer to the public of securities has not
been made, and may not be made, in a Relevant Member State except pursuant to one of the following exemptions under the Prospectus
Directive as implemented in that Relevant Member State:
·
to legal entities that are authorized or regulated to operate in
the financial markets or, if not so authorized or regulated, whose corporate purpose is solely to invest in securities;
·
to any legal entity that has two or more of (i) an average of at
least 250 employees during its last fiscal year; (ii) a total balance sheet of more than €43,000,000 (as shown on its last
annual unconsolidated or consolidated financial statements) and (iii) an annual net turnover of more than €50,000,000 (as
shown on its last annual unconsolidated or consolidated financial statements);
·
to fewer than 100 natural or legal persons (other than qualified
investors within the meaning of Article 2(1)(e) of the Prospectus Directive) subject to obtaining the prior consent of the Company
or any underwriter for any such offer; or
·
in any other circumstances falling within Article 3(2) of the Prospectus
Directive, provided that no such offer of securities shall result in a requirement for the publication by the Company of a prospectus
pursuant to Article 3 of the Prospectus Directive.
France
This document is not being distributed in the
context of a public offering of financial securities (offre au public de titres financiers) in France within the meaning of Article
L.411-1 of the French Monetary and Financial Code (Code Monétaire et Financier) and Articles 211-1 et seq. of the General
Regulation of the French Autorité des marchés financiers ("AMF"). The securities have not been offered
or sold and will not be offered or sold, directly or indirectly, to the public in France.
This document and any other offering material
relating to the securities have not been, and will not be, submitted to the AMF for approval in France and, accordingly, may not
be distributed or caused to distributed, directly or indirectly, to the public in France.
Such offers, sales and distributions have been
and shall only be made in France to (i) qualified investors (investisseurs qualifiés) acting for their own account, as defined
in and in accordance with Articles L.411-2-II-2° and D.411-1 to D.411-3, D.744-1, D.754-1 ;and D.764-1 of the French Monetary
and Financial Code and any implementing regulation and/or (ii) a restricted number of non-qualified investors (cercle restreint
d'investisseurs) acting for their own account, as defined in and in accordance with Articles L.411-2-II-2° and D.411-4,
D.744-1, D.754-1; and D.764-1 of the French Monetary and Financial Code and any implementing regulation.
Pursuant to Article 211-3 of the General Regulation
of the AMF, investors in France are informed that the securities cannot be distributed (directly or indirectly) to the public by
the investors otherwise than in accordance with Articles L.411-1, L.411-2, L.412-1 and L.621-8 to L.621-8-3 of the French Monetary
and Financial Code.
75
Ireland
The information in this document does not constitute
a prospectus under any Irish laws or regulations and this document has not been filed with or approved by any Irish regulatory
authority as the information has not been prepared in the context of a public offering of securities in Ireland within the meaning
of the Irish Prospectus (Directive 2003/71/EC) Regulations 2005 (the "Prospectus Regulations"). The securities have
not been offered or sold, and will not be offered, sold or delivered directly or indirectly in Ireland by way of a public offering,
except to (i) qualified investors as defined in Regulation 2(l) of the Prospectus Regulations and (ii) fewer than 100 natural or
legal persons who are not qualified investors.
Israel
The securities offered by this prospectus have
not been approved or disapproved by the Israeli Securities Authority (the ISA), or ISA, nor have such securities been registered
for sale in Israel. The shares may not be offered or sold, directly or indirectly, to the public in Israel, absent the publication
of a prospectus. The ISA has not issued permits, approvals or licenses in connection with the offering or publishing the prospectus;
nor has it authenticated the details included herein, confirmed their reliability or completeness, or rendered an opinion as to
the quality of the securities being offered. Any resale in Israel, directly or indirectly, to the public of the securities offered
by this prospectus is subject to restrictions on transferability and must be effected only in compliance with the Israeli securities
laws and regulations.
Italy
The offering of the securities in the Republic
of Italy has not been authorized by the Italian Securities and Exchange Commission (Commissione Nazionale per le Societ—$$—Aga
e la Borsa, "CONSOB" pursuant to the Italian securities legislation and, accordingly, no offering material relating
to the securities may be distributed in Italy and such securities may not be offered or sold in Italy in a public offer within
the meaning of Article 1.1(t) of Legislative Decree No. 58 of 24 February 1998 ("Decree No. 58"), other than:
·
to Italian qualified investors, as defined in Article 100 of Decree
no.58 by reference to Article 34-ter of CONSOB Regulation no. 11971 of 14 May 1999 ("Regulation no. 1197l") as amended
("Qualified Investors"); and
·
in other circumstances that are exempt from the rules on public offer
pursuant to Article 100 of Decree No. 58 and Article 34-ter of Regulation No. 11971 as amended.
Any offer, sale or delivery of the securities
or distribution of any offer document relating to the securities in Italy (excluding placements where a Qualified Investor solicits
an offer from the issuer) under the paragraphs above must be:
·
made by investment firms, banks or financial intermediaries permitted to conduct such activities
in Italy in accordance with Legislative Decree No. 385 of 1 September 1993 (as amended), Decree No. 58, CONSOB Regulation No. 16190
of 29 October 2007 and any other applicable laws; and
·
in compliance with all relevant Italian securities, tax and exchange controls and any other applicable
laws.
Any subsequent distribution of the securities
in Italy must be made in compliance with the public offer and prospectus requirement rules provided under Decree No. 58 and the
Regulation No. 11971 as amended unless an exception from those rules applies. Failure to comply with such rules may result in the
sale of such securities being declared null and void and in the liability of the entity transferring the securities for any damages
suffered by the investors.
Japan
The securities have not been and will not be
registered under Article 4, paragraph 1 of the Financial Instruments and Exchange Law of Japan (Law No. 25 of 1948), as amended
(the "FIEL") pursuant to an exemption from the registration requirements applicable to a private placement of securities
to Qualified Institutional Investors (as defined in and in accordance with Article 2, paragraph 3 of the FIEL and the regulations
promulgated thereunder). Accordingly, the securities may not be offered or sold, directly or indirectly, in Japan or to, or for
the benefit of, any resident of Japan other than Qualified Institutional Investors. Any Qualified Institutional Investor who acquires
securities may not resell them to any person in Japan that is not a Qualified Institutional Investor, and acquisition by any such
person of securities is conditional upon the execution of an agreement to that effect.
76
Portugal
This document is not being distributed in the
context of a public offer of financial securities (oferta pública de valores mobiliários) in Portugal, within the
meaning of Article 109 of the Portuguese Securities Code (Código dos Valores Mobiliários). The securities have not
been offered or sold and will not be offered or sold, directly or indirectly, to the public in Portugal. This document and any
other offering material relating to the securities have not been, and will not be, submitted to the Portuguese Securities Market
Commission (Comissăo do Mercado de Valores Mobiliários) for approval in Portugal and, accordingly, may not be distributed
or caused to distributed, directly or indirectly, to the public in Portugal, other than under circumstances that are deemed not
to qualify as a public offer under the Portuguese Securities Code. Such offers, sales, and distributions of securities in Portugal
are limited to persons who are "qualified investors" (as defined in the Portuguese Securities Code). Only such investors
may receive this document and they may not distribute it, or the information contained in it to any other person.
Sweden
This document has not been, and will not be,
registered with or approved by Finansinspektionen (the Swedish Financial Supervisory Authority). Accordingly, this document may
not be made available, nor may the securities be offered for sale in Sweden, other than under circumstances that are deemed not
to require a prospectus under the Swedish Financial Instruments Trading Act (1991:980) (Sw. lag (1991:980) om handel med finansiella
instrument). Any offering of securities in Sweden is limited to persons who are "qualified investors" (as defined in
the Financial Instruments Trading Act). Only such investors may receive this document and they may not distribute it or the information
contained in it to any other person.
Switzerland
The securities may not be publicly offered
in Switzerland and will not be listed on the SIX Swiss Exchange ("SIX") or on any other stock exchange or regulated
trading facility in Switzerland. This document has been prepared without regard to the disclosure standards for issuance prospectuses
under art. 652a or art. 1156 of the Swiss Code of Obligations or the disclosure standards for listing prospectuses under art. 27
ff. of the SIX Listing Rules or the listing rules of any other stock exchange or regulated trading facility in Switzerland. Neither
this document nor any other offering material relating to the securities may be publicly distributed or otherwise made publicly
available in Switzerland.
Neither this document nor any other offering
material relating to the securities have been or will be filed with or approved by any Swiss regulatory authority. In particular,
this document will not be filed with, and the offer of securities will not be supervised by, the Swiss Financial Market Supervisory
Authority (FINMA).
This document is personal to the recipient
only and not for general circulation in Switzerland.
United Arab Emirates
Neither this document nor the securities have
been approved, disapproved, or passed on in any way by the Central Bank of the United Arab Emirates or any other governmental authority
in the United Arab Emirates, nor has the Company received authorization or licensing from the Central Bank of the United Arab Emirates
or any other governmental authority in the United Arab Emirates to market or sell the securities within the United Arab Emirates.
This document does not constitute and may not be used for the purpose of an offer or invitation. No services relating to the securities,
including the receipt of applications and/or the allotment or redemption of such shares, may be rendered within the United Arab
Emirates by the Company.
No offer or invitation to subscribe for securities
is valid or permitted in the Dubai International Financial Centre.
United Kingdom
Neither the information in this document nor
any other document relating to the offer has been delivered for approval to the Financial Services Authority in the United Kingdom
and no prospectus (within the meaning of section 85 of the Financial Services and Markets Act 2000, as amended ("FSMA")
has been published or is intended to be published in respect of the securities. This document is issued on a confidential basis
to "qualified investors" (within the meaning of section 86(7) of FSMA) in the United Kingdom, and the securities may
not be offered or sold in the United Kingdom by means of this document, any accompanying letter or any other document, except in
circumstances which do not require the publication of a prospectus pursuant to section 86(1) FSMA. This document should not be
distributed, published or reproduced, in whole or in part, nor may its contents be disclosed by recipients to any other person
in the United Kingdom.
77
Any invitation or inducement to engage in investment
activity (within the meaning of section 21 of FSMA) received in connection with the issue or sale of the securities has only been
communicated or caused to be communicated and will only be communicated or caused to be communicated in the United Kingdom in circumstances
in which section 21(1) of FSMA does not apply to the Company.
In the United Kingdom, this document is being
distributed only to, and is directed at, persons (i) who have professional experience in matters relating to investments falling
within Article 19(5) (investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005
("FPO"), (ii) who fall within the categories of persons referred to in Article 49(2)(a) to (d) (high net worth companies,
unincorporated associations, etc.) of the FPO or (iii) to whom it may otherwise be lawfully communicated (together "relevant
persons"). The investments to which this document relates are available only to, and any invitation, offer or agreement to
purchase will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this
document or any of its contents.
