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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 18pt"><b>UNITED
STATES</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_90A_edei--CityAreaCode_c20220101__20220630_zuUEOKkdhVdf"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:CityAreaCode">(310)</ix:nonNumeric></span>
<span id="xdx_90F_edei--LocalPhoneNumber_c20220101__20220630_zTmyhPrtliy9"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:LocalPhoneNumber">788-0200</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address,
including zip code, and telephone number, including area code, of registrant&#8217;s principal executive offices)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_900_edei--ContactPersonnelName_c20220101__20220630__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zaJvoxF5y0Ac"><ix:nonNumeric contextRef="From2022-01-012022-06-30_dei_BusinessContactMember" name="dei:ContactPersonnelName">Jonathan
Destler</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>President
and Chief Executive Officer</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opti-Harvest,
Inc.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_90B_edei--EntityAddressAddressLine1_c20220101__20220630__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zGbZHEIpGdSg"><ix:nonNumeric contextRef="From2022-01-012022-06-30_dei_BusinessContactMember" name="dei:EntityAddressAddressLine1">1801
Century Park East</ix:nonNumeric></span>, <span id="xdx_90A_edei--EntityAddressAddressLine2_c20220101__20220630__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zJ1FT6gBvzqh"><ix:nonNumeric contextRef="From2022-01-012022-06-30_dei_BusinessContactMember" name="dei:EntityAddressAddressLine2">Suite 520</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_90E_edei--EntityAddressCityOrTown_c20220101__20220630__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zlqXKhEztCrg"><ix:nonNumeric contextRef="From2022-01-012022-06-30_dei_BusinessContactMember" name="dei:EntityAddressCityOrTown">Los
Angeles</ix:nonNumeric></span>, <span id="xdx_90A_edei--EntityAddressStateOrProvince_c20220101__20220630__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zoJySUazOxjc"><ix:nonNumeric contextRef="From2022-01-012022-06-30_dei_BusinessContactMember" format="ixt-sec:stateprovnameen" name="dei:EntityAddressStateOrProvince">California</ix:nonNumeric></span> <span id="xdx_905_edei--EntityAddressPostalZipCode_c20220101__20220630__dei--EntityAddressesAddressTypeAxis__dei--BusinessContactMember_zL4GAc7NQExk"><ix:nonNumeric contextRef="From2022-01-012022-06-30_dei_BusinessContactMember" name="dei:EntityAddressPostalZipCode">90067</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(310)
788-0200</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address,
including zip code, and telephone number, including area code, of agent for service)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Copies
to:</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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                                            E. Puzzo, Esq.</b></span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Law
    Offices of Thomas E. Puzzo, PLLC</b></span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3823
    44th Ave. NE</b></span></p>
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    Washington 98105</b></span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(206)
    522-2256</b></span></p></td>
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                                            M. Tucker, Esq.</b></span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nelson
    Mullins Riley &amp; Scarborough LLP</b></span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>101
    Constitution Avenue, NW, Suite 900</b></span></p>
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    689-2933</b></span></p></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Approximate
date of proposed sale to the public: As soon as practicable after the effective date of this Registration Statement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. &#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. &#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. &#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. &#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting
company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer&#8221; and &#8220;smaller reporting company&#8221;
in Rule 12b-2 of the Exchange Act.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    accelerated filer</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 25%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 25%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated
    filer</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 25%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</span></td></tr>
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    reporting company</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided to Section 7(a)(2)(B) of the Securities Act. <span id="xdx_903_edei--EntityExTransitionPeriod_c20220101__20220630_zGQzBr1y3bkh"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt:booleanfalse" name="dei:EntityExTransitionPeriod">&#9744;</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><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 the registration statement shall become effective on such date
as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Red">The
information in this preliminary prospectus is not complete and may be changed. We may not sell these securities until the registration
statement filed with the U.S. Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these
securities and it is not soliciting an offer to buy these securities in any state or other jurisdiction where the offer or sale is not
permitted.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SUBJECT
TO COMPLETION, DATED AUGUST 31, 2022</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PRELIMINARY
PROSPECTUS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Units</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Each
Unit Consisting of One Share of Common Stock and One Warrant to Purchase One Share of Common Stock</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="forms-1_1.jpg" alt="" />&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
is our initial public offering. We are offering&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;units, each unit consisting
of one share of common stock, par value $0.0001 per share, and a warrant to purchase one share of common stock, assuming an initial public
offering price of $&#160;&#160;&#160;&#160;&#160;&#160;per unit (which is the midpoint of the estimated range of the initial public offering
price set forth below). We currently estimate that the initial public offering price will be between $&#160;&#160;&#160;&#160;and $&#160;&#160;&#160;&#160;per
unit. Each share of common stock is being sold together with one warrant to purchase one share of common stock. Each whole share exercisable
pursuant to the warrants will have an exercise price per share at&#160;&#160;&#160;&#160;&#160;&#160;&#160;, equal to 125% of the initial
public offering price. The warrants will be immediately exercisable and will expire on the fifth anniversary of the original issuance
date. The units will not be certificated. The shares of common stock and related warrants are immediately separable and will be issued
separately, but must be purchased together as a unit in this offering.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Currently,
there is no public market for our common stock. We have applied to list our common stock under the symbol &#8220;OPHV&#8221; and our
warrants under the symbol &#8220;OPHVW&#8221; both on the Nasdaq Capital Market. The closing of this offering is contingent upon the
successful listing of our common stock and warrants on The Nasdaq Capital Market.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have two classes of capital stock: common stock and Series A Preferred Stock. Our capital structure involving our Series A preferred
stock differs significantly from those companies that have typical dual or multi-class capital structures. Each share of our common stock
will entitle the holder to one vote. We also have one share of Series A preferred stock outstanding, held by Jonathan Destler, our Chief
Executive Officer, Chairman and co-founder. which entitles Mr. Destler to a number of votes that is equal to 110% of the issued and outstanding
shares of our common stock, as well as the right to appoint a director. This means that, for the foreseeable future, the control of our
company will be concentrated with Mr. Destler through his ownership of our Series A Preferred Stock, and even if Mr. Destler sells a
significant portion of shares of our common stock that he owns directly or indirectly, he will still maintain greater than 50% of the
voting power of us. The terms of Series A preferred stock also include protective provisions that require the consent of the Series A
Preferred stockholder in order for us to make any fundamental change to our business or corporate structure. This means that changes
to our board of directors or management, our Certificate of Incorporation, as amended, our Bylaws, our business direction, or any change
in control, merger or other business combination, or takeover involving us may not occur without the consent of Mr. Destler as long as
he holds his share of Series A Preferred Stock. See the section titled &#8220;Description of Capital Stock&#8221; for more information.
The objective of the Series A Preferred Stock is to fortify control of our company with Mr. Destler.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Immediately
following the completion of this offering, Mr. Destler will own approximately % of the voting power of our outstanding capital stock,
assuming an initial public offering price of $ per unit (which is the midpoint of the estimated range of the initial public offering
price shown on this cover page of the prospectus) and assuming no exercise of the underwriters&#8217; option to purchase additional shares
and warrants, and we will be a &#8220;controlled company,&#8221; within the meaning of Nasdaq listing standards. Therefore, we will qualify
for, and intend to rely on, exemptions from certain Nasdaq corporate governance requirements. See &#8220;Management Controlled Company
Exception.&#8221;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>We
are an &#8220;emerging growth company&#8221; and a &#8220;smaller reporting company&#8221; as defined under the federal securities laws
and, as such, have elected to comply with certain reduced public company reporting requirements. See &#8220;Prospectus Summary&#8212;Implications
of Being an Emerging Growth Company and a Smaller Reporting Company.&#8221;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investing
in shares of our common stock and warrants involves a high degree of risk. See &#8220;<i>Risk Factors</i>&#8221; beginning on page 12
of this prospectus for a discussion of information that should be considered in connection with an investment in our securities.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: italic 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: italic 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: italic 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Per
                                            Unit</i></span></td><td style="font: italic 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: italic 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: italic 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Total</i></span></td><td style="font: italic 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: italic 10pt Times New Roman, Times, Serif; width: 68%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial
    public offering price</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">&#160;&#160;&#160;&#160;&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: italic 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting
    discounts and commissions (1)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: italic 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proceeds
    to us, before expenses</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: top; text-align: left">
  <td style="width: 0.25in">&#160;</td>
  <td style="width: 0.25in">(1)
</td>
  <td style="text-align: justify">Does not include a non-accountable expense allowance equal to 1% of the gross proceeds of this offering payable to Westpark Capital,
the representative of the underwriters. We have also agreed to issue warrants to the representative of the underwriters. The registration
statement, of which this prospectus forms a part, also registers the issuance of the representative&#8217;s warrants and shares of common
stock issuable upon exercise of the representative&#8217;s warrants. See &#8220;Underwriting&#8221; for additional information regarding
underwriters&#8217; compensation.</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have granted a 45-day option to the underwriters, exercisable one or more times in whole or in part, to purchase up to an aggregate of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;additional
shares of common stock and/or up to&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;additional warrants (equal to 15% of the
shares of common stock and warrants underlying the units sold in the offering) in any combination thereof, to cover over-allotments,
if any, from us at the initial public offering price, less underwriting discounts and commissions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Neither
the Securities and Exchange Commission, or the SEC, nor any state securities commission has approved or disapproved of these securities
or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
underwriters expect to deliver the units to purchasers on or before&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; , 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>WESTPARK
CAPITAL </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
date of this prospectus is&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; , 2022</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TABLE
OF CONTENTS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 0.5in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Page</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"><a href="#a_1"><span style="font-size: 10pt">Prospectus
    Summary</span></a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"><a href="#a_2"><span style="font-size: 10pt">Risk
    Factors</span></a></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#k_1"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Special Note Regarding Forward-Looking Statements</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">36</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#k_2"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Market, Industry and Other Data</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">37</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#k_3"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use of Proceeds</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">38</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#k_4"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividend Policy</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">38</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#k_5"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Capitalization</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">39</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#k_6"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dilution</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">39</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#k_7"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">41</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#k_8"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Business</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#ba_001"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">68</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#ba_002"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive Compensation</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">73</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#ba_004"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain Relationships and Related Transactions</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">76</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#ba_005"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Principal Stockholders</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">76</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#ba_006"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description of Capital Stock</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">78</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#ba_007"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares Eligible for Future Sale</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">84</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#ba_008"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">85</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#ba_009"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Legal Matters</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">90</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#ba_010"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Experts</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">90</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#ba_011"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Where You Can Find More Information</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">90</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><a href="#ba_012"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Index to Financial Statements</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-1</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
and the underwriters have not authorized anyone to provide any information or to make any representations other than those contained
in this prospectus or in any related free writing prospectuses. We and the underwriters take no responsibility for, and can provide no
assurance as to the reliability of, any other information that others may give you. This prospectus is an offer to sell only the units
offered by this prospectus, and only under circumstances and in jurisdictions where it is lawful to do so. The information contained
in this prospectus or in any applicable free writing prospectus is current only as of its date. Our business, results of operations,
financial condition, and prospects may have changed since that date.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
investors outside the United States: We have not, and the underwriters have not, done anything that would permit this offering or the
possession or distribution of this prospectus or any free writing prospectus in connection with this offering in any jurisdiction where
action for that purpose is required, other than in the United States. Persons outside the United States who come into possession of this
prospectus must inform themselves about, and observe any restrictions relating to, the offering of the units and the distribution of
this prospectus outside the United States. See &#8220;Underwriting.&#8221;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_1"></span>PROSPECTUS
SUMMARY</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>This
summary highlights certain information appearing elsewhere in this prospectus. For a more complete understanding of this offering, you
should read the entire prospectus carefully, including the information under &#8220;Risk Factors,&#8221; &#8220;Business,&#8221; &#8220;Management&#8217;s
Discussion and Analysis of Financial Condition and Results of Operations&#8221; and our financial statements and the related notes included
elsewhere in this prospectus before investing in our securities.</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>In
this prospectus, unless otherwise stated or the context otherwise requires, references to &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us,&#8221;
&#8220;our,&#8221; &#8220;Opti-Harvest&#8221; or similar references mean Opti-Harvest, Inc.</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Overview</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Harvest
is an agricultural innovation company with products backed by a portfolio of patented and patent pending technologies focused on solving
several critical challenges faced by agribusinesses: maximizing crop yield, accelerating crop growth, optimizing land and water resources,
reducing labor costs and mitigating negative environmental impacts.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
advanced agriculture technology (Opti-Filter&#8482;) and precision farming (Opti-View&#8482;) platforms, enable commercial growers and
home gardeners to harness, optimize and better utilize sunlight, the planet&#8217;s most fundamental and renewable natural resource.
Our sustainable agricultural technology solutions are powered by the sun, maximizing a free and renewable resource with no need for additional
chemicals, fertilizers or labor.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are developing revenue streams for the following product lines:</span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Filter&#8482;
    Products; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ChromaGro&#8482;
    Products; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">OptiView&#8482;
    SaaS Licensing </span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Our
Technology and Products</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are building a global agriculture technology business providing advanced equipment and precision agriculture software and solutions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Opti-Filter&#8482;
</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Filter
products are designed to optimize land and water resources by utilizing sunlight in novel ways to accelerate growth in newly planted
crops (Opti-Gro, Opti-Shield and ChromaGro products), and improve production in mature vineyards and orchards (Opti-Skylights and Opti-Panels
products). Opti-Filter photo-selective technology turns sunlight into scattered, red-enriched light, maximizing the sun&#8217;s most
productive rays and filtering out those that inhibit growth and production, which results in enhanced foliage activity, fruitfulness,
shorter time to production, and substantial increases in marketable yield. These benefits are enhanced further by significant reductions
in labor costs and other related expenses associated with conventional farming practices. Increasing outputs (yield, revenues) and lowering
inputs (labor costs, resources) are age-old challenges for farmers. Our consumer product line (ChromaGro) is focused on the home garden
market.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Opti-View
</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Opti-Filter family of products is complimented by our Agricultural Intelligence&#8482; technology which collects and processes critical
environmental data from a variety of sensors and industry partners to provide predictive analytics and recommendations that are designed
to enable growers to incorporate powerful data into their decision-making process. We believe this system will provide far greater insights
than any single system could and will enable growers to collect and interpret crucial data from which to make better choices to improve
yield and maximize resources including irrigation and labor.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
products are marketed to two key markets: commercial agriculture and home garden and fall into three categories:</span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advanced
    Farm Equipment (Opti-Filter family of products), </span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Home
    Garden Product (ChromaGro, powered by Opti-Filter), and</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Precision
    Agriculture (Opti-View). </span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
began commercializing our Opti-Gro and ChromaGro products in the first half of 2021, our Opti-Shield and Opti-Panel late in the
first half of 2022, and we plan to commercialize our Opti-Skylight products in the first half of 2023. Our Opti-View product is
currently in our research and development phase with an anticipated commercial offering in 2023.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Advanced
Farm Equipment</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Growth
accelerating products for newly planted crops</span></i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
Opti-Gro&#8482; units function as individual plant-growth chambers that target multiple biological processes to naturally accelerate
growth and shorten time to first crop and maturity in table and raisin grapes, and wine grape vines.</span></p>

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    <td style="width: 2%">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><img src="forms-1_3.jpg" alt="" style="height: 265px; width: 230px" /><span style="font-size: 10pt">&#160;</span></span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Gro
units are applied soon after vine planting and typically left in place for one season only. However, their positive impacts last several
seasons after their removal.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.
Opti-Shields&#8482; are designed to fit newly planted fruit trees, nut trees and other crops.</span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="forms-1_4.jpg" alt="" style="height: 216px; width: 330px" />&#160;</span></td>
    <td style="width: 2%">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><img src="forms-1_5.jpg" alt="" style="height: 213px; width: 330px" /><span style="font-size: 10pt">&#160;</span></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Shields
are applied soon after planting and kept for two years.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Products
improving production in mature orchards and vineyards</span></i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
Opti-Panels&#8482; utilize Opti-Filter technology to reduce labor costs and improve production in mature vineyards and crops grown on
trellis systems.</span></p>

