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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the U.S. Securities and Exchange
Commission on November 12, 2024</B></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><B>Registration No. 333-[&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</B></P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1.5pt solid; font-size: 10pt; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; font-size: 10pt; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font-size: 10pt; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>5810</B></FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; font-size: 10pt; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; font-size: 10pt; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>47-4752305</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction of<BR>
 incorporation or organization)</TD>
    <TD STYLE="text-align: center; white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">(Primary Standard Industrial <BR>
Classification Code Number)</TD>
    <TD STYLE="text-align: center; white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">(I.R.S. Employer <BR>
Identification Number)</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>580 N. Berry Street</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Brea, CA 92821</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(714) 784-6369</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address, including zip code, and telephone number,
including area code, of registrant&rsquo;s principal executive offices)</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>580 N. Berry Street</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Brea, CA 92821</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(714) 784-6369</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2" STYLE="text-align: center"><B>Please send copies of all communications to:</B></TD></TR>
  <TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; width: 50%"><B>Lynne Bolduc, Esq.</B> <B><BR>
Josephine Rachelle Aranda, Esq. <BR>
</B> <B>FitzGerald Kreditor Bolduc Risbrough LLP<BR>
</B> <B>2 Park Plaza, Suite 850<BR>
</B> <B>Irvine, CA 92869<BR>
</B> <B>(949) 788-8900</B></TD>
    <TD STYLE="text-align: center; width: 50%"><B>Ralph De Martino, Esq.<BR>
 Marc Rivera, Esq.<BR>
 ArentFox Schiff LLP<BR>
1717 K Street NW<BR>
Washington, DC 20006 <BR>
(202) 724-6848</B></TD></TR>
  </TABLE>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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:
<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</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">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. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</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">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. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</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">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. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</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">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company.
See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo;
and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%"><FONT STYLE="font-size: 10pt">Large accelerated filer</FONT></TD>
    <TD STYLE="text-align: justify; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify; width: 25%"><FONT STYLE="font-size: 10pt">Accelerated filer</FONT></TD>
    <TD STYLE="text-align: justify; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Non-accelerated filer</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Smaller reporting company</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Emerging growth company</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</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 emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>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 this registration statement shall become effective on such date as the Securities and Exchange Commission, acting
pursuant to said Section 8(a), may determine.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Red"><B>The information in
this 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 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: 0pt 0; text-align: justify"><FONT STYLE="color: Red"><B>&nbsp;</B></FONT></P>

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  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: Red"><B>PRELIMINARY PROSPECTUS</B></FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="color: Red">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: Red"><B>SUBJECT TO COMPLETION DATED NOVEMBER 12,
    2024</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Up to [&nbsp;&nbsp; ] Shares of Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pre-Funded Warrants to Purchase up to [&nbsp;&nbsp; ] Shares
of Common Stock </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(and shares of Common Stock underlying the Pre-Funded
Warrants)</B></P>

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt; font-variant: small-caps"><B>Reborn
Coffee, Inc.</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">Reborn Coffee, Inc., a Delaware corporation (&ldquo;Reborn,&rdquo;
&ldquo;we,&rdquo; &ldquo;us,&rdquo; &ldquo;our,&rdquo; or the &ldquo;Company&rdquo;) is offering up to [&nbsp;&nbsp; ] shares of common stock at an
assumed offering price of $[&nbsp;&nbsp; ] per share, which is equal to the closing price per share on the Nasdaq Capital Market (&ldquo;Nasdaq&rdquo;)
on [&nbsp;&nbsp; ], 2024 pursuant to 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">We are also offering up to [&nbsp;&nbsp; ] pre-funded warrants
(and the shares issuable from time to time upon exercise of the pre-funded warrants) to those purchasers whose purchase of shares of common
stock in this offering would result in the purchaser, together with its affiliates and certain related parties, beneficially owning more
than 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock following the consummation of this offering in
lieu of the shares of our common stock that would result in ownership in excess of 4.99% (or, at the election of the purchaser, 9.99%).
Each pre-funded warrant will be exercisable for one share of common stock at an exercise price of $0.0001 per share. For each pre-funded
warrant we sell, the number of shares of common stock we are offering will be decreased on a one-for-one basis. The assumed public offering
price for each such pre-funded warrant is $[&nbsp;&nbsp; ] which is equal to the closing price per share of our common stock on Nasdaq on [&nbsp;&nbsp; ], 2024
less the $0.0001 per share exercise price of each such pre-funded warrant. Each pre-funded warrant will be immediately exercisable and
will expire when exercised in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 engaged Dawson James Securities, Inc.,
or the &ldquo;placement agent,&rdquo; to act as our exclusive placement agent in connection with this offering. The placement agent has
agreed to use its reasonable best efforts to arrange for the sale of the securities offered by this prospectus. The placement agent is
not purchasing or selling any of the securities we are offering and the placement agent is not required to arrange the purchase or sale
of any specific number or dollar amount of securities. We have agreed to pay to the placement agent the placement agent fees set forth
in the table below, which assumes that we sell all of the securities offered by this prospectus. There is no arrangement for funds to
be received in escrow, trust, or similar arrangement. There is no minimum number of shares of common stock or pre-funded warrants or minimum
aggregate amount of proceeds that is a condition for this offering to close. We may sell fewer than all of the shares of common stock
and pre-funded warrants offered hereby, which may significantly reduce the amount of proceeds received by us, and investors in this offering
will not receive a refund if we do not sell all of the securities offered hereby. We will bear all costs associated with the offering.
(See &ldquo;Plan of Distribution.&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">Our common stock is listed on Nasdaq under the
symbol &ldquo;REBN.&rdquo; On [&nbsp;&nbsp; ], 2024, the closing price of our common stock as reported on Nasdaq was $[&nbsp;&nbsp; ]. All share and pre-funded
warrant numbers are based on an assumed public offering price of $[&nbsp;&nbsp; ] per share (or $[&nbsp;&nbsp; ] per pre-funded warrant).</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">There is no established public trading market
for the pre-funded warrants, and we do not expect such markets to develop. We do not intend to apply for listing of the pre-funded warrants
on any securities exchange or other nationally recognized trading system. Without an active trading market, the liquidity of the pre-funded
warrants is limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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">The final public offering price for the securities
offered by this prospectus will be determined between us and the investors in this offering at the time of pricing and may be at a discount
to the current market price. Therefore, the assumed public offering price per share of common stock or pre-funded warrant used throughout
this prospectus may not be indicative of the final public offering price for our common stock or pre-funded warrants, as 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; text-align: justify">This offering will terminate on [&nbsp;&nbsp; ], unless we
decide to terminate the offering (which we may do at any time in our discretion) prior to that date. We will have one closing for all
of the securities purchased in this offering. The public offering price per share of common stock (or pre-funded warrant) will be fixed
for the duration of this offering.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are a &ldquo;smaller reporting company&rdquo;
as defined under the federal securities laws and, under applicable Securities and Exchange Commission rules, we have elected to comply
with certain reduced public company reporting and disclosure requirements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Investing in our securities involves a high
degree of risk. See &ldquo;<I>Risk Factors</I>&rdquo; beginning on page 7 of this prospectus to read about factors you should consider
before investing in our securities.</B></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: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Per Share of Common Stock</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Per Pre-Funded Warrant</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 70%">Public offering price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">&nbsp;&nbsp;&nbsp;&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">Placement agent fees <SUP>(1)</SUP></FONT></TD><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: #CCEEFF">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Proceeds to us, before expenses <SUP>(2)</SUP></FONT></TD><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>
  </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%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">We have agreed to (i) pay the placement agent a cash fee up to 8.0% of the aggregate gross proceeds raised in this offering; provided however, that such commissions shall be reduced to 3.5% if and to the extent any gross proceeds are raised from retail investors introduced to the offering by any officer or director of the Company. We have also agreed to reimburse the placement agent for certain expenses and closing costs. (See &ldquo;Plan of Distribution&rdquo; for additional information and a description of the compensation payable to the placement agent.)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Because there is no minimum number of securities or amount of proceeds required as a condition to closing in this offering, the actual public offering amount, placement agent fees, and proceeds to us, if any, are not presently determinable and may be substantially less than the total maximum offering amounts set forth above. (See &ldquo;Plan of Distribution&rdquo; for more information.)</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"><B>Neither the Securities and Exchange Commission
nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of the disclosures
in the prospectus. Any representation to the contrary is a criminal offense.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The delivery of the shares of common stock and
any pre-funded warrants to purchasers in this offering is expected to be made on or about [&nbsp;&nbsp;], 2024.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAWSON JAMES SECURITIES, 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>The date of this prospectus is [&nbsp;&nbsp; ], 2024</B></P>

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

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

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<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>TABLE OF CONTENTS</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 90%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: center; width: 9%"><FONT STYLE="font-size: 10pt"><B>Page</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_001">About This Prospectus</A></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">ii</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_002">Prospectus Summary</A></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_003">The Offering</A></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">6</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_004">Risk Factors</A></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">7</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_005">Special Note Regarding Forward-Looking Statements</A></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">11</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_006">Use of Proceeds</A></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">12</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_007">Market for Common Stock and Dividend Policy</A></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_008">Capitalization</A></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">14</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_009">Security Ownership of Certain Beneficial Owners and Management</A></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">15</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_010">Description of Securities</A></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_011">Plan of Distribution</A></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">19</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_016" STYLE="-sec-extract: exhibit">Management</A></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center">22<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"><A HREF="#a_012">Legal Matters</A></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">29</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_013">Experts</A></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">29</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_014">Incorporation of Certain Information by Reference</A></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">30</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_015">Where You Can Find More Information</A></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">31</FONT></TD></TR>
  </TABLE>
<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"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_001"></A>ABOUT THIS PROSPECTUS</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">Unless the context otherwise requires, the terms &ldquo;Reborn,&rdquo;
&ldquo;Reborn Coffee,&rdquo; &ldquo;the Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us&rdquo; and &ldquo;our&rdquo; refer to Reborn Coffee,
Inc.</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 registration statement on Form S-1 of which
this prospectus forms a part and that we have filed with the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;), includes
exhibits that provide more detail of the matters discussed in this prospectus. You should read this prospectus and the related exhibits
filed with the SEC, together with the additional information described under the heading &ldquo;Where You Can Find More Information.&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">You should rely only on the information contained
in this prospectus and the related exhibits, any prospectus supplement or amendment thereto, or to which we have referred you, before
making your investment decision. Neither we nor any financial advisor engaged by us in connection with this offering, have authorized
anyone to provide you with additional information or information different from that contained in this prospectus. To the extent there
is a conflict between the information contained in this prospectus and any prospectus supplement having a later date, the statement in
the prospectus supplement having the later date modifies or supersedes the earlier 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">You should not assume that the information contained
in this prospectus, any prospectus supplement or amendments thereto, as well as information we have previously filed with the SEC, is
accurate as of any date other than the date on the front cover of the applicable document. Our business, financial condition, results
of operations and prospects may have changed since those dates. This prospectus is an offer to sell only the securities offered hereby,
but only under circumstances and in jurisdictions where it is lawful to do so.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are not offering to sell or seeking offers
to purchase these securities in any jurisdiction where the offer or sale is not permitted. We have not done anything that would permit
this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than
in the United States. Persons outside the jurisdiction of the United States who come into possession of this prospectus are required to
inform themselves about and to observe any restrictions relating to this offering and the distribution of this prospectus applicable to
that jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 required, each time we offer our securities,
we will provide you with, in addition to this prospectus, a prospectus supplement that will contain specific information about the terms
of that offering. We may also use one or more free writing prospectuses to be provided to you that may contain material information relating
to that offering. We may also use a prospectus supplement and any related free writing prospectus to add, update or change any of the
information contained in this prospectus or in documents we have incorporated by reference. This prospectus, together with any applicable
prospectus supplements, any related free writing prospectuses and the documents incorporated by reference into this prospectus, includes
all material information relating to this offering. To the extent that any statement that we make in a prospectus supplement is inconsistent
with statements made in this prospectus, the statements made in this prospectus will be deemed modified or superseded by those made in
a prospectus supplement. Please carefully read both this prospectus and any prospectus supplement together with the additional information
described below under the section entitled &ldquo;Incorporation of Certain Information by Reference&rdquo; before buying any of the securities
offered.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unless otherwise indicated, information contained
in this prospectus or incorporated by reference herein concerning our industry and the markets in which we operate is based on information
from independent industry and research organizations, other third-party sources (including industry publications, surveys and forecasts),
and management estimates. Management estimates are derived from publicly available information released by independent industry analysts
and third-party sources, as well as data from our internal research, and are based on assumptions made by us upon reviewing such data
and our knowledge of such industry and markets, which we believe to be reasonable. Although we believe the data from these third-party
sources is reliable, we have not independently verified any third-party information. In addition, projections, assumptions and estimates
of the future performance of the industry in which we operate and our future performance are necessarily subject to uncertainty and risk
due to a variety of factors, including those described in &ldquo;Risk Factors&rdquo; and &ldquo;Special Note Regarding Forward-Looking
Statements.&rdquo; These and other factors could cause results to differ materially from those expressed in the estimates made by the
independent parties and by us.</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: center"><B><A NAME="a_002"></A>PROSPECTUS SUMMARY</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>This summary highlights information contained
elsewhere in this prospectus and does not contain all of the information that you should consider in making your investment decision.
Before investing in our securities, you should carefully read this entire prospectus, including the information set forth under the headings
&ldquo;Risk Factors&rdquo; as included elsewhere in this prospectus and our financial statements and the related notes and the section
entitled &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations,&rdquo; in our Annual Report
on Form 10-K/A for the year ended December 31, 2023, our Quarterly Report on Form 10-Q for the period ended March 31, 2024, and our Quarterly
Report on Form 10-Q for the period ended June 30, 2024, which are incorporated by reference herein.</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"><B>Overview of Our 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">Reborn is focused on serving high quality, specialty-roasted
coffee at retail locations, kiosks and cafes. We are an innovative company that strives for constant improvement in the coffee experience
through exploration of new technology and premier service, guided by traditional brewing techniques. We believe Reborn differentiates
itself from other coffee roasters through its innovative techniques, including sourcing, washing, roasting, and brewing our coffee beans
with a balance of precision and craft.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Founded in 2015 by Jay Kim, our Chief Executive
Officer, Mr. Kim and his team launched Reborn with the vision of using the finest pure ingredients and pristine water. We currently serve
customers through our retail store locations in California, Korea, and Malaysia.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Reborn continues to elevate the high-end coffee
experience and we received first place traditional still in &ldquo;America&rsquo;s Best Cold Brew&rdquo; competition by Coffee Fest in
2017 in Portland and 2018 in Los Angeles.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The source of coffee is the pinnacle of specialty
coffee. The coffee industry has gone through various phases including the first, second, third, and fourth wave. In the first and second
waves of coffee, the single-origin source and type of the coffee is not necessarily in the forefront during the sourcing process. As such,
much of the coffee may be a blend with various sources and a mix of Robusta and Arabica coffee beans. The third wave of coffee focuses
on a single-origin source and one variety of coffee bean (specifically Arabica beans). Single-origin beans can focus on specific countries
and can also be hyper-focused on specific regions in the third wave of coffee, such as Coban in Guatemala. Arabia beans are considered
premier due to the specific requirements for growth and the high-quality flavor they produce. Arabica coffee is required to be grown in
higher, cooler elevations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Differentiated from other coffee companies, the
Reborn Wash Process is the key to creating the clean flavor of our coffee. Our Wash Process is distinguished by the use of magnetized
water to wash our green coffee beans when they arrive at the Reborn facility, in order to extract impurities and enhance hydration before
the roasting process. Magnetizing water is a process that converts the particles of water, which can naturally appear in various sizes,
into evenly sized particles. As a result of this process, we believe that the water increases its hydration and ability to absorb into
organic material. Our water is created through a water magnetizing device in which water flows through the device and magnetizes the water
on-site immediately prior to use.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">After the wash, we roast our washed-green beans
based on the profile of each single-origin. After the coffee beans are roasted, they are then packaged into various products such as whole
bean coffee, pour over packs, and cold brew packs. Additionally, whole bean inventory is also supplied to the kiosks and cafes. A portion
of the roasted coffee is also allotted to create our award-winning cold brew concentrate. Our cold brew production is created using a
proprietary percolation technique, also using magnetized water at each step to enhance the flavor of the cold brew.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We continually innovate the way we serve coffee.
At our cafes, we serve customers our award-winning coffee through cold brew taps in addition to freshly ground coffee beans in espresso-made
drinks. Other brew methods, such as an in-house pour over and drip coffee, are also available.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The Experience, Reborn</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">We believe that we are the leading pioneers of
the emerging &ldquo;Fourth Wave&rdquo; movement and that our business is redefining specialty coffee as an experience that demands much
more than premium quality. We consider ourselves leaders of the &ldquo;Fourth Wave&rdquo; coffee movement because we are constantly developing
our bean processing methods, researching design concepts, and reinventing new ways of drinking coffee. For instance, the current transition
from the K-Cup trend to the pour over drip concept allowed us to reinvent the way people consume coffee, by merging convenience and quality.
We took the pour over drip concept and made it available and affordable to the public through our Reborn Coffee pour over packs. Our pour
over packs allow our consumers to consume our specialty coffee outdoors and on-the-go.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our success in innovating within the &ldquo;Fourth
Wave&rdquo; coffee movement is measured by our success in business to business (&ldquo;B2B&rdquo;) sales with our introduction of pour
over packs to hotels. With the introduction of our pour over packs to major hotels (including one hotel company with seven locations),
our B2B sales increased as these companies recognized the convenience and functionality our pour over packs serve to their customers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Centered around our core values of service, trust,
and well-being, we deliver an appreciation of coffee as both a science and an art. Developing innovative processes such as washing green
coffee beans with magnetized water, we challenge traditional preparation methods by focusing on the relationship between water chemistry,
health, and flavor profile. Leading research studies, testing brewing equipment, and refining roasting/brewing methods to a specific,
we proactively distinguish exceptional quality from good quality by starting at the foundation and paying attention to the details. Our
mission places an equal emphasis on humanizing the coffee experience, delivering a fresh take on &ldquo;farm-to-table&rdquo; by sourcing
internationally. In this way, we create opportunities to develop transparency by paying homage to origin stories and spark new conversations
by building cross-cultural communities united by a passion for the finest coffee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Through a broad product offering, Reborn provides
customers with a wide variety of beverages and coffee options. As a result, we believe we can capture share of any experience where customers
seek to consume great beverages whether in our inviting store atmospheres which are designed for comfort, or on the go through our pour
over packs, or at home with our whole bean ground coffee bags. We believe that the retail coffee market in the United States is large
and growing. According to IBIS, in 2023, the retail market for coffee in the United States was $72.1 billion. This is expected to grow
due to a shift in consumer preferences to premium coffee, including specialized blends, espresso-based beverages, and cold brew options.
Reborn aims to capture a growing portion of the market as we expand and increase consumer awareness of our brand.</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"><B>Branding</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Reborn Coffee focuses
on two key features in our branding, including &ldquo;Introducing the Fourth Wave&rdquo; and &ldquo;America&rsquo;s Best Cold Brew.&rdquo;
These phrases encapsulate the quality of the Reborn Process of sourcing, washing, roasting, and brewing coffee and the quality of the
product that we create.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The Reborn brand is essential
to our marketing strategy, as it allows us to stand out compared to our competitors. The products aim to make customers feel &ldquo;reborn&rdquo;
after drinking a cup of coffee.</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"><B>Our Menu and Products</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">We purchase and roast
high-quality coffees that we sell, along with handcrafted coffee, tea and other beverages and a variety of high-quality food items. We
believe in offering customers the same great taste and quality whether served in store or on the go. We also partner with third-party
importers and exporters to purchase and import our green coffee beans. Through these relationships, we source high-quality coffee beans
from across the globe, including Mexico, Ethiopia, Colombia, Guatemala, Brazil, and Honduras.</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"><B>Franchise Operations</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">In January 2021, we formed
Reborn Coffee Franchise LLC in the State of California with the intention of franchising Reborn Coffee retail stores and kiosks. We expect
to begin franchise sales in 2025. We plan to charge future franchisees a non-refundable franchise fee and certain marketing and royalty
fees based on gross sales, however we presently have no contractual commitments or other agreements to do so. We believe that our team&rsquo;s
prior experience building a large, global foodservice business will allow us to rapidly scale our future franchise effort. In addition,
we have formed a franchise council consisting of a team of franchise experts to advise us. We plan to eventually expand beyond California
to additional states to create a national and global presence.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Today, we sell a variety
of our coffee and tea products through the enterprise, or commercial, channel, which we refer to as &ldquo;B2B,&rdquo; as well as direct-to-consumer
via our website. We expect to increase our channel presence by increasing the availability of Reborn Coffee in businesses and enterprises,
and expand upon the partnerships we have in place with hotel operators to increase the use and brand awareness in hospitality. We also
expect to grow our online sales through new partnerships with third-party retailers. Our products are available in various form factors,
such as whole bean roasted coffee bags, single-serve drip bags, and our Pour Over Packs. We are exploring partnerships with grocery operators
and foodservice providers to expand the Reborn Coffee brand.</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"><B>Experienced Leadership
Team</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Our relentless commitment
to excellence is driven by our passionate management team under the leadership of our Founder and Chief Executive Officer, Jay Kim. Mr.
Kim launched Reborn with the vision to provide the best coffee using the purest ingredients. He is focused on the expansion of Reborn
and has surrounded himself with leaders that have direct experience in beverage and retail. Stephan Kim, our Chief Financial Officer,
has 20 years of experience in public accounting and consulting. Other members of our executive leadership team bring high growth, franchise,
and sector expertise.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">We also believe in mentoring
the developing the next generation of premium coffee baristas. Through our in-depth training, we aim to train dedicated employees who
understand the science and art behind every cup of coffee. We also expect to form a training school specializing in creating passionate
baristas and coffee connoisseurs, by educating our students about coffee processes and preparation methods. The efforts for the training
school are underway and we expect to launch the program in 2025.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Our customers are loyal
to our brand due to our intense focus on premium coffee and customer service. Community engagement is another essential element of our
in-person marketing strategy. We host on-site engagements, such as event sponsorships, and engage with local Chambers of Commerce. We
previously worked with Lululemon to host yoga sessions outside of our retail locations, creatively engaging the community while simultaneously
promoting Reborn as an active lifestyle. We have also hosted pop-up locations on the Facebook campus, further expanding our outreach and
introducing our brand name to different communities. We further engage with the community by organizing our own latte art competitions,
in which baristas can compete for prizes and customers in the audience can witness our competitive passion.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white"><I>Digital
Channels</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">We focus on many digital
channels in our marketing strategy. Social media is an important leg that creates engagement and education of the Reborn brand. Customers
primarily engage the brand on Instagram, where we host giveaways, share new store openings, and promote seasonal menus. Through our unique,
modern aesthetic and intense focus on high-quality coffee, we are able to share the quality and essence of Reborn on display inside of
our retail locations with existing and future customers on social media platforms.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">For both the in-store
caf&eacute; channel and the e-commerce channel, SMS &amp; email marketing are used for reengagement and communication of new products
and offerings.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Digital advertising channels
are also used, primarily to engage the online market audience. Google and Facebook are the primary paid ad channels that we currently
utilize. Yelp advertising is also used to engage local customers and tourists who visit specific areas where our retail locations are
located.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>
</DIV>
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<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; text-indent: 0.25in; background-color: white"><I>In-Person
Marketing Engagement</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Engaging customers in-store
with a marketing plan is essential for customer retention and new customer generation. Our customer loyalty program provides free drinks
for every ten drinks purchased. Additionally, store customers may participate in promotional deals, especially during the holidays and
new item releases, to try new innovative items created in-house. We also offer coffee samples of our Pour Over Packs as well as new beans
to our retail location customers. The distribution of coffee samples has expanded customers&rsquo; knowledge of our products and led to
increased whole bean sales.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Our locations are located
in heavily trafficked areas as well as popular malls. As such, the potential for marketing and branding is very high in these locations.
Signage and promotional deals with giveaways are essential to attracting new customers.</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>Growth Strategies</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; text-indent: 0.25in"><I>Corporate and Franchise
Expansion</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">We also plan to expand across the Unites States
with company operated locations and franchise locations. We aim to accelerate our growth through our franchise program. We plan to continue
to innovate in the coffee industry by making the industry more personal to the consumers, prospective franchisees, and employees. We plan
to achieve our goal through the continued innovation in our products, sourcing directly from farms, and giving customers choices in how
their coffee is served to them. As we expand, we hope to show the world that expanding in volume and size does not diminish the quality
and personal element that is instilled in the coffee industry.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have started to scale our logistics and supply
chain to provide support for our rapid growth, including for our future franchisees. We have increased roasting capacity and our paper
goods supplies, including an emphasis on eco-friendly products.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>B2B Strategy</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We believe our products are unique given their
potential to engage with business partners for large wholesale orders. We have built strong relationships with hotel management companies
within California and out-of-state. We currently work with several hotels, providing our Pour Over Packs and cold brew packs to cater
to their customer needs. We plan to continue growing our B2B marketing and sales strategy through active outreach and advertising to potential
partners. We believe that access to large-scale distribution channels such as hotels increases consumer awareness of our brand while providing
us access to large enterprise customers. Gift giving comprises a large percentage of our winter B2B sales. During the holidays, our B2B
marketing strategy focuses on targeting companies, and specific teams within companies, that are seeking to provide end of the year gifts
to their clients and customers. We provide customized gift sets to each customer&rsquo;s needs. Word-of-mouth marketing has grown our
B2B holiday gift giving accounts greatly, forging opportunities to have worked with companies like Google to provide gift sets for their
clients. We plan to expand not only by growing our retail location footprint, but also through the development of more hotel partnerships,
expansion into grocery stores and markets, and expansion of our e-commerce and wholesale.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We believe the grocery market is another major channel through which
we hope to access in the future. Through both bulk sales of roasted beans and in-store kiosks, as well sales of pre-packaged products,
we may be able to access customers who purchase both in volume and for those customers looking for a handcrafted beverage during their
in-store shopping experience. We are exploring discussions with a variety of retailers and expect to access these additional sales channels
in 2025.</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>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">We are subject to various legal proceedings from
time to time as part of its business. We are not presently a party to any legal proceedings that, if determined adversely to us, we believe
would individually or in the aggregate have a material adverse effect on our business, results of operations, financial condition, or
cash flows. However, legal proceedings are inherently uncertain. As a result, the outcome of a particular matter or a combination of matters
may be material to our results of operations for a particular period, depending upon the size of the loss or our income for that particular
period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Employees and Human Capital</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 of the date of this prospectus, we had 19 full-time
employees and 89 part-time employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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"><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"><FONT STYLE="background-color: white">We have
a production and distribution center at our headquarters that we use to process and roast coffee for wholesale and retail distribution
at 580 N. Berry Street, Brea, California 92821. </FONT>We consider our current office space adequate for our current operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the date of this prospectus, we have 12
retail coffee locations:</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%">
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    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Brea, California;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">La Crescenta, California;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Corona Del Mar, California;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Laguna Woods, California;</FONT></TD></TR>
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    <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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Manhattan Beach, California;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Huntington Beach, California;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Riverside, California;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Irvine, California;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Diamond Bar, California;</FONT></TD></TR>
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    <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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Anaheim, California;</FONT></TD></TR>
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  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Daejeon, Korea; and</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Kuala Lumpur, Malaysia.</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>Corporate Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Our principal executive
offices are located at 580 N. Berry Street, Brea, California 92821. Our telephone number is (714) 784-6369. Our website address is </FONT>www.reborncoffee.com<FONT STYLE="font-size: 10pt">.
Any information contained on, or that can be accessed through, our website is not incorporated by reference into, nor is it in any way
part of this prospectus and should not be relied upon in connection with making any decision with respect to an investment in our securities.
</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Available Information </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 are required to file annual, quarterly, and
current reports, proxy statements, and other information with the SEC. You may obtain any of the documents filed by us with the SEC, at
no cost from the SEC&rsquo;s website at www.sec.gov.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Implications of Being a Smaller Reporting 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">To the extent that we continue to qualify as a
&ldquo;smaller reporting company,&rdquo; as such term is defined in Rule 12b-2 under the Exchange Act, we will continue to be permitted
to make certain reduced disclosures in our periodic reports and other documents that we file with the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>Initial Public Offering </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">In August 2022, we consummated our initial public
offering (the &ldquo;IPO&rdquo;) of 1,440,000 shares of our common stock at a public offering price of $5.00 per share, generating gross
proceeds of $7,200,000. Net proceeds from the IPO were approximately $6,200,000 after deducting underwriting discounts and commissions
and other offering expenses of approximately $998,000. On August 12, 2022, our stock began trading on the Nasdaq Capital Market under
the symbol &ldquo;REBN.&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"><B>Reverse Stock Split</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 January 12, 2024, we filed a Certificate of
Amendment to our Certificate of Incorporation to effect a reverse stock split of our issued common stock in the ratio of 1-for-8 (the
&ldquo;Reverse Stock Split&rdquo;). Our common stock began trading on the Nasdaq Capital Market on a Reverse Stock Split-adjusted basis
at the market open on Monday, January 22, 2024. Unless otherwise noted, all share and per share information relating to our common stock
in this prospectus has been adjusted to reflect the Reverse Stock Split.</P>