Canada
The securities may be sold in Canada only to
purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument
45-106 Prospectus Exemptions or subsection 73.3(1) of the Securities Act (Ontario), and are permitted clients, as defined in National
Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. Any resale of the securities must be
made in accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities
laws. Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission
or damages if this prospectus (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission
or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's
province or territory. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's
province or territory for particulars of these rights or consult with a legal advisor. Pursuant to section 3A.3 of National Instrument
33-105 Underwriting Conflicts (NI 33-105), the underwriters are not required to comply with the disclosure requirements of NI33-105
regarding underwriter conflicts of interest in connection with this offering.
LEGAL
MATTERS
Certain legal matters with respect to the
validity of the securities being offered by this prospectus will be passed upon by Carmel, Milazzo & Feil LLP, New York, New
York. Bevilacqua PLLC, Washington, D.C., is acting as counsel for the representative of the underwriters with respect to the offering.
EXPERTS
Fruci and Associates II, PLLC, an independent
certified public accounting firm, audited our financial statements for the years ended December 31, 2021 and 2020. We have included
our financial statements in this prospectus and elsewhere in the registration statement in reliance on the reports of Fruci and
Associates II, PLLC, given on their authority as experts in accounting and auditing.
WHERE
YOU CAN FIND MORE INFORMATION
We have filed
with the SEC a registration statement on Form S-1 under the Securities Act with respect to the shares of our common stock offered
by this prospectus. This prospectus, which constitutes a part of the registration statement, does not contain all of the information
set forth in the registration statement, some of which is contained in exhibits to the registration statement as permitted by the
rules and regulations of the SEC. For further information with respect to us and our common stock, we refer you to the registration
statement, including the exhibits filed as a part of the registration statement. Statements contained in this prospectus concerning
the contents of any contract or any other document is not necessarily complete. If a contract or document has been filed as an
exhibit to the registration statement, please see the copy of the contract or document that has been filed. Each statement in this
prospectus relating to a contract or document filed as an exhibit is qualified in all respects by the filed exhibit. You may obtain
copies of this information by mail from the Public Reference Section of the SEC, 100 F Street, N.E., Room 1580, Washington, D.C.
20549, at prescribed rates. You may obtain information on the operation of the public reference rooms by calling the SEC at 1-800-SEC-0330.
The SEC also maintains an Internet website that contains reports, proxy statements and other information about issuers, like us,
that file electronically with the SEC. The address of that website is
www.sec.gov
.
78
Upon the effectiveness
of the registration statement, we will be subject to the information and reporting requirements of the Exchange Act and, in accordance
with this law, will be required to file periodic reports, proxy statements and other information with the SEC. These periodic reports,
proxy statements and other information are available for inspection and copying at the SEC's public reference facilities
and the website of the SEC referred to above. We also maintain a website at
www.leewayservices.com
. You may access these materials free of
charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC. Information contained
on our website is not a part of this prospectus and the inclusion of our website address in this prospectus is an inactive textual
reference only.
79
FINANCIAL STATEMENTS
Unaudited Consolidated Financial Statements
F-2
Consolidated Balance Sheets – March 31, 2022 and December 31, 2021
F-3
Consolidated Statements of Operations – For the Three Months Ended March 31, 2022 and 2021
F-4
Consolidated Statements of Shareholders' Deficit – For the Three Months Ended March 31, 2022 and 2021
F-5
Consolidated Statements of Cash Flows – For the Three Months Ended March 31, 2022 and 2021
F-6
Notes to the Consolidated Financial Statements
F-7
Audited Combined Financial Statements
F-15
Report of Independent Registered Public Accounting Firm
F-16
Combined Balance Sheets – December 31, 2021 and 2020
F-17
Com
bined
Statements of Operations – For the Years Ended December 31, 2021 and 2020
F-18
Com
bined
Statements of Shareholders' Deficit – For the Years Ended December 31, 2021 and 2020
F-19
Combined Statements of Cash Flows – For the Years Ended December 31, 2021 and 2020
F-20
Notes to the Com
bined
Financial Statements
F-21
F-
1
LeeWay Services, Inc.
Consolidated Financial Statements (Unaudited)
At March 31, 2022 and 2021
and for the Three Months Then Ended
F-
2
LEEWAY SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
March 31, 2022
(Unaudited)
December 31,
2021
ASSETS
Current Assets
Cash and cash equivalents
$
326,322
$
337,938
Accounts receivable, transportation, net
6,350,600
4,848,326
Accounts receivable, financing, net
1,905,209
1,750,136
Deposits and prepaid expenses
74,108
59,838
Total Current Assets
8,656,239
6,996,238
Property and Equipment, net
516,454
527,401
Operating lease right-of-use asset
14,207
24,110
Deferred income tax asset
57,674
57,674
Total Assets
$
9,244,574
$
7,605,423
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable
4,347,332
3,601,419
Accrued liabilities
473,776
315,901
Short-term debt
685,000
685,000
Operating lease liability – current portion
15,629
26,261
Notes payable - related party
1,775,476
1,723,555
Total Current Liabilities
7,297,213
6,352,136
Long-term Liabilities
Subordinated debt
1,516,895
1,723,206
Total Liabilities
8,814,108
8,075,342
Stockholders' Equity
Preferred stock – $0.001 par value; 20,000,000 shares authorized; 2,000
    shares issued and outstanding
2
2
Common stock – $0.001 par value; 180,000,000 shares authorized; 30,000,000 and 30,000,000
    shares issued and outstanding, respectively
30,000
30,000
Additional paid-in capital
-
-
Accumulated deficit
400,464
(499,921
)
Total Stockholders' Equity (Deficit)
430,466
(469,919
)
Total Liabilities and Stockholders' Equity
$
9,244,574
$
7,605,423
The accompanying notes are an integral part
of these consolidated financial statements
F-
3
LEEWAY SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
For the Three Months
Ended March 31,
2022
2021
Revenues
Transportation income
$
12,082,377
$
4,451,434
Financing service income
151,347
137,647
Total revenue
12,233,724
4,589,081
Cost of goods sold
Transportation costs
9,633,516
3,901,746
Financing costs
71,961
29,655
Total cost of goods sold
9,705,477
3,931,401
Gross profit
2,528,247
657,680
Operating Costs and Expenses
Payroll and consultants
1,251,623
408,187
Sales and marketing
85,996
63,943
General and administrative
254,576
123,337
Depreciation
35,667
8,664
Total Operating Costs and Expenses
1,627,862
604,131
Income from Operations
900,385
53,549
Other Income and Expenses
Interest expense
-
(6,475
)
Net Other Income (Expense)
-
(6,475
)
Income before income tax
900,385
47,074
Income tax expense
-
-
Net income
$
900,385
$
47,074
Basic and diluted earnings per share
$
0.03
$
0.00
Basic and Diluted Weighted Average Common Shares Outstanding
30,000,000
30,000,000
The accompanying notes are an integral part
of these consolidated financial statements
F-
4
LEEWAY SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS'
EQUITY (DEFICIT)
For the Three Months Ended March 31,
2022 and 2021
(UNAUDITED)
Preferred Stock
Common Stock
Additional
Paid-in
Accumulated
Total
Stockholders'
Shares
Amount
Shares
Amount
Capital
Deficit
Equity
Balance – December 31, 2021
2,000
$
2
30,000,000
$
30,000
$
-
$
(499,921
)
$
(469,919
)
Net income – three months ended March 31, 2022
-
-
-
-
900,385
900,385
Balance – March 31, 2022
2,000
$
2
30,000,000
$
30,000
$
-
$
400,464
$
430,466
Preferred Stock
Common Stock
Additional
Paid-in
Accumulated
Total
Stockholders'
Shares
Amount
Shares
Amount
Capital
Deficit
Equity
Balance – December 31,
2020
2,000
$
2
30,000,000
$
30,000
$
-
$
(1,457,341
)
$
(1,427,339
)
Net income – three months ended March 31, 2021
-
-
-
-
47,074
47,074
Balance – March 31, 2021
2,000
$
2
30,000,000
$
30,000
$
-
$
(1,410,267
)
$
(1,380,265
)
The accompanying notes are an integral part
of these consolidated financial statements
F-
5
LEEWAY SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH
FLOWS
(UNAUDITED)
For the Three Months
Ended March 31,
2022
2021
Cash Flows from Operating Activities:
Net income
$
900,385
$
47,074
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation
35,667
8,664
Deferred tax asset
-
(11,491
)
Changes in operating assets and liabilities:
Accounts receivable
(1,657,347
)
(406,599
)
Prepaid expenses and other assets
(14,270
)
(3,575
)
Operating lease – Right-of-use asset
9,903
9,903
Accounts payable
745,913
172,260
Accrued liabilities
157,875
30,998
Lease liabilities
(10,632
)
(10,632
)
Net Cash Provided by (Used in) Operating Activities
167,494
(163,398
)
Cash Flows from Investing Activities:
Investment
    in property and equipment
(24,720
)
(10,301
)
Net Cash Provided by (Used in) Investing Activities
(24,720
)
(10,301
)
Cash Flows from Financing
Activities:
Proceeds from borrowings under note payable
51,921
795,996
Payment on subordinated debt
(206,311
)
(674,859
)
Net Cash Provided by (Used in) Financing Activities
(154,390
)
121,137
Net Change in Cash and Cash Equivalents
(11,616
)
(52,562
)
Cash and Cash Equivalents at Beginning of Period
337,938
293,078
Cash and Cash Equivalents at End of Period
$
326,322
$
240,516
Supplemental Cash Flow Information:
Cash paid for income taxes
$
-
$
-
Cash paid for interest
$
-
$
-
The accompanying notes are an integral part
of these consolidated financial statements
F-
6
LEEWAY SERVICES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
MARCH 31, 2022
(UNAUDITED)
NOTE 1
–
SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES
Consolidated Interim Financial Statements
–
The accompanying unaudited consolidated financial statements include the accounts of LeeWay Services, Inc. (the
"Company"). These financial statements are and, therefore, do not include all disclosures normally required by accounting
principles generally accepted in the United States of America. Therefore, these statements should be read in conjunction with the
most recent annual consolidated financial statements of LeeWay Services, Inc. for the year ended December 31, 2021 included in
the Company's Form S-1 filed with the Securities and Exchange Commission on June 13, 2022. In particular, the Company's
significant accounting principles were presented as Note 1 to the Consolidated Financial Statements in that report. In the
opinion of management, all adjustments necessary for a fair presentation have been included in the accompanying consolidated financial
statements and consist of only normal recurring adjustments. The results of operations presented in the accompanying consolidated
financial statements are not necessarily indicative of the results that may be expected for the full year ending December 31, 2022.
Nature of Operations
–
LeeWay Services, Inc. (the Company) was incorporated under the laws of the State of Nevada on October 12, 2021. The Company was
organized to engage in any lawful activity for which corporations may be organized under Nevada statute.
LeeWay Services, Inc. has two wholly owned
subsidiaries: LeeWay Transportation, Inc., a corporation incorporated under the laws of the State of Nevada on July 1, 2015, as
LeeWay Global Logistics, Inc. and LeeWay Capital, Inc., a corporation incorporated under the laws of the State of Utah on September
25, 2014, as Bridge Capital Lenders, Inc.