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    <td style="width: 2%">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"><img src="forms-1_7.jpg" alt="" /><span style="font-size: 10pt">&#160;</span></span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Panels
are installed by retrofitting into current trellis systems, or along with initial construction, and remain in the vineyard or orchard
for many years.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.
Opti-Skylight&#8482; funnels penetrate the canopy of mature fruit and nut trees to improve production in mature tree crops.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Skylight
is a parabolic collector which concentrates and directs sunlight to the inner canopy, while a translucent down tube delivers the production-enhancing
effects of red enriched light throughout the canopy.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Home
Garden Product</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ChromaGro
units are designed for use in home gardens in rural (backyards, professional gardens) and urban (patios, balconies and terraces) settings.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Precision
Agriculture</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-View
is a proprietary, high sophisticated, multi-vendor AI and machine learning precision agriculture platform for commercial agriculture.
It integrates data from our own suite of sensors with data streams from strategic partners. It is designed to empower farmers with better
data &#8211; by offering valuable insights from predictive analytics so they can better manage their crop yields and key inputs including
water and labor. We call this Agricultural Intelligence&#8482;.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Our
Competitive Strengths </b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that we have several key strengths that provide us with a competitive advantage:</span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>We
    have developed a transformative agricultural technology platform with multiple product applications: </i>Our technology is patented,
    functional and proven with a growing number of customers across major markets in North America and around the world. We expect this
    trend to accelerate as our base of installations grows.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>We
have a strong intellectual property portfolio</i>: <span style="background-color: white">Opti-Harvest owns five patent families, including
two U.S. patents, one granted European patent, granted patents in each of Brazil, Chile, Peru, Israel, and Mexico, as well as at least
one pending international (PCT) application and over thirty additional patent applications pending worldwide as of May 30, 2022. Opti-Harvest
has 5 years of R&amp;D experience, and continues to drive innovation. </span></span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i>We
    have a strong ecosystem of relationships</i>: Through the course of the previous five years and over 65 field trials, Opti-Harvest
    has developed strong collaborative relationships with many leading growers in the commercial agriculture ecosystem; growers who are
    in the best position to recognize the multiple benefits our technology and products bring to their farming initiatives. These industry
    partnerships and collaborative relationships are key to our technical and economic success and are not easily replicated.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i>We
    are committed to ESG</i>: Opti-Harvest has an authentic and overarching commitment to ESG, sustainability and social impact. We are
    committed to a broad set of stakeholders, including our employees, our community, our environment, our customers, and our stockholders.
    This commitment aligns with our mission to provide farmer-focused solutions to sustainably feed our world. We see opportunities in
    many areas of the agricultural value chain to address some of today&#8217;s most significant challenges including food security,
    farmer livelihood, and resource use efficiency. </span></td></tr>
  </table>
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i>We
    are decarbonizing agriculture: </i>Fresh produce accounts for roughly one-tenth of food related greenhouse gas (GHG emissions), or
    approximately 1% of GHG emissions in the U.S. (transportation accounts for 28% of that carbon footprint).</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;
    <span style="background-color: white">We are committed to developing technologies that reduce CO&#8322; emissions across our installed
    and potential customer base and that reduce the agriculture&#8217;s contribution to climate change. GHG emissions associated with
    fresh produce production include on-farm inputs (applied water, biocides, direct electricity use, direct fuel use and other materials
    and resources) as well as upstream GHG emissions associated with the production and supply of these inputs. We believe our technologies
    reduce consumption of several of these GHG inputs by improving production, operational efficiencies, and resource utilization. </span></span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i>We
    are conserving resources: </i>An important physiological response to our technology includes as much as 50% mitigation of plant daily
    water stress, more efficient uptake of water and soil nutrients as well as increased photosynthetic uptake of carbon dioxide from
    the atmosphere.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i>We
    have an experienced leadership and scientific team</i>: </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Harvest
    has built an experienced multi-disciplinary leadership and scientific team with a strong track record of driving scientific and product
    innovation and revenue growth in several technology businesses. Each member of our leadership team has decades of experience in their
    respective area of expertise.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i>We
    continue to drive innovation</i>. By continuing to focus on innovation and enhancement of our product offerings, we believe we can
    build significant market share, product usage and customer satisfaction. Our research and development, engineering, marketing and
    executive leadership teams bring expertise from a variety of fields including horticultural science, agronomy, optical physics, materials
    science, electronics and networking, product design, software development, machine learning and AI. </span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>Our
Growth Strategy</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
of the growth initiatives outlined below depends on our ability to develop broad acceptance of our products. We continuously work to
market our products and believe we will have acceptance of our products in both the consumer grower and commercial agriculture segments
through the execution of the following strategies:</span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i>Sales
    and Marketing</i>: </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Harvest&#8217;s growth and
    success depend upon developing and implementing go-to-market strategies that ensure superior customer satisfaction, retention, and
    expansion. As Opti-Harvest transitions from field trials to comprehensive commercialization initiatives, opportunities for industry
    partnerships and/or developing marketing, sales and distribution capabilities internally will be evaluated and piloted to ensure
    all aspects of customer and product support are validated. <span style="background-color: white">Our initial commercialization strategy
    is focused on marketing our products that use Opti-Filter technology. The introduction of our Opti-View solution represents an important
    opportunity to expand revenues from both installed Opti-Filter customers as well as a stand-alone solution to commercial customers.
    </span></span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i>Expansion
    into New Geographies</i>: Opti-Harvest intends to initially derive the majority of its revenues from select markets in North America.
    We anticipate significant growth opportunities to expand our business in additional regions in North America and in international
    markets around the world.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i>Finance
    / Lease Model</i>: We intend to establish finance partners that will allow us to offer financial terms to commercial agriculture
    customers and establish sales velocity and scale. </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Selected
Risks Associated with Our Business</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
business is subject to a number of risks and uncertainties, including those highlighted in the section titled &#8220;Risk Factors&#8221;
immediately following this summary. These risks include, but are not limited to, the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
    is uncertainty regarding our ability to continue as a going concern, indicating the possibility that we may be required to curtail
    or discontinue our operations in the future. If we discontinue our operations, you may lose all of your investment.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    negatively affect our business.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jonathan
    Destler, our co-founder, director and Chief Executive Officer, is able to control all matters requiring stockholder approval, including
    the election of directors and approval of significant corporate transactions.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    are a &#8220;controlled company&#8221; within the meaning of the Nasdaq rules and, as a result, qualify for, and will rely on, exemptions
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Patent
Purchase Agreement</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 7, 2017, we and DisperSolar LLC (&#8220;DisperSolar&#8221;) entered into a Patent Purchase Agreement (the &#8220;Agreement&#8221;)
pursuant to which we acquired certain patents (intellectual property) of DisperSolar. DisperSolar developed the patents for harvesting,
transmission, spectral modification and delivery of sunlight to shaded areas of plants.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the Agreement, we agreed to pay the following for the acquisition DisperSolar&#8217;s intellectual property:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial
    Payment: $150,000 deposited into the Seller Account within 10 days of the Effective Date (the &#8220;Initial Payment&#8221;). </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial
    Milestone Payments: Additional payments in the aggregate combined amount up to $450,000 upon reaching defined milestones (the &#8220;Milestone
    Payments&#8221;). As of the date of this prospectus, no remaining milestone payment obligations remain.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Earnout
    Payments: $800,000 paid on the on-going basis at a rate of 50% of gross margin and/or License Revenue from the date of the first
    commercial sale of a Covered Product or the first receipt by Purchaser of License Revenue, until the aggregate combined Gross Margin
    and License Revenue reach $1.6 million. As of the date of his prospectus, we recorded no earnout payment obligations as no gross
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will pay to DisperSolar royalties as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
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    the recognition by us of the first $1.6 million in aggregate combined gross margin and license revenue, and until we pay to DisperSolar
    an aggregate amount in royalties of $30 million, we shall pay to DisperSolar royalties on sales of covered products at a rate of
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td>
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    we paid to DisperSolar an aggregate amount in royalties of $30 million, we shall pay to DisperSolar royalties on sales of covered
    products at a rate of 4.75% of gross margin until the earlier of (x) such time as covered products are not covered by any claims
    of any assigned patent, and (y) the date of the consummation of a strategic transaction. </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of the date of this prospectus, we recorded no royalties payment obligations as no gross margin was realized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will pay to DisperSolar 7.6% of all license consideration received by us until the date of the consummation of a Strategic Transaction.
&#8220;Strategic Transaction&#8221; means a transaction or a series of related transactions that results in an acquisition of the Company
by a third party, including by way of merger, purchase of capital stock or purchase of assets or change of control or otherwise.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8220;Strategic
Transaction Consideration&#8221; means any cash consideration and the fair market value of any non-cash consideration paid to us by any
acquirer as consideration for the Strategic Transaction, less the costs and expenses incurred by a purchaser for the purpose of consummating
a Strategic Transaction. We will pay to DisperSolar a percentage of all License Consideration received by a prospective purchaser as
follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.8%
    of the first $50 million of the Strategic Transaction Consideration;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.7%
    of the next $100 million of the Strategic Transaction Consideration (i.e., over $50 million and up to $150 million); and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.6%
    of Strategic Transaction Consideration over $150 million.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Chief Science Officer, Yosepha Shahak Ravid, and our Chief Technology Officer, Nicholas Booth, are both control persons of DisperSolar
and named inventors of the acquired patents we acquired from DisperSolar.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Corporate
Information</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
executive offices are located at 1801 Century Park East, Suite 520, Los Angeles, California 90067, and our telephone number is (310)
788-0200. Our website address is www.opti-harvest.com. We do not incorporate information on or accessible through our website into this
prospectus, and you should not consider any information on, or that can be accessed through our website as a part of this prospectus
and the inclusion of our website address in this prospectus is an inactive textual reference only. We were incorporated under the laws
of the State of Delaware on June 20, 2016.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Implications
of Being an Emerging Growth Company and a Smaller Reporting Company</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
qualify as an &#8220;emerging growth company&#8221;, as defined in Section 2(a) of the Securities Act of 1933, as amended, or the Securities
Act, as modified by the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. As an emerging growth company, we may take advantage
of specified reduced disclosure and other requirements that are otherwise applicable, in general, to public companies that are not emerging
growth companies. These provisions include:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    option to present only two years of audited financial statements and only two years of related Management&#8217;s Discussion and
    Analysis of Financial Condition and Results of Operations in this prospectus;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">not
    being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">reduced
    disclosure obligations regarding executive compensation in our periodic reports, proxy statements and registration statements; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">exemptions
    from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute
    payments not previously approved.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will remain an emerging growth company until the earliest to occur of: (i) the last day of the first fiscal year in which our annual
gross revenue exceeds $1.07 billion; (ii) the date that we become a &#8220;large accelerated filer&#8221; as defined in Rule 12b-2 under
the Securities Exchange Act of 1934, as amended, or the Exchange Act, which would occur if the market value of our common stock that
is held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter; (iii)
the date on which we have issued, in any three-year period, more than $1.0 billion in non-convertible debt securities; and (iv) the last
day of the fiscal year ending after the fifth anniversary of the completion of this offering.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
an emerging growth company, we can delay the adoption of certain accounting standards until those standards would otherwise apply to
private companies. We have elected to use this extended transition period for complying with new or revised accounting standards that
have different effective dates for public and private companies until the earlier of the date we (i) are no longer an emerging growth
company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act. As a result, our financial
statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective
dates. If we were to subsequently elect instead to comply with these public company effective dates, such election would be irrevocable
pursuant to the JOBS Act.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are also a &#8220;smaller reporting company&#8221; as defined in the Exchange Act. We may continue to be a smaller reporting company
even after we are no longer an emerging growth company. We may take advantage of certain of the scaled disclosures available to smaller
reporting companies and will be able to take advantage of these scaled disclosures for so long as the market value of our common stock
held by non-affiliates is less than $250.0 million measured on the last business day of our second fiscal quarter, or our annual revenue
is less than $100.0 million during the most recently completed fiscal year, and the market value of our common stock held by non-affiliates
is less than $700.0 million measured on the last business day of our second fiscal quarter.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>The
Offering</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Units
    offered:</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;<span style="font-size: 10pt">&#160;&#160;&#160;&#160;&#160;units
    (or &#160;&#160;&#160;units if the underwriters exercise the over-allotment option to purchase
    additional units in full), assuming an initial public offering price of $ &#160;&#160;&#160;per unit (which is the midpoint of the
    estimated range of the initial public offering price shown on the cover page of this prospectus), with each unit consisting of one
    share of common stock and a warrant to purchase one share of common stock at an exercise price of $ &#160;&#160;&#160;, equal to
    125% of the initial public offering price, which will be immediately exercisable and will expire on the fifth anniversary of the
    original issuance date. The shares and warrants that are part of the units are immediately separable and will be issued separately
    in this offering.</span></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 26%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Common
    stock offered by us:</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 72%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Up
    to &#160;&#160;&#160;shares of common stock, assuming an initial public offering price of $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;per
    unit (which is the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus).</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrants
    offered by us:</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Up
    to&#160;&#160;&#160;&#160;&#160;&#160;warrants to purchase up to&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of common stock, assuming an initial public offering price of $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;per unit (which is
    the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus). Each share
    of common stock is being sold together with one warrant to purchase one share of common stock. Each whole share exercisable pursuant
    to the warrants will have an exercise price per share equal to $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;, equal to
    125% of the initial public offering price, will be immediately exercisable and will expire on the fifth anniversary of the original
    issuance date. Warrants may be exercised only for a whole number of shares. The shares of common stock and warrants are immediately
    separable and will be issued separately, but must be purchased together in this offering as units. This prospectus also relates to
    the offering of the shares issuable upon exercise of the warrants.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Common
    stock to be outstanding immediately after the offering:</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of common stock or &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares if the underwriters exercise the over-allotment option
    in full), assuming an initial public offering price of $&#160;&#160;&#160;per unit (which is the midpoint of the estimated range
    of the initial public offering price shown on the cover page of this prospectus).</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Over-allotment
    option</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    underwriters have an option for a period of 45 days to purchase up to additional shares of our common stock and/or warrants sold
    in the offering in any combination thereof, to cover over-allotments, if any. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Use
    of proceeds</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            estimate the that net proceeds from the sale of our units in this offering will be approximately
                                            $&#160;&#160; or approximately $&#160;&#160; if the underwriters exercise their option to purchase additional units
                                            in full), based on the assumed initial public offering price of $&#160;&#160;&#160;per share, which is the
                                            midpoint of the price range set forth on the cover page of this prospectus, after deducting
                                            the underwriting discounts and commissions and estimated offering expenses payable by us.</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -3.45pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    currently intend to use the net proceeds we receive from this offering to repay the outstanding principal and interest accrued on
    Senior Convertible Promissory Notes, to fund the sales and marketing, as well as research and development and field trial activities
    supporting commercialization of our products, and to use the remainder of the net proceeds for general corporate purposes, including
    working capital and operating expenses. See the section entitled &#8220;Use of Proceeds&#8221; for additional information.</span></p></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Controlled
    company</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
    the closing of this offering, Jonathan Destler will beneficially own more than 50% of the voting power for the election of members
    of our board of directors and we will be a &#8220;controlled company&#8221; under the Nasdaq rules. As a controlled company, we qualify
    for, and intend to rely on, exemptions from certain Nasdaq corporate governance requirements. See &#8220;Management&#8212;Controlled
    company exception.&#8221;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Voting
    rights</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
    share of common stock will entitle the holder to one vote. We also have one share of Series A preferred stock outstanding, which
    entitles its holder to a number of votes that is equal to 110% of the issued and outstanding shares of our common stock. Holders
    of our common stock and Series A preferred stock will generally vote together as a single class, unless otherwise required by law
    or our certificate of incorporation. The outstanding share of our Series A preferred stock is held by our co-founder, director and
    Chief Executive Officer, Jonathan Destler. Immediately following the completion of this offering, Mr. Destler will own approximately
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;% of the voting power of our outstanding capital stock (based on the assumed
    initial public offering price of $&#160;&#160;&#160;&#160;per share, which is the midpoint of the price range set forth on the cover
    page of this prospectus), assuming no exercise of the underwriters&#8217; option to purchase additional shares. Mr. Destler will
    have the ability to control the outcome of matters submitted to our stockholders for approval, including the election of our directors
    and the approval of any change of control transaction. See &#8220;Description of Capital Stock&#8221; for additional information.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 26%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Representative&#8217;s
    warrants</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 72%"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            have agreed to issue to Westpark Capital, acting as the representative of underwriters of
                                            the offering, referred to as the &#8220;Representative,&#8221; compensation warrants to purchase
                                            up to 3% of the number of shares of common stock issued in this offering, referred to as
                                            the &#8220;Representative&#8217;s Warrants.&#8221; The Representative&#8217;s Warrants will
                                            be exercisable commencing 180 days after, and will terminate five years from, the effective
                                            date of the offering. The Representative&#8217;s Warrants are exercisable at a per share
                                            price equal to 120% of the initial public offering price per share in the offering. The Representative&#8217;s
                                            Warrants will provide for cashless exercise, a one-time demand registration right and unlimited
                                            piggyback rights.</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risk
    factors</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investing
    in our securities involves a high degree of risk. As an investor, you should be able to bear a complete loss of your investment.
    You should carefully read &#8220;Risk Factors&#8221; on page 12 in this prospectus for a discussion of factors that you should consider
    before deciding to invest in our common stock and warrants.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Lock-up</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We,
    all of our directors and officers and our shareholders who hold the number of shares of our common stock equal to 1% or more of our
    issued and outstanding shares of common stock have agreed with the underwriters, subject to certain exceptions, not to sell, transfer
    or dispose of, directly or indirectly, any of our common stock or securities convertible into or exercisable or exchangeable for
    our common stock for a period of six months after the closing of this offering. See &#8220;<i>Underwriting</i>&#8221; for more information.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nasdaq
    symbol</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    connection with this offering, our common stock and warrants have been approved for listing on the Nasdaq Capital Market (&#8220;Nasdaq&#8221;)
    under the symbol &#8220;OPHV&#8221; and &#8220;OPHVW&#8221;, respectively.&#160;&#160;We will not apply for listing of the units
    on any other nationally recognized trading system. The closing of this offering is contingent upon the successful listing of our
    common stock and warrants on the Nasdaq Capital Market.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
number of shares of our common stock that will be outstanding after this offering is based on (i) an assumed initial public offering
price of $&#160;&#160;&#160;per unit, the midpoint of the price range set forth on the cover page of this prospectus, (ii) shares of our common stock
outstanding as of the date of this prospectus, and (iii) excludes the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,585,000
    shares of common stock reserved for issuance upon the exercise of outstanding options at a weighted average exercise price of $2.00
    per share, as well as any future increases in the number of shares of our common stock reserved for issuance under our equity incentive
    plan;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,457,709
    </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of common stock reserved for issuance
    upon the exercise of outstanding warrants at a weighted average exercise price of $3.09 per share; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">up
    to &#160;&#160;shares of common stock issuable upon conversion of $3,960,364 of Senior Convertible Promissory Notes (the &#8220;Notes&#8221;)
    and interest accrued, based on an assumed initial public offering price of $&#160;&#160;&#160;&#160;&#160;&#160;per unit, the midpoint
    of the price range set forth on the cover page of this prospectus;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,591,235</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">
    shares of common stock reserved for issuance upon the exercise of outstanding warrants issued with our Notes. Each Warrant is
    exercisable at a price equal to 115% of the Company&#8217;s initial public offering price;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">200,000
    restricted stock units issued to our employees. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1
    share of common stock reserved for issuance upon the conversion of 1 share of Series A preferred stock.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">up
    to&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares of common stock issuable upon exercise of warrants included in the units being offered
    in this offering; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">up
    to&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares of common stock issuable upon exercise of the representative&#8217;s warrants issued in connection
    with this offering.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
this prospectus, unless otherwise indicated or the context otherwise requires, the number of shares of common stock outstanding and the
other information based thereon reflects and assumes the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">no
    exercise of warrants included in the units being offered in this offering;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">no
    exercise by the underwriters of their option to purchase additional shares of common stock from us; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">no
    exercise of Representative&#8217;s Warrants.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SUMMARY
FINANCIAL DATA</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following tables summarize our historical financial data as of and for the periods indicated. We derived the summary statement of operations
data for the years ended December 31, 2021 and 2020 and our summary balance sheet data as of December 31, 2021 set forth below from our
audited financial statements contained elsewhere in this prospectus. We derived the summary statement of operations data for the six
months ended June 30, 2022 and 2021 and our summary balance sheet data as of June 30, 2022 from our unaudited condensed financial statements
contained elsewhere in this prospectus, and such summary information is not necessarily indicative of results to be expected for the
full year. The unaudited condensed financial statements have been prepared on the same basis as the audited financial statements and,
in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly our
financial position as of June 30, 2022 and the results of operations for the six months ended June 30, 2022 and 2021. You should read
this data together with our financial statements and related notes included elsewhere in this prospectus and the information under the
caption &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations.&#8221; The summary financial
data included in this section are not intended to replace the financial statements and related notes included elsewhere in this prospectus
and are qualified in their entirety by those financial statements and related notes. Our historical results are not necessarily indicative
of our future results.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the table below, amounts are rounded to nearest thousands, except share and per share amounts.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Six
    Months Ended June 30,</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Year
    Ended December 31,</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2021</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2021</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">2020</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">(unaudited)</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">(unaudited)</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Statement
    of Operations Data:</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; width: 36%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net
    sales</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">20,000</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,000</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">40,000</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">20,000</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Cost
    of goods sold</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">26,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">50,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">102,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">115,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Operating
    expenses</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,377,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,727,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">9,212,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,189,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Financing
    costs</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(611,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest
    expense</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,723,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(817,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Gain
    on forgiveness of debt</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">38,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">38,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net
    loss</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(7,717,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(4,729,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(10,053,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,284,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net
    loss per share, basic and diluted</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(0.24</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(0.16</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(0.32</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(0.12</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Weighted-average
    shares used in computing net loss per share, basic and diluted</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">32,820,329</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">29,680,652</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">30,970,657</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">27,621,029</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the table below, amounts are rounded to nearest thousands.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%">
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">June
    30, 2022</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; white-space: nowrap; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">December
    31, 2021</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">(unaudited)</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Balance
    Sheet Data:</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; width: 56%"><span style="font-family: Times New Roman, Times, Serif">Cash</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">729,000</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 18%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,715,000</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total
    current assets</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,299,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,820,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total
    assets</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,814,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,441,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total
    current liabilities</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,579,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,259,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Long-term
    debt, net of current portion</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">63,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">25,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total
    liabilities</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,642,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,284,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total
    shareholders&#8217; equity (deficit)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,828,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,157,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_2"></span>RISK
FACTORS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>An
investment in our securities is speculative and involves a high degree of risk including the risk of a loss of your entire investment.
You should carefully consider the following risk factors. These risk factors contain, in addition to historical information, forward
looking statements that involve risks and uncertainties. Our actual results could differ significantly from the results discussed in
the forward-looking statements. The occurrence of any of the adverse developments described in the following risk factors could materially
and adversely harm our business, financial condition, results of operations or prospects. In such event, the value of our securities
could decline, and you could lose all or a substantial portion of your investment. In addition, the risks and uncertainties discussed
below are not the only ones we face. Our business, financial condition, results of operations or prospects could also be harmed by risks
and uncertainties not currently known to us or that we currently do not believe are material, and these risks and uncertainties could
result in a complete loss of your investment. In assessing the risks and uncertainties described below, you should also refer to the
other information contained in this prospectus.</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risks
Related to Our Business and Industry</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>There
is uncertainty regarding our ability to continue as a going concern, indicating the possibility that we may be required to curtail or
discontinue our operations in the future. If we discontinue our operations, you may lose all of your investment.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have incurred net losses of $26.9 million from our inception on June 20, 2016 to June 30, 2022 and have completed only the preliminary
stages of our business plan. We anticipate incurring additional losses before generating any revenues and will depend on additional financing
in order to meet our continuing obligations and ultimately, to attain profitability. The report of our independent registered public
accounting firm on our financial statements for the year ended December 31, 2021 included an explanatory paragraph describing conditions
that raise substantial doubt about our ability to continue as a going concern. The conditions giving rise to this uncertainty are also
disclosed in Note 1 to our financial statements for the year ended December 31, 2021 and six months ended June 30, 2022, respectively,
appearing at the end of this prospectus, citing our recurring losses and cash used in operations among other factors. Our ability to
continue as a going concern will be determined by our ability to generate sufficient cash flow to sustain our operations and/or raise
additional capital in the form of debt or equity financing. We believe that the inclusion of a going concern explanatory paragraph in
the report of our registered public accounting firm will make it more difficult for us to secure additional financing or enter into strategic
relationships with distributors on terms acceptable to us, if at all, and likely will materially and adversely affect the terms of any
financing that we might obtain. Our financial statements do not include any adjustments relating to the recoverability and classification
of recorded asset amounts or amounts and classification of liabilities that might be necessary should we be unable to continue as a going
concern.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Pandemics
and epidemics, including the ongoing COVID-19 pandemic, natural disasters, terrorist activities, political unrest, and other outbreaks
could have a material adverse impact on our business, results of operations, financial condition and cash flows or liquidity.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the ongoing global COVID-19 pandemic, the capital markets are experiencing pronounced volatility, which may adversely affect investor&#8217;s
confidence and, in turn may affect our initial public offering.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, the COVID-19 pandemic has caused us to modify our business practices (such as employee travel plan and cancellation of physical
participation in meetings, events, and conference), and we may take further actions as required by governmental authorities or that we
determine are in the best interests of our employees, customers, and business partners. In addition, the business and operations of our
manufacturers, suppliers, and other business partners have also been adversely impacted by the COVID-19 pandemic and may be further adversely
impacted in the future, which could result in delays in our ability to commercialize our agricultural products and services.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a result of social distancing, travel bans, and quarantine measures, access to our facilities, users, management, and support staff has
been limited, which in turn has impacted, and will continue to impact, our operations, and financial condition.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
extent to which COVID-19 impacts our, and those of our suppliers&#8217; and potential users&#8217;, business, results of operations,
and financial condition will depend on future developments, which are uncertain and cannot be predicted, including, but not limited to,
the occurrence of an additional &#8220;wave,&#8221; duration and spread of the outbreak, its severity, the actions to contain the virus
or treat its impact, and how quickly and to what extent normal economic and operating conditions can resume. Even if the COVID-19 outbreak
subsides, we may continue to experience materially adverse impacts to our business as a result of its global economic impact, including
any recession that has occurred or may occur in the future.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are also vulnerable to natural disasters and other calamities. Although we have servers that are hosted in an offsite location, our backup
system does not capture data on a real-time basis, and we may be unable to recover certain data in the event of a server failure. We
cannot assure you that any backup systems will be adequate to protect us from the effects of fire, floods, typhoons, earthquakes, power
loss, telecommunications failures, break-ins, war, riots, terrorist attacks or similar events. Any of the foregoing events may give rise
to interruptions, breakdowns, system failures, technology platform failures or internet failures, which could cause the loss or corruption
of data or malfunctions of software or hardware.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
had negative cash flow for the year ended December 31, 2021 and the six months ended June 30, 2022.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
had negative operating cash flow for the year ended December 31, 2021 and the six months ended June 30, 2022. To the extent that we have
negative operating cash flow in future periods, we may need to allocate a portion of our cash reserves to fund such negative cash flow.
We may also be required to raise additional funds through the issuance of equity or debt securities. There can be no assurance that we
will be able to generate a positive cash flow from our operations, that additional capital or other types of financing will be available
when needed or that these financings will be on terms favorable to us.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
are an early-stage agricultural technology business, with no experience in the market, and failure to successfully compensate for this
inexperience may adversely impact our operations and financial position.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
were incorporated on June 20, 2016, and we are an early-stage agricultural technology business, with few substantial tangible assets
in a highly competitive industry. We have limited operating history, a small customer base and low revenue to date. This makes it difficult
to evaluate our future performance and prospects. Our prospectus must be considered in light of the risks, expenses, delays and difficulties
frequently encountered in establishing a new business in an evolving agricultural technology industry characterized by intense competition,
including:</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;
our business model and strategy are still evolving and are continually being reviewed and revised;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;
we may not be able to raise the capital required to develop our initial customer base and reputation;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;
we may not be able to successfully implement our business model and strategy; and</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;
our management consists of few persons and is heavily reliant on Jonathan Destler, our Chief Executive Officer.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
cannot be sure that we will be successful in meeting these challenges and addressing these risks and uncertainties. If we are unable
to do so, our business will not be successful and you could lose all or a substantial portion of your investment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
expect to suffer losses in the immediate future that may cause us to curtail or discontinue our operations.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
expect to incur operating losses in future periods. These losses will occur because we do not yet have any revenues to offset the expenses
associated with the development of our agricultural technology business, garnering revenues, and our business operations, generally.
We cannot guarantee that we will ever be successful in generating revenues in the future. We recognize that if we are unable to generate
revenues, we will not be able to earn profits or continue operations. There is no history upon which to base any assumption as to the
likelihood that we will prove successful, and we can provide investors with no assurance that we will generate any operating revenues
or ever achieve profitable operations. If we are unsuccessful in addressing these risks, our business will almost certainly fail.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
may not be able to execute our business plan or stay in business without additional funding.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
ability to generate future operating revenues depends in part on whether we can obtain the financing necessary to implement our business
plan. We will likely require additional financing through the issuance of debt and/or equity in order to establish profitable operations,
and such financing may not be forthcoming. As widely reported, the global and domestic financial markets have been extremely volatile
in recent months. If such conditions and constraints continue or if there is no investor appetite to finance our specific business, we
may not be able to acquire additional financing through credit markets or equity markets. Even if additional financing is available,
it may not be available on terms favorable to us. At this time, we have not identified or secured sources of additional financing. Our
failure to secure additional financing when it becomes required will have an adverse effect on our ability to remain in business.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
agriculture technology business is extremely competitive, and if we are not able to compete successfully against other agricultural technology
businesses, both large and small, we will not be able operate our business and investors will lose their entire investment.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
agricultural technology business is extremely competitive and rapidly changing. We currently and in the future face competitive pressures
from numerous actual and potential competitors. Many of our current and potential competitors in the agricultural growth business have
substantial competitive advantages than we have, including:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">longer
    operating histories;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">significantly
    greater financial, technical and marketing resources;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">greater
    brand name recognition;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">better
    advertising and marketing;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">existing
    customer bases; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">commercially
    accepted technology and products.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
competitors may be able to respond more quickly to new or emerging methods and changes in the agricultural technology business and devote
greater resources to identify, develop and market new agricultural products and services, and better market and sell their agricultural
products and services than we can.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
rely on a limited number of suppliers, manufacturers, and logistics partners for our products. A loss of any of these partners could
negatively affect our business.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
rely on a limited number of suppliers to manufacture and transport our products, including in some cases only a single supplier for some
of our products and components. Our single supplier currently manufactures three  of our products available for sale and will
manufacture one additional product planned for commercialization in the first half of fiscal year 2023. This one vendor also houses
our sole set of tooling required to manufacture three of our products. We have no material agreements with our manufacturing suppliers.
Our reliance on a limited number of manufacturers for each of our products increases our risks, since we do not currently have alternative
or replacement manufacturers beyond these key parties. In the event of interruption from any of our manufacturers, we may not be able
to increase capacity from other sources or develop alternate or secondary sources without incurring material additional costs and substantial
delays. Thus, our business could be adversely affected if one or more of our suppliers is impacted by a natural disaster or other interruption
at a particular location.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
we experience a significant increase in demand for our products, or if we need to replace an existing supplier or partner, we may be
unable to supplement or replace them on terms that are acceptable to us, which may undermine our ability to deliver our products to customers
in a timely manner. For example, it may take a significant amount of time to identify a manufacturer that has the capability and resources
to build our products to our specifications in sufficient volume. Identifying suitable suppliers, manufacturers, and logistics partners
is an extensive process that requires us to become satisfied with their quality control, technical capabilities, responsiveness and service,
financial stability, regulatory compliance, and labor and other ethical practices. Accordingly, a loss of any of our significant suppliers,
manufactures, or logistics partners could have an adverse effect on our business, financial condition and operating results.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
loss of the services of Jonathan Destler, our Chief Executive Officer and a director, or our failure to timely identify and retain competent
personnel could negatively impact our ability to develop our website and sell our services.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
development of our agricultural technology business and the marketing of our prospective business will continue to place a significant
strain on our limited personnel, management, and other resources. Our future success depends upon the continued services of our executive
officers who are developing our business, and on our ability to identify and retain competent consultants and employees with the skills
required to execute our business objectives. The loss of the services of Jonathan Destler, our Chief Executive Officer and a director,
or our failure to timely identify and retain competent personnel could negatively impact our ability to develop our website and sell
our services, which could adversely affect our financial results and impair our growth.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
have limited human resources; we need to attract and retain highly skilled personnel; and we may be unable to manage our growth with
our limited resources effectively.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
expansion of our business has placed a significant strain on our limited managerial, operational, and financial resources. We have been
and will continue to be required to expand our operational and financial systems significantly and to expand, train and manage our work
force in order to manage the expansion of our operations. Our future success will depend in large part on our ability to attract, train,
and retain additional highly skilled executive level management with experience in our industry. Competition is intense for these types
of personnel from more established organizations, many of which have significantly larger operations and greater financial, marketing,
human, and other resources than we have. We may not be successful in attracting and retaining qualified personnel on a timely basis,
on competitive terms or at all. To date we have had to limit the engagement of critical management and other key personnel due in part
to limited financial resources. If we are not successful in attracting and retaining these personnel, our business, prospects, financial
condition and operating results would be materially adversely affected. Further, our ability to manage our growth effectively will require
us to continue to improve our operational, financial and management controls, reporting systems and procedures, to install new management
information and control systems and to train, motivate and manage employees. If we are unable to manage growth effectively and new employees
are unable to achieve adequate performance levels, our business, prospects, financial condition and operating results will be materially
adversely affected.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
lack of insurance may expose us to liabilities which could cause us to cease operations.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
we intend to maintain insurance in the future for certain risks, the amount of our insurance coverage may not be adequate to cover all
claims or liabilities, and we may be forced to bear substantial costs resulting from risks and uncertainties of our business. It is also
not possible to obtain insurance to protect against all operational risks and liabilities. The failure to obtain adequate insurance coverage
on terms favorable to us, or at all, could have a material adverse effect on our business, financial condition and results of operations.
We do not have any business interruption insurance. Any business disruption or natural disaster could result in substantial costs and
diversion of resources.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
technology and agricultural growth products have only been developed in the last several years and we have had only limited opportunities
to deploy and assess their performance in the field at full scale.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
current generation of our agricultural growth products have only been developed in the last several years and are continuing to evolve.
Deploying and operating our technology is a complex endeavor and, until recently, had been done primarily by a small number of customers
in the agricultural crop industry, mostly as part of our field trials. As we deploy our products, we may encounter unforeseen operational,
technical and other challenges, some of which could cause significant delays, trigger contractual penalties, result in unanticipated
expenses, and/or damage to our reputation, each of which could materially and adversely affect our business, financial condition and
results of operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
agricultural growth products might not operate properly or contain defects, which could damage our reputation, give rise to claims against
us, or divert application of our resources from other purposes, any of which could harm our business and operating results.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
products are complex and may contain defects or experience failures due to any number of issues in design, materials, manufacture, deployment
and/or use. Despite extensive testing, from time to time we have discovered defects or errors in our products. Material performance problems
or defects in our products might arise in the future, which could have an adverse impact on our business and customer relationship and
subject us to claims.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Defects
and errors related to our agricultural growth products and any failure by us to identify and address them could result in delays in product
introductions and updates, loss of revenue or market share, liability to customers or others, failure to achieve market acceptance or
expansion, diversion of development and other resources, injury to our reputation, and increased service and maintenance costs. Defects
or errors in our products might discourage existing or potential customers from purchasing from us. Correction of defects or errors could
prove to be impossible or impracticable. The costs incurred in correcting any defects or errors or in responding to resulting claims
or liability might be substantial and could adversely affect our operating results.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
we do not continue to innovate and deliver high-quality, technologically advanced products and services, we will not remain competitive,
and our revenue and operating results could suffer.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market for our agricultural growth products is characterized by rapid technological advancements, changes in customer requirements, frequent
new product introductions and enhancements, and changing industry standards. The life cycles of our products are difficult to estimate.
Rapid technological changes and the introduction of new products and enhancements by new or existing competitors could undermine our
current market position.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
success depends in substantial part on our continuing ability to provide products and services that growers will find superior to our
competitors&#8217; products and will continue to use. Our future success will depend upon our ability to anticipate and to adapt to changes
in technology and industry standards, and to effectively develop, to introduce, to market, and to gain broad acceptance of new product
and service enhancements incorporating the latest technological advancements. In addition, because our agricultural growth solutions
are designed to operate on a variety of agricultural products, we will need to continuously modify and enhance our solutions to keep
pace with changes in design, the effects of climate change, the cost of water, evolving crop growth choices, evolving atmospheric conditions,
and database technologies. We intend to continue to invest significant resources in research and development to enhance our existing
products and introduce new high-quality products that customers will want. If we are unable to predict user preferences or industry changes,
or if we are unable to modify our products and services on a timely basis or to effectively bring new products to market, our sales may
suffer. In addition, investment in product development often involves a long return on investment cycle. We have made and expect to continue
to make significant investments in product development. We may expend significant time and resources developing and pursuing sales of
a particular enhancement or application that may not result in revenues in the anticipated time frame or at all, or may not result in
revenue growth sufficient to offset increased expenses. Furthermore, uncertainties about the timing and nature of new functionality,
or new functionality to existing platforms or technologies, could increase our research and development expenses. Any failure of our
products to operate effectively with future technologies could reduce the demand for our products, result in customer dissatisfaction,
and have a material adverse effect on our business, financial condition, and results of operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may not have sufficient resources to make the necessary investments in new product development and we may experience difficulties that
could delay or prevent the successful development, introduction, or marketing of new products or enhancements. In addition, our products
or enhancements may not meet the increasingly complex customer requirements of the marketplace or achieve market acceptance at the rate
we expect, or at all. Any failure by us to anticipate or respond adequately to technological advancements, customer requirements, and
changing industry standards, or any significant delays in the development, introduction, or availability of new products or enhancements,
could undermine our current market position.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
products are anticipated to generally have long sales cycles and implementation periods, which may increase our costs in obtaining orders
and reduces the predictability of our earnings. </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
products are technologically complex. Prospective customers, generally speaking, will have to commit significant resources and time to
inspect, test and evaluate our products and to install and integrate them into existing agricultural operations and systems. Orders expected
in one quarter may shift to another quarter or be cancelled as a result of the customers&#8217; budgetary constraints, internal acceptance
reviews, and other factors affecting the timing of customers&#8217; purchase decisions. In addition, potential customers are anticipated
to require a significant number of product presentations and demonstrations, in some instances evaluating products on-site where already
installed, before reaching a sufficient level of confidence in the product&#8217;s performance and compatibility with the customer&#8217;s
requirements to place an order. As a result, our sales process is anticipated to be subject to delays associated with lengthy approval
processes that typically accompany the design and testing of new products. The sales cycles of our products are anticipated to last for
many months or even years. In addition, the time required for our potential customers to incorporate our products into their operations
and systems are anticipated to vary significantly with the on-site circumstances of our customers, which further complicates our planning
processes and reduces the predictability of our operating results. Longer sales cycles require us to invest significant resources in
attempting to make sales, which may not be realized, and delay the generation of revenue.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>DisperSolar
LLC (&#8220;DisperSolar&#8221;) is a related party because our Chief Science Officer, Yosepha Shahak Ravid, and our Chief Technology
Officer, Nicholas Booth, are both control persons of DisperSolar and named inventors of the acquired patents we acquired from DisperSolar
under our Patent Purchase Agreement with DisperSolar. Ms. Shahak Ravid and Mr. Booth have conflicts of interest with us because they
simultaneously have fiduciary duties to both us and to DisperSolar, which could cause disruptions in our operations and/or us to suffer
losses.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 7, 2017, we and DisperSolar entered into a Patent Purchase Agreement (the &#8220;Agreement&#8221;) pursuant to which we acquired
certain patents (intellectual property) of DisperSolar. DisperSolar developed the patents for harvesting, transmission, spectral modification
and delivery of sunlight to shaded areas of plants.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the Agreement, we agreed to pay the following for the acquisition DisperSolar&#8217;s intellectual property:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial
    Payment: $150,000 deposited into the Seller Account within 10 days of the Effective Date (the &#8220;Initial Payment&#8221;). </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial
    Milestone Payments: Additional payments in the aggregate combined amount up to $450,000 upon reaching defined milestones (the &#8220;Milestone
    Payments&#8221;). As of the date of this prospectus, no remaining milestone payment obligations remain.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 48px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td>
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    Payments: $800,000 paid on the on-going basis at a rate of 50% of gross margin and/or License Revenue from the date of the first
    commercial sale of a Covered Product or the first receipt by Purchaser of License Revenue, until the aggregate combined Gross Margin
    and License Revenue reach $1,600,000. As of the date of his prospectus, we recorded no earnout payment obligations as no gross margin
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will pay to DisperSolar royalties as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following
    the recognition by us of the first $1.6 million in aggregate combined gross margin and license revenue, and until we pay to Seller
    an aggregate amount in royalties of $30 million, we shall pay to Seller royalties on sales of covered products at a rate of 8% of
    gross margin. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Once
    we paid to DisperSolar an aggregate amount in royalties of $30 million, we shall pay to DisperSolar royalties on sales of covered
    products at a rate of 4.75% of gross margin until the earlier of (x) such time as covered products are not covered by any claims
    of any assigned patent, and (y) the date of the consummation of a strategic transaction. </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of the date of this prospectus, we recorded no royalties payment obligations as no gross margin was realized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will pay to DisperSolar 7.6% of all license consideration received by us until the date of the consummation of a Strategic Transaction.
&#8220;Strategic Transaction&#8221; means a transaction or a series of related transactions that results in an acquisition of the Company
by a third party, including by way of merger, purchase of capital stock or purchase of assets or change of control or otherwise.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8220;Strategic
Transaction Consideration&#8221; means any cash consideration and the fair market value of any non-cash consideration paid to us by any
acquirer as consideration for the Strategic Transaction, less the costs and expenses incurred by a purchaser for the purpose of consummating
a Strategic Transaction. We will pay to DisperSolar a percentage of all License Consideration received by a prospective purchaser as
follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.8%
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.7%
    of the next $100 million of the Strategic Transaction Consideration (i.e., over $50 million and up to $150 million); and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td>
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the event that we have a dispute with DisperSolar regarding the Agreement, whether over milestone payments, earnout payments, royalty
payments or Strategic Transaction Consideration with DisperSolar, or any other issue regarding the Agreement, Ms. Shahak Ravid and Mr.
Booth would be in a situation where they, as our Chief Science Officer and Chief Technology Officer, respectively, have fiduciary duties
to act in the best interests of us, while at the same time, a fiduciary duty to act in the best interest of DisperSolar, which is not
possible. If Ms. Shahak Ravid is simultaneously our Chief Science Officer, and/or Mr. Booth is simultaneously our Chief Technology Officer,
while DisperSolar is engaged in a dispute with us, Ms. Shahak Ravid and/or Mr. Booth may be unwilling to perform their duties as Chief
Science Officer and Chief Technology Officer to us with the same conviction and interest as when they would not be in a dispute with
us. In such a situation, if Ms. Shahak Ravid and/or Mr. Booth would refuse to resign from their respective positions as Chief Science
Officer and Chief Technology Officer, our board of directors may have to vote to remove them from their respective positions as Chief
Science Officer and Chief Technology Officer, which could trigger litigation, a refusal of Ms. Shahak Ravid and/or Mr. Booth to disclose
critical know-how to us, or cause disruptions in our operations and/or us suffer losses.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risks
Related to Our Intellectual Property</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
failure to protect our intellectual property may significantly impair our competitive advantage.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
success and ability to compete depend in large part upon protecting our proprietary intellectual property. We rely on a combination of
patent protection, trademark and trade secret protection, nondisclosure and nonuse agreements to protect our proprietary rights. The
steps we have taken may not be sufficient to prevent the misappropriation of our intellectual property, particularly in foreign countries
where the laws may not protect our proprietary rights as fully as in the United States. The patent and trademark law and trade secret
protection may not be adequate to deter third party infringement or misappropriation of our patents, trademarks and similar proprietary
rights.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
patent prosecution process is expensive, time-consuming and complex, and we may not be able to file, prosecute, maintain, enforce or
license all necessary or desirable patent applications at a reasonable cost or in a timely manner. We may not be able to obtain or maintain
patent applications and patents due to the subject matter claimed in such patent applications and patents being in disclosures in the
public domain. We have filed patent applications both in the United States and abroad seeking protection of our inventions originating
from our research and development. Our patent applications may not result in issued patents, and any patents that are issued may not
provide meaningful protection against competitors or competitive technologies. Further, the examination process may require us to narrow
the claims for our pending patent applications, which may limit the scope of patent protection that may be obtained if these applications
issue. The scope of a patent may also be reinterpreted and significantly reduced after issuance. Even if patent applications we license
or own currently or in the future issue as patents, they may not issue in a form that will provide us with any meaningful protection,
prevent competitors or other third parties from competing with us, or otherwise provide us with the protection or competitive advantages
we are seeking.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
of our patents, including those we may license, may be challenged, invalidated, rendered unenforceable or circumvented. Consequently,
we do not know whether any of our products will be protectable or remain protected by valid and enforceable patents. We may not prevail
if our patents are challenged by competitors or other third parties. The United States federal courts or equivalent national courts or
patent offices elsewhere may invalidate our patents, find them unenforceable, or narrow their scope. Furthermore, competitors may be
able to design around our patents by developing similar or alternative technologies or products in a non-infringing manner, or obtain
patent protection for more effective technologies, designs or methods. If these developments were to occur, our products may become less
competitive and sales may decline.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Various
courts, including the United States Supreme Court, have rendered decisions that affect the scope of patentability of certain inventions
or discoveries relevant to some aspects of our technology. These decisions state, among other things, that a patent claim that recites
an abstract idea, natural phenomenon or law of nature are not themselves patentable. Precisely what constitutes a law of nature or abstract
idea is uncertain, and it is possible that certain aspects of our technology could be considered unpatentable under applicable law. As
a result, the issuance, scope, validity, enforceability, and commercial value of our patent rights are highly uncertain. Depending on
decisions by the United States Congress, the federal courts and the United States Patent and Trademark Office (USPTO), the laws and regulations
governing patents could change in unpredictable ways that would weaken our ability to obtain new patents or to enforce our existing patents
and patents that we might obtain or in-license in the future. Additionally, our pending and future patent applications may not result
in patents being issued which protect our technology or products or which effectively prevent others from commercializing competitive
technologies and products. In fact, patent applications may not issue as patents at all. In addition, the coverage claimed in a patent
application can be significantly reduced before the patent is issued, and its scope can be reinterpreted after issuance. The scope of
patent protection outside of the United States is also uncertain. Changes in either the patent laws or their interpretation in the United
States and other countries may diminish our ability to protect our inventions, obtain, maintain, protect, defend and enforce our intellectual
property rights and, more generally, could affect the value of our intellectual property rights or narrow the scope of our patents.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
we are unable to obtain and maintain patent protection for our technology in a particular jurisdiction, or if the scope of the patent
protection obtained is not sufficient, our competitors could develop and commercialize products similar or superior to ours, and our
competitive position may be adversely affected. It is also possible that we will fail to identify patentable aspects of inventions made
in the course of our development and commercialization activities before it is too late to obtain patent protection on them. Therefore,
we may miss potential opportunities to strengthen our patent position. In addition, the patent prosecution process is expensive, time-consuming
and complex, and we may not be able to file, prosecute, maintain, enforce or license all necessary or desirable patent applications at
a reasonable cost or in a timely manner. Although we enter into non-disclosure and confidentiality agreements with parties who have access
to confidential or patentable aspects of our research and development output, such as our employees, consultants, advisors, contract
manufacturers and other third parties, any of these parties may breach such agreements and disclose such output before a patent application
is filed, thereby jeopardizing our ability to seek patent protection. Consequently, we may not be able to prevent any third party from
using any of our technology that is in the public domain to compete with our products.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
we are unable to protect the confidentiality of our trade secrets, our business and competitive position may be harmed.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition to seeking patent protection to protect the intellectual property underlying our products, we also rely upon unpatented trade
secrets, know-how and continuing technological innovation to develop and maintain a competitive position. For example, we primarily rely
on protecting our proprietary software and algorithms as a trade secret. However, trade secrets and know-how can be difficult to protect.
While we endeavor to protect such proprietary information and trade secrets, in part, through confidentiality agreements with our employees,
collaborators, contractors, advisors, consultants and other third parties who have access to, or house or host such information, and
invention assignment agreements with our employees, consultants and other third parties involved in the development of intellectual property,
there is no guarantee such efforts will succeed. The confidentiality agreements are designed to protect our proprietary information and,
in some cases, our trade secrets and, in the case of agreements or clauses containing invention assignment, to grant us ownership of
intellectual property and technologies that are developed through a relationship with such employees, consultants or other third parties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
cannot guarantee that we have entered into such agreements with each party that has or may have had access to, or houses or hosts, our
trade secrets or proprietary information or that has been involved in the development of intellectual property. Additionally, despite
these efforts, any of these parties may breach the agreements and disclose our proprietary information, including our trade secrets,
and we may not be able to obtain adequate remedies for such breaches. We may not be able to prevent the unauthorized disclosure or use
of our technical know-how or other trade secrets by the parties to these agreements. Monitoring unauthorized uses and disclosures is
difficult and we do not know whether the steps we have taken to protect our proprietary technologies will be effective. Enforcing a claim
that a party illegally disclosed or misappropriated a trade secret is difficult, expensive and time-consuming, and the outcome is unpredictable.
In addition, some courts inside and outside the United States are less willing or unwilling to protect trade secrets.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, if any of our trade secrets were to be lawfully obtained or independently developed by a competitor or other third party, we
would have no right to prevent them, or those to whom they communicate such trade secrets, from using that technology or information
to compete with us. If any of our trade secrets were to be disclosed to, or independently developed by, a competitor or other third party,
our competitive position would be materially and adversely harmed. Furthermore, we expect these trade secrets, know-how and proprietary
information to over time be disseminated within the industry through independent development, the publication of journal articles describing
the methodology and the movement of personnel from academic to industry scientific positions. Consequently, we may be unable to prevent
our proprietary technology from being exploited in the United States and abroad, which could affect our ability to expand in domestic
and international markets or require costly efforts to protect our technology.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
also seek to preserve the integrity and confidentiality of our data and trade secrets by maintaining physical security of our premises
and physical and electronic security of our information technology systems and cloud storage sources, but such security measures may
be breached, including through cyber-hacking or cyberattacks, and we may not have adequate remedies for any breach. In addition, our
trade secrets may otherwise become known, or be independently discovered by, competitors. To the extent that our employees, consultants,
contractors, collaborators or other third parties use intellectual property rights owned by others in their work for us, disputes may
arise as to the rights in related or resulting know-how and inventions, which could have a material adverse effect on our business, financial
condition and results of operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
may be subject to claims that we or our employees, consultants, advisors or contractors have misappropriated the intellectual property
rights of a third party, including trade secrets or know-how, or are in breach of non-competition or non-solicitation agreements with
our competitors, and third parties may claim an ownership interest in intellectual property we regard as our own.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Some
of our employees, consultants, advisors or contractors are currently or were previously employed at or engaged by universities or other
companies, including our competitors or potential competitors. Some of these employees, consultants, advisors and contractors, may have
executed proprietary rights, non-disclosure and non-competition agreements in connection with such previous employment. Although we try
to ensure that our employees, consultants, advisors and contractors do not use the intellectual property rights, proprietary information,
know-how or trade secrets of others in their work for us, we may be subject to claims that we or these individuals have, inadvertently
or otherwise, used, infringed, misappropriated or otherwise violated the intellectual property rights or disclosed the alleged trade
secrets or other proprietary information, of these former employers, competitors or other third parties, or to claims that we have improperly
used or obtained such trade secrets. Litigation may be necessary to defend against these claims. If we fail in defending such claims,
in addition to paying monetary damages, we may lose valuable intellectual property rights or personnel, which could adversely impact
our business. An adverse determination may also result in loss of exclusivity or freedom to operate or in patent claims being narrowed,
invalidated or held unenforceable, in whole or in part, which could limit our ability to stop others from using or commercializing similar
technology, without payment to us, or could limit the duration of the patent protection covering our products. Such challenges may also
result in our inability to develop, manufacture or commercialize our products without infringing third-party patent rights. An inability
to incorporate technologies or features that are important or essential to our products could have a material adverse effect on our business,
financial condition and results of operations, and may prevent us from selling our current and/or planned products. Any litigation or
the threat of litigation may adversely our reputation, or affect our ability to hire employees or contract with independent contractors.
A loss of intellectual property, key personnel or their work product could hamper or prevent our ability to develop and commercialize
new products, which could harm our business. Even if we are successful in defending against these claims, litigation could result in
irreparable damage, substantial costs and be a distraction to management and other employees. Any of the foregoing could have a material
adverse effect on our business, financial condition, results of operations and prospects.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally,
we may be subject to claims from third parties challenging our ownership interest in intellectual property rights we regard as our own,
including based on claims that our employees, consultants, advisors or contractors have breached an obligation to assign inventions to
another employer, to a former employer, or to another person or entity. Litigation may be necessary to defend against any other claims,
and it may be necessary or we may desire to enter into a license to settle any such claim; however, there can be no assurance that we
would be able to obtain a license on commercially reasonable terms, if at all. If our defense to those claims fails, in addition to paying
monetary damages, a court could prohibit us from using technologies or features that are essential to our products, if such technologies
or features are found to incorporate or be derived from the trade secrets or other proprietary information of the former employers.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, while it is our policy to require our employees, consultants, advisors, contractors and other third parties who may be involved
in the conception or development of intellectual property rights to execute agreements assigning such intellectual property rights to
us, we may be unsuccessful in executing such an agreement with each party who, in fact, conceives or develops intellectual property rights
that we regard as our own. The assignment of intellectual property rights may not be self-executing, or the assignment agreements may
be breached, and we may be forced to bring claims against third parties, or defend claims that they may bring against us, to determine
the ownership of what we regard as our intellectual property rights. Furthermore, individuals executing agreements with us may have preexisting
or competing obligations to a third party, such as an academic institution, and thus an agreement with us may be ineffective in perfecting
ownership of inventions developed by that individual. Such claims could have a material adverse effect on our business, financial condition,
results of operations, and prospects.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Changes
in patent law could diminish the value of patents in general, thereby impairing our ability to protect our existing and future products.</i></b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Patent
reform legislation could increase the uncertainties and costs surrounding the prosecution of patent applications and the enforcement
or defense of issued patents. In 2011, the Leahy-Smith America Invents Act (Leahy-Smith Act) was signed into law. The Leahy-Smith Act
includes a number of significant changes to United States patent law. These include provisions that affect the way patent applications
are prosecuted and also may affect patent litigation. These also include provisions that switched the United States from a first-to-invent
system to a first-inventor-to-file system, allow third-party submission of prior art to the USPTO during patent prosecution and set forth
additional procedures to attack the validity of a patent by the USPTO administered post grant proceedings, including post-grant review,
<i>inter partes</i> review and derivation proceedings. Under a first-inventor-to-file system, assuming the other requirements for patentability
are met, the first inventor to file a patent application generally will be entitled to the patent on an invention regardless of whether
another inventor was the first to invent the claimed invention. The USPTO recently developed new regulations and procedures to govern
administration of the Leahy-Smith Act, and many of the substantive changes to patent law associated with the Leahy-Smith Act, and in
particular, the first to file provisions, became effective in 2013. The Leahy-Smith Act and its implementation could increase the uncertainties
and costs surrounding the prosecution of our patent applications and the enforcement or defense of our issued patents, all of which could
have a material adverse effect on our business, financial condition and results of operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, patent reform legislation may pass in the future that could lead to additional uncertainties and increased costs surrounding
the prosecution, enforcement and defense of our patents and applications. Furthermore, the United States Supreme Court and the United
States Court of Appeals for the Federal Circuit have made, and will likely continue to make, changes in how the patent laws of the United
States are interpreted. Recent United States Supreme Court rulings have narrowed the scope of patent protection available in certain
circumstances and weakened the rights of patent owners in certain situations. This combination of events has created uncertainty with
respect to the validity and enforceability of patents, once obtained. Similarly, foreign courts have made, and will likely continue to
make, changes in how the patent laws in their respective jurisdictions are interpreted. We cannot predict future changes in the interpretation
of patent laws or changes to patent laws that might be enacted into law by United States and foreign legislative bodies. Those changes
may materially affect our patents or patent applications and our ability to obtain additional patent protection in the future. Any of
the foregoing could have a material adverse effect on our business, financial condition, results of operations and prospects.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
our trademarks and tradenames are not adequately protected, then we may not be able to build name recognition in our markets and our
business may be adversely affected.</i></b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
current and future trademark applications in the United States and in foreign jurisdictions may not be allowed or may subsequently be
opposed. Once filed and registered, our trademarks or trade names may be challenged, infringed, circumvented, declared generic or determined
to be violating or infringing on other marks. We may not be able to protect our rights to these trademarks and trade names or may be
forced to stop using these trademarks or trade names, which we need to build name recognition among potential partners and customers
in our markets of interest. At times, competitors or other third parties may adopt trade names or trademarks similar to ours, thereby
impeding our ability to build brand identity and possibly leading to market confusion. As a means to enforce our trademark rights and
prevent infringement, we may be required to file trademark claims against third parties or initiate trademark opposition proceedings,
which can be expensive and time-consuming. In addition, there could be potential trade name or trademark infringement or dilution claims
brought by owners of other trademarks. Over the long term, if we are unable to establish name recognition based on our trademarks and
trade names, then we may not be able to compete effectively and our business may be adversely affected.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have not yet registered certain trademarks in all of our potential markets. If we apply to register trademarks in the United States and
other countries, our applications may not be allowed for registration in a timely fashion or at all, and our registered trademarks may
not be maintained or enforced. During trademark registration proceedings, we may receive rejections. Although we would be given an opportunity
to respond to those rejections, we may be unable to overcome such rejections. In addition, in the USPTO and in comparable agencies in
many foreign jurisdictions, third parties are given an opportunity to oppose pending trademark applications and to seek to cancel registered
trademarks. Opposition or cancellation proceedings may be filed against our trademark applications and registrations, and our trademarks
may not survive such proceedings. If we do not secure registrations for our trademarks, we may encounter more difficulty in enforcing
them against third parties than we otherwise would.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
efforts to enforce or protect our rights related to trademarks, trade secrets, domain names or other intellectual property rights may
be ineffective, could result in substantial costs and diversion of resources and could adversely affect our business, financial condition
and results of operations.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
may become involved in lawsuits to protect or enforce our patents or other intellectual property rights, which could be expensive, time
consuming and unsuccessful.</i></b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Competitors
or other third parties may infringe, misappropriate or otherwise violate our patents or other intellectual property rights, or we may
be required to defend against claims of infringement, misappropriation or other violations. In addition, our patents also may become
involved in inventorship, priority or validity disputes. To counter or defend against such claims can be expensive and time-consuming.
Any claims we assert against perceived infringers could provoke those parties to assert counterclaims against us alleging that we infringe
their patents or other intellectual property or that our intellectual property is invalid or unenforceable. In any such proceeding, a
court or other administrative body may decide that a patent or other intellectual property right owned by us is invalid or unenforceable,
or may refuse to stop the other party from using the technology at issue on the grounds that our patents do not cover such technology.
Grounds for a validity challenge could include an alleged failure to meet any of several statutory requirements, including lack of novelty,
obviousness, lack of written description, non-enablement or failure to claim patent-eligible subject matter. Grounds for an unenforceability
assertion could include an allegation that someone connected with prosecution of the patent withheld information material to patentability
from the USPTO, or made a misleading statement, during prosecution. Third parties also may raise similar claims before administrative
bodies in the United States or abroad, even outside the context of litigation. Such mechanisms include reexamination, post-grant review,
<i>inter partes </i>review, interference proceedings, derivation proceedings and equivalent proceedings in foreign jurisdictions, including
opposition proceedings. Such proceedings could result in the revocation or cancellation of or amendment to our patents in such a way
that they no longer cover our products or prevent third parties from competing with our products. The outcome following legal assertions
of invalidity and unenforceability is unpredictable. With respect to the validity question, for example, we cannot be certain that there
is no invalidating prior art, of which the patent examiner and we or our partners were unaware during prosecution. If a third party were
to prevail on a legal assertion of invalidity or unenforceability, we could lose at least part, and perhaps all, of the patent protection
on our products. An adverse result in any litigation or other proceeding could put one or more of our patents at risk of being invalidated
or interpreted narrowly. Furthermore, because of the substantial amount of discovery required in connection with intellectual property
litigation, there is a risk that some of our confidential information could be compromised by disclosure during litigation.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Moreover,
some of our owned and patents and patent applications may in the future be co-owned with third parties. If we are unable to obtain an
exclusive license to any such third party co-owners&#8217; interest in such patents or patent applications, such co-owners may be able
to license their rights to other third parties, including our competitors, and our competitors could market competing products or technology.
In addition, we may need the cooperation of any such co-owners of our patents in order to enforce such patents against third parties,
and such cooperation may not be provided to us. Any of the foregoing could have a material adverse effect on our business, financial
condition or results of operations.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Even
if resolved in our favor, litigation or other proceedings relating to intellectual property claims may cause us to incur significant
expenses and could distract our management and other personnel from their normal responsibilities. In addition, there could be public
announcements of the results of hearings, motions or other interim proceedings or developments, and if securities analysts or investors
perceive these results to be negative, it could have a substantial adverse effect on the price of our securities. Such litigation or
proceedings could substantially increase our operating losses and reduce the resources available for development activities or any future
sales, marketing or distribution activities. We may not have sufficient financial or other resources to conduct such litigation or proceedings
adequately. Some of our competitors may be able to sustain the costs of such litigation or proceedings more effectively than we can because
of their greater financial resources and more mature and developed intellectual property portfolios. Uncertainties resulting from the
initiation and continuation of patent litigation or other proceedings could have a material adverse effect on our ability to compete
in the marketplace. Any of the foregoing could have a material adverse effect on our business, financial condition or results of operations.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Third
parties may initiate legal proceedings alleging that we are infringing, misappropriating, or otherwise violating their intellectual property
rights, the outcome of which would be uncertain and could have a material adverse effect on the success of our business.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
intellectual property landscape in the field of agriculture is in flux, and it may remain uncertain for the coming years. There may be
significant intellectual property related litigation and proceedings relating to our intellectual property position and proprietary rights
in the future. Given the number of patents in our field of technology, we cannot be certain or guarantee that we do not infringe existing
patents or that we will not infringe patents that may be granted in the future. As we move into new markets and applications for our
products, incumbent participants in such markets may assert their patents and other intellectual property rights against us as a means
of slowing our entry into such markets or as a means of extracting substantial license and royalty payments from us. Our competitors
and others may now and, in the future, have significantly larger and more mature patent portfolios than we currently have. In addition,
future litigation may involve patent holding companies or other adverse patent owners who have no relevant product or service revenue
and against whom our own patents may provide little or no deterrence or protection. Therefore, our commercial success depends in part
on our ability and the ability of our future collaborators to develop, manufacture, market and sell our products and use our proprietary
technologies without infringing, misappropriating or otherwise violating the patents or other intellectual property rights of third parties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Third
parties may assert infringement, misappropriation or other violation claims against us based on existing patents, patents or other intellectual
property that may be granted in the future, regardless of their merit. Therefore, we may in the future be subject to claims that we,
or other parties we have agreed to indemnify, infringe, misappropriate or otherwise violate patents or other intellectual property rights
owned or controlled by third parties. Because patent applications are published sometime after filing, and because applications can take
several years to issue, there may be additional currently pending third-party patent applications that are unknown to us, which may later
result in issued patents. Defense of these claims, regardless of their merit, would involve substantial litigation expenses and would
be a substantial diversion of management and employee resources from our business. We may not have sufficient resources to bring these
actions to a successful conclusion. There is a substantial amount of litigation and other patent challenges, both within and outside
the United States, involving patent and other intellectual property rights, including patent infringement lawsuits, interferences, oppositions
and <i>inter partes</i> review proceedings before the USPTO, and corresponding foreign patent offices. As the agriculture technology
industry expands and more patents are issued, the risk increases that our products and technologies may be subject to claims of infringement
of the patent rights of third parties. Numerous significant intellectual property issues may be litigated, between existing and new participants
in our existing and targeted markets, and competitors may assert that our products and technologies infringe, misappropriate or otherwise
violate their intellectual property rights as part of a business strategy to impede our successful entry into or growth in those markets.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
could incur substantial costs and divert the attention of our management and technical personnel in defending against any of these claims.
Parties making claims against us may be able to sustain the costs of complex patent litigation more effectively than we can because they
have substantially greater resources.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because
of the inevitable uncertainty in intellectual property litigation, we could lose a patent infringement or other intellectual property-related
action asserted against us regardless of our perception of the merits of the case. Patent and other types of intellectual property litigation
can involve complex factual and legal questions, and their outcome is uncertain. There is no assurance that a court would find in our
favor on questions of infringement, validity, enforceability, or priority. A court of competent jurisdiction could hold that third-party
patents which are asserted against us are valid, enforceable, and infringed, which could materially and adversely affect our ability
to commercialize any future products we may develop and any other future products or technologies covered by the asserted third party
patents. In order to successfully challenge the validity of any such United States patent in federal court, we would need to overcome
a presumption of validity. As this burden is a high one requiring us to present clear and convincing evidence as to the invalidity of
any such United States patent claim, there is no assurance that a court of competent jurisdiction would invalidate the claims of any
such United States patent or find that our technology did not infringe any such claims. Further, even if we were successful in defending
against any such claims, such claims could require us to divert substantial financial and management resources that we would otherwise
be able to devote to our business.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Parties
making infringement, misappropriation or other violation of intellectual property claims against us may be able to obtain injunctive
or other relief, which could block our ability to develop, commercialize and sell our products, and could result in the award of substantial
damages against us, including treble damages, attorney&#8217;s fees, costs, and expenses if we are found to have willfully infringed.
In the event of a successful claim of infringement against us, we may be required to pay damages and ongoing royalties, which could be
significant, re-design our products in a non-infringing manner, which may not be commercially feasible, obtain one or more licenses from
third parties, or be prohibited from selling certain products. If we are required to obtain licenses from third parties, we may not be
able to obtain such licenses on acceptable or commercially reasonable terms, if at all, or these licenses may be non-exclusive, which
could result in our competitors gaining access to the same intellectual property. In addition, we could encounter delays in product introductions
while we attempt to develop alternative products to avoid infringing third-party patents or intellectual property rights. Any of the
foregoing could have a material adverse effect on our business, results of operation, financial condition and prospects. Defense of any
lawsuit or failure to obtain any of these licenses could prevent us from commercializing our technologies and products, and the prohibition
of sale of any of our products could materially affect our business and our ability to gain market acceptance for our products.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">It
is also possible that we have failed to identify relevant third-party patents or applications. Because patent applications can take many
years to issue, may be confidential for 18 months or more after filing and can be revised before issuance, there may be applications
now pending which may later result in issued patents that may be infringed by our products and we may not be aware of such patents. Furthermore,
applications filed before November 29, 2000 and certain applications filed after that date that will not be filed outside the United
States may remain confidential until a patent issues. It is difficult for industry participants, including us, to identify all third-party
patent rights that may be relevant to our products because patent searching is imperfect due to differences in terminology among patents,
incomplete databases and the difficulty in assessing the meaning of patent claims. We may fail to identify relevant patents or patent
applications or may identify pending patent applications of potential interest but incorrectly predict the likelihood that such patent
applications may issue with claims of relevance to our technology. In addition, we may incorrectly conclude that a third-party patent
is invalid, unenforceable or not infringed by our activities. Additionally, pending patent applications that have been published can,
subject to certain limitations, be later amended in a manner that could cover our products.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furthermore,
because of the substantial amount of discovery required in connection with intellectual property litigation, there is a risk that some
of our confidential information could be compromised by disclosure during this type of litigation. In addition, during the course of
this kind of litigation, there could be public announcements of the results of hearings, motions or other interim proceedings or developments.
If securities analysts or investors perceive these results to be negative, it could have a substantial adverse effect on the price of
our securities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, our agreements with some of our customers, suppliers or other entities with whom we do business require us to defend or indemnify
these parties to the extent they become involved in infringement claims, including the types of claims described above. We could also
voluntarily agree to defend or indemnify third parties in instances where we are not obligated to do so if we determine it would be important
to our business relationships. If we are required or agree to defend or indemnify third parties in connection with any infringement claims,
we could incur significant costs and expenses that could adversely affect our business, operating results or financial condition.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Obtaining
and maintaining our patent protection depends on compliance with various required procedures, document submissions, fee payments and
other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated as a result of non-compliance
with these requirements.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Periodic
maintenance fees, renewal fees, annuity fees and various other governmental fees on patents and/or applications will be due to be paid
to the USPTO and various governmental patent agencies outside of the United States at several stages over the lifetime of the patents
and patent applications. We have systems in place to remind us to pay these fees, and we employ an outside firm and rely on our outside
counsel to pay these fees due to non-United States patent agencies. The USPTO and various non-US governmental patent agencies require
compliance with a number of procedural, documentary, fee payment and other similar provisions during the patent application process.
An inadvertent lapse or non-compliance with such requirements can sometimes be cured by payment of a late fee or by other means in accordance
with the applicable rules. However, there are situations in which non-compliance can result in abandonment or lapse of the patent or
patent application, resulting in partial or complete loss of patent rights in the relevant jurisdiction. In such an event, our competitors
may be able to enter the market without infringing our patents and this circumstance would have a material adverse effect on our business,
financial condition, results of operations and prospects.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Issued
patents covering our present and future products could be found invalid or unenforceable if challenged.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
issuance of a patent is not conclusive as to its inventorship, scope, validity or enforceability of our patents and patent applications
may be challenged in courts or patent offices in the United States and abroad. For example, we may be subject to third-party submissions
of prior art to the USPTO challenging the validity of one or more claims in our patents. Such submissions may also be made prior to a
patent&#8217;s issuance, precluding the granting of a patent based on one of our pending patent applications. We may also become involved
in opposition, derivation, reexamination, <i>inter partes</i> review, post-grant review or interference proceedings. Additionally, if
we initiate or become involved in legal proceedings against a third party to enforce a patent covering one of our products or technologies,
the defendant could counterclaim that the patent covering our products is invalid or unenforceable. In patent litigation in the United
States, counterclaims alleging invalidity or unenforceability are commonplace. The outcome following legal assertions of invalidity and
unenforceability is unpredictable. With respect to the validity question, for example, we cannot be certain that there is no invalidating
prior art of which we and the patent examiner were unaware during prosecution. If a third party were to prevail on a legal assertion
of invalidity or unenforceability, we would lose at least part, and perhaps all, of the patent protection on our current products and
other products that we may develop.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
successful third-party challenge to our patents could result in the unenforceability or invalidity of such patents, allow third parties
to commercialize our technology or products and compete directly with us, without payment to us, limit the scope and duration of the
patent protection of our products or result in our inability to manufacture or commercialize products without infringing third-party
patent rights, which could have a material adverse impact on our business. Furthermore, if the breadth or strength of protection provided
by our patents and patent applications is threatened, regardless of the outcome, it could dissuade companies from collaborating with
us to license, develop or commercialize current or future products. Such challenges also may result in substantial cost and require significant
time from our scientists and management, even if the eventual outcome in favorable to us.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Third
parties may have developed technologies that may be related or competitive to our own technologies and such third parties may have filed
or may file patent applications, or may have obtained or may obtain patents, claiming inventions that may overlap or conflict with those
claimed in our patent applications or issued patents. We may not be aware of all third-party intellectual property rights potentially
relating to our current or future products. Publications of discoveries in the scientific literature often lag behind the actual discoveries,
and patent applications in the United States and other jurisdictions are typically not published until approximately 18 months after
filing or, in some cases, not until such patent applications issue as patents or at all. We, or our current or future license partners
or collaborators, might not have been the first to make the inventions covered by each of our pending patent applications and we might
not have been the first to file patent applications for these inventions. To determine the priority of these inventions, we may have
to participate in interference proceedings, derivation proceedings or other post-grant proceedings declared by the USPTO. The outcome
of such proceedings is uncertain, and other patent applications may have priority over our patent applications. Such proceedings could
also result in substantial costs to us and divert our management&#8217;s attention and resources. If a third party can establish that
we were not the first to make or the first to file for patent protection of such inventions, our patent applications may not issue as
patents and even if issued, may be challenged and invalidated or rendered unenforceable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Patent
terms may be inadequate to protect our competitive position on our products for an adequate amount of time.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Patents
have a limited lifespan. In the United States, if all maintenance fees are timely paid, the natural expiration of a patent is generally
20 years from its earliest United States non-provisional filing date. Various extensions may be available, but the life of a patent,
and the protection it affords, is limited.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Even
if patents covering our products are obtained, once the patent life has expired, we may be open to competition from competitive products.
As a result, our owned and licensed patent portfolio may not provide us with sufficient rights to exclude others from commercializing
products similar or identical to ours.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
may not be able to protect our intellectual property rights throughout the world.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Third
parties may attempt to develop and commercialize competitive products in foreign countries where we do not own any patents or patent
applications or where legal recourse may be limited. This may have a significant commercial impact on our foreign business operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filing,
prosecuting and defending patents on our products in all countries throughout the world would be prohibitively expensive, and the laws
of foreign countries may not protect our rights to the same extent as the laws of the United States, even in jurisdictions where we do
pursue patent protection. In some cases, we may not be able to obtain patent protection for certain products outside the United States.
Consequently, we may not be able to prevent third parties from practicing our inventions in all countries outside the United States,
even in jurisdictions where we a do pursue patent protection, or from selling or importing products made using our inventions in and
into the United States or other jurisdictions. Competitors may use our other products and technologies in jurisdictions where we have
not obtained patent protection to develop their own products and, further, may export otherwise infringing products to territories where
we have patent protection but enforcement is not as strong as that in the United States. These products may compete with our products
and our patents or other intellectual property rights may not be effective or sufficient to prevent them from competing.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Many
companies have encountered significant problems in protecting and defending intellectual property rights in foreign jurisdictions. The
legal systems of certain countries, particularly certain developing countries, do not favor the enforcement of patents, trade secrets
and other intellectual property protection, which could make it difficult for us to stop the infringement of our patents, if pursued
or obtained, or marketing of competing products in violation of our intellectual property rights generally. Proceedings to enforce our
intellectual property rights in foreign jurisdictions could result in substantial costs and divert our efforts and attention from other
aspects of our business, could put our patents at risk of being invalidated or interpreted narrowly, could put our patent applications
at risk of not issuing and could provoke third parties to assert claims against us. We may not prevail in any lawsuits that we initiate,
and the damages or other remedies awarded, if any, may not be commercially meaningful. Accordingly, our efforts to enforce our intellectual
property rights around the world may be inadequate to obtain a significant commercial advantage from the intellectual property that we
develop or license.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Many
countries, including India, China, and certain countries in Europe, have compulsory licensing laws under which a patent owner may be
compelled to grant licenses to third parties. In addition, many countries limit the enforceability of patents against government agencies
or government contractors. In these countries, the patent owner may have limited remedies, which could materially diminish the value
of such patent. If we or any of our future licensors are forced to grant a license to third parties with respect to any patents relevant
to our business, our competitive position may be impaired, and our business, financial condition and results of operations may be adversely
affected.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Intellectual
property rights do not necessarily address all potential threats.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 24pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
degree of current and future protection afforded by our intellectual property rights is uncertain because intellectual property rights
have limitations and may not adequately protect our business or permit us to maintain our competitive advantage. For example:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -24pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">others
    may be able to make products that are not covered by the claims of our patents or that incorporates certain technology in our products
    that is in the public domain;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we,
    or our current or future licensors or collaborators, might not have been the first to make the inventions covered by the applicable
    issued patent or pending patent application that we own or license now or may own or license in the future;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we,
    or our future licensors or collaborators, might not have been the first to file patent applications covering certain of our or their
    inventions;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">others
    may independently develop similar or alternative technologies or duplicate any of our technologies without infringing our intellectual
    property rights;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
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    is possible that our current or future pending patent applications will not lead to issued patents;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">issued
    patents that we hold rights to may be held invalid or unenforceable, including as a result of legal challenges by our competitors
    or other third parties;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">others
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    competitors or other third parties might conduct research and development activities in countries where we do not have patent rights
    and then use the information learned from such activities to develop competitive technologies and products for sale in our major
    commercial markets;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we
    may not develop additional proprietary technologies that are patentable;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    patents of others may harm our business; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we
    may choose not to file a patent in order to maintain certain trade secrets or know-how, and a third party may subsequently file a
    patent covering such intellectual property rights.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
of the foregoing could have a material adverse effect on our business, financial condition and results of operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risks
Related to Our Capital Structure</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
structure of our capital stock as contained in our Certificate of Incorporation, as amended, has the effect of concentrating voting control
with Jonathan Destler, limiting your ability to influence corporate matters.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Series A Preferred Stock entitles its holder to a number of votes that is equal to 110% of the issued and outstanding shares of our common
stock, and our common stock, which is the stock we are offering in this initial public offering, has one vote per share. Our co-founder,
director and Chief Executive Officer, Jonathan Destler, owns the sole outstanding share of our Series A Preferred Stock. The holders
of our outstanding common stock, excluding Mr. Destler, will hold&#160;&#160;&#160;&#160;&#160;% of the voting power of our outstanding capital stock following
this offering, with Mr. Destler holding&#160;&#160;&#160;&#160;% of such voting power in the aggregate, assuming an initial public offering price of $&#160;&#160;&#160;&#160;&#160;
per unit (which is the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus)
and assuming no exercise of the underwriters&#8217; option to purchase additional shares. Mr. Destler will retain greater than 50% of
the voting power even if he reduces, potentially significantly, his economic interest in shares of our common stock. Therefore, Mr. Destler
will control our management and affairs and all matters requiring stockholder approval, including election of directors and significant
corporate transactions, such as a merger or other sale of us or our assets, for the foreseeable future. Additionally, each share of Series
A Preferred Stock shall automatically convert into one share of common stock upon the first to occur of (a) a transfer of such share
of Series A Preferred Stock other than to Mr. Destler, (b) the death or incapacity of Mr. Destler, or (c) the resignation of Mr. Destler
as an officer of our company. Each share of Series A Preferred Stock is convertible into one share of common stock, at the election of
the holder of the Series A Preferred Stock.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">So
long as Mr. Destler holds his one share of Series A Preferred Stock, he will have voting control of us. This concentrated control will
limit your ability to influence corporate matters for the foreseeable future, and, as a result, the market price of our common stock
could be adversely affected.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a board member, Mr. Destler owes a fiduciary duty to our stockholders and must act in good faith in a manner he reasonably believes to
be in the best interests of our stockholders. As a stockholder, even a controlling stockholder, Mr. Destler is entitled to vote his shares
in his own interests, which may not always be in the interests of our stockholders generally.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
Co-founder, Chairman and Chief Executive Officer will continue to own a significant percentage of our common stock and our Series A Preferred
Stock and will be able to exert significant control over matters subject to stockholder approval.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jonathan
Destler, our co-founder, Chairman and Chief Executive Officer, currently beneficially owns common stock and Series A Preferred Stock
that provide him with % of the voting power of our voting stock. Upon the closing of this offering, he will beneficially own approximately
% of the voting power of our outstanding voting stock, assuming an initial public offering price of $ per unit (which is the midpoint
of the estimated range of the initial public offering price shown on the cover page of this prospectus) and assuming no exercise of the
underwriters&#8217; option to purchase additional shares. Therefore, even after this offering, he will have the ability to control us
through this ownership position. For example, he may be able to control elections of directors, amendments of our organizational documents,
or approval of any merger, sale of assets, or other major corporate transaction. Mr. Destler&#8217;s interests may not always coincide
with our corporate interests or the interests of other stockholders, and he may act in a manner with which you may not agree or that
may not be in the best interests of our other stockholders. So long as he continues to owns his sole share of Series A Preferred Stock
or a significant amount of our equity, he will continue to be able to effectively control our decisions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
structure of our capital stock, involving Series A Preferred Stock, may adversely affect the trading market for our securities.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
stock index providers, such as S&amp;P Dow Jones, Russell 2000, S&amp;P 500, S&amp;P MidCap 400 and S&amp;P SmallCap 600 exclude companies
with multiple classes of capital stock from being added to certain stock indices. In addition, several stockholder advisory firms and
large institutional investors oppose the use of multiple class structures. As a result, the dual class structure of our capital stock
may prevent the inclusion of our common stock in such indices, may cause stockholder advisory firms to publish negative commentary about
our corporate governance practices or otherwise seek to cause us to change our capital structure, and may result in large institutional
investors not purchasing shares of our common stock. Any exclusion from stock indices could result in a less active trading market for
our securities. Any actions or publications by stockholder advisory firms or institutional investors critical of our corporate governance
practices or capital structure could also adversely affect the value of our securities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risks
Associated With This Offering</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
will incur increased costs as a result of operating as a public company, and our management will be required to devote substantial time
to new compliance initiatives.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a public company, we will incur significant legal, accounting and other expenses that we did not incur as a private company. We will
be subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, or the Exchange Act, which will require,
among other things, that we file with the SEC annual, quarterly and current reports with respect to our business and financial condition.
In addition, the Sarbanes-Oxley Act of 2002, as amended, or Sarbanes-Oxley Act, as well as rules subsequently adopted by the SEC and
the Nasdaq Capital Market to implement provisions of the Sarbanes-Oxley Act, impose significant requirements on public companies, including
requiring establishment and maintenance of effective disclosure and financial controls and changes in corporate governance practices.
Further, in July 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act, or the Dodd-Frank Act, was enacted. There are significant
corporate governance and executive compensation related provisions in the Dodd-Frank Act that require the SEC to adopt additional rules
and regulations in these areas, such as &#8220;say on pay&#8221; and proxy access. Emerging growth companies may implement many of these
requirements over a longer period and up to five years from the pricing of this offering. We intend to take advantage of these extended
transition periods, but cannot guarantee that we will not be required to implement these requirements sooner than budgeted or planned
and thereby incur unexpected expenses. Stockholder activism, the current political environment and the current high level of government
intervention and regulatory reform may lead to substantial new regulations and disclosure obligations, which may lead to additional compliance
costs and impact the manner in which we operate our business in ways we cannot currently anticipate.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
expect the rules and regulations applicable to public companies to substantially increase our legal and financial compliance costs and
to make some activities more time-consuming and costly. If these requirements divert the attention of our management and personnel from
other business concerns, they could have a material adverse effect on our business, financial condition and results of operations. The
increased costs will decrease our net income or increase our net loss and may require us to reduce costs in other areas of our business
or increase the prices of our products or services. For example, we expect these rules and regulations to make it more difficult and
more expensive for us to obtain director and officer liability insurance and we may be required to incur substantial costs to maintain
the same or similar coverage. We cannot predict or estimate the amount or timing of additional costs we may incur to respond to these
requirements. The impact of these requirements could also make it more difficult for us to attract and retain qualified persons to serve
on our board of directors, our board committees or as executive officers.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
we fail to establish and maintain proper and effective internal control over financial reporting, our operating results and our ability
to operate our business could be harmed.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ensuring
that we have adequate internal financial and accounting controls and procedures in place so that we can produce accurate financial statements
on a timely basis is a costly and time-consuming effort that needs to be re-evaluated frequently. Our internal control over financial
reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation
of financial statements in accordance with generally accepted accounting principles. In connection with this offering, we intend to begin
the process of documenting, reviewing and improving our internal controls and procedures for compliance with Section 404 of the Sarbanes-Oxley
Act, which will require annual management assessment of the effectiveness of our internal control over financial reporting. We have begun
recruiting additional finance and accounting personnel with certain skill sets that we will need as a public company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Implementing
any appropriate changes to our internal controls may distract our officers and employees, entail substantial costs to modify our existing
processes, and take significant time to complete. These changes may not, however, be effective in maintaining the adequacy of our internal
controls, and any failure to maintain that adequacy, or consequent inability to produce accurate financial statements on a timely basis,
could increase our operating costs and harm our business. In addition, investors&#8217; perceptions that our internal controls are inadequate
or that we are unable to produce accurate financial statements on a timely basis may harm our the price of our securities and make it
more difficult for us to effectively market and sell any of our present or future product candidates that may receive regulatory approval.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
disclosure controls and procedures may not prevent or detect all errors or acts of fraud.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
completion of this offering, we will become subject to certain reporting requirements of the Exchange Act. Our disclosure controls and
procedures are designed to reasonably assure that information required to be disclosed by us in reports we file or submit under the Exchange
Act is accumulated and communicated to management, recorded, processed, summarized and reported within the time periods specified in
the rules and forms of the SEC. We believe that any disclosure controls and procedures or internal controls and procedures, no matter
how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met.
These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because
of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or
more people or by an unauthorized override of the controls. Accordingly, because of the inherent limitations in our control system, misstatements
or insufficient disclosures due to error or fraud may occur and not be detected.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
market price of our securities is likely to be volatile, which could result in substantial losses for purchasers of our securities in
this offering or could subject us to litigation.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
trading prices of the securities of technology companies have been highly volatile. Accordingly, the market price of our common stock
and warrants is likely to be subject to wide fluctuations. Factors affecting the market price of our common stock and warrants include:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">variations
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    net increases in the number of customers and paying subscriptions, either independently or as compared with published expectations
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">changes
    in the estimates of our operating results or changes in recommendations by securities analysts that elect to follow our securities;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">announcements
    of technological innovations, new services or service enhancements, strategic alliances or significant agreements by us or by our
    competitors;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">announcements
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">recruitment
    or departure of key personnel;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">disruptions
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    economy as a whole, market conditions in our industry, and the industries of our customers; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">trading
    activity by a limited number of stockholders who beneficially own a majority of our outstanding voting power.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, if the market for technology stocks or the stock market in general experiences uneven investor confidence, the market price
of our securities could decline for reasons unrelated to our business, operating results or financial condition. The market price of
our securities might also decline in reaction to events that affect other companies within, or outside, our industry even if these events
do not directly affect us. As a result of this volatility, you may not be able to sell your securities at or above the initial public
offering price. Some companies that have experienced volatility in the trading price of their securities have been the subject of securities
class action litigation. If we are to become the subject of such litigation, it could result in substantial costs and a diversion of
management&#8217;s attention and resources.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>An
active trading market for our securities may not develop, and you may not be able to resell your securities at or above the initial public
offering price.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to this offering, there has been no public market for shares of our common stock or warrants included in the units being offered. Although
we intend to apply to list shares of our common stock and warrants on The Nasdaq Capital Market, an active trading market for our common
stock and warrants may never develop or be sustained following this offering. The initial public offering price of our securities was
determined through negotiations between us and the underwriters. Among the factors considered in determining the initial offering price
were our future prospects and the prospects of our industry in general, our revenue, net income and certain other financial and operating
information in recent periods, and the financial ratios, market prices of securities and certain financial and operating information
of companies engaged in activities similar to ours. However, there can be no assurance that following this offering our shares of common
stock or warrants will trade at a price equal to or greater than the offering price. In the absence of an active trading market for our
securities, investors may not be able to sell their securities at or above the initial public offering price or at the time that they
would like to sell.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
failure to meet the continuing listing requirements of The NASDAQ Capital Market could result in a de-listing of our securities.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
we fail to satisfy the continuing listing requirements of NASDAQ, such as the corporate governance, stockholders&#8217; equity or minimum
closing bid price requirements, NASDAQ may take steps to delist our securities. Such a delisting would likely have a negative effect
on the price of our securities and would impair your ability to sell or purchase our securities when you wish to do so. In the event
of a delisting, we would likely take actions to restore our compliance with NASDAQ&#8217;s listing requirements, but we can provide no
assurance that any such action taken by us would allow our securities to become listed again, stabilize the market price or improve the
liquidity of our securities, prevent our securities from dropping below the NASDAQ minimum bid price requirement or prevent future non-compliance
with NASDAQ&#8217;s listing requirements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Our
securities may be subject to the &#8220;penny stock&#8221; rules of the SEC and the trading market in our securities is limited, which
makes transactions in our stock cumbersome and may reduce the value of an investment in our stock.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
SEC has adopted Rule 15g-9 which establishes the definition of a &#8220;penny stock,&#8221; for the purposes relevant to us, as any equity
security that has a market price of less than $5.00 per share or with an exercise price of less than $5.00 per share, subject to certain
exceptions. For any transaction involving a penny stock, unless exempt, the rules require:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">that
    a broker or dealer approve a person&#8217;s account for transactions in penny stocks; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    broker or dealer receive from the investor a written agreement to the transaction, setting forth the identity and quantity of the
    penny stock to be purchased.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
order to approve a person&#8217;s account for transactions in penny stocks, the broker or dealer must:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">obtain
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">make
    a reasonable determination that the transactions in penny stocks are suitable for that person and the person has sufficient knowledge
    and experience in financial matters to be capable of evaluating the risks of transactions in penny stocks.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
broker or dealer must also deliver, prior to any transaction in a penny stock, a disclosure schedule prescribed by the SEC relating to
the penny stock market, which:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">sets
    forth the basis on which the broker or dealer made the suitability determination; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Generally,
brokers may be less willing to execute transactions in securities subject to the &#8220;penny stock&#8221; rules. This may make it more
difficult for investors to dispose of our securities and cause a decline in the market value of our securities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Disclosure
also has to be made about the risks of investing in penny stocks in both public offerings and in secondary trading and about the commissions
payable to both the broker-dealer and the registered representative, current quotations for the securities and the rights and remedies
available to an investor in cases of fraud in penny stock transactions. Finally, monthly statements have to be sent disclosing recent
price information for the penny stock held in the account and information on the limited market in penny stocks.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shareholders
should be aware that, according to SEC Release No. 34-29093, the market for &#8220;penny stocks&#8221; has suffered in recent years from
patterns of fraud and abuse. Such patterns include (1) control of the market for the security by one or a few broker-dealers that are
often related to the promoter or issuer; (2) manipulation of prices through prearranged matching of purchases and sales and false and
misleading press releases; (3) boiler room practices involving high-pressure sales tactics and unrealistic price projections by inexperienced
sales persons; (4) excessive and undisclosed bid-ask differential and markups by selling broker-dealers; and (5) the wholesale dumping
of the same securities by promoters and broker-dealers after prices have been manipulated to a desired level, along with the resulting
inevitable collapse of those prices and with consequent investor losses. Our management is aware of the abuses that have occurred historically
in the penny stock market. Although we do not expect to be in a position to dictate the behavior of the market or of broker-dealers who
participate in the market, management will strive within the confines of practical limitations to prevent the described patterns from
being established with respect to our securities. Unless our securities are approved for listing on Nasdaq, the occurrence of these patterns
or practices could increase the future volatility of our share price.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
securities analysts do not publish research or reports about our business or if they publish negative evaluations of our stock, the price
of our stock could decline.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
trading market for our securities will rely in part on the research and reports that industry or financial analysts publish about us
or our business. We may never obtain research coverage by industry or financial analysts. If no or few analysts commence coverage of
us, the trading price of our stock would likely decrease. Even if we do obtain analyst coverage, if one or more of the analysts covering
our business downgrade their evaluations of our stock, the price of our stock could decline. If one or more of these analysts cease to
cover our stock, we could lose visibility in the market for our stock, which in turn could cause the price of our securities to decline.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
securities or industry analysts adversely change their recommendations regarding our securities or if our operating results do not meet
their expectations, the price of our securities could decline.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
trading market for our securities will be influenced by the research and reports that industry or securities analysts publish about us
or our business. If one or more of these analysts cease coverage of our company or fail to publish reports on us regularly, we could
lose visibility in the financial markets, which in turn could cause the price of our securities or trading volume to decline. Moreover,
if one or more of the analysts who cover our company downgrades our securities or if our operating results do not meet their expectations,
the price of our securities could decline.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>If
you purchase our securities in this offering, you will incur immediate and substantial dilution in the book value of your shares.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
will suffer immediate and substantial dilution in the net tangible book value of the common stock included in the units you purchase
in this offering. Based on the assumed initial public offering price of $ per unit, which is the midpoint of the estimated offering range
set forth on the cover page of this prospectus, and assuming no exercise of the warrants being offered in this offering, purchasers of
units in this offering will experience immediate dilution of $ per share (or $ per share if the underwriters exercise the over-allotment
option to purchase additional shares of common stock and warrants in full), with respect to the net tangible book value of the common
stock included in the units. In addition, investors purchasing units in this offering will contribute % of the total amount invested
by stockholders since inception but will only own % of the shares of common stock outstanding. In the past, we issued options and other
securities to acquire common stock at prices significantly below the initial public offering price. To the extent these outstanding securities
are ultimately exercised, investors purchasing units in this offering will sustain further dilution. See the section of this prospectus
titled &#8220;Dilution&#8221; for a more detailed description of the dilution to new investors in the offering.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
one share of Series A Preferred Stock held by Jonathan Destler entitles him to voting power equal to 110% of the issued and outstanding
shares of common stock. Therefore, the issuance of additional shares of our common stock will cause Mr. Destler&#8217;s voting power
to increase and further dilute the voting power of other stockholders. For example, if we issue 1,000,000 shares in this offering, Mr.
Destler&#8217;s voting power will increase by the equivalent of voting power equal to 1,100,000 shares of common stock. Issuing new shares
dilutes existing holders more than in a typical dual class structure, with simply voting and non-voting shares, and it may be very difficult
for the common stockholders to ever determine their voting power because of the variable voting rights of the Series A preferred stock.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>The
warrants may not have any value.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
warrants will be exercisable for five years from the date of initial issuance at an initial exercise price equal to 125% of the public
offering price per unit set forth on the cover page of this prospectus. There can be no assurance that the market price of our shares
of common stock will ever equal or exceed the exercise price of the warrants. In the event that the stock price of our shares of common
stock does not exceed the exercise price of the warrants during the period when the warrants are exercisable, the warrants may not have
any value.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Holders
of warrants purchased in this offering will have no rights as stockholders until such holders exercise their warrants and acquire shares
of our common stock.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Until
holders of the warrants purchased in this offering acquire shares of common stock upon exercise thereof, such holders will have no rights
with respect to the shares of common stock underlying the warrants. Upon exercise of the warrants, the holders will be entitled to exercise
the rights of a stockholder only as to matters for which the record date occurs after the date they were entered in the register of our
company as a stockholder.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Raising
additional capital may cause dilution to our stockholders, including purchasers of units in this offering, restrict our operations or
require us to relinquish rights to our technologies or current or future product candidates.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Until
such time, if ever, as we can generate substantial product revenues, we expect to finance our cash needs through a combination of private
and public equity offerings, debt financings, collaborations, strategic alliances and marketing, distribution or licensing arrangements.
To the extent that we raise additional capital through the sale of common stock or securities convertible or exchangeable into common
stock, your ownership interest will be diluted, and the terms of these securities may include liquidation or other preferences that materially
adversely affect your rights as a common stockholder. Debt financing, if available, would increase our fixed payment obligations and
may involve agreements that include covenants limiting or restricting our ability to take specific actions, such as incurring additional
debt, making capital expenditures or declaring dividends.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
we raise funds through additional collaborations, strategic alliances or marketing, distribution or licensing arrangements with third
parties, we may have to relinquish valuable rights to our intellectual property, future revenue streams, research programs or current
or future product candidates or to grant licenses on terms that may not be favorable to us. If we are unable to raise additional funds
through equity or debt financings when needed, we may be required to delay, scale back or discontinue the development and commercialization
of one or more of our product candidates, delay our pursuit of potential in-licenses or acquisitions or grant rights to develop and market
current or future product candidates that we would otherwise prefer to develop and market ourselves.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
may issue additional equity securities, or engage in other transactions that could dilute our book value or relative rights of our securities,
which may adversely affect the market price of our common stock and warrants.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
board of directors may determine from time to time that we need to raise additional capital by issuing additional shares of our common
stock or other securities. Except as otherwise described in this prospectus, we will not be restricted from issuing additional shares
of common stock, including securities that are convertible into or exchangeable for, or that represent the right to receive, shares of
our common stock. Because our decision to issue securities in any future offering will depend on market conditions and other factors
beyond our control, we cannot predict or estimate the amount, timing, or nature of any future offerings, or the prices at which such
offerings may be affected. Additional equity offerings may dilute the holdings of existing stockholders or reduce the market price of
our common stock and warrants, or both. Holders of our securities are not entitled to pre-emptive rights or other protections against
dilution. New investors also may have rights, preferences and privileges that are senior to, and that adversely affect, then-current
holders of our securities. Additionally, if we raise additional capital by making offerings of debt or preferred stock, upon our liquidation,
holders of our debt securities and preferred stock, and lenders with respect to other borrowings, may receive distributions of its available
assets before the holders of our common stock.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Anti-takeover
effects of certain provisions of Delaware state law hinder a potential takeover of our company.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are subject to statutory &#8220;anti-takeover&#8221; provisions under Delaware law; the provisions of Section 203 of the Delaware General
Corporation Law, an anti-takeover law. In general, Section 203 of the Delaware General Corporate Law, or DGCL, which may prohibit certain
business combinations with stockholders owning 15% or more of our outstanding voting stock. These antitakeover provisions and other provisions
in our certificate of incorporation and bylaws could make it more difficult for stockholders or potential acquirers to obtain control
of our board of directors or initiate actions that are opposed by the then-current board of directors and could also delay or impede
a merger, tender offer or proxy contest involving our company. These provisions could also discourage proxy contests and make it more
difficult for you and other stockholders to elect directors of your choosing or cause us to take other corporate actions you desire.
Any delay or prevention of a change of control transaction or changes in our board of directors could cause the market price of our securities
to decline.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
provisions of our bylaws are intended to strengthen the position of our board of directors in the event of a hostile takeover attempt.
These provisions have the effect of providing our board of directors with the sole power to fill vacancies on our board of directors
and providing that stockholders may only call a special meeting by the request, in writing, of stockholders owning individually or together
ten percent or more of the entire capital stock of the corporation issued and outstanding and entitled to vote.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Therefore,
the provisions of the control share acquisition act do not apply to acquisitions of our shares and will not until such time as these
requirements have been met. At such time as they may apply to us, the provisions of the control share acquisition act may discourage
companies or persons interested in acquiring a significant interest in or control of us, regardless of whether such acquisition may be
in the interest of our stockholders.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may include provisions in our Certificate of Incorporation that may discourage a third party from making a proposal to acquire us, even
if some of our stockholders might consider the proposal to be in their best interests. For example, we may amend our articles of incorporation
to authorize our board of directors to issue one or more classes or series of preferred stock that could discourage or delay a tender
offer or change in control. In addition, we may enter into a stockholder rights plan, commonly known as a &#8220;poison pill,&#8221;
that may delay or prevent a change of control.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Jonathan
Destler, our Chief Executive Officer and director, is able to control all matters requiring stockholder approval, including the election
of directors and approval of significant corporate transactions.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Currently,
Mr. Destler beneficially owns approximately % of our outstanding common stock and 100% of our Series A preferred stock, which has voting
power equal to 110% of our issued and outstanding shares of common stock. Immediately following the completion of this offering, Mr.
Destler will have approximately % of the voting power of our outstanding capital stock, assuming an initial public offering price of
$ per unit (which is the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus)
and assuming no exercise of the underwriters&#8217; option to purchase additional shares. As a result, Mr. Destler has substantial voting
power in all matters submitted to our stockholders for approval, including, but not limited to:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Election
    of our board of directors;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Removal
    of any of our directors or officers;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendment
    of our Certificate of Incorporation or Bylaws;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adoption
    of measures that could delay or prevent a change in control or impede a merger, takeover or other business combination involving
    us.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally,
the one share of Series A Preferred Stock issued to Mr. Destler contains protective provisions, which precludes us from taking certain
actions without Mr. Destler&#8217;s approval. More specifically, so long as any shares of Series A Preferred Stock are outstanding, we
are not permitted to take certain actions without first obtaining the approval (by vote or written consent, as provided by law) of the
holders of at least a majority of the then outstanding shares of Series A Preferred Stock, voting as a separate class, including for
example and without limitation, amending our articles of incorporation, changing or modifying the rights of the Series A Preferred Stock,
including increasing or decreasing the number of authorized shares of Series A Preferred Stock, increasing or decreasing the size of
the board of directors or removing the director appointed by the holders of our Series A Preferred Stock and declaring or paying any
dividend or other distribution. Mr. Destler is currently a Series A Director designated in the Certificate of Designation of the Series
A Preferred Stock.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
are a &#8220;controlled company&#8221; within the meaning of the Nasdaq rules and, as a result, qualify for, and will rely on, exemptions
from certain corporate governance requirements that provide protection to the stockholders of companies that are subject to such corporate
governance requirements.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
completion of this offering, Jonathan Destler, our Chief Executive Officer and Chairman of the Board, will continue to beneficially own
more than 50% of the voting power for the election of members of our board of directors. As a result, we will be a &#8220;controlled
company&#8221; within the meaning of the Nasdaq rules. Under these rules, a listed company of which more than 50% of the voting power
is held by an individual, group or another company is a &#8220;controlled company&#8221; and may elect not to comply with certain of
Nasdaq&#8217;s corporate governance requirements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a controlled company, we will rely on certain exemptions from the Nasdaq standards that may enable us not to comply with certain Nasdaq
corporate governance requirements. Accordingly, we have opted not to implement a stand-alone nominating and corporate governance committee
and our compensation committee will not be fully independent. As a consequence of our reliance on certain exemptions from the Nasdaq
standards provided to &#8220;controlled companies,&#8221; you will not have the same protections afforded to stockholders of companies
that are subject to all of the Nasdaq corporate governance requirements. See &#8220;Management&#8212;Controlled company exception.&#8221;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Sales
of a significant number of shares of our common stock or warrants in the public markets, or the perception that such sales could occur,
could depress the market price of our securities.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales
of a substantial number of shares of our common stock or warrants in the public markets, or the perception by the market that those sales
could occur, could depress the market price of our securities and impair our ability to raise capital through the sale of additional
equity securities. We, our directors and our executive officers have agreed not to sell, dispose of or hedge any common stock or securities
convertible into or exchangeable for shares of common stock during the period from the date of this prospectus continuing through and
including the date that is 180 days after the date of this prospectus, subject to certain exceptions. We cannot predict the effect that
future sales of our common stock or warrants would have on the market price of our securities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
have broad discretion to use the net proceeds from this offering and our investment of these proceeds pending any such use may not yield
a favorable return.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
management will have broad discretion as to the application of the remaining net proceeds from this offering upon the repayment of the
outstanding principal and interest accrued on Senior Convertible Promissory Notes, as described below in &#8220;Use of Proceeds,&#8221;
and could use them for purposes other than those contemplated at the time of the offering. Our management may use the remaining net proceeds
for corporate purposes that may not improve our financial condition or market value of our securities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>We
are an emerging growth company and a smaller reporting company, and we cannot be certain if the reduced reporting requirements applicable
to emerging growth companies and smaller reporting companies will make our securities less attractive to investors.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are an emerging growth company, as defined in the Jumpstart Our Business Startups Act, or JOBS Act, enacted in April 2012. For as long
as we continue to be an emerging growth company, we may take advantage of exemptions from various reporting requirements that are applicable
to other public companies that are not emerging growth companies, including not being required to comply with the auditor attestation
requirements of Section 404 of the Sarbanes-Oxley Act reduced disclosure obligations regarding executive compensation in this prospectus
and our periodic reports and proxy statements, and exemptions from the requirements of holding nonbinding advisory votes on executive
compensation and stockholder approval of any golden parachute payments not previously approved. We could be an emerging growth company
for up to five years following the year in which we complete this offering, although circumstances could cause us to lose that status
earlier. We will remain an emerging growth company until the earlier of (i) the last day of the fiscal year (a) following the fifth anniversary
of the closing of this offering, (b) in which we have total annual gross revenue of at least $1.07 billion, or (c) in which we are deemed
to be a large accelerated filer, which requires the market value of our common stock that is held by non-affiliates to exceed $700 million
as of the prior June 30th, and (ii) the date on which we have issued more than $1 billion in non-convertible debt during the prior three-year
period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the JOBS Act, emerging growth companies can also delay adopting new or revised accounting standards until such time as those standards
apply to private companies. We have elected to not &#8220;opt out&#8221; of this exemption from complying with new or revised accounting
standards and, therefore, we will adopt new or revised accounting standards at the time private companies adopt the new or revised accounting
standard and will do so until such time that we either (i) irrevocably elect to &#8220;opt out&#8221; of such extended transition period
or (ii) no longer qualify as an emerging growth company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Even
after we no longer qualify as an emerging growth company, we may still qualify as a &#8220;smaller reporting company,&#8221; which would
allow us to continue to take advantage of many of the same exemptions from disclosure requirements, including not being required to comply
with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act and reduced disclosure obligations regarding executive
compensation in this prospectus and our periodic reports and proxy statements. We cannot predict if investors will find our securities
less attractive because we may rely on these exemptions. If some investors find our common stock less attractive as a result, there may
be a less active trading market for our common stock and the price of our securities may be more volatile.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Because
we do not anticipate paying any cash dividends on our capital stock in the foreseeable future, capital appreciation, if any, will be
your sole source of gain.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have never declared or paid cash dividends on our capital stock. We currently intend to retain all of our future earnings, if any, to
finance the growth and development of our business. As a result, capital appreciation, if any, of our common stock will be your sole
source of gain for the foreseeable future.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>After
the completion of this offering, we may be at an increased risk of securities class action litigation.</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Historically,
securities class action litigation has often been brought against a company following a decline in the market price of its securities.
This risk is especially relevant for us because we are a smaller company, and smaller companies tend to experience greater volatility
in the price of their securities. If we were to be sued, it could result in substantial costs and a diversion of management&#8217;s attention
and resources, which could harm our business.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="k_1"></span>SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
prospectus contains forward-looking statements concerning our business, operations and financial performance and condition, as well as
our plans, objectives and expectations for our business operations and financial performance and condition. Any statements contained
herein that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, you can identify forward-looking
statements by terminology such as &#8220;aim,&#8221; &#8220;anticipate,&#8221; &#8220;assume,&#8221; &#8220;believe,&#8221; &#8220;contemplate,&#8221;
&#8220;continue,&#8221; &#8220;could,&#8221; &#8220;due,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;goal,&#8221; &#8220;intend,&#8221;
&#8220;may,&#8221; &#8220;objective,&#8221; &#8220;plan,&#8221; &#8220;predict,&#8221; &#8220;potential,&#8221; &#8220;positioned,&#8221;
&#8220;seek,&#8221; &#8220;should,&#8221; &#8220;target,&#8221; &#8220;will,&#8221; &#8220;would&#8221; and other similar expressions
that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology,
although not all forward-looking statements contain these words.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
forward-looking statements include, but are not limited to, statements about:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: -0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to continue as a going concern;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">availability
    of additional funds in the future on acceptable terms or at all;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    estimates of our expenses, ongoing losses, future revenue, capital requirements and our need for, or ability to obtain, additional
    financing;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to retain and recruit key personnel, including the continued development of our sales and marketing infrastructure;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to maintain intellectual property protection for our products;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">developments
    relating to our competitors and our industry;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    expectations regarding the period during which we will qualify as an emerging growth company under the JOBS Act;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    impact of the COVID-19 pandemic on our business and operations; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">other
    events or factors, including those resulting from war or incidents of terrorism;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">anticipated
    trends and challenges in our business and the markets in which we operate; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">other
    risks and uncertainties, including those listed under the caption &#8220;Risk Factors.&#8221; </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forward-looking
statements are based on management&#8217;s current expectations, estimates, forecasts and projections about our business and the industry
in which we operate, and management&#8217;s beliefs and assumptions are not guarantees of future performance or development and involve
known and unknown risks, uncertainties and other factors that are in some cases beyond our control. As a result, any or all of our forward-looking
statements in this prospectus may turn out to be inaccurate. Furthermore, if the forward-looking statements prove to be inaccurate, the
inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these
statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time
frame, or at all. Factors that may cause actual results to differ materially from current expectations include, among other things, those
described in the section entitled &#8220;Risk Factors&#8221; and elsewhere in this prospectus. Potential investors are urged to consider
these factors carefully in evaluating these forward-looking statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, forward-looking statements reflect our beliefs and opinions on the relevant subject. These statements are based on information
available to us as of the date of this prospectus, and while we believe that information provides a reasonable basis for these statements,
that information may be limited or incomplete. Our statements should not be read to indicate that we have conducted an exhaustive inquiry
into, or review of, all relevant information. These statements are inherently uncertain, and we may not actually achieve the plans, intentions
or expectations disclosed in our forward-looking statements. You should not place undue reliance on our forward-looking statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b><span id="k_2"></span>MARKET,
INDUSTRY AND OTHER DATA</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
prospectus contains estimates, statistical data and other information concerning our industry, market and competitive position from our
own internal estimates and research, as well as from independent market research, industry and general publications and surveys, governmental
agencies and publicly available information in addition to research, surveys and studies conducted by third parties. Internal estimates
are derived from publicly available information released by industry analysts and third-party sources, our internal research and our
industry experience, and are based on assumptions made by us based on such data and our knowledge of our industry and market, which we
believe to be reasonable. In some cases, we do not expressly refer to the sources from which this data is derived.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
that regard, when we refer to one or more sources of this type of data in any paragraph, you should assume that other data of this type
appearing in the same paragraph is derived from the same sources, unless otherwise expressly stated or the context otherwise requires.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #231F20"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Industry
data and other third-party information have been obtained from sources believed to be reliable, but we have not independently verified
any third-party information. In addition, while we believe the industry, market and competitive position data included in this prospectus
is reliable and based on reasonable assumptions, such data involve risks and uncertainties and are subject to change based on various
factors, including those discussed in the section titled &#8220;Risk Factors.&#8221; These and other factors could cause results to differ
materially from those expressed in the estimates made by the independent parties or by us.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="k_3"></span>USE
OF PROCEEDS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
estimate the net proceeds from this initial public offering of securities will be approximately $&#160;&#160;&#160;&#160; , or $&#160;&#160;&#160;&#160; if the underwriters exercise
their option to purchase additional units in full, assuming an initial public offering price of $&#160;&#160;&#160;&#160; per share, the midpoint of the price
range set forth on the cover page of this prospectus, and after deducting the underwriting discounts and commissions and estimated offering
expenses payable by us.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
$1.00 increase (decrease) in the assumed initial public offering price of $&#160;&#160;&#160;&#160; per share, the midpoint of the price range set forth on the
cover page of this prospectus, would increase (decrease) our net proceeds by approximately $&#160;&#160;&#160;&#160; , assuming that the number of shares offered
by us, as set forth on the cover page of this prospectus, remains the same, and after deducting the underwriting discounts and commissions
and estimated offering expenses payable by us.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
currently intend to use the net proceeds from this offering as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Up
    to approximately $4,000,000 for the repayment of outstanding principal and interest accrued on Senior Convertible Promissory Notes,
    referred to as the &#8220;Notes&#8221;;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">approximately
    $&#160;&#160;&#160;&#160;&#160; to $&#160;&#160;&#160;&#160; to fund the sales and marketing, as well as research and development and field trial activities
    supporting ongoing commercialization of our products; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    remainder for general corporate purposes, including working capital and operating expenses.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of the date of this prospectus, the outstanding aggregate principal amount of the Notes was approximately $3,960,364. The Notes bear
interest rate of 12% per annum and mature 12 months after the date of the issuance of the Notes, provided, however, that noteholders
have the right to call the Notes prior to maturity starting from the earlier of: (i) the closing date of this offering or (ii) June 15,
2022. The proceeds of this indebtedness will be used by us for our general corporate purposes.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may also use a portion of our net proceeds to acquire or invest in complementary products, technologies, or businesses; however, we currently
have no agreements or commitments to complete any such transactions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe, based on our current operating plan, that our current capital resources, along with the net proceeds from this offering, will
be sufficient for us to fund our operating expenses and capital expenditure requirements for at least the next twelve months. However,
our expected use of the net proceeds from this offering described above represents our intentions based upon our current plans and business
conditions. We cannot predict with certainty all of the particular uses for the net proceeds to be received upon the completion of this
offering or the amounts that we will actually spend on the uses set forth above. The amounts and timing of our actual expenditures will
depend on numerous factors, including the time and cost necessary to conduct our planned commercialization activities, the results of
our planned field trials and other factors described in the section titled &#8220;Risk Factors&#8221; in this prospectus, as well as
the amount of cash used in our operations and any unforeseen cash needs.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Therefore,
our actual expenditures may differ materially from the estimates described above. We may find it necessary or advisable to use the net
proceeds for other purposes, and we will have broad discretion over the allocation of the net proceeds from this offering.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
intend to invest the net proceeds from this offering that are not used as described above in a variety of capital preservation investments,
including short-term, investment-grade, interest-bearing instruments and U.S. government securities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="k_4"></span>DIVIDEND
POLICY</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
currently intend to retain all available funds and any future earnings to support our operations and finance the growth and development
of our business, and therefore do not intend to pay cash dividends on our common stock for the foreseeable future. Any future determination
related to our dividend policy will be made at the discretion of our board of directors and will depend on, among other factors, our
results of operations, financial condition, capital requirements, contractual restrictions, business prospects and other factors our
board of directors may deem relevant. Investors should not purchase our securities with the expectation of receiving cash dividends.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="k_5"></span>CAPITALIZATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth our capitalization as of June 30, 2022:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;
on an actual basis;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;
on a pro forma basis to reflect the sale of units by us in this offering at an initial price to the public of $&#160;&#160;&#160; per unit, resulting in
net proceeds to us of $&#160;&#160;&#160;&#160; after deducting (i) underwriter commissions and non-accountable expenses of $&#160;&#160;&#160;&#160; and (ii) our estimated other offering
expenses of $&#160;&#160;&#160;&#160; ; and</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;
on a pro forma basis to reflect the sale of units by us in this offering, assuming the underwriters elect to exercise the over-allotment
option in full, at an initial price to the public of $&#160;&#160;&#160;&#160; per unit, resulting in net proceeds to us of $&#160;&#160;&#160; after deducting (i) underwriter
commissions and non-accountable expenses of $&#160;&#160;&#160; and (ii) our estimated other offering expenses of $&#160;&#160;&#160;&#160; . The table below assumes no exercise
by the underwriters of their option to purchase additional shares of common stock and/or warrants from us and no exercise of the warrants
included in the units.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
pro forma information below is illustrative only and our capitalization following the completion of this offering is subject to adjustment
based on the initial public offering price of our units and other terms of this offering determined at pricing and excludes up to approximately
$4,000,000 for the repayment of outstanding principal and interest accrued on Senior Convertible Promissory Notes, which were issued
by us in September and October, 2021. You should read this table together with our financial statements and the related notes included
elsewhere in this prospectus and the information under &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results
of Operations.&#8221;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the table below, amounts are rounded to nearest thousands, except share and per share amounts.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="10" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">As
    of June 30, 2022 (unaudited)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Actual</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><p style="font-family: Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">Post-Offering</span></p>
                                                                                <p style="font-family: Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">Pro
                                            Forma</span></p>
                                                                                <p style="font-family: Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">without
                                            Over-</span></p>
                                                                                <p style="font-family: Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">Allotment
                                            Option</span></p></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold"><p style="text-align: center; font-family: Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">Post-Offering</span></p>
                                                                                <p style="text-align: center; font-family: Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">Pro
                                            Forma</span></p>
                                                                                <p style="text-align: center; font-family: Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">with
                                            Over-</span></p>
                                                                                <p style="text-align: center; font-family: Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif">Allotment
                                            Option</span></p></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; width: 52%"><span style="font-family: Times New Roman, Times, Serif">Cash</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">729,000</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: left"></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: left"></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Convertible
    notes payable, including interest accrued</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,906,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Shareholders&#8217; equity (deficit):</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif">Preferred stock, $0.0001 par value per share;
    1,000,000 shares authorized, 1 share issued and outstanding, actual;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif">Common stock, $0.0001 par value per share:
    100,000,000 shares authorized, 33,736,399 shares issued and outstanding, actual (35,003,854 and 35,395,158 pro forma);</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Additional paid in capital</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">25,076,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Accumulated deficit</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(26,907,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total shareholders&#8217;
    equity (deficit)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,828,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total liabilities and
    shareholders&#8217; equity</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">2,814,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
table above excludes the following shares:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,540,000
    </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of common stock reserved for issuance
    upon the exercise of outstanding options at a weighted average exercise price of $2.00 per share, as well as any future increases
    in the number of shares of our common stock reserved for issuance under our equity incentive plan;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,279,375
    shares of common stock reserved for issuance upon the exercise of outstanding warrants at a weighted average exercise price of $3.00
    per share; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">up
    to&#160;&#160;&#160;&#160;&#160;&#160;&#160; shares of common stock issuable upon conversion of $3,906,053 of Senior Convertible Promissory Notes (the &#8220;Notes&#8221;)
    and interest accrued, based on an assumed initial public offering price of $&#160;&#160;&#160;&#160; per unit, the midpoint of the price range set forth
    on the cover page of this prospectus;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,591,235</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">
    shares of common stock reserved for issuance upon the exercise of outstanding warrants issued with our Notes. Each Warrant is
    exercisable at a price equal to 115% of the Company&#8217;s initial public offering price;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">200,000
    restricted stock units issued to our employees. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1
    share of common stock reserved for issuance upon the conversion of 1 share of Series A preferred stock.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">up
    to&#160;&#160;&#160;&#160;&#160;&#160; shares of common stock issuable upon exercise of warrants included in the units being offered in this offering; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">up
    to&#160;&#160;&#160;&#160;&#160; shares of common stock issuable upon exercise of the representative&#8217;s warrants issued in connection with this offering.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
$1.00 increase (decrease) in the assumed initial public offering price of $&#160;&#160;&#160;&#160;&#160; per share, the midpoint of the price range set forth on the
cover page of this prospectus, would increase (decrease) our net proceeds by approximately $ assuming that the number of shares offered
by us, as set forth on the cover page of this prospectus, remains the same, and after deducting the underwriting discounts and commissions
and estimated offering expenses payable by us.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="k_6"></span>DILUTION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
you invest in our securities in this offering, your ownership interest will be immediately diluted to the extent of the difference between
the initial public offering price per share of our common stock included in the unit offered by this prospectus and the pro forma as
adjusted net tangible book value per share of our common stock immediately after this offering.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of June 30, 2022, our historical net tangible book value was $(1,828,000<span style="text-decoration: underline">)</span></span>,
or $(0.05) per share of our common stock. Net tangible book value per share represents our total tangible assets (total assets less intangible
assets) less total liabilities and convertible preferred stock, divided by the total number of our outstanding shares of common stock
as of June 30, 2022.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">After
giving effect to the sale and issuance of units in this offering, at the assumed initial public offering price of $&#8239;&#160;&#160;&#160;&#160;&#160; per unit, the
midpoint of the price range set forth on the cover page of this prospectus, after deducting underwriting discounts and commissions and
estimated offering expenses payable by us, our as adjusted net tangible book value as of June 30, 2022, would have been approximately
$&#160;&#160;&#160;&#160;&#160; , or $&#160;&#160;&#160;&#160;&#160; per share of our common stock. This represents an immediate increase in pro forma net tangible book value of approximately $&#160;&#160;&#160;&#160;&#160;
per share to our existing stockholders and an immediate dilution of $&#160;&#160;&#160;&#160; per share to new investors.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dilution
per share to investors participating in this offering is determined by subtracting as adjusted net tangible book value per share after
this offering from the initial public offering price per unit paid by investors participating in this offering. The following table illustrates
this dilution (without giving effect to any exercise by the underwriters of their option to purchase additional shares):</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">Assumed initial public offering price per unit</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; width: 68%"><span style="font-family: Times New Roman, Times, Serif">Historical net tangible book value per share as of
    June 30, 2022</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(0.05</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right"></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Increase in net tangible
    book value per share attributable to investors participating in this offering</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">As adjusted net tangible
    book value per share immediately after this offering</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Dilution in net tangible
    book value per share to new investors participating in this offering</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
dilution information discussed above is illustrative and will change based on the actual initial public offering price and other terms
of this offering determined at pricing. If the underwriters exercise their option to purchase additional units in full, our as adjusted
net tangible book value per share after this offering would be approximately $ per share, and the dilution in as adjusted net tangible
book value per share to new investors participating in this offering would be $ per share.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
$1.00 increase (decrease) in the assumed initial public offering price of $ per unit, the midpoint of the price range set forth on the
cover page of this prospectus, would increase (decrease) the as adjusted net tangible book value by $ per share and the dilution to investors
participating in this offering by $ per share, assuming the number of shares offered by us, as set forth on the cover page of this prospectus,
remains the same and after deducting underwriting discounts and commissions and estimated expenses payable by us.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table summarizes, on an as adjusted basis as of June 30, 2022, the differences between the number of shares of common stock
included in the units purchased from us, the total cash consideration and the average price per share paid to us by existing stockholders
and by new investors purchasing units in this offering at the assumed initial public offering price of $ per unit, the midpoint of the
price range set forth on the cover of this prospectus before deducting underwriting discounts and commissions and estimated offering
expenses payable by us. As the table shows, new investors purchasing units in this offering will pay an average price per share substantially
higher than our existing investors paid.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Shares
    Purchase</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Total
    Consideration</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Average
    Price Per</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Number</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Percent</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Amount</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Percent</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Share</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; width: 30%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Existing stockholders</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right"></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right"></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right"></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 12%"><span style="font-family: Times New Roman, Times, Serif">$</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">New investors participating
    in this offering, excluding underwriting discounts and commissions and estimated offering expenses payable by us</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">$</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">$</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
number of shares of common stock to be outstanding after this offering is based on 33,736,399 shares of common stock outstanding at June
30, 2022, and excludes the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,540,000
    </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of common stock reserved for issuance
    upon the exercise of outstanding options at a weighted average exercise price of $2.00 per share, as well as any future increases
    in the number of shares of our common stock reserved for issuance under our equity incentive plan;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,279,375
    shares of common stock reserved for issuance upon the exercise of outstanding warrants at a weighted average exercise price of $3.00
    per share; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">up
    to shares of common stock issuable upon conversion of $3,906,053 of Senior Convertible Promissory Notes (the &#8220;Notes&#8221;)
    and interest accrued, based on an assumed initial public offering price of $ per unit, the midpoint of the price range set forth
    on the cover page of this prospectus;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,591,235</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">
    shares of common stock reserved for issuance upon the exercise of outstanding warrants issued with our Notes. Each Warrant is
    exercisable at a price equal to 115% of the Company&#8217;s initial public offering price;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">200,000
    restricted stock units issued to our employees. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1
    share of common stock reserved for issuance upon the conversion of 1 share of Series A preferred stock.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">up
    to&#160;&#160;&#160;&#160;&#160; shares of common stock issuable upon exercise of warrants included in the units being offered in this offering; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">up
    to&#160;&#160;&#160;&#160; shares of common stock issuable upon exercise of the representative&#8217;s warrants issued in connection with this offering.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">To
the extent that outstanding options or warrants are exercised, or shares are issued under our equity incentive plans or upon the conversion
of our convertible notes, you will experience further dilution. In addition, we may choose to raise additional capital due to market
conditions or strategic </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">considerations <span style="background-color: white">even
if we believe we have sufficient funds for our current or future operating plans. To the extent that additional capital is raised through
the sale of equity or convertible debt securities, the issuance of these securities may result in further dilution to our stockholders.</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="k_7"></span>MANAGEMENT&#8217;S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>The
following discussion and analysis of our financial condition and results of operations should be read together with our financial statements,
the related notes, and the other financial information included elsewhere in this prospectus. This discussion contains forward-looking
statements that involve risks and uncertainties. Our actual business, financial condition and results of operations could differ materially
from those anticipated in these forward-looking statements as a result of various factors, including those discussed below and elsewhere
in this prospectus, particularly under &#8220;Risk Factors.&#8221; See also &#8220;Special Note Regarding Forward-Looking Statements.&#8221;
Our historical results are not necessarily indicative of the results that may be expected for any period in the future.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Overview</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Harvest
is an agricultural innovation company with products backed by a portfolio of patented and patent pending technologies focused on solving
several critical challenges faced by agribusinesses: maximizing crop yield, accelerating crop growth, optimizing land and water resources,
reducing labor costs and mitigating negative environmental impacts.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
advanced agriculture technology (Opti-Filter&#8482;) and precision farming (Opti-View&#8482;) platforms, enable commercial growers and
home gardeners to harness, optimize and better utilize sunlight, the planet&#8217;s most fundamental and renewable natural resource.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
sustainable agricultural technology platform is powered by the sun. It maximizes a free and renewable resource with no need for additional
chemicals or fertilizers.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From
inception in 2016 through the present date, we have made substantial investments in building our intellectual property portfolio, developing,
and optimizing our product designs, and conducting over 65 multi-year field trials &#160;&#160;to test and measure the effectiveness
of our products. Based on our field trials and the positive feedback from our partners, we began commercializing our Opti-Gro and
ChromaGro products in the first half of 2021, our Opti-Shield and Opti-Panel products late in the first half of 2022, and we plan to
commercialize our Opti-Skylight products in the first half of 2023. Our Opti-View product is currently in our research and development
phase with an anticipated commercial offering in 2023. We remain focused on developing new products and enhancing existing products.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
the recent commercialization of several of our products, we are making significant investments in sales
and marketing, tooling to manufacture our products, and infrastructure investments to meet planned customer demand. We will also incur
additional expenses generally associated with being a publicly traded company, including the cost of regulatory compliance, director
fees, insurances, investor relations, upgraded systems, and enhanced internal controls.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Recent
Trends - Market Conditions</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the period ended June 30, 2022, the COVID-19 pandemic continued to impact our operating results and the Company anticipates a residual
effect for the balance of the year. In addition, the pandemic could cause reduced demand for our products if, for example, the pandemic
results in a recessionary economic environment which negatively effects the consumers who purchase our products. Based on the recent
increase in demand for our products, we believe that over the long term, there will continue to be strong demand for our products.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Although
the U.S. economy continued to grow during the first half of 2022, the continuing impact of the COVID-19 pandemic, higher inflation,
the actions by the Federal Reserve to address inflation, and rising energy prices create uncertainty about the future economic environment
which will continue to evolve and may impact our business in future periods. We have experienced supply chain challenges, including increased
lead times, as well as inflation of raw materials, logistics and labor costs due to availability constraints and high demand. Although
we regularly monitor companies in our supply chain, and use alternative suppliers when necessary and available, supply chain constraints
could cause a disruption in our ability to obtain raw materials required to manufacture our products and adversely affect our operations.
We expect the inflationary trends and supply chain pressures to continue throughout the remainder of 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through
June 30, 2022, the Company experienced elevated freight costs as a result of a higher transportation market as the capacity in the freight
market has not kept up with demand. The Company believes these challenges will continue throughout the year. In addition, the Company
experienced increases in the pricing of its raw materials and delays in procuring raw materials. The disruption caused by labor shortages, significant raw material cost inflation, logistics issues
and increased freight costs, and ongoing port congestion, resulted in suppressed margins. The Company anticipates a continued
impact throughout 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
ability to operate without significant incremental negative operational impact from the COVID-19 pandemic will in part depend on our
ability to protect our employees and protect our supply chain. The Company has endeavored to follow the recommended actions of government
and health authorities to protect our employees. Since the inception of the COVID-19 pandemic and through June 30, 2022, we maintained
the consistency of our operations during the onset of the COVID-19 pandemic. We will continue to innovate in managing our business, coordinating
with our employees and suppliers to do our part in the infection prevention and remain flexible in responding to our customers and suppliers.
However, the uncertainty resulting from the pandemic could result in an unforeseen disruption to our workforce and supply chain (for
example an inability of a key supplier or transportation supplier to source and transport materials) that could negatively impact our
operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have not observed any material impairments of our assets or a significant change in the fair value of our assets due to the COVID-19
pandemic.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Results
of Operations for the Year Ended December 31, 2021 Compared to the Year Ended December 31, 2020</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
sales, operating expenses, and net loss from operations for the year ended December 31, 2021 as compared to the year ended December 31,
2020 were as follows (amounts are rounded to nearest thousands):</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">For the Year
    Ended</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Percentage</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">December
    31,</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Change</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2021</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2020</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Change</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Inc.
    (Dec.)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; width: 40%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net Sales</span></td><td style="font-family: Times New Roman, Times, Serif; width: 3%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">40,000</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 3%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">20,000</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 3%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">20,000</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 3%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">100</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Cost of goods sold</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">102,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">115,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(13,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(11</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Gross loss</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(62,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(95,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">33,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(35</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Operating expenses</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">6,591,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,467,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,124,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">349</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Research and development expense</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">56</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Amortization of intangible
    assets</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(42,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(100</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total operating expenses</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">9,212,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,189,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">6,023,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">189</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss from operations</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,284,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(5,990,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">182</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest expense</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(817,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(817,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">100</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Gain on forgiveness
    of SBA PPP loan</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">38,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">38,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">100</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net loss</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(10,053,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,284,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(6,769,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">206</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Net
Sales</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
began offering our first two products, ChromaGro and Opti-Gro, for sale in 2021, leading to $40,000 of net sales during the year ended
December 31, 2021. Net sales during the year ended December 31, 2020 of $20,000 were from the sale of significantly discounted products
originally manufactured for our research and development activities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Cost
of Goods Sold</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost
of goods sold represent the cost to manufacture our products sold. Cost of goods sold decreased by $13,000 to $102,000 for the year ended
December 31, 2021, compared to $115,000 for the year ended December 31, 2020. During the year ended December 31, 2021, we recorded a
$60,000 reserve for slow moving and potentially obsolete product to cost of goods sold. No similar reserve for slow moving and obsolete
products were recorded during the year ended December 31, 2020.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Operating
Expenses</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
expenses include selling, general and administrative expenses, research and development costs, and amortization of intangible assets.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
selling, general and administrative expenses increased during the year ended December 31, 2021, as we continued transitioning our sole
focus on research and development activities to include the commercializing of our products in 2021. We hired employees and retained
consultants and advisors to provide sales and marketing expertise and invested in required infrastructure to meet anticipated product
demand. To that end, our selling, general and administrative expenses increased approximately $5.1 million to $6.6 million during the
year ended December 31, 2021, compared to approximately $1.5 million during the year ended December 31, 2020. We incurred stock-based
compensation expense of $3.5 million, representing $1.5 million in stock option expense related to the vesting of employee stock options,
and $2.0 million on the issuances of shares of the Company&#8217;s common stock and warrants for services received from advisors and
consultants during the year ended December 31, 2021. Excluding stock-based compensation, our selling, general and administrative expenses
increased $1.7 million to $3.1 million compared to $1.4 million during the year ended December 31, 2020. The increase of $1.7 million
was from increased consulting and advisor fees of $531,000, increased salaries and benefit expense of $397,000, increased marketing related
expenses of $307,000 primarily related to the introduction of our ChromoGro product to the home garden market, increased legal and professional
fees of $225,000 primarily related to our intellectual property, increased rent expense of $35,000, and increased depreciation expense
of $33,000. Our remaining increase of $251,000 was across our remaining expense accounts to support our operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Research
and development costs include advisors, consultants, software licensing, product design and development, data monitoring and collection,
field trial installations, and travel related expenses. Research and development expenses increased approximately $941,000 to $2.6 million
during the year ended December 31, 2021, compared to approximately $1.7 million for the year ended December 31, 2020. The increase in
research and development costs were primarily due to new product design and development cost and our field trial activity, as compared
to the prior year period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization
of intangible assets expense was $42,000 during the year ended December 31, 2020. We had no comparable expense during the same period
of the current year. The decrease in intangible amortization expense was due to our intangible assets becoming fully amortized in early
calendar year 2020.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Loss
from Operations</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loss
from operations increased to approximately $9.3 million for the year ended December 31, 2021, compared to $3.3 million for the year ended
December 31, 2020. The increase in loss from operations was due to our increase in net sales, decreased cost of sales, offset
by increased stock based compensation costs, and increased operating expenses as discussed above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Interest
Expense </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
expense was $817,000 for the year ended December 31, 2021, representing $713,000 amortization of our debt discount, and $104,000 of interest
on our loans. We had no similar expense during the year ended December 31, 2020.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Gain
on Forgiveness of Debt </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gain
on forgiveness of debt was $38,000 for the year ended December 31, 2021, representing a $38,000 gain on extinguishment of debt related
to our SBA PPP loan. We had no similar expense during the year ended December 31, 2020.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Net
Loss </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
loss increased $6.8 million to $10.1 million during the year ended December 31, 2021, compared to $3.3 million for the year ended December
31, 2020. The increase in net loss was due to the increase in net sales, decrease in cost of goods sold, gain on forgiveness of debt,
offset by increased stock based compensation costs, and operating and interest expense as discussed above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Results
of Operations for the Six Months Ended June 30, 2022 Compared to the Six Months Ended June 30, 2021</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
sales, operating expenses, and net loss from operations for the six months ended June 30, 2022 as compared to the six months ended June
30, 2021 were as follows (amounts are rounded to nearest thousands):</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    Months Ended</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="2" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Percentage</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Change</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
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    <td style="font-family: Times New Roman, Times, Serif; width: 40%; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net Sales</span></td><td style="font-family: Times New Roman, Times, Serif; width: 3%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">20,000</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 3%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">13,000</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 3%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,000</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 3%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">54</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Cost of goods sold</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">26,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">50,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(24,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-48</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(37,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">31,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-84</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Operating expenses</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Selling, general and administrative expenses</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,120,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,536,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">584,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">17</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Research and development
    expense</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,257,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,191,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">66,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">6</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Total operating expenses</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">5,377,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,727,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">650,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">14</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Loss from operations</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(5,383,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(4,764,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(619,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">13</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Gain on forgiveness of SBA PPP loan</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">38,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">38,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">-100</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Financing costs</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(611,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(611,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">100</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Interest expense</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(3,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(1,720,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">57,333</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(4,729,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(2,988,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">63</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Net
Sales</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">We began commercializing
our Opti-Shield and Opti-Panel products late in the first half of 2022, and our ChromaGro and Opti-Gro products in the first half of
2021, leading to $20,000 and $13,000 of net sales during the six months ended June 30, 2022 and 2021, respectively.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Cost
of Goods Sold</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cost
of goods sold represent the cost to manufacture our products sold. Cost of goods was $26,000 and $50,000 for the six months ended June
30, 2022 and 2021, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Operating
Expenses</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating
expenses include selling, general and administrative expenses, and research and development costs.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
selling, general and administrative expenses increased during the six months ended June 30, 2022, as we continued transitioning our sole
focus on research and development activities to include the commercializing of our products in 2022. We hired employees and retained
consultants and advisors to provide sales and marketing expertise and invested in required infrastructure to meet anticipated product
demand. To that end, our selling, general and administrative expenses increased approximately $584,000 to $4.1 million during the six
months ended June 30, 2022, compared to $3.5 million during the six months ended June 30, 2021. The net increase of $584,000 in
our selling, general and administrative expenses was from increased stock based compensation expense of $472,000, which include shares
issued for services, increased salaries and benefit expense of $399,000, increased depreciation expense of $91,000, offset by decreased
consulting and professional fees of $131,000, and decreased advertising expense $169,000. The remaining decrease of $78,000 during
the six months ended June 30, 2022, was across our remaining expense accounts to support our operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Research
and development costs include advisors, consultants, software licensing, product design and development, data monitoring and collection,
field trial installations, and travel related expenses. Research and development expenses increased approximately $66,000 to $1.3 million
during the six months ended June 30, 2022, compared to $1.2 million for the six months ended June 30, 2021. The increase in research
and development costs were primarily due to increased salaries and benefit expense, as compared to the prior year period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Loss
from Operations</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loss
from operations increased to approximately $5.4 million for the six months ended June 30, 2022, compared to $4.8 million for the six
months ended June 30, 2021. The increase in loss from operations was due to our increase in net sales,
decreased cost of sales, offset by increased stock based compensation costs, and increased operating expenses as discussed above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Gain
on Forgiveness of Debt </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gain
on forgiveness of debt was $38,000 during the six months ended June 30, 2021, representing a $38,000 gain on extinguishment of
debt related to our SBA PPP loan. We had no similar expense during the six months ended June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Financing
Costs</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financing
costs was $611,000 during the six months ended June 30, 2022, representing the fair value of common shares issued to extend the call
date provision in our senior secured convertible notes. We had no similar expense during the six months ended June 30, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Interest
Expense</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
expense was approximately $1.7 million for the six months ended June 30, 2022, representing approximately $1.5 million of debt discount
amortization, which did not occur in the prior year period, and $214,000 of interest on our loans. Interest
expense was $3,000 during the six months ended June 30, 2021. The increase in interest on loans was due to the increase in debt balances
compared to the prior year period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Net
Loss </i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
loss increased $3.0 million to $7.7 million during the six months ended June 30, 2022, compared to $4.7 million for the six months ended
June 30, 2021. The increase in net loss was due to increased stock based compensation costs, and operating and interest
expense as discussed above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Liquidity
and Capital Resources</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since
inception, our principal sources of liquidity have been cash provided by financing, including through the private placement of equity
securities, and loans. Our principal uses of cash have been primarily for labor and outside services, development of new products and
improvement of existing products, expansion of marketing efforts to promote our products and brand, and capital expenditures. We anticipate
that additional expenditures will be necessary to develop and expand our assets before sufficient and consistent positive operating cash
flows will be achieved, including sufficient cash flows to service existing liabilities and related interest.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
the recent commercialization of our products, we are making significant investments in sales and marketing, tooling to manufacture our
products, and infrastructure investments to meet planned customer demand. We will also incur additional expenses generally associated
with being a publicly traded company, including the cost of financial statement audits and reviews, compliance, director fees, insurance
policies, investor relations, upgraded systems, and enhanced internal controls.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe, based on our current operating plan, that our current capital resources, along with the net proceeds from this offering, will
be sufficient for us to fund our operating expenses and capital expenditure requirements for at least the next twelve months. However,
our expected use of the net proceeds from this offering described above represents our intentions based upon our current plans and business
conditions. We cannot predict with certainty all of the particular uses for the net proceeds to be received upon the completion of this
offering or the amounts that we will actually spend on the uses set forth above. The amounts and timing of our actual expenditures will
depend on numerous factors, including the time and cost necessary to conduct our planned commercialization activities, the results of
our planned field trials and other factors described in the section titled &#8220;Risk Factors&#8221; in this prospectus, as well as
the amount of cash used in our operations and any unforeseen cash needs.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
further presented in our financial statements and related notes included in this prospectus, during the six months ended June 30, 2022,
we incurred a net loss of $7.7 million, used cash in operations of $2.5 million, and at June 30, 2022, had a stockholders&#8217; deficit
of approximately $1.8 million, and a negative working capital of approximately $3.3 million. In addition, during the fiscal
year ended December 31, 2021, we incurred a net loss of $10.1 million, and used cash in operations of $5.3 million, and at December 31,
2021, we had a stockholders&#8217; equity of approximately $1.2 million, and a negative working capital $439,000.
These factors raised substantial doubt about our ability to continue as a going concern, as noted by our independent registered public
accounting firm in its report on our December 31, 2021 financial statements. We believe, based on our current operating plan, that our
current capital resources, along with the net proceeds from this offering, will be sufficient for us to fund our operating expenses and
capital expenditure requirements for at least the next twelve months. Additional funds may be needed in order to continue production
and operations, maintain profitability and to achieve our objectives.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
ability to continue as a going concern is dependent upon our ability to raise additional capital and to maintain revenues and generate
profit from operations. Subsequent to June 30, 2022, we raised $1.2 million from a private placement transaction, and $40,000 for
the exercise of warrants. During the six months ended June 30, 2022, we raised approximately $1.5 million from the exercise of warrants,
and we received proceeds of $195,000 from a private placement transaction. During the fiscal year ended December 31, 2021, we received
proceeds of $5.2 million from a private placement transaction and $3.0 million from the issuance of convertible debt. At June 30, 2022,
we had cash on hand of approximately $729,000, and may not be able to generate sufficient funds from our future operations to meet our
cash flow requirements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
June 30, 2022, we had a negative working capital of approximately $3.3 million compared to a negative working capital deficit of $439,000
at December 31, 2021. The decrease in working capital was primarily to fund our net loss during the six months ended June 30, 2022. At
December 31, 2021, we had a working capital deficit of approximately $439,000 compared to a negative working capital of $321,000 at December
31, 2020. The increase in negative working capital was primarily to fund our net loss.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Loan
Payable</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
November 20, 2020, we financed the purchase of a vehicle for $40,000. The loan term is for 59 months, annual interest rate of 4.49%,
with monthly principal and interest payments of $745, and secured by the purchased vehicle.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
January 20, 2022, the Company financed the purchase of a vehicle for $49,000. The loan term is for 71 months, annual interest rate of
15.54%, with monthly principal and interest payments of $1,066, and secured by the purchased vehicle.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Senior
Convertible Notes Payable and Warrants</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Between
September 23, 2021 and October 15, 2021 we offered and sold approximately $3,591,000 of Senior Convertible Promissory Notes (the &#8220;Notes&#8221;)
and warrants (the &#8220;Warrants&#8221;) to purchase that number of shares of common stock into which the notes are convertible. Each
Warrant is exercisable at a price (the &#8220;Exercise Price&#8221;) equal to 115% of our initial public offering price. Each Note is
convertible, in the sole discretion of the holder of the Note, into shares of our common stock at a purchase price equal to 80% of the
offering price of our initial public offering price.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
Note, issued at an original issue discount of 15%, carries interest at a rate of 12% per annum, and <span style="background-color: white">any
interest payable under the Note shall automatically accrue and be capitalized to the principal amount of the Note, and shall thereafter
be deemed to be a part of the principal amount of the Note, unless such interest is paid in cash on or prior to the maturity date of
the Note.</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The
Notes mature 12 months from the date of the Notes, provided, however, that noteholders have the right to call the Notes prior to maturity
starting from the </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">earlier of (i) <span style="background-color: white">the
consummation of our first underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933,
as amended, covering the offer and sale by us of not less than $10,000,000 of our equity securities, as a result of or following which
our</span> common stock shall be listed on the Nasdaq Stock Market, and (ii) June 15, 2022. Additionally, each Warrant
contains a cashless exercise provision, which is effective if the shares underlying the Warrant are not covered by a registration statement
6 months from the date of issuance of the Warrant.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shares of common stock underlying the Notes and the Warrants are subject to registration rights, and such shares must be registered within
90 days after the effectiveness of this offering. If we fail to register the shares within 90 days, we agreed to pay a penalty of a cash
payment equal to 0.02857% of the principal amount and interest due and owing under any Note held by the Holder or that number shares
of common stock of the Company equal 1% of the shares of common stock underlying any Note and Warrant held by the Holder, in total amount
per week paid in, whichever is greater.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
Note and Warrant holder has (i) the right of first refusal to purchase up to 20% of its pro rata share of new securities the that company
offers, which right expires upon the consummation of an underwritten initial public offering by us or a change in control of us, and
(ii) the right to be repaid any and all principal and interest due by us from any and all proceeds resulting from any sale of assets
and any sale and issuance of debt or equity securities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Lease
Obligations</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
principal executive offices are located at 1801 Century Park East, Suite 520, Los Angeles, California 90067. We sublease this location
on a month-to-month agreement and our rent expense is $5,000 per month.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Earnout
and Royalty Obligations</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 7, 2017, we and DisperSolar LLC (the &#8220;Seller&#8221;), a California limited liability company, entered into a Patent Purchase
Agreement (the &#8220;Agreement&#8221;) pursuant to which we acquired certain patents (intellectual property) of the Seller (see Note
7 of the accompanying financial statements). The Seller developed the patents for harvesting, transmission, spectral modification and
delivery of sunlight to shaded areas of plants.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the Agreement, the Company agreed to pay the following for the acquisition of Seller&#8217;s intellectual property:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial
    Payment: $150,000 deposited into the Seller Account within 10 days of the Effective Date (the &#8220;Initial Payment&#8221;). </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial
    Milestone Payments: Additional payments in the aggregate combined amount up to $350,000 upon reaching defined milestones (the &#8220;Milestone
    Payments&#8221;), of which $50,000 was paid in 2017, $200,000 in 2018, and $100,000 in 2021.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Earnout
    Payments: $800,000 paid on the on-going basis at a rate of 50% of gross margin and/or License Revenue from the date of the first
    commercial sale of a Covered Product or the first receipt by Purchaser of License Revenue, until the aggregate combined Gross Margin
    and License Revenue reach $1,600,000.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
December 6, 2018, we and Seller amended the Agreement by increasing the Milestone Payments from $350,000 to $450,000. The $100,000 increase
in Milestone Payments was paid in 2019.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of June 30, 2022, we had an $800,000 earnout obligation payable on the on-going basis at a rate of 50% of gross margin and/or license
revenue from the date of the first commercial sale of a covered product or the first receipt by purchaser of license revenue, until the
aggregate combined gross margin and license revenue reach $1.6 million.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will pay to Seller royalties as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following
    the recognition by us of the first $1.6 million in aggregate combined gross margin and license revenue, and until we pay to Seller
    an aggregate amount in royalties of $30 million, we shall pay to Seller royalties on sales of covered products at a rate of 8% of
    gross margin. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td>
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    we paid to Seller an aggregate amount in royalties of $30 million, we shall pay to Seller royalties on sales of covered products
    at a rate of 4.75% of gross margin until the earlier of (x) such time as covered products are not covered by any claims of any assigned
    patent, and (y) the date of the consummation of a strategic transaction. </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the six months ended June 30, 2022, and for the years ended December 31, 2021 and 2020, and as of the date of this prospectus, the Company
recorded no earnout or royalty payment obligations as no gross margin was realized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will pay to Seller 7.6% of all License Consideration received by us until the date of the consummation of a Strategic Transaction. &#8220;Strategic
Transaction&#8221; means a transaction or a series of related transactions that results in an acquisition of the Company by a third party,
including by way of merger, purchase of capital stock or purchase of assets or change of control or otherwise.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Strategic
Transaction Consideration. &#8220;Strategic Transaction Consideration&#8221; means any cash consideration and the fair market value of
any non-cash consideration paid to we by any acquirer as consideration for the Strategic Transaction, less the costs and expenses incurred
by Purchaser for the purpose of consummating the Strategic Transaction. The Company will pay to Seller a percentage of all License Consideration
received by Purchaser as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.8%
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.6%
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Both
our Chief Science Officer, Yosepha Shahak Ravid, and our Chief Technology Officer, Nicholas Booth, we employed by us on July 1, 2021,
and are control persons of DisperSolar and named inventors of the acquired patents we acquired from DisperSolar under our Patent Purchase
Agreement with DisperSolar.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July 5, 2019, we and Nicholas Booth (&#8220;Mr. Booth&#8221;) entered into a royalty agreement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company will pay Mr. Booth a percentage of all license consideration received by us as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Once
    we paid to DisperSolar an aggregate amount in royalties of $30 million under the Agreement, we will pay to Mr. Booth a percentage
    of all royalties on sales of covered products at a rate of 0.25% of gross margin until the earlier of (x) such time as covered products
    are not covered by any claims of any assigned patent, and (y) the date of the consummation of a strategic transaction.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Opti-Harvest will pay to Mr. Booth a percentage of all license consideration received by purchaser on the same terms as payable by us
to DisperSolar under the Agreement, except that the percentages of license consideration due to Mr. Booth shall be as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.2%
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.3%
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.4%
    of strategic transaction consideration over $150 million.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the six months ended June 30, 2022, and for the years ended December 31, 2021 and 2020, and as of the date of this prospectus, the Company
recorded no earnout or royalty payment obligations as no gross margin was realized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Off-Balance
Sheet Arrangements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have not entered into any off-balance sheet arrangements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash
Flows</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table summarizes our cash flows for the periods indicated (amounts are rounded to nearest thousands):</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net cash provided by (used
    in):</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font-family: Times New Roman, Times, Serif; width: 40%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Operating activities</span></td><td style="font-family: Times New Roman, Times, Serif; width: 3%"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Investing activities</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(80,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(16,000</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">7,986,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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  <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Net increase (decrease)
    in cash</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
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    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,816,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">1,312,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(275,000</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
cash used in operating activities for the six months ended June 30, 2022 totaled $2.5 million, compared to net cash used in operating
activities for the six months ended June 30, 2021 of $2.9 million. The decrease in net cash used in operations for the six months ended
June 30, 2022 was primarily to fund our increase in net loss, offset primarily by $1.5 million amortization of debt discount, $611,000
of financing costs, and $396,000 of increased stock based compensation. Net cash used in operating activities for the year ended December
31, 2021 totaled $5.3 million, compared to net cash used in operating activities for the year ended December 31, 2020 of $2.5 million.
The increase in net cash used in operations for the year ended December 31, 2021 was primarily to fund our net loss, offset by $713,000
amortization of debt discount and $1.7 million of increased stock based.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
cash used in investing activities was approximately $80,000 for the six months ended June 30, 2022, compared to $16,000 net cash used
in investing activities for the six months ended June 30, 2021, and was for purchases of property and equipment. Net cash used in investing
activities was approximately $1.4 million for the year ended December 31, 2021, compared to $390,000 for the year ended December 31,
2020, and was for the purchase of property and equipment.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net
cash provided by financing activities for the six months ended June 30, 2022 was approximately $1.6 million, which included proceeds
of $1.5 million on the exercise of warrants, proceeds of $195,000 received in the private placement of common stock offset by deferred
offering costs of 42,000 and repayments of $6,000 of a loan payable. Net cash provided by financing activities for the six months ended
June 30, 2021 was $4.7 million, which included proceeds of $4.8 million received in the private placement of common stock, offset by
a $100,000 payment of our patent purchase obligation and repayments of $4,000 of a loan payable. Net cash provided by financing activities
for the year ended December 31, 2021 was $8.0 million, and included proceeds of $5.2 million received in the private placement of common
stock, proceeds of $3.0 million on our issuing convertible notes, offset by deferred offering costs of $186,000, a $100,000 payment of
our patent purchase obligation, and repayments of $7,000 of a loan payable. Net cash provided by financing activities for the year ended
December 31, 2020 was $2.6 million, and included proceeds of $2.5 million received in the private placement of common stock, repayment
of advances to related parties of $68,000, and proceeds of $38,000 from a SBA PPP note payable.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Critical
Accounting Policies</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
&#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; section is based upon our financial
statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;U.S.
GAAP&#8221;). The preparation of our financial statements requires that we make estimates and judgments that affect the reported amounts
of assets, liabilities, net sales and expenses and related disclosures. On an ongoing basis, we evaluate our estimates, including, but
not limited to, those related to inventories, income taxes, accounts receivable allowance, fair value derivatives, and reserve for warranty
claims. We base our estimates on historical experience, performance metrics and on various other assumptions that we believe to be reasonable
under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities
that are not readily apparent from other sources. Actual results will differ from these estimates under different assumptions or conditions.
We apply the following critical accounting policies in the preparation of our financial statements:</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use
of Estimates</i></b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date
of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ
from those estimates. Those estimates and assumptions include impairment testing of recorded long-term tangible and intangible assets,
the valuation allowance for deferred tax assets, accruals for potential liabilities, assumptions made in valuing stock instruments issued
for services, and assumptions used in the determination of our liquidity.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Revenue
Recognition</i></b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
recognize revenue in accordance with Accounting Standards Codification (ASC) 606, <i>Revenue from Contracts with Customers</i> (&#8220;ASC
606&#8221;). The underlying principle of ASC 606 is to recognize revenue to depict the transfer of goods or services to customers at
the amount expected to be collected. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the
terms of contract(s), which include (1) identifying the contract or agreement with a customer, (2) identifying our performance obligations
in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance
obligations, and (5) recognizing revenue as each performance obligation is satisfied.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
do not have any significant contracts with customers requiring performance beyond delivery, and contracts with customers contain no incentives
or discounts that could cause revenue to be allocated or adjusted over time. Shipping and handling activities are performed before the
customer obtains control of the goods and therefore represent a fulfillment activity rather than a promised service to the customer.
Revenue and costs of sales are recognized when control of the products transfers to our customer, which generally occurs upon shipment
from our facilities. Our performance obligations are satisfied at that time.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
products are offered for sale as finished goods only, and there are no performance obligations required post-shipment for customers to
derive the expected value from them.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
do not currently allow for returns, except for damaged product returns. Damaged product returns have historically been insignificant.
Because of this, the stand-alone nature of our products, and our assessment of performance obligations and transaction pricing for our
sales contracts, we do not currently maintain a contract asset or liability balance for obligations. We assess our contracts and the
reasonableness of our conclusions on a quarterly basis.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stock
Compensation Expense</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
periodically issue stock options to employees and non-employees in non-capital raising transactions for services and for financing costs.
We account for such grants issued and vesting based on ASC 718, <i>Compensation-Stock Compensation</i> whereby the value of the award
is measured on the date of grant and recognized for employees as compensation expense on the straight-line basis over the vesting period.
We recognize the fair value of stock-based compensation within our Statements of Operations with classification depending on the nature
of the services rendered.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
fair value of each option or warrant grant is estimated using the Black-Scholes option-pricing model. We are a private company and lack
company-specific historical and implied volatility information. Therefore, we estimate our expected stock volatility based on the historical
volatility of a publicly traded set of peer companies within the agriculture technology industry with characteristics similar to us.
The expected term of the stock options has been determined utilizing the &#8220;simplified&#8221; method for awards that qualify as &#8220;plain-vanilla&#8221;
options. The expected term of stock options granted to non-employees is equal to the contractual term of the option award. The risk-free
interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods
approximately equal to the expected term of the award. Expected dividend yield is zero, based on the fact that we have never paid cash
dividends and do not expect to pay any cash dividends in the foreseeable future.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
estimate the fair value of common stock using an appropriate valuation methodology, in accordance with the framework of the American
Institute of Certified Public Accountants&#8217; Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued
as Compensation. Each valuation methodology includes estimates and assumptions that require our judgment. These estimates and assumptions
include a number of objective and subjective factors, including external market conditions, guideline public company information, the
prices at which we sold common stock to third parties in arms&#8217; length transactions, the rights and preferences of securities senior
to our common stock at the time, and the likelihood of achieving a liquidity event such as an initial public offering or sale. Significant
changes to the assumptions used in the valuations could result in different fair values of stock options at each valuation date, as applicable.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Recent
Accounting Pronouncements</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See
Note 2 of Notes to Financial Statements contained within for management&#8217;s discussion of recent accounting pronouncements.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="k_8"></span>BUSINESS</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>Overview</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Harvest
is an agricultural innovation company with products backed by a portfolio of patented and patent pending technologies focused on solving
several critical challenges faced by agribusinesses: maximizing crop yield, accelerating crop growth, optimizing land and water resources,
reducing labor costs and mitigating negative environmental impacts.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
advanced agriculture technology (Opti-Filter&#8482;) and precision farming (Opti-View&#8482;) platforms enable commercial growers and
home gardeners to harness, optimize and better utilize sunlight, the planet&#8217;s most fundamental and renewable natural resource.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>The
Power of Sunlight </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Agriculture
plays a vital role in society. Our survival is based on a sunlight-driven biochemical chain of reactions in which carbon dioxide from
the air and water from the soil are transformed into carbohydrates and oxygen &#8211; <i>Photosynthesis</i>. Light absorption through
photosynthesis is the cornerstone of all plant growth. It is the very foundation of our food supply as well as the oxygen we breathe.
</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Opti-Filter&#8482;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Plants
detect and respond to different aspects and qualities of light &#8211; light intensity, spectral composition, direction, scattering,
duration. Photo-selective filtration of sunlight has well documented effects on numerous crops in different climates. This chromatic
filtration can be used to promote flowering, improve fruit-set, regulate time-to maturation, fruit-size and color. <span style="background-color: white">Our
Opti-Filter technology creates an optimized light environment that is detected by the crop canopy and conveyed throughout the canopy
as well as the root system as positive signals to thrive, resulting in crops that are more active, productive, efficient, and healthy.
</span>Opti-Filter technology delivers the most beneficial parts of the light spectrum directly to plants at all stages of development.
By directing sunlight to where it is needed, filtering the light to favor the red end of the spectrum, and providing an optimized micro-climate
environment, Opti-Filter has been proven in over 65 field trials to accelerate growth and enhance productivity in an array of high-value
crops.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Filter
is a proprietary platform technology embedded in our family of products. In its various applications, Opti-Filter collects, spectrally
modifies, and disperses sunlight into shaded and underproductive areas of the inner and lower canopy of a wide variety of crops. Through
this process, Opti-Filter technology makes sunlight more productive by optimizing its spectral composition to provide plants with red-enriched
light that stimulates growth and productivity. Opti-Filter technology, in its various applications, also creates a microclimate environment
that promotes growth by providing protection from wind, cold and other harsh environmental conditions.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Opti-Filter family of products has been developed and tested in over 65 multi-year field trials &#160;during five years with leading
commercial growers in California&#8217;s Central Valley, Salinas Valley, Coachella Valley, Napa Valley and Sonoma regions. Through these
trials we believe we have demonstrated that our proprietary technology effectively:</span></p>