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

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<DIV STYLE="padding-right: 5pt; padding-left: 5pt; border: Black 1.5pt solid">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_003"></A><B>THE OFFERING</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 21%"><FONT STYLE="font-size: 10pt">Common Stock Offered </FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify; width: 3%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 76%"><FONT STYLE="font-size: 10pt">Up to [&nbsp;&nbsp; ] shares of common stock based on an assumed public offering price of $[&nbsp;&nbsp; ] per share of common stock, which is the closing price of our common stock on Nasdaq on [&nbsp;&nbsp; ], 2024.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Shares of Common Stock Outstanding Prior to this Offering</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">3,672,564 shares</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Shares of Common Stock Outstanding After this Offering</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">[&nbsp;&nbsp; ] shares (assuming we sell only shares of common stock and no pre-funded warrants and assuming no exercise of such pre-funded warrants)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Pre-Funded Warrants Offered</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">We are also offering to certain purchasers whose purchase of shares of common stock in this offering would otherwise result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock immediately following the consummation of this offering, the opportunity to purchase, if such purchasers so choose, pre-funded warrants to purchase shares of common stock, in lieu of shares of common stock that would otherwise result in any such purchaser&rsquo;s beneficial ownership exceeding 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock. Each pre-funded warrant will be exercisable for one share of our common stock. The purchase price of each pre-funded warrant will equal the price at which the shares of common stock are being sold to the public in this offering, the exercise price of each pre-funded warrant of $0.0001 per share. The pre-funded warrants will be exercisable immediately and may be exercised at any time until all of the pre-funded warrants are exercised in full. This offering also relates to the shares of common stock issuable upon exercise of any pre-funded warrants sold in this offering. For each pre-funded warrant we sell, the number of shares of common stock we are offering will be decreased on a one-for-one basis. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Use of Proceeds</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">We intend to use the proceeds from this offering for working capital, strategic and general corporate purposes. (See &ldquo;Use of Proceeds.&rdquo;).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Lock-Up Agreements</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">We and our directors, officers, and certain of our principal shareholders have agreed not to offer for sale, issue, sell, contract to sell, pledge, or otherwise dispose of any of our shares of common stock or securities convertible into shares of common stock for a period of 180 days after the closing of the offering. (See &ldquo;Plan of Distribution.&rdquo;)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Risk Factors</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">An investment in our securities is highly speculative and involves substantial risk. Please carefully consider the risks described under the heading &ldquo;Risk Factors&rdquo; and other information included and incorporated by reference in this prospectus for a discussion of factors to consider before deciding to invest in the securities offered hereby. Additional risks and uncertainties not presently known to us or that we currently deem to be immaterial may also impair our business and operations.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Transfer Agent and Registrar</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The registrar and transfer agent for our common stock is Securities Transfer Corporation. The transfer agent&rsquo;s address is 15500 Roosevelt Blvd, Suite 104, Clearwater, Florida 33760 and the telephone number is (469) 633-0101.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Nasdaq Symbol and Trading </FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Our shares of common stock are listed on the Nasdaq Capital Market under the symbol &ldquo;REBN.&rdquo; There is no established trading market for the pre-funded warrants, and we do not expect a trading market to develop. We do not intend to list the pre-funded warrants on any securities exchange or other trading market. Without a trading market, the liquidity of the pre-funded warrants will be extremely limited.</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">The outstanding share information in the table
above is based on 3,672,564 shares of our common stock outstanding as of October 31, 2024 and assumes no sale of any pre-funded warrants
and no exercise of such pre-funded warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: center"><B><A NAME="a_004"></A>RISK FACTORS</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>An investment in our securities involves a
high degree of risk. Before deciding whether to invest in our securities, you should carefully consider the risks described below and
those discussed under the Section captioned &ldquo;Risk Factors&rdquo; contained in our Annual Report on Form 10-K/A for the year ended
December 31, 2023, as revised or supplemented by our subsequent quarterly reports on Form 10-Q or our current reports on Form 8-K, each
as filed with the SEC and which are incorporated by reference in this prospectus, together with other information in this prospectus,
the information and documents incorporated by reference herein, and in any free writing prospectus that we have authorized for use in
connection with this offering. If any of these risks actually occurs, our business, financial condition, results of operations or cash
flow could be seriously harmed. This could cause the trading price of our common stock to decline, resulting in a loss of all or part
of your investment. Please also read carefully the section below entitled &ldquo;Special Note Regarding Forward-Looking Statements.&rdquo;
</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"><B>Risks Related to This Offering </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><I>An investment in our securities is speculative
and could result in a loss of your entire investment. </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">An investment in our securities is speculative
and involves a high degree of risk. There is no assurance that investors will obtain any return on their investment. You should not purchase
the securities if you cannot afford the loss of your entire investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>This is a best efforts offering, no minimum
amount of securities is required to be sold, and we may not raise the amount of capital we believe is required for our business plans,
including our near-term business plans. </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 placement agent has agreed to use its reasonable
best efforts to solicit offers to purchase the securities in this offering. The placement agent has no obligation to buy any of the securities
from us or to arrange for the purchase or sale of any specific number or dollar amount of the securities. There is no required minimum
number of securities that must be sold as a condition to completion of this offering. Because there is no minimum offering amount required
as a condition to the closing of this offering, the actual offering amount, placement agent fees, and proceeds to us are not presently
determinable and may be substantially less than the maximum amounts set forth above. We may sell fewer than all of the securities offered
hereby, which may significantly reduce the amount of proceeds received by us, and investors in this offering will not receive a refund
in the event that we do not sell an amount of securities sufficient to support our continued operations, including our near-term continued
operations. Thus, we may not raise the amount of capital we believe is required for our operations in the short-term and may need to raise
additional funds, which may not be available or available on terms acceptable to 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"><B><I>There is no public market for the pre-funded
warrants being offered by us in this offering. </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There is no established public trading market
for the pre-funded warrants and we do not expect a market to develop. In addition, we do not intend to apply to list the pre-funded warrants
on any national securities exchange or other nationally recognized trading system. Without an active market, the liquidity of the pre-funded
warrants is limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>The pre-funded warrants are speculative
in nature. </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 pre-funded warrants offered hereby do not
confer any rights of share of common stock ownership on their holders, such as voting rights or the right to receive dividends, but rather
merely represent the right to acquire shares of common stock at a fixed price. Specifically, commencing on the date of issuance, holders
of the pre-funded warrants may acquire the shares of common stock issuable upon exercise of such pre-funded warrants at an exercise price
of $0.0001 per share of common stock. Moreover, following this offering, the market value of the pre-funded warrants is uncertain and
there can be no assurance that the market value of the pre-funded warrants will equal or exceed their respective public offering prices.
There can be no assurance that the market price of the shares of common stock will ever equal or exceed the exercise price of the pre-funded
warrants, and consequently, whether it will ever be profitable for holders of the pre-funded warrants to exercise the pre-funded warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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"><B><I>Holders of the pre-funded warrants offered
hereby will have no rights as common stockholders with respect to the shares our common stock underlying the pre-funded warrants until
such holders exercise such pre-funded warrants and acquire our common stock, except as otherwise provided in the pre-funded warrants.
</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">Until holders of the pre-funded warrants acquire
shares of our common stock upon exercise thereof, such holders will have no rights with respect to the shares of our common stock underlying
such pre-funded warrants, except to the extent that holders of such pre-funded warrants will have certain rights to participate in distributions
or dividends paid on our common stock as set forth in the pre-funded warrants. Upon exercise of the pre-funded warrants, the holders will
be entitled to exercise the rights of a common stockholder only as to matters for which the record date occurs after the exercise date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Provisions of the pre-funded warrants offered
by this prospectus could discourage an acquisition of us by a third party.</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">Certain provisions of the pre-funded warrants
offered by this prospectus could make it more difficult or expensive for a third party to acquire us. Such pre-funded warrants prohibit
us from engaging in certain transactions constituting &ldquo;fundamental transactions&rdquo; unless, among other things, the surviving
entity assumes our obligations under the pre-funded warrants. This and other provisions of the pre-funded warrants offered by this prospectus
could prevent or deter a third party from acquiring us even where the acquisition could be beneficial to you.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>We have broad discretion in the use of the
net proceeds from this offering and may not use them effectively. </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our management will have broad discretion in the
application of the net proceeds, including for any of the purposes described in the section of this prospectus. (See &ldquo;Use of Proceeds.&rdquo;)
You will be relying on the judgment of our management with regard to the use of these net proceeds, and you will not have the opportunity,
as part of your investment decision, to assess whether the net proceeds are being used appropriately. The failure by our management to
apply these funds effectively could result in financial losses that could have a material adverse effect on our business, cause the price
of our securities to decline and delay the development of our product candidates. Pending the application of these funds, we may invest
the net proceeds from this offering in a manner that does not produce income or that loses value.</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>Risks Related to our 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"><B><I>It is not possible to predict the actual
number of shares we will sell under the SEPA to YA II PN, or the actual gross proceeds resulting from those sales. </I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are party to a Standby Equity Purchase Agreement
with YA II PN, LTD (&ldquo;YA II PN&rdquo;) dated February 12, 2024 (the &ldquo;SEPA&rdquo;). Pursuant to the SEPA, we may sell to YA
II PN up to $5,000,000 of shares of common stock (the &ldquo;Advance Shares&rdquo;), from time to time during the term of the SEPA. Subject
to certain limitations in the SEPA and compliance with applicable law, we have the discretion to deliver notices to YA II PN at any time
throughout the term of the SEPA. The actual number of shares of common stock are sold to YA II PN may depend based on a number of factors,
including the market price of our common stock during the sales period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because the price per share of each share sold
to YA II PN will fluctuate during the sales period, it is not currently possible to predict the number of shares that will be sold or
the actual gross proceeds to be raised in connection with those 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">In addition, any issuance and sale by us under
the SEPA of a substantial amount of shares of common stock could cause additional substantial 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"><B><I>We may require additional financing to sustain
our operations and without it we may not be able to continue operations.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to the terms and conditions of the SEPA,
we may, at our discretion, direct YA II PN to purchase up to $5.0 million of shares of our common stock under the SEPA from time-to-time.
The purchase price per share for the shares of common stock that we may elect to sell to YA II PN under the SEPA will fluctuate based
on the market prices of our common stock for each purchase made pursuant to the SEPA, if any. Accordingly, it is not currently possible
to predict the number of shares that will be sold to YA II PN, the actual purchase price per share to be paid by YA II PN for those shares,
if any, or the actual gross proceeds to be raised in connection with those 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"></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 extent to which we rely on YA II PN as a source
of funding will depend on a number of factors including, the prevailing market price of our common stock and the extent to which we are
able to secure working and other capital from other sources. If obtaining sufficient funding from YA II PN were to prove unavailable or
prohibitively dilutive, we may need to secure another source of funding in order to satisfy our working and other capital needs. Even
if we were to sell to YA II PN all of the shares of common stock available for sale to YA II PN under the SEPA, we may still need additional
capital to fully implement our business, operating and development plans. Should the financing we require to sustain our working capital
needs be unavailable or prohibitively expensive when we require it, the consequences may be a material adverse effect on our business,
operating results, financial condition and prospects.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Future sales and issuances of our common
stock or other securities might result in significant dilution and could cause the price of our common stock to decline.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To raise capital, we may sell common stock, convertible
securities or other equity securities in one or more transactions, at prices and in a manner we determine from time to time. We may sell
shares or other securities in another offering at a price per share that is less than the price per share paid by investors in this offering,
and investors purchasing shares or other securities in the future could have rights superior to existing stockholders. The price per share
at which we sell additional shares of our common stock, or securities convertible or exchangeable into common stock, in future transactions
may be higher or lower than the price per share paid by investors in this offering.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We cannot predict what effect, if any, sales of
shares of our common stock in the public market or the availability of shares for sale will have on the market price of our common stock.
However, future sales of substantial amounts of our common stock in the public market, including shares issued upon exercise of outstanding
options, warrants and convertible preferred shares, or the perception that such sales may occur, could adversely affect the market price
of our common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The terms of our indebtedness, including
the covenants and the dates on which principal and interest payments on our indebtedness are due, increases the risk that we will be unable
to continue as a going concern.</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">As of December 31, 2023, and June 30, 2024 we
had $1.48 million, and $1.57 million, respectively, in outstanding short-term borrowing. In addition, on May 20, 2024, we issued a note
which has a principal balance of $800,000 and, beginning on August 15, 2024, it required monthly principal and interest payments in excess
of $266,667. On August 29, 2024, we issued another note which has a principal balance of $500,000. The terms of our indebtedness, including
the covenants and the dates on which principal and interest payments on our indebtedness are due, increases the risk that we will be unable
to continue as a going concern. To continue as a going concern over the next 12 months, we must make payments on our debt as they come
due and comply with the covenants in the agreements governing our indebtedness or, if we fail to do so, to (i) negotiate and obtain waivers
of or forbearances with respect to any defaults that occur with respect to our indebtedness, (ii) amend, replace, refinance, or restructure
any or all of the agreements governing our indebtedness, and/or (iii) otherwise secure additional capital. However, we cannot provide
any assurances that we will be successful in accomplishing any of these plans.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Due to the implementation of the Reverse
Stock Split, the liquidity of our common stock may be adversely effected.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our common stock began trading on Nasdaq on a
Reverse Stock Split-adjusted basis beginning on January 22, 2024. The liquidity of the shares of our common stock may be affected adversely
by any reverse stock split given the reduced number of shares of our common stock that are outstanding following the Reverse Stock Split,
especially if the market price of our common stock does not increase as a result of the Reverse Stock Split. Following the Reverse Stock
Split, the resulting market price of our common stock may not attract new investors and may not satisfy the investing requirements of
those investors. Although we believe that a higher market price of our common stock may help generate greater or broader investor interest,
there can be no assurance that the Reverse Stock Split resulted in a share price that will attract new investors, including institutional
investors. In addition, there can be no assurance that the market price of our common stock will satisfy the investing requirements of
those investors. As a result, the trading liquidity of our common stock may not necessarily improve.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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"><B><I>If we are unable to satisfy the applicable
continued listing requirements of Nasdaq, our common stock could be delisted.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 21, 2024, we received a written notice
(the &ldquo;Notice&rdquo;) from the Listing Qualifications Department of Nasdaq indicating that Nasdaq had determined that we had failed
to comply with certain Nasdaq Listing Rules <FONT STYLE="background-color: white">because we had not yet filed our Quarterly Report on
Form 10-Q for the fiscal quarter ended March 31, 2024</FONT>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">As previously
announced, on May 15, 2024, we were required to dismiss BF Borgers CPA PC as our independent registered public accounting firm. We had
to appoint a new independent registered public accounting firm in order to complete and file the Form 10-Q, and on May 14, 2024, the Audit
Committee approved the engagement of BCRG Group (&ldquo;BCRG&rdquo;) as our new independent registered public accounting firm. Due to
the timing of the appointment of BCRG, we were unable without unreasonable effort and expense to complete the review of our financial
statements for the quarter ended March 31, 2024 before the required filing date for the Quarterly Report on Form 10-Q.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">A Nasdaq
Hearings Panel (the &ldquo;Panel&rdquo;) had previously placed us on a Discretionary Panel Monitor for a period of one year, or until
May 16, 2025, after we regained compliance with previous Nasdaq listing deficiencies, which would require Nasdaq to issue a Delist Determination
Letter in the event that we failed to maintain compliance with any continued listing requirement (the &ldquo;Panel Monitor&rdquo;). Due
to the Panel Monitor, we requested an appeal of determination to the Panel, and request a stay of the suspension pending a hearing. On
July 19, 2024, we filed our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although we anticipate complying with Nasdaq&rsquo;s
Listing Rules going forward, there can be no assurance that we will be able to meet continued listing requirements in the future. In determining
whether to afford a company a cure period prior to commencing suspension or delisting procedures, Nasdaq analyzes all relevant facts including
any past deficiencies, and thus our prior deficiencies could be used as a factor by Nasdaq in any future decision to delist our securities
from trading on its exchange.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">If our common
stock is delisted, it could reduce the price of our common stock and the levels of liquidity available to our stockholders. In addition,
the delisting of our common stock could materially adversely affect our access to the capital markets and any limitation on liquidity
or reduction in the price of our common stock could materially adversely affect our ability to raise capital. Delisting from Nasdaq could
also result in other negative consequences, including the potential loss of confidence by suppliers, customers and employees, the loss
of institutional investor interest, and fewer business development opportunities.</FONT></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>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_005"></A>SPECIAL NOTE REGARDING FORWARD-LOOKING 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: justify; background-color: white">This prospectus contains
various forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which
represent our expectations or beliefs concerning future events that are based on our management&rsquo;s beliefs and assumptions and on
information currently available to management, and which statements involve substantial risk and uncertainties. All statements contained
in this prospectus other than statements of historical fact, including statements regarding our future operating results and financial
position, our business strategy and plans, market growth and trends, and objectives for future operations are forward-looking statements.
Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can
identify forward-looking statements because they contain words such as &ldquo;may,&rdquo; &ldquo;should,&rdquo; &ldquo;expects,&rdquo;
&ldquo;plans,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;could,&rdquo; &ldquo;intends,&rdquo; &ldquo;target,&rdquo; &ldquo;projects,&rdquo;
&ldquo;contemplates,&rdquo; &ldquo;believes,&rdquo; &ldquo;estimates,&rdquo; &ldquo;predicts,&rdquo; &ldquo;potential,&rdquo; or &ldquo;continue&rdquo;
or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions.</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">These risks and uncertainties
include, among other things:</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">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our ability to continue as a going concern;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our reliance on third party vendors;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our dependence on our executive officers;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our financial performance guidance;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">material weaknesses in our internal control over financial reporting;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">regulatory developments in the United States and foreign countries;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the impact of laws, regulations, accounting standards, regulatory requirements, judicial decisions and guidance issued by authoritative bodies;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our estimates regarding expenses, future revenue and cash flow, capital requirements and needs for additional financing;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our financial performance; and</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the ability to recognize the anticipated benefits of our business combination and/or divestitures.</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">You should not rely upon forward-looking statements
as predictions of future events. We have based the forward-looking statements contained in this prospectus primarily on our current expectations
and projections about future events and trends that we believe may affect our business, financial condition, results of operations, and
prospects. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, and other factors
described elsewhere in this prospectus and in the section titled &ldquo;Risk Factors&rdquo; and elsewhere in our Annual Report on Form
10-K/A for the year ended December 31, 2023.</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: center"><B><A NAME="a_006"></A>USE OF PROCEEDS </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">We estimate that the net proceeds from this offering
will be approximately $[&nbsp;&nbsp; ], assuming a public offering price per share of common stock of $[&nbsp;&nbsp; ], the closing price of our common stock
on Nasdaq on [&nbsp;&nbsp; ], 2024, after deducting the placement agent fees and estimated offering expenses payable by us, assuming the sale of all
of the securities offered under this prospectus and no sale of any fixed combinations of pre-funded warrants offered hereunder. Because
this is a best efforts offering and there is no minimum offering amount required as a condition to the closing of this offering, the actual
offering amount, the placement agent&rsquo;s fees, and net proceeds to us are not presently determinable and may be substantially less
than the maximum amounts set forth on the cover page 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: 0pt 0; text-align: justify">We intend to use any proceeds from this offering
for working capital, strategic and general corporate purposes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The expected use of net proceeds from this offering
represents management&rsquo;s estimates based upon current business and economic conditions. The amounts and timing of our actual use
of net proceeds will vary depending on numerous factors. As a result, management will have broad discretion in the application of the
net proceeds, and investors will be relying on our judgment regarding the application of the net proceeds of this offering. Although we
do not contemplate changes in the proposed use of proceeds, to the extent we find that adjustment is required for other uses by reason
of existing business conditions, the use of proceeds may be adjusted. We reserve the right to use the net proceeds we receive in the offering
in any manner we consider to be appropriate, which could differ materially from those outlined above as a result of several factors including
those set forth under &ldquo;Risk Factors&rdquo; and 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">We will incur all costs associated with this prospectus
and the registration statement of which it is a part.</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>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_007"></A>MARKET FOR COMMON STOCK AND DIVIDEND POLICY</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"><B><I>Market Information and Number of Stockholders</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our common stock is listed on the Nasdaq Capital
Market under the symbol &ldquo;REBN.&rdquo; The last reported closing price for our common stock on Nasdaq on [&nbsp;&nbsp; ], 2024 was $[&nbsp;&nbsp; ] per share.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of October 31, 2024, there were 3,672,564 of
our shares of common stock issued and outstanding held by approximately 198 stockholders of record. The number of record holders was determined
from the records of our transfer agent and does not include beneficial owners of shares of common stock whose shares are held in the names
of various security brokers, dealers, and registered clearing agencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>Dividend Policy</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 never declared or paid any cash dividends
on our capital stock. We currently intend to retain all available funds and future earnings, if any, for the operation and expansion of
our business and do not anticipate declaring or paying any dividends in the foreseeable future. Any future determination related to our
dividend policy will be made at the discretion of our board of directors after considering our financial condition, results of operations,
capital requirements, business prospects and other factors the board of directors deems relevant, and subject to the restrictions contained
in any financing instruments. Our ability to declare dividends may also be limited by restrictive covenants pursuant to any other future
debt financing agreements.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_008"></A>CAPITALIZATION</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">The following table sets forth our actual cash
and cash equivalents and our capitalization as of June 30, 2024:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">on an actual basis;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">on an as adjusted basis to
give effect to the events above and the issuance and sale of [&nbsp;&nbsp; ] shares of our common stock at an assumed purchase price
of $[&nbsp;&nbsp; ] and assumes no issuance of the pre-funded warrants.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You should read this information in conjunction
with &ldquo;<I>Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</I>&rdquo; and our consolidated
financial statements and related notes for the three-month period ended June 30, 2024, included in our Quarterly Report on Form 10-Q for
the three-month period ended June 30, 2024, which is incorporated by reference herein.</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: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As of June 30, 2024 <BR>
(unaudited)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-style: italic; border-bottom: Black 1.5pt solid">(in thousands)</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Actual</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As adjusted</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 76%; text-align: left; text-indent: -9pt; padding-left: 9.25pt">Cash and Cash Equivalents:</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">617,051</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9.25pt">Total Current Liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,711,482</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: #CCEEFF">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9.25pt">Total Long-Term Liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,274,836</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-indent: -9pt; padding-left: 9.25pt">&nbsp;</TD><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: #CCEEFF">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9.25pt">Stockholders&rsquo; Equity (Deficit):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-indent: -9pt; padding-left: 18.25pt">Common Stock - $0.0001 par value per share; 40,000,000 authorized shares; 3,235,657 shares issued and outstanding at June 30, 2024</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">324</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: #CCEEFF">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 18.25pt">Additional paid in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,603,006</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 18.25pt">Accumulated deficit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(19,064,080</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">([&nbsp;&nbsp; ]</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 18.25pt">Accumulated other comprehensive income (loss)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">3,438</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9.25pt">Total stockholders&rsquo; equity</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">2,542,688</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>