The principal business of LeeWay Transportation,
Inc. is to provide technology-based third-party logistics (3PL) and comprehensive management solutions for shippers, brokers and
carriers in the transportation industry. LeeWay Transportation, Inc. has two wholly owned subsidiaries: LeeWay Global Logistics
LLC, a limited liability company organized under the laws of the State of Nevada on September 6, 2007, and LeeWay Freight Lines,
a corporation incorporated under the laws of the State of California on September 19, 1957, as Evans Talk Line, Inc.
The principal business of LeeWay Capital,
Inc. is to provide financial services for a broad range of clients. LeeWay Capital has two wholly owned subsidiaries: eCommerce
Financing, a limited liability company organized under the laws of the State of Utah on June 13, 2018, and eCommerce Funding, a
limited liability company organized under the laws of the State of Utah on November 2, 2018.
The COVID-19 Pandemic ("the Pandemic")
has had a dramatic effect on our business as well as the business of our customers. The wide-ranging effects on the world-wide
business market has led to a general reluctance for businesses to move forward with entering into major commitments until their
future markets have been clarified. Because of this, we have experienced a significant slowdown in the size and number of contracts
received and, while we cannot predict when the influence of the Pandemic will end, we expect that contracts for services and financing
will return to their former levels and increase following a return to normal business operations.
F-
7
Use of Estimates –
The
preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities at the date of the combined financial statements and
the reported amounts of revenue and expenses during the reporting periods.  Actual results could differ from those estimates.
Cash and Cash Equivalents –
Cash and cash equivalents are considered to be cash, as are highly liquid securities with original maturities of three
months or less. While the total cash on hand at March 31, 2022, of $326,322 exceeds the FDIC insurance limit of $250,000, the total
cash balance is comprised of accounts at several banks. The total cash in all accounts at any one financial institution at March
31, 2022, does not exceed the $250,000 FDIC insurance limit and are therefore not at risk.
Fair Value Measurements
-
The
fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability
in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial
liabilities are marked to offer prices. The fair value should be calculated based on assumptions that market participants would
use in pricing the asset or liability, not on assumptions specific to the entity. In addition, the fair value of liabilities should
include consideration of non-performance risk, including the party's own credit risk.
Fair value measurements do not include
transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine
fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair
value measurement. The fair value hierarchy is defined into the following three categories:
Level 1: Quoted market prices
in active markets for identical assets or liabilities.
Level 2: Observable inputs other
than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume
or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or
can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities.
Level 3: Unobservable inputs
to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.
To the extent that valuation is based on
models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment.
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases,
for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is disclosed and is determined
based on the lowest level input that is significant to the fair value measurement.
The carrying value of the Company's
cash, accounts payable, short-term borrowings (including convertible notes payable), and other current assets and liabilities approximate
fair value because of their short-term maturity.
Accounts Receivable –
Accounts
receivables are presented net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for
estimated losses. The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when
there is doubt as to the collectability of individual balances. In evaluating the collectability of individual receivable balances,
the Company considers a number of factors, including the age of the balance, a customer's historical payment history, its
current creditworthiness and current economic trends. Accounts are written off only after exhaustive efforts at collection. At
March 31, 2022 and December 31, 2021, the Company had transportation accounts receivable, net of the allowance, of $6,350,600 and
$4,848,326, respectively, and financing accounts receivable, net of the allowance, of $1,905,209 and $1,750,136, respectively.
At March 31, 2022 and December 31, 2021, the allowance for doubtful accounts was $460,079 and $379,693, respectively.
Accounts Receivable – Transportation:
Invoice terms for our freight brokerage business are generally net 30. However, to capture the business of our largest account,
we were required to extend terms of net 60, as that is the term they currently received. Our accounts are monitored and, 7-10 days
before the due date, the client is contacted to insure they have all documents required in order for them to make payment. Any
missing documents are immediately provided to ensure that payment will be made timely.
F-
8
Accounts Receivable – Financing:
Amounts due under the Company's agreements with customers are stated at their outstanding balance, which balance includes
the fee charged for the term of the agreement. The Company holds and services these agreements until the balance has been paid.
Funds are provided our clients over a short term, ranging from three months to nine months. Based on the calculation for eligibility,
it is expected that each of the agreements will be fully paid within the term established. Our ecommerce financing services are
provided for a flat fee for the original term of the loan. The fee is amortized ratably over the term of the agreement. Payments
on the balance are processed concurrent with each payment the client receives from the sales platform they are using, such as Amazon
or Walmart. The client, as part of the agreement, authorizes us to draw payments from their account by ACH, which provides an efficient
and effective method. The payments collected are established as a percent of the funds received by the client, which percentage
rate is determined at the origination of the agreement. In cases where the client's sales are increasing the balance will
generally be fully retired prior to the original maturity date. In instances where sales decline, as we saw many do during the
early stages of the COVID pandemic, an unpaid balance remained at the maturity date of the agreement. The agreement allows an additional
fee to be charged on the account each month in which the balance remains unpaid. Should a client close the bank account to which
we have been permissioned to draw collections, they are asked to provide authority on their new account. Should a client refuse
to provide such access, a notice of default is sent and if no resolution is made during the cure period established, collection
efforts are initiated on the account. Such collection efforts include notifying the sales platform (Amazon or Walmart) that our
client is in default and requesting that the remaining amount due under the agreement be remitted to us from the reserves being
held. Where reserves are insufficient to pay the balance due the account is referred to an attorney to begin collection efforts.
CONCENTRATION AND CREDIT RISK: The Company
has a few major customers who represent a significant portion of revenue and accounts receivable. During the three months ended
March 31, 2022, two customers represented 85% of sales. Revenue related to these two customers is set forth in the table below.
Also, three customers represented 44% of accounts receivable. The Company has strong ongoing relationships with each of these customers
and does not believe this concentration poses a significant risk.
Customer
Sales
Percent of Sales
Customer 1
$
8,978,543
74.31
Customer 2
$
1,294,893
10.72
Property and Equipment –
Property and equipment are stated at cost.  Additions and major improvements are capitalized while maintenance and repairs
are charged to operations.  Upon trade-in, sale or retirement of property and equipment, the related cost and accumulated
depreciation are removed from the accounts and any gain or loss is recognized. Depreciation is computed using the straight-line
method and is recognized over the estimated useful lives of the property and equipment, which range from three to ten years.
Valuation of Long-lived Assets
– The carrying values of the Company's long-lived assets are reviewed for impairment annually and whenever events or
changes in circumstances indicate that they may not be recoverable. When projections indicate that the carrying value of the long-lived
asset is not recoverable, the carrying value is reduced by the estimated excess of the carrying value over the projected discounted
cash flows. Under similar analysis no impairment charge was taken during the three-month period ended March 31, 2022 and during
the year ended December 31, 2021. Impairment tests will be conducted on an annual basis and, should they indicate a carrying value
in excess of fair value, additional impairment charges may be required.
F-
9
Lease Obligations
–
The Company, in accordance with ASC 842, accounts for leases as right-of-use ("ROU")
assets and lease liabilities on the balance sheet. We estimate our incremental borrowing rate, which is defined as the interest
rate we would pay to borrow on a collateralized basis, considering such factors as length of lease term and the risks of the economic
environment in which the leased asset operates. The lease term used to calculate ROU assets and lease liabilities only includes
renewal and termination options that are deemed reasonably certain to be exercised.
Revenue Recognition –
The
Company has adopted and accounts for revenue under the guidance provided by ASC 606,
Revenue from Contracts with
Customers,
and all related amendments ("new revenue standard"). We have applied the new revenue standard to all contracts from
the date of initial application.
LeeWay Transportation, Inc. recognizes
revenue at the time the signed delivery receipt is received, as they are obligated to provide no additional services subsequent
to the delivery and the collectability of the fee for service is reasonably assured.
LeeWay Capital, Inc. recognizes revenue
ratably over the term of the agreement. Revenue on each agreement is the total due under the agreement less the funded amount.
In those instances where the clients' obligations are not fully paid at the termination date of the agreement, additional
fees charged are calculated on the unpaid balance and recorded monthly. The accounts are charges rates of interest ranging from
30% to 50% per annum, depending on the creditworthiness of the client and the term of the agreement.
The table below allocates revenue recorded
for the three-month periods ended March 31, 2022 and 2021:
March 31, 2022
March 31, 2021
Transportation
Financing
Transportation
Financing
Fees
Fees
Total
Fees
Fees
Total
Domestic
$
12,082,377
$
151,347
$
12,233,724
$
4,451,434
$
137,647
$
4,589,081
International
-
-
-
-
-
-
$
12,082,377
$
151,347
$
12,233,724
$
4,451,434
$
137,647
$
4,589,081
Basic and Diluted Loss Per Share
–
The computation of basic profit and loss per share of common stock is based on the weighted average number of shares
outstanding during the period. Diluted EPS is computed by dividing net earnings by the weighted-average number of common shares
and dilutive common stock equivalents during the period. Common stock equivalents are not used in calculating dilutive EPS when
their inclusion would be anti-dilutive. At March 31, 2022 and 2021, the Company had no common stock equivalents.
Concentrations and Credit Risk -
The Company has a few major customers who represent a significant portion of revenue, accounts receivable and notes receivable.
During the six-month period ended June 30, 2021, two customers represented 65% of sales and one customer represented 83% of accounts
receivable. The Company has a strong ongoing relationship with these customers with scheduled delivery extending through the year
and does not believe this concentration poses a significant risk, as their products are based entirely on the Company's technologies.
Income Taxes -
The Company
accounts for income taxes in accordance with Statement of Financial Accounting Standards Board Accounting Codification (ASC) 740:
Income Taxes. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the differences
are expected to reverse. Deferred tax assets will be reflected on the balance sheet when it is determined that it is more likely
than not that the asset will be realized
Recent Accounting Pronouncements
– In December 2019, the Financial Standards Accounting Board ("FASB") issued ASU 2019-12, "Income Taxes
Topic 740-Simplifying the Accounting for Income Taxes" which intended to simplify various aspects related to accounting for
income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing
guidance to improve consistent application of Topic 740. The effective date will be the first quarter of fiscal year 2021 and early
adoption is permitted. The Company adopted ASU 2019-12 effective January 1, 2021. The adoption of this standard had no impact on
our combined financial statements or disclosures.
F-
10
In June 2018, the FASB issued ASU No. 2018-07,
"Compensation — Stock Compensation (Topic 718)," ("ASU 2018-07"). ASU 2018-07 is intended to reduce
cost and complexity of financial reporting for non-employee share-based payments. Currently, the accounting requirements for non-employee
and employee share-based payments are significantly different. ASU 2018-07 expands the scope of Topic 718, which currently only
includes share-based payments to employees, to include share-based payments to non-employees for goods or services. Consequently,
the accounting for share-based payments to non-employees and employees will be substantially aligned. This ASU supersedes Subtopic
505-50, "Equity — Equity-Based Payments to Nonemployees". The amendments to ASU 2018 - 07 are effective for fiscal
years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption
is permitted, but no earlier than a company's adoption date of ASU No. 2014-09, (Topic 606), "Revenue from Contracts
with Customers". The Company adopted ASU 2018-07 effective January 1, 2020. The adoption of this standard had no impact on
our combined financial statements or disclosures.