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<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increases
    revenue per acre by improving production and fruit/nut quality in mature vineyards and orchards; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerates
    growth of newly planted crops and shortens time to first crop and maturity; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increases
    production and accelerates growth without increasing irrigation needs, thus improving land and water resource utilization; </span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advances
    root density and development and mitigates plant daily water stress; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reduces
    labor costs associated with pruning, canopy management, training, other related farming practices; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Protects
    plants from harsh weather conditions, animals and, in some cases, insect pests.</span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Opti-View&#8482;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-View
is a multi-vendor precision agriculture platform designed to optimize farmers&#8217; ability to manage their crops and key inputs including
water and labor. Opti-View is a proprietary and highly sophisticated AI and machine learning based system that integrates data from our
own suite of sensors with data streams from strategic partners. This innovative system is designed to produce powerful predictive analytics
that will empower our customers to make better farming decisions. We call this Agricultural Intelligence&#8482;.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are committed to the development and utilization of established and emerging technologies to enhance the impact of Opti-Filter technology
and provide valuable information for our ongoing research. Accordingly, we have committed considerable resources under the guidance of
a world-class team to the creation of Opti-View.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that the Opti-View and Opti-Filter technology platforms, which are both secured by robust patent protection (see &#8220;Intellectual
Property&#8221; below) are complementary and highly innovative systems with very large addressable markets. Precision Agriculture is
a large and fast growing industry that is benefiting from steady increases in commercial adoption.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>Our
Strengths </b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that we have several key strengths that provide us with a competitive advantage:</span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Transformative
    agricultural technology platform with proven technology and multiple product applications: </i>Our technology is patented, functional
    and proven with a growing number of customers across major markets in North America and around the world. We expect this trend to
    accelerate as our base of installations grows.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Intellectual
    property portfolio</i>: Opti-Harvest owns five patent families, including two U.S. patents, one granted European patent, granted
    patents in each of Brazil, Chile, Peru, Israel, and Mexico, as well as one pending international (PCT) application and over thirty
    additional patent applications pending worldwide as of May 30, 2022. Opti-Harvest has 5 years of R&amp;D experience, and continues
    to drive innovation.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i>Strong
    ecosystem relationships</i>: Through the course of the previous five years and over 65 field trials</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span style="background-color: white">,
    Opti-Harvest has developed strong collaborative relationships with many leading growers in the commercial agriculture ecosystem;
    growers who are in the best position to recognize the multiple benefits our technology and products bring to their farming initiatives.
    These industry partnerships and collaborative relationships are key to our technical and economic success and are not easily replicated.</span></span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i>Commitment
    to ESG</i>: Opti-Harvest has an authentic and overarching commitment to ESG, sustainability and social impact. We are committed to
    a broad set of stakeholders, including our employees, our community, our environment, our customers, and our stockholders. This commitment
    aligns with our mission to provide farmer-focused solutions to sustainably feed our world. We see opportunities in many areas of
    the agricultural value chain to address some of today&#8217;s most significant challenges including food security, farmer livelihood,
    and resource use efficiency. </span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i>We
    are decarbonizing agriculture: </i>Fresh produce accounts for roughly one-tenth of food related greenhouse gas (GHG emissions), or
    approximately 1% of GHG emissions in the U.S. (transportation accounts for 28% of that carbon footprint). We are committed to developing
    technologies that reduce CO&#8322; emissions across our installed and potential customer base and that reduce the agriculture&#8217;s
    contribution to climate change. GHG emissions associated with fresh produce production include on-farm inputs (applied water, biocides,
    direct electricity use, direct fuel use and other materials and resources) as well as upstream GHG emissions associated with the
    production and supply of these inputs. We believe our technologies reduce consumption of several of these GHG inputs by improving
    production, operational efficiencies, and resource utilization. </span></td></tr>
  </table>
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<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>We
    are conserving resources: </i>An important physiological response to our technology includes as much as 50% mitigation of plant daily
    water stress, more efficient uptake of water and soil nutrients as well as increased photosynthetic uptake of carbon dioxide from
    the atmosphere.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Experienced
    leadership and scientific team</i>: Opti-Harvest has built an experienced multi-disciplinary leadership and scientific team with
    a strong track record of driving scientific and product innovation and revenue growth in several technology businesses. Each member
    of our leadership team has decades of experience in their respective area of expertise.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>We
    continue to drive innovation</i>. By continuing to focus on innovation and enhancement of our product offerings, we believe we can
    build significant market share, product usage and customer satisfaction. Our research and development, engineering, marketing and
    executive leadership teams bring expertise from a variety of fields including horticultural science, agronomy, optical physics, materials
    science, electronics and networking, product design, software development, machine learning and AI. </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Our
Growth Strategy</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
products are marketed to two key markets: commercial agriculture and home garden. We have developed products that accelerate growth,
increase production, reduce labor costs and optimize land and water resource utilization for both market segments.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are developing revenue streams for the following product lines:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Filter&#8482;
    Products </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ChromaGro&#8482;
    Products</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">OptiView&#8482;
    SaaS Licensing </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
of the growth initiatives outlined below depends on our ability to develop broad adoption of our products. We believe that the success
our field testing and extensive product development in collaboration with major commercial growers throughout California will promote
awareness and acceptance of our products. We intend to leverage this acceptance in both the consumer grower and commercial agriculture
segments through the execution of the following strategies:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>New
    product introduction</i>: Our initial commercialization strategy is focused on our Opti-Filter suite of products. We will initially
    focus on converting existing relationships &#8211; commercial growers with whom we have partnered in testing, developing, and proving
    our technology &#8211; to become customers and advocates of our commercial products. The introduction of our Opti-View platform will
    represent an important opportunity to expand revenues from existing Opti-Filter customers as well as to offer stand-alone precision
    agriculture solutions to a broad addressable market. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Expansion
    into new geographies</i>: Opti-Harvest will initially derive most of its business from select markets in North America. As we build
    momentum by expanding our existing customer base and building awareness through new sales and marketing initiatives, we anticipate
    significant growth opportunities in additional regions in North America and in international markets.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Finance
    / Lease Model</i>: We intend to establish finance partners that will allow us to offer attractive financial terms to commercial agriculture
    customers. We believe that offering this option to prospective customers will serve to accelerate adoption and increase the sales
    velocity and scale of our business. </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Harvest&#8217;s
growth and success is dependent upon developing and implementing go-to-market strategies that ensure superior customer satisfaction,
retention, and expansion. As Opti-Harvest transitions from highly successful field trials to comprehensive commercialization initiatives,
opportunities for industry partnerships and/or developing marketing, sales and distribution capabilities internally will be evaluated
and piloted to ensure all aspects of customer and product support are validated.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Go-to-Market</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe there are clear and subtle trade-offs between internal development of these capabilities and partnering with existing industry
players to execute on our go-to-market strategies. These trade-offs include speed of deployment, geographic coverage, cost and control
of our brand and reputation. Partnering may provide benefits for speed, coverage, and cost, while internal development may provide more
brand and corporate reputation control and direct customer relationships. Potential partners to be considered will be farm equipment
dealerships, irrigation distributors, and other agricultural retailers providing fertilizer, crop protection and technology products
to growers in the field.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
go-to-market processes begin after the customer acquisition process is complete and there are signed contractual commitments between
Opti-Harvest and the grower customer. These sub-processes will need to cover the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Installation
</b>&#8211; Installation of Opti-Harvest products in grower fields will require reliable personnel, the appropriate tools, expertise,
and training. The in-field installation of the Opti-Harvest products are not very complex and will allow for fairly quick training of
either company or partner employees.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Grower
training </b>&#8211; The successful implementation of the Opti-Harvest products will require some basic training of growers. It will
be most important in the customer acquisition process that the growers are well informed about the use and benefits of each product purchased.
At the time of installation, the grower&#8217;s employees will need to have brief training on how to install and monitor the products
in-field to identify when the products may need to be adjusted and/or replaced due to potential defects or weather-related impairment.
Growers will also need to modify some of their farming practices when using our products &#8211; this usually will result in less labor
and other potential savings.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Warranty
</b>&#8211; Opti-Harvest will provide a 12-month warranty &#160;policy for each product implemented in the field. This warranty will
require Opti-Harvest to repair or replace any products as quickly as possible if defects are identified. This will also require optimal
inventory processes that allow for timely replacement when necessary.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Support
</b>&#8211; It is anticipated that minimal product support will be necessary with the Opti-Harvest products. However, online and phone
options will be provided to allow growers to quickly ask questions and/or report problems in the field.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Upgrades
</b>&#8211; It is expected that there will be minimal product upgrade requirements, while the products are functional in the field. Upgrades
will be provided through natural replacement processes given the lifecycles of each individual product.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Recycle
</b>&#8211; At the end of the product lifecycle, the materials used in the Opti-Harvest products will be collected in the field and transported
to a recycling partner to ensure the optimal environmental impact.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Current
Challenges in Agriculture and Agribusiness</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Society
is critically dependent on agriculture. It is the foundation of our food chain and provides 27% of the world&#8217;s jobs. From its inception,
its primary purpose has been to feed and fuel human activity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Driven
by innovation and investment, agricultural productivity has increased substantially. Agricultural output nearly tripled between 1948
and 2015 &#8211; even as the amount of labor and land used in farming declined by approximately 74% and 24%, respectively. During that
same period farmers in many parts of the world have increased efficiency and productivity. But agriculture is entering a new era marked
by scarcer resources, greater demand and potentially higher price and supply volatility. Going forward, the world must produce far more
with less.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="forms-1_010.jpg" alt="" style="height: 81.75pt; width: 345pt" /></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
meet this challenge, farmers must increase production per acre. They need to reduce the risk of crop failure, minimize operating costs
and sell crops for the highest price possible. This requires, amongst other things, effectively managing resources like land, water and
other inputs while minimizing the impact of weather and pests.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yet
farmers are confronted with increasing pressure from climate change, soil erosion, biodiversity loss, changing consumer tastes in food
and concerns about how their food is produced. Nevertheless, farmers and producers are tasked with sustaining a global population with
food production that will need to increase by 50% or more by 2050. Compounding the challenge is the reality that farms around the world
have unique characteristics and challenges: different landscapes, soils, available technologies, access to needed capital, supply and
distribution chains, and highly variable potential yields.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Climate.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 58%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    effects of climate change are increasingly impacting farmers&#8217; ability to grow the food we need. Increasingly volatile weather
    and more extreme weather events can change growing seasons, limit the availability of water, allow weeds, pests and fungi to thrive,
    all of which reduce crop productivity.</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 40%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="forms-1_011.jpg" alt="" style="height: 1in; width: 3in" /></span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soil
erosion is reducing the amount of arable land for agriculture and declining biodiversity affects the pollination of crops. Farmers are
under pressure to conserve water and use fewer agricultural inputs.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 45%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 45%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="forms-1_012.jpg" alt="" style="height: 47.25pt; width: 214.5pt" /></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rise
in the frequency of droughts and floods, all of which tend to reduce crop yields.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Consumer
needs and expectations drive the food value chain.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Farmers
need to keep pace with increasing demand for more food and higher quality food. In addition to concerns about adequate food supply, society
has rising expectations for &#8216;good food&#8217;, coupled with expectations that farmers will reduce negative impacts that conventional
farming practices may have on the environment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Driving
Innovation by Tapping into Our Most Fundamental Resource</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Technology
is a fast-paced industry that impacts our lives, our society, and culture in countless ways. The speed and scale with which technology
can disrupt existing business and create new opportunities and industries is staggering. Agriculture technology (&#8220;Agtech&#8221;),
new breeding techniques, soil and biome enhancement, precision agriculture, robotics, satellites, artificial intelligence, big data and
the Internet of Things (&#8220;IoT&#8221;) are being introduced and adopted at a remarkable pace.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Innovations
in animal and crop genetics, chemicals, robotics, global positioning systems (GPS), imagery, sensors and the use of big data have driven
changes in the U.S. farming sector, causing total farm output to more than double between 1948 and 2015, even while the amount of land
and labor devoted to farming declined.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
power, promise, and potential of Agtech is its capacity to make agriculture more productive and sustainable. For example, because of
Agtech, the farm-to-fork process is becoming more automated, connected, sensed, and traced, while data-driven technologies promise to
boost agricultural productivity by increasing yields, reducing losses and lowering input costs.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yet,
despite these advances in Agtech and the technologies introduced in the information age, we believe that sunlight remains our most fundamental
resource; one that can unlock even greater potential for agricultural production and resource management through the development of innovative
technologies that optimize plant utilization of sunlight.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From
home garden growers to large commercial scale agribusinesses, sunlight plays a crucial role and light interception is a major limiting
factor in production and product quality in a wide variety of crops. Plants are green because they absorb the most productive parts of
the light spectrum and reflect what they don&#8217;t need. Green light is a signal for plants to slow-down or stop growth. It is nature&#8217;s
way of separating plants to avoid overcrowding but has become a limiting factor in the modern intensive agriculture. We exploit this
well-established but underutilized scientific phenomenon.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Harvest
is focused on developing best-in-class agriculture technologies that help growers efficiently increase production, improve economic performance
and environmental sustainability. We are driving innovation by harnessing nature&#8217;s most fundamental resource &#8211; sunlight itself,
in a way never done before.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
Opportunity</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Commercial
Farming</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agriculture,
food, and related industries contributed $1.109 trillion to the U.S. gross domestic product (GDP) in 2019, a 5.2% share. The output of
America&#8217;s farms contributed $136.1 billion of this sum&#8212;about 0.6% of GDP.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="forms-1_013.jpg" alt="" style="height: 236px; width: 670px" /></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">According
to the most recent Census of Agriculture, production costs for the approximately 110,000 farms actively producing fruit, tree nuts and
berries had increased 17% over the prior census period (2012). Approximately 45% of these farms reported a net loss.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Against
this background, rapid population growth, increased urbanization, and mounting stress on natural resources have increased the need for
agriculture to become a more efficient, sustainable industry.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Agtech sector has the potential to completely reshape global agriculture, dramatically increasing the productivity of the agriculture
system while reducing the environmental and social costs of current Ag production practices. We will need to produce more food in the
next forty years than during the entire course of human history. In order to do so on a planet showing signs of severe environmental
stress, Agtech innovations will be essential. We believe human ingenuity can rise to the occasion and overcome these global challenges,
but to do so will require significant investment, commitment, and AgTech-specific entrepreneur support systems to foster innovation in
the field.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
World Economic Forum estimates that if just 15% to 25% of farms were to adopt precision agriculture technologies, global crop yield could
increase by 10% to 15% by 2030 while at the same time reducing greenhouse gas emissions and water use by 10% and 20% respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Demand
for agricultural equipment is cyclical, influenced by, among other things, farm income, farmland values, weather conditions, the demand
for agricultural commodities, commodity and protein prices and general economic conditions, as well as government policies and subsidies.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
global farm machinery and equipment market is expected to grow from $183.8 billion in 2020 to $201.8 billion in 2021 at a compound annual
growth rate (CAGR) of 9.8%</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Field
Marketing &amp; Analysis</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Field
monitoring &amp; analysis technologies, collectively referred to as &#8220;precision agriculture&#8221; provide software and sensors
to monitor, analyze, predict, and optimize in-field elements including crops, water, weather, and pests. Startups in this sector offer
hardware sensors designed to collect specific farm data such as weather, moisture, and plant health. Other providers in the space develop
software that can interpret data and improve decision making.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Growers
have long been a critical market for field monitoring &amp; analysis companies promising significant benefits through data collection.
However, the promises of meaningful improvements through data collection have largely fallen short because growers have lacked sufficient
tools to interpret and act on the data. This has led to a significant level of technology fatigue and resistance to new technologies.
However, with data collection infrastructure well advanced, emerging AI &amp; machine learning and predictive analytics technologies
are poised to complete the loop by improving decision-making capabilities and offering meaningful recommendations based on data trends
and analysis.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
estimated market size of the field monitoring and analysis, based on the global revenues of precision agriculture providers, is estimated
to be $5.8 billion in 2020 and growing at a CAGR of 13.6% to reach $11.1 billion by 2025.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Home
Garden Market</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
the global population expected to reach more than 10 billion by 2050, there is a continuous need to increase food production and buffer
stocks. In addition, we believe the COVID-19 pandemic has aggravated food insecurity in urban centers because of the disruption in the
food supply chain, aggravation of the physical and economic barriers that restrict access to food, and the catastrophic increase in food
waste because of labor shortages.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
is a need to adopt more resilient food systems, reduce food waste, and strengthen local food production. Enhancing availability at the
household and community levels through home gardening and urban agriculture is an important strategy.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Over
the recent years there has been growing interest to strengthen and intensify local food production in order to mitigate the adverse effect
of global food shocks and food price volatilities. Consequently, there is much attention towards home gardens as a strategy to enhance
household food security and nutrition.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Food
production within the cities include small land farming in households, local community gardens, indoor and rooftop gardens, vertical
farming, etc. We believe that home gardening is poised to play an important role in advancing food and nutritional security during and
after the COVD-19 pandemic, while also strengthening the provisioning of numerous ecosystem services</span>.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
home garden industry in the U.S. continues to expand accordingly. Recent data from the 2021 National Gardening Survey reports that: &#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">More
    than four in ten U.S. households (42%) report participating in some type of food gardening (vegetable gardening, fruit tree cultivation,
    growing berries, or herb gardening) in 2020, significantly higher than in 2019 (33%). </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Among
    respondents from households who purchased one or more lawn and garden items in 2020, 39% (an estimated 40.2 million households) say
    they spent slightly (24%) or a great deal (14%) more in 2020 on lawn and garden supplies and activities than they did in 2019, just
    under half (48%, 50.3M) say they spent about the same amount, and 13% (13.8M) say they spent slightly (8%) or a great deal (6%) less.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Among
    those who say they participated in lawn and garden activities more in 2020 than they did in 2019, nearly three-quarters (72%) say
    they also spent more in 2020 than in 2019. Even among those who say they participated less in 2020 than in 2019, 31% say they spent
    more while 38% say they spent less.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amongst
    U.S. households, 30.4% (39.1M) report participating in vegetable gardening, 23.5% (30.1M) report participating in tree care, 20.0%
    (20.5M) report participating in container gardening, 14.4% (18.4M) report cultivating fruit trees and 7.7% (9.9M) report growing
    berries.</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    estimated 18.4 million households participated in cultivating fruit trees in 2020 represents an increase of 35.4% since 2019 (13.6M)
    and nearly 2 million higher than the five-year average of 16.5M.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
    an estimated 95.8 million participating households in 2020 and an average spending of $458.26 per household, participating households
    spent an estimated $43.9 billion. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Just
    under half (47.5%) of participating households purchased one or more outdoor containers and season extending products in 2020, significantly
    higher than the percentage of participating households which purchased this product type in 2019 (41.1%) and higher than the five-year
    average of 42.8%.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
broader industry data above supports, in our opinion, our outlook that the addressable market for our home and garden products is a significant
portion of the $8.3 billion spent in the category:</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="forms-1_014.jpg" alt="" style="height: 306px; width: 670px" /></span></p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Our
Technology and Products</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are building a global agriculture technology business providing advanced equipment and precision agriculture software and solutions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
technologies fall into three categories:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advanced
    Farm Equipment (Opti-Filter family of products), </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Precision
    Agriculture (Opti-View), and </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Home
    garden products (ChromaGro, powered by Opti-Filter). </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Opti-Filter&#8482;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Filter
products are designed to optimize land and water resources by utilizing sunlight in novel ways to accelerate growth in newly planted
crops (Opti-Gro, Opti-Shield and ChromaGro), and improve production in mature vineyards and orchards (Opti-Skylights and Opti-Panels).
Opti-Filter photo-selective technology turns sunlight into scattered, red-enriched light, maximizing the sun&#8217;s most productive
rays and filtering out those that inhibit growth and production, which results in enhanced foliage activity, fruitfulness, shorter time
to production, and substantial increases in marketable yield. These benefits are enhanced further by significant reductions in labor
costs and other related expenses associated with conventional farming practices. Increasing outputs (yield, revenues) and lowering inputs
(labor costs, resources) are age-old challenges for farmers. Our consumer product line (ChromaGro) is focused on the home garden market.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Opti-View</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Opti-Filter family of products is complimented by our unique Agricultural Intelligence&#8482; technology which collects and processes
critical environmental data from a variety of sensors and industry partners to provide predictive analytics and recommendations that
are designed to enable growers to incorporate powerful data into their decision-making process. Currently, we have approximately 9 million
records to correlate with our plant physiology data, and we are developing a proprietary Agricultural Intelligence framework to integrate
our data with data streams from our partners. We believe this system will provide far greater insights than any single system could and
will enable growers to collect and interpret crucial data from which to make better choices to improve yield and maximize resources including
irrigation and labor.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sunlight
as a Service &#8482;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that our products will provide innovative, sustainable solutions for agriculture by focusing on:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Optimizing
    Nature &#8211; Our sustainable Ag technology platform is powered by the sun. It maximizes a free and renewable resource with no need
    for additional chemicals or fertilizers. We bring the benefits of a greenhouse (control of light, climate and labor) to open field
    cultivation for accelerated crop development, greater crop yields and significant savings in energy, labor, water, and carbon emissions.
    </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Water
    Use Efficiency &#8211; Stimulating root development by providing crops with tailored light and physical protection creates a microclimate
    which limits evaporation. Our products allow more efficient water uptake, thus reducing plant drought stress and irrigation needs.
    </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Land
    Use Efficiency &#8211; Economic needs push growers to plant crops very close together. We solve the problem of shading that occurs
    in high density planting by maximizing light-interception beyond all known conventional practices, allowing better land use and optimized
    productivity for higher revenue per acre. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Carbon
    Fixation &#8211; Our products are carbon footprint-negative. By increasing photosynthesis and photomorphogenic activity, thereby
    accelerating and maximizing growth and production, we believe our products allow plants to fix more carbon from the atmosphere than
    they would without our technology. </span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclaim
    &amp; Recycle &#8211; Our products are made in the USA from highly durable HDPE, an eco-friendly and recyclable plastic. Our solution
    and services model will include a reclaim and recycle program to reduce waste and promote a sustainable product life cycle. </span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agriculture
    Intelligence &#8482; - In addition to our Ag technology platform, we will provide a comprehensive suite of Internet of Things (IoT)
    and AI solutions to help growers gain further insights into optimizing crop yield and resource use through predictive analytics and
    recommendations. These tools are also used to guide us in our own product development.</span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opti-Filter&#8482;
Family of Products</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe Opti-Filter technology combines innovative industrial design with established science and leverages our scientific team&#8217;s
decades of combined experience in the fields of biochemistry, plant physiology, biophysics, and optical physics.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Filter
    photo-selective technology turns sunlight into scattered, red-enriched light, maximizing the sun&#8217;s most productive rays and
    filtering out those that inhibit growth and production</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Red-enriched
    light fuels photosynthesis and triggers positive photomorphogenic plant responses. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
    filtering sunlight to the red end of the spectrum while diffusing and directing light where it is needed, Opti-Filter accelerates
    plant growth and enhances productivity.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Filter
    promotes enhanced foliage activity, shorter time to production, maturity and substantial increases in marketable yield &#8211;all
    by simply using what&#8217;s already there: SUNLIGHT.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Growth-Accelerating
Products</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 28%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerates
    plant establishment &amp; development</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reduces
    time to production &amp; maturity</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Overcomes
    shading of vine / tree replants by adjacent older vines / trees</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reduces
    labor costs by naturally training vines to the trellis</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opti-Gro</b></span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Newly
    planted &amp; replanted vines (table, raisin, wine grapes)</span></p></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opti-Shield</b></span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Newly
    planted &amp; replanted tree crops (citrus, almond, pistachio, avocado, etc.)</span></p></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ChromaGro</b></span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vegetable
    Gardens (tomato, pepper, herbs, etc.)</span></p></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NA</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opti-Gro
Units</b> function as individual plant-growth chambers that target multiple biological processes to naturally accelerate growth and shorten
time to first crop and maturity in table and raisin grapes, and wine grape vines.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Optimized
    light and microclimate environment promotes &amp; accelerates vine growth and development</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shortens
    time to 1<sup>st</sup> crop and maturity.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Naturally
    trains vines upward reducing labor costs associated with training.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Durable
    chamber protects from environmental stress and repels pests.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 100%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Replaces
    currently used small diameter grow tubes that constrain rather than accelerate growth.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="forms-1_2.jpg" alt="" style="height: 334px; width: 490px" /></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="forms-1_3.jpg" alt="" style="height: 300px; width: 200px" /></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Applications</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Opti-Gro units are applied soon after vine planting and typically left in place for one season only. However, their positive impacts
last several seasons after their removal.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Vine
Replants</span>. Table grape crops experience on average 3% to 5% annual loss, wine grapes can experience over 20% loss annually and all
require vines to be replaced. Replanting missing vines is critical to maintaining vineyard production and extending economic life. However,
replanted vines seldom catch up with the rest of the vineyard due to shading by adjacent mature vines, and shortage in labor required
for vine training. Opti-Gro units overcome heavy shading from adjacent vines, accelerate vine canopy and root development, provide self-training,
and shorten time to production and maturity by 2-3 years.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Newly
Planted Vineyards</span>. Vine growth and development in cool climate regions can take 4-5 years to reach full production. Opti-Gro units
protect vines through the herbaceous stage becoming lignified (woody) in year 1, surviving the winter and continuing development to production
by year 2. Tailored light delivery and controlled microclimate result in dramatically faster, longer, and more vigorous vegetative growth.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
current state-of-the-art alternative to Opti-Gro is a small diameter grow tube, which constrains rather accelerates growth.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Field
Tests</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup>&#160;</sup></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have conducted fully randomized field trials, each composed of 20+ replicates per treatment performed in wine grapes&#160;.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Warm
Climate</span>. In 2019-2021 trials in &#8216;Thompson seedless&#8217; raisins, &#8216;Autumn Royal&#8217; and &#8216;Ivory&#8217; table
grapes located around SJ Valley, California, Opti-Gro treated replant vines continued growth throughout the season while control (common-practice)
replant vines ceased growing in June due to excessive shading&#160;. 50-300% (cultivar dependent) larger trunk diameter was detected
by end of the 1<sup>st</sup> season&#160;. Fruitfulness in the 2<sup>nd</sup> season was enhanced by 300% in vines treated by Opti-Gro
in the former season relative to control replant vines&#160;.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Cold
Climate</span>. In 2018-2020 trials (&#8216;Pinot Noir&#8217; wine grape in Monterey County; &#8216;Cabernet Sauvignon&#8217; and &#8216;Chardonnay&#8217;
in Sonoma County), the Opti-Gro vines trunk diameter continued growth throughout the season, extending into Autumn, unlike control vines
that ceased growing by mid-summer&#160;. The result was 20-300% (cultivar dependent) larger trunk diameter than control vines&#160;.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vines
with Opti-Gro (based on field tests&#160;)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Over
    2x faster growth</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5x
    more likely to survive winter frost dieback </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reach
    time to full production 1-3 years faster</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20-300%
    increase in trunk diameter </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">300%
    increase in 2<sup>nd</sup> year&#8217;s fruitfulness </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opti-Shields
</b>are designed to fit newly planted fruit trees, nut trees and other crops. The Opti-Filter technology provides a spectrally modified
light environment, wind-breaking and improved microclimate that accelerates establishment and growth of newly planted tree crops, shortening
time-to-production and maturity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="forms-1_4.jpg" alt="" style="height: 209px; width: 320px" /></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="forms-1_5.jpg" alt="" style="height: 219px; width: 340px" /></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Applications</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Shield
are applied soon after planting and kept for two years.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Field
Tests</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have conducted fully randomized field trials on Trees with Opti-Shield, each composed of 20+ replicates per treatment&#160;.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
several 2019-2021 field trials (newly planted Sumo, Orri, and Tango mandarins; almonds; pistachio) Opti-Shield canopy volume and foliage
density increased by 50-200% within 1-2 years (crop dependent) compared to control trees while daily water stress was reduced by 50&#160;%.
Insect-pest infestation in the OH-trees was reduced by 70&#160;%. First fruit production increased by 50-100% in citrus mandarin relative
to common practice trees&#160;.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
field tests have shown that trees with Opti-Shield have&#160;:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1-2
    years faster to full production </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">200%
    accelerated in canopy size</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50%
    increase to foliage density </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">70%
    reduction in Thrips infestation</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Products
Improving Production</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 28%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provides
    spectrally modified, diffused light for better fruit yield </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Self-training;
    greatly reduced canopy management </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Protection
    from rain, hail, frost, sunburn</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Design
    for present and future trellising systems </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opti-Panels</b></span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wine
    &amp; table grapes; Trellis tree crops</span></p></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opti-Panels
</b>utilize Opti-Filter technology to reduce labor costs and improve production in mature vineyards and crops grown on trellis systems.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Translucent
    panels provide photoselective light environment &amp; self-training for table grapes and other fruit crops grown on trellis system;
    </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canopy
    is kept open all season improving fruitfulness, cluster and fruit quality the following year; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Labor
    required to manage canopy, position shoots and branches is drastically reduced; </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Crop
    maturity in table grapes can be advanced, delayed or not affected based on selection of panel chromatics; and </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Continuous
    protection from rain, sunburn, frost and hail. </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="forms-1_6.jpg" alt="" style="height: 170.25pt; width: 227.25pt" /></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img src="forms-1_7.jpg" alt="" style="height: 165.75pt; width: 220.5pt" /></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Applications</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rapid
canopy growth during peak season creates excessive shading resulting in delayed coloration, uneven ripening and unmarketable waste. Aggressive,
repeated pruning and trimming is required during the season. The Opti-Panels maintain the center trellis open throughout the season.
The Opti-Panels are installed by retrofitting into current trellis systems, or along with initial construction, and remain in the vineyard
or orchard for many years.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Field
Tests</i>&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have conducted fully randomized field trials, each composed of 20+ replicates per treatment during 2017-2019, followed by semi-commercial,
non-randomized trials in 2020-2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2017-2019 table grape trials (&#8216;Flame Seedless&#8217;, &#8216;Krissy&#8217;, &#8216;Allison&#8217; cultivars) Opti-Panel treated
vines demonstrated a 40% increase in crop value. Grapes ripened earlier or later in the season (cultivar and Panel color dependent) while
berry size, width and length increased relative to the control. In the 2020-2021 table grape trials (&#8216;Ivory&#8217;, &#8216;Krissy&#8217;,
&#8216;Allison&#8217;, &#8216;Scarlotta&#8217;, Autumn Crisp, Autumn King&#8217;, &#8216;Adora&#8217; cultivars) rain-protection function
was added to the Opti-Panels. Preliminary results demonstrate positive impact of the Red Panel on next year&#8217;s fruitfulness and
may add protection of the cluster berries from heat damage.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
a 2020 trellised peach trial the red Opti-Panel demonstrated earlier fruit maturation and 17% increase in harvested fruit.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
field tests &#160;have shown that trellised crops with Opti-Harvest:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ripen
    earlier or later in the season (crop and cultivar dependent) </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Have
    a 40% increase in crop value</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Are
    protected from rain, wind, and sunburns</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Are
    labor saving on pruning, leafing, training, positioning </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Have
    an open canopy for easy harvesting accessibility</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; vertical-align: top; width: 28%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provides
    spectrally modified, diffused light for better fruit yield, size and quality</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>
                          <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reduces
    pruning of inner canopy </span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Improves
    water-use-efficiency</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Designed
    for conventional tree canopy </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opti-Skylight</b></span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Citrus,
    Pistachio, Cherry &amp; other tree crops</span></p></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes
    </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opti-Skylight
</b>solar funnels penetrate the canopy of mature fruit and nut trees to improve production in tree crops.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Parabolic
    collector concentrates and directs sunlight to the inner canopy, while translucent down tube delivers the production-enhancing effects
    of red enriched light throughout the canopy.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Active
    foliage developing around the formerly most shaded inner canopy, resulting in more productive canopy </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Field
    trials confirm increased productivity, earlier maturation, improvements in fruit size and quality, all with higher water use efficiency.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reduced
    labor costs associated with center canopy pruning. </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><img src="forms-1_8.jpg" alt="" style="height: 316px; width: 670px" /></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Applications</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">High
density plantings result in heavy shading. Sunlight reaches exterior foliage while inner canopies remain shaded, non-productive or produce
unmarketable fruit.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Field
Tests</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
a 2017-2019 trial (Sumo mandarin) Opti-Skylight treated trees produced 21% more total fruit and 44% more large fruit in the first season.
In the second season, too much fruit load (~20% above control) caused branch breaking.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
a 2018-2021 trial (Sumo mandarin) Opti-Skylight treated trees produced 6% more marketable fruit in the 1<sup>st</sup> treatment year
relative to control; 13% more in the 2<sup>nd</sup> year; and 47% more fruit in the 3<sup>rd</sup> year. Fruit ripened 1-2 weeks earlier
than control&#160;.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
a 2019-2020 trial (Tango mandarin) Opti-Skylight treated trees produced 22% more marketable-size fruit in 1<sup>st</sup> year; 4% more
total fruit, and 15% more fruit of large size in the 2<sup>nd</sup>, on-year; and 45% more marketable-size fruit in the 3<sup>rd</sup>
year.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
a 2018-2020 trial (pistachio) Opti-Skylight treated trees produced 24% higher in nut-yield in the 1<sup>st</sup> trial year (off-year);
16% higher in 2<sup>nd</sup>, on-year, and 34% higher than control in the 3<sup>rd</sup>, off-year. Nut quality was 9% higher in treated
trees relative to control&#160;.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
a 2019-2020 trial (pistachio) Opti-Skylight trees produced 11% higher nut yield in the 1<sup>st</sup> trial (on-) year relative to control,
and 16% higher yield in the 2<sup>nd</sup> (on-year). Nut quality was 8% higher in treated trees relative to control. The Opti units
additionally advanced nut maturation&#160;.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Field
trials were each comprised of 15-30 replicates / treatment, fully randomized. Reduced center-canopy pruning was applied in most trials.
Opti-Harvest treated trees suffered 50% less water stress during summer-autumn periods&#160;.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
field tests have shown that Trees with Opti-Skylight&#160;:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Have
    a 15-47% increase in yield&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Produce
    less non-marketable fruit waste</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Have
    50% less water stress during Summer-Autumn</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Have
    a $2,000-$12,000 increase in fruit value per acre, crop and year dependent.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ChromaGro</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are applying the knowledge, science and successful results of our Opti-Filter agribusiness products to the home garden market with ChromaGro.
A similar but modified version of our Opti-Gro product line, ChromaGro is designed for use in home gardens in rural (backyards, professional
gardens) and urban (patios, balconies and terraces) settings. Field trials have demonstrated over 200% increases in fruit yield as well
as protection from frost in tomatoes, peppers and beans.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span>&#160;<img src="forms-1_9.jpg" alt="" style="height: 240px; width: 670px" /></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opti-View</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">According
to the International Food Policy Research Institute, data-driven techniques can increase farm productivity by as much as 67% by 2050.
This type of increase will be essential for growers to meet expected demand caused by worldwide population growth and other environmental
factors.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-View
is a proprietary, high sophisticated, multi-vendor AI and machine learning precision agriculture platform. It integrates data from our
own suite of sensors with data streams from strategic partners. It&#8217;s designed to empower farmers with better data &#8211; by offering
valuable insights from predictive analytics so they can better manage their crop yields and key inputs including water and labor. We
call this Agricultural Intelligence&#8482;.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are committed to the development and utilization of existing and emerging technologies to enhance the impact of Opti-Filter technology
and provide valuable information for our ongoing research. Accordingly, we have committed considerable resources under the guidance of
a world-class team to the creation of Opti-View.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-View
roadmap:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Over
    the last several years we designed and successfully implemented a custom proof of concept Internet of Things environmental monitoring
    system. The system measures and reports basic parameters (such as visible and IR light, temperature, etc.) on a 15-minute basis.
    The system incorporates several hundred sensors installed at a variety of commercial growers in Central California. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    created a prototype cloud-based dashboard where the data feed is aggregated, organized, and stored. Approximately 9 million records
    are available for rudimentary analysis and graphical presentation. The system also incorporates real time messaging for reporting
    alarm conditions such as high heat. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    will build a data warehouse to hold results from our 60+ field experiments for correlation purposes.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-View
    is now being created to house our next generation cloud based dashboard with significantly enhanced presentation and analytic capabilities.
    Specifically, the ability to capture crop yield and environmental inputs to create AI training sets for predictive analytics and
    recommendations on how to improve crop yield and lower resource usage. This will be the alpha (internal) version of our Agriculture
    Intelligence platform.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    have started the design of the next generation of hardware to increase our capabilities with new functions such as multispectral
    and RGB imaging and more accurate local weather. We believe our next generation of gateways will have increased reliability and speed
    and allow for processing to be performed at the edge of the network to increase our capabilities and lower costs. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    will incorporate data-streams from industry partners to further enhance our Opti-View system. We believe that these additional data
    streams will make for more accurate predictions than those from a single stream alone. This is slated to be the first (beta) commercial
    deployment of Agricultural Intelligence.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Competition</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While
we are not aware of any company which markets and/or sells technology or products that compete directly with our Opti-Filter technology
and products, many agricultural technology companies are developing and commercializing technologies that purport to increase crop yield
by other methods such as Biolumic which is expanding work with ultraviolet waves to boost crop yields and crop enhancement, developing
products to protect and enhance crop yields.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, we compete with many companies developing and commercializing precision agriculture equipment and technology such as John Deere,
AGCO, CNH Industrial and Kubota Corp, drone companies including Aerobics, Taranis and Aerovironment, technology enablers that include
GPS companies such as Trimble and CiBo Technologies, data analysis companies such as Farmobile, CropX, Semcrop, Arable, SemiosBio, FarmX
and Climate Corp., DNA sequencies companies like Trace Genomics and applied technology business at Raven Industries as well as chip and
sensor companies ranging from NXP Semiconductors to STMicroelectronics that serve the &#8220;smart farming&#8221; market.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe that many of these companies are developing technologies, in particular those focused on genetics and chemicals, that may ultimately
be complimentary to ours.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
an established portfolio of intellectual property across each of our business segments, and a highly differentiated approach to building
technologies designed to leverage sunlight to drive agricultural efficiencies and crop yield, we believe that we are uniquely positioned
in the market to deliver our value proposition.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Intellectual
Property</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have pursued a thoughtful and aggressive IP strategy, balancing trade secret and patent protection of our innovation. Our patent portfolio
includes extensive international coverage expected to expire between 2034 (earliest filings) through 2041 (most recent filings), broadly
covering our Canopy, Grow, Shield, Barrel and Panel units, as well as our novel Internet of Things and related innovations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
patents cover Opti-Harvest light harvesting &amp; delivery and plant microclimate-regulating technologies.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Summary
of Opti-Harvest Patent Portfolio</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti
    Patent Family 1 is entitled &#8220;Harvesting, transmission, spectral modification and delivery of sunlight to shaded areas of plants,&#8221;
    and covers the Company&#8217;s core light harvesting technology. This family has a first filing date of 2013, is expected to expire
    in 2034, was originally filed by DisperSolar, and has since been acquired by Opti-Harvest. This patent family (including issued patent
    and pending applications) extends to a wide geography spanning major fruit producing regions across Europe, Israel, much of Latin
    America, China, and the United States. Representative issued US patent nos. 10,132,457 and 10,955,098 provide coverage of aspects
    of the Company&#8217;s foundational Opti-Skylight systems, and additional claim coverage is being pursued in a pending U.S. Continuation
    application.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti
    Patent Family 2 is entitled &#8220;Methods and devices for stimulating growth of grape vines, grape vine replants, or agricultural
    cash crops,&#8221; and covers the Company&#8217;s Opti-Grow and Shield technologies for improvement of growth of new plantings, for
    example grave vine replants. This patent family has a first filing date of 2017, and is expected to expire in 2038. Representative
    United States patent application no. 16/526,790 is pending before the USPTO. As with Family 1, the disclosure and pending claim scope
    are not limited to any specific crop or specific field application. This patent family is pending in a geography spanning major fruit
    producing regions across Europe, Israel, much of Latin America, South Africa, India, China, and the United States. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti
    Patent Family 3 is entitled &#8220;A light directing platform for a cultivar growing environment,&#8221; and covers the Company&#8217;s
    proprietary Internet of Things technology. This patent family has a first filing date of 2018, is expected to expire in 2039, and
    is pending in the United States (US 17/287,594), China, Europe, India, and Israel.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti
    Patent Family 4, filed in 2019, is entitled &#8220;Trellis Panels for Sunlight Delivery, Shoot Positioning, and Canopy Division&#8221;
    is expected to expire in 2040, covers Opti-Harvest&#8217;s Opti-Panel technologies, and is pending in Europe, Australia, New Zealand,
    Israel, much of Latin America (with an allowance having been issued in 2022 for Chile), South Africa, India, China, and the United
    States (17/571,937).</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti
    Patent Family 5, filed in 2020, is entitled &#8220;Agricultural Data Integration and Analysis Platform,&#8221; is expected to expire
    in 2041, agricultural data integration and analysis platforms, and is pending internationally (PCT/US2020/044046). </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have also applied for trademark protection for OPTI-HARVEST in the United States, Brazil, Chile, China, Europe, Hong Kong, India, Israel,
Mexico, Peru, and the United Kingdom.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have also applied for protection of design features of our Opti-Skylight units in Europe (granted in 2022), China, and the United States.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
expect to rely on, trade secrets, copyrights, know-how, trademarks, license agreements and contractual provisions to establish our intellectual
property rights and protect our brand and services. These legal means, however, afford only limited protection and may not adequately
protect our rights. Litigation may be necessary in the future to enforce our intellectual property rights, protect our trade secrets
or determine the validity and scope of the proprietary rights of others. Litigation could result in substantial costs and diversion of
resources and management attention.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
intend to seek the widest possible protection for significant product and process developments in our major markets through a combination
of trade secrets, trademarks, copyrights and patents, if applicable. We anticipate that the form of protection will vary depending upon
the level of protection afforded by the particular jurisdiction.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
intend to register trademarks as a means of protecting the brand names of our companies and products. We intend protect our trademarks
against infringement and also seek to register design protection where appropriate.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
rely on trade secrets and unpatentable know-how that we seek to protect, in part, by confidentiality agreements. We expect that, where
applicable, we will require our employees to execute confidentiality agreements upon the commencement of employment with us. We expect
these agreements to provide that all confidential information developed or made known to the individual during the course of the individual&#8217;s
relationship with us is to be kept confidential and not disclosed to third parties except in specific limited circumstances. The agreements
will also provide that all inventions conceived by the individual while rendering services to us shall be assigned to us as the exclusive
property of our company. There can be no assurance, however, that all persons who we desire to sign such agreements will sign, or if
they do, that these agreements will not be breached, that we would have adequate remedies for any breach, or that our trade secrets or
unpatentable know-how will not otherwise become known or be independently developed by competitors.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Manufacturing</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
products are all designed, and we expect to manufacture them in the United States, with the exception of some components and accessories
used for mounting and installation related uses. We believe we have adequate manufacturing capabilities, including manufacturing facilities
with whom we have established working relationships and consultants with expertise in our specific type of materials, design and production
methods to meet industry demand.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Marketing</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
plan to market our technology and products directly to commercial growers, commercial nurseries, vineyard and farm management firms and
farmland asset managers. We intend to leverage the many existing relationships established during the testing and development of our
products; to convert those collaborative partnerships into customer relationships and capitalize on the word of mouth and referral culture
prevalent in farming communities. We will also be actively marketing through industry trade publications, conferences and Ag events.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Employees</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><br />
We employed nine (9) full-time persons on June 30, 2022. We are not a party to any collective bargaining agreement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
seek to create a workplace environment that fosters personal and business successes by offering training and development, which further
assist our employees in meeting and exceeding our established standards of performance. Additionally, our employees work directly with
our executive management team to address any internal concerns and continuously improve the ways in which we serve our employees and
customers.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Government
Regulation</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are required to comply with all regulations, rules and directives of governmental authorities and agencies applicable to the installation
and operation of any of our products in any jurisdiction, in which we would conduct activities. We do not believe that government regulation
will have a material impact on the way we conduct our business.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Legal
Proceedings</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are not currently a party to any legal proceedings. We may at times be involved in litigation and other legal claims in the ordinary
course of business. When appropriate in our estimation, we may record reserves in our financial statements for pending litigation and
other claims.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Facilities</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
principal executive offices are located at 1801 Century Park East, Suite 520, Los Angeles, California 90067. We sublease this location
on a month-to-month agreement, and our rent expense totaled approximately $60,000 in 2021&#160;&#160;. We believe that our office is
sufficient to meet our current needs and that suitable additional space will be available as and when needed on acceptable terms.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_001"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MANAGEMENT</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth, as of the date of this prospectus, the names and ages of our directors, executive officers and key employees,
as well as the principal offices and positions held by each person:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 30%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Age</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 56%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Positions</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jonathan
    Destler</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">58</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer, Secretary and Chairman of the Board</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jeffrey
    Klausner</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Steve
    Handy</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">54</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Financial Officer, Director of Operations</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nicholas
    Booth</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Technology Officer</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yosepha
    Shahak Ravid</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">73</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Science Officer</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jodd
    Readick</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">65</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Technology Officer, Precision Ag</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jeremy
    Basich</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice
    President of Sales and Distribution</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Directors
and Executive Officers</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Jonathan
Destler, age 58</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Chief
Executive Officer, Secretary and Director</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jonathan
Destler has served as our Chief Executive Officer, Secretary and member of our Board of Directors since our formation on June 20, 2016.
Mr. Destler is a founder has served as President of Touchstone Advisors, Inc., a management consulting and advisory firm, since 2008.
He was also a co-founder of Financial Profiles, Inc., a leading west-coast based financial communications agency, from 2007 to 2010).
He also served as SVP, business development at LHA, a leading financial communications firm from 2004 to 2007). Previously, he was SVP
and Director of Business Development at FRB/Weber Shandwick, a division The Interpublic Group, from 2001 to 2004), one of the world&#8217;s
premier advertising and marketing services companies. Mr. Destler began his career on Wall Street as a private investor and financier
assisting early stage companies with securing financing and formulating their capital and public market strategies. We believe that Mr.
Destler is qualified to serve as a member of our Board based on his broad experience in corporate finance, corporate development, capital
formation and corporate communications.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Jeffrey
Klausner, age 50</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Director</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Klauser has served as a member of our Board of Directors since July 1, 2021. Mr. Klausner has more than 25 years of experience in finance,
accounting, compliance, capital markets and mergers and acquisition. Since 2020 he has been Managing Director at Sherwood Partners, a
leading financial services advisory firm. Prior to joining Sherwood Partners, he was with Capital Brands from 2015 to 2020, most recently
as the Chief Financial Officer. Capital Brands is the manufacturer and distributor of the Magic Bullet and Nutribullet single serve blenders.
From 2013 to 2014 he was Chief Financial Officer for Digital Turbine (formerly Mandalay Digital) (Nasdaq: APPS), a leading independent
mobile growth platform, working with advertisers, publishers&#8217;, carriers, and OEMs. He has also served as Chief Financial Officer
of InfoSonics from 2003 to 2010, a Nasdaq traded cell phone distributor and original design manufacturer for wireless handsets and accessories.
Mr. Klausner graduated from Tulane University&#8217;s A.B. Freeman school of business with a Bachelor of Science in Management, and has
been a Certified Public Accountant in the state of California. Mr. Klausner&#8217;s knowledge of and experience in accounting and finance
led to our conclusion that he should serve as a director.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Steve
Handy, age 54 </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Chief
Financial Officer, Director of Operations</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Handy has served as our Chief Financial Officer and Director of Operations since May 2021. From October 2018 to May 2021, Mr. Handy was
a consultant and founder of GoCompliance, LLC, providing senior financial and executive advisory services to private and publicly traded
companies. Mr. Handy previously served as Chief Financial Officer of Tix Corporation, an entertainment ticketing company, from March
2010 to October 2017, and on an outsourced basis, from November 2017 to May 2021. Prior to 2010, Mr. Handy held positions of increasing
responsibility, including Senior Vice President, Chief Financial Officer and Corporate Secretary of SM&amp;A (2002-2007), a former publicly
traded professional services firm. In addition, Mr. Handy previously held various management roles in high technology manufacturing and
service companies, including working in Europe for Dot Hill Systems (1991-1997), a technology manufacturer. Mr. Handy also served as
Senior Auditor for Deloitte &amp; Touche LLP. Mr. Handy graduated from California State University, San Marcos with a Bachelor of Science
in Management, and is a Certified Public Accountant in California. Mr. Handy also holds the designation of Chartered Global Management
Accountant.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Key
Employees</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nicholas
Booth, age 50</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Chief
Technology Officer</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dr.
Nicholas Booth Ph.D. has served as our Chief Technical Officer since July 2021. Dr. Booth is a control person of DisperSolar LLC, and
from 2012-2021, was the Chief Technology Officer of DisperSolar LLC, a California-based Ag innovations startup company, and he is the
inventor of numerous optical, optomechanical systems currently within the Opti-Harvest portfolio. He currently oversees the design, development
and deployment of Opti-Harvest&#8217;s light collection and delivery systems. From 2008 to 2012, he was Director of Research and Development
at ChromoLogic LLC responsible for product design, testing and development of innovative technologies for NASA, the Army, Navy and Air
Force. Dr. Booth holds a B.Sc. in Physics from the University of Newcastle Upon Tyne (UK), an M.Sc. in Surface Science and Engineering
from Loughborough University (UK), and a Ph.D. in Physics from Warwick University (UK).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Yosepha
Shahak Ravid, age 73</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Chief
Science Officer</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dr.
Yosepha Shahak Ravid has served as our Chief Science Officer since July 2021. Dr. Shahak Ravid is a control person of DisperSolar LLC,
and from 2016-2021, served as the President of DisperSolar LLC, a California-based Ag innovations startup company. Dr. Shahak Ravid has
a prior academic career of over 50 years, specializing in the areas of plant biochemistry, physiology, and horticulture with emphasis
on plant-light-microclimate interactions and their implication on practical agriculture. She received her PhD (thesis on bioenergetics
of photosynthesis) in 1978 from the Weizmann Institute of Science, Rehovot, Israel; followed by a post-doctorate training in Brookhaven
National Lab, NY, USA; an independent Senior-scientist position at the Weizmann Institute of Science, Israel, for 10 years; and a Prof.
level Scientist at the Institute of Plant Sciences, Agriculture Research Organization (ARO), The Volcani Center, Israel, where she established
and headed a photo-biology research group for 25 years. Dr. Shahak Ravid additionally served in leading research management functions
in Israel, including Chair of Citriculture Department at the ARO; Scientific Director of the Northern Ag R&amp;D Center; the ARO Assistant
Director of all Israel Regional Ag R&amp;D Centers; Chair of numerous reviewing committees for the Ministry of Agriculture, and more.
Dr. Shahak Ravid spent several research sabbatical years in Brookhaven Lab, NY, and in UC-Davis, CA. She was an active member of the
International Society of Horticultural Science (ISHS) and was the organizer and convener of several international symposia and workshops
on Plastics in Agriculture, and on Photoselective Netting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Jodd
Readick, age 65</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Chief
Technology Officer, Precision Ag</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jodd
Readick has served as a consultant and advisor to the company in the areas of AI and IoT since its inception in 2016. In July 2021, he
started serving as Chief Technology Officer &#8211; Precision Agriculture. He created the IoT infrastructure for the company and oversees
the development of Opti-Harvest&#8217;s next generation of products. Before joining Opti-Harvest, Mr. Readick was founder or Chief Executive
Officer of four innovative IoT, remote care and telecommunications companies, all built around technology innovations which he pioneered:
User Centric Communications - recognized by Deloitte as the 6th fastest growing high-tech firm in the New York region (1999-2018); Vumber.com
- an innovator in anonymous communications (2005-2010); LymeLog - chronic disease precision medicine tracking web app (2017-2019); and
DMI Communications - pioneer in prepaid calling (1994-2000). Mr. Readick has designed and managed IoT and telecom infrastructure systems
as an entrepreneur and as an executive with DuPont, leading a unit responsible for Rapid Iterative Prototyping, where he was a pioneer
in what&#8217;s become known as Agile Product Development (1984&#8211;1989). Mr. Readick has designed a wide array of IoT, expert systems
and telecom systems that transmit and analyze data to improve treatment of chronic diseases, to improve telephone security, to automate
debt collection and optimize music sampling and music promotion. Mr. Readick&#8217;s entry to IoT was shaped by decades of experience
in wired and then wireless communications, serving as the telecommunications subject matter expert for Arthur Anderson working on due
diligence and M&amp;A projects with companies such as Samsung, MCI and NextWave Wireless (1997&#8211;2003), as advisor to Wells Fargo
(1996) on call center architecture, for NYNEX Mobile on routing systems (1985). Since 2017 Mr. Readick has been an angel investor and
advised and served on the Board of Advisors for small innovative IoT, AI, remote care, and mobile communications companies, advising
them on their infrastructure, user experience and the usability of their AI interfaces, where he is named as an inventor on several their
patents. Mr. Readick holds a BA in Psychology from Stony Brook University with an emphasis in Artificial Intelligence (1979).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Jeremy
Basich, age 50</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Vice
President of Sales and Distribution</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Basich has served as our Vice President of Sales and Distribution since January 2022. From January 2021 to December 2021, Mr. Basich
was the Director of Member Relations with Blue Diamond Growers. In addition to his professional role, he is a consultant with GLG Gerson Lehrman
&amp; Coleman Group. From 2016-2020 Mr. Basich was the VP of Marketing and Operations for JSS Almonds, a privately held almond processor
and marketer in Kern County. From 2011-2015 Mr. Basich was the Chief Facilities Officer for Agri-Care, a professional farm services company
in which he was responsible for all operational compliance, facilities strategy, profit, and management. He began his career with Costco
in 1990. From there he rose into corporate Fresh Produce buying, and summarily was recruited to Wal-Mart corporate offices responsible
for fresh meat purchasing for a billion-dollar category. He has financial training from the Walton Business School and has been on various
farm advisors&#8217; boards over the last decade.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Scientific
Advisory Board</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Scientific Advisory Board provides information and advice to our directors and management on an ongoing basis regarding the scientific
and technical aspects of our various products, services and ventures with commercial growers. The Scientific Advisory Board is composed
of external specialists in agriculture, engineering, and software.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Scientific Advisory Board provides advice and expertise in the following areas:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">identification
    and assessment new technologies and services;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">technology
    and software design; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">environmental
    and agriculture policy.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have entered into consulting agreements with Geoff Anderson, Mike Conaway, Joseph Turchyn, and Dr. Hazel Wetzstein, and have appointed
them as members of our Scientific Advisory Board. We have also identified other suitable candidates and are currently in negotiation
with them regarding the terms of their services. However, there is no assurance that we will be able to identify, attract or retain any
or a sufficient number of qualified professionals.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Term
of Office</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
directors are appointed to hold office until the next annual general meeting of our stockholders or until removed from office in accordance
with our bylaws. Our officers are appointed by our Board of Directors and hold office until removed by the Board, absent an employment
agreement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Director
Independence</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Applicable
Nasdaq rules require a majority of a listed company&#8217;s board of directors to be comprised of independent directors within one (1)
year of listing. In addition, Nasdaq rules require that, subject to specified exceptions, each member of a listed company&#8217;s audit,
compensation and nominating and corporate governance committees be independent, and that audit committee members also satisfy independence
criteria set forth in Rule 10A-3 under the Exchange Act.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
board of directors has undertaken a review of the independence of each director. Based on information provided by each director concerning
his background, employment and affiliations, our board of directors has determined that Mr. Klausner is independent and does not have
a relationship that would interfere with the exercise of his independent judgment in carrying out the responsibilities of a director
and that this director is &#8220;independent&#8221; as that term is defined under the listing standards of Nasdaq. In making such determination,
our board of directors considered the relationship that such non-employee director has with us and all other facts and circumstances
that our board of directors deemed relevant in determining his independence, including the beneficial ownership of our capital stock
by each non-employee director.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Controlled
Company Exception</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">After
the consummation of this offering, Jonathan Destler, our Chief Executive Officer and Chairman of the Board will, in the aggregate, have
more than 50% of the combined voting power for the election of directors. As a result, we will be a &#8220;controlled company&#8221;
within the meaning of the Nasdaq rules and may elect not to comply with certain corporate governance standards, including that: (i) a
majority of our board of directors consists of &#8220;independent directors,&#8221; as defined under the Nasdaq rules; (ii) we have a
nominating and corporate governance committee that is composed entirely of independent directors with a written charter addressing the
committee&#8217;s purpose and responsibilities; and (iii) we have a compensation committee that is composed entirely of independent directors
with a written charter addressing the committee&#8217;s purpose and responsibilities. We intend to rely on certain of the foregoing exemptions
provided to controlled companies under the Nasdaq rules. Therefore, immediately following the consummation of this offering, we do not
intend to have a nominating and corporate governance committee or an entirely independent compensation committee. Accordingly, to the
extent and for so long as we rely on these exemptions, you will not have the same protections afforded to stockholders of companies that
are subject to all of these corporate governance requirements. In the event that we cease to be a &#8220;controlled company&#8221; and
our common stock continues to be listed on Nasdaq, we will be required to comply with these provisions within the applicable transition
periods. We do not intend to rely on the exemption to the requirement that a majority of our directors be &#8220;independent&#8221; as
defined in the Nasdaq rules.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Committees
of Our Board of Directors</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
board of directors has established an audit committee and a compensation committee. The composition and responsibilities of each committee
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.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Although
each committee is directly responsible for evaluating certain enumerated risks and overseeing the management of such risks, the entire
board of directors is generally responsible for and is regularly informed through committee reports about such risks and any corresponding
remediation efforts designed to mitigate such risks. This enables the board of directors and its committees to coordinate the risk oversight
role.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Audit
Committee</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
sole member of our audit committee is Jeffrey Klausner, who also chairs the audit committee. The audit committee&#8217;s main function
is to oversee our accounting and financial reporting processes, internal systems of control, independent registered public accounting
firm relationships and the audits of our financial statements. The committee&#8217;s responsibilities include, among other things:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">approve
    and retain the independent auditors to conduct the annual audit of our financial statements;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a
    review the proposed scope and results of the audit;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Review
    accounting and financial controls with the independent auditors and our financial and accounting staff;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Review
    and approve transactions between us and our directors, officers and affiliates;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recognize
    and prevent prohibited non-audit services; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Establish
    procedures for complaints received by us regarding accounting matters; and oversee internal audit functions, if any.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
audit and non-audit services, other than de minimis non-audit services, to be provided to us by our independent registered public accounting
firm must be approved in advance by our audit committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
audit committee operates under a written charter that will satisfy the applicable standards of the SEC and Nasdaq and which will be available
on our website prior to the completion of this offering at www.opti-harvest.com.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Compensation
Committee</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
sole member of our compensation committee is Jeffrey Klausner, who chairs the compensation committee. The primary purpose of our compensation
committee is to discharge the responsibilities of our board of directors also in overseeing our compensation policies, plans and programs
and to review and determine the compensation to be paid to our executive officers, directors and other senior management, as appropriate.
Specific responsibilities of our compensation committee include, among other things:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">review
    and determine the compensation arrangements for management;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">establish
    and review general compensation policies with the objective to attract and retain superior talent, to reward individual performance
    and to achieve our financial goals;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">administer
    our stock incentive and purchase plans;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">oversee
    the evaluation of the Board and management; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">review
    the independence of any compensation advisers engaged by the compensation committee.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Klausner is a non-employee director, as defined in Rule 16b-3 promulgated under the Exchange Act and an outside director, as defined
pursuant to Section 162(m) of the Internal Revenue Code of 1986, as amended, or the &#8220;Code.&#8221;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
respect to director compensation, our compensation committee is responsible for reviewing the compensation paid to members of the board
and recommending modifications to board compensation that the compensation committee determines are appropriate and advisable to the
board for its approval from time to time. In this regard, the compensation committee may request that management report to the compensation
committee periodically on the status of the board&#8217;s compensation in relation to other similarly situated companies. The compensation
committee operates under a written charter that will satisfy the applicable standards of the SEC and Nasdaq and which will be available
on our website prior to the completion of this offering at www.opti-harvest.com.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Nominating
and Corporate Governance Committee</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since
we do not have a nominating and corporate governance committee comprised of independent directors, the functions that would have been
performed by such committee are performed by our directors.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Compensation
Committee Interlocks and Insider Participation</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2019 and 2020, we did not maintain a compensation committee. None of the members of our compensation committee is, or has at any time
during the prior three years been, one of our officers or employees. None of our executive officers currently serves, or in the past
fiscal year has served, as a member of the board of directors or compensation committee of any entity that has one or more executive
officers serving on our board of directors or compensation committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Corporate
Governance</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are committed to having sound corporate governance principles, which are essential to running our business efficiently and maintaining
our integrity in the marketplace. We understand that corporate governance practices change and evolve over time, and we seek to adopt
and use practices that we believe will be of value to our stockholders and will positively aid in the governance our company. To that
end, we regularly review our corporate governance policies and practices and compare them to the practices of other peer institutions
and public companies. We will continue to monitor emerging developments in corporate governance and enhance our policies and procedures
when required or when our board determines that it would benefit our Company and our stockholders.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Code
of Conduct and Ethics</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have adopted a written code of business conduct and ethics that applies to our directors, officers and employees, including our principal
executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions. In
connection with the effectiveness of the registration statement of which this prospectus forms a part, our code of business conduct and
ethics will be posted on our principal corporate website at www.opti-harvest.com. In addition, we intend to post on our website all disclosures
that are required by law or the Nasdaq listing standards concerning any amendments to, or waivers from, any provision of the code.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Family
Relationships</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
are no family relationships between any of our directors or executive officers and any other directors or executive officers.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Indemnification
and Insurance</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
do not maintain directors&#8217; and officers&#8217; liability insurance. Our certificate of incorporation and bylaws include provisions
limiting the liability of directors and officers and indemnifying them under certain circumstances. We have entered into indemnification
agreements with all of our directors to provide our directors and certain of their affiliated parties with additional indemnification
and related rights. See &#8220;Description of Capital Stock&#8201;&#8212;&#8201;Limitation on Liability of Directors and Indemnification.&#8221;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Board
Leadership Structure</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Currently,
Jonathan Destler, is our principal executive officer and chairman of the board.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stockholder
Communications with the Board of Directors</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have not implemented a formal policy or procedure by which our stockholders can communicate directly with our board of directors. Nevertheless,
every effort has been made to ensure that the views of stockholders are heard by the board of directors or individual directors, as applicable,
and that appropriate responses are provided to stockholders in a timely manner. We believe that we are responsive to stockholder communications,
and therefore have not considered it necessary to adopt a formal process for stockholder communications with our Board. During the upcoming
year, our Board will continue to monitor whether it would be appropriate to adopt such a process.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Director
Compensation</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
did not pay any compensation to our directors for serving on our board of directors during the fiscal year ended December 31, 2020. The
following table summarizes the compensation awarded to, earned by, or paid to our non-employee director for the year ended December 31,
2021:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fees
    Earned or <br /> Paid in Cash</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock
    Awards (1)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Option<br />
    Awards</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-Equity<br />
    Incentive Plan<br /> Compensation</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
    Other<br /> Compensation</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: bold 10pt Times New Roman, Times, Serif; width: 40%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jeffrey
    Klausner (2)</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">45,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">59,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    amount represents 7,500 shares of our common stock at the fair value of stock awards granted during the year. The award is calculated
    on the date of grant in accordance with Financial Accounting Standards.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
    July 1, 2021, Mr. Klausner was appointed to our Board of Directors and our audit committee chair.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective
July 1, 2021, we pay each non-executive director $5,000 per calendar quarter of service (with an additional $2,000 payment per quarter
made to our audit committee chair, if also a director), and, at the election of each director, an equity grant of common stock or an
option to purchase common stock, or any combination thereof. If a director elects to receive an option, the exercise price of the option
shall be equal to the weighted average closing price of the last 15 trading days of the applicable calendar quarter. If our shares of
common stock are not trading on a market, the exercise price shall be equal to the same price of our securities in any offering being
made, if any, on the day at the end of the applicable calendar quarter, and if there is no such offering, the last offering price of
our securities in its last offering. Any option granted shall have a term of five-years and vest on the date they are granted.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_002"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>EXECUTIVE
COMPENSATION</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary
Compensation Table - Years Ended December 31, 2021 and 2020</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth information concerning all cash and non-cash compensation awarded to, earned by or paid to the named persons
for services rendered in all capacities during the noted periods. No other executive officers received total annual salary and bonus
compensation in excess of $100,000.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name
    and Principal Position</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year</b></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Salary</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bonus</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Option
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: bold 10pt Times New Roman, Times, Serif; width: 37%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jonathan
    Destler</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 7%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2021</b></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">204,167</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">30,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,797,473</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">31,675</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,063,315</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer (2)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2020</b></span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">114,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">28,341</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">142,341</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Don
    Danks</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2021</b></span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">72,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">82,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Former
    President (3)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2020</b></span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">72,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">72,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Steve
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,271</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">608,112</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Financial Officer and Director of Operations (4)(5)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)
The amounts represent the fair value for 4,000,000 stock options granted to Mr. Destler, and 300,000 stock options granted to Mr. Handy
during the year. The award is calculated on the date of grant in accordance with Financial Accounting Standards.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)
The amounts listed under the column entitled &#8220;All Other Compensation&#8221; in the Summary Compensation Table for the year ended
December 31, 2021, include payments of $16,897 for health insurance premiums on behalf of the named executive officer&#8217;s dependents,
matching contributions of $5,825 to our 401(k) Plan, and approximately $8,953 of automobile related expenses. For the year ended December
31, 2020, includes payments of $15,968 for health insurance premiums on behalf of the named executive officer&#8217;s dependents, matching
contributions of $3,420 to our 401(k) Plan, and approximately $8,953 of automobile related expenses.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)
On October 8, 2021, Mr. Danks resigned as our President and as a member of our Board of Directors. Mr. Danks did not resign due to any
disagreement with us on any matter relating to our operations, policies, or practices. Mr. Danks remains employed by us, but he does
not serve in the role of a director or officer.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)
Effective May 17, 2021, Mr. Handy was hired as our Chief Financial Officer and Director of Operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)
The amounts listed under the column entitled &#8220;All Other Compensation&#8221; in the Summary Compensation Table for the year ended
December 31, 2021, include matching contributions of $3,271 to our 401(k) Plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Outstanding
Equity Awards at December 31, 2021</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth information regarding unexercised options and equity incentive plan awards for each Named Executive Officer
outstanding as of December 31, 2021:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Don
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Steve
                                            Handy</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Chief
                                            Financial Officer) (B)</span></p></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">175,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5/17/2031</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(A)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per
    Mr. Destler&#8217;s employment agreement, we granted to Mr. Destler an option to purchase 4,000,000 shares of common stock under
    the Company&#8217;s 2016 Equity Incentive Plan, at an exercise price of $2.00 per share, for a term to expire on April 1, 2031, and
    where 83,333 shares underlying the option vest monthly, beginning on May 1, 2021.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(B)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per
    Mr. Handy&#8217;s employment agreement, we granted to Mr. Handy an option to purchase 300,000 shares of common stock under our 2016
    Equity Incentive Plan, at an exercise price of $2.00 per share, for a term to expire on May 17, 2031, and where 16,666 Option Shares
    vest monthly over a twelve (12) month period beginning on May 17, 2021.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2016
Equity Incentive Plan</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
June 20, 2016, we adopted our 2016 Equity Incentive Plan (the &#8220;2016 Plan&#8221;) allowing the issuance of 1,000,000 shares. On
July 13, 2021, our Board of Directors increased the number of common shares authorized to be issued under the 2016 Plan to 7,000,000
shares. The 2016 Plan is for officers, employees, non-employee members of the Board of Directors, and consultants of the Company. The
2016 Plan authorizes the granting of not more than 7,000,000 restricted shares, stock appreciation rights (&#8220;SAR&#8217;s&#8221;),
and incentive and non-qualified stock options to purchase shares of the Company&#8217;s common stock. The 2016 Plan provided that stock
options or SAR&#8217;s granted can be exercisable immediately as of the effective date of the applicable agreement, or in accordance
with a schedule or performance criteria as may be set in the applicable agreement. The exercise price for non-qualified stock options
or SAR&#8217;s would be the amount specified in the agreement, but shall not be less than the fair value of the Company&#8217;s common
stock at the date of the grant. The maximum term of options and SARs granted under the 2016 Plan is ten years. As of December 31, 2020,
no restricted shares, SAR&#8217;s, and incentive and non-qualified stock options to purchase shares of the Company&#8217;s common stock
options had been issued. The 2016 Plan has expired.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, we granted a total of 4,300,000 stock options to our executive officers related to their employment
agreements, as discussed below.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2022
Stock Incentive Plan</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 17, 2022, the Company&#8217;s Board of Directors approved our 2022 Stock Incentive Plan (the &#8220;2022 Plan&#8221;). Pursuant
to the terms of the 2022 Plan, the maximum number of shares of common stock available for the grant of awards under the 2022 Plan shall
not exceed 15,000,000. The Plan is for officers, employees, non-employee members of the Board of Directors, and consultants of the Company.
The Plan provides for the grant of options, restricted stock, restricted stock units, SAR&#8217;s, performance awards, other stock-based
awards and dividend equivalents, or any combination of the foregoing.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Employment
Agreements</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Jonathon
Destler, Chief Executive Officer</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
and Jonathan Destler entered into an Employment Agreement (the &#8220;Destler Agreement&#8221;) dated December 17, 2018, and as amended
on March 31, 2021, which provides for an annual base salary of $240,000 for per annum. The salary will increase by 7% on November 1 of
each year, based on the salary due in the year prior to each such 7% increase.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-indent: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Destler Agreement also grants to Mr. Destler an option, dated March 31, 2021, to purchase 4,000,000 shares of common stock under the
Company&#8217;s 2016 Equity Incentive Plan, at an exercise price of $2.00 per share, for a term to expire on April 1, 2031, and where
83,333 shares underlying the option vest monthly, beginning on May 1, 2021.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Destler shall be granted 1,000,000 shares of our common stock upon our listing of common stock on any market of the Nasdaq or New York
Stock Exchange. Mr. Destler may, in his sole discretion, be granted any part of or all such 1,000,000 shares in the form of a warrant
or option, exercisable at $0.001 per share, for the purchase of 1,000,000 shares of our common stock, for a term of five (5) years. Mr.
Destler&#8217;s grant of and right to such 1,000,000 shares is conditioned upon and subject to Mr. Destler being an employee, officer
or director of the Company at the time that the Company&#8217;s shares of common stock are listed on the Nasdaq or New York Stock Exchange.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Destler Agreement also provides for cash bonus(es), payable to Mr. Destler, equal to 10% of first $1,000,000 of our gross profits, 8%
of the second $1,000,000 of our gross profits, 6% of the third $1,000,000 of our gross profits, 4% of the fourth $1,000,000 of our gross
profits, and 2% of all of our gross profits in excess of $4,000,000. In lieu of any cash payment due to Mr. Destler as a bonus, Mr. Destler,
may in his sole discretion, elect to receive shares of our common stock of the Company, valued at $0.75 per share.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Destler Agreement also provides for a cash fee, payable to Mr. Destler, (i) equal to 3% (the &#8220;Transaction Fee&#8221;) of the aggregate
value of any sale of all or a substantial amount of the assets or the capital stock of us, any sale, merger, consolidation or other event
which results in the transfer of control of or a material interest in us or of all or a substantial amount of the assets of us, provided,
however, in no event shall the Transaction Fee be less than $750,000, and (ii) equal to 6% (the &#8220;Licensing Transaction Fee&#8221;)
of the aggregate value of any license, partnership or co-promotional agreement, joint venture, alliance, reselling agreement, development
agreement and any other such transaction in which we transfer any rights to our technology or intellectual property where the aggregate
licensing value is greater than $5,000,000, provided, however, that in no event shall the License Transaction Fee be less than $750,000.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Destler Agreement also obligates us to pay for Mr. Destler&#8217;s costs related to his reasonable monthly cell phone and other mobile
Internet costs, home office Internet costs, car and commuting costs not to exceed $1,000 per month, and club membership costs, all of
which are payable not later than 10 days after the end of each month. Mr. Destler is also entitled to participate in our employee benefit
programs and provide for other customary benefits. Finally, the Destler Agreement prohibits Mr. Destler from engaging in certain activities
which compete with us, seek to recruit its employees, or disclose any of its trade secrets or otherwise confidential information.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Destler is entitled to receive severance benefits upon termination of employment with us. Mr. Destler&#8217;s entitlement to such severance
benefits shall be conditioned upon Mr. Destler&#8217;s execution and delivery to us of (i) a general release of all claims, (ii) a resignation
from all of Mr. Destler&#8217;s positions with us and (iii) an agreement not to directly or indirectly be employed or involved with any
business developing or exploiting any products or services that are competitive with products or services (a) being commercially developed
or exploited by us during Mr. Destler&#8217;s employment and (b) on which Mr. Destler worked or about which Mr. Destler learned proprietary
information or trade secrets of us during Mr. Destler&#8217;s employment with us.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
Mr. Destler voluntarily elects to terminate his employment with us other than by Mr. Destler&#8217;s resignation for good reason or if
we terminate Mr. Destler&#8217;s employment for cause, or Mr. Destler dies or becomes incapacitated or otherwise disabled in such a manner
that, in the sole determination of our board of directors, Mr. Destler cannot reasonably perform the duties to us, then Mr. Destler shall
not be entitled to receive payment of any severance benefits. Mr. Destler will receive payment for all salary and unpaid vacation accrued
as of the date of Mr. Destler&#8217;s termination of employment and Mr. Destler&#8217;s benefits will be continued solely to the extent
of our then existing benefit plans and policies in accordance with such plans and policies in effect on the date of termination.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
Mr. Destler&#8217;s employment is terminated by us without cause or by Mr. Destler&#8217;s resignation for good reason prior to or more
than 12 months after, a change of control, Mr. Destler will receive payment for all salary and unpaid vacation accrued as of the date
of Mr. Destler&#8217;s termination of employment, and, in addition, Mr. Destler will be entitled to receive the following severance benefits:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
continued payment of his base salary for a period of 12 months following the date of termination, in accordance with our normal payroll
practices;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
reimbursement of his premium cost for continuation coverage for the lesser of the first 12 months of continuation coverage or that number
of months until Mr. Destler becomes eligible for reasonably comparable benefits under any future employer&#8217;s health insurance plan,
provided Mr. Destler makes a timely election for such continuation coverage and presents reasonably requested documentation of payment
of such premiums;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)
payment of 100% of Mr. Destler&#8217;s current year discretionary cash bonus;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)
accelerated vesting as to 50% of Mr. Destler&#8217;s then unvested option shares; and</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)
reimbursement for up to $100,000 of expenses incurred in obtaining new employment, provided Mr. Destler submits evidence that is satisfactory
to us that the amount involved was expended and related to obtaining new employment.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
Mr. Destler&#8217;s employment is terminated by us without cause or by Mr. Destler&#8217;s resignation for good reason in either case
within 12 months following a change of control, Mr. Destler will receive payment for all salary and unpaid vacation accrued as of the
date of Mr. Destler&#8217;s termination of employment, and, in addition, Mr. Destler will be entitled to receive the following severance
benefits:</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
continued payment of his base salary for a period of 18 months following the date of termination, in accordance with our normal payroll
practices;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
reimbursement of his premium cost for continuation coverage for the lesser of the first 18 months of continuation coverage or that number
of months until Mr. Destler becomes eligible for reasonably comparable benefits under any future employer&#8217;s health insurance plan,
provided Mr. Destler makes a timely election for such continuation coverage and presents reasonably requested documentation of payment
of such premiums;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)
payment of 150% of Mr. Destler&#8217;s current year discretionary cash bonus regardless of our or Mr. Destler&#8217;s achievement of
the goals referred to in his employment agreement;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)
accelerated vesting of 100% of all the unvested stock options; and</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)
reimbursement for up to $50,000 of expenses incurred in obtaining new employment, provided Mr. Destler submits evidence that is satisfactory
to us that the amount involved was expended and related to obtaining new employment.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Steve
Handy, Chief Financial Officer, Director of Operations</i></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective
May 9, 2022, we entered into an employment agreement with Steve Handy to serve as its Chief Financial Officer and Director of Operations
(the &#8220;CFO Agreement&#8221;). The term of employment pursuant to the CFO Agreement is twenty-four months. Mr. Handy&#8217;s base
salary is $220,000 per annum during the first year of the term and $231,000 during the second year of the term, with 5% annual increases
and bonuses at the discretion of the Board of Directors. The CFO Agreement granted Mr. Handy an option to purchase 100,000 shares of
common stock (the &#8220;Option Shares&#8221;) under our 2022 Stock Incentive Plan, at an exercise price of $2.00 per share, for
a term to expire on May 9, 2027, and where 4,167 Option Shares vest monthly over a twenty-four (24) month period beginning on May 9,
2021. Mr. Handy is entitled to receive a severance payment of $100,000 if terminated by us without cause. Mr. Handy is entitled to participate
in our employee benefit programs and provide for other customary benefits and is prohibited from engaging in certain activities which
compete with us, seek to recruit its employees, or disclose any of its trade secrets or otherwise confidential information. The CFO Agreement
replaced our prior employment agreement with Mr. Handy. The prior agreement provided for a base salary of $200,000 per annum and granted
Mr. Handy an option to purchase 300,000 shares of common stock (the &#8220;Option Shares&#8221;) under our 2016 Equity Incentive Plan,
at an exercise price of $2.00 per share, for a term to expire on May 17, 2031, and where 16,666 Option Shares vest monthly over a twelve
(12) month period beginning on May 17, 2021.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><i>Jodd Readick, Chief Technology Officer</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective
July 1, 2021 we entered into an employment agreement with Jodd Readick to serve as our Chief Technology Officer &#8211; Precision Agriculture
(the &#8220;CTO Agreement&#8221;). The term of the CTO Agreement is for 12 months. Mr. Readick&#8217;s base salary is $150,000 per annum.
Mr. Readick is entitled to participate in our employee benefit programs and provide for other customary benefits and is prohibited from
engaging in certain activities which compete with us, seek to recruit its employees, or disclose any of its trade secrets or otherwise
confidential information.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_004"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CERTAIN
RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Director
and Officer Indemnification and Insurance</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have entered into indemnification agreements with each of our directors and executive officers. These agreements, among other things,
require us or will require us to indemnify each director (and in certain cases their related venture capital funds) and executive officer
to the fullest extent permitted by Delaware law, including indemnification of expenses such as attorneys&#8217; fees, judgments, fines
and settlement amounts incurred by the director or executive officer in any action or proceeding, including any action or proceeding
by or in right of us, arising out of the person&#8217;s services as a director or executive officer.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Certificate of Incorporation and our bylaws provide that we will indemnify each of our directors and officers to the fullest extent permitted
by the DGCL. We also intend to purchase a policy of directors&#8217; and officers&#8217; liability insurance that will insure our directors
and officers against the cost of defense, settlement or payment of a judgment under certain circumstances.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Agreements
with DisperSolar LLC and Mr. Booth</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Both
Yosepha Shahak Ravid and Nicholas Booth are members of DisperSolar LLC, a California limited liability company
(&#8220;DisperSolar&#8221;)<span style="text-decoration: line-through"> </span>and are named inventors of the acquired patents from Dispersolar, discussed below.
Effective July 1, 2021, Ms. Shahak Ravid, our Chief Science Officer, and Mr. Booth, our Chief Technology Officer, were employed by
us. As of the date of this prospectus, DisperSolar has received payments of $600,000, and Mr. Booth has received no
payments.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Patent
Purchase Agreement with DisperSolar LLC</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 7, 2017, we and DisperSolar entered into a Patent Purchase Agreement (the &#8220;Agreement&#8221;) pursuant to which we acquired
certain patents of DisperSolar. DisperSolar developed the patents for harvesting, transmission, spectral modification and delivery of
sunlight to shaded areas of plants.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
agreed to pay the following for the acquisition of DisperSolar&#8217;s intellectual property:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial
    Payment: $150,000 deposited into the account of DisperSolar within 10 days of the effective date. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial
    Milestone Payments: Additional payments in the aggregate combined amount up to $350,000 upon reaching defined milestones, of which
    $50,000 was paid in 2017, $200,000 in 2018, and $100,000 in 2021. </span></td></tr>