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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The as adjusted information discussed above is
illustrative only.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 our common stock
reflected in the discussion and table above is based on 3,235,657 shares outstanding as of June 30, 2024.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_009"></A>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
AND 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; background-color: white">The following table sets
forth certain information regarding the ownership of our common stock as of October 31, 2024 (the &ldquo;Determination Date&rdquo;) by:
(i) each current director of our company; (ii) each of our Named Executive Officers (&ldquo;NEOs&rdquo;); (iii) all current executive
officers and directors of our company as a group; and (iv) all those known by us to be beneficial owners of more than five percent of
our common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Beneficial ownership
and percentage ownership are determined in accordance with the rules of the SEC. Under these rules, beneficial ownership generally includes
any shares as to which the individual or entity has sole or shared voting power or investment power and includes any shares that an individual
or entity has the right to acquire beneficial ownership of within 60 days of the Determination Date, through the exercise of any option,
warrant or similar right (such instruments being deemed to be &ldquo;presently exercisable&rdquo;). In computing the number of shares
beneficially owned by a person and the percentage ownership of that person, shares of our common stock that could be issued upon the exercise
of presently exercisable options and warrants are considered to be outstanding. These shares, however, are not considered outstanding
as of the Determination Date when computing the percentage ownership of each other person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">To our knowledge, except
as indicated in the footnotes to the following table, and subject to state community property laws where applicable, all beneficial owners
named in the following table have sole voting and investment power with respect to all shares shown as beneficially owned by them. Percentage
of ownership is based on 3,672,564 shares of common stock outstanding as of the Determination Date. Unless otherwise indicated, the business
address of each person in the table below is c/o Reborn Coffee Inc., 580 N. Berry St. Brea, California 92821. To the best of our knowledge,
no shares identified below are subject to a pledge.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&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; font-style: italic">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center">Number of Shares</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center">Percentage of Shares</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-style: italic; border-bottom: Black 1.5pt solid">Name of Beneficial Owner</TD><TD STYLE="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1.5pt solid">Beneficially Owned</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1.5pt solid">Beneficially Owned</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-style: italic">&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">
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">Directors and Named Executive Officers</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: #CCEEFF">
    <TD STYLE="width: 76%; text-align: left">Jay Kim, Chief Executive Officer and Director</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">410,834</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">11.2</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Stephan Kim, Chief Financial Officer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">87,190</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.4</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left">Farooq M. Arjomand, Chairman of the Board</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">456,082</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.4</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Dennis R. Egidi, Director</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">155,350</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.2</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left">Sehan Kim, Director</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47,786</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.3</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Andy Nasim, Director</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">Jennifer Tan, Director</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">All directors, directors nominees and executive officers as a group (seven persons):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,157,242</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31.5</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">5% or Greater Stockholders</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Scott Lee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">444,445</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.1</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">From time to time, the number of our shares held
in &ldquo;street name&rdquo; accounts of various securities dealers for the benefit of their clients or in centralized securities depositories
may exceed 5% of the total shares of our common stock outstanding.</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: center"><B><A NAME="a_010"></A>DESCRIPTION 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">For a description of our capital stock, including
our common stock and the material terms of our Articles of Incorporation, as amended, and Bylaws, as amended, see our Annual Report on
Form 10-K for the year ended December 31, 2023 filed with the SEC and Exhibit 4.3 thereto, entitled Description of Securities, and incorporated
by reference in this prospectus. For instructions on how to find copies of the filings incorporated by reference in this prospectus, see
&ldquo;Where You Can Find More Information.&rdquo;</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DESCRIPTION OF SECURITIES WE ARE OFFERING</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 offering up to [&nbsp;&nbsp; ] shares of our common
stock. We are also offering up to [&nbsp;&nbsp; ] pre-funded warrants to those purchasers whose purchase of shares of common stock in this offering
would result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the
election of the purchaser, 9.99%) of our outstanding shares of common stock following the consummation of this offering in lieu of the
shares of common stock that would result in such excess ownership. For each pre-funded warrant we sell, the number of shares of common
stock we are offering will be decreased on a one-for-one basis. Each pre-funded warrant will be exercisable for one share of common stock.
No warrant for fractional shares of common stock will be issued, rather warrants will be issued only for whole shares of common stock.
We are also registering the shares of common stock issuable from time to time upon exercise of the pre-funded warrants offered hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>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">The material terms and provisions of our common
stock are described under the caption &ldquo;Description of Securities&rdquo; in our Annual Report on Form 10-K/A for the year ended December
31, 2023 filed with the SEC and Exhibit 4.3 thereto, entitled Description of Securities, and incorporated by reference 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"><B>Pre-funded 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">The following summary of certain terms and provisions
of the pre-funded warrants that are being offered hereby is not complete and is subject to, and qualified in its entirety by, the provisions
of the pre-funded warrant, the form of which will be filed as an exhibit to the registration statement of which this prospectus forms
a part. Prospective investors should carefully review the terms and provisions of the form of pre-funded warrant for a complete description
of the terms and conditions of the pre-funded warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>Duration and Exercise Price </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">Each pre-funded warrant offered hereby will have
an initial exercise price per share of common stock equal to $0.0001. The pre-funded warrants will be immediately exercisable and will
expire when exercised in full. The exercise price and number of shares of common stock issuable upon exercise is subject to appropriate
adjustment in the event of share dividends, share splits, reorganizations or similar events affecting our shares of common stock and the
exercise 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"><I>Exercisability </I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The pre-funded warrants will be exercisable, at
the option of each holder, in whole or in part, by delivering to us a duly executed exercise notice accompanied by payment in full for
the number of shares of common stock purchased upon such exercise (except in the case of a cashless exercise as discussed below). A holder
(together with its affiliates) may not exercise any portion of the pre-funded warrant to the extent that the holder would own more than
4.99% of the outstanding shares of common stock immediately after exercise, except that upon at least 61 days&rsquo; prior notice from
the holder to us, the holder may increase the amount of beneficial ownership of outstanding shares after exercising the holder&rsquo;s
pre-funded warrants up to 9.99% of the number of our shares of common stock outstanding immediately after giving effect to the exercise,
as such percentage ownership is determined in accordance with the terms of the pre-funded warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>Cashless Exercise </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">In lieu of making the cash payment otherwise contemplated
to be made to us upon such exercise in payment of the aggregate exercise price, the holder may elect instead to receive upon such exercise
(either in whole or in part) the net number of shares of common stock determined according to a formula set forth in the pre-funded warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>Fractional Shares </I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No fractional shares of common stock will be issued
upon the exercise of the pre-funded warrants. Rather, at our election, the number of shares of common stock to be issued will be rounded
up to the nearest whole number or we will pay a cash adjustment in an amount equal to such fraction multiplied by the exercise 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"><I>Transferability </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">Subject to applicable laws, a pre-funded warrant
may be transferred at the option of the holder upon surrender of the pre-funded warrants to us together with the appropriate instruments
of transfer.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>Trading Market </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">There is no trading market available for the pre-funded
warrants on any securities exchange or nationally recognized trading system, and we do not expect a trading market to develop. We do not
intend to list the pre-funded warrants on any securities exchange or nationally recognized trading market. Without a trading market, the
liquidity of the pre-funded warrants will be extremely limited. The shares of common stock issuable upon exercise of the pre-funded warrants
are currently traded on Nasdaq under the symbol &ldquo;REBN.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Right as a Shareholder </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">Except as otherwise provided in the pre-funded
warrants or by virtue of such holder&rsquo;s ownership of shares of common stock, the holders of the pre-funded warrants do not have the
rights or privileges of holders of our shares of common stock, including any voting rights, until they exercise their pre-funded warrants.
The pre-funded warrants will provide that holders have the right to participate in distributions or dividends paid on our shares of common
stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Fundamental Transaction </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">In the event of a fundamental transaction, as
described in the pre-funded warrants and generally including any reorganization, recapitalization or reclassification of our shares of
common stock, the sale, transfer or other disposition of all or substantially all of our properties or assets, our consolidation or merger
with or into another person, the acquisition of more than 50% of our outstanding securities, or any person or group becoming the beneficial
owner of 50% of the voting power represented by our outstanding shares of securities, the holders of the pre-funded warrants will be entitled
to receive upon exercise of the pre-funded warrants the kind and amount of securities, cash or other property that the holders would have
received had they exercised the pre-funded warrants immediately prior to such fundamental transaction on a net exercise basis.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_011"></A>PLAN OF DISTRIBUTION</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 engaged Dawson James Securities, Inc. (&ldquo;Dawson&rdquo;
or the &ldquo;placement agent&rdquo;) to act as our exclusive placement agent to solicit offers to purchase the securities offered by
this prospectus on a reasonable best efforts basis. Dawson is not purchasing or selling any securities, nor are they required to arrange
for the purchase and sale of any specific number or dollar amount of securities, other than to use their &ldquo;reasonable best efforts&rdquo;
to arrange for the sale of the securities by us. Therefore, we may not sell the entire amount of securities being offered. There is no
minimum amount of proceeds that is a condition to closing of this offering. Dawson may engage one or more sub-placement agents or selected
dealers to assist with the offering. Investors purchasing securities offered hereby will have the option to execute a securities purchase
agreement with us. In addition to rights and remedies available to all investors in this offering under federal securities and state law,
the investors which enter into a securities purchase agreement will also be able to bring claims of breach of contract against us. The
ability to pursue a claim for breach of contract is material to larger investors in this offering as a means to enforce the following
covenants uniquely available to them under the securities purchase agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We will deliver the securities being issued to
the investors upon receipt of such investor&rsquo;s funds for the purchase of the securities offered pursuant to this prospectus supplement.
We expect to deliver the securities being offered pursuant to this prospectus supplement on or about [&nbsp;&nbsp; ], 2024.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Fees and Expenses </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 following table shows the per share and per
pre-funded warrant, and total placement agent fees we will pay in connection with the sale of the securities in this offering.</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: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Per Share of <BR>
Common <BR>
Stock</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Per <BR>
Pre- Funded <BR>
Warrant</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 64%">Public offering price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Placement agent fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</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<SUP>(1)</SUP></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><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: 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"></TD><TD STYLE="width: 0.25in"><SUP>(1)</SUP></TD><TD STYLE="text-align: justify">The amount of the offering proceeds to us presented in this table does not give effect to any exercise
of the pre-funded warrants being issued in this offering.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">We have agreed to
pay the placement agent a total cash fee up to (i) 8.0% of the gross proceeds of this offering, provided that such commissions shall be
reduced to 3.5% if and to the extent any retail investors introduced to the offering by any officer and director of the Company. We will
also be responsible for any pay all expenses related to the offering, including (a) all filing fees and registration with the Commission,
(b) all FINRA and Nasdaq fees; (c)&nbsp;all blue sky fees; (d) the costs of mailing and printing, transfer and stamp taxes; and (e) fees
and expenses of our accountants and legal counsel. We estimate the total offering expenses of this offering that will be payable by us,
excluding the placement agent fees and expenses, will be approximately $[125,000]. After deducting the placement agent fees and our estimated
offering expenses, we expect the net proceeds from this offering to be approximately $[&nbsp;&nbsp; ].</FONT>&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"><B>Lock-Ups</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 agreed that our directors and officers
will enter into customary &ldquo;lock-up&rdquo; agreements for a period of 180 days following the consummation of this offering that the
aforementioned parties will not, without the written consent of Dawson, (a) offer, sell, or otherwise transfer or dispose of, directly
or indirectly, any shares of capital stock or any securities convertible or exercisable or exchangeable for shares of capital stock of
the Company; or (b) file or cause to be filed any registration statement with the Commission relating to the offering of any shares of
capital stock of the Company or any securities convertible into or exchangeable for shares of capital stock of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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"><B>Determination of Offering Price </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 public offering price per share and the public
offering price per pre-funded warrant we are offering and the exercise prices and other terms of the pre-funded warrants were negotiated
between us and the investors, in consultation with the placement agent based on the trading of our common stock prior to this offering,
among other things. Other factors considered in determining the public offering prices of the securities we are offering and the exercise
prices and other terms of the pre-funded warrants include the history and prospects of our company, the stage of development of our business,
our business plans for the future and the extent to which they have been implemented, an assessment of our management, general conditions
of the securities markets at the time of the offering and such other factors as were deemed relevant.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>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 0pt 0.7pt; text-align: justify">Our transfer agent and registrar is
Securities Transfer Corporation. The transfer agent&rsquo;s address is 15500 Roosevelt Blvd, Suite 104, Clearwater, Florida 33760 and
the telephone number is (469) 633-0101.<B>&nbsp;</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>Listing</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 common stock is currently listed on Nasdaq
under the symbol &ldquo;REBN.&rdquo; On [&nbsp;&nbsp; ], 2024, the closing price per share of our common stock was $[&nbsp;&nbsp; ]. There is no established public
trading market for the pre-funded warrants, and we do not expect such markets to develop. In addition, we do not intend to apply to list
the pre-funded warrants on any national securities exchange or other nationally recognized trading system. Without an active trading market,
the liquidity of the pre-funded warrants will be limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>Indemnification </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 agreed to indemnify the placement agent
against certain liabilities, including certain liabilities arising under the Securities Act, or to contribute to payments that the placement
agent may be required to make for these 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"><B>Regulation M </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 placement agent may be deemed to be an underwriter
within the meaning of Section 2(a)(11) of the Securities Act and any fees received by it and any profit realized on the sale of the securities
by it while acting as principal might be deemed to be underwriting discounts or commissions under the Securities Act. The placement agent
will be required to comply with the requirements of the Securities Act and the Exchange Act, including, without limitation, Rule 10b-5
and Regulation M under the Exchange Act. These rules and regulations may limit the timing of purchases and sales of our securities by
the placement agent. Under these rules and regulations, the placement agent may not engage in any stabilization activity in connection
with our securities; and (ii) bid for or purchase any of our securities or attempt to induce any person to purchase any of our securities,
other than as permitted under the Exchange Act, until they have completed their participation in the distribution.</P>

<P STYLE="font: 10pt Times 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>Discretionary Accounts</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 Placement Agent does not intend to confirm
sales of the securities offered hereby to any accounts over which it has discretionary authority.</P>

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

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

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<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; background-color: white"><B>Other Relationships</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">The Placement Agent and
certain of its affiliates are full service financial institutions engaged in various activities, which may include securities trading,
commercial and investment banking, financial advisory, investment management, investment research, principal investment, hedging, financing
and brokerage activities. The Placement Agent and certain of its affiliates have, from time to time, performed, and may in the future
perform, various commercial and investment banking and financial advisory services for us and our affiliates, for which they received
or will receive customary fees and expenses.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">In the ordinary course of their various business
activities, the Placement Agent and certain of its affiliates may make or hold a broad array of investments and actively trade debt and
equity securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the
accounts of their customers, and such investment and securities activities may involve securities and/or instruments issued by us and
our affiliates. If the Placement Agent or its affiliates have a lending relationship with us, they routinely hedge their credit exposure
to us consistent with their customary risk management policies. The Placement Agent and its affiliates may hedge such exposure by entering
into transactions that consist of either the purchase of credit default swaps or the creation of short positions in our securities or
the securities of our affiliates, including potentially the common stock offered hereby. Any such short positions could adversely affect
future trading prices of the common stock offered hereby. The Placement Agent and certain of its affiliates may also communicate independent
investment recommendations, market color or trading ideas and/or publish or express independent research views in respect of such securities
or instruments and may at any time hold, or recommend to clients that they acquire, long and/or short positions in such securities and
instruments.&nbsp;</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; background-color: white"><B>Electronic Offer, Sale, and Distribution
of Securities</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">A prospectus in electronic
format may be made available on the websites maintained by the placement agent, if any, participating in this offering and the placement
agent may distribute prospectuses electronically. Other than the prospectus in electronic format, the information on these websites is
not part of this prospectus or the registration statement of which this prospectus forms a part, has not been approved or endorsed by
us or the placement agent, and should not be relied upon by investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>Offer and Sale 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 placement agent 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 the 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 0pt -0.25in; text-indent: 0.25in; text-align: justify">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_016"></A>MANAGEMENT</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"><B>Current Directors and Executive Officers</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table provides information regarding
our executive officers and members of our board of directors as of the date of the registration statement of which this prospectus is
a part:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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; border-bottom: black 1.5pt solid; width: 40%"><FONT STYLE="font-size: 10pt"><B>Name</B>&nbsp;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt solid; text-align: center; width: 8%"><FONT STYLE="font-size: 10pt"><B>Age</B>&nbsp;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1.5pt solid; width: 50%"><FONT STYLE="font-size: 10pt"><B>Position</B>&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B><I>Executive Officers</I></B>&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Jay Kim </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">62</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Chief Executive Officer and Director </FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Stephan Kim </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">48</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Chief Financial Officer </FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B><I>Non-Employee Directors </I></B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Farooq M. Arjomand </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">66</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Chairman of the Board of Directors and Independent Director </FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Dennis R. Egidi </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">74</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Director </FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Sehan Kim </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">69</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Independent Director </FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Andy Nasim</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">43</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Independent Director</FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Jennifer Tan</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">56</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Independent Director </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Jay Kim, Chief Executive Officer and Director</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Kim has served as our Chief Executive Officer
since our inception in 2014. On July 1, 2007, Mr. Kim founded Wellspring Industry, Inc., which created the yogurt distribution company,
&ldquo;Tutti Frutti,&rdquo; and the bakery-caf&eacute; franchise, &ldquo;O&rsquo;My Buns.&rdquo; Tutti Frutti grew to approximately 700
agents worldwide that offered self-serve frozen yogurt. Mr. Kim sold the majority ownership of Wellspring to group of investors in 2017
to focus his efforts on Reborn Coffee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prior to beginning Wellspring, Mr. Kim was the
owner of Coffee Roasters in Riverside, California from 2002 through 2007. Mr. Kim worked as the project manager for JES Inc., based in
Brea, California from 1997 through 2002 where he coordinated and managed environmental engineering projects. Mr. Kim worked as a Senior
Process Engineer for Allied Signal Environment Catalyst in Tulsa, Oklahoma, from 1992 to 1997 where he coordinated and implemented projects
related to plant productivity. He also acted as the leader in start-up plant to be based in Mexico for Allied Signal. From 1988 to 1992
Mr. Kim worked as the plant start-up engineer for Toyota Auto Body Inc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Kim has a B.S. in Chemical Engineering from
California State University at Long Beach and followed a Chemical office basic at U.S. Army Chemical School in 1988. He was commissioned
1st. LT. of the U.S. Army in 1986 and retired from the U.S. Army in 1988.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Kim has served as our full-time Chief Financial
Officer since June 26, 2022. Mr. Kim previously provided professional accounting and tax consulting services for nearly 20 years to various
clients in the consumer retail, healthcare, industrial manufacturing, and technology industries. Throughout his career as a public accountant,
controller, and banker in the United States and South Korea, Mr. Kim has obtained broad and in-depth expertise on international accounting,
finance, taxes, and Sarbanes-Oxley 404 compliance. Mr. Kim graduated from Sogang University in South Korea with a B.A. in Sociology and
Business in 2002 and earned a Master&rsquo;s degree in Professional Accountancy from Indiana University in 2005. Mr. Kim began his career
in 2002 as a banker with Shinhan Bank in South Korea. From 2005 to 2010, Mr. Kim was an Audit Manager at KPMG, Los Angeles office.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Farooq M. Arjomand, Chairman of the Board
of Directors</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Farooq Arjomand has served as the Chairman of
the Board of Directors of Reborn Global since January 2015, and took over as the Chairman of the Board of Reborn Coffee Inc. on May 7,
2018. In 1984, he started his career as a banker with HSBC and gained experience across all departments&mdash;namely, private banking,
corporate finance, trade services, and investment banking. During his stint with HSBC, he also became the founding member of Amlak Finance
&amp; Emmar Properties in 1997. Mr. Arjomand founded the Arjomand Group of companies in 2000 and has served as its chief executive officer
since that its inception. Based in Dubai, the Arjomand Group conducts various activities including real estate, manufacturing, trades,
financial activities, and aviation across the GCC, Asia, Europe, and 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">Mr. Arjomand has also served as the Chairman of
DAMAC Properties, a leading developer in the Middle East and as a board member of Al Ahlia Insurance Company BSC, Bahrain. Mr. Arjomand
also serves as Managing Partner of Barakat Group. Barakat Group has been involved in the manufacturing of juices and food stuffs for the
past 30 years. Mr. Arjomand is a citizen of the United Arab Emirates. He graduated with a Business Management degree from Seattle Pacific
University in Seattle, Washington.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Egidi is a licensed real estate broker in
the State of Illinois. Additionally, Mr. Egidi was awarded the CPM&reg; designation through the Institute of Real Estate Management. He
holds a Bachelor&rsquo;s degree in civil engineering and attended graduate school in Civil Engineering at the University of Detroit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Egidi joined as our Director and the Vice
Chairman of the Board of Directors in June 2020. Mr. Egidi formed DRE, Inc., an Illinois real estate development company in 1993, developing
over 30 affordable housing projects in Illinois, Ohio, Indiana, Iowa, and California, totaling approximately 5,000 units. Today, he continues
to serve as President of DRE, Inc., and acts as Managing General Partner of 15 limited partnerships, of which five have been redeveloped
over the past five years.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, Mr. Egidi served as President and
Chairman of the board of Promex Midwest, a real estate property management firm. He has been involved in all phases of management in the
commercial, residential, and industrial building fields in the Midwest. Mr. Egidi has extensive knowledge and experience in the construction
industry, having served as Executive Vice President and Chief Estimator for Corbetta Construction Company of Illinois, and then for Contractors
and Engineers, Inc. During his 25 years of experience in the construction industry, he was involved in all types of projects ranging from
multifamily housing, historical rehabs, high-rise office buildings, and shopping centers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Egidi and DRE also have experience in the
food service industry having developed fast food pizza stores in central Illinois under the Rocky Rococo brand in the 1980s. He was also
a principal partner in Cookie Associates of Houston, Texas. Cookie Associates owned and operated 34 &ldquo;Great American Cookie&rdquo;
stores and kiosks in the Houston market. Most recently, Mr. Egidi, as a principal of TF Investors LLC, was a franchisor of eight Tutti
Frutti Frozen Yogurt franchises located in France and England.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Kim has been a Director of Reborn Global since
January 2015. Mr. Kim joined Magitech Incorporation in 2013 as Vice President of Operations. He oversees operations and management in
water and beverage businesses at Magitech Corporation. He led major projects at Magitech to install the enterprise resource planning (&ldquo;ERP&rdquo;)
system and the cold brewed coffee extraction systems.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From 2005 through 2011, Mr. Kim was Senior Vice
President at Korean Air Co., Ltd. (&ldquo;Korean Air&rdquo;). He was the Head of the Aerospace Division at Korean Air. Prior to that,
Mr. Kim was vice president and general manager of the Commercial Aerostructure Businesses at Korean Air from 2001 through 2005, which
supplied various aircraft structural components to major commercial airplane manufacturers, including Airbus, Boeing, and Embraer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From 1994 through 1997 Mr. Kim worked as a Korean
Air representative at Boeing in Seattle, Washington, and had on the job training in configuration management at Northrop Aircraft company
in Los Angeles, California for the Korean Fighter Coproduction Program in 1981. He joined Korean Air in August 1979 as an Aerospace structural
engineer. Mr. Kim studied Aerospace Engineering at Seoul National University in 1973 through 1977 and holds a Master&rsquo;s Degree in
business management from Busan National University.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Andy Nasim, Director</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">Mr. Nasim graduated with a Bachelor of Science
in Business with Information Technology from Staffordshire University, United Kingdom. He commenced his career in 2002 as a business development
manager with Kenanga Capital Sdn Bhd, the stockbroking lending division of Kenanga Investment Bank Berhad where he drove the credit business
of corporate banking, equity financing, and development of financing solutions through various structured financing products and Islamic
trade financing. He then became Head of Kenanga Private Equity division in 2010 where he was involved in strategic offshore merger and
acquisition for the group. He obtained extensive experience in the capital markets and financial services operations. From January 2017
to present, Mr. Nasim serves as CEO and Executive Director of the Wellspring Group; a company which owns the global trademark of a world-renowned
dessert brand. He oversees strategic planning and international brand expansion for the Group.</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>Jennifer Tan, Director</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ms. Tan has over 30 years&rsquo; experience as
a global entrepreneur in diversified businesses in the United States, Europe and Asia. Since 2020, she has served as Chief Executive Officer
of Hawaii Volcano Tea LP, a tea farm with multiple locations in the Volcano area of Hawaii Island. From 2009 through 2019, Ms. Tan served
as Managing Director of Tutti Frutti (China) Limited, developing and executing marketing plans for Tutti Frutti Frozen Yogurt stores on
both corporate-owned and franchise retail stores in China, Hong Kong, and Macau. From 1997 through 2001, she served as the Managing Director
of International Golf &amp; Yacht Club (Hong Kong) Limited and Mass Star Development Limited.</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>Family Relationships</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There are no family relationships among any of our executive officers
or directors.</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>Board Composition</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our business and affairs are managed under the
direction of our board of directors, a majority of which are independent (i.e., Farooq M. Arjomand, Sehan Kim, Andy Nasim, and Jennifer
Tan). We have six directors with no vacancies. Our current directors will continue to serve as directors until their resignation, removal,
or successor is duly elected.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 certificate of incorporation and our bylaws
permit our board of directors to establish the authorized number of directors from time to time by resolution. Each director serves until
the expiration of the term for which such director was elected or appointed, or until such director&rsquo;s earlier death, resignation
or removal.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the filing of this the registration statement
of which prospectus is contained, there are no legal proceedings, and during the past ten years there have been no legal proceedings,
that are material to an evaluation of the ability or integrity of any of our directors, director nominees or executive officers.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our board of directors has established a compensation
committee and an audit committee. The composition and responsibilities of each of the committees of our board of directors are described
below. Members serve on these committees until their resignation or until otherwise determined by our board of directors. Our board of
directors may establish other committees as it deems necessary or appropriate from time to time.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the date of this filing, our audit committee
consists of Farooq M. Arjomand, Sehan Kim, and Andy Nasim. Each member of our audit committee can read and understand fundamental financial
statements in accordance with applicable requirements. The chair of our audit committee is Farooq M. Arjomand, who our board of directors
has determined is an &ldquo;audit committee financial expert&rdquo; within the meaning of SEC regulations. In arriving at these determinations,
our board of directors has examined each audit committee member&rsquo;s scope of experience and the nature of their employment in the
corporate finance sector.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The principal duties and responsibilities of our audit committee include,
among other things:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">hiring and selecting a qualified firm to serve as the independent registered public accounting firm to audit our financial statements;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">helping to ensure the independence and performance of the independent registered public accounting firm;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">helping to maintain and foster an open avenue of communication between management and the independent registered public accounting firm;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">discussing the scope and results of the audit with the independent registered public accounting firm, and reviewing, with management and the independent registered public accounting firm, our interim and year-end operating results;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">developing procedures for employees to submit concerns anonymously about questionable accounting or audit matters;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">reviewing our policies on risk assessment and risk management;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">reviewing related party transactions;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">obtaining and reviewing a report by the independent registered public accounting firm at least annually, that describes its internal quality-control procedures, any material issues with such procedures, and any steps taken to deal with such issues when required by applicable law; and</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">approving (or, as permitted, pre-approving) all audit and all permissible non-audit services to be performed by the independent registered public accounting firm.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our audit committee operates under a written charter
that satisfies the applicable listing standards of the Nasdaq Capital Market. A copy of our audit committee charter is available on our
website at www.reborncoffee.com.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our compensation committee consists of Farooq
M. Arjomand, Sehan Kim, and Andy Nasim. The chair of our compensation committee is Andy Nasim.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The principal duties and responsibilities of our
compensation committee include, among other things:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">approving the retention of compensation consultants and outside service providers and advisors;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">reviewing and approving, or recommending that our board of directors approve, the compensation, individual and corporate performance goals and objectives and other terms of employment of our executive officers, including evaluating the performance of our chief executive officer and, with his assistance, that of our other executive officers;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">reviewing and recommending to our board of directors the compensation of our directors;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">administering our equity and non-equity incentive plans;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">reviewing our practices and policies of employee compensation as they relate to alignment of incentives;</FONT></TD></TR>
</TABLE>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">reviewing and evaluating succession plans for the executive officers;</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">reviewing and approving, or recommending that our board of directors approve, incentive compensation and equity plans; and</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-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">reviewing and establishing general policies relating to compensation and benefits of our employees and reviewing our overall compensation philosophy.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Our compensation
committee operates under a written charter that satisfies the applicable listing standards of the Nasdaq Capital Market. A copy of our
compensation committee charter is available on our website at </FONT>www.reborncoffee.com<FONT STYLE="font-size: 10pt">.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">None of the members of the compensation committee
are currently, or have been at any time, one of our executive officers or employees. None of our executive officers currently serve, or
have served during the last year, as a member of the board of directors or compensation committee of any entity that has one or more executive
officers serving as a member of our board of directors or compensation committee.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We do not have a standing nominating committee.
In accordance with the Nasdaq Stock Exchange corporate governance standards, a majority of the independent directors may recommend a director
nominee for selection by the board of directors. The board of directors believes that the independent directors can satisfactorily carry
out the responsibility of properly selecting or approving director nominees without the formation of a standing nominating committee.
As there is no standing nominating committee, we do not have a nominating committee charter in place.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The board of directors will also consider director
candidates recommended for nomination by our stockholders during such times as they are seeking proposed nominees to stand for election
at the next annual meeting of stockholders (or, if applicable, a special meeting of stockholders). Our stockholders that wish to nominate
a director for election to our board of directors should follow the procedures set forth in our bylaws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We expect to expand our board of directors in
the future to include additional independent directors. In adding additional members to our board of directors, we will consider each
candidate&rsquo;s independence, skills and expertise based on a variety of factors, including the person&rsquo;s experience or background
in management, finance, regulatory matters and corporate governance. Further, when identifying nominees to serve as a director, we expect
that our board of directors will seek to create a board of directors that is strong in its collective knowledge and has a diversity of
skills and experience with respect to accounting and finance, management and leadership, vision and strategy, business operations, business
judgment, industry knowledge and corporate governance.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 3, 2017, we adopted a Code of Business
Conduct and Ethics that applies to all our employees, officers and directors. This includes our principal executive officer, principal
financial officer and principal accounting officer or controller, or persons performing similar functions. The full text of our Code of
Business Conduct and Ethics is posted on our website at www.reborncoffee.com. We intend to disclose on our website any future amendments
of our Code of Business Conduct and Ethics or waivers that exempt any principal executive officer, principal financial officer, principal
accounting officer or controller, persons performing similar functions or our directors from provisions in the Code of Business Conduct
and Ethics. Information contained on, or that can be accessed through, our website is not incorporated by reference herein, and you should
not consider information on our website to be part of this prospectus.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have analyzed our compensation programs and
policies to determine whether those programs and policies are reasonably likely to have a material adverse effect on 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"></P>