In June 2016, the FASB issued ASU 2016-13,
"Financial Instruments – Credit Losses"
. The ASU sets forth a "current expected credit loss"
("CECL") model which requires the Company to measure all expected credit losses for financial instruments held at the
reporting date on historical experience, current conditions, and reasonable and supportable forecasts. This replaces the existing
incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies
to some off-balance sheet credit exposures. This ASU was effective for fiscal years beginning after December 15, 2019, including
interim periods within those fiscal years, with early adoption permitted. In November 2019, the FASB issued ASU 2019-10 which deferred
the effective date to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The
Company is currently evaluating the impact this guidance will have on its combined financial statements.
The Company has reviewed all other recently
issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its consolidated results of operation,
financial position and cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant
effect on its current or future earnings or operations.
NOTE 2 – LEASES
We have an operating lease for our office.
We used the lease termination date of July 31, 2022 for our calculation.
The following was included in our combined
balance sheet as of March 31, 2022 and December 31, 2021:
Lease
March 31,
2022
December 31,
2021
Assets
ROU – operating lease asset
$
14,207
$
24,110
Liabilities
Operating lease liabilities – current portion
$
15,269
$
26,261
We recognize lease expense on a straight-line
basis over the term of the lease.
F-
11
For the three months
ended March 31,
For the three months
ended March 31,
Lease Cost
2022
2021
Rent expense
$
14,074
$
10,384
Our building lease does not specify an
implicit rate of interest. Therefore, we estimate our incremental borrowing rate, which is defined as the interest rate we would
pay to borrow on a collateralized basis, considering such factors as length of lease term and the risks of the economic environment
in which the leased asset operates. As of March 31, 2022, the following disclosures for remaining lease term and incremental borrowing
rates were applicable:
Supplemental Disclosures
Weighted average remaining lease term
0.33 years
Weighted average discount rate
5.00%
NOTE 3 – CAPITAL STOCK
Preferred Stock – There are 20,000,000
shares of preferred stock with a par value of $0.001 per share authorized. At March 31, 2022 and December 31, 2021, there were
no shares of preferred stock issued or outstanding.
Common Stock – There are 180,000,000
shares of common stock with a par value of $0.001 per share authorized. At March 31, 2022 and December 31, 2021, there were 30,000,000
and 30,000,000 shares of common stock issued and outstanding, respectively. The Company issued no shares of restricted common stock
during the three months ended March 31, 2022
NOTE 4 – PROPERTY AND EQUIPMENT
Property and equipment and related accumulated
depreciation consisted of the following at March 31, 2022, and December 31, 2021:
March 31, 2022
December 31, 2021
Computer and office equipment
$                    9,114
$
9,114
Software
167,156
138,957
Refrigerated trailers
466,635
466,635
Accumulated depreciation
(126,452
)
(83,536
)
Total Property and Equipment
$
516,454
$
527,401
Depreciation expense for the three months
ended March 31, 2022 and 2021 was $35,667 and $8,664, respectively
NOTE 5 – COST OF GOODS SOLD
LeeWay Global Logistics, Inc – Cost
of goods related to transportation income are the fees paid to motor carrier lines and independent owner/operators for the delivery
of freight contracted. The recording of the expenses is made concurrent with the revenue recognition for each load after a delivery
receipt is received.
LeeWay Capital, Inc. – Cost of goods
related to the financing service income is the cost of capital obtained to fund the agreements entered into with clients. Funding
is provided under a subordinated promissory note. The note provides for an interest rate of 12% per annum and has a maturity date
of November 1, 2022. (See Note 7 – Notes Payable).
F-
12
NOTE 6 – SEGMENT REPORTING
We report segment information consistent
with our two major operations: transportation and financing.
Transportation
LeeWay Transportation, Inc., the transportation
segment includes revenues and costs related to our transportation brokerage operation. All business activity is confined to the
continental United States, and as such there is no breakout between domestic and international revenues and expenses.
Financial Services
LeeWay Capital, Inc., the financial services
segment, includes revenues and costs related to the providing of financing to individuals and entities that sell products on various
sales platforms, such as Amazon, Walmart and Shopify. As one of the requirements is that the individual and/or entity be domiciled
in the United States, there is no breakout between domestic and international revenues and expenses.
Corporate
LeeWay Services, Inc., which was incorporated in October 2021,
had minimal activity in the year ended December 31, 2021 and no activity during the year ended December 31, 2020. 2022 business
expenses relate to personnel costs and office expenses.
Key information, broken out by business segment on the income
statements for the three months ended March 31, 2022 is as follows:
For the Quarter Ended March 31, 2022
Transportation
Financing
Corporate
Total
Net sales
$
12,082,377
$
151,347
-
$
12,233,724
Cost of sales
9,633,516
71,961
-
9,705,477
Gross profit
2,448,861
79,386
-
2,528,247
Operating expenses
1,180,217
291,944
155,701
1,627,862
Operating profit
$
1,268,644
$
(212,558
)
$
(155,701
)
$
900,385
NOTE 7 – NOTES PAYABLE
On November 1, 2018, eCommerce Funding entered into a note payable
in the amount of $500,000 with SWL Investments, an Oklahoma limited partnership, to provide operating funds to LeeWay Capital.
On April 1, 2019, the note was amended to provide up to a total of $1,500,000 in funding under the note. The note bears interest
at the rate of 12% per annum and has a maturity date of November 1, 2022. Under the terms of the note the interest is to be accrued
and is due and payable with the principal on the maturity date. Funds are drawn against this note as required to fund the operations
and business activities of the Company. At March 31, 2022 and December 31, 2021 the funds drawn against this note were $1,516,895
and $1,723,206 respectively.
F-
13
NOTE 8 – COMMITMENTS AND CONTINGENCIES
The Company currently occupies approximately
3,492 square feet of office space under a sublease from Uinta Advisors, LLC. The sublease was entered into effective November 1,
2018 and has a termination date of July 31, 2022. The sublease provides a monthly lease of $6,984 per month with 3% increases become
effective on August 1 for each year of the sublease. The Company has accounted for the lease using the guidance from ASC 842, recording
an operating right-of use-asset and an operating lease liability. (See Note 2 - Leases)
In December 2019, a novel strain of coronavirus
was reported to have surfaced in Wuhan, China, which has and is continuing to spread throughout China and other parts of the world,
including the United States. On January 30, 2020, the World Health Organization declared the outbreak of the coronavirus disease
(COVID-19) a "Public Health Emergency of International Concern." On January 31, 2020, U.S. Health and Human Services
Secretary Alex M. Azar II declared a public health emergency for the United States to aid the U.S. healthcare community in responding
to COVID-19, and on March 11, 2020 the World Health Organization characterized the outbreak as a "pandemic". The significant
outbreak of COVID-19 has resulted in a widespread health crisis that could adversely affect the economies and financial markets
worldwide, and could adversely affect our business, results of operations and financial condition.  The ultimate
extent of the impact of any epidemic, pandemic or other health crisis on our business, financial condition and results of operations
will depend on future developments, which are highly uncertain and cannot be predicted, including new information that may emerge
concerning the severity of such epidemic, pandemic or other health crisis and actions taken to contain or prevent their further
spread, among others. These and other potential impacts of an epidemic, pandemic or other health crisis, such as COVID-19,
could therefore materially and adversely affect our business, financial condition and results of operations.
NOTE 9 – RELATED PARTY TRANSACTIONS
The Company entered into a note payable
with SWL Investments (See Note 7 – Notes Payable). SWL Investments is an Oklahoma limited partnership owned and operated
by S. Whitfield Lee, who is an affiliate, officer and director of both LeeWay Capital, Inc. and LeeWay Services, Inc., the parent
company of LeeWay Capital, Inc.
The office space leased by the Company
is shared with W.L.P. Corporation ("WLP"), a related party. Under the shared space agreement WLP pays one-half of the
monthly lease fee and related expenses. The lease expense recorded in these financial statements only records as expenses the portion
of the lease expenses which are the responsibility and were paid by LeeWay Services, Inc.
NOTE 10 – SUBSEQUENT EVENTS
The Company has evaluated subsequent events
pursuant to ASC Topic 855 and has determined that there are no events that require disclosure as of the date of issuance.
F-
14
LeeWay Services, Inc.
Combined Financial Statements (Audited)
At December 31, 2021 and 2020
and for the Years Then Ended
F-
15
REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM
To the Board of Directors and Shareholders of
LeeWay Services, Inc.
Opinion on the Financial Statements
We have audited the accompanying combined balance
sheets of LeeWay Services, Inc. and Subsidiaries ("the Company") as of December 31, 2021 and 2020, and the related
combined statements of operations, changes in stockholders' deficit, and cash flows for each of the years in the two-year
period ended December 31, 2021, and the related notes (collectively referred to as the financial statements). In our opinion, the
financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2021 and
2020 and the results of its operations and its cash flows for each of the years in the two-year period ended December 31, 2021,
in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based
on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB)
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with
the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether
the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have,
nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required
to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the
effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to
assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made
by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a
reasonable basis for our opinion.
Critical Audit Matters
The critical audit matters communicated below
are matters arising from the current period audit of the financial statements that were communicated or required to be communicated
to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved
our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any
way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matters below,
providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.
Valuation for Accounts Receivable —
Refer to Note 2 to the financial statements
Critical Audit Matter Description
The Company has recognized an allowance on
trade accounts receivable and financing receivables. The Company recognizes a valuation allowance based on historical collection
experience and specific account analysis for its receivables. Significant judgment is needed in determining the appropriate allowance
against receivables.
Auditing management's valuation for allowance
was highly judgmental due to estimation required to determine likely future collections on accounts and financing receivables.
How the Critical Audit Matter Was Addressed
in the Audit
Our principal audit procedures to evaluate
management's valuation of allowance on receivables consisted of the following, among others:
·
We evaluated management's policies
for reviewing and assessing allowances.
·
We selected a sample of significant outstanding
balances for confirmation and further testing of collectability.
·
We evaluated management's accounting
estimates related to its financing receivables and tested those estimates.
We have served as the Company's auditor since 2021.
Spokane, Washington
May 4, 2022
F-
16
LeeWay Services, Inc.
Combined Balance Sheets
December 31,
2021
2020
ASSETS
CURRENT ASSETS
Cash
$
337,938
$
293,078
Accounts receivable, trade, net
4,848,326
2,565,714
Accounts receivable, financing, net
1,750,136
1,367,423
Other current assets
59,838
39,543
Total current assets
6,996,238
4,265,758
Property and equipment, net
527,401
61,289
Operating lease right-of-use asset
24,110
63,722
Deferred income tax asset
57,674
153,275
Total Assets
$
7,605,423
$
4,544,044
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable
$
3,601,419
$
1,784,134
Accrued liabilities
315,901
146,956
Short-term debt
685,000
685,000
Operating lease liability – current portion
26,261
45,006
Notes payable – related party
1,723,555
1,988,786
Total current liabilities
4,754,105
4,754,105
Notes payable – PPP loan – long term
-
208,446
Subordinated debt
1,723,206
1,089,272
Operating lease liability
-
23,783
Total liabilities
8,075,342
5,971,383
STOCKHOLDERS' EQUITY
Preferred stock, $0.001 par value, 20,000,000 shares authorized; 2,000 shares issued and outstanding
2
2
Common stock, $0.001 par value, 180,000,000 shares authorized; 30,000,000 shares issued and outstanding
30,000
30,000
Additional paid-in capital
-
-
Retained earnings deficit
(499,921
)
(1,457,341
)
Total stockholders' deficit
(469,919
)
(1,427,339
)
Total liabilities and stockholders' equity
$
7,605,423
$
4,544,044
The accompanying notes are an integral
part of these condensed financial statements.