<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Earnout
    Payments: $800,000 paid on the on-going basis at a rate of 50% of gross margin and/or license revenue from the date of the first
    commercial sale of a covered product or the first receipt by us of license revenue, until the aggregate combined gross margin and
    license revenue reach $1,600,000. </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
December 6, 2018, we and DisperSolar amended the Agreement by increasing the milestone payments from $350,000 to $450,000.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of September 30, 2021, we had an $800,000 earnout obligation payable on the on-going basis at a rate of 50% of gross margin and/or license
revenue from the date of the first commercial sale of a covered product or the first receipt by purchaser of license revenue, until the
aggregate combined gross margin and license revenue reach $1.6 million.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are obligated to pay to DisperSolar royalties, as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following
    the recognition by us of the first $1,600,000 in aggregate combined gross margin and license revenue, and until we pay to DisperSolar
    an aggregate amount in royalties of $30,000,000, we shall pay to DisperSolar royalties on sales of covered products at a rate of
    8% of gross margin. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Once
    we have paid to DisperSolar an aggregate amount in royalties of $30,000,000, we shall pay to DisperSolar royalties on sales of covered
    products at a rate of 4.75% of gross margin until the earlier of (x) such time as covered products are not covered by any claims
    of any assigned patent, and (y) the date of the consummation of a &#8220;Strategic Transaction.&#8221; </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8220;Strategic
Transaction&#8221; means a transaction or a series of related transactions that results in an acquisition of the Company by a third party,
including by way of merger, purchase of capital stock or purchase of assets or change of control or otherwise.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the six months ended June 30, 2022, and the years ended December 31, 2020 and 2019, and as of the date of this prospectus, the Company
recorded no earnout or royalty payment obligations as no gross margin was realized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Strategic
Transaction</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will pay to DisperSolar 7.6% of all license consideration received by us until the date of the consummation of a strategic transaction.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Strategic
Transaction Consideration. &#8220;Strategic Transaction Consideration&#8221; means any cash consideration and the fair market value of
any non-cash consideration paid to us by any acquirer as consideration for the Strategic Transaction, less the costs and expenses incurred
by us for the purpose of consummating the Strategic Transaction. We will pay to DisperSolar a percentage of all license consideration
received us as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.8%
    of the first $50,000,000 of the Strategic Transaction Consideration;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.7%
    of the next $100,000,000 of the Strategic Transaction Consideration (i.e., over $50,000,000 and up to $150,000,000);</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.6%
    of Strategic Transaction Consideration over $150,000,000.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Inventor
Royalty</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July 5, 2019, we and Mr. Booth entered into a Royalty Agreement. Mr. Booth is a member of Dispersolar, LLC and a named inventor of the
acquired patents from Dispersolar, LLC discussed above. Effective July 1, 2021, Mr. Booth was employed by us as our Chief Technology
Officer.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will pay Mr. Booth a percentage of all license consideration received by us as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
Once we have paid to DisperSolar an aggregate amount in royalties of $30,000,000 under the Agreement, we will pay to Booth a percentage
of all royalties on sales of covered products at a rate of 0.25% of gross margin until the earlier of (x) such time as covered products
are not covered by any claims of any assigned patent, and (y) the date of the consummation of a Strategic Transaction.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
We will pay to Booth a percentage of all license consideration received us on the same terms as payable by us to DisperSolar under the
Agreement, except that the percentages of license consideration due to Booth shall be as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.4%
    of all license consideration received by us until the date of consummation of a Strategic Transaction;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.2%
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.3%
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.4%
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the six months ended June 30, 2022, and the years ended December 31, 2020 and 2019, and as of the date of this prospectus, no amounts
were due for earnouts or royalties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_005"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PRINCIPAL
STOCKHOLDERS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table lists, as of August 26, 2022, the number of shares of our common stock that are beneficially owned by:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 0.5in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">each
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  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">each
    named executive officer and director of our Company; and </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">all
    executive officers and directors as a group. </span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Information
relating to beneficial ownership of common stock by our principal stockholders and management is based upon information furnished by
each person using &#8220;beneficial ownership&#8221; concepts under the rules of the Securities and Exchange Commission. Under these
rules, a person is deemed to be a beneficial owner of a security if that person has or shares voting power, which includes the power
to vote or direct the voting of the security, or investment power, which includes the power to dispose of or direct the disposition of
the security. The person is also deemed to be a beneficial owner of any security, of which that person has a right to acquire beneficial
ownership within 60 days. Under the Securities and Exchange Commission rules, more than one person may be deemed to be a beneficial owner
of the same securities, and a person may be deemed to be a beneficial owner of securities as to which he or she may not have any pecuniary
beneficial interest. Except as noted below, each person has sole voting and investment power.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
percentages of common stock prior to the offering are calculated based on shares of our common stock issued and outstanding as of the
date of this prospectus. Percentages of common stock after the offering are calculated based on 34,263,067 shares of common stock
issued and outstanding after this offering (assuming no exercise of the over-allotment option) and based on an assumed public offering
price of $ per unit, which is the midpoint of the estimated offering range set forth on the cover page of this prospectus.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have outstanding warrants, options, and one (1) share of Series A preferred stock, convertible into shares of our common stock.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unless
otherwise indicated, we believe that each person named in the table below has sole voting and investment power with respect to all shares
of common stock beneficially owned by them.</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Touchstone
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*
Less than 1%.______________</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    Century Park East, Suite 520, Los Angeles, California 90067.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    5,335,000 shares held indirectly by Touchstone Holding Company LLC, 2,500,000 shares held by Destler Family Trust, 8,750 held
    by Vertical Leap LLC, and 1,333,333 shares of common stock that Mr. Destler has the right to acquire within 60 days of August 22,
    2022 through the exercise of options. Mr. Destler has voting and dispositive control over shares held by Touchstone Holding Company
    LLC, Destler Family Trust, and Vertical Leap Advisors LLC.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares
    held indirectly by Danks Family Trust, Danks Family Foundation, and Vertical Leap Advisors LLC. On October 8, 2021, Mr. Danks
    resigned as our President and as a member of our Board of Directors. Mr. Danks did not resign due to any disagreement with us on
    any matter relating to our operations, policies, or practices. Mr. Danks remains employed by us, but he does not serve in the role
    of a director or officer. Mr. Danks has voting and dispositive control over shares held by Danks Family Trust, Danks Family Foundation,
    and Vertical Leap Advisors LLC.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    312,500 shares of common stock that Mr. Handy has the right to acquire within 60 days of August 22, 2022 through the exercise
    of options. </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    540,000 shares held indirectly by Allan P and Marth S Brennan Revocable Trust dtd 12/21/1996, 40,000 shares held indirectly by Allan
    Brennan and Martha S Brennan Trustee FBO the Allan Patrick Brennan and Martha Stella Brennan Trust, and 1,040,000 shares of common
    stock held directly by Allan P Brennan, and 149,667 shares of common stock held directly by Allan Brennan.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    have one share of Series A preferred stock outstanding, held by our co-founder, director and Chief Executive Officer, Jonathan Destler.
    The Series A preferred stock entitles its holder to a number of votes that is equal to 110% of the issued and outstanding shares
    of our common stock. Holders of our common stock and Series A preferred stock will generally vote together as a single class, unless
    otherwise required by law or our certificate of incorporation.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_006"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DESCRIPTION
OF CAPITAL STOCK</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following description summarizes the material terms of our capital stock. Because it is only a summary, it does not contain all the information
that may be important to you. For a complete description of our capital stock, you should refer to our Certificate of Incorporation,
as amended, and our bylaws and to the provisions of applicable Delaware law.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following description summarizes the material terms of our capital stock. Because it is only a summary, it does not contain all the information
that may be important to you. For a complete description of our capital stock, you should refer to our Certificate of Incorporation,
as amended, and our Bylaws and to the provisions of applicable Delaware law.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
authorized capital stock consists of 100,000,000 shares of common stock, $0.0001 par value, and 1,000,000 shares of preferred stock,
1 share of which is designated as Series A preferred stock, $0.0001 par value. The rights, preferences and privileges of preferred stock
may be designated from time to time by our board of directors. As of the date of this prospectus, there were 32,263,068 shares
of our common stock issued and outstanding held of record by approximately 401 stockholders and 1 share of Series A preferred stock
issued and outstanding held of record by one person, Jonathan Destler, our Chief Executive Officer and director.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Undesignated
Preferred Stock</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the terms of our Certificate of Incorporation, our board of directors is authorized to issue shares of our undesignated preferred stock
in one or more series without stockholder approval. Our board of directors has the discretion to determine the rights, preferences, privileges
and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, of
each series of preferred stock.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
purpose of authorizing our board of directors to issue preferred stock and determine its rights and preferences is to eliminate delays
associated with a stockholder vote on specific issuances. The issuance of preferred stock, while providing flexibility in connection
with possible future acquisitions and other corporate purposes, will affect, and may adversely affect, the rights of holders of common
stock. It is not possible to state the actual effect of the issuance of any shares of preferred stock on the rights of holders of common
stock until our board of directors determines the specific rights attached to that preferred stock. The effects of issuing preferred
stock could include one or more of the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">restricting
    dividends on the common stock;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">diluting
    the voting power of the common stock;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">impairing
    the liquidation rights of the common stock; or</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">delaying
    or preventing changes in control or management of our company.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Once
our board of directors approves the rights and preferences for a series of preferred stock, we will file a Certificate of Designation
for such series of preferred stock with the Delaware Secretary of State formally establishing such rights and preferences.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Series
A Preferred Stock; Common Stock</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Voting</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except
as set forth below, each holder of Series A preferred stock has the same rights as holders of common stock and shall be entitled to notice
of any stockholders&#8217; meeting. They shall also be entitled to vote with the holders of common stock, and not as a separate class,
except as may otherwise be required by law. Except as set forth below, each stockholder shall be entitled to one (1) vote for each share
of stock outstanding. Except as set forth below or otherwise provided by the law of the State of Delaware, any corporate action to be
taken shall be authorized by a majority of the votes cast by the stockholders. There are no cumulative rights to voting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
share of Series A preferred stock is entitled to the number of votes equal to 110% of the number of votes of the common stock issued
and outstanding.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally,
for as long as any shares of Series A preferred stock are outstanding, the holders of Series A preferred stock shall be entitled to elect
one director, or the Series A Director.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Protective
Provisions</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
as long as any shares of Series A preferred stock are outstanding, we must obtain the approval of at least a majority of the holders
of the outstanding shares of preferred stock, voting as a separate class, to:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 33.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amend
    our articles of incorporation or, unless approved by our board of directors, including by the Series A Director, amend our bylaws;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Change
    or modify the rights, preferences or other terms of the Series A preferred stock, or increase or decrease the number of authorized
    shares of Series A preferred stock;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassify
    or recapitalize any outstanding equity securities, or, unless approved by our board of directors, including by the Series A Director,
    authorize or issue, or undertake an obligation to authorize or issue, any equity securities or any debt securities convertible into
    or exercisable for any equity securities (other than the issuance of stock-options or securities under any employee option or benefit
    plan);</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorize
    or effect any transaction constituting a Deemed Liquidation (as defined in this subparagraph), or any other merger or consolidation
    of the Company, where a Deemed Liquidation shall mean: (1) the closing of the sale, transfer or other disposition of all or substantially
    all of the Company&#8217;s assets (including an irrevocable or exclusive license with respect to all or substantially all of the
    Company&#8217;s intellectual property); (2) the consummation of a merger, share exchange or consolidation with or into any other
    corporation, limited liability company or other entity (except one in which the holders of capital stock of the Company as constituted
    immediately prior to such merger, share exchange or consolidation continue to hold at least 50% of the voting power of the capital
    stock of the Company or the surviving or acquiring entity (or its parent entity)), (3) authorizing or effecting any transaction liquidation,
    dissolution or winding up of the Company, either voluntary or involuntary; <i>provided, however</i>, that none of the following shall
    be considered a Deemed Liquidation: (A) a merger effected exclusively for the purpose of changing the domicile of the Company, or
    (B) a transaction or other event deemed to be exempt from the definition of a Deemed Liquidation by the holders of at least a majority
    of the then outstanding Series A preferred stock.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increase
    or decrease the size of our board of directors as provided in our bylaws or remove the Series A Director (unless approved by our
    board of directors, including the Series A Director);</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Declare
    or pay any dividends or make any other distribution with respect to any class or series of capital stock (unless approved by our
    board of directors, including the Series A Director);</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Redeem,
    repurchase or otherwise acquire (or pay into or set aside for a sinking fund for such purpose) any outstanding shares of capital
    stock (other than the repurchase of shares of common stock from employees, consultants or other service providers pursuant to agreements
    approved by our board of directors under which the Company has the option to repurchase such shares at no greater than original cost
    upon the occurrence of certain events, such as the termination of employment) (unless approved by our board of directors, including
    the Series A Director);</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Create
    or amend any stock option plan of the Company, if any (other than amendments that do not require approval of the stockholders under
    the terms of the plan or applicable law) or approve any new equity incentive plan;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Replace
    the President and/or Chief Executive Officer of the Company (unless approved by our board of directors, including the Series A Director);</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transfer
    assets to any subsidiary or other affiliated entity (unless approved by our board of directors, including the Series A Director);</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issue,
    or cause any subsidiary of the Company to issue, any indebtedness or debt security, other than trade accounts payable and/or letters
    of credit, performance bonds or other similar credit support incurred in the ordinary course of business, or amend, renew, increase
    or otherwise alter in any material respect the terms of any indebtedness previously approved or required to be approved by the holders
    of the Series A preferred stock (unless approved by our board of directors, including the Series A Director);</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Modify
    or change the nature of the Company&#8217;s business;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acquire,
    or cause a subsidiary of the Company to acquire, in any transaction or series of related transactions, the stock or any material
    assets of another person, or enter into any joint venture with any other person (unless approved by our board of directors, including
    the Series A Director); or</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sell,
    transfer, license, lease or otherwise dispose of, in any transaction or series of related transactions, any material assets of the
    Company or any subsidiary outside the ordinary course of business (unless approved by our board of directors, including the Series
    A Director).</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Dividends</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject
to the rights of the preferred stockholders set forth in &#8220;-Protective Provisions&#8221;, our board of directors shall have full
power and discretion, to determine out of legally available funds what, if any, dividends or distributions shall be declared and paid.
Dividends may be paid in cash, in property, or in shares of common stock. Shares of common stock and Series A preferred stock are treated
equally and ratably, on a per share basis, with respect to any dividend or distribution from us. If a dividend is paid in the form of
shares of common stock or rights to acquire common stock, the holders of common stock and Series A preferred stock shall both receive
common stock or rights to acquire common stock. No dividends shall be declared or payable in the form of Series A preferred stock.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Liquidation
Rights</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
there is a liquidation, dissolution or winding up of the Company, holders of our common stock and Series A preferred stock would be entitled
to share in our assets remaining after the payment of liabilities equally and ratably, on a per share basis.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Conversion</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Voluntary
Conversion: Each share of Series A preferred stock shall be convertible into one fully paid and nonassessable share of common stock at
the option of the holder. Additionally, each share of Series A Preferred Stock shall automatically convert into one share of common stock
upon the first to occur of (a) a transfer of such share of Series A Preferred Stock other than to Mr. Destler, (b) the death or incapacity
of Mr. Destler, or (c) or the resignation of Mr. Destler as an officer of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Other
Provisions</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holders
of our common stock and Series A preferred stock have no preemptive or conversion rights or other subscription rights, and there are
no redemption or sinking fund provisions applicable to the common stock or Series A preferred stock.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Warrants</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of June 30, 2022, we had total outstanding warrants to purchase up to 5,870,610 shares of common stock at a weighted average exercise
price of&#8201;$3.28 per share.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Units</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
unit being offered in this offering consists of one share of common stock and a warrant to purchase one share of common stock. The share
of common stock and warrant that are part of the units are immediately separable and will be issued separately in this offering, although
they will have been purchased together in this offering.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Warrants
Issued in this Offering</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Form</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
warrants will be issued under a warrant agent agreement between us and Colonial Stock Transfer Company, Inc., as warrant agent. The material
terms and provisions of the warrants offered hereby are summarized below. The following description is subject to, and qualified in its
entirety by, the form of warrant agent agreement and accompanying form of warrant, which is filed as an exhibit to the registration statement
of which this prospectus is a part. You should review a copy of the form of warrant agent agreement and accompanying form of warrant
for a complete description of the terms and conditions applicable to the warrants.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Exercisability</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
warrants are exercisable immediately upon issuance and will thereafter remain exercisable at any time up to five (5) years from the date
of original issuance. The 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 purchased upon such exercise (except in the case of
a cashless exercise as discussed below).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Exercise
Price</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
warrant represents the right to purchase one share of common stock at an exercise price of $ per share (equal to 125% of the public offering
price), assuming an initial public offering price of $ per unit (which is the midpoint of the estimated range of the initial public offering
price shown on the cover page of this prospectus). The exercise price is subject to appropriate adjustment in the event of certain share
dividends and distributions, stock splits, stock combinations, reclassifications or similar events affecting our shares of common stock
and also upon any distributions of assets, including cash, stock or other property to our shareholders. The warrant exercise price is
also subject to anti-dilution adjustments under certain circumstances.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cashless
Exercise</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If,
at any time during the term of the warrants, the issuance of shares of common stock upon exercise of the warrants is not covered by an
effective registration statement, the holder is permitted to effect a cashless exercise of the warrants (in whole or in part) by having
the holder deliver to us a duly executed exercise notice, canceling a portion of the warrant in payment of the purchase price payable
in respect of the number of shares of common stock purchased upon such exercise.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>&#160;</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Failure
to Timely Deliver Shares</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
we fail for any reason to deliver to the holder the shares subject to an exercise by the date that is the earlier of (i) two (2) trading
days and (ii) the number of trading days that is the standard settlement period on our primary trading market as in effect on the date
of delivery of the exercise notice, we must pay to the holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of
shares subject to such exercise (based on the daily volume weighted average price of our shares of common stock on the date of the applicable
exercise notice), $10 per trading day (increasing to $20 per trading day on the fifth (5<sup>th</sup>) trading day after such liquidated
damages begin to accrue) for each trading day after such date until such shares are delivered or the holder rescinds such exercise. In
addition, if after such date the holder is required by its broker to purchase (in an open market transaction or otherwise) or the holder&#8217;s
brokerage firm otherwise purchases, shares of common stock to deliver in satisfaction of a sale by the holder of the shares which the
holder anticipated receiving upon such exercise, then we shall (A) pay in cash to the holder the amount, if any, by which (x) the holder&#8217;s
total purchase price (including brokerage commissions, if any) for the shares of common stock so purchased exceeds (y) the amount obtained
by multiplying (1) the number of shares that we were required to deliver to the holder in connection with the exercise at issue times
(2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the holder, either
reinstate the portion of the warrant and equivalent number of shares for which such exercise was not honored (in which case such exercise
shall be deemed rescinded) or deliver to the holder the number of shares of common stock that would have been issued had we timely complied
with our exercise and delivery obligations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Exercise
Limitation</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
holder will not have the right to exercise any portion of a warrant if the holder (together with its affiliates) would beneficially own
in excess of 4.99% of the number of 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 warrants. However, any holder may increase or decrease such percentage to
any other percentage not in excess of 9.99%, provided that any increase in such percentage shall not be effective until 61 days following
notice from the holder to us.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Exchange
Listing</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have applied to list our warrants on The Nasdaq Capital Market under the symbol &#8220;OPHVW.&#8221;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Rights
as a Shareholder</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except
as otherwise provided in the warrants or by virtue of such holder&#8217;s ownership of our shares of common stock, the holder of a warrant
does not have the rights or privileges of a holder of our shares of common stock, including any voting rights, until the holder exercises
the warrant.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Governing
Law and Jurisdiction</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
warrant agent agreement and warrant provide that the validity, interpretation, and performance of the warrant agent agreement and the
warrants will be governed by the laws of the State of New York, without giving effect to conflicts of law principles that would result
in the application of the substantive laws of another jurisdiction. In addition, the warrant agent agreement and warrant provide that
any action, proceeding or claim against any party arising out of or relating to the warrant agent agreement or the warrants must be brought
and enforced in the state and federal courts sitting in the City of New York, Borough of Manhattan. Investors in this offering will be
bound by these provisions. However, we do not intend that the foregoing provisions would apply to actions arising under the Securities
Act or the Exchange Act.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Representative&#8217;s
Warrants</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have agreed to issue to the Representative of the underwriters warrants to purchase up to a total of
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares of common stock (&#160;&#160;&#160;&#160; % of the number of shares of
common stock sold in this offering), assuming an initial public offering price of $&#160;&#160;&#160;&#160;&#160; per unit (which is
the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus). The warrants
will be exercisable at any time, and from time to time, in whole or in part, during the four and a half-year period commencing six
months from the effective date of the offering, which period shall not extend further than five years from the effective date of the
offering. The warrants will provide for a one-time demand registration right and unlimited piggyback rights. See
&#8220;<i>Underwriting&#8212;Representative&#8217;s Warrants</i>&#8221; below for a description of the representative&#8217;s
warrants.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jonathan
Destler, our Chief Executive Officer, holds an option, dated March 21, 2021, to purchase 4,000,000 shares of common stock, at $2.00 per
share, under the Company&#8217;s 2016 Equity Incentive Plan. The option will vest and become exercisable over a four (4) year vesting
period, 83,333 option shares vest and become exercisable each month, beginning on May 1, 2021. This option shall expire on April 1, 2031<span style="text-decoration: underline">,
</span></span>and survive termination of the Mr. Destler&#8217;s amended employment agreement dated March 21, 2021.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Steve
Handy, our Chief Financial Officer and Director of Operations, holds an option, dated May 17, 2021, to purchase 300,000 shares of common
stock, at $2.00 per share, under the Company&#8217;s 2016 Equity Incentive Plan. The option will vest and become exercisable over a twelve
(12) month vesting period such that 1/12 of the total number of option shares will vest and become exercisable on each monthly anniversary.
Mr. Handy, also holds an option, dated May 9, 2022, to purchase 100,000 shares of common stock, at $2.00 per share, under the Company&#8217;s
2022 Stock Incentive Plan. The option will vest and become exercisable over a twenty four (24) month vesting period such that
1/24 of the total number of option shares will vest and become exercisable on each monthly anniversary. Vesting is of both options is
contingent upon Mr. Handy&#8217;s continued employment with the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of June 30, 2022, we had total outstanding options to purchase up to 4,540,000 shares of common stock at a weighted average exercise
price of $2.00 per share.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Registration
Rights Agreement</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to an Investors&#8217; Rights Agreement by and between us and certain investors, we are obligated to register for resale that number
of shares of common stock underlying Senior Convertible Promissory Notes and equal number of shares of common stock underlying Warrants,
offered and sold pursuant to certain Note and Warrant Purchase Agreements, dated as of October 7, 2021. We must register such shares
upon our first underwritten public offering that is made under an effective registration statement under the Securities Act, covering
the offer and sale of not less than $10,000,000 of our equity securities, as a result of or following which we become a reporting issuer
under the Exchange Act and our common stock is listed on the Nasdaq Stock Market.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Transfer
Agent and Registrar</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
transfer agent is Colonial Stock Transfer Company, Inc. (&#8220;Colonial Stock Transfer&#8221;). Their address is 2469 Fort Union Blvd
#214, Cottonwood Heights, Utah 84121. Colonial Stock Transfer&#8217;s telephone number is (801) 355-5740.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Indemnification
of Officers and Directors</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have authority under the General Corporation Law of the State of Delaware to indemnify our directors and officers to the extent provided
in that statute. Our Certificate of Incorporation and our Bylaws require the company to indemnify each of our directors and officers
against liabilities imposed upon them (including reasonable amounts paid in settlement) and expenses incurred by them in connection with
any claim made against them or any action, suit or proceeding to which they may be a party by reason of their being or having been a
director or officer of the company. We intend to enter into indemnification agreements with each of our officers and directors containing
provisions that may require us, among other things, to indemnify our officers and directors against certain liabilities that may arise
by reason of their status or service as officers or directors (other than liabilities arising from willful misconduct of a culpable nature)
and to advance their expenses incurred as a result of any proceeding against them as to which they could be indemnified. Management believes
that such indemnification provisions and agreements are necessary to attract and retain qualified persons as directors and executive
officers.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to our directors, officers and controlling
persons pursuant to the foregoing provisions or otherwise, we have been advised that in the opinion or the Securities and Exchange Commission,
such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.</span></p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Anti-Takeover
Provisions</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Certificate
of Incorporation and Bylaws</i></b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because
our stockholders do not have cumulative voting rights, directors shall be elected by a plurality of the voting power of the shares present
in person or represented by proxy at a meeting of the stockholders and entitled to vote on the election of directors, subject to Series
A preferred stock voting rights. A special meeting of stockholders may be called the majority of our whole board of directors, Chairperson
of the Board, Chief Executive Officer or President (in the absence of a Chief Executive Officer) or by one or more stockholders holding
shares in the aggregate entitled to cast not less than 10% of the votes at that meeting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
foregoing provisions will make it more difficult for our existing stockholders to replace our board of directors as well as for another
party to obtain control of us by replacing our board of directors. Since our board of directors has the power to retain and discharge
our officers, these provisions could also make it more difficult for existing stockholders or another party to effect a change in management.
In addition, the authorization of undesignated preferred stock makes it possible for our board of directors to issue preferred stock
with voting or other rights or preferences that could impede the success of any attempt to change our control.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
provisions are intended to enhance the likelihood of continued stability in the composition of our board of directors and its policies
and to discourage certain types of transactions that may involve an actual or threatened acquisition of us. These provisions are also
designed to reduce our vulnerability to an unsolicited acquisition proposal and to discourage certain tactics that may be used in proxy
fights. However, such provisions could have the effect of discouraging others from making tender offers for our shares and may have the
effect of deterring hostile takeovers or delaying changes in our control or management. As a consequence, these provisions also may inhibit
fluctuations in the market price of our stock that could result from actual or rumored takeover attempts.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Section
203 of the Delaware General Corporation Law</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are subject to Section 203 of the Delaware General Corporation Law, which prohibits a Delaware corporation from engaging in any business
combination with any interested stockholder for a period of three years after the date that such stockholder became an interested stockholder,
with the following exceptions:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">before
    such date, the board of directors of the corporation approved either the business combination or the transaction that resulted in
    the stockholder becoming an interested stockholder;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">upon
    closing of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned
    at least 85% of the voting stock of the corporation outstanding at the time the transaction began, excluding for purposes of determining
    the voting stock outstanding (but not the outstanding voting stock owned by the interested stockholder) those shares owned by (i)
    persons who are directors and also officers and (ii) employee stock plans in which employee participants do not have the right to
    determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">on
    or after such date, the business combination is approved by the board of directors and authorized at an annual or special meeting
    of the stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock that
    is not owned by the interested stockholder.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
general, Section 203 defines business combination to include the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">any
    merger or consolidation involving the corporation and the interested stockholder;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">any
    sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">subject
    to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation
    to the interested stockholder;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">any
    transaction involving the corporation that has the effect of increasing the proportionate share of the stock or any class or series
    of the corporation beneficially owned by the interested stockholder; or</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits by or
    through the corporation.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
general, Section 203 defines an &#8220;interested stockholder&#8221; as an entity or person who, together with the person&#8217;s affiliates
and associates, beneficially owns, or within three years prior to the time of determination of interested stockholder status did own,
15% or more of the outstanding voting stock of the corporation.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_007"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SHARES
ELIGIBLE FOR FUTURE SALE</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to this offering, there has been no public market for our securities. Future sales of our common stock in the public market, including
shares issued upon the conversion of convertible notes, the exercise of outstanding options and warrants, or the availability of such
shares for sale in the public market, could adversely affect market prices prevailing from time to time.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Based
on the number of shares outstanding as of , 2022, immediately following the closing of this offering, we will have
&#160;&#160;&#160; shares of common stock issued and outstanding, assuming no exercise of the warrants being offered in this
offering, assuming no exercise of outstanding options, warrants and convertible notes, and assuming an initial public offering price
of $&#160;&#160;&#160;&#160; per unit (which is the midpoint of the estimated range of the initial public offering price shown on the cover page of this
prospectus). In the event the underwriters exercise the over-allotment option to purchase additional shares of common stock and/or
warrants in full, we will have shares of common stock issued and outstanding. The common stock sold in this offering will be freely
tradable without restriction or further registration or qualification under the Securities Act.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
described below, only a limited number of shares will be available for sale shortly after this offering due to contractual and legal
restrictions on resale. Nevertheless, sales of our common stock in the public market after such restrictions lapse, or the perception
that those sales may occur, could adversely affect the prevailing market price at such time and our ability to raise equity capital in
the future.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject
to lockup restrictions, previously issued shares of common stock that were not offered and sold in this offering, as well as shares issuable
upon the exercise of outstanding warrants or conversion of outstanding convertible notes and subject to employee stock options, are or
will be upon issuance, &#8220;restricted securities,&#8221; as that term is defined in Rule 144 under the Securities Act. These restricted
securities are eligible for public sale only if such public resale is registered under the Securities Act or if the resale qualifies
for an exemption from registration under Rule 144 or Rule 701 under the Securities Act, which are summarized below.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Rule
144</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
general, a person who has beneficially owned restricted stock for at least six months would be entitled to sell their securities provided
that (i) such person is not deemed to have been one of our affiliates at the time of, or at any time during the 90 days preceding, a
sale and (ii) we are subject to the Securities Exchange Act of 1934, as amended, or the Exchange Act, periodic reporting requirements
for at least 90 days before the sale. Persons who have beneficially owned restricted shares for at least six months but who are our affiliates
at the time of, or any time during the 90 days preceding, a sale, would be subject to additional restrictions, by which such person would
be entitled to sell within any three-month period only a number of securities that does not exceed the greater of either of the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1%
    of the number of shares then outstanding, which will equal approximately shares of common stock immediately after this offering,
    assuming no exercise of the underwriters&#8217; option, assuming no exercise of the warrants being offered in this offering, assuming
    no exercise of outstanding options, warrants and convertible notes, and assuming an initial public offering price of $ per unit (which
    is the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus); or</span></td></tr>