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<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>Compensation Philosophy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt"><B>&nbsp;</B></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">pay for performance;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">fair compensation that is competitive
with market standards;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">compensation mix according
to growth stage of our company as well as job level; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">incentivizing employees to
work for long-term sustainable and profitable growth of our company.</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"><B>Objective of Executive Compensation Program</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The objective of our compensation program is to
provide a fair and competitive compensation package in the industry to each named executive officer (&ldquo;NEO&rdquo;) that will enable
us to:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">attract and hire outstanding
individuals to achieve our mid-term and long-term visions;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">motivate, develop and retain
employees; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">align the financial interests
of each named executive officer with the interests of our stakeholders including stockholders and encourage each named executive officer
to contribute to enhance value of the Company.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our named executive officers for the year 2023,
which consist of our principal executive officers, were:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Jay Kim, President and Chief
Executive Officer; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Stephan Kim, Chief Financial
Officer.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.5in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Compensation Committee oversees our executive
compensation program and are responsible for approving the nature and amount of the compensation paid to our NEOs. The committee also
administers our equity compensation plan and awards.</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"><B>Elements of Compensation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our compensation program for NEOs consists of
the following elements of compensation, each described in greater depth below:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Base salaries;</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" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Performance-based bonuses;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Equity-based incentive compensation; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">General benefits</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"><B><I>Base Salary</I></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; text-align: justify">Base salaries are an annual fixed level of cash
compensation to reflect each NEO&rsquo;s performance, role and responsibilities, and retention considerations.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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"><B><I>Performance-Based Bonus</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To incentivize management to drive strong operating
performance and reward achievement of our business goals, our executive compensation program includes performance-based bonuses for NEOs.
Our Compensation Committee has established annual target performance-based bonuses for each NEO during the first quarter of the fiscal
year.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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>Equity Compensation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may pay equity-based compensation to our NEOs
in order to link our long-term results achieved for our stockholders and the rewards provided to NEOs, thereby ensuring that such NEOs
have a continuing stake in our long-term success.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our NEOs are provided with other fringe benefits
that we believe are commonly provided to similarly situated executives.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 Compensation Table &ndash; Officers</I></B><I>&nbsp;</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth information concerning
the compensation of our named executive officers for the years ended December 31, 2023 and December 31, 2022.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center">Salary</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center">Bonus</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center">Stock<BR> Awards</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center">Option<BR> Awards</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center">Non-equity<BR> Incentive plan<BR> compensation</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center">Change in<BR> Pension<BR> Value and<BR> Nonqualified<BR> deferred<BR> compensation</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center">All other<BR> Compensation</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center">Total</TD><TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-style: italic; border-bottom: Black 1.5pt solid">Name and&#8239;principal position</TD><TD STYLE="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font-weight: bold; font-style: italic; text-align: center">Year</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1.5pt solid">($)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1.5pt solid">($)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1.5pt solid">($)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1.5pt solid">($)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1.5pt solid">($)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1.5pt solid">($)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1.5pt solid">($)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1.5pt solid">($)</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 23.5%; text-align: left; text-indent: -9pt; padding-left: 9.25pt">Jay Kim<BR> Chief Executive Officer</TD><TD STYLE="width: 0.5%">&nbsp;</TD>
    <TD STYLE="width: 0.5%; text-align: center">&nbsp;</TD><TD STYLE="width: 7%; text-align: center">2023</TD><TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD><TD STYLE="width: 0.5%">&nbsp;</TD>
    <TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">150,000</TD><TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD><TD STYLE="width: 0.5%">&nbsp;</TD>
    <TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">-0-</TD><TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD><TD STYLE="width: 0.5%">&nbsp;</TD>
    <TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">-0-</TD><TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD><TD STYLE="width: 0.5%">&nbsp;</TD>
    <TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">-0-</TD><TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD><TD STYLE="width: 0.5%">&nbsp;</TD>
    <TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">-0-</TD><TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD><TD STYLE="width: 0.5%">&nbsp;</TD>
    <TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">-0-</TD><TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD><TD STYLE="width: 0.5%">&nbsp;</TD>
    <TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">-0-</TD><TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD><TD STYLE="width: 0.5%">&nbsp;</TD>
    <TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">150,000</TD><TD STYLE="width: 0.5%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -9pt; padding-left: 9.25pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">2022</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">144,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">200,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-0-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-0-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-0-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-0-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-0-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">344,000</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: 9.25pt">Stephan Kim<BR> Chief Financial Officer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">2023</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">144,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-0-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-0-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-0-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-0-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-0-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-0-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">144,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -9pt; padding-left: 9.25pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">2022</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">83,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-0-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-0-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-0-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-0-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-0-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">139,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective July 27, 2022, we executed an employment
agreement with Stephan Kim for Mr. Kim to serve as our full time Chief Financial Officer, effective immediately. Mr. Kim receives a monthly
payment of $12,000 ($144,000 annually) as compensation for his services, and we granted $56,000 worth of restricted stock units (RSUs),
which vested three months after employment and can be sold after one year. The employment agreement is an at-will agreement and is terminable
by either party at any time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except as set forth above we do not currently
have employment agreements with any of our NEOs<B>.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Outstanding Equity Awards at Fiscal Year-End</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">As of December 31, 2023, there were no outstanding equity awards for
each of the NEOs.</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"><B>Director Compensation</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 compensation was paid to our non-employee directors
for services rendered during the years ended December 31, 2023 and 2022.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_012"></A>LEGAL MATTERS</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">Certain legal matters in connection with this
offering, including the validity of the securities offered in this prospectus will be passed upon for us by FitzGerald Kreditor Bolduc
Risbrough LLP, Irvine, California. Certain other legal matters in connection with this offering will be passed upon for the placement
agent by ArentFox Schiff LLP, Washington, D.C.</P>

<P STYLE="font: 10pt Times New Roman, 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>CHANGE IN ACCOUNTANT</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"><B><I>Change in Accountant</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective May 7, 2024, we dismissed BF Borgers
PC (&ldquo;BF Borgers&rdquo;) as our independent registered public accounting firm. On May 14, 2024, we engaged BCRG Group to replace
BF Borgers. The decision to change independent registered public accounting firms was directed and approved by our audit committee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BF Borgers&rsquo; audit reports on our consolidated
financial statements as of and for the fiscal years ended December 31, 2023 and December 31, 2022 did not contain an adverse opinion or
a disclaimer of opinion and were not qualified or modified as to audit scope or accounting principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 fiscal years ended December 31, 2023
and 2022, and the subsequent interim period through the date of this report, there were no disagreements, as that term is defined in Item
304(a)(1)(iv) of Regulation S-K, between the Company and BF Borgers on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, which disagreements, if not resolved to BF Borgers&rsquo; satisfaction, would have caused
BF Borgers to make reference to such disagreements in its audit reports.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 fiscal years ended December 31, 2023
and 2022, and the subsequent interim period through the date of this report, there were no reportable events within the meaning of Item
304(a)(1)(v) of Regulation S-K.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prior to retaining BCRG Group, we did not consult
with BCRG Group regarding either: (i) the application of accounting principles to a specified transaction, either contemplated or proposed,
or the type of audit opinion that might be rendered on our financial statements; or (ii) any matter that was the subject of a &ldquo;disagreement&rdquo;
or a &ldquo;reportable event&rdquo; (as those terms are defined in Item 304 of Regulation S-K).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The SEC has advised that, in lieu of obtaining
a letter from BF Borgers stating whether or not it agrees with the statements herein, we may indicate that BF Borgers is not currently
permitted to appear or practice before the SEC for reasons described in the SEC&rsquo;s Order Instituting Public Administrative and Cease-and-Desist
Proceedings Pursuant to Section 8A of the Securities Act of 1933, Sections 4C and 21C of the Securities Exchange Act of 1934 and Rule
102(e) of the Commission&rsquo;s Rules of Practice, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order, dated
May 3, 2024.</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_013"></A>EXPERTS</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">Our consolidated balance sheets as of December
31, 2023 and the related consolidated statement of operations, stockholders&rsquo; equity and cash flows for the year ended December 31,
2023 incorporated by reference in this prospectus have been audited by <FONT STYLE="background-color: white">BCRG Group</FONT>, independent
registered public accounting firm, as indicated in their report with respect thereto, and have been so included in reliance upon the report
of such firm 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: justify">Our consolidated balance sheets as of December
31, 2022 and the related consolidated statement of operations, stockholders&rsquo; equity and cash flows for the year ended December 31,
2022 incorporated by reference in this prospectus have been audited by Kreit &amp; Chiu CPA LLP, independent registered public accounting
firm, as indicated in their report with respect thereto, and have been so included in reliance upon the report of such firm given on their
authority as experts in accounting and auditing.&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"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_014"></A><B>INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</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">The SEC allows us to &ldquo;incorporate by reference&rdquo;
into this prospectus the information we file with the SEC, which means that we can disclose important information to you by referring
you to those documents. Any information referenced this way is considered to be part of this prospectus, and any information that we file
later with the SEC will automatically update and, where applicable, supersede this information. We incorporate by reference the following
documents that we have filed with the SEC (other than, in each case, documents or information deemed to have been furnished and not filed
in accordance with the SEC&rsquo;s rules):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -24pt">&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; width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">&#9679; </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our Annual Report on </FONT><FONT STYLE="font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024026917/ea0201973-10k_reborn.htm">Form 10-K</A></FONT> <FONT STYLE="font-size: 10pt">for the year ended December 31, 2023, filed with the Securities and Exchange Commission on March 28, 2024, as amended by our Annual Report on </FONT><FONT STYLE="font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024059849/ea0208927-10ka1_reborncoffee.htm">Form 10-K/A</A></FONT> <FONT STYLE="font-size: 10pt">for the year ended December 31, 2023, filed with the Securities and Exchange Commission on July 8, 2024 and our Annual Report on </FONT><FONT STYLE="font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024069630/ea0211419-10ka2_reborncoffee.htm">Form 10-K/A</A></FONT> <FONT STYLE="font-size: 10pt">for the year ended December 31, 2023, filed with the Securities and Exchange Commission on August 15, 2024; </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&#9679; </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our Quarterly Report on </FONT><FONT STYLE="font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024063045/ea0209649-10q_reborn.htm">Form 10-Q</A></FONT> <FONT STYLE="font-size: 10pt">for the quarter ended March 31, 2024, filed with the Securities and Exchange Commission on July 19, 2024; </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&#9679; </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our Quarterly Report on </FONT><FONT STYLE="font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024070751/ea0210957-10q_reborn.htm">Form 10-Q</A></FONT> <FONT STYLE="font-size: 10pt">for the quarter ended June 30, 2024, filed with the Securities and Exchange Commission on August 19, 2024; </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&#9679; </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our Current Reports on Form 8-K filed with the Securities and Exchange
    Commission on <A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024002653/ea191469-8k_reborncoffee.htm">January 10, 2024</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024003761/ea191660-8k_reborncoffee.htm">January 16, 2024</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024010577/ea192958-8k_reborn.htm">February 6, 2024</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024012688/ea193416-8k_reborn.htm">February 12, 2024</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024018518/ea0200920-8k_reborn.htm">February 29, 2024</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024026916/ea0202780-8k_reborn.htm">March 28, 2024</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024035216/ea0204401-8k_reborn.htm">April 23, 2024</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024040536/ea0205436-8k_reborn.htm">May 7, 2024</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024043625/ea0206051-8k_reborn.htm">May 15, 2024</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024045998/ea0206706-8k_reborn.htm">May 23, 2024</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024056186/ea0208557-8k_reborn.htm">June 26, 2024</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024073563/ea0212168-8k_reborn.htm">August 29, 2024</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024078299/ea0214158-8k_reborn.htm">September 13, 2024</A>, and <A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024090807/ea0218597-8k_reborn.htm">October 25, 2024</A> (other than
    information &ldquo;furnished&rdquo; under Items 2.02 or 7.01, or corresponding information furnished under Item 9.01 or included
    as an exhibit); and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&#9679; </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the description of our common stock contained in our Annual Report on <A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/1707910/000121390024069630/ea0211419-10ka2_reborncoffee.htm">Form 10-K/A</A> for the year ended December 31, 2023 filed with the SEC and <A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/1707910/000121390024069630/ea0211419-10ka2_reborncoffee.htm">Exhibit 4.3</A> thereto, and any other amendment or report filed for the purpose of updating such description.</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">Additionally, all documents filed by us with the
SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act after (i) the date of the initial filing of the registration statement
to which this prospectus relates and prior to effectiveness of such registration statement, and (ii) the date of this prospectus and before
the termination or completion of any offering hereunder, shall be deemed to be incorporated by reference into this prospectus from the
respective dates of filing of such documents, except that we do not incorporate any document or portion of a document that is &ldquo;furnished&rdquo;
to the SEC, but not deemed &ldquo;filed.&rdquo; We will not, however, incorporate by reference in this prospectus any documents or portions
thereof that are not deemed &ldquo;filed&rdquo; with the SEC, including any information furnished pursuant to Item 2.02 or Item 7.01 of
our current reports on Form 8-K unless, and except to the extent, specified in such current reports</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any information in any of the foregoing documents
will automatically be deemed to be modified or superseded to the extent that information in this prospectus or in a later filed document
that is incorporated or deemed to be incorporated herein by reference modifies or replaces such 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">The SEC maintains an internet website that contains
reports, proxy and information statements and other information regarding the issuers that file electronically with the SEC, including
the Company, and can be accessed free of charge on the SEC&rsquo;s website, www.sec.gov.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The documents incorporated by reference into this
prospectus are also available on our corporate website at www.reborncoffee.com. We will provide to each person, including any beneficial
owner, to whom a prospectus is delivered, a copy of any or all of the information that has been incorporated by reference in this prospectus
but not delivered with this prospectus. You may request a copy of this information at no cost, by writing or telephoning us at the following
address or telephone number:</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">Reborn Coffee, Inc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">580 N. Berry Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Brea, CA 92821</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(714) 784-6369</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"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_015"></A>WHERE YOU CAN FIND MORE INFORMATION</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 filed with the SEC a registration statement
on Form S-1 under the Securities Act with respect to the securities being offered by this prospectus. This prospectus does not contain
all of the information in the registration statement of which this prospectus is a part and the exhibits to such registration statement.
For further information with respect to us and the securities offered by this prospectus, we refer you to the registration statement of
which this prospectus is a part and the exhibits to such registration statement. Statements contained in this prospectus as to the contents
of any contract or any other document are not necessarily complete, and in each instance, we refer you to the copy of the contract or
other document filed as an exhibit to the registration statement of which this prospectus is a part. Each of these statements is qualified
in all respects by this reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 registration statement of which this prospectus
is a part is available at the SEC&rsquo;s website at www.sec.gov. You may also request a copy of these filings, at no cost, by writing
us at 580 N. Berry Street, Brea, CA 92821, Attention: Chief Financial Officer or telephoning us at (714) 784-6369.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 subject to the information and reporting
requirements of the Exchange Act and, in accordance with this law, file periodic reports, proxy statements and other information with
the SEC. These periodic reports, proxy statements and other information are available at the SEC&rsquo;s website referred to above. We
also maintain a website at www.reborncoffee.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.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Up to [&nbsp;&nbsp; ] Shares of Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pre-Funded Warrants to Purchase up to [&nbsp;&nbsp; ] Shares
of Common Stock </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(and shares of Common Stock underlying the Pre-Funded
Warrants)</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DAWSON JAMES SECURITIES, INC.</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">&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"><B>The date of this prospectus is November 12, 2024</B></P>

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


<!-- Field: Page; Sequence: 37 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II &mdash; INFORMATION NOT REQUIRED IN
THE PROSPECTUS</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 0pt 48pt; text-align: justify; text-indent: -48pt"><B>Item 13. Other
Expenses of Issuance and Distribution.</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 an estimate of
the fees and expenses relating to the issuance and distribution of the securities being registered hereby, all of which shall be borne
by the registrant. All of such fees and expenses, except for the Securities and Exchange Commission (&ldquo;SEC&rdquo;) registration and
the FINRA filing fee, are estimated:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 90%; text-align: left">FINRA filing fee</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 10pt">[&nbsp;&nbsp; ]</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Nasdaq additional listing fee</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[&nbsp;&nbsp; ]</FONT></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">SEC registration fee</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[&nbsp;&nbsp; ]</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Legal fees and expenses</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[&nbsp;&nbsp; ]</FONT></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">Printing fees and expenses</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[&nbsp;&nbsp; ]</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Accounting fees and expenses</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">[&nbsp;&nbsp; ]</FONT></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: 1.5pt">Miscellaneous fees and expenses</TD>
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">[&nbsp;&nbsp; ]</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 4pt">Total</TD>
    <TD STYLE="border-bottom: Black 4pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">[&nbsp;&nbsp; ]</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -48pt"><B>Item 14. Indemnification
of Directors and Officers.</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">Under Delaware law, a Delaware 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 (other than one by or in the right of the corporation) by reason
of the fact that the person 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, against judgments, fines, amounts paid in settlement
and reasonable expenses, including attorneys&rsquo; fees actually and necessarily incurred as a result of such action or proceeding, if
such director or officer acted, in good faith, for a purpose which such person reasonably believed to be, in, or not opposed to, the best
interests of the corporation and, in criminal actions or proceedings, in addition, had no reasonable cause to believe that such conduct
was unlawful.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the case of a derivative action, a Delaware
corporation may indemnify any such person against expense, including attorneys&rsquo; fees actually and necessarily incurred by such person
in connection with the defense or settlement of such action or suit if such director or officer if such director or officer acted, in
good faith, for a purpose which such person reasonably believed to be, in or not opposed to, the best interests of the corporation, except
that no indemnification will be made in respect on any claim, issue or matter as to which such person will have been adjudged to be liable
to the corporation unless and only to the extent that the Court of Chancery of the State of Delaware or any other court in which such
action was brought determines such person is fairly and reasonably entitled to indemnity for such expense.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Delaware Law permits a corporation to include
in its certificate of incorporation a provision eliminating or limiting a director&rsquo;s liability to a corporation or its stockholders
for monetary damages for breaches of fiduciary duty. Delaware Law provides, however, that liability for breaches of the duty of loyalty,
acts or omissions not in good faith or involving intentional misconduct, or knowing violation of the law, and the unlawful purchase or
redemption of stock or payment of unlawful purchase or redemption of stock or payment of unlawful dividends or the receipt of improper
personal benefits cannot be eliminated or limited in this 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">Our Certificate of Incorporation and Bylaws provide
that we will indemnify our directors to the fullest extent permitted by Delaware law and may, if and to the extent authorized by the Board
of Directors, indemnify our officers and any other person whom we have the power to indemnify against any liability, reasonable expense
or other matter whatsoever.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any amendment, modification or repeal of the foregoing
provisions shall be prospective only, and shall not affect any rights or protections of any of our directors existing as of the time of
such amendment, modification or repeal.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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">We may also, at the discretion of the Board of
Directors, purchase and maintain insurance to the fullest extent permitted by Delaware law on behalf of any of our directors, officers,
employees or agents against any liability asserted against such person and incurred by such person in any such capacity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Insofar as indemnification for liabilities arising
under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;) may be permitted to directors, officers or persons controlling
the Registrant pursuant to the foregoing, the Registrant has 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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 15. Recent Sales of Unregistered
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">The following is a summary of all of our securities
sold by us within the past three years which were not registered 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">In November 2023, we entered into an exchange
agreement with an entity controlled by one of our directors whereby we issued <FONT STYLE="background-color: white">1,666,667 shares of
common stock in exchange for the surrender and termination of a promissory note in the amount of $1,000,000. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">In January
2024, we sold 1,666,667 shares of common stock to one of our directors for an aggregate purchase price of approximately $1,000,000.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">In February
2024, we entered into a Standby Equity Purchase Agreement (&ldquo;SEPA&rdquo;) with </FONT>YA II PN, LTD. (&ldquo;YA II PN&rdquo;) <FONT STYLE="background-color: white">whereby
we have the right to sell up to an aggregate of $5,000,000 of newly issued shares of common stock. We issued </FONT>64,656 shares of common
stock to YA II PN as an initial fee for commitment to purchase our shares of common stock under the SEPA.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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">In February
2024, we sold 444,445 shares of common stock to an accredited investor for an aggregate purchase price of approximately $1,000,000.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">In May 2024,
we issued a convertible promissory note to</FONT> YA II PN with an initial principal amount of $800,000<FONT STYLE="background-color: white">,
which is convertible at an exercise price of $2.29 per share at </FONT>YA II PN<FONT STYLE="background-color: white">&rsquo;s option,
and a warrant to purchase 175,000 shares of common stock at an exercise price of $2.29 per share. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">In May 2024,
we sold 181,819 shares of common stock to an accredited investor for an aggregate purchase price of approximately $500,000.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">In June
2024, we sold 100,000 shares of common stock to an accredited investor for an aggregate purchase price of approximately $300,000.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">In June
2024, we sold 100,000 shares of common stock to an accredited investor for an aggregate purchase price of approximately $300,000.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">In May 2024,
we issued a convertible promissory note to</FONT> an accredited investor with an initial principal amount of $500,000<FONT STYLE="background-color: white">,
which is convertible at an exercise price of $3.36 per share at </FONT>the accredited investor&rsquo;s <FONT STYLE="background-color: white">option.
</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 issuances listed above were made in reliance
upon exemptions from registration under Section 3(a)(9) and/or Section 4(a)(2) of the Securities Act of 1933, as amended, and Regulation
D promulgated thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: justify; text-indent: -48pt"><B>Item 16. Exhibits.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The list of exhibits in the Exhibit Index to this
registration statement is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, 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 0pt 48pt; text-align: justify; text-indent: -48pt"><B>Item 17. Undertakings.</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The undersigned registrant
hereby undertakes:</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To file, during any period
in which offers or sales are being made, a post-effective amendment to this registration statement:</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-size: 10pt">(i) </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">(ii) </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post- effective amendment thereof) that, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in the volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration statement; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">(iii) </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>provided</I>, <I>however</I>, that paragraphs
(a)(1)(i), (a)(1)(ii), and (a)(1)(iii) above do not apply if the information required to be included in a post-effective amendment by
those paragraphs is contained in reports filed with or furnished to the SEC by the registrant pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;) that are incorporated by reference in the registration
statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is a part of the registration statement.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-size: 10pt">(2) </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">(3) </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To remove from registration by means of a post-effective amendment any of the securities being registered that remain unsold at the termination of the offering.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">(4) </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-size: 10pt">(i) </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and</FONT></TD></TR>
</TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-size: 10pt">(ii) </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by Section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date.</FONT></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="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-size: 10pt">(5) </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">That, for purposes of determining any liability under the Securities Act, each filing of the registrant&rsquo;s annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&rsquo;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-size: 10pt">(i) </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the 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 Brea, California, on November 12, 2024.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">REBORN COFFEE, INC. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; width: 35%"><I>/s/ Jay Kim</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Jay Kim</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POWER OF ATTORNEY</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">Each person whose signature appears below constitutes
and appoints Jay Kim as his true and lawful attorneys-in-fact and agents, each acting alone, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments)
to this registration statement on Form S-1 and any subsequent registration statement the Registrant may hereafter file with the Securities
and Exchange Commission pursuant to Rule 462 under the Securities Act to register additional securities in connection with this registration
statement, and to file this registration statement, 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 and necessary to be done in order to effectuate the same as fully, 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, may lawfully
do or cause to be done by virtue hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Act, 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: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1.5pt solid; width: 35%"><FONT STYLE="font-size: 10pt"><B>Signature</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: center; width: 43%"><FONT STYLE="font-size: 10pt"><B>Title</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: center; width: 20%"><FONT STYLE="font-size: 10pt"><B>Date</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid"><I>/s/ Jay Kim</I></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Chief Executive Officer and Director</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">November 12, 2024</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: justify"><FONT STYLE="font-size: 10pt">Jay Kim</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">(Principal Executive Officer)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid"><I>/s/ Stephan Kim</I></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Chief Financial Officer </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">November 12, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Stephan Kim</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Principal Financial Officer and Principal</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Accounting Officer)</P></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid"><I>/s/ Farooq M. Arjomand</I></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: justify"><FONT STYLE="font-size: 10pt">Farooq M. Arjomand</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Chairman and Director</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">November 12, 2024</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid"><I>/s/ Dennis R. Egidi</I></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: justify"><FONT STYLE="font-size: 10pt">Dennis R. Egidi</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">November 12, 2024</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid"><I>/s/ Sehan Kim</I></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: justify"><FONT STYLE="font-size: 10pt">Sehan Kim </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">November 12, 2024</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid"><I><I>/s/ Andy Nasim</I></I></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: justify"><FONT STYLE="font-size: 10pt">Andy Nasim </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">November 12, 2024</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid"><I>/s/ Jennifer Tan</I></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: justify"><FONT STYLE="font-size: 10pt">Jennifer Tan</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">November 12, 2024</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">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: 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: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; width: 9%"><FONT STYLE="font-size: 10pt">1.1*</FONT></TD>
    <TD STYLE="text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 90%"><A HREF="ea022059001ex1-1_reborn.htm"><FONT STYLE="font-size: 10pt">Form of Placement Agent Agreement </FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">3.1</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390022043710/ea163623ex3-1_reborn.htm"><FONT STYLE="font-size: 10pt">Certificate of Incorporation (Delaware), dated July 27, 2022 (incorporated by reference to Exhibit 3.1 to Amendment No. 5 to our Registration Statement on Form S-1 filed on August 2, 2022)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">3.2</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390022043710/ea163623ex3-2_reborn.htm"><FONT STYLE="font-size: 10pt">Bylaws of Registrant (Delaware) (incorporated by reference to Exhibit 3.2 to Amendment No. 5 to our Registration Statement on Form S-1 filed on August 2, 2022)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">3.3</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024003761/ea191660ex3-1_reborncoffee.htm"><FONT STYLE="font-size: 10pt">Certificate of Amendment to Certificate of Incorporation filed with the Secretary of State of the State of Delaware on January 12, 2024 (incorporated by reference to Exhibit 3.1 to our Current Report on Form 8-K filed on January 16, 2024).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390022043710/ea163623ex4-1_reborn.htm"><FONT STYLE="font-size: 10pt">Specimen Common Stock Certificate (Delaware) (incorporated by reference to Exhibit 4.1 to Amendment No. 5 to our Registration Statement on Form S-1 filed on August 2, 2022)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">4.2</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000165495422005100/rbcff_ex45.htm"><FONT STYLE="font-size: 10pt">Form of Representative&rsquo;s Warrant (incorporated by reference to Exhibit 4.5 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">4.3</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024045998/ea020670601ex4-1_reborn.htm"><FONT STYLE="font-size: 10pt">Warrant to Purchase Common Shares issued May 20, 2024 by Reborn Coffee, Inc. to EF Hutton YA Fund, LP (incorporated by reference to Exhibit 4.1 to our Current Report on Form 8-K filed on May 22, 2024).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">4.4*</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="ea022059001ex4-4_reborn.htm"><FONT STYLE="font-size: 10pt">Form of Securities Purchase Agreement</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">4.5*</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="ea022059001ex4-5_reborn.htm"><FONT STYLE="font-size: 10pt">Form of Pre-funded Warrant</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">5.1**</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Opinion of Fitzgerald Kreditor Bolduc Risbrough LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000165495422005100/rbcff_ex101.htm"><FONT STYLE="font-size: 10pt">Share Exchange Agreement, dated May 7, 2018 by and among Capax, Reborn and each of the RB shareholders (incorporated by reference to Exhibit 10.1 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.2</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000165495422005100/rbcff_ex102.htm"><FONT STYLE="font-size: 10pt">Form of Letter Agreement (Lockup) by and among Registrant, officers and directors of Registrant and EF Hutton (incorporated by reference to Exhibit 10.2 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.3</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000165495422005100/rbcff_ex103.htm"><FONT STYLE="font-size: 10pt">Form of Director and Officer Indemnity Agreement (incorporated by reference to Exhibit 10.3 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.4</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000165495422005100/rbcff_ex104.htm"><FONT STYLE="font-size: 10pt">Shopping Center Lease by and between Reborn Global Holdings, Inc. and La Floresta Regency, LLC, effective July 25, 2016 (incorporated by reference to Exhibit 10.4 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.5</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000165495422005100/rbcff_ex105.htm"><FONT STYLE="font-size: 10pt">Standard Industrial/ Commercial Multi-Tenant Lease, as amended, by and between Reborn Global Holdings, Inc. and Foothill Crescenta, LLC, effective December 6, 2016 (incorporated by reference to Exhibit 10.5 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.6</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000165495422005100/rbcff_ex106.htm"><FONT STYLE="font-size: 10pt">Shopping Center Lease by and between Reborn Global Holdings, Inc. and Sibling Associates, LLC, effective July 12, 2017 (incorporated by reference to Exhibit 10.6 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.7</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000165495422005100/rbcff_ex107.htm"><FONT STYLE="font-size: 10pt">Standard Lease by and between Reborn Global Holdings, Inc. and El Toro, LP, effective February 12, 2021 (incorporated by reference to Exhibit 10.7 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.8</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000165495422005100/rbcff_ex108.htm"><FONT STYLE="font-size: 10pt">Long Term Kiosk License Agreement by and between Reborn Global Holdings, Inc. and Tyler Mall Limited Partnership, effective February 4, 2021 (incorporated by reference to Exhibit 10.8 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.9</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000165495422005100/rbcff_ex109.htm"><FONT STYLE="font-size: 10pt">Long Term Kiosk License Agreement by and between Reborn Global Holdings, Inc. and Stonestown Shopping Center, LP, effective December 22, 2020 (incorporated by reference to Exhibit 10.9 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.10</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000165495422005100/rbcff_ex1010.htm"><FONT STYLE="font-size: 10pt">Long Term Kiosk License Agreement by and between Reborn Global Holdings, Inc. and Glendale I Mall Associates, LP, effective October 27, 2020 (incorporated by reference to Exhibit 10.10 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)</FONT></A></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>