F-
17
LeeWay Services, Inc.
Combined Statements of Operations
For the Years Ended
December 31,
2021
2020
Revenues
Transportation income
$
27,316,857
$
13,471,155
Financing service income
580,647
440,385
Total revenue
27,897,504
13,911,540
Cost of goods sold
Transportation costs
23,377,335
11,773,778
Financing costs
147,934
105,171
Total cost of goods sold
23,525,269
11,878,949
Gross profit
4,372,235
2,032,591
Operating expenses
Payroll and consultants
2,166,425
1,276,964
Sales and marketing
474,084
265,321
General and administrative
541,684
323,840
Depreciation
48,610
26,662
Total operating expenses
3,230,803
1,892,787
Income (loss) from operations
1,141,432
139,804
Gain on PPP loan forgiveness
208,446
-
Interest expense
(39,639
)
(3,851
)
Income (loss) before income tax
1,310,239
135,953
Income tax benefit (expense)
(352,818
)
(77,375
)
Net income (loss)
$
957,421
$
58,578
Basic and diluted earnings (loss) per share
$
0.03
$
0.00
Weighted average common shares outstanding –
basic and diluted
30,000,000
30,000,000
The accompanying notes are an integral
part of these condensed financial statements.
F-
18
LeeWay Services, Inc.
Combined Statements of Stockholders'
Deficit
Preferred Stock
Common Stock
Additional
Paid-in
Shares
Amount
Shares
Amount
Capital
Deficit
Total
Balance – December 31, 2019
2,000
$
2
30,000,000
$
30,000
$
-
$
(1,515,919
)
$
(254,537
)
Net income – Year ended December 31, 2020
-
-
-
-
-
58,578
58,578
Balance – December 31, 2020
2,000
2
30,000,000
30,000
-
(1,457,341
)
(1,427,339
)
Net income – Year ended December 31, 2021
-
-
-
-
-
957,421
957,421
Balance – December 31, 2021
2,000
$
2
30,000,000
$
30,000
$
-
$
(499,921
)
$
(469,919
)
The accompanying notes are an integral
part of these condensed financial statements.
F-
19
LeeWay Services, Inc.
Combined Statements of Cash Flows
For the Years Ended
December 31,
2021
2020
Net income (loss)
$
957,421
$
58,578
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation
48,610
26,662
Gain on forgiveness of debt – PPP loan
(208,446
)
-
Changes in operating assets and liabilities:
Accounts receivable
(2,665,325
)
(1,511,284
)
Other current assets
(20,295
)
961
Deferred tax asset
95,601
(128,890
)
Operating lease – Right-of-use asset
39,612
37,573
Accounts payable
1,817,285
597,148
Accrued liabilities
168,945
50,592
Lease liabilities – long-term
(42,528
)
(39,184
)
Net cash provided by (used in) operating activities
190,880
(907,844
)
Investing activities:
Property and equipment
(514,723
)
(40,114
)
Net cash used in investing activities
(514,723
)
(40,114
)
Financing activities:
Short-term debt
-
100,000
Note payable – related party
(265,231
)
461,327
Note payable – PPP loan
-
208,446
Subordinated debt
633,934
315,171
Net cash provided by financing activities
368,703
1,084,944
Net change in cash
44,860
136,986
Cash at beginning of period
293,078
156,092
Cash at end of period
$
337,938
$
293,078
Supplemental cash information:
Cash paid for:
Interest
$
-
$
-
Taxes
$
-
$
-
The accompanying notes are an integral
part of these condensed financial statements.
F-
20
LEEWAY SERVICES, INC.
Notes to the Combined Financial Statements
NOTE 1
-
BASIS OF FINANCIAL STATEMENT
PRESENTATION
The accompanying combined financial statements
have been prepared by the Company pursuant to accounting principles generally accepted in the United States of America. The information
furnished in the combined financial statements includes normal recurring adjustments and reflects all adjustments, which, in the
opinion of management, are necessary for a fair presentation of such financial statements. Management believes the disclosures
and information presented are adequate to make the information not misleading
NOTE 2 - ORGANIZATION AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES
ORGANIZATION AND LINE OF BUSINESS:
LeeWay Services, Inc. (the Company) was
incorporated under the laws of the State of Nevada on October 12, 2021. The Company was organized to engage in any lawful activity
for which corporations may be organized under Nevada statute.
LeeWay Services, Inc. has two wholly owned
subsidiaries: LeeWay Transportation, Inc., a corporation incorporated under the laws of the State of Nevada on July 1, 2015, as
LeeWay Global Logistics, Inc. and LeeWay Capital, Inc., a corporation incorporated under the laws of the State of Utah on September
25, 2014, as Bridge Capital Lenders, Inc.
The principal business of LeeWay Transportation,
Inc. is to provide technology-based third-party logistics (3PL) and comprehensive management solutions for shippers, brokers and
carriers in the transportation industry. LeeWay Transportation, Inc. has two wholly owned subsidiaries: LeeWay Global Logistics
LLC, a limited liability company organized under the laws of the State of Nevada on September 6, 2007, and LeeWay Freight Lines,
a corporation incorporated under the laws of the State of California on September 19, 1957, as Evans Talk Line, Inc.
The principal business of LeeWay Capital,
Inc. is to provide financial services for a broad range of clients. LeeWay Capital has two wholly owned subsidiaries: eCommerce
Financing, a limited liability company organized under the laws of the State of Utah on June 13, 2018, and eCommerce Funding, a
limited liability company organized under the laws of the State of Utah on November 2, 2018.
SIGNIFICANT ACCOUNTING POLICIES:
PRINCIPLES OF CONSOLIDATION: In accordance
with ASC 805-50-45-5, for transactions between entities under common control, financial statements and financial information presented
for prior periods should be retroactively adjusted to furnish comparative information. The wholly owned subsidiaries combined in
this financial presentation were not acquired until December 31, 2021, but as they were under common control, the acquisition and
merger is recognized retroactively in these financial statements as if it had occurred on January 1, 2020
USE OF ESTIMATES: The preparation of financial
statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities at the date of the combined financial statements and the reported amounts
of revenue and expenses during the reporting periods.  Actual results could differ from those estimates.
CASH AND CASH EQUIVALENTS: Cash and cash
equivalents are considered to be cash, as are highly liquid securities with original maturities of three months or less. While
the total cash on hand at December 31, 2021, of $337,938 exceeds the FDIC insurance limit of $250,000, the total cash balance is
comprised of accounts at several banks. The total cash in all accounts at any one financial institution at December 31, 2021, does
not exceed the $250,000 FDIC insurance limit and are therefore not at risk.
F-
21
FAIR VALUE MEASUREMENTS: The fair value
of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an
orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial
liabilities ae marked to offer prices. The fair value should be calculated based on assumptions that market participants would
use in pricing the asset or liability, not on assumptions specific to the entity. In addition, the fair value of liabilities should
include consideration of non-performance risk, including the party's own credit risk.
Fair value measurements do not include
transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine
fair values. Categorization within the fair value hierarch is based on the lowest level of input that is significant to the fair
value measurement. The fair value hierarchy is defined into the following three categories:
Level 1: Quoted market prices
in active markets for identical assets or liabilities.
Level 2: Observable inputs other
than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume
or infrequent transactions (less active markets); pr mode-driven valuations in which all significant inputs are observable or can
be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities.
Level 3: Unobservable inputs
to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.
To the extent that valuation is based on
models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment.
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy within which
the fair value measurement is disclosed and is determined based on the lowest level input that is significant to the fair value
measurement.
The carrying value of the Company's
cash, accounts payable and other current assets and liabilities approximate fair value because of their short-term maturity.
ACCOUNTS RECEIVABLE: Accounts receivables
are presented net of an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for estimated losses.
The Company reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as
to the collectability of individual balances. In evaluating the collectability of individual receivable balances, the Company considers
a number of factors, including the age of the balance, a customer's historical payment history, its current creditworthiness
and current economic trends. Accounts are written off only after exhaustive efforts at collection. At December 31, 2021 and 2020,
the Company had trade accounts receivable, net of the allowance, of $4,848,566 and $2,565,714, respectively, and financing accounts
receivable, net of the allowance, of $1,750,136 and $1,367,423, respectively. At December 31, 2021 and 2020, the allowance for
doubtful accounts was $379,694 and $188,196, respectively.
Accounts Receivable – Trade: Invoice
terms for our freight brokerage business are generally net 30. However, to capture the business of our largest account, we were
required to extend terms of net 60, as that is the term they currently received. Our accounts are monitored and, 7-10 days before
the due date, the client is contacted to insure they have all documents required in order for them to make payment. Any missing
documents are immediately provided to ensure that payment will be made timely.
F-
22
Accounts Receivable – Financing:
Amounts due under the Company's agreements with customers are stated at their outstanding balance, which balance includes
the fee charged for the term of the agreement. The Company holds and services these agreements until the balance has been paid.
Funds are provided our customers over a short term, ranging from three months to nine months. Based on the calculation for eligibility,
it is expected that each of the agreements will be fully paid within the term established. Our ecommerce financing services are
provided for a flat fee for the original term of the loan. The fee is amortized ratably over the term of the agreement. Payments
on the balance are processed concurrent with each payment the customer receives from the sales platform they are using, such as
Amazon, or Walmart. The customer, as part of the agreement, authorizes us to draw payments from their account by ACH, which provides
an efficient and effective method. The payments collected are established as a percent of the funds received by the customer, which
percentage rate is determined at the origination of the agreement. In cases where the customer's sales are increasing the
balance will generally be fully retired prior to the original maturity date. In instances where sales decline, as we saw many do
during the early stages of the COVID pandemic, an unpaid balance remained at the maturity date of the agreement. The agreement
allows an additional fee to be charged on the account each month in which the balance remains unpaid. Should a customer close the
bank account to which we have been permissioned to draw collections, they are asked to provide authority on their new account.
Should a customer refuse to provide such access, a notice of default is sent and if no resolution is made during the cure period
established, collection efforts are initiated on the account. Such collection efforts include notifying the sales platform (Amazon
or Walmart) that our customer is in default and requesting that the remaining amount due under the agreement be remitted to us
from the reserves being held. Where reserves are insufficient to pay the balance due the account is referred to an attorney to
begin collection efforts.