<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    average weekly trading volume of our common stock on The Nasdaq Capital Market during the four calendar weeks preceding the filing
    of a notice on Form 144 with respect to the sale;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">provided,
in each case, that we are subject to the Exchange Act periodic reporting requirements for at least 90 days before the sale. Such sales
both by affiliates and by non-affiliates must also comply with the manner of sale, current public information and notice provisions of
Rule 144.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Rule
701</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rule
701 under the Securities Act, as in effect on the date of this prospectus, permits resales of shares in reliance upon Rule 144 but without
compliance with certain restrictions of Rule 144, including the holding period requirement. Most of our employees, executive officers
or directors who purchased shares under a written compensatory plan or contract may be entitled to rely on the resale provisions of Rule
701, but all holders of Rule 701 shares are required to wait until 90 days after the date of this prospectus before selling their shares.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Each
prospective investor should consult its tax advisor regarding the particular U.S. federal, state and local and non-U.S. tax consequences
of purchasing, holding and disposing of our common stock, including the consequences of any proposed change in applicable laws</b>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_008"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>UNDERWRITING</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">WestPark
Capital, Inc., or WestPark Capital, is acting as the representative of the underwriters of this offering. Under the terms of an underwriting
agreement, which is filed as an exhibit to the registration statement, each of the underwriters named below has severally agreed to purchase
from us the respective number of shares of common stock shown opposite its name below:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Commissions
and Expenses</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table shows the public offering price, underwriting discount and proceeds, before expenses, to us. The information assumes
either no exercise or full exercise by the underwriters of their over-allotment option.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number
    of<br /> Units<sup>(1)</sup></b></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 80%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Westpark
    Capital</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
underwriting agreement provides that the underwriters&#8217; obligation to purchase Units depends on the satisfaction of the conditions
contained in the underwriting agreement including:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            representations and warranties made by us to the underwriters are true;</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">there
                                            is no material change in our business or the financial markets; and</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">we
                                            deliver customary closing documents to the underwriters.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 3%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 97%; text-align: justify"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
                                            the assumed initial public offering price of $&#160;&#160;&#160;&#160;&#160;&#160;&#160; per share (which is the midpoint
                                            of the estimated range of the initial public offering price shown on the cover page of this
                                            prospectus).</span></p>
                                                                                <p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"></p></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
underwriters are committed to purchase, severally and not jointly, all of the units offered by us, other than those covered by the over-allotment
option described below, if they purchase any units. The obligations of the underwriters may be terminated upon the occurrence of certain
events specified in the underwriting agreement. Furthermore, pursuant to the underwriting agreement, the underwriters&#8217; obligations
are subject to customary conditions, representations and warranties contained in the underwriting agreement, such as receipt by the underwriters
of officers&#8217; certificates and legal opinions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have agreed to indemnify the underwriters against specified liabilities, including liabilities under the Securities Act, and to contribute
to payments the underwriters may be required to make in respect thereof.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
underwriters are offering the units, subject to prior sale, when, as and if issued to and accepted by them, subject to approval of legal
matters by their counsel and other conditions specified in the underwriting agreement. The underwriters reserve the right to withdraw,
cancel or modify offers to the public and to reject orders in whole or in part.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Over-Allotment
Option</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have granted the underwriters an over-allotment option. This option, which is exercisable for up to 45 days, permits the underwriters
to purchase up to an aggregate of additional shares of common stock (equal to 15% of the shares of common stock sold in the offering)
and/or additional warrants to purchase shares of common stock (equal to 15% of the warrants sold in the offering) at the assumed initial
public offering price of $&#160;&#160;&#160;&#160;&#160;&#160; per share (which is the midpoint of the estimated range of the initial public offering price shown
on the cover page of this prospectus), less underwriting discounts and commissions, solely to cover over-allotments, if any.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Discounts,
Commissions and Reimbursement</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table shows the public offering price, underwriting discounts and commissions to be paid to the underwriters, and proceeds,
before expenses, to us. Such amounts are shown assuming both no exercise and full exercise of the underwriters&#8217; option to purchase
additional shares.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Per
    Unit<sup>(1)</sup></b></span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Without
    Option</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With
    Option</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 52%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Public
    offering price</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting
    discounts and commissions (8%)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accountable
    expense allowance (1%)</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proceeds,
    before expenses, to us</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
    the assumed initial public offering price of $ per share (which is the midpoint of the estimated range of the initial public offering
    price shown on the cover page of this prospectus).</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
underwriters propose to offer the units to the public at the initial public offering price set forth on the cover of this prospectus.
In addition, the underwriters may offer some of the units to securities dealers at the public offering price less a concession of $ per
share. If all of the units offered by us are not sold at the initial public offering price, the Representative may change the offering
price and other selling terms.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have also agreed to pay all expenses relating to the offering, including: (a) all filing fees and expenses relating to the registration
of the units, and shares of common stock and warrants underlying the units, with the SEC; (b) all fees and expenses relating to the listing
of the shares on Nasdaq; (c) all fees, expenses and disbursements relating to the registration, qualification or exemption of the shares
offered under &#8220;blue sky&#8221; securities laws or the securities laws of other jurisdictions designated by the Representative,
including the reasonable fees and expenses of the Representative&#8217;s blue sky counsel; (d) all fees, expenses and disbursements relating
to the registration, qualification or exemption of the shares under the securities laws of such foreign jurisdictions; (e) the costs
of mailing and printing the offering materials; (f) transfer and/or stamp taxes, if any, payable upon our transfer of the shares to the
Representative, as well as fees and expenses of the warrant agent under the Warrant Agency Agreement; (g) FINRA filing fee, the fees
and expenses of our accountants; and (h) a maximum of $150,000 for actual accountable expenses of the Representative, which amount includes
expenses for the Representative&#8217;s legal counsel and road show expenses. We will also pay to the representative by deduction from
the net proceeds of this offering, a non-accountable expense allowance equal to 1% of the gross proceeds received by us from the sale
of our securities in this offering.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have paid a $50,000 advance to the Representative, which will be applied against actual out-of-pocket-accountable expenses, which will
be returned to us to the extent such out-of-pocket accountable expenses are not actually incurred in accordance with FINRA Rule 5110(g)(4)(A).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
estimate that the total expenses of the offering payable by us, excluding the total underwriting discount, will be approximately $&#160;&#160;&#160;&#160;&#160; .</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Representative&#8217;s
Warrants</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have agreed to issue to the Representative warrants to purchase up to a total of shares of common stock (3% of the number of units sold
in this offering). The warrants will be exercisable at any time, and from time to time, in whole or in part, during the four and a half-year
period commencing six months from the effective date of the offering, which period shall not extend further than five years from the
effective date of the offering in compliance with FINRA Rule 5110(g)(8)(A). The warrants are exercisable at a per share price equal to
125% of the initial public offering price per share in the offering. The warrants have been deemed compensation by FINRA and are therefore
subject to a 180-day lock-up pursuant to Rule 5110(g)(1) of FINRA. The Representative (or permitted assignees under Rule 5110(e)(1))
will not sell, transfer, assign, pledge, or hypothecate these warrants or the securities underlying these warrants, nor will they engage
in any hedging, short sale, derivative, put, or call transaction that would result in the effective economic disposition of the warrants
or the underlying securities for a period of 180 days from the date of this prospectus. The warrants will provide for cashless exercise
and customary anti-dilution provisions (for share dividends, splits, and recapitalizations and the like) consistent with FINRA Rule 5110(g)(8),
and the number of shares underlying the warrants shall be reduced, or the exercise price increased, if necessary, to comply with FINRA
rules or regulations. Further, the warrants will provide for a one-time demand registration right, which will terminate on the fifth
anniversary of the effective date of this offering, and unlimited piggyback rights, which will terminate on the seventh anniversary of
the effective date of the offering.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Right
of First Refusal and Tail Financing</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
a period of eighteen (18) months from the closing date, the Representative has a right of first refusal to act as sole investment banker,
sole book running manager and/or placement agent, at its sole discretion, for each and every of our future public and private equity
and debt offering, including all equity linked financings, for us, or any of our successors or subsidiaries, on terms customary to the
Representative. The Representative, in conjunction with us, has the sole right to determine whether or not any other broker-dealer shall
have the right to participate in any such offering and the economic terms of any such participation.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the event this offering is not consummated, the Representative will also be entitled to a cash fee of 8% of the equity gross proceeds
received by us and 4% of the debt from the sale of any debt instruments with respect to any public or private sale of equity or debt
securities, referred to as &#8220;Tail Financing,&#8221; to the extent that such financing or capital is provided to us by investors
whom the Representative introduced to us during the term of our engagement agreement with the Representative, or if such Tail Financing
is consummated at any time within the 12-month period following the expiration or termination of such agreement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
Information</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to this offering, there has been no public market for shares of our common stock. The initial public offering price will be determined
by negotiations between us and the representatives of the underwriters. In addition to prevailing market conditions, the factors to be
considered in these negotiations will include:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    history of, and prospects for, our company and the industry in which we compete;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    past and present financial information;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
    assessment of our management; its past and present operations, and the prospects for, and timing of, our future revenues;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    present state of our development; and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    above factors in relation to market values and various valuation measures of other companies engaged in activities similar to ours.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
active trading market for the shares may not develop. It is also possible that after the offering the shares will not trade in the public
market at or above the initial public offering price.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have applied to list our common stock on the Nasdaq Capital Market under the symbol &#8220;OPHV.&#8221;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
underwriters do not intend to confirm sales of the securities offered hereby to any accounts over which they have discretionary authority.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Lock-Up
Agreements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
executive officers and directors, and certain of our stockholders have agreed not to, without the prior written consent of the Representative,
directly or indirectly, offer to sell, sell, pledge or otherwise transfer or dispose of any of shares of our common stock (or enter into
any transaction or device that is designed to, or could be expected to, result in the transfer or disposition by any person at any time
in the future of our common stock), enter into any swap or other derivatives transaction that transfers to another, in whole or in part,
any of the economic benefits or risks of ownership of shares of our common stock, make any demand for or exercise any right or cause
to be filed a registration statement, including any amendments thereto, with respect to the registration of any shares of common stock
or securities convertible into or exercisable or exchangeable for shares of common stock or any other of our securities or publicly disclose
the intention to do any of the foregoing, subject to customary exceptions, for a period of 180 days from the date of this prospectus.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>No
Sales of Similar Securities</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have agreed not to offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to
sell, grant any option, right or warrant to purchase or otherwise transfer or dispose of, directly or indirectly, any shares of capital
stock or any securities convertible into or exercisable or exchangeable for shares of capital stock or enter into any swap or other agreement
that transfers, in whole or in part, any of the economic consequences of ownership of our shares of capital stock, whether any such transaction
is to be settled by delivery of shares of capital stock or such other securities, in cash or otherwise, without the prior written consent
of the Representative, for a period of 180 days from the date of this prospectus.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Electronic
Offer, Sale and Distribution of Shares</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
prospectus in electronic format may be made available on the websites maintained by one or more of the underwriters or selling group
members. The Representative may agree to allocate a number of shares of common stock to the underwriters and selling group members for
sale to their online brokerage account holders. Internet distributions will be allocated by the underwriters and selling group members
that will make Internet distributions on the same basis as other allocations. Other than the prospectus in electronic format, the information
on these websites is not part of, nor incorporated by reference into, this prospectus or the registration statement of which this prospectus
forms a part, has not been approved or endorsed by us, and should not be relied upon by investors.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stabilization</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with this offering, the underwriters may engage in stabilizing transactions, over-allotment transactions, syndicate-covering
transactions, penalty bids and purchases to cover positions created by short sales.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stabilizing
    transactions permit bids to purchase securities so long as the stabilizing bids do not exceed a specified maximum and are engaged
    in for the purpose of preventing or retarding a decline in the market price of the securities while the offering is in progress.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Over-allotment
    transactions involve sales by the underwriters of securities in excess of the number of securities the underwriters are obligated
    to purchase. This creates a syndicate short position which may be either a covered short position or a naked short position. In a
    covered short position, the number of securities over-allotted by the underwriters is not greater than the number of securities that
    they may purchase in the over-allotment option. In a naked short position, the number of securities involved is greater than the
    number of securities in the over-allotment option. The underwriters may close out any short position by exercising its over-allotment
    option and/or purchasing securities in the open market.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Syndicate
    covering transactions involve purchases of securities in the open market after the distribution has been completed in order to cover
    syndicate short positions. In determining the source of the securities to close out the short position, the underwriters will consider,
    among other things, the price of securities available for purchase in the open market as compared with the price at which they may
    purchase securities through exercise of the over-allotment option. If the underwriters sell more securities than could be covered
    by exercise of the over-allotment option and, therefore, have a naked short position, the position can be closed out only by buying
    securities in the open market. A naked short position is more likely to be created if the underwriters are concerned that after pricing
    there could be downward pressure on the price of the securities in the open market that could adversely affect investors who purchase
    in the offering.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Penalty
    bids permit the Representative to reclaim a selling concession from a syndicate member when the securities originally sold by that
    syndicate member are purchased in stabilizing or syndicate covering transactions to cover syndicate short positions.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
stabilizing transactions, over-allotment transactions, syndicate covering transactions and penalty bids may have the effect of raising
or maintaining the market price of our securities or preventing or retarding a decline in the market price of our securities. As a result,
the price of our securities in the open market may be higher than it would otherwise be in the absence of these transactions. Neither
we nor the underwriters make any representation or prediction as to the effect that the transactions described above may have on the
price of our securities. These transactions may be effected on the Nasdaq Capital Market, in the over-the-counter market or otherwise
and, if commenced, may be discontinued at any time.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Passive
Market Making</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with this offering, underwriters and selling group members may engage in passive market making transactions in our securities
on the Nasdaq Capital Market in accordance with Rule 103 of Regulation M under the Exchange Act, during a period before the commencement
of offers or sales of the shares and extending through the completion of the distribution. A passive market maker must display its bid
at a price not in excess of the highest independent bid of that security. However, if all independent bids are lowered below the passive
market maker&#8217;s bid, then that bid must then be lowered when specified purchase limits are exceeded.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Certain
Relationships</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
underwriters and their affiliates [have provided], or may in the future provide, various investment banking, commercial banking, financial
advisory, brokerage or other services to us and our affiliates for which services they [have received], and may in the future receive,
customary fees and expense reimbursement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
underwriters and their affiliates may, from time to time, engage in transactions with and perform services for us in the ordinary course
of our business for which they may receive customary fees and reimbursements of expenses. In the ordinary course of their various business
activities, the underwriters and their 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 accounts and for the accounts of their
customers and such investment and securities activities may involve our securities and/or instruments. The underwriters and their affiliates
may also make investment recommendations 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.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Offer
Restrictions Outside the United States</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
than in the United States, no action has been taken by us or the underwriters that would permit a public offering of the securities offered
by this prospectus in any jurisdiction where action for that purpose is required. The securities offered by this prospectus may not be
offered or sold, directly or indirectly, nor may this prospectus or any other offering material or advertisements in connection with
the offer and sale of any such securities be distributed or published in any jurisdiction, except under circumstances that will result
in compliance with the applicable rules and regulations of that jurisdiction. Persons into whose possession this prospectus comes are
advised to inform themselves about and to observe any restrictions relating to 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.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_009"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>LEGAL
MATTERS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
validity of the issuance of our units, common stock and warrants offered in this prospectus will be passed upon for us by Law Offices
of Thomas Puzzo, PLLC. Certain legal matters as to the New York law in connection with this offering will be passed upon for us by Clark
Hill PLC. Blank Rome LLP is acting as counsel for the Representative of the underwriters with respect to the offering.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_010"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>EXPERTS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
financial statements included in this prospectus for the years ended December 31, 2021 and 2020 have been audited by Weinberg &amp; Company,
P.A., and are included in reliance upon such report given upon the authority of said firm as experts in auditing and accounting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_011"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>WHERE
YOU CAN FIND MORE INFORMATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have filed with the Securities and Exchange Commission, or the SEC, a registration statement on Form S-1 under the Securities Act of
1933, as amended, with respect to the securities offered by this prospectus. This prospectus does not contain all of the information
included in the registration statement. For further information pertaining to us and our units to be sold in this offering, you should
refer to the registration statement and to its exhibits. Statements contained in this prospectus regarding the contents of any contract
or any other document that is filed as an exhibit to the registration statement are not necessarily complete, and each such statement
is qualified in all respects by reference to the full text of such contract or other document filed as an exhibit to the registration
statement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
the closing of the offering, we will be subject to the informational requirements of the Exchange Act and will file annual, quarterly
and current reports, proxy statements and other information with the SEC. You can read our SEC filings, including the registration statement,
at the SEC&#8217;s website at www.sec.gov. We also maintain a website at www.opti<i>-harvest.com</i>. Upon completion of the offering,
you may access, free of charge, our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendment
to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as reasonably practicable after such
material is 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.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_012"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Index
to Financial Statements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contents</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 0.75in; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Page(s)</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><a href="#ba_013"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Report of Independent Registered Public Accounting Firm&#8211;Weinberg &amp; Company, P.A.</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-2    </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><a href="#ba_014"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance Sheets as of December 31, 2021 and 2020</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-3
    </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><a href="#ba_015"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statements of Operations for the years ended December 31, 2021 and 2020</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-4
    </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><a href="#ba_016"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statements
    of Shareholders&#8217; Equity (Deficit) for the years ended December 31, 2021 and 2020</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-5
    </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><a href="#ba_017"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statements of Cash Flows for the years ended December 31, 2021 and 2020</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-6
    </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><a href="#ba_018"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to Financial Statements</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-7
    </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><a href="#ba_019"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Condensed Balance Sheets as of June 30, 2022 (unaudited) and December 31, 2021</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-27
    </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><a href="#ba_020"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Condensed Statements of Operations for the three and six months ended June 30, 2022 and 2021 (unaudited)</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-28
    </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"><a href="#ba_021"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Condensed
    Statements of Shareholders&#8217; Equity (Deficit) for the three and six months ended June 30, 2022 and 2020 (unaudited)</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-29
    </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><a href="#ba_022"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Condensed Statements of Cash Flows for the six months ended June 30, 2022 and 2021 (unaudited)</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-30
    </span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><a href="#ba_023"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to Condensed Financial Statements</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-31</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_013"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INDEPENDENT
AUDITOR&#8217;S REPORT</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
the Stockholders and Board of Directors</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Harvest,
Inc.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Los
Angeles, California</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opinion
on the Financial Statements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have audited the accompanying balance sheets of Opti-Harvest, Inc. (the &#8220;Company&#8221;) as of December 31, 2021 and 2020, the
related statements of operations, changes in shareholders&#8217; equity (deficit), and cash flows for the years then ended and the related
notes (collectively referred to as the &#8220;financial statements&#8221;). In our opinion, the financial statements present fairly,
in all material respects, the financial position of the Company as of December 31, 2021 and 2020, and the results of its operations and
its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Going
Concern</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note
1, the Company experienced a net loss and utilized cash from operations during the year ended December 31, 2021. These matters raise
substantial doubt about the Company&#8217;s ability to continue as a going concern. Management&#8217;s plans in regard to these matters
are also described in Note 1 to the financial statements. These financial statements do not include any adjustments that might result
from the outcome of this uncertainty.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basis
for Opinion</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
financial statements are the responsibility of the Company&#8217;s management. Our responsibility is to express an opinion on the Company&#8217;s
financial statements based on our audits. We are a public accounting firm registered with the Public Accounting Oversight Board (United
States) (&#8220;PCAOB&#8221;) and are required to be independent with respect to the Company in accordance with the U.S. federal securities
laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits,
we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion
on the effectiveness of the Company&#8217;s internal control over financial reporting. Accordingly, we express no such opinion.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
audits included performing procedures to assess the risks of material misstatement, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the
financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management,
as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for
our opinion.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>/s/
Weinberg &amp; Company, P.A.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Los
Angeles, California</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February
28, 2022</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have served as the Company&#8217;s auditor since 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_014"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OPTI-HARVEST,
INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BALANCE
SHEETS</b></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Amounts
rounded to nearest thousands, except share amounts)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" id="xdx_301_111_zwRSPynUkcSh" summary="xdx: Statement - Balance Sheets" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td id="xdx_496_20211231_zAdpi2ewmNn4" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td id="xdx_49E_20201231_zeTlj68se3gd" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40A_eus-gaap--AssetsAbstract_iB_zeNsUcWAbUge" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_409_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_i01I_maACzxzJ_zT6eIqMcPMtf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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  <tr id="xdx_40E_eus-gaap--AssetsCurrent_i02TI_mtACzxzJ_maAzoSz_zNyjD9mxNBYi" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentNet_i01I_maAzoSz_zzKF6CIIfDch" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40B_eus-gaap--DepositsAssetsNoncurrent_i01I_maAzoSz_z1nTDGW4hkal" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    on purchase of equipment</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0063">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_403_ecustom--DeferredOfferingCost_i01I_maAzoSz_zkAeDD0VqVmi" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
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  <tr id="xdx_407_eus-gaap--Assets_i01TI_mtAzoSz_zbci1w6Thmyg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
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    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:Assets" contextRef="AsOf2020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">767,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_405_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_iB_zZPz5EV0H5xk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">LIABILITIES
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  <tr id="xdx_409_eus-gaap--LiabilitiesCurrentAbstract_i01B_zSX1EfJgVBd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_403_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrent_i02I_maLCzM7g_ziyJoOlC4qFe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent" contextRef="AsOf2020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">618,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40E_eus-gaap--ConvertibleNotesPayableCurrent_i02I_maLCzM7g_zpHk2qDKNrTj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Convertible
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:ConvertibleNotesPayableCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,265,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0081">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40F_eus-gaap--LoansPayableCurrent_i02I_maLCzM7g_zIxHlfSx5wVj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current
    portion of loan payable</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:LoansPayableCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">8,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:LoansPayableCurrent" contextRef="AsOf2020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_403_ecustom--PatentPurchaseObligationCurrent_i02I_maLCzM7g_zA1RCH33c0Q" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Patent
    purchase obligation</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0090">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="OPTI:PatentPurchaseObligationCurrent" contextRef="AsOf2020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">100,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40A_eus-gaap--LiabilitiesCurrent_i02TI_mtLCzM7g_maLzRC9_zBHXH2Vybfia" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: italic 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
    Current Liabilities</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:LiabilitiesCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,259,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:LiabilitiesCurrent" contextRef="AsOf2020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">725,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_406_eus-gaap--LongTermLoansPayable_i01I_maLzRC9_zV25DuWKAAUl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loan
    payable, less current portion</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:LongTermLoansPayable" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">25,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:LongTermLoansPayable" contextRef="AsOf2020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">33,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_402_eus-gaap--LongTermNotesPayable_i01I_maLzRC9_zuujKy3NxUuf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note
    payable</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0099">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:LongTermNotesPayable" contextRef="AsOf2020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">38,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40B_eus-gaap--Liabilities_i01TI_mtLzRC9_maLASEzNs5_z2hQGUaZiXj9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
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    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shareholders&#8217;
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  <tr id="xdx_407_eus-gaap--PreferredStockValue_i02I_maSEzKQa_z4xHZG6cJlr1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0112">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_40A_eus-gaap--CommonStockValue_i02I_maSEzKQa_zElKpAMRi156" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:CommonStockValue" contextRef="AsOf2020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr id="xdx_401_eus-gaap--AdditionalPaidInCapital_i02I_maSEzKQa_zzrKxnwHjWol" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional
    paid-in-capital</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><ix:nonFraction name="us-gaap:AdditionalPaidInCapital" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">20,344,000</ix:nonFraction></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr id="xdx_409_eus-gaap--RetainedEarningsAccumulatedDeficit_i02I_maSEzKQa_zkY8mZyD1rIi" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated
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    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these financial statements.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<!-- Field: Page; Sequence: 93; Value: 2 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span id="ba_015"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OPTI-HARVEST,
INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>STATEMENTS
OF OPERATIONS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
the Years Ended December 31, 2021 and 2020</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Amounts
rounded to nearest thousands, except share and per share amounts)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_016"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OPTI-HARVEST,
INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>STATEMENTS
OF CHANGES IN SHAREHOLDERS&#8217; EQUITY (DEFICIT)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
the Years Ended December 31, 2021 and 2020</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Amount
rounded to nearest thousands, except share amount)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_017"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OPTI-HARVEST,
INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>STATEMENTS
OF CASH FLOWS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
the Years Ended December 31, 2021 and 2020</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Amounts
rounded to nearest thousands)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" id="xdx_306_112_zB1mwLYfAqMk" summary="xdx: Statement - Statements of Cash Flows" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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  <tr id="xdx_40F_ecustom--AmortizationOfIntangibleAsset_i02_maNCPBUzU5h_zKDhF9NhyEZe" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Amortization of intangible assets</td><td>&#160;</td>
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  <tr id="xdx_40C_eus-gaap--AmortizationOfDebtDiscountPremium_i02_maNCPBUzU5h_zgpE9VF4XK22" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Amortization of debt discount</td><td>&#160;</td>
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  <tr id="xdx_400_ecustom--FinancingCosts_i02_maNCPBUzU5h_zVYhD1MoykE1" style="display: none; vertical-align: bottom; background-color: White">
    <td style="text-align: left">Financing costs</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0316">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40F_eus-gaap--InventoryWriteDown_i02_maNCPBUzU5h_zC91oOR6QZCd" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Increase in inventory reserves</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0319">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40E_eus-gaap--IssuanceOfStockAndWarrantsForServicesOrClaims_i02_maNCPBUzU5h_zWGj7LbU6DO6" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Fair value of common stock issued for services</td><td>&#160;</td>
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  <tr id="xdx_400_ecustom--FairValueOfVestedOptionsAndWarrants_i02_maNCPBUzU5h_zSt7vie7atuc" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Fair value of vested options and warrants</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0325">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_406_ecustom--FairValueOfVestedRestrictedStockUnits_i02_maNCPBUzU5h_zqQccRk09UXj" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Fair value of vested restricted stock units</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0327">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0328">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40C_ecustom--GainOnForgivenessOfSbaPppLoan_i02N_di_msNCPBUzU5h_zRyGdRKo6XOe" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Gain on forgiveness of SBA PPP loan</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="OPTI:GainOnForgivenessOfSbaPppLoan" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">38,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0331">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_406_eus-gaap--IncreaseDecreaseInOperatingCapitalAbstract_i02B_zh8RIuAdSink" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-style: italic; text-align: left">Changes in operating assets and liabilities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40D_eus-gaap--IncreaseDecreaseInAccountsReceivable_i03N_di_msNCPBUzU5h_zr7P6MO4O396" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Accounts receivable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsReceivable" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">17,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsReceivable" contextRef="From2020-01-012020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,000</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_400_eus-gaap--IncreaseDecreaseInInventories_i03N_di_msNCPBUzU5h_z8iURnq71El7" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInInventories" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">60,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0340">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_407_eus-gaap--IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_i03N_di_msNCPBUzU5h_z8II6SNYddk7" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Prepaid expenses and other current assets</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">87,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0343">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_404_eus-gaap--IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_i03_maNCPBUzU5h_zNearRV3Ybq2" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt">Accounts payable and accrued expenses</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">368,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" contextRef="From2020-01-012020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">359,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_407_eus-gaap--NetCashProvidedByUsedInOperatingActivities_i01T_mtNCPBUzU5h_maCCERCzeeP_zmOYVr4RIJhh" style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Net cash used in operating activities</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">5,303,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="From2020-01-012020-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">2,504,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_406_eus-gaap--NetCashProvidedByUsedInInvestingActivitiesAbstract_iB_z2DpNMIkAtZ4" style="vertical-align: bottom; background-color: White">
    <td style="font-style: italic; text-align: left">Cash Flows from Investing Activities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40A_eus-gaap--PaymentsToAcquirePropertyPlantAndEquipment_i01N_di_msNCPBUzIZO_zdNSmPzSxfC8" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Purchase of property and equipment</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:PaymentsToAcquirePropertyPlantAndEquipment" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">20,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:PaymentsToAcquirePropertyPlantAndEquipment" contextRef="From2020-01-012020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">390,000</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_40E_ecustom--DepositsToAcquirePropertyPlantAndEquipment_i01N_di_msNCPBUzIZO_zUINEyrKkHNf" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt">Deposits on purchase of equipment</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="OPTI:DepositsToAcquirePropertyPlantAndEquipment" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,351,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0358">-</span></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_40D_eus-gaap--NetCashProvidedByUsedInInvestingActivities_i01T_mtNCPBUzIZO_maCCERCzeeP_zB6JikwrGgVb" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Net cash used in investing activities</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInInvestingActivities" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,371,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInInvestingActivities" contextRef="From2020-01-012020-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">390,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_401_eus-gaap--NetCashProvidedByUsedInFinancingActivitiesAbstract_iB_z6PLk4rMYIy" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-style: italic; text-align: left">Cash Flows from Financing Activities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_403_eus-gaap--ProceedsFromIssuanceOfCommonStock_i01_maNCPBUze8H_zNBLI8ecwhM1" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Proceeds from sale of common stock and warrants</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfCommonStock" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,245,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfCommonStock" contextRef="From2020-01-012020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,513,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40F_ecustom--ProceedsFromExerciseOfWarrants_i01_maNCPBUze8H_zXHWxtnnsoob" style="display: none; vertical-align: bottom; background-color: White">
    <td style="text-align: left">Proceeds from exercise of warrants</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0369">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0370">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_407_eus-gaap--ProceedsFromConvertibleDebt_i01_maNCPBUze8H_z04TLLFbl0Gc" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Proceeds from convertible notes payable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:ProceedsFromConvertibleDebt" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,034,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0373">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40A_eus-gaap--ProceedsFromNotesPayable_i01_maNCPBUze8H_zTfB0KbfQ1nd" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Proceeds from note payable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0375">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:ProceedsFromNotesPayable" contextRef="From2020-01-012020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">38,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40C_ecustom--RepaymentsOfDeferredOfferingCosts_i01N_di_msNCPBUze8H_zZFo8IeZ2Su7" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Deferred offering costs</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="OPTI:RepaymentsOfDeferredOfferingCosts" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">186,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0379">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40A_eus-gaap--RepaymentsOfShortTermDebt_i01N_di_msNCPBUze8H_z3kH2Vb4fntg" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Repayment of loans payable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:RepaymentsOfShortTermDebt" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0382">-</span></td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">Reclassification of vendor deposits to property and equipment</td><td>&#160;</td>
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    <td style="text-align: left">Reclassification of vendor deposits to inventory</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0424">-</span></td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">Issuance of loan payable for vehicle purchase</td><td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are integral part of these financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_018"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OPTI-HARVEST,
INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES
TO FINANCIAL STATEMENTS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
the Years Ended December 31, 2021 and 2020</b></span></p>

<p id="xdx_046_c20210101__20211231_zVeGZB8Mbae9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Amounts
rounded to nearest thousands, except share and per share amounts)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:NatureOfOperations"><p id="xdx_808_eus-gaap--NatureOfOperations_ziJkO1XwTI25" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
1 &#8211; <span>Operations and Liquidity</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_821_ziNrSppM2mr2">Basis
of Presentation and Liquidity</span>&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Harvest,
Inc. (&#8220;Opti-Harvest&#8221; or &#8220;the Company&#8221;) is an agricultural innovation company with products backed by a portfolio
of patented and patent pending technologies focused on solving several critical challenges faced by agribusinesses: maximizing crop yield,
accelerating crop growth, optimizing land and water resources, reducing labor costs and mitigating negative environmental impacts.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
advanced agriculture technology (Opti-Filter&#8482;) and precision farming (Opti-View&#8482;) platforms, enable commercial growers and
home gardeners to harness, optimize and better utilize sunlight, the planet&#8217;s most fundamental and renewable natural resource.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
sustainable agricultural technology platform is powered by the sun. It maximizes a free and renewable resource with no need for additional
chemicals or fertilizers.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opti-Harvest
was formed in the State of Delaware on June 20, 2016. Our principal executive offices are located at 1801 Century Park East, Suite 520,
Los Angeles, California 90067. Our website address is www.opti-harvest.com.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>COVID-19
Considerations</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the COVID-19 pandemic did not have a material net impact on the Company&#8217;s operating results.
In the future, the pandemic may cause reduced demand for the Company&#8217;s products if, for example, the pandemic results in a recessionary
economic environment which negatively effects the consumers who purchase our products. The Company has not observed any material impairments
of its assets or a significant change in the fair value of its assets due to the COVID-19 pandemic.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s ability to operate without significant negative operational impact from the COVID-19 pandemic will in part depend on
its ability to protect its employees and its supply chain. The Company has endeavored to follow the recommended actions of government
and health authorities to protect its employees. Since the onset of the COVID-19 pandemic, the Company maintained the consistency of
its operations. However, the uncertainty resulting from the pandemic could result in an unforeseen disruption to its workforce and supply
chain (for example an inability of a key supplier or transportation supplier to source and transport materials) that could negatively
impact the Company&#8217;s operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Going
Concern</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement
of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, during the year
ended December 31, 2021, the Company recorded a net loss of $<span id="xdx_909_eus-gaap--NetIncomeLoss_iN_pn5n6_di_c20210101__20211231_zCgYtsH3Uta4" title="Net loss"><ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="-5" scale="6" sign="-" unitRef="USD">10.1</ix:nonFraction></span> million and used cash in operations of $<span id="xdx_90E_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn5n6_di_c20210101__20211231_zqyFbQHjYJj2" title="Net cash provided by operating activities"><ix:nonFraction name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="-5" scale="6" sign="-" unitRef="USD">5.3</ix:nonFraction></span> million. These factors
raise substantial doubt about the Company&#8217;s ability to continue as a going concern within one year after the date of the financial
statements being issued. The ability of the Company to continue as a going concern is dependent upon the Company&#8217;s ability to raise
additional funds and implement its business plan. The financial statements do not include any adjustments that might be necessary if
the Company is unable to continue as a going concern.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
December 31, 2021, the Company had cash on hand in the amount of $<span id="xdx_906_eus-gaap--Cash_iI_pn5n6_c20211231_zwcXcUhiqKF7" title="Cash"><ix:nonFraction name="us-gaap:Cash" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">1.7</ix:nonFraction></span> million. The continuation of the Company as a going concern is
dependent upon its ability to obtain necessary debt or equity financing to continue operations until it begins generating positive cash
flow. No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory
to the Company. Even if the Company is able to obtain additional financing, it may contain undue restrictions on our operations, in the
case of debt financing or cause substantial dilution for our stockholders, in case or equity financing.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<ix:exclude><!-- Field: Page; Sequence: 97; Value: 2 -->
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:SignificantAccountingPoliciesTextBlock"><p id="xdx_80E_eus-gaap--SignificantAccountingPoliciesTextBlock_zNXqqO9ubUp7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
2 &#8211; <span id="xdx_82E_zCCJiDeJjzNh">Significant Accounting Policies</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:UseOfEstimates"><p id="xdx_84C_eus-gaap--UseOfEstimates_zxdhOljCU39g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zs5GBohuUuPb">Use
of Estimates</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date
of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ
from those estimates. Those estimates and assumptions include impairment testing of recorded long-term tangible and intangible assets,
the valuation allowance for deferred tax assets, accruals for potential liabilities, assumptions made in valuing stock instruments issued
for services, and assumptions used in the determination of the Company&#8217;s liquidity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:InventoryPolicyTextBlock"><p id="xdx_84D_eus-gaap--InventoryPolicyTextBlock_zzDz6m5uqYT3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Inventory</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventory
is stated at the lower of cost or net realizable value, with cost determined on a first-in, first-out (&#8220;FIFO&#8221;) basis. We
regularly review our inventory quantities on hand and record a provision for excess and obsolete inventory based primarily on our estimated
forecast of product demand and our ability to sell the product(s) concerned. Demand for our products can fluctuate significantly. Factors
that could affect demand for our products include unanticipated changes in consumer preferences, general market conditions or other factors,
which may result in cancellations of advance orders or a reduction in the rate of reorders placed by customers. Additionally, our management&#8217;s
estimates of future product demand may be inaccurate, which could result in an understated or overstated provision required for excess
and obsolete inventory. At December 31, 2021, the Company fully reserved its inventory balance on hand based on its estimate of obsolete
inventory.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

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and Equipment</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property
and equipment are stated at cost. Expenditures for major renewals and improvements that extend the useful lives of property and equipment
are capitalized, and expenditures for repairs and maintenance are charged to expense as incurred. Depreciation is calculated using the
straight-line method over the estimated useful lives of the assets as follows:</span></p>

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<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 80%; border-collapse: collapse; margin-right: auto">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    equipment </span></td>
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    years</ix:nonNumeric></span></span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
assesses the carrying value of property and equipment whenever events or changes in circumstances indicate that the carrying value may
not be recoverable. If there is indication of impairment, management prepares an estimate of future cash flows expected to result from
the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment
loss is recognized to write down the asset to its estimated fair value. For the years ended December 31, 2021 and 2020, the Company determined
there were no indicators of impairment of its property and equipment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="OPTI:DeferredOfferingCostsPolicyTextBlock"><p id="xdx_841_ecustom--DeferredOfferingCostsPolicyTextBlock_zytNfhVWsMk6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86A_zJEe6j2te718">Deferred
Offering Costs</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
offering costs consist principally of legal, accounting, and underwriters&#8217; fees incurred related to equity financings. These deferred
offering costs are deferred and then charged against the gross proceeds received once the equity financing occurs or are charged to expense
if the financing does not occur.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<ix:exclude><!-- Field: Page; Sequence: 98; Value: 2 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:RevenueFromContractWithCustomerPolicyTextBlock"><p id="xdx_849_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zjqDeU4qsiyh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zcFae7YFZx19">Revenue
Recognition</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company recognizes revenue in accordance with Accounting Standards Codification (ASC) 606, <i>Revenue from Contracts with Customers</i>
(&#8220;ASC 606&#8221;). The underlying principle of ASC 606 is to recognize revenue to depict the transfer of goods or services to customers
at the amount expected to be collected. ASC 606 creates a five-step model that requires entities to exercise judgment when considering
the terms of contract(s), which include (1) identifying the contract or agreement with a customer, (2) identifying our performance obligations
in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance
obligations, and (5) recognizing revenue as each performance obligation is satisfied.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company does not have any significant contracts with customers requiring performance beyond delivery, and contracts with customers contain
no incentives or discounts that could cause revenue to be allocated or adjusted over time. Shipping and handling activities are performed
before the customer obtains control of the goods and therefore represent a fulfillment activity rather than a promised service to the
customer. Revenue and costs of sales are recognized when control of the products transfers to our customer, which generally occurs upon
shipment from our facilities. The Company&#8217;s performance obligations are satisfied at that time.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
of the Company&#8217;s products are offered for sale as finished goods only, and there are no performance obligations required post-shipment
for customers to derive the expected value from them.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company does not allow for returns, except for product damaged during customer delivery. Damaged product returns have historically been
insignificant. Because of this, the stand-alone nature of our products, and our assessment of performance obligations and transaction
pricing for our sales contracts, we do not currently maintain a contract asset or liability balance for obligations. We assess our contracts
and the reasonableness of our conclusions on a quarterly basis.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:EarningsPerSharePolicyTextBlock"><p id="xdx_84B_eus-gaap--EarningsPerSharePolicyTextBlock_zZOQW7MzXRci" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_zF4WPwxWx1B2">Loss
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic
earnings (loss) per share is computed by dividing the net income (loss) applicable to common stockholders by the weighted average number
of shares of common stock outstanding during the period. Diluted earnings (loss) per share is computed by dividing the net income applicable
to common stockholders by the weighted average number of common shares outstanding plus the number of additional common shares that would
have been outstanding if all dilutive potential common shares had been issued, using the treasury stock method. Potential common shares
are excluded from the computation when their effect is antidilutive.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock"><p id="xdx_891_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zP3QbbCJmR22" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the years ended December 31, 2021 and 2020, the calculations of basic and diluted loss per share are the same because potential dilutive
securities would have had an anti-dilutive effect. The potentially dilutive securities consisted of the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_8BC_z7N5S9DY6I9c" style="display: none">Schedule of Anti-Dilutive Securities of Earning Per Share</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%">
  <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_499_20210101__20211231_zs77wCewxKqg" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_491_20200101__20201231_zwIMURkkTBX1" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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</ix:nonNumeric><p id="xdx_8A6_zlmBnZFMk5gg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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Compensation Expense</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company periodically issues stock options to employees and non-employees in non-capital raising transactions for services and for financing
costs. The Company accounts for such grants issued and vesting based on ASC 718, <i>Compensation-Stock Compensation</i> whereby the value
of the award is measured on the date of grant and recognized for employees as compensation expense on the straight-line basis over the
vesting period. The Company recognizes the fair value of stock-based compensation within its Statements of Operations with classification
depending on the nature of the services rendered.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
fair value of each option or warrant grant is estimated using the Black-Scholes option-pricing model. The Company is a private company
and lacks company-specific historical and implied volatility information. Therefore, it estimates its expected stock volatility based
on the historical volatility of a publicly traded set of peer companies within the agriculture technology industry with characteristics
similar to the Company. The expected term of the Company&#8217;s stock options has been determined utilizing the &#8220;simplified&#8221;
method for awards that qualify as &#8220;plain-vanilla&#8221; options. The expected term of stock options granted to non-employees is
equal to the contractual term of the option award. The risk-free interest rate is determined by reference to the U.S. Treasury yield
curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend
yield is zero, based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the
foreseeable future.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021 and 2020, common shares of the Company were not publicly traded. As such, during the period, the Company
estimated the fair value of common stock using an appropriate valuation methodology, in accordance with the framework of the American
Institute of Certified Public Accountants&#8217; Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued
as Compensation. Each valuation methodology includes estimates and assumptions that require the Company&#8217;s judgment. These estimates
and assumptions include a number of objective and subjective factors, including external market conditions, guideline public company
information, the prices at which the Company sold its common stock to third parties in arms&#8217; length transactions, the rights and
preferences of securities senior to the Company&#8217;s common stock at the time, and the likelihood of achieving a liquidity event such
as an initial public offering or sale. Significant changes to the assumptions used in the valuations could result in different fair values
of stock options at each valuation date, as applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:IncomeTaxPolicyTextBlock"><p id="xdx_847_eus-gaap--IncomeTaxPolicyTextBlock_zaaZVll63tN6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_869_zcM7u083WON3">Income
Taxes</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Income
tax expense is based on pretax financial accounting income. Deferred tax assets and liabilities are recognized for the expected tax consequences
of temporary differences between the tax bases of assets and liabilities and their reported amounts. Valuation allowances are recorded
to reduce deferred tax assets to the amount that will more likely than not be realized. The Company has recorded a valuation allowance
against its deferred tax assets as of December 31, 2021, and 2020.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The
first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more
likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any.
The second step is to measure the tax benefit as the largest amount that is more than 50 percent likely of being realized upon settlement.
The Company classifies the liability for unrecognized tax benefits as current to the extent that the Company anticipates payment (or
receipt) of cash within one year. Interest and penalties related to uncertain tax positions are recognized in the provision for income
taxes.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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and Development</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Research
and development costs include advisors, consultants, legal, software licensing, product design and development, data monitoring and collection,
field trial installations, and travel related expenses. Research and development costs are expensed as incurred. During the years ended
December 31, 2021 and 2020, research and development costs were $<span id="xdx_901_eus-gaap--ResearchAndDevelopmentExpense_c20210101__20211231_zgiMRWzAerrj" title="Research and development expense"><ix:nonFraction name="us-gaap:ResearchAndDevelopmentExpense" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,621,000</ix:nonFraction></span> and $<span id="xdx_90C_eus-gaap--ResearchAndDevelopmentExpense_c20200101__20201231_zNNUYc42ylM9" title="Research and development expense"><ix:nonFraction name="us-gaap:ResearchAndDevelopmentExpense" contextRef="From2020-01-012020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,680,000</ix:nonFraction></span>, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:FairValueOfFinancialInstrumentsPolicy"><p id="xdx_84D_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zTARt8maYPfd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_zvkfvLhL2fAg">Fair
Value of Financial Instruments</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company uses various inputs in determining the fair value of its financial assets and liabilities and measures these assets on a recurring
basis. Financial assets recorded at fair value are categorized by the level of subjectivity associated with the inputs used to measure
their fair value. ASC 820 defines the following levels of subjectivity associated with the inputs:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
1&#8212;Quoted prices in active markets for identical assets or liabilities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
2&#8212;Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
3&#8212;Unobservable inputs based on the Company&#8217;s assumptions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
carrying amounts of financial assets and liabilities, such as cash, accounts receivable, accounts payable and accrued liabilities, and
patent purchase obligation approximate their fair values because of the short maturity of these instruments. The carrying values of loan
and note payables approximate their fair values because interest rates on these obligations are based on prevailing market interest rates.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock"><p id="xdx_84D_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zQiaCu3k6wW9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_z6wzae1wBuQ9">Recent
Accounting Pronouncements</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
September 2016, the FASB issued ASU 2016-13, <i>Measurement of Credit Losses on Financial Instruments</i>. ASU 2016-13 requires entities
to use a forward-looking approach based on current expected credit losses (&#8220;CECL&#8221;) to estimate credit losses on certain types
of financial instruments, including trade receivables. This may result in the earlier recognition of allowances for losses. ASU 2016-13
is effective for the Company beginning January 1, 2023, and early adoption is permitted. The Company does not believe the potential impact
of the new guidance and related codification improvements will be material to its financial position, results of operations and cash
flows.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
August 2020, the FASB issued ASU No. 2020-06 (&#8220;ASU 2020-06&#8221;) &#8220;Debt&#8212;Debt with Conversion and Other Options (Subtopic
470-20) and Derivatives and Hedging&#8212;Contracts in Entity&#8217;s Own Equity (Subtopic 815-40).&#8221; ASU 2020-06 reduces the number
of accounting models for convertible debt instruments by eliminating the cash conversion and beneficial conversion models. The diluted
net income per share calculation for convertible instruments will require the Company to use the if-converted method. For contracts in
an entity&#8217;s own equity, the type of contracts primarily affected by this update are freestanding and embedded features that are
accounted for as derivatives under the current guidance due to a failure to meet the settlement conditions of the derivative scope exception.
This update simplifies the related settlement assessment by removing the requirements to (i) consider whether the contract would be settled
in registered shares, (ii) consider whether collateral is required to be posted, and (iii) assess shareholder rights. ASU 2020-06 is
effective January 1, 2024, for the Company and the provisions of this update can be adopted using either the modified retrospective method
or a fully retrospective method. Early adoption is permitted, but no earlier than January 1, 2021, including interim periods within that
year. Effective January 1, 2021, the Company early adopted ASU 2020-06 and that adoption did not have an impact on our financial statements
and related disclosures.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
recent accounting pronouncements issued by the FASB, its Emerging Issues Task Force, the American Institute of Certified Public Accountants,
and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company&#8217;s
present or future financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:ConcentrationRiskCreditRisk"><p id="xdx_848_eus-gaap--ConcentrationRiskCreditRisk_zFWt5sNIYPN9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_zQnBjigRjmpe">Concentration
Risks</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
includes cash on hand and cash in banks and are reported as &#8220;Cash&#8221; in the balance sheets. The balance of cash on hand is
not insured by the Federal Deposit Insurance Corporation. The balance of cash in banks is insured by the Federal Deposit Insurance Corporation
for up to $<span id="xdx_904_eus-gaap--CashFDICInsuredAmount_iI_c20211231_zIdrODhriBqb" title="Cash, FDIC insured amount"><ix:nonFraction name="us-gaap:CashFDICInsuredAmount" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">250,000</ix:nonFraction></span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company performs a regular review of customer activity and associated credit risks and does not require collateral or other arrangements.
One customer accounted for <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_uPure_c20210101__20211231__srt--MajorCustomersAxis__custom--OneCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember_zgcHyzkP9nxa" title="Concentration risk, percentage"><ix:nonFraction name="us-gaap:ConcentrationRiskPercentage1" contextRef="From2021-01-012021-12-31_custom_OneCustomerMember_us-gaap_CustomerConcentrationRiskMember_us-gaap_RevenueFromContractWithCustomerMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">45</ix:nonFraction>%</span> of the Company&#8217;s sales during the year ended December 31, 2021, and one customer accounted for <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_uPure_c20200101__20201231__srt--MajorCustomersAxis__custom--OneCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember_zE1ueA27ISMi" title="Concentration risk, percentage"><ix:nonFraction name="us-gaap:ConcentrationRiskPercentage1" contextRef="From2020-01-012020-12-31_custom_OneCustomerMember_us-gaap_CustomerConcentrationRiskMember_us-gaap_RevenueFromContractWithCustomerMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">92</ix:nonFraction>%</span>
of the Company&#8217;s sales during the year ended December 31, 2020.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s currently uses one vendor to manufacturing the majority of its products, including products developed for the Company&#8217;s
research and development activities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:SegmentReportingPolicyPolicyTextBlock"><p id="xdx_841_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zAVzzP660aEi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_z4fHP3Ut0WC9">Segment
Reporting</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company operates in one segment for the manufacture and distribution of our products. In accordance with the &#8220;Segment Reporting&#8221;
Topic of the ASC, the Company&#8217;s chief operating decision maker has been identified as the Chief Executive Officer and President,
who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing
guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information
quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the
entity holds material assets and reports revenue. All material operating units qualify for aggregation under &#8220;Segment Reporting&#8221;
due to their similar customer base and similarities in: economic characteristics; nature of products and services; and procurement, manufacturing
and distribution processes. Since the Company operates in one segment, all financial information required by &#8220;Segment Reporting&#8221;
can be found in the accompanying financial statements.</span></p>