<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="text-align: justify; width: 9%"><FONT STYLE="font-size: 10pt">10.11</FONT></TD>
    <TD STYLE="text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 90%"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000165495422005100/rbcff_ex1011.htm"><FONT STYLE="font-size: 10pt">Form of Subscription Agreement (Regulation A+ Offering) (incorporated by reference to Exhibit 10.11 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.12</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390022043710/ea163623ex10-10_reborn.htm"><FONT STYLE="font-size: 10pt">Amendment to Share Exchange Agreement, dated January 25, 2022, by and among Reborn Coffee Inc., Andrew Weeraratne and each of the former shareholders of Reborn Global Holdings, Inc., a California corporation (incorporated by reference to Exhibit 10.10 to Amendment No. 5 to our Registration Statement on Form S-1 filed on August 2, 2022)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.13</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390022043710/ea163623ex10-11_reborn.htm"><FONT STYLE="font-size: 10pt">Offer of Employment by and between the Company and Stephan Kim, dated July 27, 2022 (incorporated by reference to Exhibit 10.11 to Amendment No. 5 to our Registration Statement on Form S-1 filed on August 2, 2022)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.14</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390023059271/ea182257ex10-1_reborn.htm"><FONT STYLE="font-size: 10pt">Line of Credit Note issued by Reborn Global Holdings, Inc. on June 1, 2023 in the name of DRE, Inc. (incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on July 24, 2023)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.15</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390023091069/ea189185ex10-1_reborncoffee.htm"><FONT STYLE="font-size: 10pt">Exchange Agreement by and between Reborn Coffee, Inc. and DRE, Inc. dated November 28, 2023 (incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on November 29, 2023)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.16</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024003761/ea191660ex10-1_reborncoffee.htm"><FONT STYLE="font-size: 10pt">Securities Subscription Agreement by and between Reborn Coffee, Inc. and the investor listed therein, dated January 10, 2024 (incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on January 16, 2024). </FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.17</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024012688/ea193416ex10-1_reborn.htm"><FONT STYLE="font-size: 10pt">Pre-Paid Advance Agreement by and between Reborn Coffee, Inc. and the EF Hutton YA Fund, LP, dated February 12, 2024 (incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on February 12, 2024). </FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.18</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024012688/ea193416ex10-2_reborn.htm"><FONT STYLE="font-size: 10pt">Standby Equity Purchase Agreement by and between Reborn Coffee, Inc. and YA II PN, Ltd., dated February 12, 2024 (incorporated by reference to Exhibit 10.2 to our Current Report on Form 8-K filed on February 12, 2024). </FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.19</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024018518/ea0200920ex10-1_reborn.htm"><FONT STYLE="font-size: 10pt">Securities Subscription Agreement by and between Reborn Coffee, Inc. and Scott Lee, dated February 29, 2024 (incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on February 29, 2024). </FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.20</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024045998/ea020670601ex10-1_reborn.htm"><FONT STYLE="font-size: 10pt">Convertible Promissory Note issued May 20, 2024, by Reborn Coffee, Inc. to EF Hutton YA Fund, LP (incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on May 22, 2024).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.21</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024073563/ea021216801ex10-1_reborn.htm"><FONT STYLE="font-size: 10pt">Form of Securities Subscription Agreement entered into by Reborn Coffee, Inc. and certain investors in May and June 2024 (incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on August 29, 2024).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.22</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390024073563/ea021216801ex10-2_reborn.htm"><FONT STYLE="font-size: 10pt">Convertible Promissory Note issued August 29, 2024, by Reborn Coffee, Inc. to Quen Inno Tech Co., Ltd. (incorporated by reference to Exhibit 10.2 to our Current Report on Form 8-K filed on August 29, 2024).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">16.1</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1707910/000121390023035603/ea177826ex16-1_reborn.htm"><FONT STYLE="font-size: 10pt">Letter from Kreit and Chiu CPA LLP dated May 1, 2023 (incorporated by reference to Exhibit 16.1 to our Current Report on Form 8-K filed on May 2, 2023)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">21.1</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1707910/000121390024059849/ea020892701ex21-1_reborn.htm"><FONT STYLE="font-size: 10pt">List of Subsidiaries of the Registrant (incorporated by reference to Exhibit 21.1 to our Annual Report on Form 10-K/A filed on August 15, 2024).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">23.1*</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="ea022059001ex23-1_reborn.htm">Consent of Independent Registered Accounting Firm, BCRG Group.</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">23.2**</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Consent of FitzGerald Kreditor Bolduc Risbrough LLP (included in their opinion filed as Exhibit 5.1).</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">107*</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="ea022059001ex-fee_reborn.htm"><FONT STYLE="font-size: 10pt">Filing Fee Table</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<P STYLE="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; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">**</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To be filed by amendment</FONT></TD>
</TR></TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">II-7</P>