CONCENTRATION AND CREDIT RISK:
The Company has two customers which represent
a significant portion of revenue and three customers which represent a significant portion of their accounts receivable. During
the year ended December 31, 2021, McCain Foods USA, Inc. ("Customer 1") and Ruan Transport Corporation ("Customer
2") represented in an aggregate approximately 74% of revenue. During the year ending December 31, 2020 Customer 1 and Customer
2 represented approximately 56% of the Company's revenue. Revenue related to these two customers is set forth in the table
below. Also, Customer 1, Customer 2 and Warren Distributors ("Customer 3") in an aggregate represented approximately
44% of the Company's accounts receivable as of the year ended December 31, 2021 and Customer 1, Customer 2, Customer 3 in
an aggregate represented approximately 85% of the Company's accounts receivable as of December 31, 2020.
2021
2020
Customer
Revenue
Percent of Revenue
Revenue
Percent of Revenue
Customer 1
$
16,358,527
58.64
%
$
5,164,104
37.03
%
Customer 2
$
4,416,242
15.83
%
$
2,647,296
19.03
%
2021
2020
Customer
Accounts
Receivable
Percent of Accounts
Receivable
Accounts
Receivable
Percent of Accounts
Receivable
Customer 1
$
3,089,093
35.73
%
$
1,055,937
52.07
%
Customer 2
$
315,891
4.79
%
$
445,918
21.99
%
Customer 3
$
221,693
3.31
%
$
218,622
10.78
%
PROPERTY AND EQUIPMENT: Property and equipment
are stated at cost. Additions and major improvements are capitalized while maintenance and repairs are charged to operations. Upon
trade-in, sale or retirement of property and equipment, the related cost and accumulated depreciation are removed from the accounts
and any gain or loss is recognized. Depreciation is computed using the straight-line method and is recognized over the estimated
useful lives of the property and equipment, which range from one to seven years.
VALUATION OF LONG-LIVED ASSETS: The carrying
values of the Company's long-lived assets are reviewed for impairment annually and whenever events or changes in circumstances
indicate that they may not be recoverable. When projections indicate that the carrying value of the long-lived asset is not recoverable,
the carrying value is reduced by the estimated excess of the carrying value over the projected discounted cash flows. Under similar
analysis no impairment charge was taken during the years ended December 31, 2021 and 2020. Impairment tests will be conducted on
an annual basis and, should they indicate a carrying value in excess of fair value, impairment charges may be required to be recognized
and recorded.
LEASES:
The Company, in accordance with ASC 842, accounts for leases as right-of-use ("ROU") assets and lease liabilities on
the balance sheet. We estimate our incremental borrowing rate, which is defined as the interest rate we would pay to borrow on
a collateralized basis, considering such factors as length of lease term and the risks of the economic environment in which the
leased asset operates. The lease term used to calculate ROU assets and lease liabilities only includes renewal and termination
options that are deemed reasonably certain to be exercised.
REVENUE RECOGNITION:  The Company
has adopted and accounts for revenue under the guidance provided by ASC 606,
Revenue from Contracts with
Customers, and
all related amendments ("new revenue standard"). We have applied the new revenue standard to all contracts from the
date of initial application.
F-
23
LeeWay Transportation, Inc. recognizes
revenue at the time the signed proof of delivery receipt ("POD") is received, at which time control of the goods transported
is transferred to the customer. ASC 606-10-25-27 requires that revenue be recognized over time if any one of the three criteria
listed is met. Our service does not meet any of the listed criteria. ASC 606-10-55-6 states that revenue is to be recognized over
time if only a portion of the company's obligations are performed and the remaining obligations could be completed by another
entity. However, in such instance, revenue could not be recognized over the term, as all obligations have not been fulfilled and
control had not yet been transferred to the customer. In addition, where the goods have not been delivered the collectability of
the fees would not be reasonably assured, nor would there be basis to force payment, as the service had not been completed. Therefore,
revenue is recognized at a point in time, that measurement being when the carrier has delivered the freight to the designated destination
and a POD has been signed. There being no other performance obligations the revenue is recognized at that point.
In accordance with ASC 606-10-55-36 through
40, revenue is recorded at the gross amount of the contract because it bears the risks and benefits associated with revenue-generated
activities by, among other things: (1) acting as a principal in the transaction; (2) establishing prices; (3) managing all aspects
of the shipping process; and (4) taking the risk of loss for collection, delivery and returns. The gross amount represents the
amount for which the Company will receive payment from the customer. The sales process begins with a price quotation to the customer
and the Company then identifies a carrier to make the delivery. The cost which the Company incurs with the carrier identified and
contracted to deliver the freight is recorded as cost of sales, with the difference between the price agreed upon with the customers
and the cost of delivery representing the gross profit on that individual transaction.
The Company's payment terms are net
30 with the exception of its largest customer, for which payment terms are net 60. Our competitors provide services to our largest
customer with terms of net 60. The Company is required to offer the same payment terms as its competitors in order to secure the
customer's business.
The Company's customer contract sets
forth its performance obligations under those contracts. The Company's obligation is to transport the contracted goods to
the delivery point, as directed by our customer. The arrival of the contracted goods at the destination and the receipt by the
Company of a signed POD completes its obligations and it can then record as revenue the price agreed upon for the services provided.
Revenue is only recognized by the Company after its receipt of the signed POD. Were a shipment to be in transit at month-end there
is no revenue recognized, as the Company has not yet completed its contractual obligations.
LeeWay Capital, Inc. recognizes revenue
ratably over the term of the agreement. Revenue on each agreement is the total due under the agreement less the funded amount.
In those instances where the customers' obligations are not fully paid at the termination date of the agreement, additional
fees charged are calculated on the unpaid balance and recorded monthly. The accounts are charges rates of interest ranging from
30% to 50% per annum, depending on the creditworthiness of the customer and the term of the agreement.
The table below allocates revenue recorded
for the years ended December 31, 2021 and 2020:
For the years ended:
December 31, 2021
December 31, 2020
Transportation
Financing
Transportation
Financing
Fees
Fees
Total
Fees
Fees
Total
Domestic
$
27,316,857
580,647
27,897,504
$
13,471,155
440,385
13,911,540
International
-
-
-
-
-
-
$
27,316,857
580,647
27,897,504
13,471,155
440,385
13,911,540
INCOME TAXES:
The Company
accounts for income taxes in accordance with Statement of Financial Accounting Standards Board Accounting Codification (ASC) 740:
Income Taxes.  Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the
differences are expected to reverse.  Deferred tax assets will be reflected on the balance sheet when it is determined that
it is more likely than not that the asset will be realized
NET INCOME (LOSS) PER SHARE: The computation
of basic profit and loss per share of common stock is based on the weighted average number of shares outstanding during the period.
Diluted EPS is computed by dividing net earnings by the weighted-average number of common shares and dilutive common stock equivalents
during the period. Common stock equivalents are not used in calculating dilutive EPS when their inclusion would be anti-dilutive.
At December 31, 2021 and 2020, the Company had no common stock equivalents.
F-
24
RECENT ACCOUNTING PRONOUNCEMENTS: In December
2019, the Financial Standards Accounting Board ("FASB") issued ASU 2019-12, "Income Taxes Topic 740-Simplifying
the Accounting for Income Taxes" which intended to simplify various aspects related to accounting for income taxes. ASU 2019-12
removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent
application of Topic 740. The effective date will be the first quarter of fiscal year 2021 and early adoption is permitted. The
Company adopted ASU 2019-12 effective January 1, 2021. The adoption of this standard had no impact on our combined financial statements
or disclosures.
In June 2018, the FASB issued ASU No. 2018-07,
"Compensation — Stock Compensation (Topic 718)," ("ASU 2018-07"). ASU 2018-07 is intended to reduce
cost and complexity of financial reporting for non-employee share-based payments. Currently, the accounting requirements for non-employee
and employee share-based payments are significantly different. ASU 2018-07 expands the scope of Topic 718, which currently only
includes share-based payments to employees, to include share-based payments to non-employees for goods or services. Consequently,
the accounting for share-based payments to non-employees and employees will be substantially aligned. This ASU supersedes Subtopic
505-50, "Equity — Equity-Based Payments to Nonemployees". The amendments to ASU 2018 - 07 are effective for fiscal
years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption
is permitted, but no earlier than a company's adoption date of ASU No. 2014-09, (Topic 606), "Revenue from Contracts
with Customers". The Company adopted ASU 2018-07 effective January 1, 2020. The adoption of this standard had no impact on
our combined financial statements or disclosures.
In June 2016, the FASB issued ASU 2016-13,
"Financial Instruments – Credit Losses"
. The ASU sets forth a "current expected credit loss"
("CECL") model which requires the Company to measure all expected credit losses for financial instruments held at the
reporting date on historical experience, current conditions, and reasonable and supportable forecasts. This replaces the existing
incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies
to some off-balance sheet credit exposures. This ASU was effective for fiscal years beginning after December 15, 2019, including
interim periods within those fiscal years, with early adoption permitted. In November 2019, the FASB issued ASU 2019-10 which deferred
the effective date to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The
Company is currently evaluating the impact this guidance will have on its combined financial statements.
The Company has reviewed all other FASB-issued
ASU accounting pronouncements and interpretations thereof that have effective dates during the period reported and in future periods.
The Company has carefully considered the new pronouncements that alter previous GAAP and does not believe that any new or modified
principles will have a material impact on the Company's reported financial position or operations in the near term. The applicability
of any standard is subject to the formal review of the Company's financial management and certain standards are under consideration.
NOTE 3 – LEASES
We have an operating lease for our office. We used the lease
termination date of July 31, 2022 for our calculation.
The following was included in our combined balance sheet as
of December 31, 2021 and 2020:
As of December 31,
Lease
2021
2020
Assets
ROU – operating lease asset
$
24,110
$
63,722
Liabilities
Operating lease liabilities – current portion
$
26,261
$
45,006
Operating lease liabilities
-
23,783
Total operating lease liabilities
$
26,261
$
68,789
F-
25
We recognize lease expense on a straight-line basis over the
term of the lease.
For the Year Ended December 31,
Lease Cost
2021
2020
Rent expense
$
42,090
$
42,090
Our building lease does not specify an
implicit rate of interest. Therefore, we estimate our incremental borrowing rate, which is defined as the interest rate we would
pay to borrow on a collateralized basis, considering such factors as length of lease term and the risks of the economic environment
in which the leased asset operates. As of December 31, 2021, the following disclosures for remaining lease term and incremental
borrowing rates were applicable:
For the Years Ended December 31,
Supplemental Disclosures
2021
2020
Weighted average remaining lease term
0.58 years
1.58 years
Weighted average discount rate
5.00
%
5.00
%
F-
26
NOTE 4 -   PROPERTY AND EQUIPMENT
Property and equipment and related accumulated
depreciation consisted of the following at December 31, 2021, and December 31, 2020:
December 31, 2021
December 31, 2020
Computer and office equipment
$
9,114
$
9,114
Software
138,957
94,351
Refrigerated trailers
466,635
-
Accumulated depreciation
(83,536
)
(42,176
)
Total Property and Equipment
$
527,401
$
61,289
Depreciation expense for the years ended
December 31, 2021 and 2020 was $48,610 and $26,662, respectively.