</ix:nonNumeric><p id="xdx_853_zplAHam940L6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<ix:exclude><!-- Field: Page; Sequence: 101; Value: 2 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></td></tr></table></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock"><p id="xdx_80B_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zCjTcwOoIVNg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
3 &#8211; <span id="xdx_820_zqziTriN4t23">Property and Equipment</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:PropertyPlantAndEquipmentTextBlock"><p id="xdx_89D_eus-gaap--PropertyPlantAndEquipmentTextBlock_zSwYm0903YLl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property
and equipment consist of the following at December 31, 2021 and 2020:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span id="xdx_8B4_zTV9G7RHd9Y" style="display: none">Schedule of Property and Equipment</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto">
  <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_498_20211231_z35qFDs7vaM9" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_49A_20201231_zcVyxx1VadRj" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: right">&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td></tr>
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    <td style="width: 60%; text-align: left">Tools and molds</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="AsOf2021-12-31_us-gaap_ToolsDiesAndMoldsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,682,000</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
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    <td style="text-align: left">Office equipment</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="AsOf2021-12-31_us-gaap_OfficeEquipmentMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">8,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="padding-bottom: 1.5pt">Vehicles</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="AsOf2021-12-31_us-gaap_VehiclesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">45,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzP2k_ztUOm8IPVde1" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Total cost</td><td>&#160;</td>
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    <td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated depreciation and amortization</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzP2k_zCEnuCFurdxh" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,158,000</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="AsOf2020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">363,000</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8A6_z2Dxpef6WHM3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation
expense for the years ended December 31, 2021 and 2020, was $<span id="xdx_90E_eus-gaap--Depreciation_c20210101__20211231_zielv5pGqzS" title="Depreciation expenses"><ix:nonFraction name="us-gaap:Depreciation" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">299,000</ix:nonFraction></span> and $<span id="xdx_906_eus-gaap--Depreciation_c20200101__20201231_zUlsSWzwhjQc" title="Depreciation expenses"><ix:nonFraction name="us-gaap:Depreciation" contextRef="From2020-01-012020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">265,000</ix:nonFraction></span>, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="OPTI:EarnoutAndRoyaltyObligationsDisclosureTextBlock"><p id="xdx_804_ecustom--EarnoutAndRoyaltyObligationsDisclosureTextBlock_z6WHhIhwXWvg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
4 &#8211; <span id="xdx_822_zPMN8xvn105a">Earnout and Royalty Obligations</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">DisperSolar
LLC (Related Party)</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 7, 2017 (as amended on December 6, 2018), the Company and DisperSolar LLC (the &#8220;Seller&#8221;), a California limited liability
company, entered into a Patent Purchase Agreement (the &#8220;Agreement&#8221;) pursuant to which the Company acquired certain patents
(intellectual property) of the Seller. The Seller developed the patents for harvesting, transmission, spectral modification and delivery
of sunlight to shaded areas of plants. Per the Agreement, the Company was obligated to pay milestone payments, earnout payments, and
royalties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2020, the remaining purchase obligation was $<span id="xdx_905_eus-gaap--PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear_iI_c20201231__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember_zQT28AtvMikg" title="Remaining purchase obligation"><ix:nonFraction name="us-gaap:PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear" contextRef="AsOf2020-12-31_custom_DisperSolarLLCMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">100,000</ix:nonFraction></span>. During the year ended December 31, 2021, the Company paid $<span id="xdx_90D_eus-gaap--PurchaseObligation_iI_c20211231__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember_zdBMIf40b0E9" title="Purchase obligation"><ix:nonFraction name="us-gaap:PurchaseObligation" contextRef="AsOf2021-12-31_custom_DisperSolarLLCMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">100,000</ix:nonFraction></span>
of remaining purchase obligation leaving no balance remaining at December 31, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Earnout
Payments</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company is obligated to pay total <span id="xdx_908_ecustom--EarnoutPaymentsDescription_c20210101__20211231__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember__srt--StatementScenarioAxis__custom--EarnoutPaymentsMember_zOKGVsLEFXFd" title="Earnout payments, description"><ix:nonNumeric contextRef="From2021-01-012021-12-31_custom_DisperSolarLLCMember_custom_EarnoutPaymentsMember" name="OPTI:EarnoutPaymentsDescription">earnout payments of $<span id="xdx_901_eus-gaap--PaymentsToAcquireIntangibleAssets_c20210101__20211231__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember__srt--StatementScenarioAxis__custom--EarnoutPaymentsMember_zQpPa8zCohfi" title="Payments to acquire intangible assets"><ix:nonFraction name="us-gaap:PaymentsToAcquireIntangibleAssets" contextRef="From2021-01-012021-12-31_custom_DisperSolarLLCMember_custom_EarnoutPaymentsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">800,000</ix:nonFraction></span> payable on the on-going basis at a rate of 50% of gross margin and/or
license revenue from the date of the first commercial sale of a covered product or the first receipt by Purchaser of license revenue</ix:nonNumeric></span>,
until the aggregate combined gross margin and license revenue reach $<span id="xdx_907_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn5n6_c20210101__20211231__srt--ProductOrServiceAxis__us-gaap--LicenseMember_zk6SdljwGwE2" title="Revenues"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" contextRef="From2021-01-012021-12-31_us-gaap_LicenseMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">1.6</ix:nonFraction></span> million.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Royalties</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company will pay to Seller royalties as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following
    the recognition by the Company of the first $<span id="xdx_904_eus-gaap--AdvanceRoyalties_iI_pn5n6_c20211231_ztdQqznPZuIi" title="Advance royalties"><ix:nonFraction name="us-gaap:AdvanceRoyalties" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">1.6</ix:nonFraction></span> million in aggregate combined gross margin and license revenue, and until the Company
    pays to Seller an aggregate amount in royalties of $<span id="xdx_900_eus-gaap--RoyaltyExpense_pn6n6_c20210101__20211231_z1nVfZGCHjef" title="Royalty expense"><ix:nonFraction name="us-gaap:RoyaltyExpense" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">30</ix:nonFraction></span> million, the Company shall pay to Seller royalties on sales of covered products
    at a rate of 8% of gross margin.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">&#160;</td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Once
    Purchaser has paid to Seller an aggregate amount in royalties of $<span id="xdx_906_eus-gaap--RoyaltyGuaranteesCommitmentsAmount_iI_pn6n6_c20211231_ziTXbso4dKJa" title="Royalty guarantees commitments amount"><ix:nonFraction name="us-gaap:RoyaltyGuaranteesCommitmentsAmount" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">30</ix:nonFraction></span> million, the Company shall pay to Seller royalties on sales
    of covered products at a rate of <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_uPure_c20210101__20211231__srt--ProductOrServiceAxis__us-gaap--ProductMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zyUjwILF14a2" title="Concentration risk, percentage"><ix:nonFraction name="us-gaap:ConcentrationRiskPercentage1" contextRef="From2021-01-012021-12-31_us-gaap_ProductMember_us-gaap_RevenueFromContractWithCustomerMember_us-gaap_CustomerConcentrationRiskMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">4.75</ix:nonFraction>%</span> of gross margin until the earlier of (x) such time as covered products are not covered by
    any claims of any assigned patent, and (y) the date of the consummation of a Strategic Transaction.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2021 and December 31, 2020, the Company recorded no earnout or royalties payment obligations as no gross margin was realized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<ix:exclude><!-- Field: Page; Sequence: 102; Value: 2 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></td></tr></table></div>
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    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Strategic
Transaction</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company will pay to Seller <span id="xdx_90D_ecustom--PercentageOfConsiderationReceived_iI_pid_dp_uPure_c20211231__srt--ProductOrServiceAxis__us-gaap--LicenseMember_zpCu1Aswlll6" title="Percentage of consideration received"><ix:nonFraction name="OPTI:PercentageOfConsiderationReceived" contextRef="AsOf2021-12-31_us-gaap_LicenseMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">7.6</ix:nonFraction>%</span> of all license consideration received by the Company until the date of the consummation of a Strategic
Transaction. &#8220;Strategic Transaction&#8221; means a transaction or a series of related transactions that results in an acquisition
of the Company by a third party, including by way of merger, purchase of capital stock or purchase of assets or change of control or
otherwise.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Strategic
Transaction Consideration. &#8220;Strategic Transaction Consideration&#8221; means any cash consideration and the fair market value of
any non-cash consideration paid to the Company by any acquirer as consideration for the Strategic Transaction, less the costs and expenses
incurred by Purchaser for the purpose of consummating the Strategic Transaction. The Company will pay to Seller a percentage of all license
consideration received by Purchaser as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_ecustom--PercentageOfConsiderationReceived_iI_pid_uPure_c20211231__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember__srt--RangeAxis__srt--MinimumMember_zlCRez1giEBe" title="Percentage of consideration received"><ix:nonFraction name="OPTI:PercentageOfConsiderationReceived" contextRef="AsOf2021-12-31_custom_DisperSolarLLCMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">3.8</ix:nonFraction>%</span>
    of the first $<span id="xdx_907_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20211231__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember__srt--RangeAxis__srt--MinimumMember_zbZ2ylUkh5Yk" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2021-12-31_custom_DisperSolarLLCMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">50</ix:nonFraction></span> million of the Strategic Transaction Consideration;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_ecustom--PercentageOfConsiderationReceived_iI_pid_uPure_c20211231__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember_zTHqsifJvFA8" title="Percentage of consideration received"><ix:nonFraction name="OPTI:PercentageOfConsiderationReceived" contextRef="AsOf2021-12-31_custom_DisperSolarLLCMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">5.7</ix:nonFraction>%</span>
    of the next $<span id="xdx_908_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20211231__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember_z6c5JwLvDpVc" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2021-12-31_custom_DisperSolarLLCMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">100</ix:nonFraction></span> million of the Strategic Transaction Consideration (i.e. over $<span id="xdx_901_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20211231__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember__srt--RangeAxis__srt--MinimumMember_zLiLq1K2Zicc" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2021-12-31_custom_DisperSolarLLCMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">50</ix:nonFraction></span> million and up to $<span id="xdx_900_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20211231__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember__srt--RangeAxis__srt--MaximumMember_z6hdeso91Xwi" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2021-12-31_custom_DisperSolarLLCMember_srt_MaximumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">150</ix:nonFraction></span> million);</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_ecustom--PercentageOfConsiderationReceived_iI_pid_uPure_c20211231__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember__srt--RangeAxis__srt--MaximumMember_za2uinT7fsY5" title="Percentage of consideration received"><ix:nonFraction name="OPTI:PercentageOfConsiderationReceived" contextRef="AsOf2021-12-31_custom_DisperSolarLLCMember_srt_MaximumMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">7.6</ix:nonFraction>%</span>
    of Strategic Transaction Consideration over $<span id="xdx_906_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20211231__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember__srt--RangeAxis__srt--MaximumMember_zDXCLsdavXHi" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2021-12-31_custom_DisperSolarLLCMember_srt_MaximumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">150</ix:nonFraction></span> million.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Inventor
Royalty (Related Party)</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July 5, 2019, the Company and Nicholas Booth (&#8220;Mr. Booth&#8221;) entered into a Royalty Agreement. Mr. Booth is a member of Dispersolar,
LLC and a named inventor of the acquired patents from Dispersolar, LLC discussed above. Effective July 1, 2021, Mr. Booth was employed
by the Company as its Chief Technology Officer.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company will pay Mr. Booth a percentage of all License Consideration received by the Company as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
Once the Company has paid to DisperSolar an aggregate amount in royalties of $<span id="xdx_90E_eus-gaap--RoyaltyExpense_pn6n6_c20210101__20211231__srt--TitleOfIndividualAxis__custom--MrBoothMember_zhjaVFZsDRQa" title="Royalty expense"><ix:nonFraction name="us-gaap:RoyaltyExpense" contextRef="From2021-01-012021-12-31_custom_MrBoothMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">30</ix:nonFraction></span> million under the Agreement, the Company will pay to
Booth a percentage of all royalties on sales of Covered Products at a rate of <span id="xdx_907_ecustom--ConcentrationRiskPercentage_pid_dp_uPure_c20210101__20211231__srt--TitleOfIndividualAxis__custom--MrBoothMember_zex45GRi9Ste" title="Concentration risk, percentage"><ix:nonFraction name="OPTI:ConcentrationRiskPercentage" contextRef="From2021-01-012021-12-31_custom_MrBoothMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">0.25</ix:nonFraction>%</span> of Gross Margin until the earlier of (x) such time
as Covered Products are not covered by any claims of any Assigned Patent, and (y) the date of the consummation of a Strategic Transaction.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Opti-Harvest will pay to Booth a percentage of all License Consideration received by Purchaser on the same terms as payable by the Company
to DisperSolar under the Agreement, except that the percentages of License Consideration due to Booth shall be as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_ecustom--PercentageOfConsiderationReceived_iI_pid_uPure_c20211231__srt--TitleOfIndividualAxis__custom--MrBoothMember__srt--ProductOrServiceAxis__us-gaap--LicenseMember_zqHTX3JKH1z6" title="Percentage of consideration received"><ix:nonFraction name="OPTI:PercentageOfConsiderationReceived" contextRef="AsOf2021-12-31_custom_MrBoothMember_us-gaap_LicenseMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">0.4</ix:nonFraction>%</span>
    of all License Consideration received by Opti-Harvest until the date of consummation of a Strategic Transaction;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_ecustom--PercentageOfConsiderationReceived_iI_pid_uPure_c20211231__srt--TitleOfIndividualAxis__custom--MrBoothMember__srt--RangeAxis__srt--MinimumMember_z1X0AYbaQOPa" title="Percentage of consideration received"><ix:nonFraction name="OPTI:PercentageOfConsiderationReceived" contextRef="AsOf2021-12-31_custom_MrBoothMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">0.2</ix:nonFraction>%</span>
    of the first $<span id="xdx_902_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20211231__srt--TitleOfIndividualAxis__custom--MrBoothMember__srt--RangeAxis__srt--MinimumMember_zfkMZ7pbwkci" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2021-12-31_custom_MrBoothMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">50</ix:nonFraction></span> million of the Strategic Transaction Consideration;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_ecustom--PercentageOfConsiderationReceived_iI_pid_uPure_c20211231__srt--TitleOfIndividualAxis__custom--MrBoothMember_zWuNO0DHCpSe" title="Percentage of consideration received"><ix:nonFraction name="OPTI:PercentageOfConsiderationReceived" contextRef="AsOf2021-12-31_custom_MrBoothMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">0.3</ix:nonFraction>%</span>
    of the next $<span id="xdx_904_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20211231__srt--TitleOfIndividualAxis__custom--MrBoothMember_z3gxbwO38fdj" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2021-12-31_custom_MrBoothMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">100</ix:nonFraction></span> million of the Strategic Transaction Consideration (i.e. over $<span id="xdx_90A_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20211231__srt--TitleOfIndividualAxis__custom--MrBoothMember__srt--RangeAxis__srt--MinimumMember_zT5iCorP5g4" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2021-12-31_custom_MrBoothMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">50</ix:nonFraction></span> million and up to $<span id="xdx_90C_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20211231__srt--TitleOfIndividualAxis__custom--MrBoothMember__srt--RangeAxis__srt--MaximumMember_zNs33Us7Wtyl" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2021-12-31_custom_MrBoothMember_srt_MaximumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">150</ix:nonFraction></span> million); and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_ecustom--PercentageOfConsiderationReceived_iI_pid_dp_uPure_c20211231__srt--TitleOfIndividualAxis__custom--MrBoothMember__srt--RangeAxis__srt--MaximumMember_zyjwkS5Ve5c8" title="Percentage of consideration received"><ix:nonFraction name="OPTI:PercentageOfConsiderationReceived" contextRef="AsOf2021-12-31_custom_MrBoothMember_srt_MaximumMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">0.4</ix:nonFraction>%</span>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2021 and December 31, 2020, no amounts were due for earnouts or royalties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Both
Yosepha Shahak Ravid and Nicholas Booth are members of the Seller, and are named inventors of the acquired patents from the Seller, discussed
above. Effective July 1, 2021, Ms. Shahak Ravid, our Chief Science Officer, and Mr. Booth, our Chief Technology Officer, were employed
by the Company.</span></p>
<!-- Field: Split-Segment; Name: 001 -->
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="OPTI:SeniorConvertibleNotesPayableAndWarrantsTextBlock"><p id="xdx_80D_ecustom--SeniorConvertibleNotesPayableAndWarrantsTextBlock_zUdLXGm2gG9f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
5 &#8211; <span id="xdx_82F_zthtnrNTAlZf">Senior Convertible Notes Payable and Warrants</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:ScheduleOfDebtTableTextBlock"><p id="xdx_892_eus-gaap--ScheduleOfDebtTableTextBlock_zAe8QWWhYGxk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Senior
convertible notes payable is comprised of the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zVSyICu0i8s3" style="display: none">Schedule
of Senior Convertible Notes Payable</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_498_20211231__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorNotesMember_zwb3KfH4VQB8" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_490_20201231__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorNotesMember_zeKBgQWiE1M6" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr id="xdx_409_ecustom--ConvertibleNotesPayableGross_iI_maCNPCze0i_zPk6fYgV7ue2" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 60%; text-align: left">Senior convertible notes payable</td><td style="width: 2%">&#160;</td>
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    <td style="text-align: left; padding-bottom: 1.5pt">Less debt discount</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:DebtInstrumentUnamortizedDiscountCurrent" contextRef="AsOf2021-12-31_us-gaap_SeniorNotesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,326,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0596">-</span></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
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    <td style="text-align: left; padding-bottom: 2.5pt">Total senior convertible notes payable, net</td><td style="padding-bottom: 2.5pt">&#160;</td>
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</ix:nonNumeric><p id="xdx_8A4_zUgMl0ZT9SV4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the Company sold approximately $<span id="xdx_90B_eus-gaap--NotesIssued1_c20210101__20211231__us-gaap--LongtermDebtTypeAxis__custom--SeniorConvertiblePromissoryNotesMember_zgWsa5gDKk7k" title="Notes issued"><ix:nonFraction name="us-gaap:NotesIssued1" contextRef="From2021-01-012021-12-31_custom_SeniorConvertiblePromissoryNotesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,591,000</ix:nonFraction></span> of Senior Convertible Promissory Notes (the &#8220;Notes&#8221;)
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discount of <span id="xdx_905_eus-gaap--DebtInstrumentRedemptionPricePercentage_pid_dp_c20210101__20211231_zmvHu6kzFH0g" title="Original issue discount"><ix:nonFraction name="us-gaap:DebtInstrumentRedemptionPricePercentage" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">15</ix:nonFraction></span>%, or $<span id="xdx_908_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20211231_zKgXXGyRBrO7" title="Unamortized discount"><ix:nonFraction name="us-gaap:DebtInstrumentUnamortizedDiscount" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">539,000</ix:nonFraction></span>, and legal fees of $<span id="xdx_904_eus-gaap--ProfessionalFees_c20210101__20211231__us-gaap--LongtermDebtTypeAxis__custom--SeniorConvertiblePromissoryNotesMember_zA7lIEF6Vm2a" title="Legal fees"><ix:nonFraction name="us-gaap:ProfessionalFees" contextRef="From2021-01-012021-12-31_custom_SeniorConvertiblePromissoryNotesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">18,000</ix:nonFraction></span>, which was recorded as a debt discount. Each Warrant is exercisable at a price
(the &#8220;Exercise Price&#8221;) equal to <span id="xdx_90C_ecustom--WarrantsExercisablePricePercentage_pid_dp_c20210101__20211231_ziW7YOUQuxN4" title="Warrant exercisable price percent"><ix:nonFraction name="OPTI:WarrantsExercisablePricePercentage" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">115</ix:nonFraction></span>% of its initial public offering price estimated to be $<span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zOLPN3OclZdb" title="Exercise price of warrants"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2021-12-31_us-gaap_IPOMember_custom_ConvertiblePromissoryNotesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">6.00</ix:nonFraction></span> per share. The Company determined
the fair value of the Warrants to be approximately $<span id="xdx_90A_eus-gaap--FairValueAdjustmentOfWarrants_pn5n6_c20210101__20211231_zPQjOzWmc8xg" title="Fair value warrants"><ix:nonFraction name="us-gaap:FairValueAdjustmentOfWarrants" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">13.6</ix:nonFraction></span> million of which the relative fair value of $<span id="xdx_90B_eus-gaap--LongTermDebtFairValue_iI_pn5n6_c20211231_zGivgO7oQvVf" title="Debt fair value"><ix:nonFraction name="us-gaap:LongTermDebtFairValue" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">2.5</ix:nonFraction></span> million was allocated and recorded
as a component of debt discount. The fair value of the Warrants was determined using a Black-Scholes-Merton option pricing model with
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exercise price at $<span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20211231_z9YtIJMuvVEb" title="Exercise price"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">6.90</ix:nonFraction></span> (<span id="xdx_90D_ecustom--ExercisableWarrantPercentageAmount_pid_dp_c20210101__20211231_zN4RSs92qBih" title="Exercisable warrant percentage amount"><ix:nonFraction name="OPTI:ExercisableWarrantPercentageAmount" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">115</ix:nonFraction></span>% of estimated initial public offering price), expected term of <span id="xdx_90E_ecustom--EquitySecuritiesFvNiMeasurementInputTerm_dtY_c20210101__20211231_z5mRifXPqAre" title="Expected term"><ix:nonNumeric contextRef="From2021-01-012021-12-31" format="ixt-sec:duryear" name="OPTI:EquitySecuritiesFvNiMeasurementInputTerm">3.0</ix:nonNumeric></span> years, volatility of <span id="xdx_90D_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_uPure_c20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zhcMpOqFTLv7" title="Volatility"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-12-31_us-gaap_MeasurementInputPriceVolatilityMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">110</ix:nonFraction></span>%, dividend rate
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
holder of the Warrants shall have the right to purchase up to the number of shares that equals the quotient obtained by dividing: (i)
the Warrant Coverage Amount, by (ii) the Conversion Price. The &#8220;Warrant Coverage Amount&#8221; shall mean the amount obtained by
multiplying: (A) one hundred percent (100%); by (B) aggregate principal amount of the Holder&#8217;s Note(s). The conversion price in
effect on any Conversion Date shall be equal to <span id="xdx_907_ecustom--CommonStockPercentageAmount_pid_dp_c20210101__20211231_zyDAmGXQdxQi" title="Common stock percentage amount"><ix:nonFraction name="OPTI:CommonStockPercentageAmount" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">80</ix:nonFraction></span>% of the offering price per share of common stock in our initial public offering.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
Note is convertible, in the sole discretion of the holder of the Note, into shares of our common stock at a purchase price equal to <span id="xdx_908_ecustom--CommonStockPercentageAmount_pid_dp_c20210101__20211231_ztu1VjcfoHg4" title="Common stock percentage amount"><ix:nonFraction name="OPTI:CommonStockPercentageAmount" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">80</ix:nonFraction></span>%
of the offering price of the initial public offering price estimated to be $<span id="xdx_904_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputCommodityMarketPriceMember_zqcNpXaL8PDj" title="Stock price"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-12-31_us-gaap_MeasurementInputCommodityMarketPriceMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">6.00</ix:nonFraction></span> per share. Each Note, issued at an original issue discount
of <span id="xdx_90F_eus-gaap--DebtInstrumentRedemptionPricePercentage_pid_dp_uPure_c20210101__20211231_zI3rxg9pbGn2" title="Original issue discount"><ix:nonFraction name="us-gaap:DebtInstrumentRedemptionPricePercentage" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">15</ix:nonFraction></span>%, carries interest at a rate of <span id="xdx_904_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_c20211231_zL6sJkXaQTea" title="Interest rate"><ix:nonFraction name="us-gaap:DebtWeightedAverageInterestRate" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">12</ix:nonFraction></span>% per annum, and any interest payable under the Note shall automatically accrue and be capitalized
to the principal amount of the Note, and shall thereafter be deemed to be a part of the principal amount of the Note, unless such interest
is paid in cash on or prior to the maturity date of the Note.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Notes mature <span id="xdx_905_eus-gaap--LongTermDebtTerm_iI_dtM_c20211231_zGSo2KmtS2Ih" title="Mature month"><ix:nonNumeric contextRef="AsOf2021-12-31" format="ixt-sec:durmonth" name="us-gaap:LongTermDebtTerm">12</ix:nonNumeric></span> months from the date of the Notes, provided, however, that noteholders have the right to call the Notes prior to maturity
starting from the earlier of (i) the consummation of the first underwritten public offering pursuant to an effective registration statement
under the Securities Act of 1933, as amended, covering the offer and sale by the Company of not less than $<span id="xdx_901_eus-gaap--DebtAndEquitySecuritiesGainLoss_pn6n6_c20210101__20211231_zXVgOePsjTVa" title="Equity securities"><ix:nonFraction name="us-gaap:DebtAndEquitySecuritiesGainLoss" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">10</ix:nonFraction></span> million of its equity securities,
as a result of or following which common stock shall be listed on the Nasdaq Stock Market, and (ii) <span id="xdx_904_eus-gaap--DebtInstrumentDescription_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z11tciHuzMH3" title="Debt instrument description"><ix:nonNumeric contextRef="From2021-01-012021-12-31_us-gaap_WarrantMember21114875" name="us-gaap:DebtInstrumentDescription">December 15, 2021. Additionally,
each Warrant contains a cashless exercise provision, which is effective if the shares underlying the Warrant are not covered by a registration
statement 6 months from the date of issuance of the Warrant.</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eus-gaap--ClassOfWarrantOrRightReasonForIssuingToNonemployees_c20210101__20211231_zuhOckzqGwpi" title="Class of warrant or right reason for issuing, description"><ix:nonNumeric contextRef="From2021-01-012021-12-31" name="us-gaap:ClassOfWarrantOrRightReasonForIssuingToNonemployees">The
shares of common stock underlying the Notes and the Warrants are subject to registration rights, and such shares must be registered within
90 days after the effectiveness of the Company&#8217;s initial public offering. If the Company fails to register the shares within 90
days, the Company agreed to pay a penalty of a cash payment equal to 0.02857% of the principal amount and interest due and owing under
any Note held by the Holder or that number shares of common stock of the Company equal 1% of the shares of common stock underlying any
Note and Warrant held by the Holder, in total amount per week paid in, whichever is greater.</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
Note and Warrant holder has (i) the right of first refusal to purchase up to <span id="xdx_906_ecustom--PercentageOfProrataSecurities_pid_dp_c20210101__20211231_zr07BfxHnhR4" title="Percentage of prorata securities"><ix:nonFraction name="OPTI:PercentageOfProrataSecurities" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">20</ix:nonFraction></span>% of its pro rata share of new securities the that company
offers, which right expires upon the consummation of an underwritten initial public offering by the Company or a change in control of
the Company, and (ii) the right to be repaid any and all principal and interest due by the Company from any and all proceeds resulting
from any sale of assets and any sale and issuance of debt or equity securities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Both
the original issue discount of $<span id="xdx_90C_eus-gaap--CommonStockDiscountOnShares_iI_c20211231_zFgQGSenqvAi" title="Original issue discount"><ix:nonFraction name="us-gaap:CommonStockDiscountOnShares" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">539,000</ix:nonFraction></span>, legal fees of $<span id="xdx_906_eus-gaap--ProfessionalFees_c20210101__20211231_zPpunWiMCa3a" title="Legal fees"><ix:nonFraction name="us-gaap:ProfessionalFees" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">18,000</ix:nonFraction></span>, and the allocated relative fair value of warrants issued of $<span id="xdx_90E_eus-gaap--StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants_pn5n6_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zVD4PBQ7QoL8" title="Fair value of warrants issued"><ix:nonFraction name="us-gaap:StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants" contextRef="From2021-01-012021-12-31_us-gaap_WarrantMember21114875" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">2.5</ix:nonFraction></span> million,
or an aggregate of $<span id="xdx_907_eus-gaap--StockIssued1_pn5n6_c20210101__20211231_zZ7AHZL2TNfi" title="Debt discount stock issued"><ix:nonFraction name="us-gaap:StockIssued1" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">3.0</ix:nonFraction></span> million, were capitalized and recorded as a debt discount and are amortized over the remaining life of the Notes.
Amortization of debt discount was $<span id="xdx_903_eus-gaap--AmortizationOfDebtDiscountPremium_c20210101__20211231_zOOj1AWSqEJb" title="Amortization of debt discount"><ix:nonFraction name="us-gaap:AmortizationOfDebtDiscountPremium" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">713,000</ix:nonFraction></span> for the year ended December 31, 2021, leaving a remaining unamortized debt discount balance
of $<span id="xdx_900_eus-gaap--AdjustmentForAmortization_pn5n6_c20210101__20211231_zb1Rnf1W1r64" title="Unamortized debt discount balance"><ix:nonFraction name="us-gaap:AdjustmentForAmortization" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">2.3</ix:nonFraction></span> million as of December 31, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the years ended December 31, 2021, the Company added $<span id="xdx_901_eus-gaap--InterestPayableCurrent_iI_c20211231_zHYik2cwJ5d4" title="Accrued interest"><ix:nonFraction name="us-gaap:InterestPayableCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">101,000</ix:nonFraction></span> of accrued interest, leaving an accrued interest balance of $<span id="xdx_909_eus-gaap--AccruedLiabilitiesCurrent_iI_c20211231_zlh6vvFV63te" title="Accrued interest"><ix:nonFraction name="us-gaap:AccruedLiabilitiesCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">101,000</ix:nonFraction></span> at
December 31, 2021. Accrued interest in included in accounts payable and accrued expenses in the accompanying condensed balance sheets.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<ix:exclude><!-- Field: Page; Sequence: 104; Value: 2 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2021, <span id="xdx_90D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20210101__20211231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--SeniorNotesMember_z0CFHxjeexX2" title="Shares of common stock potentially issuable"><ix:nonFraction name="us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" contextRef="From2021-01-012021-12-31_us-gaap_SeniorNotesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">802,685</ix:nonFraction></span> shares of common stock were potentially issuable under the conversion terms of the Notes.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:DebtDisclosureTextBlock"><p id="xdx_804_eus-gaap--DebtDisclosureTextBlock_zI0Sy0gwuIud" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
6 &#8211; <span id="xdx_82A_zeMiW4ULqn4a">Note Payable</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 27, 2020, the Company was granted a loan (the &#8220;PPP loan&#8221;) from Chase Bank in the aggregate amount of $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_c20200427__us-gaap--LongtermDebtTypeAxis__us-gaap--NotesPayableToBanksMember__us-gaap--DebtInstrumentAxis__custom--PaycheckProtectionProgramLoanMember_zkieOY2h3B0g" title="Aggregate amount"><ix:nonFraction name="us-gaap:DebtInstrumentFaceAmount" contextRef="AsOf2020-04-27_us-gaap_NotesPayableToBanksMember_custom_PaycheckProtectionProgramLoanMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">38,000</ix:nonFraction></span>, pursuant
to the Paycheck Protection Program (the &#8220;PPP&#8221;) under the CARES Act. At December 31, 2020, the note payable balance was $<span id="xdx_907_eus-gaap--NotesPayable_iI_c20201231__us-gaap--LongtermDebtTypeAxis__us-gaap--NotesPayableToBanksMember__us-gaap--DebtInstrumentAxis__custom--PaycheckProtectionProgramLoanMember_zK74q174XCX8" title="Note payable"><ix:nonFraction name="us-gaap:NotesPayable" contextRef="AsOf2020-12-31_us-gaap_NotesPayableToBanksMember_custom_PaycheckProtectionProgramLoanMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">38,000</ix:nonFraction></span>.
On September 7, 2021, the Company was notified by Chase Bank that the SBA had authorized the full forgiveness of the Company&#8217;s
PPP loan. The Company recorded the full loan forgiveness as a gain on forgiveness of debt of $<span id="xdx_907_eus-gaap--DebtInstrumentDecreaseForgiveness_c20200101__20201231__us-gaap--LongtermDebtTypeAxis__us-gaap--NotesPayableToBanksMember__us-gaap--DebtInstrumentAxis__custom--PaycheckProtectionProgramLoanMember_zwBEp2to2N97" title="Gain on forgiveness of debt"><ix:nonFraction name="us-gaap:DebtInstrumentDecreaseForgiveness" contextRef="From2020-01-012020-12-31_us-gaap_NotesPayableToBanksMember_custom_PaycheckProtectionProgramLoanMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">38,000</ix:nonFraction></span>, which is reflected in other income
in the accompanying statements of operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="OPTI:LoanPayableTextBlock"><p id="xdx_804_ecustom--LoanPayableTextBlock_z890VVaN7N6k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
7 &#8211; <span>Loan payable</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span>&#160;</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_820_zm5NlhlCDoaf">Loans
payable</span>&#160;</span></p>

<ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:ScheduleOfShortTermDebtTextBlock"><p id="xdx_895_eus-gaap--ScheduleOfShortTermDebtTextBlock_zYszmR2Dqz12" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BB_zvS6hv4mfh5e" style="display: none">Schedule of Loans Payable</span>&#160;</span></p>

</ix:nonNumeric><p id="xdx_8AD_zj1LHDgBocGc" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
November 20, 2020, the Company financed the purchase of a vehicle for $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_c20201120__us-gaap--LongtermDebtTypeAxis__us-gaap--LoansPayableMember_zl4ox1gSkyQ1" title="Debt instrument face amount"><ix:nonFraction name="us-gaap:DebtInstrumentFaceAmount" contextRef="AsOf2020-11-20_us-gaap_LoansPayableMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">40,000</ix:nonFraction></span>. The loan term is for <span id="xdx_90C_eus-gaap--DebtInstrumentTerm_dtM_c20201119__20201120__us-gaap--LongtermDebtTypeAxis__us-gaap--LoansPayableMember_zlz8LbxJxjZ3" title="Loan term"><ix:nonNumeric contextRef="From2020-11-192020-11-20_us-gaap_LoansPayableMember" format="ixt-sec:durmonth" name="us-gaap:DebtInstrumentTerm">59</ix:nonNumeric></span> months, annual interest rate of
<span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20201120__us-gaap--LongtermDebtTypeAxis__us-gaap--LoansPayableMember_zwNq1oYtBCPh" title="Interest rate"><ix:nonFraction name="us-gaap:DebtInstrumentInterestRateStatedPercentage" contextRef="AsOf2020-11-20_us-gaap_LoansPayableMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">4.49</ix:nonFraction></span>%, with monthly principal and interest payments of $<span id="xdx_907_eus-gaap--DebtInstrumentPeriodicPayment_c20201119__20201120__us-gaap--LongtermDebtTypeAxis__us-gaap--LoansPayableMember_z8DMuvkMFgw1" title="Interest payments"><ix:nonFraction name="us-gaap:DebtInstrumentPeriodicPayment" contextRef="From2020-11-192020-11-20_us-gaap_LoansPayableMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">745</ix:nonFraction></span>, and <span id="xdx_903_eus-gaap--DebtInstrumentCollateral_c20201119__20201120__us-gaap--LongtermDebtTypeAxis__us-gaap--LoansPayableMember_zT1hX01JHEWe" title="Debt instrument collateral"><ix:nonNumeric contextRef="From2020-11-192020-11-20_us-gaap_LoansPayableMember" name="us-gaap:DebtInstrumentCollateral">secured by the purchased vehicle.</ix:nonNumeric></span> The loan balance was $<span id="xdx_906_eus-gaap--LoansPayable_iI_c20201231_zt3COYZXvW5f" title="Loan balance"><ix:nonFraction name="us-gaap:LoansPayable" contextRef="AsOf2020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">40,000</ix:nonFraction></span> at December
31, 2020, of which $<span id="xdx_905_eus-gaap--LoansPayableCurrent_iI_c20201231_zkoIsC4aeMOi" title="Loans payable"><ix:nonFraction name="us-gaap:LoansPayableCurrent" contextRef="AsOf2020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,000</ix:nonFraction></span> was recorded as the current portion of loans payable on the accompanying balance sheet. During the twelve months
ended December 31, 2021, the Company made principal payments of $<span id="xdx_906_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_c20211231__us-gaap--LongtermDebtTypeAxis__us-gaap--LoansPayableMember_zuSugij7vYHb" title="Principal payments"><ix:nonFraction name="us-gaap:DebtInstrumentAnnualPrincipalPayment" contextRef="AsOf2021-12-31_us-gaap_LoansPayableMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,000</ix:nonFraction></span>, leaving a loan balance of $<span id="xdx_900_eus-gaap--LoansPayable_iI_c20211231_zCg0yPxmAHOg" title="Loan balance"><ix:nonFraction name="us-gaap:LoansPayable" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">33,000</ix:nonFraction></span> at December 31, 2021, of which
$<span id="xdx_907_eus-gaap--LoansPayableCurrent_iI_c20211231_zCsoVmSL5o3f" title="Loan payable, current"><ix:nonFraction name="us-gaap:LoansPayableCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">8,000</ix:nonFraction></span> was recorded as the current portion of loan payable on the accompanying balance sheet.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:StockholdersEquityNoteDisclosureTextBlock"><p id="xdx_805_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zECHcaOnLCO4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
8 &#8211; <span>Shareholders&#8217; Equity</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span>&#160;</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_824_zutS61ZBCWHh">Shareholders&#8217;
Equity (Deficit)</span>&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following description summarizes the material terms of our capital stock.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
authorized capital stock consists of <span id="xdx_90A_eus-gaap--CommonStockSharesAuthorized_iI_c20211231_zeTXO4iiMWE4" title="Common stock, shares authorized"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">100,000,000</ix:nonFraction></span> shares of common stock, $<span id="xdx_904_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20211231_zISK6nzvKDo4" title="Common stock par value"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></span> par value, and <span id="xdx_901_eus-gaap--PreferredStockSharesAuthorized_iI_c20211231_zRri3DS0yBca" title="Preferred stock, shares authorized"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,000,000</ix:nonFraction></span> shares of preferred stock,
<span id="xdx_90D_ecustom--PreferredStockSharesDesginated_iI_c20211231__us-gaap--StatementEquityComponentsAxis__custom--SeriesAPreferredStocksMember_z3GjFtEEW52j" title="Preferred stock, shares desginated"><ix:nonFraction name="OPTI:PreferredStockSharesDesginated" contextRef="AsOf2021-12-31_custom_SeriesAPreferredStocksMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1</ix:nonFraction></span> share of which is designated as Series A preferred stock, $<span id="xdx_901_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20211231_zUZVXlNI7x3f" title="Preferred stock par value"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.0001</ix:nonFraction></span> par value. The rights, preferences and privileges of preferred stock
may be designated from time to time by our board of directors. As of December 31, 2021, there were <span id="xdx_90E_eus-gaap--CommonStockSharesIssued_iI_c20211231_zmO7cYBvd1s3" title="Common stock, shares issued"><span id="xdx_90F_eus-gaap--CommonStockSharesOutstanding_iI_c20211231_zr8TktH8yi3g" title="Common stock, shares outstanding"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">32,405,146</ix:nonFraction></ix:nonFraction></span></span> shares of our common stock
issued and outstanding and one (<span id="xdx_906_eus-gaap--PreferredStockSharesIssued_iI_c20211231__us-gaap--StatementEquityComponentsAxis__custom--SeriesAPreferredStocksMember_zHuN3IVN7VJh" title="Preferred stock, shares issued"><span id="xdx_90D_eus-gaap--PreferredStockSharesOutstanding_iI_c20211231__us-gaap--StatementEquityComponentsAxis__custom--SeriesAPreferredStocksMember_zabE7tAY0iy8" title="Preferred stock, shares outstanding"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2021-12-31_custom_SeriesAPreferredStocksMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2021-12-31_custom_SeriesAPreferredStocksMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1</ix:nonFraction></ix:nonFraction></span></span>) share of Series A preferred stock issued and outstanding. The one (1) share of Series A preferred
stock is held by Jonathan Destler, our Chief Executive Officer and director.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Undesignated
Preferred Stock</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the terms of our Certificate of Incorporation, our board of directors is authorized to issue shares of our undesignated preferred stock
in one or more series without shareholder approval. Our board of directors has the discretion to determine the rights, preferences, privileges
and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, of
each series of preferred stock.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
purpose of authorizing our board of directors to issue preferred stock and determine its rights and preferences is to eliminate delays
associated with a shareholder vote on specific issuances. The issuance of preferred stock, while providing flexibility in connection
with possible future acquisitions and other corporate purposes, will affect, and may adversely affect, the rights of holders of common
stock. It is not possible to state the actual effect of the issuance of any shares of preferred stock on the rights of holders of common
stock until our board of directors determines the specific rights attached to that preferred stock. The effects of issuing preferred
stock could include one or more of the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">restricting
    dividends on the common stock;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">diluting
    the voting power of the common stock;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">impairing
    the liquidation rights of the common stock; or</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">delaying
    or preventing changes in control or management of our company.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Once
our board of directors approves the rights and preferences for a series of preferred stock, we will file a Certificate of Designation
for such series of preferred stock with the Delaware Secretary of State formally establishing such rights and preferences.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Series
A Preferred Stock; Common Stock</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Voting</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except
as set forth below, each holder of Series A preferred stock has the same rights as holders of common stock and shall be entitled to notice
of any shareholders&#8217; meeting. They shall also be entitled to vote with the holders of common stock, and not as a separate class,
except as may otherwise be required by law. Except as set forth below, each shareholder shall be entitled to one (1) vote for each share
of stock outstanding. Except as set forth below or otherwise provided by the law of the State of Delaware, any corporate action to be
taken shall be authorized by a majority of the votes cast by the shareholders. There are no cumulative rights to voting.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
share of Series A preferred stock is entitled to the number of votes equal to 110% of the number of votes of the common stock issued
and outstanding.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally,
for as long as any shares of Series A preferred stock are outstanding, the holders of Series A preferred stock shall be entitled to elect
one director, or the Series A Director.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Protective
Provisions</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
as long as any shares of Series A preferred stock are outstanding, we must obtain the approval of at least a majority of the holders
of the outstanding shares of preferred stock, voting as a separate class, to:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amend
    our articles of incorporation or, unless approved by our board of directors, including by the Series A Director, amend our bylaws;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Change
    or modify the rights, preferences or other terms of the Series A preferred stock, or increase or decrease the number of authorized
    shares of Series A preferred stock;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclassify
    or recapitalize any outstanding equity securities, or, unless approved by our board of directors, including by the Series A Director,
    authorize or issue, or undertake an obligation to authorize or issue, any equity securities or any debt securities convertible into
    or exercisable for any equity securities (other than the issuance of stock-options or securities under any employee option or benefit
    plan);</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorize
    or effect any transaction constituting a Deemed Liquidation (as defined in this subparagraph), or any other merger or consolidation
    of the Company, where a Deemed Liquidation shall mean: (1) the closing of the sale, transfer or other disposition of all or substantially
    all of the Company&#8217;s assets (including an irrevocable or exclusive license with respect to all or substantially all of the
    Company&#8217;s intellectual property); (2) the consummation of a merger, share exchange or consolidation with or into any other
    corporation, limited liability company or other entity (except one in which the holders of capital stock of the Company as constituted
    immediately prior to such merger, share exchange or consolidation continue to hold at least 50% of the voting power of the capital
    stock of the Company or the surviving or acquiring entity (or its parent entity)), (3) authorizing or effecting any transaction liquidation,
    dissolution or winding up of the Company, either voluntary or involuntary; <i>provided, however</i>, that none of the following shall
    be considered a Deemed Liquidation: (A) a merger effected exclusively for the purpose of changing the domicile of the Company, or
    (B) a transaction or other event deemed to be exempt from the definition of a Deemed Liquidation by the holders of at least a majority
    of the then outstanding Series A preferred stock.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Increase
    or decrease the size of our board of directors as provided in our bylaws or remove the Series A Director (unless approved by our
    board of directors, including the Series A Director);</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Declare
    or pay any dividends or make any other distribution with respect to any class or series of capital stock (unless approved by our
    board of directors, including the Series A Director);</span></td></tr>
</table>

<p style="margin: 0">&#160;</p>

<p style="margin: 0"></p>

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    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="margin: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Redeem,
    repurchase or otherwise acquire (or pay into or set aside for a sinking fund for such purpose) any outstanding shares of capital
    stock (other than the repurchase of shares of common stock from employees, consultants or other service providers pursuant to agreements
    approved by our board of directors under which the Company has the option to repurchase such shares at no greater than original cost
    upon the occurrence of certain events, such as the termination of employment) (unless approved by our board of directors, including
    the Series A Director);</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Create
    or amend any stock option plan of the Company, if any (other than amendments that do not require approval of the shareholders under
    the terms of the plan or applicable law) or approve any new equity incentive plan;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Replace
    the President and/or Chief Executive Officer of the Company (unless approved by our board of directors, including the Series A Director);</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transfer
    assets to any subsidiary or other affiliated entity (unless approved by our board of directors, including the Series A Director);</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
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    or cause any subsidiary of the Company to issue, any indebtedness or debt security, other than trade accounts payable and/or letters
    of credit, performance bonds or other similar credit support incurred in the ordinary course of business, or amend, renew, increase
    or otherwise alter in any material respect the terms of any indebtedness previously approved or required to be approved by the holders
    of the Series A preferred stock (unless approved by our board of directors, including the Series A Director);</span></td></tr>

<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Modify
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    or cause a subsidiary of the Company to acquire, in any transaction or series of related transactions, the stock or any material
    assets of another person, or enter into any joint venture with any other person (unless approved by our board of directors, including
    the Series A Director); or</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    transfer, license, lease or otherwise dispose of, in any transaction or series of related transactions, any material assets of the
    Company or any subsidiary outside the ordinary course of business (unless approved by our board of directors, including the Series
    A Director).</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Dividends</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject
to the rights of the preferred shareholders set forth in &#8220;Protective Provisions&#8221;, our board of directors shall have full
power and discretion, to determine out of legally available funds what, if any, dividends or distributions shall be declared and paid.
Dividends may be paid in cash, in property, or in shares of common stock. Shares of common stock and Series A preferred stock are treated
equally and ratably, on a per share basis, with respect to any dividend or distribution from us. If a dividend is paid in the form of
shares of common stock or rights to acquire common stock, the holders of common stock and Series A preferred stock shall both receive
common stock or rights to acquire common stock. No dividends shall be declared or payable in the form of Series A preferred stock.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Liquidation
Rights</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
there is a liquidation, dissolution or winding up of the Company, holders of our common stock and Series A preferred stock would be entitled
to share in our assets remaining after the payment of liabilities equally and ratably, on a per share basis.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Conversion</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Voluntary
Conversion: Each share of Series A preferred stock shall be convertible into one fully paid and nonassessable share of common stock at
the option of the holder.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<ix:exclude><!-- Field: Page; Sequence: 107; Value: 2 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Other
Provisions</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holders
of our common stock and Series A preferred stock have no preemptive or conversion rights or other subscription rights, and there are
no redemption or sinking fund provisions applicable to the common stock or Series A preferred stock.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Common
shares issued on private offerings</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the years ended December 31, 2021 and 2020, the Company received net proceeds of $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20210101__20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zXtXykKipg3i" title="Net proceeds from common stock"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfCommonStock" contextRef="From2021-01-012021-12-31_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">5.2</ix:nonFraction></span> million and $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20200101__20201231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zTgUZCPYgB88" title="Net proceeds from common stock"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfCommonStock" contextRef="From2020-01-012020-12-31_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">2.5</ix:nonFraction></span> million on the sale of <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210101__20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zU6oHnrEGEnf" title="Shares issued"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-01-012021-12-31_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,597,500</ix:nonFraction></span>
and <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20200101__20201231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zGJwws7LLp55" title="Shares issued"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2020-01-012020-12-31_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,269,250</ix:nonFraction></span> shares of common stock, respectively, at $<span id="xdx_90E_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zsT7PD4JFN3i" title="Shares issued price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-12-31_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share, as part of its private offerings. As part of the Company&#8217;s
$<span id="xdx_901_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_ztAmObdMaRqe" title="Shares issued price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-12-31_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> private offering, each participating shareholder is entitled to a warrant to purchase up to fifty percent (50%) of the number of
common shares purchased, at $<span id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zuJ3cHGGsCha" title="Exercise price"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2021-12-31_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.00</ix:nonFraction></span> per share, and which expires on <span id="xdx_90C_ecustom--ClassOfWarrantOrRightExpirationDate_dd_c20210101__20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zLSHUFFTzoe8" title="Expiration date"><ix:nonNumeric contextRef="From2021-01-012021-12-31_us-gaap_PrivatePlacementMember" format="ixt:datemonthdayyearen" name="OPTI:ClassOfWarrantOrRightExpirationDate">December 31, 2022</ix:nonNumeric></span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Common
shares issued for services</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company entered into various consulting agreements with third parties (&#8220;Consultants&#8221;) pursuant to which these Consultants
provided business development, sales promotion, introduction to new business opportunities, strategic analysis and sales and marketing
activities. During the year ended December 31, 2021, the Company issued <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20210101__20211231__srt--TitleOfIndividualAxis__custom--ConsultantsMember_zZMnbxmh6Nfd" title="Shares issued for services"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesIssuedForServices" contextRef="From2021-01-012021-12-31_custom_ConsultantsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">851,488</ix:nonFraction></span> shares of common stock, with a fair value of $<span id="xdx_907_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_pn5n6_c20210101__20211231__srt--TitleOfIndividualAxis__custom--ConsultantsMember_ziGo6xqKumAe" title="Fair value issued for services"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueIssuedForServices" contextRef="From2021-01-012021-12-31_custom_ConsultantsMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">1.7</ix:nonFraction></span> million
at date of grant, or $<span id="xdx_90D_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20211231__srt--TitleOfIndividualAxis__custom--ConsultantsMember_zxDPtcTbu6Gc" title="Shares issued price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-12-31_custom_ConsultantsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.05</ix:nonFraction></span> per common share, to Consultants. During the year ended December 31, 2020, the Company issued <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20200101__20201231__srt--TitleOfIndividualAxis__custom--ConsultantsMember_z2g7D9K5R4w1" title="Shares issued for services"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesIssuedForServices" contextRef="From2020-01-012020-12-31_custom_ConsultantsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">57,500</ix:nonFraction></span> shares
of common stock, with a fair value of $<span id="xdx_900_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20200101__20201231__srt--TitleOfIndividualAxis__custom--ConsultantsMember_zU0PRuc8Gkve" title="Fair value issued for services"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueIssuedForServices" contextRef="From2020-01-012020-12-31_custom_ConsultantsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">115,000</ix:nonFraction></span> at date of grant, or $<span id="xdx_90D_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20201231__srt--TitleOfIndividualAxis__custom--ConsultantsMember_zcjY1QMTZu1b" title="Shares issued price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2020-12-31_custom_ConsultantsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per common share, to Consultants.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary
of Warrants</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock"><p id="xdx_89B_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_z8r3WSpfeZpc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
summary of warrants for the years ended December 31, 2021 and 2020, is as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zSEw9gAVz4p4" style="display: none">Summary
of Warrants</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: justify">&#160;</td><td>&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Exercise</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Price</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 60%; text-align: justify">Balance outstanding, December 31, 2019</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20200101__20201231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zdSfGnUz7TPb" title="Warrants, Balance outstanding" style="width: 16%; text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" contextRef="AsOf2019-12-31_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">643,750</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageGrantDateFairValue_iS_c20200101__20201231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zOqZurntcvKe" title="Weighted Average Exercise Price, Balance outstanding" style="width: 16%; text-align: right"><ix:nonFraction name="OPTI:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageGrantDateFairValue" contextRef="AsOf2019-12-31_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.00</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Warrants granted</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Warrants exercised</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_iN_di_c20200101__20201231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zDrDBfUJcr85" title="Warrants expired or forfeited" style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0769">-</span></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirationsWeightedAverageGrantDateFairValue_c20200101__20201231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zQC7d5yqLqha" title="Weighted Average Exercise Price, expired or forfeited" style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0771">-</span></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Balance outstanding, December 31, 2020</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z4BWk9t2wpN1" title="Warrants, Balance outstanding" style="text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" contextRef="AsOf2020-12-31_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,278,375</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Warrants granted</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zmvDBS08OpJh" title="Warrants granted" style="text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted" contextRef="From2021-01-012021-12-31_us-gaap_WarrantMember21114875" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,299,985</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Warrants exercised</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zVZ9ls5xaB4j" title="Warrants exercised" style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0781">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisedWeightedAverageGrantDateFairValue_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zwjxvFhndfOl" title="Weighted Average Exercise Price, exercised" style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0783">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 1.5pt">Warrants expired or forfeited</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_iN_di_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zVf68e49XHcd" title="Warrants expired or forfeited" style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0785">-</span></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirationsWeightedAverageGrantDateFairValue_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zo7Urrfyadh" title="Weighted Average Exercise Price, expired or forfeited" style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0787">-</span></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 2.5pt">Balance outstanding, December 31, 2021</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zJckG6IDtsSg" title="Warrants, Balance outstanding" style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" contextRef="AsOf2021-12-31_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">6,578,360</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageGrantDateFairValue_iE_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zt16MxQ48GT" title="Weighted Average Exercise Price, Balance outstanding" style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="OPTI:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageGrantDateFairValue" contextRef="AsOf2021-12-31_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">4.97</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 2.5pt">Balance exercisable, December 31, 2021</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingExercisableNumber_iE_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zdv1eIfjNjtc" title="Warrants, Balance exercisable" style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="OPTI:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingExercisableNumber" contextRef="AsOf2021-12-31_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">6,378,360</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableWeightedAverageGrantDateFairValue_iE_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zl0VEHquzoCh" title="Weighted Average Exercise Price, Balance exercisable" style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="OPTI:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableWeightedAverageGrantDateFairValue" contextRef="AsOf2021-12-31_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">5.00</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8A3_zhPJLFDQPaAf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="OPTI:ScheduleOfShareBasedCompensationWarrantsByExercisePriceRangeTextBlock"><p id="xdx_892_ecustom--ScheduleOfShareBasedCompensationWarrantsByExercisePriceRangeTextBlock_z19VDyDUErd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Information
relating to outstanding warrants at December 31, 2021, summarized by exercise price, is as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_z5Q7Tzns3k5b" style="display: none">Summary
of Outstanding Warrants Exercise Price</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%">
  <tr style="vertical-align: bottom">
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    <td colspan="2" style="font-weight: bold; text-align: center">&#160;</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="text-align: center; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Exercise Price Per Share</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Share</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="text-align: center; padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20211231__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceOneMember_zOd8CSdOn534" title="Exercise Price Per Share" style="width: 13%; text-align: right"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2021-12-31_custom_WarrantExercisePriceOneMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td id="xdx_985_eus-gaap--WarrantsAndRightsOutstanding_iI_c20211231__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceOneMember_zXbkYooRQUil" title="Outstanding share" style="width: 13%; text-align: right"><ix:nonFraction name="us-gaap:WarrantsAndRightsOutstanding" contextRef="AsOf2021-12-31_custom_WarrantExercisePriceOneMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">200,000</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
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    <td style="width: 1%; text-align: left">&#160;</td><td id="xdx_988_ecustom--WarrantsAndRightsExercisableOutstanding_iI_c20211231__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceOneMember_zKonEAHJeWbe" title="Exercisable share" style="width: 13%; text-align: right"><ix:nonFraction name="OPTI:WarrantsAndRightsExercisableOutstanding" contextRef="AsOf2021-12-31_custom_WarrantExercisePriceOneMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">200,000</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td id="xdx_980_eus-gaap--WarrantsAndRightsOutstanding_iI_c20211231__us-gaap--ClassOfWarrantOrRightAxis__custom--WarrantExercisePriceTwoMember_zrb2IHkY0Qjj" title="Outstanding share" style="text-align: right"><ix:nonFraction name="us-gaap:WarrantsAndRightsOutstanding" contextRef="AsOf2021-12-31_custom_WarrantExercisePriceTwoMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,587,125</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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</ix:nonNumeric><p id="xdx_8A8_zJdc9E7SSvva" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<ix:exclude><!-- Field: Page; Sequence: 108; Value: 2 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the Company issued warrants exercisable into an aggregate of <span id="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zRsFPC8r6vRa" title="Issued warrants exercisable, shares"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" contextRef="AsOf2021-12-31_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,299,985</ix:nonFraction></span> shares of common stock. The
weighted-average remaining contractual life of warrants outstanding and exercisable at December 31, 2021 was <span id="xdx_909_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTermWarrantsOutstandingAndExercisable_dtY_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zp0FdQXN8E3k" title="Weighted-average remaining contractual life"><ix:nonNumeric contextRef="From2021-01-012021-12-31_us-gaap_WarrantMember21114875" format="ixt-sec:duryear" name="OPTI:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTermWarrantsOutstandingAndExercisable">2.06</ix:nonNumeric></span> years. As of December
31, 2021, the outstanding and exercisable warrants have an intrinsic value of $<span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_pn5n6_c20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z0vDmToI2Rp9" title="Outstanding intrinsic value"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" contextRef="AsOf2021-12-31_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">8.2</ix:nonFraction></span> million and $<span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_pn5n6_c20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zyMkuQ5TwYl3" title="Exercisable intrinsic value"><ix:nonFraction name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" contextRef="AsOf2021-12-31_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">7.9</ix:nonFraction></span> million, respectively. The aggregate
intrinsic value was calculated as the difference between the estimated market value of $<span id="xdx_90E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValuePerShare_iI_pid_c20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zjYQ79u96E39" title="Estimated market value"><ix:nonFraction name="OPTI:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValuePerShare" contextRef="AsOf2021-12-31_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">6.00</ix:nonFraction></span> per share as of December 31, 2021, and the
exercise price of the outstanding warrants.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Warrants
Issued in Private Offering</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
conjunction with the sale of the common shares issued as part of the Company&#8217;s $<span id="xdx_90B_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zxG08E0GF3Da" title="Shares issued"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2021-12-31_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> private offering, each participating shareholder
is entitled to purchase up to fifty percent (50%) of the number of common shares purchased, at $<span id="xdx_908_ecustom--CommonStockSharesPurchased_iI_pid_c20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z82KjcrfseS6" title="Common shares purchased"><ix:nonFraction name="OPTI:CommonStockSharesPurchased" contextRef="AsOf2021-12-31_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.00</ix:nonFraction></span> per share. The original warrant
term of eighteen (18) months was modified by the Board on July 13, 2021, to expire on December 31, 2022. During the years ended December
31, 2021 and 2020, the Company issued warrants to purchase <span id="xdx_90A_ecustom--WarrantsToPurchaseCommonStock_iI_pid_c20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zy76qvoaSJ3f" title="Warrants to purchase, shares"><ix:nonFraction name="OPTI:WarrantsToPurchaseCommonStock" contextRef="AsOf2021-12-31_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,308,750</ix:nonFraction></span> shares and <span id="xdx_903_ecustom--WarrantsToPurchaseCommonStock_iI_pid_c20201231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zEYd9KF9mJe5" title="Warrants to purchase, shares"><ix:nonFraction name="OPTI:WarrantsToPurchaseCommonStock" contextRef="AsOf2020-12-31_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">634,625</ix:nonFraction></span> shares of common stock at an exercise price of
$<span id="xdx_903_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_iI_pid_c20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zjgZupe0oAld" title="Exercise price"><ix:nonFraction name="us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1" contextRef="AsOf2021-12-31_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.00</ix:nonFraction></span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Warrants
Issued with Senior Convertible Notes Payable</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
conjunction with the sale of senior convertible notes payable, the Company issued warrants to purchase an aggregate of <span id="xdx_907_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zWfSpEBclTrc" title="Warrants purchase"><ix:nonFraction name="us-gaap:DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1" contextRef="From2021-01-012021-12-31_us-gaap_WarrantMember21114875" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">3,591,235</ix:nonFraction></span> of its
common shares. The holder of the Warrants shall have the right to purchase up to the number of shares that equals the quotient obtained
by dividing: (i) the Warrant Coverage Amount, by (ii) the Conversion Price. The &#8220;Warrant Coverage Amount&#8221; shall mean the
amount obtained by multiplying: (A) one hundred percent (100%); by (B) aggregate principal amount of the Holder&#8217;s Note(s). The
conversion price in effect on any Conversion Date shall be equal to <span id="xdx_90C_ecustom--CommonStockPercentageAmount_pid_dp_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zhByfU7erHV9" title="Common stock percentage amount"><ix:nonFraction name="OPTI:CommonStockPercentageAmount" contextRef="From2021-01-012021-12-31_us-gaap_WarrantMember21114875" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">80</ix:nonFraction></span>% of the offering price per share of common stock in our initial
public offering. Each Warrant is exercisable at a price equal to <span id="xdx_90E_ecustom--PercentageOfWarrantsExercisable_pid_dp_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z0SVkPqwoYz6" title="Percentage of warrants exercisable"><ix:nonFraction name="OPTI:PercentageOfWarrantsExercisable" contextRef="From2021-01-012021-12-31_us-gaap_WarrantMember_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">115</ix:nonFraction></span>% of our initial public offering price (see Note 5).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Warrants
Issued under Advisory Board Agreement</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July 1, 2021, the Company entered into a three-year consulting agreement (the &#8220;Agreement&#8221;) for which the consultant is to
serve on the Company&#8217;s Advisory Board and provide services as defined in the Agreement. Per the terms of the Agreement, the Company
is to pay the consultant $<span id="xdx_900_eus-gaap--OtherExpenses_c20210629__20210702__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantsMember__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_z0oeniESg0ga" title="Other expenses"><ix:nonFraction name="us-gaap:OtherExpenses" contextRef="From2021-06-292021-07-02_custom_ConsultantsMember_custom_AdvisoryBoardAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,000</ix:nonFraction></span> per month during the first six month period of the Agreement, and the Company shall grant, as of July
1, 2021, (i) a warrant, for a term of three years, to purchase <span id="xdx_904_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20210701__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantsMember__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_zZeDBfwWM49a" title="Common stock, shares"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" contextRef="AsOf2021-07-01_custom_ConsultantsMember_custom_AdvisoryBoardAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">100,000</ix:nonFraction></span> shares of common stock, which shall vest on the date hereof, at
an exercise price of $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20210701__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantsMember__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_zjdRZFXFKVW8" title="Exercise price"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2021-07-01_custom_ConsultantsMember_custom_AdvisoryBoardAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share, (ii) a warrant, for a term of three years, to purchase <span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20211201__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantsMember__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_z8WdPg5awZZ9" title="Common stock, shares"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" contextRef="AsOf2021-12-01_custom_ConsultantsMember_custom_AdvisoryBoardAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">100,000</ix:nonFraction></span> shares of common stock, which shall
vest on December 1, 2021, at an exercise price of $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20211201__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantsMember__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_zYicwGFpbHO2" title="Exercise price"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2021-12-01_custom_ConsultantsMember_custom_AdvisoryBoardAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share, (iii) a warrant, for a term of three years, to purchase <span id="xdx_909_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20211201__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantsMember__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_zkerlGY3ZGL4" title="Common stock, shares"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" contextRef="AsOf2021-12-01_custom_ConsultantsMember_custom_AdvisoryBoardAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">100,000</ix:nonFraction></span> shares
of common stock, which shall vest on September 1, 2022, at an exercise price of $<span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20220901__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_zKj9gatGE2fe" title="Exercise price"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2022-09-01_custom_ConsultantsMember_us-gaap_SubsequentEventMember_custom_AdvisoryBoardAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">4.00</ix:nonFraction></span> per share, and (iv) a warrant, for a term of three
years, to purchase <span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20220701__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_zI4h9MxNHkka" title="Common stock, shares"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" contextRef="AsOf2022-07-01_custom_ConsultantsMember_us-gaap_SubsequentEventMember_custom_AdvisoryBoardAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">100,000</ix:nonFraction></span> shares of common stock, which shall vest on December 1, 2022, at an exercise price of $<span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20221201__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_zJbnGZgBl9g2" title="Exercise price"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2022-12-01_custom_ConsultantsMember_us-gaap_SubsequentEventMember_custom_AdvisoryBoardAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">4.00</ix:nonFraction></span> per share. The
aggregate fair value of the warrants was determined to be $<span id="xdx_900_eus-gaap--StockIssuedDuringPeriodValueEmployeeBenefitPlan_c20210629__20210702__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_zy1r2RFc2kn1" title="Fair value warrants"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueEmployeeBenefitPlan" contextRef="From2021-06-292021-07-02_custom_AdvisoryBoardAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">382,000</ix:nonFraction></span>, which was determined using a Black-Scholes-Merton option pricing
model with the following average assumption: fair value of our stock price of $<span id="xdx_906_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputCommodityMarketPriceMember__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_z8vGOFylmvw5" title="Stock price"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-12-31_us-gaap_MeasurementInputCommodityMarketPriceMember_custom_AdvisoryBoardAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">2.00</ix:nonFraction></span> per share based on recent private sales of our stock,
expected term of <span id="xdx_904_ecustom--EquitySecuritiesFvNiMeasurementInputTerm_dc_c20210101__20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_zA2QcaLYlpPa" title="Expected term"><ix:nonNumeric contextRef="From2021-01-012021-12-31_us-gaap_MeasurementInputExpectedTermMember_custom_AdvisoryBoardAgreementMember" format="ixt-sec:durwordsen" name="OPTI:EquitySecuritiesFvNiMeasurementInputTerm">five years</ix:nonNumeric></span>, volatility of <span id="xdx_902_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_z5bIvnDdCnJ7" title="Volatility"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-12-31_us-gaap_MeasurementInputOptionVolatilityMember_custom_AdvisoryBoardAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">108</ix:nonFraction></span>%, dividend rate of <span id="xdx_902_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_zgQkyY5nuCCi" title="Dividend rate"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-12-31_us-gaap_MeasurementInputExpectedDividendRateMember_custom_AdvisoryBoardAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">0</ix:nonFraction></span>%, and weighted average risk-free interest rate of <span id="xdx_905_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_zdZnpRMrL6Dc" title="Weighted average risk-free interest rate"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-12-31_us-gaap_MeasurementInputRiskFreeInterestRateMember_custom_AdvisoryBoardAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">0.25</ix:nonFraction></span>%.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the Company recognized $<span id="xdx_904_eus-gaap--AllocatedShareBasedCompensationExpense_c20210101__20211231__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_zgAVzmIp5K9g" title="Compensation expense"><ix:nonFraction name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="From2021-01-012021-12-31_custom_AdvisoryBoardAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">288,000</ix:nonFraction></span> of compensation expense relating to vested warrants. As of December
31, 2021, the aggregate amount of unvested compensation related to these warrants were approximately $<span id="xdx_901_eus-gaap--AllocatedShareBasedCompensationExpense_c20210101__20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember__us-gaap--TypeOfArrangementAxis__custom--AdvisoryBoardAgreementMember_zmG9xb4s6zj4" title="Compensation expense"><ix:nonFraction name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="From2021-01-012021-12-31_us-gaap_MeasurementInputOptionVolatilityMember_custom_AdvisoryBoardAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">93,000</ix:nonFraction></span> which will be recognized
as an expense as the warrants vest in future periods through December 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary
of Options</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2016
Stock Incentive Plan</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s 2016 Equity Incentive Plan (the &#8220;Plan&#8221;) is for officers, employees, non-employee members of the Board of
Directors, and consultants of the Company. The Plan authorized the granting of not more than <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pn6n6_c20211231__us-gaap--PlanNameAxis__custom--TwoThousandAndSixteenEquityIncentivePlanMember_znUl4WsckH1g" title="Restricted shares"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" contextRef="AsOf2021-12-31_custom_TwoThousandAndSixteenEquityIncentivePlanMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="Shares">1</ix:nonFraction></span> million restricted shares, stock appreciation
rights (&#8220;SAR&#8217;s&#8221;), and incentive and non-qualified stock options to purchase shares of the Company&#8217;s common stock.
On July 13, 2021, the Board increased the number of common shares authorized to be issued under the Company&#8217;s 2016 Equity Incentive
Plan one (<span id="xdx_90C_eus-gaap--CommonStockSharesAuthorized_iI_pn6n6_c20210713__us-gaap--PlanNameAxis__custom--TwoThousandAndSixteenEquityIncentivePlanMember__srt--RangeAxis__srt--MinimumMember_zm3wrc5cOM1l" title="Common stock, shares authorized"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2021-07-13_custom_TwoThousandAndSixteenEquityIncentivePlanMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="Shares">1</ix:nonFraction></span>) million shares to seven (<span id="xdx_90F_eus-gaap--CommonStockSharesAuthorized_iI_pn6n6_c20210713__us-gaap--PlanNameAxis__custom--TwoThousandAndSixteenEquityIncentivePlanMember__srt--RangeAxis__srt--MaximumMember_z370NbF7hiUf" title="Common stock, shares authorized"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2021-07-13_custom_TwoThousandAndSixteenEquityIncentivePlanMember_srt_MaximumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="Shares">7</ix:nonFraction></span>) million shares.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