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[{"type": "S-1", "sequence": "1", "filename": "ea0220590-s1_reborn.htm", "description": "REGISTRATION STATEMENT", "secsgml_size_bytes": 352831}]
{"company-data": {"conformed-name": "Reborn Coffee, Inc.", "cik": "0001707910", "assigned-sic": "5812", "organization-name": "07 Trade & Services", "irs-number": "474752305", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-1", "act": "33", "file-number": "333-283144", "film-number": "241447265"}, "business-address": {"street1": "580 N. BERRY STREET", "city": "BREA", "state": "CA", "zip": "92821", "phone": "714-784-6369"}, "mail-address": {"street1": "580 N. BERRY STREET", "city": "BREA", "state": "CA", "zip": "92821"}, "former-company": {"former-conformed-name": "CAPAX INC.", "date-changed": "20170530"}}
As filed with the U.S. Securities and Exchange
Commission on November 12, 2024
Registration No. 333-[  
                   ]
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-1
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
REBORN COFFEE, INC.
(Exact name of registrant
as specified in its charter)
Delaware
5810
47-4752305
(State or other jurisdiction of
incorporation or organization)
(Primary Standard Industrial
Classification Code Number)
(I.R.S. Employer
Identification Number)
580 N. Berry Street
Brea, CA 92821
(714) 784-6369
(Address, including zip code, and telephone number,
including area code, of registrant's principal executive offices)
Stephan Kim
Chief Financial Officer
580 N. Berry Street
Brea, CA 92821
(714) 784-6369
(Name, address, including zip code, and telephone
number, including area code, of agent for service)
Please send copies of all communications to:
Lynne Bolduc, Esq.
Josephine Rachelle Aranda, Esq.
FitzGerald Kreditor Bolduc Risbrough LLP
2 Park Plaza, Suite 850
Irvine, CA 92869
(949) 788-8900
Ralph De Martino, Esq.
Marc Rivera, Esq.
ArentFox Schiff LLP
1717 K Street NW
Washington, DC 20006
(202) 724-6848
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:
☒
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, smaller reporting company, or an emerging growth company.
See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company,"
and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☐
Accelerated filer
☐
Non-accelerated filer
☒
Smaller reporting company
☒
Emerging growth company
☐
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 7(a)(2)(B) of the 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 this registration statement shall become effective on such date as the Securities and Exchange Commission, acting
pursuant to said Section 8(a), may determine.
The information in
this 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 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 NOVEMBER 12,
    2024
Up to [   ] Shares of Common Stock
Pre-Funded Warrants to Purchase up to [   ] Shares
of Common Stock
(and shares of Common Stock underlying the Pre-Funded
Warrants)
Reborn
Coffee, Inc.
Reborn Coffee, Inc., a Delaware corporation ("Reborn,"
"we," "us," "our," or the "Company") is offering up to [   ] shares of common stock at an
assumed offering price of $[   ] per share, which is equal to the closing price per share on the Nasdaq Capital Market ("Nasdaq")
on [   ], 2024 pursuant to this prospectus.
We are also offering up to [   ] pre-funded warrants
(and the shares issuable from time to time upon exercise of the pre-funded warrants) to those purchasers whose purchase of shares of common
stock in this offering would result in the purchaser, together with its affiliates and certain related parties, beneficially owning more
than 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock following the consummation of this offering in
lieu of the shares of our common stock that would result in ownership in excess of 4.99% (or, at the election of the purchaser, 9.99%).
Each pre-funded warrant will be exercisable for one share of common stock at an exercise price of $0.0001 per share. For each pre-funded
warrant we sell, the number of shares of common stock we are offering will be decreased on a one-for-one basis. The assumed public offering
price for each such pre-funded warrant is $[   ] which is equal to the closing price per share of our common stock on Nasdaq on [   ], 2024
less the $0.0001 per share exercise price of each such pre-funded warrant. Each pre-funded warrant will be immediately exercisable and
will expire when exercised in full.
We have engaged Dawson James Securities, Inc.,
or the "placement agent," to act as our exclusive placement agent in connection with this offering. The placement agent has
agreed to use its reasonable best efforts to arrange for the sale of the securities offered by this prospectus. The placement agent is
not purchasing or selling any of the securities we are offering and the placement agent is not required to arrange the purchase or sale
of any specific number or dollar amount of securities. We have agreed to pay to the placement agent the placement agent fees set forth
in the table below, which assumes that we sell all of the securities offered by this prospectus. There is no arrangement for funds to
be received in escrow, trust, or similar arrangement. There is no minimum number of shares of common stock or pre-funded warrants or minimum
aggregate amount of proceeds that is a condition for this offering to close. We may sell fewer than all of the shares of common stock
and pre-funded warrants offered hereby, which may significantly reduce the amount of proceeds received by us, and investors in this offering
will not receive a refund if we do not sell all of the securities offered hereby. We will bear all costs associated with the offering.
(See "Plan of Distribution.")
Our common stock is listed on Nasdaq under the
symbol "REBN." On [   ], 2024, the closing price of our common stock as reported on Nasdaq was $[   ]. All share and pre-funded
warrant numbers are based on an assumed public offering price of $[   ] per share (or $[   ] per pre-funded warrant).
There is no established public trading market
for the pre-funded warrants, and we do not expect such markets to develop. We do not intend to apply for listing of the pre-funded warrants
on any securities exchange or other nationally recognized trading system. Without an active trading market, the liquidity of the pre-funded
warrants is limited.
The final public offering price for the securities
offered by this prospectus will be determined between us and the investors in this offering at the time of pricing and may be at a discount
to the current market price. Therefore, the assumed public offering price per share of common stock or pre-funded warrant used throughout
this prospectus may not be indicative of the final public offering price for our common stock or pre-funded warrants, as applicable.
This offering will terminate on [   ], unless we
decide to terminate the offering (which we may do at any time in our discretion) prior to that date. We will have one closing for all
of the securities purchased in this offering. The public offering price per share of common stock (or pre-funded warrant) will be fixed
for the duration of this offering.
We are a "smaller reporting company"
as defined under the federal securities laws and, under applicable Securities and Exchange Commission rules, we have elected to comply
with certain reduced public company reporting and disclosure requirements.
Investing in our securities involves a high
degree of risk. See "
Risk Factors
" beginning on page 7 of this prospectus to read about factors you should consider
before investing in our securities.
Per Share of Common Stock
Per Pre-Funded Warrant
Total
Public offering price
Placement agent fees
(1)
Proceeds to us, before expenses
(2)
(1)
We have agreed to (i) pay the placement agent a cash fee up to 8.0% of the aggregate gross proceeds raised in this offering; provided however, that such commissions shall be reduced to 3.5% if and to the extent any gross proceeds are raised from retail investors introduced to the offering by any officer or director of the Company. We have also agreed to reimburse the placement agent for certain expenses and closing costs. (See "Plan of Distribution" for additional information and a description of the compensation payable to the placement agent.)
(2)
Because there is no minimum number of securities or amount of proceeds required as a condition to closing in this offering, the actual public offering amount, placement agent fees, and proceeds to us, if any, are not presently determinable and may be substantially less than the total maximum offering amounts set forth above. (See "Plan of Distribution" for more information.)
Neither the Securities and Exchange Commission
nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of the disclosures
in the prospectus. Any representation to the contrary is a criminal offense.
The delivery of the shares of common stock and
any pre-funded warrants to purchasers in this offering is expected to be made on or about [  ], 2024.
DAWSON JAMES SECURITIES, INC.
The date of this prospectus is [   ], 2024
TABLE OF CONTENTS
Page
About This Prospectus
ii
Prospectus Summary
1
The Offering
6
Risk Factors
7
Special Note Regarding Forward-Looking Statements
11
Use of Proceeds
12
Market for Common Stock and Dividend Policy
13
Capitalization
14
Security Ownership of Certain Beneficial Owners and Management
15
Description of Securities
16
Plan of Distribution
19
Management
22
Legal Matters
29
Experts
29
Incorporation of Certain Information by Reference
30
Where You Can Find More Information
31
i
ABOUT THIS PROSPECTUS
Unless the context otherwise requires, the terms "Reborn,"
"Reborn Coffee," "the Company," "we," "us" and "our" refer to Reborn Coffee,
Inc.
The registration statement on Form S-1 of which
this prospectus forms a part and that we have filed with the U.S. Securities and Exchange Commission (the "SEC"), includes
exhibits that provide more detail of the matters discussed in this prospectus. You should read this prospectus and the related exhibits
filed with the SEC, together with the additional information described under the heading "Where You Can Find More Information."
You should rely only on the information contained
in this prospectus and the related exhibits, any prospectus supplement or amendment thereto, or to which we have referred you, before
making your investment decision. Neither we nor any financial advisor engaged by us in connection with this offering, have authorized
anyone to provide you with additional information or information different from that contained in this prospectus. To the extent there
is a conflict between the information contained in this prospectus and any prospectus supplement having a later date, the statement in
the prospectus supplement having the later date modifies or supersedes the earlier statement.
You should not assume that the information contained
in this prospectus, any prospectus supplement or amendments thereto, as well as information we have previously filed with the SEC, is
accurate as of any date other than the date on the front cover of the applicable document. Our business, financial condition, results
of operations and prospects may have changed since those dates. This prospectus is an offer to sell only the securities offered hereby,
but only under circumstances and in jurisdictions where it is lawful to do so.
We are not offering to sell or seeking offers
to purchase these securities in any jurisdiction where the offer or sale is not permitted. We have not done anything that would permit
this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than
in the United States. Persons outside the jurisdiction of the United States who come into possession of this prospectus are required to
inform themselves about and to observe any restrictions relating to this offering and the distribution of this prospectus applicable to
that jurisdiction.
If required, each time we offer our securities,
we will provide you with, in addition to this prospectus, a prospectus supplement that will contain specific information about the terms
of that offering. We may also use one or more free writing prospectuses to be provided to you that may contain material information relating
to that offering. We may also use a prospectus supplement and any related free writing prospectus to add, update or change any of the
information contained in this prospectus or in documents we have incorporated by reference. This prospectus, together with any applicable
prospectus supplements, any related free writing prospectuses and the documents incorporated by reference into this prospectus, includes
all material information relating to this offering. To the extent that any statement that we make in a prospectus supplement is inconsistent
with statements made in this prospectus, the statements made in this prospectus will be deemed modified or superseded by those made in
a prospectus supplement. Please carefully read both this prospectus and any prospectus supplement together with the additional information
described below under the section entitled "Incorporation of Certain Information by Reference" before buying any of the securities
offered.
Unless otherwise indicated, information contained
in this prospectus or incorporated by reference herein concerning our industry and the markets in which we operate is based on information
from independent industry and research organizations, other third-party sources (including industry publications, surveys and forecasts),
and management estimates. Management estimates are derived from publicly available information released by independent industry analysts
and third-party sources, as well as data from our internal research, and are based on assumptions made by us upon reviewing such data
and our knowledge of such industry and markets, which we believe to be reasonable. Although we believe the data from these third-party
sources is reliable, we have not independently verified any third-party information. In addition, projections, assumptions and estimates
of the future performance of the industry in which we operate and our future performance are necessarily subject to uncertainty and risk
due to a variety of factors, including those described in "Risk Factors" and "Special Note Regarding Forward-Looking
Statements." These and other factors could cause results to differ materially from those expressed in the estimates made by the
independent parties and by us.
ii
PROSPECTUS SUMMARY
This summary highlights information contained
elsewhere in this prospectus and does not contain all of the information that you should consider in making your investment decision.
Before investing in our securities, you should carefully read this entire prospectus, including the information set forth under the headings
"Risk Factors" as included elsewhere in this prospectus and our financial statements and the related notes and the section
entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations," in our Annual Report
on Form 10-K/A for the year ended December 31, 2023, our Quarterly Report on Form 10-Q for the period ended March 31, 2024, and our Quarterly
Report on Form 10-Q for the period ended June 30, 2024, which are incorporated by reference herein.
Overview of Our Company
Reborn is focused on serving high quality, specialty-roasted
coffee at retail locations, kiosks and cafes. We are an innovative company that strives for constant improvement in the coffee experience
through exploration of new technology and premier service, guided by traditional brewing techniques. We believe Reborn differentiates
itself from other coffee roasters through its innovative techniques, including sourcing, washing, roasting, and brewing our coffee beans
with a balance of precision and craft.
Founded in 2015 by Jay Kim, our Chief Executive
Officer, Mr. Kim and his team launched Reborn with the vision of using the finest pure ingredients and pristine water. We currently serve
customers through our retail store locations in California, Korea, and Malaysia.
Reborn continues to elevate the high-end coffee
experience and we received first place traditional still in "America's Best Cold Brew" competition by Coffee Fest in
2017 in Portland and 2018 in Los Angeles.
The source of coffee is the pinnacle of specialty
coffee. The coffee industry has gone through various phases including the first, second, third, and fourth wave. In the first and second
waves of coffee, the single-origin source and type of the coffee is not necessarily in the forefront during the sourcing process. As such,
much of the coffee may be a blend with various sources and a mix of Robusta and Arabica coffee beans. The third wave of coffee focuses
on a single-origin source and one variety of coffee bean (specifically Arabica beans). Single-origin beans can focus on specific countries
and can also be hyper-focused on specific regions in the third wave of coffee, such as Coban in Guatemala. Arabia beans are considered
premier due to the specific requirements for growth and the high-quality flavor they produce. Arabica coffee is required to be grown in
higher, cooler elevations.
Differentiated from other coffee companies, the
Reborn Wash Process is the key to creating the clean flavor of our coffee. Our Wash Process is distinguished by the use of magnetized
water to wash our green coffee beans when they arrive at the Reborn facility, in order to extract impurities and enhance hydration before
the roasting process. Magnetizing water is a process that converts the particles of water, which can naturally appear in various sizes,
into evenly sized particles. As a result of this process, we believe that the water increases its hydration and ability to absorb into
organic material. Our water is created through a water magnetizing device in which water flows through the device and magnetizes the water
on-site immediately prior to use.
After the wash, we roast our washed-green beans
based on the profile of each single-origin. After the coffee beans are roasted, they are then packaged into various products such as whole
bean coffee, pour over packs, and cold brew packs. Additionally, whole bean inventory is also supplied to the kiosks and cafes. A portion
of the roasted coffee is also allotted to create our award-winning cold brew concentrate. Our cold brew production is created using a
proprietary percolation technique, also using magnetized water at each step to enhance the flavor of the cold brew.
We continually innovate the way we serve coffee.
At our cafes, we serve customers our award-winning coffee through cold brew taps in addition to freshly ground coffee beans in espresso-made
drinks. Other brew methods, such as an in-house pour over and drip coffee, are also available.
1
The Experience, Reborn
We believe that we are the leading pioneers of
the emerging "Fourth Wave" movement and that our business is redefining specialty coffee as an experience that demands much
more than premium quality. We consider ourselves leaders of the "Fourth Wave" coffee movement because we are constantly developing
our bean processing methods, researching design concepts, and reinventing new ways of drinking coffee. For instance, the current transition
from the K-Cup trend to the pour over drip concept allowed us to reinvent the way people consume coffee, by merging convenience and quality.
We took the pour over drip concept and made it available and affordable to the public through our Reborn Coffee pour over packs. Our pour
over packs allow our consumers to consume our specialty coffee outdoors and on-the-go.
Our success in innovating within the "Fourth
Wave" coffee movement is measured by our success in business to business ("B2B") sales with our introduction of pour
over packs to hotels. With the introduction of our pour over packs to major hotels (including one hotel company with seven locations),
our B2B sales increased as these companies recognized the convenience and functionality our pour over packs serve to their customers.
Centered around our core values of service, trust,
and well-being, we deliver an appreciation of coffee as both a science and an art. Developing innovative processes such as washing green
coffee beans with magnetized water, we challenge traditional preparation methods by focusing on the relationship between water chemistry,
health, and flavor profile. Leading research studies, testing brewing equipment, and refining roasting/brewing methods to a specific,
we proactively distinguish exceptional quality from good quality by starting at the foundation and paying attention to the details. Our
mission places an equal emphasis on humanizing the coffee experience, delivering a fresh take on "farm-to-table" by sourcing
internationally. In this way, we create opportunities to develop transparency by paying homage to origin stories and spark new conversations
by building cross-cultural communities united by a passion for the finest coffee.
Through a broad product offering, Reborn provides
customers with a wide variety of beverages and coffee options. As a result, we believe we can capture share of any experience where customers
seek to consume great beverages whether in our inviting store atmospheres which are designed for comfort, or on the go through our pour
over packs, or at home with our whole bean ground coffee bags. We believe that the retail coffee market in the United States is large
and growing. According to IBIS, in 2023, the retail market for coffee in the United States was $72.1 billion. This is expected to grow
due to a shift in consumer preferences to premium coffee, including specialized blends, espresso-based beverages, and cold brew options.
Reborn aims to capture a growing portion of the market as we expand and increase consumer awareness of our brand.
Branding
Reborn Coffee focuses
on two key features in our branding, including "Introducing the Fourth Wave" and "America's Best Cold Brew."
These phrases encapsulate the quality of the Reborn Process of sourcing, washing, roasting, and brewing coffee and the quality of the
product that we create.
The Reborn brand is essential
to our marketing strategy, as it allows us to stand out compared to our competitors. The products aim to make customers feel "reborn"
after drinking a cup of coffee.
Our Menu and Products
We purchase and roast
high-quality coffees that we sell, along with handcrafted coffee, tea and other beverages and a variety of high-quality food items. We
believe in offering customers the same great taste and quality whether served in store or on the go. We also partner with third-party
importers and exporters to purchase and import our green coffee beans. Through these relationships, we source high-quality coffee beans
from across the globe, including Mexico, Ethiopia, Colombia, Guatemala, Brazil, and Honduras.
Franchise Operations
In January 2021, we formed
Reborn Coffee Franchise LLC in the State of California with the intention of franchising Reborn Coffee retail stores and kiosks. We expect
to begin franchise sales in 2025. We plan to charge future franchisees a non-refundable franchise fee and certain marketing and royalty
fees based on gross sales, however we presently have no contractual commitments or other agreements to do so. We believe that our team's
prior experience building a large, global foodservice business will allow us to rapidly scale our future franchise effort. In addition,
we have formed a franchise council consisting of a team of franchise experts to advise us. We plan to eventually expand beyond California
to additional states to create a national and global presence.
2
Expanding Sales Channels
Today, we sell a variety
of our coffee and tea products through the enterprise, or commercial, channel, which we refer to as "B2B," as well as direct-to-consumer
via our website. We expect to increase our channel presence by increasing the availability of Reborn Coffee in businesses and enterprises,
and expand upon the partnerships we have in place with hotel operators to increase the use and brand awareness in hospitality. We also
expect to grow our online sales through new partnerships with third-party retailers. Our products are available in various form factors,
such as whole bean roasted coffee bags, single-serve drip bags, and our Pour Over Packs. We are exploring partnerships with grocery operators
and foodservice providers to expand the Reborn Coffee brand.
Experienced Leadership
Team
Our relentless commitment
to excellence is driven by our passionate management team under the leadership of our Founder and Chief Executive Officer, Jay Kim. Mr.
Kim launched Reborn with the vision to provide the best coffee using the purest ingredients. He is focused on the expansion of Reborn
and has surrounded himself with leaders that have direct experience in beverage and retail. Stephan Kim, our Chief Financial Officer,
has 20 years of experience in public accounting and consulting. Other members of our executive leadership team bring high growth, franchise,
and sector expertise.
Our Commitment to
Our Team
We also believe in mentoring
the developing the next generation of premium coffee baristas. Through our in-depth training, we aim to train dedicated employees who
understand the science and art behind every cup of coffee. We also expect to form a training school specializing in creating passionate
baristas and coffee connoisseurs, by educating our students about coffee processes and preparation methods. The efforts for the training
school are underway and we expect to launch the program in 2025.
Our Highly Engaged
Customers
Our customers are loyal
to our brand due to our intense focus on premium coffee and customer service. Community engagement is another essential element of our
in-person marketing strategy. We host on-site engagements, such as event sponsorships, and engage with local Chambers of Commerce. We
previously worked with Lululemon to host yoga sessions outside of our retail locations, creatively engaging the community while simultaneously
promoting Reborn as an active lifestyle. We have also hosted pop-up locations on the Facebook campus, further expanding our outreach and
introducing our brand name to different communities. We further engage with the community by organizing our own latte art competitions,
in which baristas can compete for prizes and customers in the audience can witness our competitive passion.
Digital
Channels
We focus on many digital
channels in our marketing strategy. Social media is an important leg that creates engagement and education of the Reborn brand. Customers
primarily engage the brand on Instagram, where we host giveaways, share new store openings, and promote seasonal menus. Through our unique,
modern aesthetic and intense focus on high-quality coffee, we are able to share the quality and essence of Reborn on display inside of
our retail locations with existing and future customers on social media platforms.
For both the in-store
café channel and the e-commerce channel, SMS & email marketing are used for reengagement and communication of new products
and offerings.
Digital advertising channels
are also used, primarily to engage the online market audience. Google and Facebook are the primary paid ad channels that we currently
utilize. Yelp advertising is also used to engage local customers and tourists who visit specific areas where our retail locations are
located.
3
In-Person
Marketing Engagement
Engaging customers in-store
with a marketing plan is essential for customer retention and new customer generation. Our customer loyalty program provides free drinks
for every ten drinks purchased. Additionally, store customers may participate in promotional deals, especially during the holidays and
new item releases, to try new innovative items created in-house. We also offer coffee samples of our Pour Over Packs as well as new beans
to our retail location customers. The distribution of coffee samples has expanded customers' knowledge of our products and led to
increased whole bean sales.
Our locations are located
in heavily trafficked areas as well as popular malls. As such, the potential for marketing and branding is very high in these locations.
Signage and promotional deals with giveaways are essential to attracting new customers.
Growth Strategies
Corporate and Franchise
Expansion
We also plan to expand across the Unites States
with company operated locations and franchise locations. We aim to accelerate our growth through our franchise program. We plan to continue
to innovate in the coffee industry by making the industry more personal to the consumers, prospective franchisees, and employees. We plan
to achieve our goal through the continued innovation in our products, sourcing directly from farms, and giving customers choices in how
their coffee is served to them. As we expand, we hope to show the world that expanding in volume and size does not diminish the quality
and personal element that is instilled in the coffee industry.
We have started to scale our logistics and supply
chain to provide support for our rapid growth, including for our future franchisees. We have increased roasting capacity and our paper
goods supplies, including an emphasis on eco-friendly products.
B2B Strategy
We believe our products are unique given their
potential to engage with business partners for large wholesale orders. We have built strong relationships with hotel management companies
within California and out-of-state. We currently work with several hotels, providing our Pour Over Packs and cold brew packs to cater
to their customer needs. We plan to continue growing our B2B marketing and sales strategy through active outreach and advertising to potential
partners. We believe that access to large-scale distribution channels such as hotels increases consumer awareness of our brand while providing
us access to large enterprise customers. Gift giving comprises a large percentage of our winter B2B sales. During the holidays, our B2B
marketing strategy focuses on targeting companies, and specific teams within companies, that are seeking to provide end of the year gifts
to their clients and customers. We provide customized gift sets to each customer's needs. Word-of-mouth marketing has grown our
B2B holiday gift giving accounts greatly, forging opportunities to have worked with companies like Google to provide gift sets for their
clients. We plan to expand not only by growing our retail location footprint, but also through the development of more hotel partnerships,
expansion into grocery stores and markets, and expansion of our e-commerce and wholesale.
We believe the grocery market is another major channel through which
we hope to access in the future. Through both bulk sales of roasted beans and in-store kiosks, as well sales of pre-packaged products,
we may be able to access customers who purchase both in volume and for those customers looking for a handcrafted beverage during their
in-store shopping experience. We are exploring discussions with a variety of retailers and expect to access these additional sales channels
in 2025.
Legal Proceedings
We are subject to various legal proceedings from
time to time as part of its business. We are not presently a party to any legal proceedings that, if determined adversely to us, we believe
would individually or in the aggregate have a material adverse effect on our business, results of operations, financial condition, or
cash flows. However, legal proceedings are inherently uncertain. As a result, the outcome of a particular matter or a combination of matters
may be material to our results of operations for a particular period, depending upon the size of the loss or our income for that particular
period.
Employees and Human Capital
As of the date of this prospectus, we had 19 full-time
employees and 89 part-time employees.
4
Properties
We have
a production and distribution center at our headquarters that we use to process and roast coffee for wholesale and retail distribution
at 580 N. Berry Street, Brea, California 92821.
We consider our current office space adequate for our current operations.
As of the date of this prospectus, we have 12
retail coffee locations:
●
Brea, California;
●
La Crescenta, California;
●
Corona Del Mar, California;
●
Laguna Woods, California;
●
Manhattan Beach, California;
●
Huntington Beach, California;
●
Riverside, California;
●
Irvine, California;
●
Diamond Bar, California;
●
Anaheim, California;
●
Daejeon, Korea; and
●
Kuala Lumpur, Malaysia.
Corporate Information
Our principal executive
offices are located at 580 N. Berry Street, Brea, California 92821. Our telephone number is (714) 784-6369. Our website address is
www.reborncoffee.com
.
Any information contained on, or that can be accessed through, our website is not incorporated by reference into, nor is it in any way
part of this prospectus and should not be relied upon in connection with making any decision with respect to an investment in our securities.
Available Information
We are required to file annual, quarterly, and
current reports, proxy statements, and other information with the SEC. You may obtain any of the documents filed by us with the SEC, at
no cost from the SEC's website at www.sec.gov.
Implications of Being a Smaller Reporting Company
To the extent that we continue to qualify as a
"smaller reporting company," as such term is defined in Rule 12b-2 under the Exchange Act, we will continue to be permitted
to make certain reduced disclosures in our periodic reports and other documents that we file with the SEC.
Initial Public Offering
In August 2022, we consummated our initial public
offering (the "IPO") of 1,440,000 shares of our common stock at a public offering price of $5.00 per share, generating gross
proceeds of $7,200,000. Net proceeds from the IPO were approximately $6,200,000 after deducting underwriting discounts and commissions
and other offering expenses of approximately $998,000. On August 12, 2022, our stock began trading on the Nasdaq Capital Market under
the symbol "REBN."
Reverse Stock Split
On January 12, 2024, we filed a Certificate of
Amendment to our Certificate of Incorporation to effect a reverse stock split of our issued common stock in the ratio of 1-for-8 (the
"Reverse Stock Split"). Our common stock began trading on the Nasdaq Capital Market on a Reverse Stock Split-adjusted basis
at the market open on Monday, January 22, 2024. Unless otherwise noted, all share and per share information relating to our common stock
in this prospectus has been adjusted to reflect the Reverse Stock Split.
5
THE OFFERING
Common Stock Offered
Up to [   ] shares of common stock based on an assumed public offering price of $[   ] per share of common stock, which is the closing price of our common stock on Nasdaq on [   ], 2024.
Shares of Common Stock Outstanding Prior to this Offering
3,672,564 shares
Shares of Common Stock Outstanding After this Offering
[   ] shares (assuming we sell only shares of common stock and no pre-funded warrants and assuming no exercise of such pre-funded warrants)
Pre-Funded Warrants Offered
We are also offering to certain purchasers whose purchase of shares of common stock in this offering would otherwise result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock immediately following the consummation of this offering, the opportunity to purchase, if such purchasers so choose, pre-funded warrants to purchase shares of common stock, in lieu of shares of common stock that would otherwise result in any such purchaser's beneficial ownership exceeding 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock. Each pre-funded warrant will be exercisable for one share of our common stock. The purchase price of each pre-funded warrant will equal the price at which the shares of common stock are being sold to the public in this offering, the exercise price of each pre-funded warrant of $0.0001 per share. The pre-funded warrants will be exercisable immediately and may be exercised at any time until all of the pre-funded warrants are exercised in full. This offering also relates to the shares of common stock issuable upon exercise of any pre-funded warrants sold in this offering. For each pre-funded warrant we sell, the number of shares of common stock we are offering will be decreased on a one-for-one basis.
Use of Proceeds
We intend to use the proceeds from this offering for working capital, strategic and general corporate purposes. (See "Use of Proceeds.").
Lock-Up Agreements
We and our directors, officers, and certain of our principal shareholders have agreed not to offer for sale, issue, sell, contract to sell, pledge, or otherwise dispose of any of our shares of common stock or securities convertible into shares of common stock for a period of 180 days after the closing of the offering. (See "Plan of Distribution.")
Risk Factors
An investment in our securities is highly speculative and involves substantial risk. Please carefully consider the risks described under the heading "Risk Factors" and other information included and incorporated by reference in this prospectus for a discussion of factors to consider before deciding to invest in the securities offered hereby. Additional risks and uncertainties not presently known to us or that we currently deem to be immaterial may also impair our business and operations.
Transfer Agent and Registrar
The registrar and transfer agent for our common stock is Securities Transfer Corporation. The transfer agent's address is 15500 Roosevelt Blvd, Suite 104, Clearwater, Florida 33760 and the telephone number is (469) 633-0101.
Nasdaq Symbol and Trading
Our shares of common stock are listed on the Nasdaq Capital Market under the symbol "REBN." There is no established trading market for the pre-funded warrants, and we do not expect a trading market to develop. We do not intend to list the pre-funded warrants on any securities exchange or other trading market. Without a trading market, the liquidity of the pre-funded warrants will be extremely limited.
The outstanding share information in the table
above is based on 3,672,564 shares of our common stock outstanding as of October 31, 2024 and assumes no sale of any pre-funded warrants
and no exercise of such pre-funded warrants.
6
RISK FACTORS
An investment in our securities involves a
high degree of risk. Before deciding whether to invest in our securities, you should carefully consider the risks described below and
those discussed under the Section captioned "Risk Factors" contained in our Annual Report on Form 10-K/A for the year ended
December 31, 2023, as revised or supplemented by our subsequent quarterly reports on Form 10-Q or our current reports on Form 8-K, each
as filed with the SEC and which are incorporated by reference in this prospectus, together with other information in this prospectus,
the information and documents incorporated by reference herein, and in any free writing prospectus that we have authorized for use in
connection with this offering. If any of these risks actually occurs, our business, financial condition, results of operations or cash
flow could be seriously harmed. This could cause the trading price of our common stock to decline, resulting in a loss of all or part
of your investment. Please also read carefully the section below entitled "Special Note Regarding Forward-Looking Statements."
Risks Related to This Offering
An investment in our securities is speculative
and could result in a loss of your entire investment.
An investment in our securities is speculative
and involves a high degree of risk. There is no assurance that investors will obtain any return on their investment. You should not purchase
the securities if you cannot afford the loss of your entire investment.
This is a best efforts offering, no minimum
amount of securities is required to be sold, and we may not raise the amount of capital we believe is required for our business plans,
including our near-term business plans.
The placement agent has agreed to use its reasonable
best efforts to solicit offers to purchase the securities in this offering. The placement agent has no obligation to buy any of the securities
from us or to arrange for the purchase or sale of any specific number or dollar amount of the securities. There is no required minimum
number of securities that must be sold as a condition to completion of this offering. Because there is no minimum offering amount required
as a condition to the closing of this offering, the actual offering amount, placement agent fees, and proceeds to us are not presently
determinable and may be substantially less than the maximum amounts set forth above. We may sell fewer than all of the securities offered
hereby, which may significantly reduce the amount of proceeds received by us, and investors in this offering will not receive a refund
in the event that we do not sell an amount of securities sufficient to support our continued operations, including our near-term continued
operations. Thus, we may not raise the amount of capital we believe is required for our operations in the short-term and may need to raise
additional funds, which may not be available or available on terms acceptable to us.
There is no public market for the pre-funded
warrants being offered by us in this offering.
There is no established public trading market
for the pre-funded warrants and we do not expect a market to develop. In addition, we do not intend to apply to list the pre-funded warrants
on any national securities exchange or other nationally recognized trading system. Without an active market, the liquidity of the pre-funded
warrants is limited.
The pre-funded warrants are speculative
in nature.
The pre-funded warrants offered hereby do not
confer any rights of share of common stock ownership on their holders, such as voting rights or the right to receive dividends, but rather
merely represent the right to acquire shares of common stock at a fixed price. Specifically, commencing on the date of issuance, holders
of the pre-funded warrants may acquire the shares of common stock issuable upon exercise of such pre-funded warrants at an exercise price
of $0.0001 per share of common stock. Moreover, following this offering, the market value of the pre-funded warrants is uncertain and
there can be no assurance that the market value of the pre-funded warrants will equal or exceed their respective public offering prices.
There can be no assurance that the market price of the shares of common stock will ever equal or exceed the exercise price of the pre-funded
warrants, and consequently, whether it will ever be profitable for holders of the pre-funded warrants to exercise the pre-funded warrants.
7
Holders of the pre-funded warrants offered
hereby will have no rights as common stockholders with respect to the shares our common stock underlying the pre-funded warrants until
such holders exercise such pre-funded warrants and acquire our common stock, except as otherwise provided in the pre-funded warrants.
Until holders of the pre-funded warrants acquire
shares of our common stock upon exercise thereof, such holders will have no rights with respect to the shares of our common stock underlying
such pre-funded warrants, except to the extent that holders of such pre-funded warrants will have certain rights to participate in distributions
or dividends paid on our common stock as set forth in the pre-funded warrants. Upon exercise of the pre-funded warrants, the holders will