NOTE 5 – COST OF GOODS SOLD
Cost of goods sold is comprised of costs
as follows:
LeeWay Global Logistics, Inc – Cost
of goods related to transportation income are the fees paid to motor carrier lines and independent owner/operators for the delivery
of freight contracted. The recording of the expenses is made concurrent with the revenue recognition for each load after a delivery
receipt is received.
LeeWay Capital, Inc. – Cost of goods
related to the financing service income is the cost of capital obtained to fund the agreements entered into with customers. Funding
is provided under a subordinated promissory note. The note provides for an interest rate of 12% per annum and has a maturity date
of November 1, 2022. (See Note 6 – Notes Payable)
NOTE 6 – SEGMENT INFORMATION
We report segment information consistent
with our two major operations: transportation and financing.
Transportation
LeeWay Transportation, Inc., the transportation
segment includes revenues and costs related to our transportation brokerage operation. All business activity is confined to the
continental United States, and as such there is no breakout between domestic and international revenues and expenses.
Financial Services
LeeWay Capital, Inc., the financial services
segment, includes revenues and costs related to the providing of financing to individuals and entities that sell products on various
sales platforms, such as Amazon, Walmart and Shopify. As one of the requirements is that the individual and/or entity be domiciled
in the United States, there is no breakout between domestic and international revenues and expenses.
Corporate
LeeWay Services, Inc., which was incorporated
in October 2021, had minimal activity in the year ended December 31, 2021 and no activity during the year ended December 31, 2020.
Therefore, no corporate balances are reflected in the presentations for 2020.
F-
27
Key information, broken out by business
segment on the balance sheets at December 31, 2021 and 2020 and on the income statements for the years ended December 31, 2021
and 2020, is as follows:
Balance Sheets:
At December 31, 2021
Transportation
Financing
Corporate
Total
Cash
$
262,392
$
75,546
$
-
$
337,938
Receivables, net
4,848,326
1,750,136
-
6,598,462
Other current assets
59,838
-
-
59,838
Total current assets
5,170,556
1,825,682
-
6,996,238
Property and equipment, net
458,806
68,595
-
527,401
Other assets
60,460
21,324
-
81,784
Total assets
$
5,689,822
$
1,915,601
$
-
$
7,605,423
Accounts payable
$
3,554,062
$
47,357
$
-
$
3,601,419
Other liabilities
1,879,607
2,515,654
78,662
4,473,923
Total liabilities
5,433,669
2,563,011
78,662
8,075,342
Stockholders' equity (deficit)
256,153
(647,410
)
(78,662
)
(469,919
)
Total liabilities and stockholders' equity
$
5,689,822
$
1, 915,601
$
-
$
7,605,423
At December 31, 2020
Transportation
Financing
Total
Cash
$
136,917
$
156,161
$
293,078
Receivables, net
2,565,714
1,367,423
3,933,137
Other current assets
39,543
-
39,543
Total current assets
2,742,174
1,523,584
4,265,758
Property and equipment, net
3,056
58,233
61,289
Other assets
192,070
24,927
216,997
Total assets
$
2,937,300
$
1,606,744
$
4,544,044
Accounts payable
$
1,782,766
$
1,369
$
1,784,135
Other liabilities
2,192,378
1,994,870
4,187,248
Total liabilities
3,975,144
1,996,239
5,971,383
Stockholders' deficit
(1,037,844
)
(389,495
)
(1,427,339
)
Total liabilities and stockholders' equity
$
2,937,300
$
1,606,744
$
4,544,044
F-
28
Income Statements:
For the Year Ended December 31, 2021
Transportation
Financing
Corporate
Total
Revenue
$
27,316,857
$
580,647
$
-
$
27,897,504
Cost of Goods Sold
23,377,335
147,934
-
23,525,269
Gross Profit
3,939,522
432,713
-
4,372,235
Operating expenses
2,334,228
739,301
108,664
3,182,193
Depreciation
10,886
37,724
-
48,610
Interest income  (expense)
(39,639
)
-
-
(39,639
)
Gain on PPP loan forgiveness
208,446
-
-
208,446
Income (loss) before income tax
1,763,215
(344,312
)
(108,664
)
1,310,239
Income tax benefit (expense)
(439,217
)
86,399
-
(352,818
)
Net income (loss)
$
1,323,998
$
(257,913
)
$
(108,664
)
$
957,421
For the Year Ended December 31, 2020
Transportation
Financing
Total
Revenue
$
13,471,155
$
440,385
$
13,911,540
Cost of Goods Sold
11,773,778
105,171
11,878,949
Gross Profit
1,697,377
335,214
2,032,591
Operating expenses
1,413,734
452,391
1,866,125
Depreciation
2,193
24,469
26,662
Interest income  (expense)
(3,851
)
-
(3,851
)
Income (loss) before income tax
277,599
(141,646
)
135,953
Income tax benefit (expense)
(77,375
)
-
(77,375
)
Net income (loss)
200,224
(141,646
)
58,578
NOTE 7 - NOTES PAYABLE
On November 1, 2018,
eCommerce Funding entered into a note payable in the amount of $500,000 with SWL Investments, an Oklahoma limited partnership,
to provide operating funds to LeeWay Capital. On April 1, 2019, the note was amended to provide up to a total of $1,500,000 in
funding under the note. On November 1, 2021 the note was amended to provide for up to a total of $2,200,000 and the maturity date
was extended to November 1, 2027. The note bears interest at the rate of 12% per annum and has a maturity date of November 1, 2027.
Under the terms of the note the interest is to be accrued and is due and payable with the principal on the maturity date. Funds
are drawn against this note as required to fund the operations and business activities of the Company. At December 31, 2021 and
2020 the funds drawn against this note were $1,723,206 and $1,089,272, respectively.
The Company applied
for and received a Small Business Administration loan under the Paycheck Protection Program ("PPM") in the amount of
$208,446. The loan was funded on May 29, 2020, bears an interest rate of 1% per annum and has a maturity date of May 29, 2022.
The funds obtained under this loan were used for the payment of salaries, health insurance costs, and rent, all of which expenses
qualify for the loan forgiveness under the terms of the loan. The Company applied for and on June 10, 2021 received notice of forgiveness
of both the principal of the note and all accrued unpaid interest.
NOTE 8 – CAPITAL STOCK
Preferred Stock – There are 20,000,000
shares of preferred stock authorized with a par value of $0.001. The preferred stock has super voting rights, which provide that
each share of preferred stock has voting rights equivalent to 10,000 shares of common stock. At December 31, 2021 and 2020, there
were 2,000 shares of preferred stock issued and outstanding.
Common Stock – There are 180,000,000
shares of common stock authorized with a par value of $0.001. At December 31, 2021 and 2020 there were 30,000,000 shares of common
stock issued and outstanding.
F-
29
NOTE 9 – COMMITMENTS AND CONTINGENCIES
The Company currently occupies approximately
3,492 square feet of office space under a sublease from Uinta Advisors, LLC. The sublease was entered into effective November 1,
2018 and has a termination date of July 31, 2022. The sublease provides a monthly lease of $6,984 per month with 3% increases become
effective on August 1 for each year of the sublease. The Company has accounted for the lease using the guidance from ASC 842, recording
an operating right-of use-asset and an operating lease liability. (See Note 3 - Leases)
In December 2019, a novel strain of coronavirus
was reported to have surfaced in Wuhan, China, which has and is continuing to spread throughout China and other parts of the world,
including the United States. On January 30, 2020, the World Health Organization declared the outbreak of the coronavirus disease
(COVID-19) a "Public Health Emergency of International Concern." On January 31, 2020, U.S. Health and Human Services
Secretary Alex M. Azar II declared a public health emergency for the United States to aid the U.S. healthcare community in responding
to COVID-19, and on March 11, 2020 the World Health Organization characterized the outbreak as a "pandemic". The significant
outbreak of COVID-19 has resulted in a widespread health crisis that could adversely affect the economies and financial markets
worldwide, and could adversely affect our business, results of operations and financial condition.  The ultimate
extent of the impact of any epidemic, pandemic or other health crisis on our business, financial condition and results of operations
will depend on future developments, which are highly uncertain and cannot be predicted, including new information that may emerge
concerning the severity of such epidemic, pandemic or other health crisis and actions taken to contain or prevent their further
spread, among others. These and other potential impacts of an epidemic, pandemic or other health crisis, such as COVID-19,
could therefore materially and adversely affect our business, financial condition and results of operations.
NOTE 10 -   RELATED PARTY TRANSACTIONS
The Company entered into a note payable with
SWL Investments (See Note 6 – Notes Payable). SWL Investments is an Oklahoma limited partnership owned and operated by S.
Whitfield Lee, who is an affiliate, officer and director of both LeeWay Capital, Inc. and LeeWay Services, Inc., the parent company
of LeeWay Capital, Inc.
The office space leased by the Company is shared
with W.L.P. Corporation ("WLP"), a related party. Under the shared space agreement WLP pays one-half of the monthly
lease fee and related expenses. The lease expense recorded in these financial statements only records as expenses the portion of
the lease expenses which are the responsibility and were paid by LeeWay Services, Inc.
NOTE 11 – INCOME TAXES
Prior to the incorporation of LeeWay Services,
Inc., the entities combined into this report were owned by W.L.P. Corporation, which filed a consolidated tax return. The deferred
income tax asset and income tax liability and expense included in these financial statements are reflective of the tax position
at the time the entities were acquired by LeeWay Services, Inc. The net operating loss carryforwards at December 31, 2021 and 2020
were incurred prior to January 1, 2022, when a change of greater than 50% in ownership of the subsidiary companies occurred. As
a result of the change in ownership, only a portion of the net operating loss carry forwards incurred prior to the change becomes
available each year.
The Company accounts for income taxes under
the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax
consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities
are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted
tax rates in effect for the year in which the differences are expected to reverse.
Federal and state net operating loss carry
forwards at December 31, 2021 and 2020 were $499,921 and $1,457,341, respectively.
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30
Net deferred tax assets consist of the following
components at December 31, 2021 and 2020:
2021
2020
NOL carryover
(499,921
)
(1,457,341
)
Provision for bad debts
379,694
188,196
Interest
39,639
3,851
Valuation allowance
80,588
1,265,294
Net deferred tax asset
-
-
The income tax provision differs from the amount
of income tax determined by applying the U.S. federal income tax rate to pretax income from continuing operations for the years
ended December 31, 2021 and 2020 due to the following:
2021
2020
Tax at statutory rate
352,818
28,350
Provision for bad debts
79,736
39,521
Interest
8,324
809
Change in valuation allowance
(440,878
)
(68,880
)
Income tax benefit
-
-
Under FASB ASC 740-10-05-6, tax benefits are
recognized only for the tax positions that are more likely than not to be sustained upon examination by tax authorities. The amount
recognized is measured as the largest amount of benefit that is greater than 50 percent likely to be realized upon ultimate settlement.
Unrecognized tax benefits are tax benefits claimed in the company's tax return that do not meet these recognition and measurement
standards.
The Company's policy is to recognize potential
interest and penalties accrued related to unrecognized tax benefits with the income tax expense. The tax years 2021, 2020 and 2019
remain open for examination for federal income tax purposes and by other major taxing jurisdictions to which the Company is subject.