<ix:exclude><!-- Field: Page; Sequence: 109; Value: 2 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock"><p id="xdx_893_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zXRIBd3Knk64" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
summary of stock options for the year ended December 31, 2021 is as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zGgyrmIvWSC5" style="display: none">Summary
of Options</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Options</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Options exercised</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 1.5pt">Options expired or forfeited</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 2.5pt">Balance outstanding, December 31, 2021</td><td style="padding-bottom: 2.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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</ix:nonNumeric><p id="xdx_8A1_zluAfHE5zvk8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock"><p id="xdx_89A_eus-gaap--ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_z5rWyGkNvuEk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Information
relating to outstanding options at December 31, 2021, summarized by exercise price, is as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zRfwxNSVQEva" style="display: none">Summary
of Outstanding Options Exercise Price</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
    <td colspan="2" style="font-weight: bold; text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20211231_zopd7Ny2SDnj" title="Outstanding, Weighted Average Exercise Price" style="border-bottom: Black 1.5pt solid; width: 13%; text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="width: 2%; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#160;</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20211231_zTZJj3g7n7Qh" title="Exercisable share" style="border-bottom: Black 1.5pt solid; width: 13%; text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">880,417</ix:nonFraction></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="width: 2%; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20211231_zTbj5tDRsAvf" title="Exercisable Weighted Average Exercise Price" style="border-bottom: Black 1.5pt solid; width: 13%; text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8A2_zXdjpR6PQdL5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, as discussed below, the Company approved options exercisable into <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesEmployeeBenefitPlan_c20210101__20211231_zyUdYnBNwM5b" title="Options exercisable"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesEmployeeBenefitPlan" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">4,415,000</ix:nonFraction></span> shares to be issued pursuant
to the Company&#8217;s 2016 Equity Incentive Plan. The aggregate fair value of the approved options was determined to be $<span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodValueEmployeeBenefitPlan_pn5n6_c20210101__20211231_zWXss7CbeKI8" title="Fair value"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueEmployeeBenefitPlan" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">7.6</ix:nonFraction></span> million.
During the year ended December 31, 2021, the Company recognized $<span id="xdx_90C_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20210101__20211231_zAPuvA6l7Qc1" title="Compensation expense"><ix:nonFraction name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">1.5</ix:nonFraction></span> million of compensation expense relating to vested stock options.
As of December 31, 2021, the aggregate amount of unvested compensation related to stock options was approximately $<span id="xdx_90F_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zeVSqoFfcQn9" title="Compensation expense"><ix:nonFraction name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="From2021-01-012021-12-31_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">6.1</ix:nonFraction></span> million which
will be recognized as an expense as the options vest in future periods through May 2025.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of December 31, 2021, the outstanding and exercisable options have an intrinsic value of $<span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_pn5n6_c20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zbOU1MsApXX9" title="Intrinsic value"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" contextRef="AsOf2021-12-31_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="Shares">17.7</ix:nonFraction></span> million and $<span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_pn5n6_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_z9UjoMxUVqTg" title="Intrinsic value"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised" contextRef="From2021-01-012021-12-31_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="Shares">3.5</ix:nonFraction></span> million, respectively.
The aggregate intrinsic value was calculated as the difference between the estimated market value of $<span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zCfv1y1D3zEa" title="Estimated market value"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" contextRef="AsOf2021-12-31_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">6.00</ix:nonFraction></span> per share as of December 31,
2021, and the exercise price of the outstanding options.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Issued under Executive Employment Agreements</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Chief
Executive Officer</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 21, 2021, the Company and Mr. Destler, Chief Executive Officer &#8220;(the &#8220;Executive&#8221;), entered into an amended Employment
Agreement (the &#8220;Amended Agreement&#8221;) (see Note 8).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Amended Agreement granted the Executive an option to purchase <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesEmployeeBenefitPlan_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_z5sc4gcWSmH2" title="Shares of common stock"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesEmployeeBenefitPlan" contextRef="From2021-01-012021-12-31_us-gaap_StockOptionMember_srt_ChiefExecutiveOfficerMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">4,000,000</ix:nonFraction></span> shares of common stock (the &#8220;Option Shares&#8221;) under
the Company&#8217;s 2016 Equity Incentive Plan, at an exercise price of $<span id="xdx_905_eus-gaap--SaleOfStockPricePerShare_iI_c20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zpK25dBzhCE" title="Exercise price"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2021-12-31_us-gaap_StockOptionMember_srt_ChiefExecutiveOfficerMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share, for a term to expire on <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zWAUH1vtoq92" title="Expire date"><ix:nonNumeric contextRef="From2021-01-012021-12-31_us-gaap_StockOptionMember_srt_ChiefExecutiveOfficerMember" format="ixt:datemonthdayyearen" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate">April 1, 2031</ix:nonNumeric></span>, and where
<span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesEmployeeBenefitPlan_c20210429__20210502__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zxPtQJ1lDe8a" title="Option shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesEmployeeBenefitPlan" contextRef="From2021-04-292021-05-02_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">83,333</ix:nonFraction></span> Option Shares vest monthly beginning on May 1, 2021. This option shall survive termination of the Agreement. The stock options
are exercisable at a price of $<span id="xdx_909_eus-gaap--SaleOfStockPricePerShare_iI_c20210501__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zFLiJK9J7uA2" title="Exercisable price"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2021-05-01_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share and expire in ten years. The total fair value of these options at grant date was approximately
$<span id="xdx_904_eus-gaap--StockIssuedDuringPeriodValueEmployeeBenefitPlan_pn5n6_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zkv7f2sl6NL4" title="Fair value"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueEmployeeBenefitPlan" contextRef="From2021-01-012021-12-31_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">6.8</ix:nonFraction></span> million, which was determined using a Black-Scholes-Merton option pricing model with the following average assumption: fair value
of our stock price of $<span id="xdx_903_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputCommodityMarketPriceMember__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zQoTJNYCMkyc" title="Stock price"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-12-31_us-gaap_MeasurementInputCommodityMarketPriceMember_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">2.00</ix:nonFraction></span> per share based on recent private sales of our stock, expected term of <span id="xdx_903_ecustom--EquitySecuritiesFvNiMeasurementInputTerm_dc_c20210101__20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_z1cPmeT4oyaf" title="Expected term"><ix:nonNumeric contextRef="From2021-01-012021-12-31_us-gaap_MeasurementInputExpectedTermMember" format="ixt-sec:durwordsen" name="OPTI:EquitySecuritiesFvNiMeasurementInputTerm">seven years</ix:nonNumeric></span>, volatility of <span id="xdx_904_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_z6QCYwrp6Prg" title="Volatility"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-12-31_us-gaap_MeasurementInputOptionVolatilityMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">107</ix:nonFraction></span>%, dividend
rate of <span id="xdx_902_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zsYuy2YFvt7a" title="Dividend rate"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-12-31_us-gaap_MeasurementInputExpectedDividendRateMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">0</ix:nonFraction></span>%, and weighted average risk-free interest rate of <span id="xdx_906_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zABOFgYTzaKc" title="Weighted average risk-free interest rate"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-12-31_us-gaap_MeasurementInputRiskFreeInterestRateMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">1.34</ix:nonFraction></span>%. During the year ended December 31, 2021, the Company recognized $<span id="xdx_907_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20210101__20211231__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zNH63BNKo1u4" title="Compensation expense"><ix:nonFraction name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="From2021-01-012021-12-31_srt_ChiefExecutiveOfficerMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">1.1</ix:nonFraction></span>
million of compensation expense relating to vested stock options.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Chief
Financial Officer and Director of Operations</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 17, 2021, the Company entered into an employment agreement with Steve Handy to serve as its Chief Financial Officer and Director
of Operations (the &#8220;Employment Agreement&#8221;). The term of the employment is for twelve months. Mr. Handy&#8217;s base salary
is $<span id="xdx_90C_eus-gaap--OfficersCompensation_c20210316__20210317__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember_zODo0OghWHQ3" title="Base salary"><ix:nonFraction name="us-gaap:OfficersCompensation" contextRef="From2021-03-162021-03-17_srt_ChiefFinancialOfficerMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">200,000</ix:nonFraction></span> per annum, with annual increases and bonuses at the discretion of the Board of Directors. Mr. Handy is entitled to receive
a severance payment of $<span id="xdx_909_eus-gaap--SeveranceCosts1_c20210316__20210317__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember_zJFFRfwpK4Bh" title="Severance payment"><ix:nonFraction name="us-gaap:SeveranceCosts1" contextRef="From2021-03-162021-03-17_srt_ChiefFinancialOfficerMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">100,000</ix:nonFraction></span> if terminated by the Company without cause within the first twelve months of employment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Employment Agreement granted the Executive an option to purchase <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesEmployeeBenefitPlan_c20210316__20210317__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember_zeZKbCGnXMXc" title="Shares of common stock"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesEmployeeBenefitPlan" contextRef="From2021-03-162021-03-17_us-gaap_StockOptionMember_srt_ChiefFinancialOfficerMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">300,000</ix:nonFraction></span> shares of common stock (the &#8220;Option Shares&#8221;) under
the Company&#8217;s 2016 Equity Incentive Plan, at an exercise price of $<span id="xdx_90D_eus-gaap--SaleOfStockPricePerShare_iI_uUSDPShares_c20210317__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember_zOnIHWCzSi24" title="Exercise price"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2021-03-17_us-gaap_StockOptionMember_srt_ChiefFinancialOfficerMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share, for a term to expire on <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_c20210516__20210517__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember_zdrUnZLEkqYf" title="Expire date"><ix:nonNumeric contextRef="From2021-05-162021-05-17_us-gaap_StockOptionMember_srt_ChiefFinancialOfficerMember" format="ixt:datemonthdayyearen" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate">May 17, 2026</ix:nonNumeric></span>, and where
<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesEmployeeBenefitPlan_c20210316__20210317__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember_zXjvYWttOdEc" title="Option shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesEmployeeBenefitPlan" contextRef="From2021-03-162021-03-17_srt_ChiefFinancialOfficerMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">16,666</ix:nonFraction></span> Option Shares vest monthly beginning on May 17, 2021. The stock options are exercisable at a price of $<span id="xdx_904_eus-gaap--SaleOfStockPricePerShare_iI_c20210517__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember_zLBy8JjAGfv7" title="Exercisable price"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2021-05-17_us-gaap_StockOptionMember_srt_ChiefFinancialOfficerMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share and expire
in ten years. The total fair value of these options at grant date was approximately $<span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodValueEmployeeBenefitPlan_c20210416__20210517__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember_zGUv4FEJxKq" title="Fair value"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueEmployeeBenefitPlan" contextRef="From2021-04-162021-05-17_us-gaap_StockOptionMember_srt_ChiefFinancialOfficerMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">462,000</ix:nonFraction></span>, which was determined using a Black-Scholes-Merton
option pricing model with the following average assumption: fair value of our stock price of $<span id="xdx_90B_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20210317__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputCommodityMarketPriceMember__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember_zl1d84ah5BZe" title="Stock price"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-03-17_us-gaap_MeasurementInputCommodityMarketPriceMember_srt_ChiefFinancialOfficerMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">2.00</ix:nonFraction></span> per share based on recent private
sales of our stock, expected term of <span id="xdx_905_ecustom--EquitySecuritiesFvNiMeasurementInputTerm_dc_c20210516__20210517__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember_ziJOQh8Vgkea" title="Expected term"><ix:nonNumeric contextRef="From2021-05-162021-05-17_us-gaap_MeasurementInputExpectedTermMember_srt_ChiefFinancialOfficerMember" format="ixt-sec:durwordsen" name="OPTI:EquitySecuritiesFvNiMeasurementInputTerm">five years</ix:nonNumeric></span>, volatility of <span id="xdx_900_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20210317__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember_zpFZsgyNUXVa" title="Volatility"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-03-17_us-gaap_MeasurementInputOptionVolatilityMember_srt_ChiefFinancialOfficerMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">106</ix:nonFraction></span>%, dividend rate of <span id="xdx_90C_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20210317__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember_zRlan4dSEL9g" title="Dividend rate"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-03-17_us-gaap_MeasurementInputExpectedDividendRateMember_srt_ChiefFinancialOfficerMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">0</ix:nonFraction></span>%, and weighted average risk-free interest rate
of <span id="xdx_902_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20210317__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember_zPHt8NtjLu4b" title="Weighted average risk-free interest rate"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-03-17_us-gaap_MeasurementInputRiskFreeInterestRateMember_srt_ChiefFinancialOfficerMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">0.83</ix:nonFraction></span>%. During the year ended December 31, 2021, the Company recognized $<span id="xdx_907_eus-gaap--AllocatedShareBasedCompensationExpense_c20210101__20211231__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember_zdc5J1CR9mfb" title="Compensation expense"><ix:nonFraction name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="From2021-01-012021-12-31_srt_ChiefFinancialOfficerMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">269,000</ix:nonFraction></span> of compensation expense relating to vested stock options.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Employee
Option Grants</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the Company granted its employees options to purchase an aggregate of <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesEmployeeBenefitPlan_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zHfyuBoyDOkk" title="Shares of common stock"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesEmployeeBenefitPlan" contextRef="From2021-01-012021-12-31_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">75,000</ix:nonFraction></span> shares of common stock
(the &#8220;Option Shares&#8221;) under the Company&#8217;s 2016 Equity Incentive Plan, at an exercise price of $<span id="xdx_904_eus-gaap--SaleOfStockPricePerShare_iI_c20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zeMmsRfA69C4" title="Sale of stock price"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2021-12-31_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share, with
a weighted average vesting period of 10 months. The stock options are exercisable at a price of $<span id="xdx_907_eus-gaap--SaleOfStockPricePerShare_iI_c20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zfJgRIWcXtaa" title="Sale of stock price"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2021-12-31_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share with a weighted average
expiration period of <span id="xdx_902_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2_dtY_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember__srt--TitleOfIndividualAxis__srt--OfficerMember_zKyED0Y34fTj" title="Weighted average expiration period"><ix:nonNumeric contextRef="From2021-01-012021-12-31_us-gaap_StockOptionMember_srt_OfficerMember" format="ixt-sec:duryear" name="us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2">6.67</ix:nonNumeric></span> years. The total fair value of these options at grant date was approximately $<span id="xdx_904_eus-gaap--StockIssuedDuringPeriodValueEmployeeBenefitPlan_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember__srt--TitleOfIndividualAxis__srt--OfficerMember_zFnLane8NBKe" title="Employee benefit plan"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueEmployeeBenefitPlan" contextRef="From2021-01-012021-12-31_us-gaap_StockOptionMember_srt_OfficerMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">310,000</ix:nonFraction></span>, which was determined
using a Black-Scholes-Merton option pricing model with the following weighted average assumptions: fair value of our stock price of $<span id="xdx_90D_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputCommodityMarketPriceMember__us-gaap--PlanNameAxis__custom--TwoThousandSixteenStockIncentivePlanMember_zSKrsMCHjdgd" title="Fair value measurement input"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-12-31_us-gaap_MeasurementInputCommodityMarketPriceMember_custom_TwoThousandSixteenStockIncentivePlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">4.67</ix:nonFraction></span>
per share, based on recent private sales of our stock, and more recently, based on a recent valuation report, and valuation discussions
with our underwriters pursuant to our recent initial public offering, the expected term of five years, volatility of <span id="xdx_902_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember__us-gaap--PlanNameAxis__custom--TwoThousandSixteenStockIncentivePlanMember_z9lXBw1DlDw7" title="Expected volatility"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-12-31_us-gaap_MeasurementInputOptionVolatilityMember_custom_TwoThousandSixteenStockIncentivePlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">115</ix:nonFraction></span>%, dividend rate
of <span id="xdx_905_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--PlanNameAxis__custom--TwoThousandSixteenStockIncentivePlanMember_zm4qXueogNcg" title="Dividend rate"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-12-31_us-gaap_MeasurementInputExpectedDividendRateMember_custom_TwoThousandSixteenStockIncentivePlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">0</ix:nonFraction></span>%, and risk-free interest rate of <span id="xdx_90E_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20211231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--PlanNameAxis__custom--TwoThousandSixteenStockIncentivePlanMember_zMsAoq3OfGQf" title="Risk-free interest rate"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-12-31_us-gaap_MeasurementInputRiskFreeInterestRateMember_custom_TwoThousandSixteenStockIncentivePlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">1.12</ix:nonFraction></span>%. During the year ended December 31, 2021, the Company recognized $<span id="xdx_902_eus-gaap--AllocatedShareBasedCompensationExpense_c20210101__20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--EmployeeStockMember_zJnUvEaTGdAc" title="Share based compensation expense"><ix:nonFraction name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="From2021-01-012021-12-31_us-gaap_EmployeeStockMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">61,000</ix:nonFraction></span> of compensation
expense relating to vested stock options.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Issued under Advisory Board Agreements</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
August 18, 2021 and September 24, 2021, the Company entered into a one-year consulting agreement (the &#8220;Agreement&#8221;), with
automatic annual renewals, for which the consultants are to serve on the Company&#8217;s Advisory Board and provide services as defined
in the Agreement. Per the terms of the Agreement, the Company is to pay the consultants an aggregate amount of $<span id="xdx_907_eus-gaap--OtherExpenses_c20210818__20210924__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantsMember_z6ORSBtpyOTj" title="Other expenses"><ix:nonFraction name="us-gaap:OtherExpenses" contextRef="From2021-08-182021-09-24_custom_ConsultantsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">10,000</ix:nonFraction></span> per calendar quarter
and granted the consultants aggregate options to purchase <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20210818__20210924__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantsMember_zLPcihB8CR3c" title="Number of shares issued service"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesIssuedForServices" contextRef="From2021-08-182021-09-24_custom_ConsultantsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">40,000</ix:nonFraction></span> shares of the Company&#8217;s common stock, with a five (5) year life,
vesting over a twelve (12) month period, and exercisable at $<span id="xdx_907_eus-gaap--SaleOfStockPricePerShare_iI_c20210924__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantsMember_zIVJz6Mu42yg" title="Sale of stock price"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2021-09-24_custom_ConsultantsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share. The consultant will be granted an additional aggregate <span id="xdx_900_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20210818__20210924__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantsMember_zm8QbGSsi01b" title="Number of shares sales"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2021-08-182021-09-24_custom_ConsultantsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">40,000</ix:nonFraction></span>
options to purchase shares on each automatic contract renewal period. The total fair value of these options at grant date was approximately
$<span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20210818__20210924__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantsMember_z1lMZSK5byIg" title="Number of shares issued for service"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueIssuedForServices" contextRef="From2021-08-182021-09-24_custom_ConsultantsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">53,000</ix:nonFraction></span>, which was determined using a Black-Scholes-Merton option pricing model with the following weighted average assumption: fair
value of our stock price of $<span id="xdx_905_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20210924__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputCommodityMarketPriceMember_z0eWf6NVZN5"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-09-24_us-gaap_MeasurementInputCommodityMarketPriceMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">2.00</ix:nonFraction></span> per share based on recent private sales of our stock, expected term of five years, volatility of <span id="xdx_90D_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20210924__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zJhAhSVsMmih"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-09-24_us-gaap_MeasurementInputOptionVolatilityMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">110</ix:nonFraction></span>%,
dividend rate of <span id="xdx_90A_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20210924__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zWK1RwHu5k6"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-09-24_us-gaap_MeasurementInputExpectedDividendRateMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">0</ix:nonFraction></span>%, and risk-free interest rate of <span id="xdx_906_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20210924__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zFBhEObtCI79"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2021-09-24_us-gaap_MeasurementInputRiskFreeInterestRateMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">0.90</ix:nonFraction></span>%. During the year ended December 31, 2021, the Company recognized $<span id="xdx_90A_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_c20210101__20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--EmployeeStockMember_zhKX9ZkJDOSc"><ix:nonFraction name="us-gaap:EmployeeBenefitsAndShareBasedCompensation" contextRef="From2021-01-012021-12-31_us-gaap_EmployeeStockMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">17,000</ix:nonFraction></span> of
compensation expense relating to vested stock options.</span></p>
<!-- Field: Split-Segment; Name: 002 -->
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:CommitmentsAndContingenciesDisclosureTextBlock"><p id="xdx_80D_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zD7u9bw8T5a7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
9 &#8211; <span>Commitment and Contingencies</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_828_zXmihwvQFoxl">Commitments
and Contingencies</span>&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Legal
Proceeding</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are engaged from time to time in the defense of lawsuits arising out of the ordinary course and conduct of our business. There is no
action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization
or body pending or, to the knowledge of the executive officers of our Company or our subsidiary, threatened against our Company, our
common stock, our subsidiary or of our Company or our subsidiary&#8217;s officers or directors in their capacities as such.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Kingdom
Building Consulting Agreement</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 1, 2021, the Company entered into a consulting agreement with Kingdom Building, Inc. (&#8220;KBI&#8221;). For an initial one-year
period, with automatic annual extensions thereafter, KBI will advise, counsel and inform designated officers and employees of the Company
as it relates to financial markets, competitors, business acquisitions and other aspects of or concerning the Company&#8217;s business
about which KBI has knowledge or expertise.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<ix:exclude><!-- Field: Page; Sequence: 111; Value: 2 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company agreed to pay $<span id="xdx_901_eus-gaap--ProfessionalFees_c20210401__20210401__us-gaap--TypeOfArrangementAxis__custom--KingdomBuildingConsultingAgreementMember_zfSnLpXETpsi" title="Professional fees"><ix:nonFraction name="us-gaap:ProfessionalFees" contextRef="From2021-04-012021-04-01_custom_KingdomBuildingConsultingAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,000</ix:nonFraction></span> per month, with an additional $<span id="xdx_900_ecustom--DeferredConsultingFees_c20210401__20210401__us-gaap--TypeOfArrangementAxis__custom--KingdomBuildingConsultingAgreementMember_zBcyWxT9hKNd" title="Deferred consulting fees"><ix:nonFraction name="OPTI:DeferredConsultingFees" contextRef="From2021-04-012021-04-01_custom_KingdomBuildingConsultingAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,000</ix:nonFraction></span> per month deferred until the closing of the first financing of $<span id="xdx_908_ecustom--DeferredFinancingCost_c20210401__20210401__us-gaap--TypeOfArrangementAxis__custom--KingdomBuildingConsultingAgreementMember_zSgGBTM7vN5i" title="Deferred financing cost"><ix:nonFraction name="OPTI:DeferredFinancingCost" contextRef="From2021-04-012021-04-01_custom_KingdomBuildingConsultingAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">250,000</ix:nonFraction></span>
or greater. At the closing of the financing, the amount deferred will be due in full and the monthly fee will be $<span id="xdx_90A_ecustom--MonthlyFeeForRemainingPeriod_c20210401__20210401__us-gaap--TypeOfArrangementAxis__custom--KingdomBuildingConsultingAgreementMember_zZuhXFto58Sl" title="Monthly fee for remaining period"><ix:nonFraction name="OPTI:MonthlyFeeForRemainingPeriod" contextRef="From2021-04-012021-04-01_custom_KingdomBuildingConsultingAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">10,000</ix:nonFraction></span> for the remainder
of the contract term. The Company also agreed to sell to KBI, at par value, <span id="xdx_90B_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20210401__20210401__us-gaap--TypeOfArrangementAxis__custom--KingdomBuildingConsultingAgreementMember_zdJeSc2XaSe2" title="Sale of stock number of shares, issued"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2021-04-012021-04-01_custom_KingdomBuildingConsultingAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">50,000</ix:nonFraction></span> shares of the Company&#8217;s common stock.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
the closing of an investment in the Company of at least $<span id="xdx_906_eus-gaap--ProceedsFromRelatedPartyDebt_pn6n6_c20210401__20210401__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zsSx2t8qUKR6"><ix:nonFraction name="us-gaap:ProceedsFromRelatedPartyDebt" contextRef="From2021-04-012021-04-01_us-gaap_InvestorMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">5</ix:nonFraction></span> million in gross proceeds by a third party investor, or any other funding
that may take the form of, but not be limited to, debt or other alternative financing, or the entry into a joint venture or any other
form of merger or consolidation between any other entity and the Company, the Company agreed to sell to KBI, at par value, shares of
Company common stock equal to one percent (<span id="xdx_900_ecustom--CommonStockPercentageOutstandingAmount_dp_uPure_c20210401__20210401_zhJUxTtQZEMe" title="Common stock, outstanding percentage"><ix:nonFraction name="OPTI:CommonStockPercentageOutstandingAmount" contextRef="From2021-04-012021-04-01" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">1.00</ix:nonFraction></span>%) to the Company&#8217;s fully diluted shares outstanding, and upon the closing of an
initial public offering of at least $<span id="xdx_906_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pn6n6_c20210401__20210401__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zXBR9GANYRGd"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceInitialPublicOffering" contextRef="From2021-04-012021-04-01_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">5</ix:nonFraction></span> million in gross proceeds, or any other form or merger or combination between any other entity
and the Company, the Company agreed to sell to KBI, at par value, shares of Company common stock equity to one-half percent (<span id="xdx_904_ecustom--CommonStockPercentageAmount_dp_uPure_c20210401__20210401_zHVtcrVlvww4" title="Common stock percentage amount"><ix:nonFraction name="OPTI:CommonStockPercentageAmount" contextRef="From2021-04-012021-04-01" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">0.50</ix:nonFraction></span>%) of
the Company&#8217;s fully diluted shares outstanding.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Advisory
Agreements</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July 14, 2021, the Company entered into a three-year consulting agreement (the &#8220;Agreement&#8221;) for which the consultant is to
serve on the Company&#8217;s Advisory Board and provide services as defined in the Agreement. Per the terms of the Agreement, the Company
issued <span id="xdx_90F_eus-gaap--RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings_c20210714__20210714__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_zQWokAxhjWHh" title="Restricted stock issue, shares"><ix:nonFraction name="us-gaap:RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings" contextRef="From2021-07-142021-07-14_custom_ConsultingAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">12,500</ix:nonFraction></span> restricted shares of common stock to the consultant, with a fair value at grant date was approximately $<span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20210714__20210714__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_znbiXTeaWpQ7" title="Fair value of common shares issued for services, shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesIssuedForServices" contextRef="From2021-07-142021-07-14_custom_ConsultingAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">25,000</ix:nonFraction></span>, and granted
options, contingent on the achievement of defined milestones, to purchase <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20220101__20220101__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_z8I3bn0goG57" title="Fair value of common shares issued for services, shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesIssuedForServices" contextRef="From2022-01-012022-01-01_custom_ConsultingAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">25,000</ix:nonFraction></span> shares of the Company&#8217;s common stock on January
1, 2022, options to purchase <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20220701__20220701__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zaGZDzVlmKcf" title="Fair value of common shares issued for services, shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesIssuedForServices" contextRef="From2022-07-012022-07-01_custom_ConsultingAgreementMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">30,000</ix:nonFraction></span> shares of the Company&#8217;s common stock on July 1, 2022, options to purchase <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20230101__20230101__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember__srt--StatementScenarioAxis__srt--ScenarioForecastMember_zxTRU9JfG2m6" title="Fair value of common shares issued for services, shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesIssuedForServices" contextRef="From2023-01-012023-01-01_custom_ConsultingAgreementMember_srt_ScenarioForecastMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">30,000</ix:nonFraction></span> shares of
the Company&#8217;s common stock on January 1, 2023, and options to purchase <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20230701__20230701__srt--StatementScenarioAxis__srt--ScenarioForecastMember__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_zwiC2VzGZb0j" title="Stock issuance, shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2023-07-012023-07-01_srt_ScenarioForecastMember_custom_ConsultingAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">30,000</ix:nonFraction></span> shares of the Company&#8217;s common stock on July
1, 2023. Each option shall have a term of three (<span id="xdx_90A_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_dtY_c20210714__20210714__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_z436i3FmnwSg" title="Stock option remaining contractual, term"><ix:nonNumeric contextRef="From2021-07-142021-07-14_custom_ConsultingAgreementMember" format="ixt-sec:duryear" name="us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2">3</ix:nonNumeric></span>) years, vest immediately upon grant by the Company, and be exercisable at $<span id="xdx_90B_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_iI_c20210714__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_zuvl8m8CVIh7" title="Exercise price"><ix:nonFraction name="us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1" contextRef="AsOf2021-07-14_custom_ConsultingAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per
share. No options were earned as of December 31, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
August 24, 2021, the Company entered into an advisor agreement with ICM Capital Management, LLC (&#8220;ICM&#8221;) regarding the role
and compensation of ICM in connection with transactions in which the Company, directly or indirectly through one or more affiliates,
raises debt capital or receives a loan from one or more investors identified by ICM to the Company to raise up to $<span id="xdx_902_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_c20210822__20210824__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_z8kiFkJaOLS6" title="Proceeds from related party, debt"><ix:nonFraction name="us-gaap:ProceedsFromRelatedPartyDebt" contextRef="From2021-08-222021-08-24_us-gaap_InvestorMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">2.0</ix:nonFraction></span> million. The advisor
agreement shall expire on the date specified by either ICM or the Company not less than 30 days prior to the date of termination. The
Company agreed to pay ICM a fee equal to <span id="xdx_905_eus-gaap--DebtInstrumentRedemptionPricePercentage_pid_dp_uPure_c20210822__20210824__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zc2XDalGbJQk" title="Proceeds from related party, debt"><ix:nonFraction name="us-gaap:DebtInstrumentRedemptionPricePercentage" contextRef="From2021-08-222021-08-24_us-gaap_InvestorMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">2.0</ix:nonFraction></span>% of the total principal amount of the loan to be made by an investor to the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
August 24, 2021, the Company entered into an advisor agreement with INTE Securities LLC (&#8220;INTE&#8221;) regarding the role and compensation
of INTE in connection with equity transactions in which the Company, in each case directly or indirectly through one or more affiliates,
(i) raises equity capital from one or more investors or otherwise issues the Company&#8217;s capital stock or (ii) otherwise issues instruments
convertible into the Company&#8217;s capital stock, with the principal purpose of raising capital from one or more investors identified
by INTE to the Company. The advisor agreement shall expire on the date specified by either INTE or the Company not less than 30 days
prior to the date of termination. The Company agreed to pay INTE a fee equal to <span id="xdx_90B_eus-gaap--DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed_pid_dp_uPure_c20210822__20210824__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--INTESecuritiesLLCMember_zhgoYBxV4gyb" title="Redemption price percentage, debt"><ix:nonFraction name="us-gaap:DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed" contextRef="From2021-08-222021-08-24_custom_INTESecuritiesLLCMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">4.0</ix:nonFraction></span>% of the total principal amount of the equity capital
received from an investor by the Company. The INTE fee will be fully earned and due and payable at the initial closing of such transaction
regardless of whether the capital raised is funded at the initial closing or over time. No fees were earned as of December 31, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Chief
Executive Officer Employment Agreement</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Jonathon
Destler, Chief Executive Officer</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company and Jonathan Destler entered into an Employment Agreement (the &#8220;Employment Agreement&#8221;) dated December 17, 2018, and
as amended on March 31, 2021, which provides for an annual base salary of $<span id="xdx_906_eus-gaap--SalariesWagesAndOfficersCompensation_c20210101__20211231__srt--TitleOfIndividualAxis__custom--MrDestlerMember__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember_zdkBIOvIFygd" title="Annual base salary"><ix:nonFraction name="us-gaap:SalariesWagesAndOfficersCompensation" contextRef="From2021-01-012021-12-31_custom_MrDestlerMember_custom_EmploymentAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">240,000</ix:nonFraction></span> for per annum. <span id="xdx_902_ecustom--DescriptionOfIncreaseInSalaryPercentage_c20210101__20211231__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember_zb8sHHkAoawd" title="Increase in salary employment, description"><ix:nonNumeric contextRef="From2021-01-012021-12-31_custom_EmploymentAgreementMember" name="OPTI:DescriptionOfIncreaseInSalaryPercentage">The salary will increase by 7% on November
1 of each year, based on the salary due in the year prior to each such 7% increase.</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Employment Agreement also grants to Mr. Destler an option, dated March 31, 2021, to purchase <span id="xdx_90E_ecustom--StockOptionToPurchaseCommonStock_iI_c20211231__us-gaap--TypeOfArrangementAxis__custom--EquityIncentivePlanMember_zADuuOuwwmT7" title="Stock option shares to purchase common stock"><ix:nonFraction name="OPTI:StockOptionToPurchaseCommonStock" contextRef="AsOf2021-12-31_custom_EquityIncentivePlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">4,000,000</ix:nonFraction></span> shares of common stock under the
Company&#8217;s 2016 Equity Incentive Plan, at an exercise price of $<span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20211231__us-gaap--TypeOfArrangementAxis__custom--EquityIncentivePlanMember_zMJmR8Roieib"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2021-12-31_custom_EquityIncentivePlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share, for a term to expire on <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_dd_c20210101__20211231__us-gaap--TypeOfArrangementAxis__custom--EquityIncentivePlanMember_z9klcKxANfcc" title="Stock option, expiration date"><ix:nonNumeric contextRef="From2021-01-012021-12-31_custom_EquityIncentivePlanMember" format="ixt:datemonthdayyearen" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate">April 1, 2031</ix:nonNumeric></span>, and where
<span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_c20210101__20211231__us-gaap--TypeOfArrangementAxis__custom--EquityIncentivePlanMember_z0QkFvkc8YMc"><ix:nonFraction name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" contextRef="From2021-01-012021-12-31_custom_EquityIncentivePlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">83,333</ix:nonFraction></span> shares underlying the option vest monthly, beginning on May 1, 2021 (see Note 7).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Destler shall be granted <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20210101__20211231__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__srt--TitleOfIndividualAxis__custom--MrDestlerMember_z7XTQfrQPNRc"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" contextRef="From2021-01-012021-12-31_custom_MrDestlerMember_custom_EmploymentAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,000,000</ix:nonFraction></span> shares of our common stock upon our listing of common stock on any market of the Nasdaq or New York
Stock Exchange. <span id="xdx_909_ecustom--StockOptionDescription_c20210101__20211231__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__srt--TitleOfIndividualAxis__custom--MrDestlerMember_zvdlby9jiSTd" title="Stock option, description"><ix:nonNumeric contextRef="From2021-01-012021-12-31_custom_MrDestlerMember_custom_EmploymentAgreementMember" name="OPTI:StockOptionDescription">Mr. Destler may, in his sole discretion, be granted any part of or all such 1,000,000 shares in the form of a warrant
or option, exercisable at $<span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20211231__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__srt--TitleOfIndividualAxis__custom--MrDestlerMember_zHvsAW2yA2gh"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2021-12-31_custom_EmploymentAgreementMember_custom_MrDestlerMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.001</ix:nonFraction></span> per share, for the purchase of <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210101__20211231__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__srt--TitleOfIndividualAxis__custom--MrDestlerMember_zNznMCf4eEX1"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-01-012021-12-31_custom_MrDestlerMember_custom_EmploymentAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,000,000</ix:nonFraction></span> shares of our common stock, for a term of five (<span id="xdx_905_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsTerm_dtY_c20210101__20211231__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__srt--TitleOfIndividualAxis__custom--MrDestlerMember_zWlptj4cfM59" title="Common stock, term"><ix:nonNumeric contextRef="From2021-01-012021-12-31_custom_MrDestlerMember_custom_EmploymentAgreementMember" format="ixt-sec:duryear" name="OPTI:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsTerm">5</ix:nonNumeric></span>) years. Mr.
Destler&#8217;s grant of and right to such 1,000,000 shares is conditioned upon and subject to Mr. Destler being an employee, officer
or director of the Company at the time that the Company&#8217;s shares of common stock are listed on the Nasdaq or New York Stock Exchange.</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Employment Agreement also provides for cash bonus(es), payable to Mr. Destler, equal to 10% of first $<span id="xdx_904_eus-gaap--GrossProfit_c20210101__20211231__srt--TitleOfIndividualAxis__custom--MrDestlerMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zOjsbU4jv3g9" title="Gross profit"><ix:nonFraction name="us-gaap:GrossProfit" contextRef="From2021-01-012021-12-31_custom_MrDestlerMember_us-gaap_ShareBasedCompensationAwardTrancheOneMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,000,000</ix:nonFraction></span> of our gross profits,
8% of the second $<span id="xdx_902_eus-gaap--GrossProfit_c20210101__20211231__srt--TitleOfIndividualAxis__custom--MrDestlerMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_z2V9t5IAaz6k" title="Gross profit"><ix:nonFraction name="us-gaap:GrossProfit" contextRef="From2021-01-012021-12-31_custom_MrDestlerMember_us-gaap_ShareBasedCompensationAwardTrancheTwoMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,000,000</ix:nonFraction></span> of our gross profits, 6% of the third $<span id="xdx_90E_eus-gaap--GrossProfit_c20210101__20211231__srt--TitleOfIndividualAxis__custom--MrDestlerMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_z7TgTuOMplBf" title="Gross profit"><ix:nonFraction name="us-gaap:GrossProfit" contextRef="From2021-01-012021-12-31_custom_MrDestlerMember_us-gaap_ShareBasedCompensationAwardTrancheThreeMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,000,000</ix:nonFraction></span> of our gross profits, 4% of the fourth $<span id="xdx_906_eus-gaap--GrossProfit_c20210101__20211231__srt--TitleOfIndividualAxis__custom--MrDestlerMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFourMember_z6RVcqHHywh1" title="Gross profit"><ix:nonFraction name="us-gaap:GrossProfit" contextRef="From2021-01-012021-12-31_custom_MrDestlerMember_custom_ShareBasedCompensationAwardTrancheFourMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,000,000</ix:nonFraction></span> of our
gross profits, and 2% of all of our gross profits in excess of $<span id="xdx_90E_eus-gaap--GrossProfit_c20210101__20211231__srt--TitleOfIndividualAxis__custom--MrDestlerMember__srt--RangeAxis__srt--MaximumMember_zyE9J4OE34Rl" title="Gross profit"><ix:nonFraction name="us-gaap:GrossProfit" contextRef="From2021-01-012021-12-31_custom_MrDestlerMember_srt_MaximumMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,000,000</ix:nonFraction></span>. In lieu of any cash payment due to Mr. Destler as a bonus,
Mr. Destler, may in his sole discretion, elect to receive shares of our common stock of the Company, valued at $<span id="xdx_906_eus-gaap--CommonStockDividendsPerShareCashPaid_pid_c20210101__20211231__srt--TitleOfIndividualAxis__custom--MrDestlerMember_z8W0xppOwR3l" title="Common stock, dividends per share"><ix:nonFraction name="us-gaap:CommonStockDividendsPerShareCashPaid" contextRef="From2021-01-012021-12-31_custom_MrDestlerMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.75</ix:nonFraction></span> per share.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Employment Agreement also provides for a cash fee, payable to Mr. Destler, (i) equal to <span id="xdx_90E_ecustom--PercentageOfCashFeePayable_pid_dp_uPure_c20210101__20211231__srt--TitleOfIndividualAxis__custom--MrDestlerMember_zShrHfD2ZwFc" title="Cash fee payable, percentage"><ix:nonFraction name="OPTI:PercentageOfCashFeePayable" contextRef="From2021-01-012021-12-31_custom_MrDestlerMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">3</ix:nonFraction></span>% (the &#8220;Transaction Fee&#8221;) of the
aggregate value of any sale of all or a substantial amount of the assets or the capital stock of us, any sale, merger, consolidation
or other event which results in the transfer of control of or a material interest in the Company or of all or a substantial amount of
the assets of our Company, provided, however, in no event shall the Transaction Fee be less than $<span id="xdx_90E_ecustom--LicensingTransactionFee_iI_c20211231__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__srt--RangeAxis__srt--MaximumMember_z3ZLJIeg0ab8" title="License transaction fee"><ix:nonFraction name="OPTI:LicensingTransactionFee" contextRef="AsOf2021-12-31_srt_ChiefExecutiveOfficerMember_srt_MaximumMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">750,000</ix:nonFraction></span>, and (ii) equal to <span id="xdx_90E_ecustom--PercentageOfLicensingTransactionFee_pid_dp_uPure_c20210101__20211231__srt--TitleOfIndividualAxis__custom--MrDestlerMember_zgYCW8jJWUv7" title="License transaction fee, percentage"><ix:nonFraction name="OPTI:PercentageOfLicensingTransactionFee" contextRef="From2021-01-012021-12-31_custom_MrDestlerMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">6</ix:nonFraction></span>% (the
&#8220;Licensing Transaction Fee&#8221;) of the aggregate value of any license, partnership or co-promotional agreement, joint venture,
alliance, reselling agreement, development agreement and any other such transaction in which we transfer any rights to our technology
or intellectual property where the aggregate licensing value is greater than $<span id="xdx_90B_ecustom--LicensingTransactionFee_iI_c20211231__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__srt--RangeAxis__srt--MinimumMember_zpDVfRUEXPB5" title="License transaction fee"><ix:nonFraction name="OPTI:LicensingTransactionFee" contextRef="AsOf2021-12-31_srt_ChiefExecutiveOfficerMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,000,000</ix:nonFraction></span>, provided, however, that in no event shall the
License Transaction Fee be less than $<span id="xdx_907_ecustom--LicensingTransactionFee_iI_c20211231__srt--TitleOfIndividualAxis__custom--MrDestlerMember__srt--RangeAxis__srt--MaximumMember_zEhh4XnilQzg" title="License transaction fee"><ix:nonFraction name="OPTI:LicensingTransactionFee" contextRef="AsOf2021-12-31_custom_MrDestlerMember_srt_MaximumMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">750,000</ix:nonFraction></span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Employment Agreement also obligates us to pay for Mr. Destler&#8217;s costs related to his reasonable monthly cell phone and other mobile
Internet costs, home office Internet costs, car and commuting costs not to exceed $<span id="xdx_901_eus-gaap--CostsAndExpenses_c20210101__20211231__srt--TitleOfIndividualAxis__custom--MrDestlerMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zRbaEKodqZx1" title="Costs and expenses"><ix:nonFraction name="us-gaap:CostsAndExpenses" contextRef="From2021-01-012021-12-31_custom_MrDestlerMember_us-gaap_OfficeEquipmentMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,000</ix:nonFraction></span> per month, and club membership costs, all of
which are payable not later than 10 days after the end of each month. Mr. Destler is also entitled to participate in our employee benefit
programs and provide for other customary benefits. Finally, the employment agreements prohibit the executive from engaging in certain
activities which compete with us, seek to recruit its employees, or disclose any of its trade secrets or otherwise confidential information.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Destler is entitled to receive severance benefits upon termination of employment with the Company. Mr. Destler&#8217;s entitlement to
such severance benefits shall be conditioned upon Mr. Destler&#8217;s execution and delivery to us of (i) a general release of all claims,
(ii) a resignation from all of Mr. Destler&#8217;s positions with us and (iii) an agreement not to directly or indirectly be employed
or involved with any business developing or exploiting any products or services that are competitive with products or services (a) being
commercially developed or exploited by us during Mr. Destler&#8217;s employment and (b) on which Mr. Destler worked or about which Mr.
Destler learned proprietary information or trade secrets of us during Mr. Destler&#8217;s employment with us.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
Mr. Destler voluntarily elects to terminate his employment with us other than by Mr. Destler&#8217;s resignation for good reason or if
we terminate Mr. Destler&#8217;s employment for cause, or Mr. Destler dies or becomes incapacitated or otherwise disabled in such a manner
that, in the sole determination of our board of directors, Mr. Destler cannot reasonably perform the duties to us, then Mr. Destler shall
not be entitled to receive payment of any severance benefits. Mr. Destler will receive payment for all salary and unpaid vacation accrued
as of the date of Mr. Destler&#8217;s termination of employment and Mr. Destler&#8217;s benefits will be continued solely to the extent
of our then existing benefit plans and policies in accordance with such plans and policies in effect on the date of termination.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
Mr. Destler&#8217;s employment is terminated by us without cause or by Mr. Destler&#8217;s resignation for good reason prior to or more
than 12 months after, a change of control, Mr. Destler will receive payment for all salary and unpaid vacation accrued as of the date
of Mr. Destler&#8217;s termination of employment, and, in addition, Mr. Destler will be entitled to receive the following severance benefits:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
continued payment of his base salary for a period of 12 months following the date of termination, in accordance with our normal payroll
practices;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
reimbursement of his premium cost for continuation coverage for the lesser of the first 12 months of continuation coverage or that number
of months until Mr. Destler becomes eligible for reasonably comparable benefits under any future employer&#8217;s health insurance plan,
provided Mr. Destler makes a timely election for such continuation coverage and presents reasonably requested documentation of payment
of such premiums;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)
payment of <span id="xdx_90A_ecustom--PercentageOfExecutivesCurrentYearDiscretionaryCashBonus_iI_pid_dp_uPure_c20211231__srt--TitleOfIndividualAxis__custom--MrDestlerMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zIhZ3fWtxW2h" title="Discretionary cash bonus, percentage"><ix:nonFraction name="OPTI:PercentageOfExecutivesCurrentYearDiscretionaryCashBonus" contextRef="AsOf2021-12-31_custom_MrDestlerMember_srt_ScenarioPreviouslyReportedMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">100</ix:nonFraction></span>% of Mr. Destler&#8217;s current year discretionary cash bonus;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)
accelerated vesting as to <span id="xdx_908_ecustom--PercentageOfExecutivesUnvestedOptionShares_iI_pid_dp_uPure_c20211231__srt--TitleOfIndividualAxis__custom--MrDestlerMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z5RO9wGCfBSc" title="Unvested option shares, percentage"><ix:nonFraction name="OPTI:PercentageOfExecutivesUnvestedOptionShares" contextRef="AsOf2021-12-31_custom_MrDestlerMember_srt_ScenarioPreviouslyReportedMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">50</ix:nonFraction></span>% of Mr. Destler&#8217;s then unvested option shares; and</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)
reimbursement for up to $<span id="xdx_90E_ecustom--ReimbursementExpenses_iI_c20211231__srt--TitleOfIndividualAxis__custom--MrDestlerMember__srt--RangeAxis__srt--MaximumMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zxfRmANFMuje" title="Reimbursement expenses"><ix:nonFraction name="OPTI:ReimbursementExpenses" contextRef="AsOf2021-12-31_custom_MrDestlerMember_srt_MaximumMember_srt_ScenarioPreviouslyReportedMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">100,000</ix:nonFraction></span> of expenses incurred in obtaining new employment, provided Mr. Destler submits evidence that is satisfactory
to us that the amount involved was expended and related to obtaining new employment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
Mr. Destler&#8217;s employment is terminated by us without cause or by Mr. Destler&#8217;s resignation for good reason in either case
within 12 months following a change of control, Mr. Destler will receive payment for all salary and unpaid vacation accrued as of the
date of Mr. Destler&#8217;s termination of employment, and, in addition, Mr. Destler will be entitled to receive the following severance
benefits:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
continued payment of his base salary for a period of 18 months following the date of termination, in accordance with our normal payroll
practices;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
reimbursement of his premium cost for continuation coverage for the lesser of the first 18 months of continuation coverage or that number
of months until Mr. Destler becomes eligible for reasonably comparable benefits under any future employer&#8217;s health insurance plan,
provided Mr. Destler makes a timely election for such continuation coverage and presents reasonably requested documentation of payment
of such premiums;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)
payment of <span id="xdx_908_ecustom--PercentageOfExecutivesCurrentYearDiscretionaryCashBonus_iI_pid_dp_uPure_c20211231__srt--TitleOfIndividualAxis__custom--MrDestlerMember__srt--RestatementAxis__srt--RestatementAdjustmentMember_ziD3JmsP1Tad" title="Discretionary cash bonus, percentage"><ix:nonFraction name="OPTI:PercentageOfExecutivesCurrentYearDiscretionaryCashBonus" contextRef="AsOf2021-12-31_custom_MrDestlerMember_srt_RestatementAdjustmentMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">150</ix:nonFraction></span>% of Mr. Destler&#8217;s current year discretionary cash bonus regardless of our or Mr. Destler&#8217;s achievement of
the goals referred to in his employment agreement;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)
reimbursement for up to $<span id="xdx_908_ecustom--ReimbursementExpenses_iI_c20211231__srt--TitleOfIndividualAxis__custom--MrDestlerMember__srt--RangeAxis__srt--MaximumMember__srt--RestatementAxis__srt--RestatementAdjustmentMember_zxXGzFztOsLf" title="Reimbursement expenses"><ix:nonFraction name="OPTI:ReimbursementExpenses" contextRef="AsOf2021-12-31_custom_MrDestlerMember_srt_MaximumMember_srt_RestatementAdjustmentMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">50,000</ix:nonFraction></span> of expenses incurred in obtaining new employment, provided Mr. Destler submits evidence that is satisfactory
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:IncomeTaxDisclosureTextBlock"><p id="xdx_807_eus-gaap--IncomeTaxDisclosureTextBlock_zUiMknhlg8Rl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
10 &#8211; <span id="xdx_82B_zctHGzfqHroc">Income Taxes</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
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amounts available were approximately $<span id="xdx_902_eus-gaap--CurrentFederalStateAndLocalTaxExpenseBenefit_pn5n6_c20210101__20211231_zHeeiCIkD4Og" title="Federal state and local tax, expense"><ix:nonFraction name="us-gaap:CurrentFederalStateAndLocalTaxExpenseBenefit" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">16.8</ix:nonFraction></span> million for Federal and state purposes. The carryforwards expire in various amounts through
2040. Given the Company&#8217;s history of net operating losses, management has determined that it is more likely than not that the Company
will not be able to realize the tax benefit of the carryforwards. Accordingly, the Company has not recognized a deferred tax asset for
this benefit. Section 382 generally limits the use of NOLs and credits following an ownership change, which occurs when one or more 5
percent shareholders increase their ownership, in aggregate, by more than <span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20211231__srt--RangeAxis__srt--MaximumMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SharehildersMember_zqfwPROzQTB4" title="Equity ownership, percentage" style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:EquityMethodInvestmentOwnershipPercentage" contextRef="AsOf2021-12-31_srt_MaximumMember_custom_SharehildersMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">50</ix:nonFraction></span> percentage points over the lowest percentage of stock owned
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective
January 1, 2007, the Company adopted FASB guidelines that address the determination of whether tax benefits claimed or expected to be
claimed on a tax return should be recorded in the financial statements. Under this guidance, we may recognize the tax benefit from an
uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities,
based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be
measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. This
guidance also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods
and requires increased disclosures. At the date of adoption, and as of December 31, 2021 and 2020, the Company did not have a liability
for unrecognized tax benefits, and no adjustment was required at adoption.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s policy is to record interest and penalties on uncertain tax provisions as income tax expense. As of December 31, 2021,
and 2020, the Company has not accrued interest or penalties related to uncertain tax positions. Additionally, tax years 2018 through
2021 remain open to examination by the major taxing jurisdictions to which the Company is subject.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
the attainment of taxable income by the Company, management will assess the likelihood of realizing the tax benefit associated with the
use of the carryforwards and will recognize the appropriate deferred tax asset at that time.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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Company&#8217;s effective income tax rate differs from the amount computed by applying the federal statutory income tax rate to loss
before income taxes as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_8B4_z951sEhALTvc" style="display: none; font-family: Times New Roman, Times, Serif">Schedule
of Effective Income Tax Rate</span><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_49B_20210101__20211231_z1P3ChwaD0ek" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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</ix:nonNumeric><p id="xdx_8A8_zkrSYyCn7CVc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span id="xdx_8B1_zSC4Dp2AGTN1" style="display: none; font-family: Times New Roman, Times, Serif">Schedule
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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1186">-</span></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
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</ix:nonNumeric><p id="xdx_8AC_zp6OpcfIhsge" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:RelatedPartyTransactionsDisclosureTextBlock"><p id="xdx_80A_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_z92S3P1uQQLd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
11 &#8211; <span id="xdx_829_z4PE236F64N9">Related Party Transactions</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Both
Yosepha Shahak Ravid and Nicholas Booth are members of DisperSolar LLC, a California limited liability company (&#8220;DisperSolar&#8221;),
and are named inventors of the acquired patents from Dispersolar, discussed below. Effective July 1, 2021, Ms. Shahak Ravid, our Chief
Science Officer, and Mr. Booth, our Chief Technology Officer, were employed by us.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company subleases its office space from an individual who is personally indebted to the Company&#8217;s Chief Executive Officer. During
the year ended December 31, 2021, the Company directed rent payments totaling $<span id="xdx_90E_eus-gaap--PaymentsForRent_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDestlerMember_z2CpXMZa72Mk" title="Rent payments"><ix:nonFraction name="us-gaap:PaymentsForRent" contextRef="From2021-01-012021-12-31_custom_MrDestlerMember21123640" format="ixt:numdotdecimal" decimals="0" unitRef="USD">45,000</ix:nonFraction></span> to Mr. Destler as partial repayment of the individual&#8217;s
indebtedness.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the Company reimbursed the Company&#8217;s Chief Executive Officer $<span id="xdx_906_eus-gaap--RepaymentsOfRelatedPartyDebt_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__srt--ChiefExecutiveOfficerMember_z3INhcCQ8zMl" title="Payments to related party, debt"><ix:nonFraction name="us-gaap:RepaymentsOfRelatedPartyDebt" contextRef="From2021-01-012021-12-31_srt_ChiefExecutiveOfficerMember21123656" format="ixt:numdotdecimal" decimals="0" unitRef="USD">29,000</ix:nonFraction></span> for contributions made on
behalf of the Company to certain members of the United States Congress.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 15, 2021, we entered into a consulting agreement with Mr. Klausner to provide the services to develop the Company&#8217;s financial
model and corporate finance strategy and work on such matters as may be requested from time to time by us. The term of the consulting
agreement was three months and expired on June 15, 2021. Mr. Klausner received <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20210314__20210315__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrKlausnerMember_zBuP0Qdjk2Gi" title="Stock issued for service, shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesIssuedForServices" contextRef="From2021-03-142021-03-15_custom_MrKlausnerMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">30,000</ix:nonFraction></span> shares of the Opti-Harvest Inc. common stock for
his services, estimated to have a fair value of approximately $<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20210314__20210315__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrKlausnerMember_zPGS0mAEHmA1" title="Stock issued for service, values"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueIssuedForServices" contextRef="From2021-03-142021-03-15_custom_MrKlausnerMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">60,000</ix:nonFraction></span>. On July 1, 2021, Mr. Klausner was appointed to our Board of Directors
and appointed Chairman of the Audit Committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 17, 2021, Mr. Handy was hired by us as our Chief Financial Officer and Director of Operations. Before Mr. Handy&#8217;s employment
with us, Mr. Handy provided services to us as a consultant to help us prepare for our financial statement audits and prepare our financial
statements. During the year ended December 31, 2021, and prior to his date of employment with the Company, Mr. Handy was paid approximately
$<span id="xdx_909_eus-gaap--RelatedPartyTransactionDueFromToRelatedParty_iI_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrHandyMember_zMZr8L8QoW89" title="Due from related party"><ix:nonFraction name="us-gaap:RelatedPartyTransactionDueFromToRelatedParty" contextRef="AsOf2021-12-31_custom_MrHandyMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,000</ix:nonFraction></span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<ix:exclude><!-- Field: Page; Sequence: 115; Value: 2 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aaron
Danks, son of a director of the Company, was paid for services provided to the Company. Aaron Danks was paid $<span id="xdx_90A_eus-gaap--OtherExpenses_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AaronDanksMember_znzINx2XNV0k" title="Other expenses"><ix:nonFraction name="us-gaap:OtherExpenses" contextRef="From2021-01-012021-12-31_custom_AaronDanksMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">26,000</ix:nonFraction></span> for services during
the year ended December 31, 2021. During the year ended December 31, 2020, the Company paid for Aaron Danks medical insurance premiums
of $<span id="xdx_904_eus-gaap--PremiumsReceivableAtCarryingValue_iI_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AaronDanksMember_z4oB3EWalGd7" title="Received insurance premium"><ix:nonFraction name="us-gaap:PremiumsReceivableAtCarryingValue" contextRef="AsOf2020-12-31_custom_AaronDanksMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,700</ix:nonFraction></span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
December 31, 2019, the Company had a due from related parties balance of $<span id="xdx_902_eus-gaap--DueFromRelatedParties_iI_c20191231_zIC5cAF3cHXe" title="Due from relatedParties"><ix:nonFraction name="us-gaap:DueFromRelatedParties" contextRef="AsOf2019-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">68,000</ix:nonFraction></span>. Related parties are comprised of Jonathan Destler,
the Company&#8217;s CEO, and Touchstone Advisors, Inc., a Nevada Corporation, for which Mr. Destler is the owner and president. The due
from related parties balance of $<span id="xdx_909_eus-gaap--DueFromRelatedParties_iI_c20191231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDestlerMember_zTQ3FPmdQba1" title="Due from relatedParties"><ix:nonFraction name="us-gaap:DueFromRelatedParties" contextRef="AsOf2019-12-31_custom_MrDestlerMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">68,000</ix:nonFraction></span> at December 31, 2019 represents advances to Mr. Destler and Touchstone Advisors to purchase professional
services on behalf of the Company. During the year ended December 31, 2020, $<span id="xdx_90C_eus-gaap--ProfessionalFees_c20200101__20201231_zCsdvJXsh3Nb" title="Professional services, fee"><ix:nonFraction name="us-gaap:ProfessionalFees" contextRef="From2020-01-012020-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">68,000</ix:nonFraction></span> was used to pay for professional services provided
to the Company leaving no remaining balance at December 31, 2020.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2021-01-012021-12-31" escape="true" name="us-gaap:SubsequentEventsTextBlock"><p id="xdx_805_eus-gaap--SubsequentEventsTextBlock_zBbOIswxXMZg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
12 &#8211; <span id="xdx_822_zrn3PeKETEw8">Subsequent Events</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has evaluated subsequent events occurring from January 1, 2022, through February 28, 2022, the date of the audit opinion
letter.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Employee
Option Grants</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent
to December 31, 2021, the Company granted its new employee the option to purchase an aggregate of <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20220101__20220228__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z9BsmJqSbj" title="Number of shares granted"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" contextRef="From2022-01-012022-02-28_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">50,000</ix:nonFraction></span> shares of common stock (the
&#8220;Option Shares&#8221;) under the Company&#8217;s 2016 Equity Incentive Plan, at an exercise price of $<span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_c20220228__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z3htaCvWseH9" title="Exercise price per share"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice" contextRef="AsOf2022-02-28_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share. The Options
Shares expire <span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_c20220101__20220228__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zMY901s3P5Ta" title="Expiration period"><ix:nonNumeric contextRef="From2022-01-012022-02-28_us-gaap_SubsequentEventMember" format="ixt-sec:durwordsen" name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod">five years</ix:nonNumeric></span> from the date issued and vest ratably over <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_c20220101__20220228__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zOo62PMIabi7" title="Vesting period"><ix:nonNumeric contextRef="From2022-01-012022-02-28_us-gaap_SubsequentEventMember" format="ixt-sec:durwordsen" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1">twelve months</ix:nonNumeric></span> from the date issued.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Loan
Payable</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
January 20, 2022, the Company financed the purchase of a vehicle for $<span id="xdx_90D_eus-gaap--DebtInstrumentFaceAmount_iI_c20220120__us-gaap--FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis__us-gaap--AutomobileLoanMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zfTJwxEiyZf2" title="Debt instrument face, amount"><ix:nonFraction name="us-gaap:DebtInstrumentFaceAmount" contextRef="AsOf2022-01-20_us-gaap_AutomobileLoanMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">49,000</ix:nonFraction></span>. The loan term is for <span id="xdx_904_eus-gaap--DebtInstrumentTerm_dtM_c20220120__20220120__us-gaap--FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis__us-gaap--AutomobileLoanMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zGfEVws37Suc" title="Loan term"><ix:nonNumeric contextRef="From2022-01-202022-01-20_us-gaap_AutomobileLoanMember_us-gaap_SubsequentEventMember" format="ixt-sec:durmonth" name="us-gaap:DebtInstrumentTerm">71</ix:nonNumeric></span> months, annual interest rate of
<span id="xdx_905_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20220120__us-gaap--FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis__us-gaap--AutomobileLoanMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zhTGNgmOMBz3" title="Annual interest, rate"><ix:nonFraction name="us-gaap:DebtInstrumentInterestRateEffectivePercentage" contextRef="AsOf2022-01-20_us-gaap_AutomobileLoanMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">15.54</ix:nonFraction></span>%, with monthly principal and interest payments of $<span id="xdx_90D_eus-gaap--InterestExpenseDebt_c20220120__20220120__us-gaap--FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis__us-gaap--AutomobileLoanMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zdtdbxkrJ85e" title="Principal and interest, payments"><ix:nonFraction name="us-gaap:InterestExpenseDebt" contextRef="From2022-01-202022-01-20_us-gaap_AutomobileLoanMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,066</ix:nonFraction></span>, and secured by the purchased vehicle.</span></p>

</ix:nonNumeric><p id="xdx_818_z71xEIgWmYNk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>
<!-- Field: Split-Segment; Name: 003 -->
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<!-- Field: Page; Sequence: 116; Value: 2 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_019"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OPTI-HARVEST,
INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CONDENSED
BALANCE SHEETS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Amounts
rounded to nearest thousands, except share amounts)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" id="xdx_300_111_zB49tykRXAsf" summary="xdx: Statement - Balance Sheets" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="display: none; vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_492_20220630_zY6EPMxvGym8" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_499_20211231_zUvcvMWy9ufb" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_403_eus-gaap--AssetsAbstract_iB_zMxsdO0SnGCg" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_401_eus-gaap--AssetsCurrentAbstract_i01B_zZQoEBscuxM4" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_408_eus-gaap--Cash_i02I_zN6SzuVVqSV3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_404_eus-gaap--InventoryNet_i02I_zvLYUGicnYi7" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40C_eus-gaap--AssetsCurrent_i02TI_z7oqXgPLkbNg" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentNet_i01I_zfnD8CoxTUAb" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentNet_i01I_zR5GDoH6S3P4" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)">
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<tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_401_eus-gaap--DepositsAssetsNoncurrent_i01I_zeJdnPSPcraj" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Vendor deposits</td><td>&#160;</td>
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  <tr id="xdx_406_ecustom--DeferredOfferingCost_i01I_zGxjxfr95N72" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_40A_eus-gaap--Assets_i01TI_znvy9ovWdIub" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_405_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_iB_zopWqj746hSa" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">LIABILITIES AND SHAREHOLDERS&#8217; EQUITY (DEFICIT)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_409_eus-gaap--LiabilitiesCurrentAbstract_i01B_z8OyTIRa7dk3" style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40B_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrent_i02I_zqP2uTD0FWMf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_409_eus-gaap--ConvertibleNotesPayableCurrent_i02I_zkQWKFPkRq7l" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_40F_eus-gaap--ConvertibleNotesPayableCurrent_i02I_zigWc5DezJy3" style="display: none; vertical-align: bottom; background-color: White">
    <td style="text-align: left">Convertible notes payable, net of debt discount</td><td>&#160;</td>
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<tr id="xdx_401_eus-gaap--LoansPayableCurrent_i02I_zPuZZ1R0O1o4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt">Current portion of loan payable</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="us-gaap:LoansPayableCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">13,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="us-gaap:LoansPayableCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">8,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_402_eus-gaap--LiabilitiesCurrent_i02TI_z0MWI1FaN7i4" style="vertical-align: bottom; background-color: White">
    <td style="font-style: italic; text-align: left">Total Current Liabilities</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: right">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_406_eus-gaap--LongTermLoansPayable_i01I_zbtlQgzZOcEd" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_40D_eus-gaap--Liabilities_i01TI_zIHeJT2htiPi" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Total Liabilities</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: right">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_402_eus-gaap--CommitmentsAndContingencies_i01I_zFSwSpPpuzCb" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Commitments and Contingencies</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_407_eus-gaap--StockholdersEquityAbstract_i01B_zM51LWusyYh8" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">Shareholders&#8217; Equity (Deficit)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_409_eus-gaap--PreferredStockValue_i02I_z27c1rPuTeme" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_403_eus-gaap--PreferredStockValue_i02I_zGdfWCRn4XEf" style="display: none; vertical-align: bottom; background-color: White">
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<tr id="xdx_408_eus-gaap--CommonStockValue_i02I_zevsilTZTQfl" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40E_eus-gaap--CommonStockValue_i02I_zdCtFJ5jLDfj" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Common stock, value</td><td>&#160;</td>
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<tr id="xdx_40C_eus-gaap--AdditionalPaidInCapital_i02I_z31d575EDxnc" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_407_eus-gaap--RetainedEarningsAccumulatedDeficit_i02I_zp6t1VjiSUhi" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt">Accumulated deficit</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: right">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_402_eus-gaap--LiabilitiesAndStockholdersEquity_i01TI_zW5xISPv48Qk" style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total liabilities and Shareholders&#8217; Equity (Deficit)</td><td style="padding-bottom: 2.5pt">&#160;</td>
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  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_020"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OPTI-HARVEST,
INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CONDENSED
STATEMENTS OF OPERATIONS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
the Six Months Ended June 30, 2022 and 2021</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Unaudited)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Amounts
rounded to nearest thousands, except share and per share amounts)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" id="xdx_300_113_zstmnwneRCIh" summary="xdx: Statement - Statements of Operations" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_494_20220101__20220630_zo9CRhkFnBS8" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_49F_20210101__20210630_zd4vvDAMTyel" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Six Months Ended June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr id="xdx_40B_eus-gaap--CostOfGoodsAndServicesSold_zcFbIAMnsYa4" style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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  <tr id="xdx_401_eus-gaap--SellingGeneralAndAdministrativeExpense_i01_zXrQjT8nc4Rg" style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40D_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_zMfjWKgZg8Y8" style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">32,820,329</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
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  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_021"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OPTI-HARVEST,
INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CONDENSED
STATEMENTS OF CHANGES IN SHAREHOLDERS&#8217; EQUITY (DEFICIT)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
the Six Months Ended June 30, 2022 and 2021</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Unaudited)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Amounts
rounded to nearest thousands, except share amounts)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" id="xdx_30C_114_zf7cgfOBbB03" summary="xdx: Statement - Statements of Changes in Shareholders&apos; Equity (Deficit)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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<tr style="vertical-align: bottom">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of these financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


<!-- Field: Page; Sequence: 119; Value: 2 -->
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    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_022"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OPTI-HARVEST,
INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CONDENSED
STATEMENTS OF CASH FLOWS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
the Six Months Ended June 30, 2022 and 2021</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Unaudited)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Amounts
rounded to nearest thousands)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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  <tr id="xdx_402_eus-gaap--AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_i01B_zBpkeHW9Ioig" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_40A_eus-gaap--Depreciation_i02_zojJI48pNp9k" style="vertical-align: bottom; background-color: White">
    <td>Depreciation</td><td>&#160;</td>
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  <tr id="xdx_402_eus-gaap--InventoryWriteDown_i02_zGtdL4C9Q029" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Change in inventory reserve</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1539">-</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr id="xdx_40C_eus-gaap--AmortizationOfDebtDiscountPremium_i02_z3NfgzCHmxMk" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Amortization of debt discount</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1543">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40A_ecustom--FinancingCosts_i02_z861t99qhhSi" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Financing costs</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="OPTI:FinancingCosts" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">611,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1546">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40D_eus-gaap--IssuanceOfStockAndWarrantsForServicesOrClaims_i02_zINMrBcCYZ3g" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Fair value of common stock issued for services</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:IssuanceOfStockAndWarrantsForServicesOrClaims" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,652,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_408_ecustom--FairValueOfVestedOptionsAndWarrants_i02_zUdXLEfCyBp7" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Fair value of vested options and warrants</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="OPTI:FairValueOfVestedOptionsAndWarrants" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,402,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr id="xdx_40E_ecustom--FairValueOfVestedRestrictedStockUnits_i02_zwA3agvZuVb4" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Fair value of vested restricted stock units</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="OPTI:FairValueOfVestedRestrictedStockUnits" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">75,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1555">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_407_ecustom--GainOnForgivenessOfSbaPppLoan_i02N_di_zjJMVHCb9dKa" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Gain on forgiveness of SBA PPP loan</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="OPTI:GainOnForgivenessOfSbaPppLoan" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">38,000</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_408_eus-gaap--IncreaseDecreaseInOperatingCapitalAbstract_i02B_z8xvfJCJ45Ik" style="vertical-align: bottom; background-color: White">
    <td style="font-style: italic; text-align: left">Changes in operating assets and liabilities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_404_eus-gaap--IncreaseDecreaseInAccountsReceivable_i03N_di_zqkUFzchPT4e" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Accounts receivable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsReceivable" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">9,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsReceivable" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_408_eus-gaap--IncreaseDecreaseInInventories_i03N_di_z4X2b61VKG1d" style="vertical-align: bottom; background-color: White">
    <td>Inventory</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInInventories" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">486,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInInventories" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">64,000</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_405_eus-gaap--IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_i03N_di_zU0t7olVRV7g" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Prepaids and other current assets</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">42,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">207,000</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_40C_eus-gaap--IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_i03_zNGjYolN14m6" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt">Accounts payable and accrued expenses</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">808,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_40F_eus-gaap--NetCashProvidedByUsedInOperatingActivities_i01T_zvMWj34ICIo" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Net cash used in operating activities</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">2,534,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">2,858,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInInvestingActivitiesAbstract_iB_z8MUb3CyMime" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-style: italic; text-align: left">Cash Flows from Investing Activities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_400_eus-gaap--PaymentsToAcquirePropertyPlantAndEquipment_i01N_di_zvkM6w3gxFji" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt">Purchase of property and equipment</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:PaymentsToAcquirePropertyPlantAndEquipment" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">80,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:PaymentsToAcquirePropertyPlantAndEquipment" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">16,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr id="xdx_40C_eus-gaap--NetCashProvidedByUsedInInvestingActivities_i01T_zKiR3PcIWiac" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Net cash used in investing activities</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInInvestingActivities" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">80,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInInvestingActivities" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">16,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_405_eus-gaap--NetCashProvidedByUsedInFinancingActivitiesAbstract_iB_zFLEXLNITaUg" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-style: italic; text-align: left">Cash Flows from Financing Activities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40B_eus-gaap--ProceedsFromIssuanceOfCommonStock_i01_zcj34G9HHiu4" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Proceeds from sale of common stock</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfCommonStock" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">195,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfCommonStock" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,794,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_403_ecustom--ProceedsFromExerciseOfWarrants_i01_zHGm1GQjwiL8" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>Proceeds from exercise of warrants</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="OPTI:ProceedsFromExerciseOfWarrants" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,481,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1594">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40F_ecustom--RepaymentsOfDeferredOfferingCosts_i01N_di_zD9dvVx8cueg" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Deferred offering costs</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="OPTI:RepaymentsOfDeferredOfferingCosts" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">42,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1597">-</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40A_eus-gaap--RepaymentsOfShortTermDebt_i01N_di_z24udrWuWqvg" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Repayment of loans payable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:RepaymentsOfShortTermDebt" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:RepaymentsOfShortTermDebt" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,000</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_402_ecustom--RepaymentOfPatentPurchaseObligation_i01N_di_zhrDgjKhDN9c" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt">Repayment of patent purchase obligation</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1602">-</span></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="OPTI:RepaymentOfPatentPurchaseObligation" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">100,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are integral part of these financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center">&#160;</p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span id="ba_023"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OPTI-HARVEST,
INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES
TO FINANCIAL STATEMENTS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For
the Six Months Ended June 30, 2022 and 2021</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Unaudited)</b></span></p>

<p id="xdx_049_c20220101__20220630_zsbJXtuSYvXb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Amounts
rounded to nearest thousands, except share and per share amounts)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:NatureOfOperations"><p id="xdx_800_eus-gaap--NatureOfOperations_z4tFd2K1Uzle" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
1 &#8211; <span id="xdx_828_zeXGEOZbm536">Basis of Presentation and Liquidity</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying interim condensed financial statements of Opti-Harvest, Inc. (the &#8220;Company&#8221;, &#8220;we&#8221;, &#8220;us&#8221;,
or &#8220;our&#8221;), are unaudited, but in the opinion of management contain all adjustments, including normal recurring adjustments,
necessary to present fairly our financial position at June 30, 2022 and the results of operations and cash flows for the six months ended
June 30, 2022 and 2021. The balance sheet as of December 31, 2021 is derived from the Company&#8217;s audited financial statements included
elsewhere in this filing.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
information and footnote disclosures normally included in financial statements that have been prepared in accordance with accounting
principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of
the Securities and Exchange Commission regarding interim financial reporting. We believe that the disclosures contained in these condensed
financial statements are adequate to make the information presented herein not misleading. For further information, refer to the financial
statements and the notes thereto included in the Company&#8217;s registration statement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
results of operations for the six months ended June 30, 2022 are not necessarily indicative of the results of operations to be expected
for the full fiscal year ending December 31, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>COVID-19
Considerations</i></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the six months ended June 30, 2022, the COVID-19 pandemic did not have a material net impact on the Company&#8217;s operating results.
In the future, the pandemic may cause reduced demand for the Company&#8217;s products if, for example, the pandemic results in a recessionary
economic environment which negatively effects the consumers who purchase our products. The Company has not observed any material impairments
of its assets or a significant change in the fair value of its assets due to the COVID-19 pandemic.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s ability to operate without significant negative operational impact from the COVID-19 pandemic will in part depend on
its ability to protect its employees and its supply chain. The Company has endeavored to follow the recommended actions of government
and health authorities to protect its employees. Since the onset of the COVID-19 pandemic, the Company maintained the consistency of
its operations. However, the uncertainty resulting from the pandemic could result in an unforeseen disruption to its workforce and supply
chain (for example an inability of a key supplier or transportation supplier to source and transport materials) that could negatively
impact the Company&#8217;s operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Going
Concern</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets
and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying condensed financial
statements, during the six months ended June 30, 2022, the Company recorded a net loss of $<span id="xdx_90C_eus-gaap--NetIncomeLoss_iN_di_c20220101__20220630_zXV5uAkVFyJ8"><ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">7,717,000</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">,
used cash in operations of $<span id="xdx_90D_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_di_c20220101__20220630_zUWVIU1wFVK1"><ix:nonFraction name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">2,534,000</ix:nonFraction></span>,</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">
and had a shareholders&#8217; deficit of $<span id="xdx_90A_eus-gaap--StockholdersEquity_iNI_di_c20220630_zOn8Uw7k5sDh"><ix:nonFraction name="us-gaap:StockholdersEquity" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,828,000</ix:nonFraction></span></span>
<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">on June 30, 2022. These factors raise substantial doubt about
the Company&#8217;s ability to continue as a going concern within one year after the date of the financial statements being issued. In
addition, the Company&#8217;s independent registered public accounting firm, in its report on the Company&#8217;s December 31, 2021 financial
statements, raised substantial doubt about the Company&#8217;s ability to continue as a going concern. The ability of the Company to
continue as a going concern is dependent upon the Company&#8217;s ability to raise additional funds and implement its business plan.
The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
June 30, 2022, the Company had cash on hand in the amount of $<span id="xdx_90D_eus-gaap--Cash_iI_c20220630_zTqS4tqxOruk" title="Cash"><ix:nonFraction name="us-gaap:Cash" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">729,000</ix:nonFraction></span>. Subsequent to June 30, 2022, the Company received net proceeds
of approximately $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_c20220629__20220831__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zBUeBllgNtbj" title="Proceeds from issuance of private placement"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfPrivatePlacement" contextRef="From2022-06-292022-08-31_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,105,000</ix:nonFraction></span> from the sale of common stock (See Note 11). The Company believes it has enough cash to sustain operations
through November 30, 2022. The continuation of the Company as a going concern is dependent upon its ability to obtain necessary debt
or equity financing to continue operations until it begins generating positive cash flow. No assurance can be given that any future financing
will be available or, if available, that it will be on terms that are satisfactory to the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Even
if the Company is able to obtain additional financing, it may contain undue restrictions on our operations, in the case of debt financing
or cause substantial dilution for our shareholders, in case or equity financing.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:SignificantAccountingPoliciesTextBlock"><p id="xdx_80F_eus-gaap--SignificantAccountingPoliciesTextBlock_zu7CuXI24Sd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
2 &#8211; <span id="xdx_822_zNLjjLNlJsM5">Significant Accounting Policies</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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of Estimates</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date
of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ
from those estimates. Those estimates and assumptions include estimates for reserves of uncollectible accounts, inventory obsolescence,
depreciable lives of property and equipment, analysis of impairments of recorded long-term tangible and intangible assets, realization
of deferred tax assets, accruals for potential liabilities and assumptions made in valuing stock instruments issued for services, and
assumptions used in the determination of the Company&#8217;s liquidity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventory
is stated at the lower of cost or net realizable value, with cost determined on a first-in, first-out (&#8220;FIFO&#8221;) basis. We
regularly review our inventory quantities on hand and record a provision for excess and obsolete inventory based primarily on our estimated
forecast of product demand and our ability to sell the product(s) concerned. Demand for our products can fluctuate significantly. Factors
that could affect demand for our products include unanticipated changes in consumer preferences, general market conditions or other factors,
which may result in cancellations of advance orders or a reduction in the rate of reorders placed by customers. Additionally, our management&#8217;s
estimates of future product demand may be inaccurate, which could result in an understated or overstated provision required for excess
and obsolete inventory. At June 30, 2022, the Company determined that no reserve for obsolete inventory was necessary.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="OPTI:DeferredOfferingCostsPolicyTextBlock"><p id="xdx_848_ecustom--DeferredOfferingCostsPolicyTextBlock_zvL7wJvHa28d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_862_z1VaJ8bjTR29">Deferred
Offering Costs</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
offering costs consist principally of legal, accounting, and underwriters&#8217; fees incurred related to equity financings. These deferred
offering costs are deferred and then charged against the gross proceeds received once the equity financing occurs or are charged to expense
if the financing does not occur.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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Recognition</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company recognizes revenue in accordance with Accounting Standards Codification (ASC) 606, <i>Revenue from Contracts with Customers</i>
(&#8220;ASC 606&#8221;). The underlying principle of ASC 606 is to recognize revenue to depict the transfer of goods or services to customers
at the amount expected to be collected. ASC 606 creates a five-step model that requires entities to exercise judgment when considering
the terms of contract(s), which include (1) identifying the contract or agreement with a customer, (2) identifying our performance obligations
in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance
obligations, and (5) recognizing revenue as each performance obligation is satisfied.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company does not have any significant contracts with customers requiring performance beyond delivery, and contracts with customers contain
no incentives or discounts that could cause revenue to be allocated or adjusted over time. Shipping and handling activities are performed
before the customer obtains control of the goods and therefore represent a fulfillment activity rather than a promised service to the
customer. Revenue and costs of sales are recognized when control of the products transfers to our customer, which generally occurs upon
shipment from our facilities. The Company&#8217;s performance obligations are satisfied at that time.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
of the Company&#8217;s products are offered for sale as finished goods only, and there are no performance obligations required post-shipment
for customers to derive the expected value from them.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company does not allow for returns, except for damaged products when the damage occurred pre-fulfillment. Damaged product returns have
historically been insignificant. Because of this, the stand-alone nature of our products, and our assessment of performance obligations
and transaction pricing for our sales contracts, we do not currently maintain a contract asset or liability balance for obligations.
We assess our contracts and the reasonableness of our conclusions on a quarterly basis.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:EarningsPerSharePolicyTextBlock"><p id="xdx_841_eus-gaap--EarningsPerSharePolicyTextBlock_zx6cZCAo3Kbc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zr4FRLSuw0oh">Loss
per Common Share</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic
earnings (loss) per share is computed by dividing the net income (loss) applicable to common shareholders by the weighted average number
of shares of common stock outstanding during the period. Diluted earnings (loss) per share is computed by dividing the net income applicable
to common shareholders by the weighted average number of common shares outstanding plus the number of additional common shares that would
have been outstanding if all dilutive potential common shares had been issued, using the treasury stock method. Potential common shares
are excluded from the computation when their effect is antidilutive.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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the six months ended June 30, 2022 and 2021, the calculations of basic and diluted loss per share are the same because potential dilutive
securities would have had an anti-dilutive effect. The potentially dilutive securities consisted of the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B2_zo0NvKbMTmMa" style="display: none">Schedule
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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%">
  <tr style="display: none; vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_492_20220101__20220630_zvT5NlqQLDB3" style="display: none; text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_498_20210101__20210630_zf0F3sxVXmUa" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 16%; text-align: right"><ix:nonFraction name="us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" contextRef="From2021-01-012021-06-30_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,264,375</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--OptionsMember_zSdVGuqUkxka" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_40B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--RestrictedStockUnitsMember_zYiH0xeDkWt3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</table>