be entitled to exercise the rights of a common stockholder only as to matters for which the record date occurs after the exercise date.
Provisions of the pre-funded warrants offered
by this prospectus could discourage an acquisition of us by a third party.
Certain provisions of the pre-funded warrants
offered by this prospectus could make it more difficult or expensive for a third party to acquire us. Such pre-funded warrants prohibit
us from engaging in certain transactions constituting "fundamental transactions" unless, among other things, the surviving
entity assumes our obligations under the pre-funded warrants. This and other provisions of the pre-funded warrants offered by this prospectus
could prevent or deter a third party from acquiring us even where the acquisition could be beneficial to you.
We have broad discretion in the use of the
net proceeds from this offering and may not use them effectively.
Our management will have broad discretion in the
application of the net proceeds, including for any of the purposes described in the section of this prospectus. (See "Use of Proceeds.")
You will be relying on the judgment of our management with regard to the use of these net proceeds, and you will not have the opportunity,
as part of your investment decision, to assess whether the net proceeds are being used appropriately. The failure by our management to
apply these funds effectively could result in financial losses that could have a material adverse effect on our business, cause the price
of our securities to decline and delay the development of our product candidates. Pending the application of these funds, we may invest
the net proceeds from this offering in a manner that does not produce income or that loses value.
Risks Related to our Securities
It is not possible to predict the actual
number of shares we will sell under the SEPA to YA II PN, or the actual gross proceeds resulting from those sales.
We are party to a Standby Equity Purchase Agreement
with YA II PN, LTD ("YA II PN") dated February 12, 2024 (the "SEPA"). Pursuant to the SEPA, we may sell to YA
II PN up to $5,000,000 of shares of common stock (the "Advance Shares"), from time to time during the term of the SEPA. Subject
to certain limitations in the SEPA and compliance with applicable law, we have the discretion to deliver notices to YA II PN at any time
throughout the term of the SEPA. The actual number of shares of common stock are sold to YA II PN may depend based on a number of factors,
including the market price of our common stock during the sales period.
Because the price per share of each share sold
to YA II PN will fluctuate during the sales period, it is not currently possible to predict the number of shares that will be sold or
the actual gross proceeds to be raised in connection with those sales.
In addition, any issuance and sale by us under
the SEPA of a substantial amount of shares of common stock could cause additional substantial dilution to our stockholders.
We may require additional financing to sustain
our operations and without it we may not be able to continue operations.
Subject to the terms and conditions of the SEPA,
we may, at our discretion, direct YA II PN to purchase up to $5.0 million of shares of our common stock under the SEPA from time-to-time.
The purchase price per share for the shares of common stock that we may elect to sell to YA II PN under the SEPA will fluctuate based
on the market prices of our common stock for each purchase made pursuant to the SEPA, if any. Accordingly, it is not currently possible
to predict the number of shares that will be sold to YA II PN, the actual purchase price per share to be paid by YA II PN for those shares,
if any, or the actual gross proceeds to be raised in connection with those sales.
8
The extent to which we rely on YA II PN as a source
of funding will depend on a number of factors including, the prevailing market price of our common stock and the extent to which we are
able to secure working and other capital from other sources. If obtaining sufficient funding from YA II PN were to prove unavailable or
prohibitively dilutive, we may need to secure another source of funding in order to satisfy our working and other capital needs. Even
if we were to sell to YA II PN all of the shares of common stock available for sale to YA II PN under the SEPA, we may still need additional
capital to fully implement our business, operating and development plans. Should the financing we require to sustain our working capital
needs be unavailable or prohibitively expensive when we require it, the consequences may be a material adverse effect on our business,
operating results, financial condition and prospects.
Future sales and issuances of our common
stock or other securities might result in significant dilution and could cause the price of our common stock to decline.
To raise capital, we may sell common stock, convertible
securities or other equity securities in one or more transactions, at prices and in a manner we determine from time to time. We may sell
shares or other securities in another offering at a price per share that is less than the price per share paid by investors in this offering,
and investors purchasing shares or other securities in the future could have rights superior to existing stockholders. The price per share
at which we sell additional shares of our common stock, or securities convertible or exchangeable into common stock, in future transactions
may be higher or lower than the price per share paid by investors in this offering.
We cannot predict what effect, if any, sales of
shares of our common stock in the public market or the availability of shares for sale will have on the market price of our common stock.
However, future sales of substantial amounts of our common stock in the public market, including shares issued upon exercise of outstanding
options, warrants and convertible preferred shares, or the perception that such sales may occur, could adversely affect the market price
of our common stock.
The terms of our indebtedness, including
the covenants and the dates on which principal and interest payments on our indebtedness are due, increases the risk that we will be unable
to continue as a going concern.
As of December 31, 2023, and June 30, 2024 we
had $1.48 million, and $1.57 million, respectively, in outstanding short-term borrowing. In addition, on May 20, 2024, we issued a note
which has a principal balance of $800,000 and, beginning on August 15, 2024, it required monthly principal and interest payments in excess
of $266,667. On August 29, 2024, we issued another note which has a principal balance of $500,000. The terms of our indebtedness, including
the covenants and the dates on which principal and interest payments on our indebtedness are due, increases the risk that we will be unable
to continue as a going concern. To continue as a going concern over the next 12 months, we must make payments on our debt as they come
due and comply with the covenants in the agreements governing our indebtedness or, if we fail to do so, to (i) negotiate and obtain waivers
of or forbearances with respect to any defaults that occur with respect to our indebtedness, (ii) amend, replace, refinance, or restructure
any or all of the agreements governing our indebtedness, and/or (iii) otherwise secure additional capital. However, we cannot provide
any assurances that we will be successful in accomplishing any of these plans.
Due to the implementation of the Reverse
Stock Split, the liquidity of our common stock may be adversely effected.
Our common stock began trading on Nasdaq on a
Reverse Stock Split-adjusted basis beginning on January 22, 2024. The liquidity of the shares of our common stock may be affected adversely
by any reverse stock split given the reduced number of shares of our common stock that are outstanding following the Reverse Stock Split,
especially if the market price of our common stock does not increase as a result of the Reverse Stock Split. Following the Reverse Stock
Split, the resulting market price of our common stock may not attract new investors and may not satisfy the investing requirements of
those investors. Although we believe that a higher market price of our common stock may help generate greater or broader investor interest,
there can be no assurance that the Reverse Stock Split resulted in a share price that will attract new investors, including institutional
investors. In addition, there can be no assurance that the market price of our common stock will satisfy the investing requirements of
those investors. As a result, the trading liquidity of our common stock may not necessarily improve.
9
If we are unable to satisfy the applicable
continued listing requirements of Nasdaq, our common stock could be delisted.
On June 21, 2024, we received a written notice
(the "Notice") from the Listing Qualifications Department of Nasdaq indicating that Nasdaq had determined that we had failed
to comply with certain Nasdaq Listing Rules
because we had not yet filed our Quarterly Report on
Form 10-Q for the fiscal quarter ended March 31, 2024
.
As previously
announced, on May 15, 2024, we were required to dismiss BF Borgers CPA PC as our independent registered public accounting firm. We had
to appoint a new independent registered public accounting firm in order to complete and file the Form 10-Q, and on May 14, 2024, the Audit
Committee approved the engagement of BCRG Group ("BCRG") as our new independent registered public accounting firm. Due to
the timing of the appointment of BCRG, we were unable without unreasonable effort and expense to complete the review of our financial
statements for the quarter ended March 31, 2024 before the required filing date for the Quarterly Report on Form 10-Q.
A Nasdaq
Hearings Panel (the "Panel") had previously placed us on a Discretionary Panel Monitor for a period of one year, or until
May 16, 2025, after we regained compliance with previous Nasdaq listing deficiencies, which would require Nasdaq to issue a Delist Determination
Letter in the event that we failed to maintain compliance with any continued listing requirement (the "Panel Monitor"). Due
to the Panel Monitor, we requested an appeal of determination to the Panel, and request a stay of the suspension pending a hearing. On
July 19, 2024, we filed our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024.
Although we anticipate complying with Nasdaq's
Listing Rules going forward, there can be no assurance that we will be able to meet continued listing requirements in the future. In determining
whether to afford a company a cure period prior to commencing suspension or delisting procedures, Nasdaq analyzes all relevant facts including
any past deficiencies, and thus our prior deficiencies could be used as a factor by Nasdaq in any future decision to delist our securities
from trading on its exchange.
If our common
stock is delisted, it could reduce the price of our common stock and the levels of liquidity available to our stockholders. In addition,
the delisting of our common stock could materially adversely affect our access to the capital markets and any limitation on liquidity
or reduction in the price of our common stock could materially adversely affect our ability to raise capital. Delisting from Nasdaq could
also result in other negative consequences, including the potential loss of confidence by suppliers, customers and employees, the loss
of institutional investor interest, and fewer business development opportunities.
10
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This prospectus contains
various forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which
represent our expectations or beliefs concerning future events that are based on our management's beliefs and assumptions and on
information currently available to management, and which statements involve substantial risk and uncertainties. All statements contained
in this prospectus other than statements of historical fact, including statements regarding our future operating results and financial
position, our business strategy and plans, market growth and trends, and objectives for future operations are forward-looking statements.
Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can
identify forward-looking statements because they contain words such as "may," "should," "expects,"
"plans," "anticipates," "could," "intends," "target," "projects,"
"contemplates," "believes," "estimates," "predicts," "potential," or "continue"
or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions.
These risks and uncertainties
include, among other things:
●
our ability to continue as a going concern;
●
our reliance on third party vendors;
●
our dependence on our executive officers;
●
our financial performance guidance;
●
material weaknesses in our internal control over financial reporting;
●
regulatory developments in the United States and foreign countries;
●
the impact of laws, regulations, accounting standards, regulatory requirements, judicial decisions and guidance issued by authoritative bodies;
●
our estimates regarding expenses, future revenue and cash flow, capital requirements and needs for additional financing;
●
our financial performance; and
●
the ability to recognize the anticipated benefits of our business combination and/or divestitures.
You should not rely upon forward-looking statements
as predictions of future events. We have based the forward-looking statements contained in this prospectus primarily on our current expectations
and projections about future events and trends that we believe may affect our business, financial condition, results of operations, and
prospects. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, and other factors
described elsewhere in this prospectus and in the section titled "Risk Factors" and elsewhere in our Annual Report on Form
10-K/A for the year ended December 31, 2023.
11
USE OF PROCEEDS
We estimate that the net proceeds from this offering
will be approximately $[   ], assuming a public offering price per share of common stock of $[   ], the closing price of our common stock
on Nasdaq on [   ], 2024, after deducting the placement agent fees and estimated offering expenses payable by us, assuming the sale of all
of the securities offered under this prospectus and no sale of any fixed combinations of pre-funded warrants offered hereunder. Because
this is a best efforts offering and there is no minimum offering amount required as a condition to the closing of this offering, the actual
offering amount, the placement agent's fees, and net proceeds to us are not presently determinable and may be substantially less
than the maximum amounts set forth on the cover page of this prospectus.
We intend to use any proceeds from this offering
for working capital, strategic and general corporate purposes.
The expected use of net proceeds from this offering
represents management's estimates based upon current business and economic conditions. The amounts and timing of our actual use
of net proceeds will vary depending on numerous factors. As a result, management will have broad discretion in the application of the
net proceeds, and investors will be relying on our judgment regarding the application of the net proceeds of this offering. Although we
do not contemplate changes in the proposed use of proceeds, to the extent we find that adjustment is required for other uses by reason
of existing business conditions, the use of proceeds may be adjusted. We reserve the right to use the net proceeds we receive in the offering
in any manner we consider to be appropriate, which could differ materially from those outlined above as a result of several factors including
those set forth under "Risk Factors" and elsewhere in this prospectus.
We will incur all costs associated with this prospectus
and the registration statement of which it is a part.
12
MARKET FOR COMMON STOCK AND DIVIDEND POLICY
Market Information and Number of Stockholders
Our common stock is listed on the Nasdaq Capital
Market under the symbol "REBN." The last reported closing price for our common stock on Nasdaq on [   ], 2024 was $[   ] per share.
As of October 31, 2024, there were 3,672,564 of
our shares of common stock issued and outstanding held by approximately 198 stockholders of record. The number of record holders was determined
from the records of our transfer agent and does not include beneficial owners of shares of common stock whose shares are held in the names
of various security brokers, dealers, and registered clearing agencies.
Dividend Policy
We have never declared or paid any cash dividends
on our capital stock. We currently intend to retain all available funds and future earnings, if any, for the operation and expansion of
our business and do not anticipate declaring or paying any dividends in the foreseeable future. Any future determination related to our
dividend policy will be made at the discretion of our board of directors after considering our financial condition, results of operations,
capital requirements, business prospects and other factors the board of directors deems relevant, and subject to the restrictions contained
in any financing instruments. Our ability to declare dividends may also be limited by restrictive covenants pursuant to any other future
debt financing agreements.
13
CAPITALIZATION
The following table sets forth our actual cash
and cash equivalents and our capitalization as of June 30, 2024:
●
on an actual basis;
●
on an as adjusted basis to
give effect to the events above and the issuance and sale of [   ] shares of our common stock at an assumed purchase price
of $[   ] and assumes no issuance of the pre-funded warrants.
You should read this information in conjunction
with "
Management's Discussion and Analysis of Financial Condition and Results of Operations
" and our consolidated
financial statements and related notes for the three-month period ended June 30, 2024, included in our Quarterly Report on Form 10-Q for
the three-month period ended June 30, 2024, which is incorporated by reference herein.
As of June 30, 2024
(unaudited)
(in thousands)
Actual
As adjusted
Cash and Cash Equivalents:
$
617,051
$
Total Current Liabilities:
3,711,482
Total Long-Term Liabilities:
4,274,836
Stockholders' Equity (Deficit):
Common Stock - $0.0001 par value per share; 40,000,000 authorized shares; 3,235,657 shares issued and outstanding at June 30, 2024
324
Additional paid in capital
21,603,006
Accumulated deficit
(19,064,080
)
([   ]
)
Accumulated other comprehensive income (loss)
3,438
Total stockholders' equity
2,542,688
The as adjusted information discussed above is
illustrative only.
The total number of shares of our common stock
reflected in the discussion and table above is based on 3,235,657 shares outstanding as of June 30, 2024.
14
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
AND MANAGEMENT
The following table sets
forth certain information regarding the ownership of our common stock as of October 31, 2024 (the "Determination Date") by:
(i) each current director of our company; (ii) each of our Named Executive Officers ("NEOs"); (iii) all current executive
officers and directors of our company as a group; and (iv) all those known by us to be beneficial owners of more than five percent of
our common stock.
Beneficial ownership
and percentage ownership are determined in accordance with the rules of the SEC. Under these rules, beneficial ownership generally includes
any shares as to which the individual or entity has sole or shared voting power or investment power and includes any shares that an individual
or entity has the right to acquire beneficial ownership of within 60 days of the Determination Date, through the exercise of any option,
warrant or similar right (such instruments being deemed to be "presently exercisable"). In computing the number of shares
beneficially owned by a person and the percentage ownership of that person, shares of our common stock that could be issued upon the exercise
of presently exercisable options and warrants are considered to be outstanding. These shares, however, are not considered outstanding
as of the Determination Date when computing the percentage ownership of each other person.
To our knowledge, except
as indicated in the footnotes to the following table, and subject to state community property laws where applicable, all beneficial owners
named in the following table have sole voting and investment power with respect to all shares shown as beneficially owned by them. Percentage
of ownership is based on 3,672,564 shares of common stock outstanding as of the Determination Date. Unless otherwise indicated, the business
address of each person in the table below is c/o Reborn Coffee Inc., 580 N. Berry St. Brea, California 92821. To the best of our knowledge,
no shares identified below are subject to a pledge.
Number of Shares
Percentage of Shares
Name of Beneficial Owner
Beneficially Owned
Beneficially Owned
Directors and Named Executive Officers
Jay Kim, Chief Executive Officer and Director
410,834
11.2
%
Stephan Kim, Chief Financial Officer
87,190
2.4
%
Farooq M. Arjomand, Chairman of the Board
456,082
12.4
%
Dennis R. Egidi, Director
155,350
4.2
%
Sehan Kim, Director
47,786
1.3
%
Andy Nasim, Director
-
-
Jennifer Tan, Director
-
-
All directors, directors nominees and executive officers as a group (seven persons):
1,157,242
31.5
%
5% or Greater Stockholders
Scott Lee
444,445
12.1
%
From time to time, the number of our shares held
in "street name" accounts of various securities dealers for the benefit of their clients or in centralized securities depositories
may exceed 5% of the total shares of our common stock outstanding.
15
DESCRIPTION OF SECURITIES
For a description of our capital stock, including
our common stock and the material terms of our Articles of Incorporation, as amended, and Bylaws, as amended, see our Annual Report on
Form 10-K for the year ended December 31, 2023 filed with the SEC and Exhibit 4.3 thereto, entitled Description of Securities, and incorporated
by reference in this prospectus. For instructions on how to find copies of the filings incorporated by reference in this prospectus, see
"Where You Can Find More Information."
16
DESCRIPTION OF SECURITIES WE ARE OFFERING
We are offering up to [   ] shares of our common
stock. We are also offering up to [   ] pre-funded warrants to those purchasers whose purchase of shares of common stock in this offering
would result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the
election of the purchaser, 9.99%) of our outstanding shares of common stock following the consummation of this offering in lieu of the
shares of common stock that would result in such excess ownership. For each pre-funded warrant we sell, the number of shares of common
stock we are offering will be decreased on a one-for-one basis. Each pre-funded warrant will be exercisable for one share of common stock.
No warrant for fractional shares of common stock will be issued, rather warrants will be issued only for whole shares of common stock.
We are also registering the shares of common stock issuable from time to time upon exercise of the pre-funded warrants offered hereby.
Common Stock
The material terms and provisions of our common
stock are described under the caption "Description of Securities" in our Annual Report on Form 10-K/A for the year ended December
31, 2023 filed with the SEC and Exhibit 4.3 thereto, entitled Description of Securities, and incorporated by reference in this prospectus
Pre-funded Warrants
The following summary of certain terms and provisions
of the pre-funded warrants that are being offered hereby is not complete and is subject to, and qualified in its entirety by, the provisions
of the pre-funded warrant, the form of which will be filed as an exhibit to the registration statement of which this prospectus forms
a part. Prospective investors should carefully review the terms and provisions of the form of pre-funded warrant for a complete description
of the terms and conditions of the pre-funded warrants.
Duration and Exercise Price
Each pre-funded warrant offered hereby will have
an initial exercise price per share of common stock equal to $0.0001. The pre-funded warrants will be immediately exercisable and will
expire when exercised in full. The exercise price and number of shares of common stock issuable upon exercise is subject to appropriate
adjustment in the event of share dividends, share splits, reorganizations or similar events affecting our shares of common stock and the
exercise price.
Exercisability
The pre-funded warrants will be exercisable, at
the option of each holder, in whole or in part, by delivering to us a duly executed exercise notice accompanied by payment in full for
the number of shares of common stock purchased upon such exercise (except in the case of a cashless exercise as discussed below). A holder
(together with its affiliates) may not exercise any portion of the pre-funded warrant to the extent that the holder would own more than
4.99% of the outstanding shares of common stock immediately after exercise, except that upon at least 61 days' prior notice from
the holder to us, the holder may increase the amount of beneficial ownership of outstanding shares after exercising the holder's
pre-funded warrants up to 9.99% of the number of our shares of common stock outstanding immediately after giving effect to the exercise,
as such percentage ownership is determined in accordance with the terms of the pre-funded warrants.
Cashless Exercise
In lieu of making the cash payment otherwise contemplated
to be made to us upon such exercise in payment of the aggregate exercise price, the holder may elect instead to receive upon such exercise
(either in whole or in part) the net number of shares of common stock determined according to a formula set forth in the pre-funded warrants.
17
Fractional Shares
No fractional shares of common stock will be issued
upon the exercise of the pre-funded warrants. Rather, at our election, the number of shares of common stock to be issued will be rounded
up to the nearest whole number or we will pay a cash adjustment in an amount equal to such fraction multiplied by the exercise price.
Transferability
Subject to applicable laws, a pre-funded warrant
may be transferred at the option of the holder upon surrender of the pre-funded warrants to us together with the appropriate instruments
of transfer.
Trading Market
There is no trading market available for the pre-funded
warrants on any securities exchange or nationally recognized trading system, and we do not expect a trading market to develop. We do not
intend to list the pre-funded warrants on any securities exchange or nationally recognized trading market. Without a trading market, the
liquidity of the pre-funded warrants will be extremely limited. The shares of common stock issuable upon exercise of the pre-funded warrants
are currently traded on Nasdaq under the symbol "REBN."
Right as a Shareholder
Except as otherwise provided in the pre-funded
warrants or by virtue of such holder's ownership of shares of common stock, the holders of the pre-funded warrants do not have the
rights or privileges of holders of our shares of common stock, including any voting rights, until they exercise their pre-funded warrants.
The pre-funded warrants will provide that holders have the right to participate in distributions or dividends paid on our shares of common
stock.
Fundamental Transaction
In the event of a fundamental transaction, as
described in the pre-funded warrants and generally including any reorganization, recapitalization or reclassification of our shares of
common stock, the sale, transfer or other disposition of all or substantially all of our properties or assets, our consolidation or merger
with or into another person, the acquisition of more than 50% of our outstanding securities, or any person or group becoming the beneficial
owner of 50% of the voting power represented by our outstanding shares of securities, the holders of the pre-funded warrants will be entitled
to receive upon exercise of the pre-funded warrants the kind and amount of securities, cash or other property that the holders would have
received had they exercised the pre-funded warrants immediately prior to such fundamental transaction on a net exercise basis.
18
PLAN OF DISTRIBUTION
We engaged Dawson James Securities, Inc. ("Dawson"
or the "placement agent") to act as our exclusive placement agent to solicit offers to purchase the securities offered by
this prospectus on a reasonable best efforts basis. Dawson is not purchasing or selling any securities, nor are they required to arrange
for the purchase and sale of any specific number or dollar amount of securities, other than to use their "reasonable best efforts"
to arrange for the sale of the securities by us. Therefore, we may not sell the entire amount of securities being offered. There is no
minimum amount of proceeds that is a condition to closing of this offering. Dawson may engage one or more sub-placement agents or selected
dealers to assist with the offering. Investors purchasing securities offered hereby will have the option to execute a securities purchase
agreement with us. In addition to rights and remedies available to all investors in this offering under federal securities and state law,
the investors which enter into a securities purchase agreement will also be able to bring claims of breach of contract against us. The
ability to pursue a claim for breach of contract is material to larger investors in this offering as a means to enforce the following
covenants uniquely available to them under the securities purchase agreement.
We will deliver the securities being issued to
the investors upon receipt of such investor's funds for the purchase of the securities offered pursuant to this prospectus supplement.
We expect to deliver the securities being offered pursuant to this prospectus supplement on or about [   ], 2024.
Fees and Expenses
The following table shows the per share and per
pre-funded warrant, and total placement agent fees we will pay in connection with the sale of the securities in this offering.
Per Share of
Common
Stock
Per
Pre- Funded
Warrant
Total
Public offering price
$
$
$
Placement agent fees
$
$
$
Proceeds to us, before expenses
(1)
$
$
$
(1)
The amount of the offering proceeds to us presented in this table does not give effect to any exercise
of the pre-funded warrants being issued in this offering.
We have agreed to
pay the placement agent a total cash fee up to (i) 8.0% of the gross proceeds of this offering, provided that such commissions shall be
reduced to 3.5% if and to the extent any retail investors introduced to the offering by any officer and director of the Company. We will
also be responsible for any pay all expenses related to the offering, including (a) all filing fees and registration with the Commission,
(b) all FINRA and Nasdaq fees; (c) all blue sky fees; (d) the costs of mailing and printing, transfer and stamp taxes; and (e) fees
and expenses of our accountants and legal counsel. We estimate the total offering expenses of this offering that will be payable by us,
excluding the placement agent fees and expenses, will be approximately $[125,000]. After deducting the placement agent fees and our estimated
offering expenses, we expect the net proceeds from this offering to be approximately $[   ].
Lock-Ups
We have agreed that our directors and officers
will enter into customary "lock-up" agreements for a period of 180 days following the consummation of this offering that the
aforementioned parties will not, without the written consent of Dawson, (a) offer, sell, or otherwise transfer or dispose of, directly
or indirectly, any shares of capital stock or any securities convertible or exercisable or exchangeable for shares of capital stock of
the Company; or (b) file or cause to be filed any registration statement with the Commission relating to the offering of any shares of
capital stock of the Company or any securities convertible into or exchangeable for shares of capital stock of the Company.
19
Determination of Offering Price
The public offering price per share and the public
offering price per pre-funded warrant we are offering and the exercise prices and other terms of the pre-funded warrants were negotiated
between us and the investors, in consultation with the placement agent based on the trading of our common stock prior to this offering,
among other things. Other factors considered in determining the public offering prices of the securities we are offering and the exercise
prices and other terms of the pre-funded warrants include the history and prospects of our company, the stage of development of our business,
our business plans for the future and the extent to which they have been implemented, an assessment of our management, general conditions
of the securities markets at the time of the offering and such other factors as were deemed relevant.
Transfer Agent and Registrar
Our transfer agent and registrar is
Securities Transfer Corporation. The transfer agent's address is 15500 Roosevelt Blvd, Suite 104, Clearwater, Florida 33760 and
the telephone number is (469) 633-0101.
Listing
Our common stock is currently listed on Nasdaq
under the symbol "REBN." On [   ], 2024, the closing price per share of our common stock was $[   ]. There is no established public
trading market for the pre-funded warrants, and we do not expect such markets to develop. In addition, we do not intend to apply to list
the pre-funded warrants on any national securities exchange or other nationally recognized trading system. Without an active trading market,
the liquidity of the pre-funded warrants will be limited.
Indemnification
We have agreed to indemnify the placement agent
against certain liabilities, including certain liabilities arising under the Securities Act, or to contribute to payments that the placement
agent may be required to make for these liabilities.
Regulation M
The placement agent may be deemed to be an underwriter
within the meaning of Section 2(a)(11) of the Securities Act and any fees received by it and any profit realized on the sale of the securities
by it while acting as principal might be deemed to be underwriting discounts or commissions under the Securities Act. The placement agent
will be required to comply with the requirements of the Securities Act and the Exchange Act, including, without limitation, Rule 10b-5
and Regulation M under the Exchange Act. These rules and regulations may limit the timing of purchases and sales of our securities by
the placement agent. Under these rules and regulations, the placement agent may not engage in any stabilization activity in connection
with our securities; and (ii) bid for or purchase any of our securities or attempt to induce any person to purchase any of our securities,
other than as permitted under the Exchange Act, until they have completed their participation in the distribution.
Discretionary Accounts
The Placement Agent does not intend to confirm
sales of the securities offered hereby to any accounts over which it has discretionary authority.
20
Other Relationships
The Placement Agent and
certain of its affiliates are full service financial institutions engaged in various activities, which may include securities trading,
commercial and investment banking, financial advisory, investment management, investment research, principal investment, hedging, financing
and brokerage activities. The Placement Agent and certain of its affiliates have, from time to time, performed, and may in the future
perform, various commercial and investment banking and financial advisory services for us and our affiliates, for which they received
or will receive customary fees and expenses.
In the ordinary course of their various business
activities, the Placement Agent and certain of its affiliates may make or hold a broad array of investments and actively trade debt and
equity securities (or related derivative securities) and financial instruments (including bank loans) for their own account and for the
accounts of their customers, and such investment and securities activities may involve securities and/or instruments issued by us and
our affiliates. If the Placement Agent or its affiliates have a lending relationship with us, they routinely hedge their credit exposure
to us consistent with their customary risk management policies. The Placement Agent and its affiliates may hedge such exposure by entering
into transactions that consist of either the purchase of credit default swaps or the creation of short positions in our securities or
the securities of our affiliates, including potentially the common stock offered hereby. Any such short positions could adversely affect
future trading prices of the common stock offered hereby. The Placement Agent and certain of its affiliates may also communicate independent
investment recommendations, market color or trading ideas and/or publish or express independent research views in respect of such securities
or instruments and may at any time hold, or recommend to clients that they acquire, long and/or short positions in such securities and
instruments.
Electronic Offer, Sale, and Distribution
of Securities
A prospectus in electronic
format may be made available on the websites maintained by the placement agent, if any, participating in this offering and the placement
agent may distribute prospectuses electronically. Other than the prospectus in electronic format, the information on these websites is
not part of this prospectus or the registration statement of which this prospectus forms a part, has not been approved or endorsed by
us or the placement agent, and should not be relied upon by investors.
Offer and Sale Restrictions Outside the United
States
Other than in the United States, no action has
been taken by us or the placement agent 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 the 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.
21
MANAGEMENT
Current Directors and Executive Officers
The following table provides information regarding
our executive officers and members of our board of directors as of the date of the registration statement of which this prospectus is
a part:
Name
Age
Position
Executive Officers
Jay Kim
62
Chief Executive Officer and Director
Stephan Kim
48
Chief Financial Officer
Non-Employee Directors
Farooq M. Arjomand
66
Chairman of the Board of Directors and Independent Director
Dennis R. Egidi
74
Director
Sehan Kim
69
Independent Director
Andy Nasim
43
Independent Director
Jennifer Tan
56
Independent Director
Background of Executive Officers and Directors
Jay Kim, Chief Executive Officer and Director
Mr. Kim has served as our Chief Executive Officer
since our inception in 2014. On July 1, 2007, Mr. Kim founded Wellspring Industry, Inc., which created the yogurt distribution company,
"Tutti Frutti," and the bakery-café franchise, "O'My Buns." Tutti Frutti grew to approximately 700
agents worldwide that offered self-serve frozen yogurt. Mr. Kim sold the majority ownership of Wellspring to group of investors in 2017
to focus his efforts on Reborn Coffee.
Prior to beginning Wellspring, Mr. Kim was the
owner of Coffee Roasters in Riverside, California from 2002 through 2007. Mr. Kim worked as the project manager for JES Inc., based in
Brea, California from 1997 through 2002 where he coordinated and managed environmental engineering projects. Mr. Kim worked as a Senior
Process Engineer for Allied Signal Environment Catalyst in Tulsa, Oklahoma, from 1992 to 1997 where he coordinated and implemented projects
related to plant productivity. He also acted as the leader in start-up plant to be based in Mexico for Allied Signal. From 1988 to 1992
Mr. Kim worked as the plant start-up engineer for Toyota Auto Body Inc.
Mr. Kim has a B.S. in Chemical Engineering from
California State University at Long Beach and followed a Chemical office basic at U.S. Army Chemical School in 1988. He was commissioned
1st. LT. of the U.S. Army in 1986 and retired from the U.S. Army in 1988.
Stephan Kim, Chief Financial Officer
Mr. Kim has served as our full-time Chief Financial
Officer since June 26, 2022. Mr. Kim previously provided professional accounting and tax consulting services for nearly 20 years to various
clients in the consumer retail, healthcare, industrial manufacturing, and technology industries. Throughout his career as a public accountant,
controller, and banker in the United States and South Korea, Mr. Kim has obtained broad and in-depth expertise on international accounting,
finance, taxes, and Sarbanes-Oxley 404 compliance. Mr. Kim graduated from Sogang University in South Korea with a B.A. in Sociology and
Business in 2002 and earned a Master's degree in Professional Accountancy from Indiana University in 2005. Mr. Kim began his career
in 2002 as a banker with Shinhan Bank in South Korea. From 2005 to 2010, Mr. Kim was an Audit Manager at KPMG, Los Angeles office.
22
Non-Employee Directors
Farooq M. Arjomand, Chairman of the Board
of Directors
Farooq Arjomand has served as the Chairman of
the Board of Directors of Reborn Global since January 2015, and took over as the Chairman of the Board of Reborn Coffee Inc. on May 7,
2018. In 1984, he started his career as a banker with HSBC and gained experience across all departments—namely, private banking,
corporate finance, trade services, and investment banking. During his stint with HSBC, he also became the founding member of Amlak Finance
& Emmar Properties in 1997. Mr. Arjomand founded the Arjomand Group of companies in 2000 and has served as its chief executive officer
since that its inception. Based in Dubai, the Arjomand Group conducts various activities including real estate, manufacturing, trades,
financial activities, and aviation across the GCC, Asia, Europe, and the United States.
Mr. Arjomand has also served as the Chairman of
DAMAC Properties, a leading developer in the Middle East and as a board member of Al Ahlia Insurance Company BSC, Bahrain. Mr. Arjomand
also serves as Managing Partner of Barakat Group. Barakat Group has been involved in the manufacturing of juices and food stuffs for the
past 30 years. Mr. Arjomand is a citizen of the United Arab Emirates. He graduated with a Business Management degree from Seattle Pacific
University in Seattle, Washington.
Dennis R. Egidi, Director
Mr. Egidi is a licensed real estate broker in
the State of Illinois. Additionally, Mr. Egidi was awarded the CPM® designation through the Institute of Real Estate Management. He
holds a Bachelor's degree in civil engineering and attended graduate school in Civil Engineering at the University of Detroit.
Mr. Egidi joined as our Director and the Vice
Chairman of the Board of Directors in June 2020. Mr. Egidi formed DRE, Inc., an Illinois real estate development company in 1993, developing
over 30 affordable housing projects in Illinois, Ohio, Indiana, Iowa, and California, totaling approximately 5,000 units. Today, he continues
to serve as President of DRE, Inc., and acts as Managing General Partner of 15 limited partnerships, of which five have been redeveloped
over the past five years.
In addition, Mr. Egidi served as President and
Chairman of the board of Promex Midwest, a real estate property management firm. He has been involved in all phases of management in the