NOTE 12 -   SUBSEQUENT EVENTS
The Company, during the year ended December
31, 2021, had need to increase its subordinated debt in order to provide funds for specialty financing agreements entered into.
The subordinated debt agreement was amended to allow for borrowings up to $2,200,000 and the maturity date was extended to November
1, 2027. The balance at December 31, 2021 was $1,733,206.
In accordance with ASC 855-10 management
reviewed all other material events through May 4, 2022. There are no other material subsequent events to report.
F-
31
Shares
of Common Stock
LeeWay Services, Inc.
PRELIMINARY PROSPECTUS
ThinkEquity
, 2022
Through and including             ,
2022 (the 25
th
day after the date of this offering), all dealers effecting transactions in these securities, whether
or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealer's obligation
to deliver a prospectus when acting as an underwriter and with respect to an unsold allotment or subscription.
Part II
INFORMATION NOT
REQUIRED IN PROSPECTUS
Item 13. Other
Expenses of Issuance and Distribution.
The following
table indicates the expenses to be incurred in connection with the offering described in this registration statement, other than
underwriting discounts and commissions, all of which will be paid by us. All amounts are estimated except the SEC registration
fee and the FINRA filing.
Amount
SEC registration fee
$
1,699.02
FINRA filing fee
$
3,249.22
Nasdaq listing fee
*
Accountants' fees and expenses
*
Legal fees and expenses
*
Printing and engraving expenses
*
Miscellaneous
*
Total expenses
$
*
*To be included
by amendment.
Item 14. Indemnification
of Directors and Officers.
Neither our articles
of incorporation nor bylaws prevent us from indemnifying our officers, directors and agents to the extent permitted under the
Nevada
Revised
Statutes ("NRS"). NRS Section 78.7502, provides that a corporation may indemnify any director, officer,
employee or agent of a corporation against expenses, including fees, actually and reasonably incurred by him in connection with
any defense to the extent that a director, officer, employee or agent of a corporation has been successful on the merits or otherwise
in defense of any action, suit or proceeding referred to Section 78.7502(1) or 78.7502(2), or in defense of any claim, issue or
matter therein.
NRS 78.7502(1) provides that a corporation
may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative or investigative, except an action by or in the right of the corporation,
by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or is or was serving at the
request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust
or other enterprise, against expenses, including fees, judgments, fines and amounts paid in settlement actually and reasonably
incurred by him in connection with the action, suit or proceeding if he: (a) is not liable pursuant to NRS 78.138; or (b) acted
in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the corporation, and,
with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful.
NRS Section 78.7502(2) provides that a corporation
may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action
or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that he is or was a director,
officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee
or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses, including amounts paid
in settlement and fees actually and reasonably incurred by him in connection with the defense or settlement of the action or suit
if he: (a) is not liable pursuant to NRS 78.138; or (b) acted in good faith and in a manner which he reasonably believed to be
in or not opposed to the best interests of the corporation. Indemnification may not be made for any claim, issue or matter as to
which such a person has been adjudged by a court of competent jurisdiction, after exhaustion of all appeals there from, to be liable
to the corporation or for amounts paid in settlement to the corporation, unless and only to the extent that the court in which
the action or suit was brought or other court of competent jurisdiction determines upon application that in view of all the circumstances
of the case, the person is fairly and reasonably entitled to indemnity for such expenses as the court deems proper.
NRS Section 78.747 provides that except as
otherwise provided by specific statute, no director or officer of a corporation is individually liable for a debt or liability
of the corporation, unless the director or officer acts as the alter ego of the corporation. The court as a matter of law must
determine the question of whether a director or officer acts as the alter ego of a corporation.
Our Amended Bylaws provide that we will indemnify
our directors and executive officers to the fullest extent not prohibited by the NRS, as amended from time to time, or any other
applicable law
provided, however,
that the we may modify the extent of such indemnification by individual contracts with
our directors and executive officers; and,
provided, further,
that we shall not be required to indemnify any director or
executive officer in connection with any proceeding (or part thereof) initiated by such person unless (i) such indemnification
is expressly required to be made by law, (ii) the proceeding was authorized by the Board of Directors of the corporation, (iii)
such indemnification is provided by the corporation, in its sole discretion, pursuant to the powers vested in the corporation under
the Act or any other applicable law or (iv) such indemnification is required to be made under the amended Bylaws. We have the power
to indemnify our other officers, employees and other agents as set forth in the NRS or any other applicable law. The Board of Directors
shall have the power to delegate the determination of whether indemnification shall be given to any such person except executive
officers to such officers or other persons as the Board of Directors shall determine. To the fullest extent permitted by the NRS,
or any other applicable law, upon approval by our Board of Directors, we may purchase insurance on behalf of any person required
or permitted to be indemnified pursuant to our amended Bylaws.
II-
1
If a claim is not paid in full by the Company,
the claimant may at any time thereafter bring suit against the Company to recover the unpaid amount of the claim and, if successful
in whole or in part, the claimant shall be entitled to be paid also the expense of prosecuting such claim. It shall be a defense
to any such action (other than an action brought to enforce a claim for expenses incurred in defending any proceeding in advance
of its final disposition where any undertaking required by the By-laws of the Company has been tendered to the Company) that the
claimant has not met the standards of conduct which make it permissible under the NRS for the Company to indemnify the claimant
for the amount claimed, but the burden of proving such defense shall be on the Company. Neither the failure of the Company (including
its Board of Directors, legal counsel, or its stockholders) to have made a determination prior to the commencement of such action
that indemnification of the claimant is proper in the circumstances because he or she has met the applicable standard of conduct
set forth in the NRS, nor an actual determination by the Company (including its Board of Directors, legal counsel, or its stockholders)
that the claimant has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that
the claimant has not met the applicable standard of conduct. Indemnification shall include payment by the Company of expenses in
defending an action or proceeding in advance of the final disposition of such action or proceeding upon receipt of an undertaking
by the person indemnified to repay such payment if it is ultimately determined that such person is not entitled to indemnification.
We intend to enter into separate indemnification
agreements with our directors and officers. Each indemnification agreement will provide, among other things, for indemnification
to the fullest extent permitted by law and our amended and restated certificate of incorporation and bylaws against any and all
expenses, judgments, fines, penalties and amounts paid in settlement of any claim. The indemnification agreements will provide
for the advancement or payment of all expenses to the indemnitee and for reimbursement to us if it is found that such indemnitee
is not entitled to such indemnification under applicable law and our articles of incorporation and bylaws.
We are in the process of obtaining standard
policies of insurance under which coverage is provided (a) to our directors and officers against loss rising from claims made
by reason of breach of duty or other wrongful act, and (b) to us with respect to payments which we may make to such officers
and directors pursuant to the above indemnification provision or otherwise as a matter of law.
The underwriting agreement, filed as Exhibit 1.1
to this registration statement, will provide for indemnification, under certain circumstances, by the underwriter of us and
our officers and directors for certain liabilities arising under the Securities Act or otherwise.
Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors, officers or persons controlling us under the foregoing provisions,
we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities
Act and is therefore unenforceable.
Item 15. Recent
Sales of Unregistered Securities.
Since the Company's incorporation on
May 5, 2021, it has granted or issued the following securities of the registrant that were not registered under the Securities
Act.
On December 31, 2021, the Company issued 30,000,000
shares of common stock to an accredited investor.
On February 3, 2021, the Company issued 2,000
shares of preferred stock to an accredited investor.
The issuance of the capital stock listed above
was deemed exempt from registration under Section 4(a)(2) of the Securities Act or Regulation D promulgated thereunder in that
the issuance of securities were made to an accredited investor and did not involve a public offering. The recipient of such securities
represented its intention to acquire the securities for investment purposes only and not with a view to or for sale in connection
with any distribution thereof.
II-
2
Item 16. Exhibits
and Financial Statement Schedules.
(a)
Exhibits
Exhibit
No.
Description
1.1*
Form of Underwriting Agreement
3.1
Certificate of Incorporation of the
    Registrant
3.2
Bylaws of The Registrant
3.3
Certificate of Designation of Series X Super Voting Preferred Stock
3.4
Certificate of Amendment to Designation of Series X Super Voting Preferred Stock
4.1*
Form of Underwriter's Warrant (included as an exhibit to Exhibit 1.1)
5.1*
Opinion of Counsel to Registrant
10.1
Food Transportation Services Agreement dated as of May 17, 2019
10.2
Motor Transportation Agreement Contract dated March 22, 2017
10.3
Subordinated Promissory Note dated November 1, 2018 of eCommerce Funding LLC
21.1
List of Subsidiaries of the Registrant
23.1
Consent of Fruci & Associates II, PLLC, dated June 13, 2022
23.2*
Consent of Nevada Counsel to Registrant (included in Exhibit 5.1)
107
Exhibit Filing Fees
99.1*
Consent of Jim Dreyfous (Director Nominee)
99.2
Consent of John Morrell (Director Nominee)
99.3
Consent of Charise Castagnoli (Director Nominee)
*
To be submitted by amendment
(b)
Financial Statement Schedules
:
All schedules are omitted because the required information is inapplicable or the information is presented in the financial statements
and the related notes.
Item 17. Undertakings.
The undersigned registrant hereby undertakes
to provide to the underwriters at the closing specified in the underwriting agreement, certificates in such denominations and registered
in such names as required by the underwriters to permit prompt delivery to each purchaser.
Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to
any charter provision, by law or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant
will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will
be governed by the final adjudication of such issue.
The undersigned registrant hereby undertakes
that:
(1) For purposes of determining
any liability under the Securities Act, the information omitted from the form of prospectus filed as part of this registration
statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule 424(b)(1) or
(4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared
effective.
(2) For the purpose of
determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus shall be
deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial bona fide offering thereof.
II-
3
SIGNATURES
Pursuant to the requirements of the Securities
Act of 1933, the registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized in the City of Salt Lake City, State of Utah, on June 13, 2022.
LEEWAY SERVICES, INC.
By:
/s/ S. Whitfield Lee
S. Whitfield Lee
Chairman, Chief Executive Officer and President
(Principal Executive Officer)
SIGNATURES AND POWER OF ATTORNEY
We, the undersigned officers and directors
of LeeWay Services, Inc. hereby severally constitute and appoint S. Whitfield Lee and Keith L. Merrell, and each of them singly
(with full power to each of them to act alone), our true and lawful attorneys-in-fact and agents, with full power of substitution
and re-substitution in each of them for him and in his name, place and stead, and in any and all capacities, to sign any and all
amendments (including post-effective amendments) to this registration statement (or any other registration statement for the same
offering that is to be effective upon filing pursuant to Rule 462(b) under the Securities Act of 1933), and to file the same, with
all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said
attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite
or necessary to be done in and about the premises, as full to all intents and purposes as he might or could do in person, hereby
ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their or his substitute or substitutes,
may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities
Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.
Name
Position
Date
/s/ S. Whitfield Lee
Chairman, Chief Executive Officer and President
June 13, 2022
S. Whitfield Lee
(Principal Executive Officer)
/s/ Keith L. Merrell
Chief Financial Officer
June 13, 2022
Keith L. Merrell
II-
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