commercial, residential, and industrial building fields in the Midwest. Mr. Egidi has extensive knowledge and experience in the construction
industry, having served as Executive Vice President and Chief Estimator for Corbetta Construction Company of Illinois, and then for Contractors
and Engineers, Inc. During his 25 years of experience in the construction industry, he was involved in all types of projects ranging from
multifamily housing, historical rehabs, high-rise office buildings, and shopping centers.
Mr. Egidi and DRE also have experience in the
food service industry having developed fast food pizza stores in central Illinois under the Rocky Rococo brand in the 1980s. He was also
a principal partner in Cookie Associates of Houston, Texas. Cookie Associates owned and operated 34 "Great American Cookie"
stores and kiosks in the Houston market. Most recently, Mr. Egidi, as a principal of TF Investors LLC, was a franchisor of eight Tutti
Frutti Frozen Yogurt franchises located in France and England.
Sehan Kim, Director
Mr. Kim has been a Director of Reborn Global since
January 2015. Mr. Kim joined Magitech Incorporation in 2013 as Vice President of Operations. He oversees operations and management in
water and beverage businesses at Magitech Corporation. He led major projects at Magitech to install the enterprise resource planning ("ERP")
system and the cold brewed coffee extraction systems.
From 2005 through 2011, Mr. Kim was Senior Vice
President at Korean Air Co., Ltd. ("Korean Air"). He was the Head of the Aerospace Division at Korean Air. Prior to that,
Mr. Kim was vice president and general manager of the Commercial Aerostructure Businesses at Korean Air from 2001 through 2005, which
supplied various aircraft structural components to major commercial airplane manufacturers, including Airbus, Boeing, and Embraer.
From 1994 through 1997 Mr. Kim worked as a Korean
Air representative at Boeing in Seattle, Washington, and had on the job training in configuration management at Northrop Aircraft company
in Los Angeles, California for the Korean Fighter Coproduction Program in 1981. He joined Korean Air in August 1979 as an Aerospace structural
engineer. Mr. Kim studied Aerospace Engineering at Seoul National University in 1973 through 1977 and holds a Master's Degree in
business management from Busan National University.
23
Andy Nasim, Director
Mr. Nasim graduated with a Bachelor of Science
in Business with Information Technology from Staffordshire University, United Kingdom. He commenced his career in 2002 as a business development
manager with Kenanga Capital Sdn Bhd, the stockbroking lending division of Kenanga Investment Bank Berhad where he drove the credit business
of corporate banking, equity financing, and development of financing solutions through various structured financing products and Islamic
trade financing. He then became Head of Kenanga Private Equity division in 2010 where he was involved in strategic offshore merger and
acquisition for the group. He obtained extensive experience in the capital markets and financial services operations. From January 2017
to present, Mr. Nasim serves as CEO and Executive Director of the Wellspring Group; a company which owns the global trademark of a world-renowned
dessert brand. He oversees strategic planning and international brand expansion for the Group.
Jennifer Tan, Director
Ms. Tan has over 30 years' experience as
a global entrepreneur in diversified businesses in the United States, Europe and Asia. Since 2020, she has served as Chief Executive Officer
of Hawaii Volcano Tea LP, a tea farm with multiple locations in the Volcano area of Hawaii Island. From 2009 through 2019, Ms. Tan served
as Managing Director of Tutti Frutti (China) Limited, developing and executing marketing plans for Tutti Frutti Frozen Yogurt stores on
both corporate-owned and franchise retail stores in China, Hong Kong, and Macau. From 1997 through 2001, she served as the Managing Director
of International Golf & Yacht Club (Hong Kong) Limited and Mass Star Development Limited.
Family Relationships
There are no family relationships among any of our executive officers
or directors.
Board Composition
Our business and affairs are managed under the
direction of our board of directors, a majority of which are independent (i.e., Farooq M. Arjomand, Sehan Kim, Andy Nasim, and Jennifer
Tan). We have six directors with no vacancies. Our current directors will continue to serve as directors until their resignation, removal,
or successor is duly elected.
Our certificate of incorporation and our bylaws
permit our board of directors to establish the authorized number of directors from time to time by resolution. Each director serves until
the expiration of the term for which such director was elected or appointed, or until such director's earlier death, resignation
or removal.
Involvement in Certain Legal Proceedings
As of the filing of this the registration statement
of which prospectus is contained, there are no legal proceedings, and during the past ten years there have been no legal proceedings,
that are material to an evaluation of the ability or integrity of any of our directors, director nominees or executive officers.
Committees of Our Board of Directors
Our board of directors has established a compensation
committee and an audit committee. The composition and responsibilities of each of the committees of our board of directors are described
below. Members serve on these committees until their resignation or until otherwise determined by our board of directors. Our board of
directors may establish other committees as it deems necessary or appropriate from time to time.
Audit Committee
As of the date of this filing, our audit committee
consists of Farooq M. Arjomand, Sehan Kim, and Andy Nasim. Each member of our audit committee can read and understand fundamental financial
statements in accordance with applicable requirements. The chair of our audit committee is Farooq M. Arjomand, who our board of directors
has determined is an "audit committee financial expert" within the meaning of SEC regulations. In arriving at these determinations,
our board of directors has examined each audit committee member's scope of experience and the nature of their employment in the
corporate finance sector.
24
The principal duties and responsibilities of our audit committee include,
among other things:
●
hiring and selecting a qualified firm to serve as the independent registered public accounting firm to audit our financial statements;
●
helping to ensure the independence and performance of the independent registered public accounting firm;
●
helping to maintain and foster an open avenue of communication between management and the independent registered public accounting firm;
●
discussing the scope and results of the audit with the independent registered public accounting firm, and reviewing, with management and the independent registered public accounting firm, our interim and year-end operating results;
●
developing procedures for employees to submit concerns anonymously about questionable accounting or audit matters;
●
reviewing our policies on risk assessment and risk management;
●
reviewing related party transactions;
●
obtaining and reviewing a report by the independent registered public accounting firm at least annually, that describes its internal quality-control procedures, any material issues with such procedures, and any steps taken to deal with such issues when required by applicable law; and
●
approving (or, as permitted, pre-approving) all audit and all permissible non-audit services to be performed by the independent registered public accounting firm.
Our audit committee operates under a written charter
that satisfies the applicable listing standards of the Nasdaq Capital Market. A copy of our audit committee charter is available on our
website at www.reborncoffee.com.
Compensation Committee
Our compensation committee consists of Farooq
M. Arjomand, Sehan Kim, and Andy Nasim. The chair of our compensation committee is Andy Nasim.
The principal duties and responsibilities of our
compensation committee include, among other things:
●
approving the retention of compensation consultants and outside service providers and advisors;
●
reviewing and approving, or recommending that our board of directors approve, the compensation, individual and corporate performance goals and objectives and other terms of employment of our executive officers, including evaluating the performance of our chief executive officer and, with his assistance, that of our other executive officers;
●
reviewing and recommending to our board of directors the compensation of our directors;
●
administering our equity and non-equity incentive plans;
●
reviewing our practices and policies of employee compensation as they relate to alignment of incentives;
25
●
reviewing and evaluating succession plans for the executive officers;
●
reviewing and approving, or recommending that our board of directors approve, incentive compensation and equity plans; and
●
reviewing and establishing general policies relating to compensation and benefits of our employees and reviewing our overall compensation philosophy.
Our compensation
committee operates under a written charter that satisfies the applicable listing standards of the Nasdaq Capital Market. A copy of our
compensation committee charter is available on our website at
www.reborncoffee.com
.
Compensation Committee Interlocks
None of the members of the compensation committee
are currently, or have been at any time, one of our executive officers or employees. None of our executive officers currently serve, or
have served during the last year, as a member of the board of directors or compensation committee of any entity that has one or more executive
officers serving as a member of our board of directors or compensation committee.
Director Nominations
We do not have a standing nominating committee.
In accordance with the Nasdaq Stock Exchange corporate governance standards, a majority of the independent directors may recommend a director
nominee for selection by the board of directors. The board of directors believes that the independent directors can satisfactorily carry
out the responsibility of properly selecting or approving director nominees without the formation of a standing nominating committee.
As there is no standing nominating committee, we do not have a nominating committee charter in place.
The board of directors will also consider director
candidates recommended for nomination by our stockholders during such times as they are seeking proposed nominees to stand for election
at the next annual meeting of stockholders (or, if applicable, a special meeting of stockholders). Our stockholders that wish to nominate
a director for election to our board of directors should follow the procedures set forth in our bylaws.
We expect to expand our board of directors in
the future to include additional independent directors. In adding additional members to our board of directors, we will consider each
candidate's independence, skills and expertise based on a variety of factors, including the person's experience or background
in management, finance, regulatory matters and corporate governance. Further, when identifying nominees to serve as a director, we expect
that our board of directors will seek to create a board of directors that is strong in its collective knowledge and has a diversity of
skills and experience with respect to accounting and finance, management and leadership, vision and strategy, business operations, business
judgment, industry knowledge and corporate governance.
Code of Business Conduct and Ethics
On July 3, 2017, we adopted a Code of Business
Conduct and Ethics that applies to all our employees, officers and directors. This includes our principal executive officer, principal
financial officer and principal accounting officer or controller, or persons performing similar functions. The full text of our Code of
Business Conduct and Ethics is posted on our website at www.reborncoffee.com. We intend to disclose on our website any future amendments
of our Code of Business Conduct and Ethics or waivers that exempt any principal executive officer, principal financial officer, principal
accounting officer or controller, persons performing similar functions or our directors from provisions in the Code of Business Conduct
and Ethics. Information contained on, or that can be accessed through, our website is not incorporated by reference herein, and you should
not consider information on our website to be part of this prospectus.
Risk and Compensation Policies
We have analyzed our compensation programs and
policies to determine whether those programs and policies are reasonably likely to have a material adverse effect on us.
26
Compensation Philosophy
Our compensation philosophy includes:
●
pay for performance;
●
fair compensation that is competitive
with market standards;
●
compensation mix according
to growth stage of our company as well as job level; and
●
incentivizing employees to
work for long-term sustainable and profitable growth of our company.
Objective of Executive Compensation Program
The objective of our compensation program is to
provide a fair and competitive compensation package in the industry to each named executive officer ("NEO") that will enable
us to:
●
attract and hire outstanding
individuals to achieve our mid-term and long-term visions;
●
motivate, develop and retain
employees; and
●
align the financial interests
of each named executive officer with the interests of our stakeholders including stockholders and encourage each named executive officer
to contribute to enhance value of the Company.
Our named executive officers for the year 2023,
which consist of our principal executive officers, were:
●
Jay Kim, President and Chief
Executive Officer; and
●
Stephan Kim, Chief Financial
Officer.
Administration
Our Compensation Committee oversees our executive
compensation program and are responsible for approving the nature and amount of the compensation paid to our NEOs. The committee also
administers our equity compensation plan and awards.
Elements of Compensation
Our compensation program for NEOs consists of
the following elements of compensation, each described in greater depth below:
●
Base salaries;
●
Performance-based bonuses;
●
Equity-based incentive compensation; and
●
General benefits
Base Salary
Base salaries are an annual fixed level of cash
compensation to reflect each NEO's performance, role and responsibilities, and retention considerations.
27
Performance-Based Bonus
To incentivize management to drive strong operating
performance and reward achievement of our business goals, our executive compensation program includes performance-based bonuses for NEOs.
Our Compensation Committee has established annual target performance-based bonuses for each NEO during the first quarter of the fiscal
year.
Equity Compensation
We may pay equity-based compensation to our NEOs
in order to link our long-term results achieved for our stockholders and the rewards provided to NEOs, thereby ensuring that such NEOs
have a continuing stake in our long-term success.
General Benefits
Our NEOs are provided with other fringe benefits
that we believe are commonly provided to similarly situated executives.
Summary Compensation Table – Officers
The following table sets forth information concerning
the compensation of our named executive officers for the years ended December 31, 2023 and December 31, 2022.
Salary
Bonus
Stock
Awards
Option
Awards
Non-equity
Incentive plan
compensation
Change in
Pension
Value and
Nonqualified
deferred
compensation
All other
Compensation
Total
Name and principal position
Year
($)
($)
($)
($)
($)
($)
($)
($)
Jay Kim
Chief Executive Officer
2023
150,000
-0-
-0-
-0-
-0-
-0-
-0-
150,000
2022
144,000
200,000
-0-
-0-
-0-
-0-
-0-
344,000
Stephan Kim
Chief Financial Officer
2023
144,000
-0-
-0-
-0-
-0-
-0-
-0-
144,000
2022
83,000
-0-
56,000
-0-
-0-
-0-
-0-
139,000
Employment Agreements
Effective July 27, 2022, we executed an employment
agreement with Stephan Kim for Mr. Kim to serve as our full time Chief Financial Officer, effective immediately. Mr. Kim receives a monthly
payment of $12,000 ($144,000 annually) as compensation for his services, and we granted $56,000 worth of restricted stock units (RSUs),
which vested three months after employment and can be sold after one year. The employment agreement is an at-will agreement and is terminable
by either party at any time.
Except as set forth above we do not currently
have employment agreements with any of our NEOs
.
Outstanding Equity Awards at Fiscal Year-End
As of December 31, 2023, there were no outstanding equity awards for
each of the NEOs.
Director Compensation
No compensation was paid to our non-employee directors
for services rendered during the years ended December 31, 2023 and 2022.
28
LEGAL MATTERS
Certain legal matters in connection with this
offering, including the validity of the securities offered in this prospectus will be passed upon for us by FitzGerald Kreditor Bolduc
Risbrough LLP, Irvine, California. Certain other legal matters in connection with this offering will be passed upon for the placement
agent by ArentFox Schiff LLP, Washington, D.C.
CHANGE IN ACCOUNTANT
Change in Accountant
Effective May 7, 2024, we dismissed BF Borgers
PC ("BF Borgers") as our independent registered public accounting firm. On May 14, 2024, we engaged BCRG Group to replace
BF Borgers. The decision to change independent registered public accounting firms was directed and approved by our audit committee.
BF Borgers' audit reports on our consolidated
financial statements as of and for the fiscal years ended December 31, 2023 and December 31, 2022 did not contain an adverse opinion or
a disclaimer of opinion and were not qualified or modified as to audit scope or accounting principles.
During the fiscal years ended December 31, 2023
and 2022, and the subsequent interim period through the date of this report, there were no disagreements, as that term is defined in Item
304(a)(1)(iv) of Regulation S-K, between the Company and BF Borgers on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, which disagreements, if not resolved to BF Borgers' satisfaction, would have caused
BF Borgers to make reference to such disagreements in its audit reports.
During the fiscal years ended December 31, 2023
and 2022, and the subsequent interim period through the date of this report, there were no reportable events within the meaning of Item
304(a)(1)(v) of Regulation S-K.
Prior to retaining BCRG Group, we did not consult
with BCRG Group regarding either: (i) the application of accounting principles to a specified transaction, either contemplated or proposed,
or the type of audit opinion that might be rendered on our financial statements; or (ii) any matter that was the subject of a "disagreement"
or a "reportable event" (as those terms are defined in Item 304 of Regulation S-K).
The SEC has advised that, in lieu of obtaining
a letter from BF Borgers stating whether or not it agrees with the statements herein, we may indicate that BF Borgers is not currently
permitted to appear or practice before the SEC for reasons described in the SEC's Order Instituting Public Administrative and Cease-and-Desist
Proceedings Pursuant to Section 8A of the Securities Act of 1933, Sections 4C and 21C of the Securities Exchange Act of 1934 and Rule
102(e) of the Commission's Rules of Practice, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order, dated
May 3, 2024.
EXPERTS
Our consolidated balance sheets as of December
31, 2023 and the related consolidated statement of operations, stockholders' equity and cash flows for the year ended December 31,
2023 incorporated by reference in this prospectus have been audited by
BCRG Group
, independent
registered public accounting firm, as indicated in their report with respect thereto, and have been so included in reliance upon the report
of such firm given on their authority as experts in accounting and auditing.
Our consolidated balance sheets as of December
31, 2022 and the related consolidated statement of operations, stockholders' equity and cash flows for the year ended December 31,
2022 incorporated by reference in this prospectus have been audited by Kreit & Chiu CPA LLP, independent registered public accounting
firm, as indicated in their report with respect thereto, and have been so included in reliance upon the report of such firm given on their
authority as experts in accounting and auditing.
29
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
The SEC allows us to "incorporate by reference"
into this prospectus the information we file with the SEC, which means that we can disclose important information to you by referring
you to those documents. Any information referenced this way is considered to be part of this prospectus, and any information that we file
later with the SEC will automatically update and, where applicable, supersede this information. We incorporate by reference the following
documents that we have filed with the SEC (other than, in each case, documents or information deemed to have been furnished and not filed
in accordance with the SEC's rules):
●
our Annual Report on
Form 10-K
for the year ended December 31, 2023, filed with the Securities and Exchange Commission on March 28, 2024, as amended by our Annual Report on
Form 10-K/A
for the year ended December 31, 2023, filed with the Securities and Exchange Commission on July 8, 2024 and our Annual Report on
Form 10-K/A
for the year ended December 31, 2023, filed with the Securities and Exchange Commission on August 15, 2024;
●
our Quarterly Report on
Form 10-Q
for the quarter ended March 31, 2024, filed with the Securities and Exchange Commission on July 19, 2024;
●
our Quarterly Report on
Form 10-Q
for the quarter ended June 30, 2024, filed with the Securities and Exchange Commission on August 19, 2024;
●
our Current Reports on Form 8-K filed with the Securities and Exchange
    Commission on
January 10, 2024
,
January 16, 2024
,
February 6, 2024
,
February 12, 2024
,
February 29, 2024
,
March 28, 2024
,
April 23, 2024
,
May 7, 2024
,
May 15, 2024
,
May 23, 2024
,
June 26, 2024
,
August 29, 2024
,
September 13, 2024
, and
October 25, 2024
(other than
    information "furnished" under Items 2.02 or 7.01, or corresponding information furnished under Item 9.01 or included
    as an exhibit); and
●
the description of our common stock contained in our Annual Report on
Form 10-K/A
for the year ended December 31, 2023 filed with the SEC and
Exhibit 4.3
thereto, and any other amendment or report filed for the purpose of updating such description.
Additionally, all documents filed by us with the
SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act after (i) the date of the initial filing of the registration statement
to which this prospectus relates and prior to effectiveness of such registration statement, and (ii) the date of this prospectus and before
the termination or completion of any offering hereunder, shall be deemed to be incorporated by reference into this prospectus from the
respective dates of filing of such documents, except that we do not incorporate any document or portion of a document that is "furnished"
to the SEC, but not deemed "filed." We will not, however, incorporate by reference in this prospectus any documents or portions
thereof that are not deemed "filed" with the SEC, including any information furnished pursuant to Item 2.02 or Item 7.01 of
our current reports on Form 8-K unless, and except to the extent, specified in such current reports
Any information in any of the foregoing documents
will automatically be deemed to be modified or superseded to the extent that information in this prospectus or in a later filed document
that is incorporated or deemed to be incorporated herein by reference modifies or replaces such information.
The SEC maintains an internet website that contains
reports, proxy and information statements and other information regarding the issuers that file electronically with the SEC, including
the Company, and can be accessed free of charge on the SEC's website, www.sec.gov.
The documents incorporated by reference into this
prospectus are also available on our corporate website at www.reborncoffee.com. We will provide to each person, including any beneficial
owner, to whom a prospectus is delivered, a copy of any or all of the information that has been incorporated by reference in this prospectus
but not delivered with this prospectus. You may request a copy of this information at no cost, by writing or telephoning us at the following
address or telephone number:
Reborn Coffee, Inc.
Attention: Chief Financial Officer
580 N. Berry Street
Brea, CA 92821
(714) 784-6369
30
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 securities being offered by this prospectus. This prospectus does not contain
all of the information in the registration statement of which this prospectus is a part and the exhibits to such registration statement.
For further information with respect to us and the securities offered by this prospectus, we refer you to the registration statement of
which this prospectus is a part and the exhibits to such registration statement. Statements contained in this prospectus as to the contents
of any contract or any other document are not necessarily complete, and in each instance, we refer you to the copy of the contract or
other document filed as an exhibit to the registration statement of which this prospectus is a part. Each of these statements is qualified
in all respects by this reference.
The registration statement of which this prospectus
is a part is available at the SEC's website at www.sec.gov. You may also request a copy of these filings, at no cost, by writing
us at 580 N. Berry Street, Brea, CA 92821, Attention: Chief Financial Officer or telephoning us at (714) 784-6369.
We are subject to the information and reporting
requirements of the Exchange Act and, in accordance with this law, file periodic reports, proxy statements and other information with
the SEC. These periodic reports, proxy statements and other information are available at the SEC's website referred to above. We
also maintain a website at www.reborncoffee.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.
31
Up to [   ] Shares of Common Stock
Pre-Funded Warrants to Purchase up to [   ] Shares
of Common Stock
(and shares of Common Stock underlying the Pre-Funded
Warrants)
REBORN COFFEE, INC.
PRELIMINARY PROSPECTUS
DAWSON JAMES SECURITIES, INC.
The date of this prospectus is November 12, 2024
PART II — INFORMATION NOT REQUIRED IN
THE PROSPECTUS
Item 13. Other
Expenses of Issuance and Distribution.
The following table sets forth an estimate of
the fees and expenses relating to the issuance and distribution of the securities being registered hereby, all of which shall be borne
by the registrant. All of such fees and expenses, except for the Securities and Exchange Commission ("SEC") registration and
the FINRA filing fee, are estimated:
FINRA filing fee
$
[   ]
Nasdaq additional listing fee
$
[   ]
SEC registration fee
$
[   ]
Legal fees and expenses
$
[   ]
Printing fees and expenses
$
[   ]
Accounting fees and expenses
$
[   ]
Miscellaneous fees and expenses
$
[   ]
Total
$
[   ]
Item 14. Indemnification
of Directors and Officers.
Under Delaware law, a Delaware 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 (other than one by or in the right of the corporation) by reason
of the fact that the person 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, against judgments, fines, amounts paid in settlement
and reasonable expenses, including attorneys' fees actually and necessarily incurred as a result of such action or proceeding, if
such director or officer acted, in good faith, for a purpose which such person reasonably believed to be, in, or not opposed to, the best
interests of the corporation and, in criminal actions or proceedings, in addition, had no reasonable cause to believe that such conduct
was unlawful.
In the case of a derivative action, a Delaware
corporation may indemnify any such person against expense, including attorneys' fees actually and necessarily incurred by such person
in connection with the defense or settlement of such action or suit if such director or officer if such director or officer acted, in
good faith, for a purpose which such person reasonably believed to be, in or not opposed to, the best interests of the corporation, except
that no indemnification will be made in respect on any claim, issue or matter as to which such person will have been adjudged to be liable
to the corporation unless and only to the extent that the Court of Chancery of the State of Delaware or any other court in which such
action was brought determines such person is fairly and reasonably entitled to indemnity for such expense.
Delaware Law permits a corporation to include
in its certificate of incorporation a provision eliminating or limiting a director's liability to a corporation or its stockholders
for monetary damages for breaches of fiduciary duty. Delaware Law provides, however, that liability for breaches of the duty of loyalty,
acts or omissions not in good faith or involving intentional misconduct, or knowing violation of the law, and the unlawful purchase or
redemption of stock or payment of unlawful purchase or redemption of stock or payment of unlawful dividends or the receipt of improper
personal benefits cannot be eliminated or limited in this manner.
Our Certificate of Incorporation and Bylaws provide
that we will indemnify our directors to the fullest extent permitted by Delaware law and may, if and to the extent authorized by the Board
of Directors, indemnify our officers and any other person whom we have the power to indemnify against any liability, reasonable expense
or other matter whatsoever.
Any amendment, modification or repeal of the foregoing
provisions shall be prospective only, and shall not affect any rights or protections of any of our directors existing as of the time of
such amendment, modification or repeal.
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We may also, at the discretion of the Board of
Directors, purchase and maintain insurance to the fullest extent permitted by Delaware law on behalf of any of our directors, officers,
employees or agents against any liability asserted against such person and incurred by such person in any such capacity.
Insofar as indemnification for liabilities arising
under the Securities Act of 1933, as amended (the "Securities Act") may be permitted to directors, officers or persons controlling
the Registrant pursuant to the foregoing, the Registrant has 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
The following is a summary of all of our securities
sold by us within the past three years which were not registered under the Securities Act:
In November 2023, we entered into an exchange
agreement with an entity controlled by one of our directors whereby we issued
1,666,667 shares of
common stock in exchange for the surrender and termination of a promissory note in the amount of $1,000,000.
In January
2024, we sold 1,666,667 shares of common stock to one of our directors for an aggregate purchase price of approximately $1,000,000.
In February
2024, we entered into a Standby Equity Purchase Agreement ("SEPA") with
YA II PN, LTD. ("YA II PN")
whereby
we have the right to sell up to an aggregate of $5,000,000 of newly issued shares of common stock. We issued
64,656 shares of common
stock to YA II PN as an initial fee for commitment to purchase our shares of common stock under the SEPA.
In February
2024, we sold 444,445 shares of common stock to an accredited investor for an aggregate purchase price of approximately $1,000,000.
In May 2024,
we issued a convertible promissory note to
YA II PN with an initial principal amount of $800,000
,
which is convertible at an exercise price of $2.29 per share at
YA II PN
's option,
and a warrant to purchase 175,000 shares of common stock at an exercise price of $2.29 per share.
In May 2024,
we sold 181,819 shares of common stock to an accredited investor for an aggregate purchase price of approximately $500,000.
In June
2024, we sold 100,000 shares of common stock to an accredited investor for an aggregate purchase price of approximately $300,000.
In June
2024, we sold 100,000 shares of common stock to an accredited investor for an aggregate purchase price of approximately $300,000.
In May 2024,
we issued a convertible promissory note to
an accredited investor with an initial principal amount of $500,000
,
which is convertible at an exercise price of $3.36 per share at
the accredited investor's
option.
The issuances listed above were made in reliance
upon exemptions from registration under Section 3(a)(9) and/or Section 4(a)(2) of the Securities Act of 1933, as amended, and Regulation
D promulgated thereunder.
Item 16. Exhibits.
The list of exhibits in the Exhibit Index to this
registration statement is incorporated herein by reference.
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Item 17. Undertakings.
(a)
The undersigned registrant
hereby undertakes:
(1)
To file, during any period
in which offers or sales are being made, a post-effective amendment to this registration statement:
(i)
to include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;
(ii)
to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post- effective amendment thereof) that, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in the volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement; and
(iii)
to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;
provided
,
however
, that paragraphs
(a)(1)(i), (a)(1)(ii), and (a)(1)(iii) above do not apply if the information required to be included in a post-effective amendment by
those paragraphs is contained in reports filed with or furnished to the SEC by the registrant pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934, as amended (the "Exchange Act") that are incorporated by reference in the registration
statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is a part of the registration statement.
(2)
That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment 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.
(3)
To remove from registration by means of a post-effective amendment any of the securities being registered that remain unsold at the termination of the offering.
(4)
That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:
(i)
each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and
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(ii)
each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by Section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date.
(5)
That, for purposes of determining any liability under the Securities Act, each filing of the registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement 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.
(i)
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
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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 Brea, California, on November 12, 2024.
REBORN COFFEE, INC.
By:
/s/ Jay Kim
Jay Kim
Chief Executive Officer
POWER OF ATTORNEY
Each person whose signature appears below constitutes
and appoints Jay Kim as his true and lawful attorneys-in-fact and agents, each acting alone, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments)
to this registration statement on Form S-1 and any subsequent registration statement the Registrant may hereafter file with the Securities
and Exchange Commission pursuant to Rule 462 under the Securities Act to register additional securities in connection with this registration
statement, and to file this registration statement, 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 and necessary to be done in order to effectuate the same as fully, 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, may lawfully
do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities
Act, this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/s/ Jay Kim
Chief Executive Officer and Director
November 12, 2024
Jay Kim
(Principal Executive Officer)
/s/ Stephan Kim
Chief Financial Officer
November 12, 2024
Stephan Kim
(Principal Financial Officer and Principal
Accounting Officer)
/s/ Farooq M. Arjomand
Farooq M. Arjomand
Chairman and Director
November 12, 2024
/s/ Dennis R. Egidi
Dennis R. Egidi
Director
November 12, 2024
/s/ Sehan Kim
Sehan Kim
Director
November 12, 2024
/s/ Andy Nasim
Andy Nasim
Director
November 12, 2024
/s/ Jennifer Tan
Jennifer Tan
Director
November 12, 2024
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EXHIBIT INDEX
1.1*
Form of Placement Agent Agreement
3.1
Certificate of Incorporation (Delaware), dated July 27, 2022 (incorporated by reference to Exhibit 3.1 to Amendment No. 5 to our Registration Statement on Form S-1 filed on August 2, 2022)
3.2
Bylaws of Registrant (Delaware) (incorporated by reference to Exhibit 3.2 to Amendment No. 5 to our Registration Statement on Form S-1 filed on August 2, 2022)
3.3
Certificate of Amendment to Certificate of Incorporation filed with the Secretary of State of the State of Delaware on January 12, 2024 (incorporated by reference to Exhibit 3.1 to our Current Report on Form 8-K filed on January 16, 2024).
4.1
Specimen Common Stock Certificate (Delaware) (incorporated by reference to Exhibit 4.1 to Amendment No. 5 to our Registration Statement on Form S-1 filed on August 2, 2022)
4.2
Form of Representative's Warrant (incorporated by reference to Exhibit 4.5 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)
4.3
Warrant to Purchase Common Shares issued May 20, 2024 by Reborn Coffee, Inc. to EF Hutton YA Fund, LP (incorporated by reference to Exhibit 4.1 to our Current Report on Form 8-K filed on May 22, 2024).
4.4*
Form of Securities Purchase Agreement
4.5*
Form of Pre-funded Warrant
5.1**
Opinion of Fitzgerald Kreditor Bolduc Risbrough LLP
10.1
Share Exchange Agreement, dated May 7, 2018 by and among Capax, Reborn and each of the RB shareholders (incorporated by reference to Exhibit 10.1 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)
10.2
Form of Letter Agreement (Lockup) by and among Registrant, officers and directors of Registrant and EF Hutton (incorporated by reference to Exhibit 10.2 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)
10.3
Form of Director and Officer Indemnity Agreement (incorporated by reference to Exhibit 10.3 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)
10.4
Shopping Center Lease by and between Reborn Global Holdings, Inc. and La Floresta Regency, LLC, effective July 25, 2016 (incorporated by reference to Exhibit 10.4 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)
10.5
Standard Industrial/ Commercial Multi-Tenant Lease, as amended, by and between Reborn Global Holdings, Inc. and Foothill Crescenta, LLC, effective December 6, 2016 (incorporated by reference to Exhibit 10.5 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)
10.6
Shopping Center Lease by and between Reborn Global Holdings, Inc. and Sibling Associates, LLC, effective July 12, 2017 (incorporated by reference to Exhibit 10.6 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)
10.7
Standard Lease by and between Reborn Global Holdings, Inc. and El Toro, LP, effective February 12, 2021 (incorporated by reference to Exhibit 10.7 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)
10.8
Long Term Kiosk License Agreement by and between Reborn Global Holdings, Inc. and Tyler Mall Limited Partnership, effective February 4, 2021 (incorporated by reference to Exhibit 10.8 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)
10.9
Long Term Kiosk License Agreement by and between Reborn Global Holdings, Inc. and Stonestown Shopping Center, LP, effective December 22, 2020 (incorporated by reference to Exhibit 10.9 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)
10.10
Long Term Kiosk License Agreement by and between Reborn Global Holdings, Inc. and Glendale I Mall Associates, LP, effective October 27, 2020 (incorporated by reference to Exhibit 10.10 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)
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10.11
Form of Subscription Agreement (Regulation A+ Offering) (incorporated by reference to Exhibit 10.11 to Amendment No. 2 to our Registration Statement on Form S-1 filed on April 18, 2022)
10.12
Amendment to Share Exchange Agreement, dated January 25, 2022, by and among Reborn Coffee Inc., Andrew Weeraratne and each of the former shareholders of Reborn Global Holdings, Inc., a California corporation (incorporated by reference to Exhibit 10.10 to Amendment No. 5 to our Registration Statement on Form S-1 filed on August 2, 2022)
10.13
Offer of Employment by and between the Company and Stephan Kim, dated July 27, 2022 (incorporated by reference to Exhibit 10.11 to Amendment No. 5 to our Registration Statement on Form S-1 filed on August 2, 2022)
10.14
Line of Credit Note issued by Reborn Global Holdings, Inc. on June 1, 2023 in the name of DRE, Inc. (incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on July 24, 2023)
10.15
Exchange Agreement by and between Reborn Coffee, Inc. and DRE, Inc. dated November 28, 2023 (incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on November 29, 2023)
10.16
Securities Subscription Agreement by and between Reborn Coffee, Inc. and the investor listed therein, dated January 10, 2024 (incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on January 16, 2024).
10.17
Pre-Paid Advance Agreement by and between Reborn Coffee, Inc. and the EF Hutton YA Fund, LP, dated February 12, 2024 (incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on February 12, 2024).
10.18
Standby Equity Purchase Agreement by and between Reborn Coffee, Inc. and YA II PN, Ltd., dated February 12, 2024 (incorporated by reference to Exhibit 10.2 to our Current Report on Form 8-K filed on February 12, 2024).
10.19
Securities Subscription Agreement by and between Reborn Coffee, Inc. and Scott Lee, dated February 29, 2024 (incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on February 29, 2024).
10.20
Convertible Promissory Note issued May 20, 2024, by Reborn Coffee, Inc. to EF Hutton YA Fund, LP (incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on May 22, 2024).
10.21
Form of Securities Subscription Agreement entered into by Reborn Coffee, Inc. and certain investors in May and June 2024 (incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on August 29, 2024).
10.22
Convertible Promissory Note issued August 29, 2024, by Reborn Coffee, Inc. to Quen Inno Tech Co., Ltd. (incorporated by reference to Exhibit 10.2 to our Current Report on Form 8-K filed on August 29, 2024).
16.1
Letter from Kreit and Chiu CPA LLP dated May 1, 2023 (incorporated by reference to Exhibit 16.1 to our Current Report on Form 8-K filed on May 2, 2023)
21.1
List of Subsidiaries of the Registrant (incorporated by reference to Exhibit 21.1 to our Annual Report on Form 10-K/A filed on August 15, 2024).
23.1*
Consent of Independent Registered Accounting Firm, BCRG Group.
23.2**
Consent of FitzGerald Kreditor Bolduc Risbrough LLP (included in their opinion filed as Exhibit 5.1).
107*
Filing Fee Table
*
Filed herewith
**
To be filed by amendment
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