</ix:nonNumeric><p id="xdx_8A2_zNUjofIDIkg4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy"><p id="xdx_84A_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_z2fTnuXZR0x3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86A_zFFgS6odPjTi">Stock
Compensation Expense</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company periodically issues stock options to employees and non-employees in non-capital raising transactions for services and for financing
costs. The Company accounts for such grants issued and vesting based on ASC 718, <i>Compensation-Stock Compensation</i> whereby the value
of the award is measured on the date of grant and recognized for employees as compensation expense on the straight-line basis over the
vesting period. The Company recognizes the fair value of stock-based compensation within its Statements of Operations with classification
depending on the nature of the services rendered.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
fair value of each option or warrant grant is estimated using the Black-Scholes option-pricing model. The Company is a private company
and lacks company-specific historical and implied volatility information. Therefore, it estimates its expected stock volatility based
on the historical volatility of a publicly traded set of peer companies within the agriculture technology industry with characteristics
similar to the Company. The expected term of the Company&#8217;s stock options has been determined utilizing the &#8220;simplified&#8221;
method for awards that qualify as &#8220;plain-vanilla&#8221; options. The expected term of stock options granted to non-employees is
equal to the contractual term of the option award. The risk-free interest rate is determined by reference to the U.S. Treasury yield
curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend
yield is zero, based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the
foreseeable future.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the six months ended June 30, 2022 and 2021, common shares of the Company were not publicly traded. As such, during the period, the Company
estimates the fair value of common stock using an appropriate valuation methodology, in accordance with the framework of the American
Institute of Certified Public Accountants&#8217; Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued
as Compensation. Each valuation methodology includes estimates and assumptions that require the Company&#8217;s judgment. These estimates
and assumptions include a number of objective and subjective factors, including external market conditions, guideline public company
information, the prices at which the Company sold its common stock to third parties in arms&#8217; length transactions, the rights and
preferences of securities senior to the Company&#8217;s common stock at the time, and the likelihood of achieving a liquidity event such
as an initial public offering or sale. Significant changes to the assumptions used in the valuations could result in different fair values
of stock options at each valuation date, as applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ResearchAndDevelopmentExpensePolicy"><p id="xdx_847_eus-gaap--ResearchAndDevelopmentExpensePolicy_zqmko5KCSRz7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zEGRlO27TRCg">Research
and Development</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Research
and development costs include advisors, consultants, software licensing, product design and development, data monitoring and collection,
field trial installations, and travel related expenses. Research and development costs are expensed as incurred. During the six months
ended June 30, 2022 and 2021, research and development costs were approximately $<span id="xdx_903_eus-gaap--ResearchAndDevelopmentExpense_c20220101__20220630_z3Xxunc74Wd8" title="Research and development expense"><ix:nonFraction name="us-gaap:ResearchAndDevelopmentExpense" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,257,000</ix:nonFraction></span> and $<span id="xdx_909_eus-gaap--ResearchAndDevelopmentExpense_c20210101__20210630_zo3bPz0WANr8" title="Research and development expense"><ix:nonFraction name="us-gaap:ResearchAndDevelopmentExpense" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,191,000</ix:nonFraction></span>, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:FairValueOfFinancialInstrumentsPolicy"><p id="xdx_848_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zUeS9vtnq9fk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_864_zdnQLHhBTkc5">Fair
Value of Financial Instruments</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company uses various inputs in determining the fair value of its financial assets and liabilities and measures these assets on a recurring
basis. Financial assets recorded at fair value are categorized by the level of subjectivity associated with the inputs used to measure
their fair value. ASC 820 defines the following levels of subjectivity associated with the inputs:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
1&#8212;Quoted prices in active markets for identical assets or liabilities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
2&#8212;Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level
3&#8212;Unobservable inputs based on the Company&#8217;s assumptions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
carrying amounts of financial assets and liabilities, such as cash, accounts receivable, accounts payable and accrued liabilities, and
patent purchase obligation approximate their fair values because of the short maturity of these instruments. The carrying values of loan
and convertible notes payables approximate their fair values because interest rates on these obligations are based on prevailing market
interest rates.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock"><p id="xdx_848_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zaRu4y9qBfj7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_869_z6QvLKTyozD7">Recent
Accounting Pronouncements</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
September 2016, the FASB issued ASU 2016-13, <i>Measurement of Credit Losses on Financial Instruments</i>. ASU 2016-13 requires entities
to use a forward-looking approach based on current expected credit losses (&#8220;CECL&#8221;) to estimate credit losses on certain types
of financial instruments, including trade receivables. This may result in the earlier recognition of allowances for losses. ASU 2016-13
is effective for the Company beginning January 1, 2023, and early adoption is permitted. The Company does not believe the potential impact
of the new guidance and related codification improvements will be material to its financial position, results of operations and cash
flows.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
May 2021, the FASB issued ASU 2021-04 &#8220;Earnings Per Share (Topic 260), Debt&#8212;Modifications and Extinguishments (Subtopic 470-50),
Compensation&#8212; Stock Compensation (Topic 718), and Derivatives and Hedging&#8212;Contracts in Entity&#8217;s Own Equity (Subtopic
815- 40) Issuer&#8217;s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options&#8221;
(&#8220;ASU 2021-04&#8221;). ASU 2021-04 provides guidance as to how an issuer should account for a modification of the terms or conditions
or an exchange of a freestanding equity-classified written call option (i.e., a warrant) that remains equity classified after modification
or exchange as an exchange of the original instrument for a new instrument. An issuer should measure the effect of a modification or
exchange as the difference between the fair value of the modified or exchanged warrant and the fair value of that warrant immediately
before modification or exchange and then apply a recognition model that comprises four categories of transactions and the corresponding
accounting treatment for each category (equity issuance, debt origination, debt modification, and modifications unrelated to equity issuance
and debt origination or modification). ASU 2021-04 is effective for all entities for fiscal years beginning after December 15, 2021,
including interim periods within those fiscal years. An entity should apply the guidance provided in ASU 2021-04 prospectively to modifications
or exchanges occurring on or after the effective date. The Company adopted ASU 2021-04 effective January 1, 2022. The adoption of ASU
2021-04 did not have any impact on the Company&#8217;s financial statement presentation or disclosures.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
recent accounting pronouncements issued by the FASB, its Emerging Issues Task Force, the American Institute of Certified Public Accountants,
and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company&#8217;s
present or future financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ConcentrationRiskCreditRisk"><p id="xdx_841_eus-gaap--ConcentrationRiskCreditRisk_zMPYHFZXXkjb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_zPRT8rUsXZLh">Concentration
Risks</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
includes cash on hand and cash in banks and are reported as &#8220;Cash&#8221; in the balance sheets. The balance of cash on hand is
not insured by the Federal Deposit Insurance Corporation. The balance of cash in banks is insured by the Federal Deposit Insurance Corporation
for up to $250,000.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company performs a regular review of customer activity and associated credit risks and does not require collateral or other arrangements.
Five customers accounted for <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220630__srt--MajorCustomersAxis__custom--OneCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember_z4MLfIfRwaY3" title="Concentration risk, percentage"><ix:nonFraction name="us-gaap:ConcentrationRiskPercentage1" contextRef="From2022-01-012022-06-30_custom_OneCustomerMember_us-gaap_CustomerConcentrationRiskMember_us-gaap_RevenueFromContractWithCustomerMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">24</ix:nonFraction></span>%, <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220630__srt--MajorCustomersAxis__custom--TwoCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember_zP5TLm4Nnrfe" title="Concentration risk, percentage"><ix:nonFraction name="us-gaap:ConcentrationRiskPercentage1" contextRef="From2022-01-012022-06-30_custom_TwoCustomerMember_us-gaap_CustomerConcentrationRiskMember_us-gaap_RevenueFromContractWithCustomerMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">21</ix:nonFraction></span>%, <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220630__srt--MajorCustomersAxis__custom--ThreeCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember_zUttDwFneo9a" title="Concentration risk, percentage"><ix:nonFraction name="us-gaap:ConcentrationRiskPercentage1" contextRef="From2022-01-012022-06-30_custom_ThreeCustomerMember_us-gaap_CustomerConcentrationRiskMember_us-gaap_RevenueFromContractWithCustomerMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">16</ix:nonFraction></span>%, <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220630__srt--MajorCustomersAxis__custom--FourCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember_z1f0792KW07h" title="Concentration risk, percentage"><ix:nonFraction name="us-gaap:ConcentrationRiskPercentage1" contextRef="From2022-01-012022-06-30_custom_FourCustomerMember_us-gaap_CustomerConcentrationRiskMember_us-gaap_RevenueFromContractWithCustomerMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">12</ix:nonFraction></span>% and <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220630__srt--MajorCustomersAxis__custom--FiveCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember_zmUoy30Et4pg" title="Concentration risk, percentage"><ix:nonFraction name="us-gaap:ConcentrationRiskPercentage1" contextRef="From2022-01-012022-06-30_custom_FiveCustomerMember_us-gaap_CustomerConcentrationRiskMember_us-gaap_RevenueFromContractWithCustomerMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">10</ix:nonFraction></span>% of the Company&#8217;s sales during the six months ended June 30, 2022. No other
customers accounted for sales in excess of <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220630__srt--MajorCustomersAxis__custom--NoCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember_zUTB4Hrbo6z5" title="Concentration risk, percentage"><span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220630__srt--MajorCustomersAxis__custom--NoCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember_zihofn6uYLv7"><ix:nonFraction name="us-gaap:ConcentrationRiskPercentage1" contextRef="From2022-01-012022-06-30_custom_NoCustomerMember_us-gaap_CustomerConcentrationRiskMember_us-gaap_RevenueFromContractWithCustomerMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure"><ix:nonFraction name="us-gaap:ConcentrationRiskPercentage1" contextRef="From2022-01-012022-06-30_custom_NoCustomerMember_us-gaap_CustomerConcentrationRiskMember_us-gaap_RevenueFromContractWithCustomerMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">10</ix:nonFraction></ix:nonFraction></span></span>% for the six months ended June 30, 2022 and 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s uses two vendors to manufacture its products available for sale, inventory, and our products used in field trials for
research and development purposes.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:SegmentReportingPolicyPolicyTextBlock"><p id="xdx_846_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zeyypawIuae2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_zLB5NbuTT0Db">Segment
Reporting</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company operates in one segment for the manufacture and distribution of our products. In accordance with the &#8220;Segment Reporting&#8221;
Topic of the ASC, the Company&#8217;s chief operating decision maker has been identified as the Chief Executive Officer and President,
who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing
guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information
quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the
entity holds material assets and reports revenue. All material operating units qualify for aggregation under &#8220;Segment Reporting&#8221;
due to their similar customer base and similarities in economic characteristics; nature of products and services; and procurement, manufacturing,
and distribution processes. Since the Company operates in one segment, all financial information required by &#8220;Segment Reporting&#8221;
can be found in the accompanying financial statements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric></ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:InventoryDisclosureTextBlock"><p id="xdx_802_eus-gaap--InventoryDisclosureTextBlock_z7zUnUnwP4E3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
3 &#8211;<span id="xdx_823_zTm0sQRx9pub"> Inventory</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ScheduleOfInventoryCurrentTableTextBlock"><p id="xdx_89A_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zfbWU22RPa38" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventory,
which is comprised of finished product, is valued at the lower of cost (first-in, first-out) or net realizable value, and net of reserves
is comprised of the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B7_zypzcs3WQoJ7" style="display: none">Schedule
of Inventory</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="width: 60%">Inventory</td><td style="width: 2%">&#160;</td>
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    <td style="text-align: left; padding-bottom: 1.5pt">Reserve for obsolescence</td><td style="padding-bottom: 1.5pt">&#160;</td>
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</ix:nonNumeric><p id="xdx_8AB_zGTN5ynQdfvk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
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in cost of goods sold in the accompanying statement of operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock"><p id="xdx_80B_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zFmVexbVG2pc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
4 &#8211; <span id="xdx_824_zC0w4m1Ge7R6">Property and Equipment</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:PropertyPlantAndEquipmentTextBlock"><p id="xdx_89D_eus-gaap--PropertyPlantAndEquipmentTextBlock_zpsSfEtGZlra" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property
and equipment is comprised of the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8BB_zCFtIfqgSmk7" style="display: none">Schedule
of Property and Equipment</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="display: none; vertical-align: bottom; background-color: White">
    <td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_49C_20220630_zsbkAWOqveOf" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_498_20211231_zQTCDIWp4KIf" style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="width: 60%; text-align: left">Tools and molds</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="AsOf2022-06-30_us-gaap_ToolsDiesAndMoldsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,990,000</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
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    <td style="text-align: left">Computer equipment</td><td>&#160;</td>
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  <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_zrJFIkJBe0uh" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Total cost</td><td>&#160;</td>
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  <tr id="xdx_408_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_zXyBfga2Z2kf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt">Accumulated depreciation</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">824,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentNet_iTI_z4kVtmmba7xh" style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 2.5pt">Net book value</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,287,000</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,158,000</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
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</ix:nonNumeric><p id="xdx_8AB_zit3ZBgZ3Wn5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation
expense for the six months ended June 30, 2022 and 2021 was $<span id="xdx_90A_eus-gaap--Depreciation_pp0p0_c20220101__20220630_zWlZeEucgTFe" title="Depreciation"><ix:nonFraction name="us-gaap:Depreciation" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">247,000</ix:nonFraction></span> and $<span id="xdx_907_eus-gaap--Depreciation_pp0p0_c20210101__20210630_zzUhgQdOUpdi" title="Depreciation"><ix:nonFraction name="us-gaap:Depreciation" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">156,000</ix:nonFraction></span>, respectively. On January 20, 2022, the Company financed
the purchase of a vehicle for $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_c20220120__us-gaap--LongtermDebtTypeAxis__us-gaap--LoansPayableMember_zhEEzgzAEvRd" title="Face amount"><ix:nonFraction name="us-gaap:DebtInstrumentFaceAmount" contextRef="AsOf2022-01-20_us-gaap_LoansPayableMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">49,000</ix:nonFraction></span> (see Note 7). During the six months ended June 30, 2022, the Company reclassified $<span id="xdx_909_ecustom--ReclassificationOfVendorDepositsToPropertyAndEquipment_c20220101__20220630_z8tUmy8wamli" title="Vendor deposits to property and equipment"><ix:nonFraction name="OPTI:ReclassificationOfVendorDepositsToPropertyAndEquipment" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">247,000</ix:nonFraction></span> from
vendor deposits to property and equipment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:IntangibleAssetsDisclosureTextBlock"><p id="xdx_80A_eus-gaap--IntangibleAssetsDisclosureTextBlock_zBtmH8qacqZf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
5 &#8211; <span id="xdx_821_z7yxqBPhbys9">Intangible Assets and Contingent Earnout Liability</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">DisperSolar
LLC (Related Party)</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 7, 2017 (as amended on December 6, 2018), the Company and DisperSolar LLC (the &#8220;Seller&#8221;), a California limited liability
company, entered into a Patent Purchase Agreement (the &#8220;Agreement&#8221;) pursuant to which the Company acquired certain patents
(intellectual property) of the Seller. The Seller developed the patents for harvesting, transmission, spectral modification and delivery
of sunlight to shaded areas of plants. Per the Agreement, the Company was obligated to pay milestone payments, earnout payments, and
royalties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Earnout
Payments</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company is obligated to pay total <span id="xdx_907_ecustom--EarnoutPaymentsDescription_c20220101__20220630__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember__srt--StatementScenarioAxis__custom--EarnoutPaymentsMember_zEYqxArhtUz8" title="Earnout payments, description"><ix:nonNumeric contextRef="From2022-01-012022-06-30_custom_DisperSolarLLCMember_custom_EarnoutPaymentsMember" name="OPTI:EarnoutPaymentsDescription">earnout payments of $<span id="xdx_90E_eus-gaap--PaymentsToAcquireIntangibleAssets_c20220101__20220630__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember__srt--StatementScenarioAxis__custom--EarnoutPaymentsMember_zp9HmhUTXf5a" title="Payments to acquire intangible assets"><ix:nonFraction name="us-gaap:PaymentsToAcquireIntangibleAssets" contextRef="From2022-01-012022-06-30_custom_DisperSolarLLCMember_custom_EarnoutPaymentsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">800,000</ix:nonFraction></span> payable on the on-going basis at a rate of 50% of gross margin and/or
license revenue from the date of the first commercial sale of a covered product or the first receipt by the Company of license revenue</ix:nonNumeric></span>,
until the aggregate combined gross margin and license revenue reach $<span id="xdx_903_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn5n6_c20220101__20220630__srt--ProductOrServiceAxis__us-gaap--LicenseMember_zxKHrMp2Lgcg" title="Revenues"><ix:nonFraction name="us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax" contextRef="From2022-01-012022-06-30_us-gaap_LicenseMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">1.6</ix:nonFraction></span> million.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Royalties</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company will pay to Seller royalties as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following
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    pays to Seller an aggregate amount in royalties of $<span id="xdx_903_eus-gaap--RoyaltyGuaranteesCommitmentsAmount_iI_pn6n6_c20220630_zGJb3VgNHUdh" title="Royalty guarantees commitments amount"><ix:nonFraction name="us-gaap:RoyaltyGuaranteesCommitmentsAmount" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">30</ix:nonFraction></span> million, the Company shall pay to Seller royalties on sales of covered products
    at a rate of 8% of gross margin.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">&#160;</td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Once
    the Company has paid to Seller an aggregate amount in royalties of $<span id="xdx_90A_eus-gaap--RoyaltyGuaranteesCommitmentsAmount_iI_pn6n6_c20220630_zwGEAdYEMd1i" title="Royalty guarantees commitments amount"><ix:nonFraction name="us-gaap:RoyaltyGuaranteesCommitmentsAmount" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">30</ix:nonFraction></span> million, the Company shall pay to Seller royalties on sales
    of covered products at a rate of <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220630__srt--ProductOrServiceAxis__us-gaap--ProductMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zfJ1sQ5bdYw1" title="Concentration risk, percentage"><ix:nonFraction name="us-gaap:ConcentrationRiskPercentage1" contextRef="From2022-01-012022-06-30_us-gaap_ProductMember_us-gaap_RevenueFromContractWithCustomerMember_us-gaap_CustomerConcentrationRiskMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">4.75</ix:nonFraction></span>% of gross margin until the earlier of (x) such time as covered products are not covered by
    any claims of any assigned patent, and (y) the date of the consummation of a Strategic Transaction.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of June 30, 2022 and December 31, 2021, the Company recorded no earnout or royalties payment obligations as no gross margin was realized.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Strategic
Transaction</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company will pay to Seller <span id="xdx_903_ecustom--PercentageOfConsiderationReceived_iI_pid_dp_uPure_c20220630__srt--ProductOrServiceAxis__us-gaap--LicenseMember_zZKjoO8MiGmd" title="Percentage of consideration received"><ix:nonFraction name="OPTI:PercentageOfConsiderationReceived" contextRef="AsOf2022-06-30_us-gaap_LicenseMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">7.6</ix:nonFraction></span>% of all license consideration received by the Company until the date of the consummation of a Strategic
Transaction. &#8220;Strategic Transaction&#8221; means a transaction or a series of related transactions that results in an acquisition
of the Company by a third party, including by way of merger, purchase of capital stock or purchase of assets or change of control or
otherwise.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Strategic
Transaction Consideration. &#8220;Strategic Transaction Consideration&#8221; means any cash consideration and the fair market value of
any non-cash consideration paid to the Company by any acquirer as consideration for the Strategic Transaction, less the costs and expenses
incurred by the Company for the purpose of consummating the Strategic Transaction. The Company will pay to Seller a percentage of all
license consideration received by the Company as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_ecustom--PercentageOfConsiderationReceived_iI_pid_dp_uPure_c20220630__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember__srt--RangeAxis__srt--MinimumMember_z9w3shkKJrnc" title="Percentage of consideration received"><ix:nonFraction name="OPTI:PercentageOfConsiderationReceived" contextRef="AsOf2022-06-30_custom_DisperSolarLLCMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">3.8</ix:nonFraction></span>%
    of the first $<span id="xdx_907_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20220630__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember__srt--RangeAxis__srt--MinimumMember_zNvC5mqaKWT3" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2022-06-30_custom_DisperSolarLLCMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">50</ix:nonFraction></span> million of the Strategic Transaction Consideration;</span></td></tr>
</table>

<p style="margin: 0">&#160;</p>

<p style="margin: 0"></p>

<ix:exclude><!-- Field: Page; Sequence: 126; Value: 2 -->
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    <!-- Field: /Page --></ix:exclude>

<p style="margin: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_ecustom--PercentageOfConsiderationReceived_iI_pid_dp_uPure_c20220630__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember_zrmkN2Mu7vJ4" title="Percentage of consideration received"><ix:nonFraction name="OPTI:PercentageOfConsiderationReceived" contextRef="AsOf2022-06-30_custom_DisperSolarLLCMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">5.7</ix:nonFraction></span>%
    of the next $<span id="xdx_902_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20220630__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember_zcfZW4AVo36l" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2022-06-30_custom_DisperSolarLLCMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">100</ix:nonFraction></span> million of the Strategic Transaction Consideration (i.e. over $<span id="xdx_90C_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20220630__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember__srt--RangeAxis__srt--MinimumMember_zpi1GnPMYfQk" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2022-06-30_custom_DisperSolarLLCMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">50</ix:nonFraction></span> million and up to $<span id="xdx_902_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20220630__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember__srt--RangeAxis__srt--MaximumMember_zjlUzioDmMMf" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2022-06-30_custom_DisperSolarLLCMember_srt_MaximumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">150</ix:nonFraction></span> million);</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_ecustom--PercentageOfConsiderationReceived_iI_pid_dp_uPure_c20220630__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember__srt--RangeAxis__srt--MaximumMember_zLVrI4fvx2U7" title="Percentage of consideration received"><ix:nonFraction name="OPTI:PercentageOfConsiderationReceived" contextRef="AsOf2022-06-30_custom_DisperSolarLLCMember_srt_MaximumMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">7.6</ix:nonFraction></span>%
    of Strategic Transaction Consideration over $<span id="xdx_90D_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20220630__us-gaap--BusinessAcquisitionAxis__custom--DisperSolarLLCMember__srt--RangeAxis__srt--MaximumMember_z9tMNialmc94" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2022-06-30_custom_DisperSolarLLCMember_srt_MaximumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">150</ix:nonFraction></span> million.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Inventor
Royalty (Related Party)</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July 5, 2019, the Company and Nicholas Booth (&#8220;Mr. Booth&#8221;) entered into a Royalty Agreement. Mr. Booth is a member of Dispersolar,
LLC and a named inventor of the acquired patents from Dispersolar, LLC discussed above. Effective July 1, 2021, Mr. Booth was employed
by the Company as its Chief Technology Officer.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company will pay Mr. Booth a percentage of all License Consideration received by the Company as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
Once the Company has paid to DisperSolar an aggregate amount in royalties of $<span id="xdx_90D_eus-gaap--RoyaltyExpense_pn6n6_c20220101__20220630__srt--TitleOfIndividualAxis__custom--MrBoothMember_zGQ1OCOoneRh" title="Royalty expense"><ix:nonFraction name="us-gaap:RoyaltyExpense" contextRef="From2022-01-012022-06-30_custom_MrBoothMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">30</ix:nonFraction></span> million under the Agreement, the Company will pay to
Booth a percentage of all royalties on sales of Covered Products at a rate of <span id="xdx_903_ecustom--ConcentrationRiskPercentage_pid_dp_uPure_c20220101__20220630__srt--TitleOfIndividualAxis__custom--MrBoothMember_zWhA5FHF1287" title="Concentration risk, percentage"><ix:nonFraction name="OPTI:ConcentrationRiskPercentage" contextRef="From2022-01-012022-06-30_custom_MrBoothMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">0.25</ix:nonFraction></span>% of Gross Margin until the earlier of (x) such time
as Covered Products are not covered by any claims of any Assigned Patent, and (y) the date of the consummation of a Strategic Transaction.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
Opti-Harvest will pay to Booth a percentage of all License Consideration received by the Company on the same terms as payable by the
Company to DisperSolar under the Agreement, except that the percentages of License Consideration due to Booth shall be as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_ecustom--PercentageOfConsiderationReceived_iI_pid_dp_uPure_c20220630__srt--TitleOfIndividualAxis__custom--MrBoothMember__srt--ProductOrServiceAxis__us-gaap--LicenseMember_zuNbGhDugeZ1" title="Percentage of consideration received"><ix:nonFraction name="OPTI:PercentageOfConsiderationReceived" contextRef="AsOf2022-06-30_custom_MrBoothMember_us-gaap_LicenseMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">0.4</ix:nonFraction></span>%
    of all License Consideration received by Opti-Harvest until the date of consummation of a Strategic Transaction;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_ecustom--PercentageOfConsiderationReceived_iI_pid_dp_uPure_c20220630__srt--TitleOfIndividualAxis__custom--MrBoothMember__srt--RangeAxis__srt--MinimumMember_zVujt7mh4l6g" title="Percentage of consideration received"><ix:nonFraction name="OPTI:PercentageOfConsiderationReceived" contextRef="AsOf2022-06-30_custom_MrBoothMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">0.2</ix:nonFraction></span>%
    of the first $<span id="xdx_90F_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20220630__srt--TitleOfIndividualAxis__custom--MrBoothMember__srt--RangeAxis__srt--MinimumMember_zEZYqtB2VXO6" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2022-06-30_custom_MrBoothMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">50</ix:nonFraction></span> million of the Strategic Transaction Consideration;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_ecustom--PercentageOfConsiderationReceived_iI_pid_dp_uPure_c20220630__srt--TitleOfIndividualAxis__custom--MrBoothMember_zgG2qnhnXA81" title="Percentage of consideration received"><ix:nonFraction name="OPTI:PercentageOfConsiderationReceived" contextRef="AsOf2022-06-30_custom_MrBoothMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">0.3</ix:nonFraction></span>%
    of the next $<span id="xdx_908_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20220630__srt--TitleOfIndividualAxis__custom--MrBoothMember_ztIKfexpYZuh" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2022-06-30_custom_MrBoothMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">100</ix:nonFraction></span> million of the Strategic Transaction Consideration (i.e. over $<span id="xdx_909_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20220630__srt--TitleOfIndividualAxis__custom--MrBoothMember__srt--RangeAxis__srt--MinimumMember_zJ3dV4ZVSKD3" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2022-06-30_custom_MrBoothMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">50</ix:nonFraction></span> million and up to $<span id="xdx_900_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20220630__srt--TitleOfIndividualAxis__custom--MrBoothMember__srt--RangeAxis__srt--MaximumMember_zLOBPqjlLH0h" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2022-06-30_custom_MrBoothMember_srt_MaximumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">150</ix:nonFraction></span> million); and</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_ecustom--PercentageOfConsiderationReceived_iI_pid_dp_uPure_c20220630__srt--TitleOfIndividualAxis__custom--MrBoothMember__srt--RangeAxis__srt--MaximumMember_znU9hwRSZ6aj" title="Percentage of consideration received"><ix:nonFraction name="OPTI:PercentageOfConsiderationReceived" contextRef="AsOf2022-06-30_custom_MrBoothMember_srt_MaximumMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">0.4</ix:nonFraction></span>%
    of Strategic Transaction Consideration over $<span id="xdx_90E_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn6n6_c20220630__srt--TitleOfIndividualAxis__custom--MrBoothMember__srt--RangeAxis__srt--MaximumMember_zj6DostSLmV9" title="Strategic transaction consideration"><ix:nonFraction name="us-gaap:BusinessAcquisitionCostOfAcquiredEntityTransactionCosts" contextRef="AsOf2022-06-30_custom_MrBoothMember_srt_MaximumMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">150</ix:nonFraction></span> million.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of June 30, 2022 and December 31, 2021, no amounts were due for earnouts or royalties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Both
Yosepha Shahak Ravid and Nicholas Booth are members of the Seller, and are named inventors of the acquired patents from the Seller, discussed
above. Effective July 1, 2021, Ms. Shahak Ravid, our Chief Science Officer, and Mr. Booth, our Chief Technology Officer, were employed
by the Company.</span></p>
<!-- Field: Split-Segment; Name: 004 -->
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="OPTI:SeniorConvertibleNotesPayableAndWarrantsTextBlock"><p id="xdx_808_ecustom--SeniorConvertibleNotesPayableAndWarrantsTextBlock_z1V2DemoTuNf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
6 &#8211; <span id="xdx_824_zpDjHRDPNBnc">Senior Convertible Notes Payable and Warrants</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ScheduleOfDebtTableTextBlock"><p id="xdx_89E_eus-gaap--ScheduleOfDebtTableTextBlock_zGrfuuLq1Qpb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Senior
convertible notes payable is comprised of the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;<span id="xdx_8B5_zZUtTtIDpull" style="display: none">Schedule of Senior Convertible Notes Payable</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="display: none; vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_498_20220630__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorNotesMember_zIe1ipb9KDZd" style="border-bottom: Black 1.5pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_491_20211231__us-gaap--LongtermDebtTypeAxis__us-gaap--SeniorNotesMember_z0Tu5pLeczSi" style="border-bottom: Black 1.5pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr id="xdx_401_ecustom--ConvertibleNotesPayableGross_iI_maCNPCze0i_zkFUkTUsJrZ3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 60%; text-align: left">Senior convertible notes payable</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><ix:nonFraction name="OPTI:ConvertibleNotesPayableGross" contextRef="AsOf2022-06-30_us-gaap_SeniorNotesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,591,000</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><ix:nonFraction name="OPTI:ConvertibleNotesPayableGross" contextRef="AsOf2021-12-31_us-gaap_SeniorNotesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,591,000</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr id="xdx_406_eus-gaap--DebtInstrumentUnamortizedDiscountCurrent_iNI_di_msCNPCze0i_zo97xc3fLJoj" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt">Less debt discount</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:DebtInstrumentUnamortizedDiscountCurrent" contextRef="AsOf2022-06-30_us-gaap_SeniorNotesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">819,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction name="us-gaap:DebtInstrumentUnamortizedDiscountCurrent" contextRef="AsOf2021-12-31_us-gaap_SeniorNotesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,326,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr id="xdx_40E_eus-gaap--ConvertibleNotesPayableCurrent_iTI_mtCNPCze0i_zskXVaMmgHTl" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 2.5pt">Total senior convertible notes payable, net</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:ConvertibleNotesPayableCurrent" contextRef="AsOf2022-06-30_us-gaap_SeniorNotesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,772,000</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:ConvertibleNotesPayableCurrent" contextRef="AsOf2021-12-31_us-gaap_SeniorNotesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,265,000</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8AA_zRizuce00vQ" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021, the Company sold approximately $<span id="xdx_902_eus-gaap--NotesIssued1_c20210101__20211231__us-gaap--LongtermDebtTypeAxis__custom--SeniorConvertiblePromissoryNotesMember_zbVHOPvs7Py9" title="Notes Issued"><ix:nonFraction name="us-gaap:NotesIssued1" contextRef="From2021-01-012021-12-31_custom_SeniorConvertiblePromissoryNotesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,591,000</ix:nonFraction></span> of Senior Convertible Promissory Notes (the &#8220;Notes&#8221;)
and <span id="xdx_900_eus-gaap--ProceedsFromIssuanceOfWarrants_c20210101__20211231_zljaG5zME4mc" title="Proceeds from warrants"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfWarrants" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,591,235</ix:nonFraction></span> warrants (the &#8220;Warrants&#8221;). The Company received net proceeds of $<span id="xdx_900_eus-gaap--ProceedsFromIssuanceOfDebt_c20210101__20211231_zb7OZZNejLNg" title="Proceeds from issuance of debt"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfDebt" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,034,000</ix:nonFraction></span> after deducting an original issue
discount of <span id="xdx_90F_eus-gaap--DebtInstrumentRedemptionPricePercentage_pid_dp_uPure_c20210101__20211231_zG2TmwoGKRBj" title="Debt instrument redemption price percentage"><ix:nonFraction name="us-gaap:DebtInstrumentRedemptionPricePercentage" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">15</ix:nonFraction></span>%, or $<span id="xdx_908_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20211231_zarPVGfBlrY5" title="Debt Instrument, Unamortized Discount"><ix:nonFraction name="us-gaap:DebtInstrumentUnamortizedDiscount" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">539,000</ix:nonFraction></span>, and legal fees of $<span id="xdx_90C_eus-gaap--LegalFees_c20210101__20211231_zfclYwrKRVI2" title="Legal fees"><ix:nonFraction name="us-gaap:LegalFees" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">18,000</ix:nonFraction></span>, which was recorded as a debt discount. Each Warrant is exercisable at a price
(the &#8220;Exercise Price&#8221;) equal to <span id="xdx_90C_ecustom--WarrantsExercisablePricePercentage_pid_dp_uPure_c20210101__20211231_zIIrpF7JDuie" title="Warrants exercisable price percentage"><ix:nonFraction name="OPTI:WarrantsExercisablePricePercentage" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">115</ix:nonFraction></span>% of its initial public offering price, currently estimated to be $<span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zkGXy7RsHCPf" title="Warrants exercise price"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2021-12-31_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.00</ix:nonFraction></span> per share. The
Company determined the fair value of the Warrants to be approximately $<span id="xdx_90A_eus-gaap--FairValueAdjustmentOfWarrants_pn5n6_c20210101__20211231_zXC2IpGSKP0b" title="Fair value of warrants"><ix:nonFraction name="us-gaap:FairValueAdjustmentOfWarrants" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">13.6</ix:nonFraction></span> million of which the relative fair value of $<span id="xdx_904_eus-gaap--LongTermDebtFairValue_iI_pn5n6_c20211231_zMZK4tOPdrRl" title="Fair value of debt"><ix:nonFraction name="us-gaap:LongTermDebtFairValue" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">2.5</ix:nonFraction></span> million
was allocated and recorded as a component of debt discount. There were no transactions related to the principal balance of the Notes
during 2022, and as such, balance of the Notes at June 30, 2022 was $<span id="xdx_906_eus-gaap--NotesIssued1_c20220101__20220630__us-gaap--LongtermDebtTypeAxis__custom--SeniorConvertiblePromissoryNotesMember_zU5JGneVFQA5" title="Notes issued"><ix:nonFraction name="us-gaap:NotesIssued1" contextRef="From2022-01-012022-06-30_custom_SeniorConvertiblePromissoryNotesMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,591,000</ix:nonFraction></span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
holder of the Warrants shall have the right to purchase up to the number of shares that equals the quotient obtained by dividing: (i)
the Warrant Coverage Amount, by (ii) the Conversion Price. The &#8220;Warrant Coverage Amount&#8221; shall mean the amount obtained by
multiplying: (A) one hundred percent (100%); by (B) aggregate principal amount of the Holder&#8217;s Note(s). The conversion price in
effect on any Conversion Date shall be equal to <span id="xdx_901_ecustom--PercentageOfCommonStockPurchasePrice_pid_dp_uPure_c20220101__20220630_zyRGpoosv17e" title="Percentage of common stock purchase price"><ix:nonFraction name="OPTI:PercentageOfCommonStockPurchasePrice" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">80</ix:nonFraction></span>% of the offering price per share of common stock in our initial public offering.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<ix:exclude><!-- Field: Page; Sequence: 127; Value: 2 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
Note is convertible, in the sole discretion of the holder of the Note, into shares of our common stock at a purchase price equal to <span id="xdx_904_ecustom--PercentageOfCommonStockPurchasePrice_pid_dp_uPure_c20210101__20211231_zE6zw5vLdmUa" title="Percentage of common stock purchase price"><ix:nonFraction name="OPTI:PercentageOfCommonStockPurchasePrice" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">80</ix:nonFraction></span>%
of the offering price of the initial public offering price currently estimated to be $<span id="xdx_903_eus-gaap--SharePrice_iI_pid_c20211231__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zSQ2stYqIndg" title="Share Price"><ix:nonFraction name="us-gaap:SharePrice" contextRef="AsOf2021-12-31_us-gaap_IPOMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.00</ix:nonFraction></span> per share. Each Note, issued at an original
issue discount of <span id="xdx_90D_eus-gaap--DebtInstrumentRedemptionPricePercentage_pid_dp_uPure_c20210101__20211231_zEYBmYKvngQi" title="Debt instrument redemption price percentage"><ix:nonFraction name="us-gaap:DebtInstrumentRedemptionPricePercentage" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">15</ix:nonFraction></span>%, carries interest at a rate of <span id="xdx_905_eus-gaap--DebtWeightedAverageInterestRate_iI_pid_dp_uPure_c20211231_zPzo48lpdWeb" title="Debt, weighted average interest rate"><ix:nonFraction name="us-gaap:DebtWeightedAverageInterestRate" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">12</ix:nonFraction></span>% per annum, and any interest payable under the Note shall automatically accrue
and be capitalized to the principal amount of the Note, and shall thereafter be deemed to be a part of the principal amount of the Note,
unless such interest is paid in cash on or prior to the maturity date of the Note.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Notes mature <span id="xdx_903_eus-gaap--LongTermDebtTerm_iI_dtM_c20211231_zKqFRbUFP7z6" title="Long-term debt, term"><ix:nonNumeric contextRef="AsOf2021-12-31" format="ixt-sec:durmonth" name="us-gaap:LongTermDebtTerm">12</ix:nonNumeric></span> months from the date of the Notes, provided, however, that noteholders have the right to call the Notes prior to maturity
starting from the earlier of (i) the consummation of the first underwritten public offering pursuant to an effective registration statement
under the Securities Act of 1933, as amended, covering the offer and sale by the Company of not less than $<span id="xdx_90C_eus-gaap--DebtAndEquitySecuritiesGainLoss_pn6n6_c20210101__20211231_zAzFaAfS2hih" title="Gain loss on equity securities"><ix:nonFraction name="us-gaap:DebtAndEquitySecuritiesGainLoss" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">10</ix:nonFraction></span> million of its equity securities,
as a result of or following which common stock shall be listed on the Nasdaq Stock Market, and (ii) <span id="xdx_900_eus-gaap--DebtInstrumentDescription_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zqyDLKlkdBc" title="Debt Instrument, Description"><ix:nonNumeric contextRef="From2021-01-012021-12-31_us-gaap_WarrantMember21114875" name="us-gaap:DebtInstrumentDescription">December 15, 2021. Additionally,
each Warrant contains a cashless exercise provision, which is effective if the shares underlying the Warrant are not covered by a registration
statement 6 months from the date of issuance of the Warrant.</ix:nonNumeric></span> On May 16, 2022, the Company entered into an amendment to extend the right
to call provision in its senior secured convertible notes from December 15, 2021 to June 15, 2022, in exchange for issuing its senior
convertible note holders an aggregate of <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20220515__20220516__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--RelatedPartyTransactionAxis__custom--SeniorConvertibleNoteHoldersMember_z59DbJ4BM4F" title="Aggregate shares of common stock"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-05-152022-05-16_us-gaap_CommonStockMember_custom_SeniorConvertibleNoteHoldersMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">203,503</ix:nonFraction></span> shares of common stock with a fair value of approximately $<span id="xdx_907_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20220515__20220516__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--RelatedPartyTransactionAxis__custom--SeniorConvertibleNoteHoldersMember_zlbZDgJ6sMj4" title="Aggregate value of common stock"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2022-05-152022-05-16_us-gaap_CommonStockMember_custom_SeniorConvertibleNoteHoldersMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">611,000</ix:nonFraction></span> at the date of grant,
or $<span id="xdx_907_eus-gaap--SharePrice_iI_pid_c20220516__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--RelatedPartyTransactionAxis__custom--SeniorConvertibleNoteHoldersMember_zuzltrlr4s35" title="Share Price"><ix:nonFraction name="us-gaap:SharePrice" contextRef="AsOf2022-05-16_us-gaap_CommonStockMember_custom_SeniorConvertibleNoteHoldersMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.00</ix:nonFraction></span> per common share. The $<span id="xdx_908_ecustom--FinancingCosts_c20220101__20220630_zqz7X7xxOD5i" title="Financing Costs"><ix:nonFraction name="OPTI:FinancingCosts" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">611,000</ix:nonFraction></span> was recorded as a financing cost, a component of other expense, in the accompanying condensed
statements of operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_eus-gaap--ClassOfWarrantOrRightReasonForIssuingToNonemployees_c20220101__20220630_zfkGTYTd2Pt" title="Warrants description"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="us-gaap:ClassOfWarrantOrRightReasonForIssuingToNonemployees">The
shares of common stock underlying the Notes and the Warrants are subject to registration rights, and such shares must be registered within
90 days after the effectiveness of the Company&#8217;s initial public offering. If the Company fails to register the shares within 90
days, the Company agreed to pay a penalty of a cash payment equal to 0.02857% of the principal amount and interest due and owing under
any Note held by the Holder or that number shares of common stock of the Company equal 1% of the shares of common stock underlying any
Note and Warrant held by the Holder, in total amount per week paid in, whichever is greater.</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
Note and Warrant holder has (i) the right of first refusal to purchase up to <span id="xdx_90F_ecustom--PercentageOfProrataSecurities_pid_dp_uPure_c20220101__20220630_zKHkMYrB2yde" title="Percentage of prorata securities"><ix:nonFraction name="OPTI:PercentageOfProrataSecurities" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">20</ix:nonFraction></span>% of its pro rata share of new securities the that company
offers, which right expires upon the consummation of an underwritten initial public offering by the Company or a change in control of
the Company, and (ii) the right to be repaid any and all principal and interest due by the Company from any and all proceeds resulting
from any sale of assets and any sale and issuance of debt or equity securities.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
total of the original issue discount of $<span id="xdx_903_eus-gaap--CommonStockDiscountOnShares_iI_c20211231__srt--TitleOfIndividualAxis__custom--WarrantHolderMember_z972i93xuPBf" title="Original issue discount"><ix:nonFraction name="us-gaap:CommonStockDiscountOnShares" contextRef="AsOf2021-12-31_custom_WarrantHolderMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">539,000</ix:nonFraction></span>, legal fees of $<span id="xdx_904_eus-gaap--LegalFees_c20210101__20211231__srt--TitleOfIndividualAxis__custom--WarrantHolderMember_zoQguzF5koq6" title="Legal fees"><ix:nonFraction name="us-gaap:LegalFees" contextRef="From2021-01-012021-12-31_custom_WarrantHolderMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">18,000</ix:nonFraction></span>, and the allocated relative fair value of warrants issued of
$<span id="xdx_904_eus-gaap--FairValueAdjustmentOfWarrants_pn5n6_c20210101__20211231__srt--TitleOfIndividualAxis__custom--WarrantHolderMember_zLDZ7MwgrCCa" title="Fair value of warrants"><ix:nonFraction name="us-gaap:FairValueAdjustmentOfWarrants" contextRef="From2021-01-012021-12-31_custom_WarrantHolderMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">2.5</ix:nonFraction></span> million, or an aggregate of $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceOfWarrants_pn6n6_c20210101__20211231__srt--TitleOfIndividualAxis__custom--WarrantHolderMember_zXmXDXGtuegf" title="Proceeds from warrants"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfWarrants" contextRef="From2021-01-012021-12-31_custom_WarrantHolderMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">3.0</ix:nonFraction></span> million, were capitalized and recorded as a debt discount and are amortized over the remaining
life of the Notes. The remaining unamortized debt discount balance was $<span id="xdx_906_eus-gaap--AdjustmentForAmortization_pn5n6_c20210101__20211231__srt--TitleOfIndividualAxis__custom--WarrantHolderMember_zZ20l2KAhyXl" title="Remaining unamortized discount"><ix:nonFraction name="us-gaap:AdjustmentForAmortization" contextRef="From2021-01-012021-12-31_custom_WarrantHolderMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">2.3</ix:nonFraction></span> million as of December 31, 2021. Amortization of debt discount
was approximately $<span id="xdx_904_eus-gaap--AmortizationOfDebtDiscountPremium_pn5n6_c20220101__20220630__srt--TitleOfIndividualAxis__custom--WarrantHolderMember_zlOkbwrlD7S" title="Amortization of debt discount"><ix:nonFraction name="us-gaap:AmortizationOfDebtDiscountPremium" contextRef="From2022-01-012022-06-30_custom_WarrantHolderMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">1.5</ix:nonFraction></span> million for the six months ended June 30, 2022, which was recorded as a component of interest expense in the accompanying
condensed statement of operations. The remaining unamortized debt discount balance was $<span id="xdx_900_eus-gaap--AdjustmentForAmortization_c20220101__20220630__srt--TitleOfIndividualAxis__custom--WarrantHolderMember_zNf51QHr9ZL" title="Remaining unamortized discount"><ix:nonFraction name="us-gaap:AdjustmentForAmortization" contextRef="From2022-01-012022-06-30_custom_WarrantHolderMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">819,000</ix:nonFraction></span> as of June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accrued interest balance was $<span id="xdx_906_eus-gaap--InterestPayableCurrent_iI_c20211231_zk4CLo3npyX8" title="Accrued interest"><ix:nonFraction name="us-gaap:InterestPayableCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">101,000</ix:nonFraction></span> at December 31, 2021. During the six months ended June 30, 2022, the Company added $<span id="xdx_90B_eus-gaap--IncreaseDecreaseInInterestPayableNet_c20220101__20220630_zGZIdpc9b4e4" title="Changes in interest payable"><ix:nonFraction name="us-gaap:IncreaseDecreaseInInterestPayableNet" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">214,000</ix:nonFraction></span> of
accrued interest, leaving an accrued interest balance of $<span id="xdx_90A_eus-gaap--InterestPayableCurrent_iI_c20220630_zcJqKprD2bmd" title="Accrued interest"><ix:nonFraction name="us-gaap:InterestPayableCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">315,000</ix:nonFraction></span> at June 30, 2022. Accrued interest in included in accounts payable
and accrued expenses in the accompanying condensed balance sheets.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of June 30, 2022, <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220101__20220630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--SeniorNotesMember_zasyQTJMdgGc" title="Number of shares of common stock"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-01-012022-06-30_us-gaap_SeniorNotesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,627,522</ix:nonFraction></span> shares of common stock were potentially issuable under the conversion terms of the Notes.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="OPTI:LoanPayableTextBlock"><p id="xdx_800_ecustom--LoanPayableTextBlock_z38qRBJtZ6te" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
7 &#8211; <span id="xdx_828_zWh9YhgkCAHb">Loans payable</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ScheduleOfShortTermDebtTextBlock"><p id="xdx_89F_eus-gaap--ScheduleOfShortTermDebtTextBlock_zzhiuazD4WX2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loans
payable is comprised of the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span><span id="xdx_8B7_zEj29LvKYTBd" style="display: none">Schedule
of Loans  Payable</span></span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="display: none; vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_49C_20220630_z9dDz7yYOznc" style="border-bottom: Black 1.5pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_498_20211231_zQp6hTb0vmT2" style="border-bottom: Black 1.5pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
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    <td style="width: 60%; text-align: left">Loans payable</td><td style="width: 2%">&#160;</td>
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  <tr id="xdx_40D_eus-gaap--LoansPayableCurrent_iNI_di_zjgvd4E30tYa" style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt">Less current portion</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr id="xdx_40D_eus-gaap--LongTermLoansPayable_iI_zhAdwuyeRVn1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 2.5pt">Noncurrent portion</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:LongTermLoansPayable" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">63,000</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
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</ix:nonNumeric><p id="xdx_8A6_zOc7oAGF6Uv3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
November 20, 2020, the Company financed the purchase of a vehicle for $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_c20201120__us-gaap--LongtermDebtTypeAxis__us-gaap--LoansPayableMember_zDo67r45x8v" title="Principal amount"><ix:nonFraction name="us-gaap:DebtInstrumentFaceAmount" contextRef="AsOf2020-11-20_us-gaap_LoansPayableMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">40,000</ix:nonFraction></span>. The loan term is for <span id="xdx_909_eus-gaap--DebtInstrumentTerm_dtM_c20201119__20201120__us-gaap--LongtermDebtTypeAxis__us-gaap--LoansPayableMember_z131i9K1J4o" title="Debt instrument, term"><ix:nonNumeric contextRef="From2020-11-192020-11-20_us-gaap_LoansPayableMember" format="ixt-sec:durmonth" name="us-gaap:DebtInstrumentTerm">59</ix:nonNumeric></span> months, annual interest rate of
<span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20201120__us-gaap--LongtermDebtTypeAxis__us-gaap--LoansPayableMember_zQ9kDU3yRJNg" title="Debt interest rate"><ix:nonFraction name="us-gaap:DebtInstrumentInterestRateStatedPercentage" contextRef="AsOf2020-11-20_us-gaap_LoansPayableMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">4.49</ix:nonFraction></span>%, with monthly principal and interest payments of $<span id="xdx_908_eus-gaap--DebtInstrumentPeriodicPayment_c20201119__20201120__us-gaap--LongtermDebtTypeAxis__us-gaap--LoansPayableMember_z1SYgpEiANtk" title="Debt principal and interest payments"><ix:nonFraction name="us-gaap:DebtInstrumentPeriodicPayment" contextRef="From2020-11-192020-11-20_us-gaap_LoansPayableMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">745</ix:nonFraction></span>, and secured by the purchased vehicle. The loan balance was $<span id="xdx_902_eus-gaap--LoansPayable_iI_c20211231_zzqOTbaxdZyb" title="Loans payable"><ix:nonFraction name="us-gaap:LoansPayable" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">33,000</ix:nonFraction></span> at December
31, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
January 20, 2022, the Company financed the purchase of second vehicle for $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_c20220120__us-gaap--FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis__us-gaap--AutomobileLoanMember_zSYDScagK8k7" title="Principal amount"><ix:nonFraction name="us-gaap:DebtInstrumentFaceAmount" contextRef="AsOf2022-01-20_us-gaap_AutomobileLoanMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">49,000</ix:nonFraction></span>. The loan term is for <span id="xdx_903_eus-gaap--DebtInstrumentTerm_dtM_c20220119__20220120__us-gaap--FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis__us-gaap--AutomobileLoanMember_zQIWDpDuMXu4" title="Debt instrument, term"><ix:nonNumeric contextRef="From2022-01-192022-01-20_us-gaap_AutomobileLoanMember" format="ixt-sec:durmonth" name="us-gaap:DebtInstrumentTerm">71</ix:nonNumeric></span> months, annual interest rate
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June 30, 2022, the Company made principal payments of $<span id="xdx_90B_eus-gaap--DebtInstrumentPeriodicPaymentPrincipal_c20220101__20220630__us-gaap--LongtermDebtTypeAxis__us-gaap--LoansPayableMember_zj61yO42l0Ok" title="Debt principal payments"><ix:nonFraction name="us-gaap:DebtInstrumentPeriodicPaymentPrincipal" contextRef="From2022-01-012022-06-30_us-gaap_LoansPayableMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,000</ix:nonFraction></span>, leaving a loan balance of $<span id="xdx_905_eus-gaap--LoansPayable_iI_c20220630_zqkTd5U5N9p5" title="Loans payable"><ix:nonFraction name="us-gaap:LoansPayable" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">76,000</ix:nonFraction></span> at June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:StockholdersEquityNoteDisclosureTextBlock"><p id="xdx_804_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zA5pjiU8eLs6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
8 &#8211; <span id="xdx_823_zNCmSJT8mUBe">Shareholders&#8217; Equity (Deficit)</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Common
Shares Issued on Exercise of Warrants</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the six months ended June 30, 2022, the Company temporarily reduced the exercise price of certain warrants issued as part of the Company&#8217;s
$<span id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z8TbKfOAUY6i" title="Exercise price of certain warrants"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2022-06-30_us-gaap_CommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> private offering, described below, from $<span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20220630__srt--RangeAxis__srt--MaximumMember_zGrnao845DW5"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2022-06-30_srt_MaximumMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.00</ix:nonFraction></span> per share to $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20220630__srt--RangeAxis__srt--MinimumMember_znvKiWQtAcPh"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2022-06-30_srt_MinimumMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share. The Company received proceeds of approximately $<span id="xdx_901_eus-gaap--ProceedsFromIssuanceOfWarrants_pn5n6_c20220101__20220630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zzvnSdQZrxAg" title="Proceeds from warrants"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfWarrants" contextRef="From2022-01-012022-06-30_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">1.5</ix:nonFraction></span>
million on the exercise of <span id="xdx_90C_ecustom--CommonStockWarrantShare_iI_c20220630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zXFU2roepD1l"><ix:nonFraction name="OPTI:CommonStockWarrantShare" contextRef="AsOf2022-06-30_us-gaap_PrivatePlacementMember_us-gaap_CommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">740,250</ix:nonFraction></span> warrants for the purchase of <span id="xdx_90B_ecustom--CommonStockWarrantShare_iI_c20220630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zHONT6Cl091b"><ix:nonFraction name="OPTI:CommonStockWarrantShare" contextRef="AsOf2022-06-30_us-gaap_PrivatePlacementMember_us-gaap_CommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">740,250</ix:nonFraction></span> shares of common stock, at exercise price of $<span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zMowTXCNWmTj"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2022-06-30_us-gaap_PrivatePlacementMember_us-gaap_CommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Common
Shares Issued on Private Offerings</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the six months ended June 30, 2022, the Company received net proceeds of approximately $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_c20220101__20220630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_z03qubIX5hkc"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfPrivatePlacement" contextRef="From2022-01-012022-06-30_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">195,000</ix:nonFraction></span> on the sale of <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220101__20220630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zdjcSoq6kVsc"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-01-012022-06-30_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">65,000</ix:nonFraction></span> shares of common
stock at $<span id="xdx_904_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20220630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zCgfgFuY21Sj"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2022-06-30_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.00</ix:nonFraction></span> per share, as part of its private offerings. As part of the Company&#8217;s $<span id="xdx_904_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20220630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zp3dWyuS2cig"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2022-06-30_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.00</ix:nonFraction></span> private offering, each participating
shareholder is entitled to a warrant to purchase up to fifty percent (50%) of the number of common shares purchased, at $<span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zCH4EnBqzBa4"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2022-06-30_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">4.00</ix:nonFraction></span> per share,
and which expires on <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20220101__20220630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zWEe2PwYcM9b" title="Warrant expires date"><ix:nonNumeric contextRef="From2022-01-012022-06-30_us-gaap_PrivatePlacementMember" format="ixt:datemonthdayyearen" name="us-gaap:ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable">December 31, 2023</ix:nonNumeric></span>. As such, the Company issued <span id="xdx_90A_ecustom--CommonStockWarrantShare_iI_c20220630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zPx5Skpuocw8"><ix:nonFraction name="OPTI:CommonStockWarrantShare" contextRef="AsOf2022-06-30_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">32,500</ix:nonFraction></span> warrants during the period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the six months ended June 30, 2021, the Company received net proceeds of approximately $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20210101__20210630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zl5xeWJZbXv1"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfCommonStock" contextRef="From2021-01-012021-06-30_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">4.8</ix:nonFraction></span> million on the sale of <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210101__20210630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zegA1p3oyHb6"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-01-012021-06-30_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,372,000</ix:nonFraction></span> shares of
common stock at $<span id="xdx_90E_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20210630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zpEqPS5pYNNb"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-06-30_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share, as part of its private offerings. As part of the Company&#8217;s $<span id="xdx_900_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20210630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zkJI3oK6lO6e"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2021-06-30_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> private offering, each participating
shareholder is entitled to a warrant to purchase up to fifty percent (50%) of the number of common shares purchased, at $<span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20210630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zTydAScw8q2i"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2021-06-30_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.00</ix:nonFraction></span> per share,
and which expires on <span id="xdx_901_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_dd_c20210101__20210630__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zgzVXXtnNxlh"><ix:nonNumeric contextRef="From2021-01-012021-06-30_us-gaap_PrivatePlacementMember" format="ixt:datemonthdayyearen" name="us-gaap:ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable">December 31, 2022</ix:nonNumeric></span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Common
Shares Issued for Financing Costs</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 16, 2022, the Company entered into an amendment (see Note 6) to extend the call provisions in its senior secured convertible notes
to June 15, 2022, in exchange for issuing its senior convertible note holders an aggregate of <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20220515__20220516__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--RelatedPartyTransactionAxis__custom--SeniorConvertibleNoteHoldersMember_zrkqTbZL3KXi" title="Aggregate shares of common stock"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-05-152022-05-16_us-gaap_CommonStockMember_custom_SeniorConvertibleNoteHoldersMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">203,503</ix:nonFraction></span> shares of common stock with a fair
value of approximately $<span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20220515__20220516__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--RelatedPartyTransactionAxis__custom--SeniorConvertibleNoteHoldersMember_zArLCCwHGpG" title="Aggregate value of common stock"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2022-05-152022-05-16_us-gaap_CommonStockMember_custom_SeniorConvertibleNoteHoldersMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">611,000</ix:nonFraction></span> at the date of grant, or $<span id="xdx_90B_eus-gaap--SharePrice_iI_pid_c20220516__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--RelatedPartyTransactionAxis__custom--SeniorConvertibleNoteHoldersMember_zRYtPG3zgBF6" title="Share Price"><ix:nonFraction name="us-gaap:SharePrice" contextRef="AsOf2022-05-16_us-gaap_CommonStockMember_custom_SeniorConvertibleNoteHoldersMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.00</ix:nonFraction></span> per common share. The $<span id="xdx_901_ecustom--FinancingCosts_c20220101__20220630_z6CBZHTMPXAk" title="Financing Costs"><ix:nonFraction name="OPTI:FinancingCosts" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">611,000</ix:nonFraction></span> was recorded as a financing cost, a component
of other expense, in the accompanying condensed statements of operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Common
Shares Issued for Services</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the six months ended June 30, 2022, the Company entered into various consulting agreements with third parties (&#8220;Consultants&#8221;)
pursuant to which these Consultants provided business development, sales promotion, introduction to new business opportunities, strategic
analysis and sales and marketing activities. In addition, the Company issued shares to a director for board service. During the six months
ended June 30, 2022, the Company issued <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20220101__20220630_z6BGzaK29Ai9"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesIssuedForServices" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">122,500</ix:nonFraction></span> shares of common stock, with a fair value of approximately $<span id="xdx_907_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_pp0p0_c20220101__20220630__srt--TitleOfIndividualAxis__custom--ConsultantsMember_zmZgZpPxXaq5"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueIssuedForServices" contextRef="From2022-01-012022-06-30_custom_ConsultantsMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">368,000</ix:nonFraction></span> at date of grant
related to the consulting agreements. In addition, on March 18, 2022, the Company issued Kingdom Building, Inc. (&#8220;KBI&#8221;),
as part of a Termination Agreement and Release, <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20220101__20220630__srt--TitleOfIndividualAxis__custom--ConsultantsMember__dei--LegalEntityAxis__custom--KingdomBuildingIncMember__us-gaap--TypeOfArrangementAxis__custom--TerminationAgreementMember_zW9uc2Ml3L07"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesIssuedForServices" contextRef="From2022-01-012022-06-30_custom_ConsultantsMember_custom_KingdomBuildingIncMember_custom_TerminationAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">200,000</ix:nonFraction></span> shares of common stock, with a fair value of approximately $<span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_pp0p0_c20220101__20220630__srt--TitleOfIndividualAxis__custom--ConsultantsMember__dei--LegalEntityAxis__custom--KingdomBuildingIncMember__us-gaap--TypeOfArrangementAxis__custom--TerminationAgreementMember_zITwAUm97k9k"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueIssuedForServices" contextRef="From2022-01-012022-06-30_custom_ConsultantsMember_custom_KingdomBuildingIncMember_custom_TerminationAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">600,000</ix:nonFraction></span>. The Company
retained KBI on April 1, 2021, to advise, counsel and inform designated officers and employees of the Company as it relates to financial
markets, competitors, business acquisitions and other aspects of or concerning the Company&#8217;s business about which KBI has knowledge
or expertise.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<ix:exclude><!-- Field: Page; Sequence: 129; Value: 2 -->
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    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the six months ended June 30, 2021, the Company entered into various consulting agreements with third parties (&#8220;Consultants&#8221;)
pursuant to which these Consultants provided business development, sales promotion, introduction to new business opportunities, strategic
analysis and sales and marketing activities. In addition, the Company issued shares to a director for board service. During the six months
ended June 30, 2021, the Company issued <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20210101__20210630__srt--TitleOfIndividualAxis__custom--ConsultantsMember_zPTgwNYbdWU9"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesIssuedForServices" contextRef="From2021-01-012021-06-30_custom_ConsultantsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">826,000</ix:nonFraction></span> shares of common stock, with a fair value of approximately $<span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_pn5n6_c20210101__20210630__srt--TitleOfIndividualAxis__custom--ConsultantsMember_zuBEKjgySpTb"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueIssuedForServices" contextRef="From2021-01-012021-06-30_custom_ConsultantsMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">1.7</ix:nonFraction></span> million at date of grant.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary
of Restricted Stock Units</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 17, 2022, the Company granted an aggregate of <span id="xdx_90F_eus-gaap--SharesIssued_iI_c20220317__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--PlanNameAxis__custom--TwoThousandTwentyTwoStockIncentivePlanMember_zisdZSbW7c89" title="Shares issued"><ix:nonFraction name="us-gaap:SharesIssued" contextRef="AsOf2022-03-17_us-gaap_RestrictedStockUnitsRSUMember_custom_TwoThousandTwentyTwoStockIncentivePlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">200,000</ix:nonFraction></span> restricted stock units (RSU) to its employees and executives pursuant to the
Company&#8217;s 2022 Stock Incentive Plan, with an aggregate fair value of $<span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20220316__20220317__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--PlanNameAxis__custom--TwoThousandTwentyTwoStockIncentivePlanMember_zygBqsZYFTe"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2022-03-162022-03-17_us-gaap_RestrictedStockUnitsRSUMember_custom_TwoThousandTwentyTwoStockIncentivePlanMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">600,000</ix:nonFraction></span>, based on the Company&#8217;s current private offering
price. The RSUs vest on the earlier of twelve months from the date of grant, or a strategic transaction including the Company being acquired,
an initial public offering, or a liquidity event more than $<span id="xdx_904_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pn6n6_c20220316__20220317__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--PlanNameAxis__custom--TwoThousandTwentyTwoStockIncentivePlanMember_zMcq6SeHAC87" title="Proceeds from issuance initial public offering"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceInitialPublicOffering" contextRef="From2022-03-162022-03-17_us-gaap_RestrictedStockUnitsRSUMember_custom_TwoThousandTwentyTwoStockIncentivePlanMember" format="ixt:numdotdecimal" decimals="-6" scale="6" unitRef="USD">10</ix:nonFraction></span> million. As of June 30, 2022, <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_do_c20220101__20220630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--PlanNameAxis__custom--TwoThousandTwentyTwoStockIncentivePlanMember_zIhp08tyA6v" title="Number of share issued"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-01-012022-06-30_us-gaap_RestrictedStockUnitsRSUMember_custom_TwoThousandTwentyTwoStockIncentivePlanMember" format="ixt-sec:numwordsen" decimals="INF" unitRef="Shares">no</ix:nonFraction></span> shares of common stock were issued. During
the six months ended June 30, 2022, the Company recognized $<span id="xdx_906_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_c20220101__20220630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--PlanNameAxis__custom--TwoThousandTwentyTwoStockIncentivePlanMember_zQ5eFRTnHMBg"><ix:nonFraction name="us-gaap:EmployeeBenefitsAndShareBasedCompensation" contextRef="From2022-01-012022-06-30_us-gaap_RestrictedStockUnitsRSUMember_custom_TwoThousandTwentyTwoStockIncentivePlanMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">75,000</ix:nonFraction></span> of compensation expense relating to vested RSUs. As of June 30, 2022,
the aggregate amount of unvested compensation related to RSUs was approximately $<span id="xdx_906_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVested_iI_c20220630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--PlanNameAxis__custom--TwoThousandTwentyTwoStockIncentivePlanMember_zZmifxOftpT5" title="Share based payment options non vested"><ix:nonFraction name="OPTI:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVested" contextRef="AsOf2022-06-30_us-gaap_RestrictedStockUnitsRSUMember_custom_TwoThousandTwentyTwoStockIncentivePlanMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">525,000</ix:nonFraction></span> which will be recognized as an expense as the
options vest in future periods through May 17, 2023.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary
of Warrants</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock"><p id="xdx_898_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zlc1fS0i4HHh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zv7NLzdE0OFd" style="display: none">Summary
of Warrants</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Warrants granted</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td id="xdx_989_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageGrantDateFairValue_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zQ97Ko1QW1Dl" title="Weighted Average Exercise Price, granted" style="text-align: right"><ix:nonFraction name="OPTI:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageGrantDateFairValue" contextRef="From2022-01-012022-06-30_us-gaap_WarrantMember21118218" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">4.00</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Warrants exercised</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zYO9UpCIvoW4" title="Warrants exercised" style="text-align: right">(<ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised" contextRef="From2022-01-012022-06-30_us-gaap_WarrantMember21118218" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">740,250</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 1.5pt">Warrants expired or forfeited</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirationsWeightedAverageGrantDateFairValue_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zWETqrX8KuZe" title="Weighted Average Exercise Price, expired or forfeited" style="border-bottom: Black 1.5pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1997">-</span></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 2.5pt">Balance outstanding, June 30, 2022</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z0gWNj1tNjA9" title="Warrants, Balance outstanding" style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" contextRef="AsOf2022-06-30_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,870,610</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageGrantDateFairValue_iE_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z0EnbCUKnnC7" title="Weighted Average Exercise Price, Balance outstanding" style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="OPTI:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageGrantDateFairValue" contextRef="AsOf2022-06-30_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.28</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify; padding-bottom: 2.5pt">Balance exercisable, June 30, 2022</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingExercisableNumber_iE_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z2RNI9z11c32" title="Warrants, Balance exercisable" style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="OPTI:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingExercisableNumber" contextRef="AsOf2022-06-30_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,770,610</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableWeightedAverageGrantDateFairValue_iE_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zdjG466GqqLj" title="Weighted Average Exercise Price, Balance exercisable" style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="OPTI:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableWeightedAverageGrantDateFairValue" contextRef="AsOf2022-06-30_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.27</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8AA_zX8gZez9Pw3c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the six months ended June 30, 2022, the Company received proceeds of approximately $<span id="xdx_905_eus-gaap--ProceedsFromWarrantExercises_pn5n6_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z02kVYhY8443" title="Proceeds from warrant exercises"><ix:nonFraction name="us-gaap:ProceedsFromWarrantExercises" contextRef="From2022-01-012022-06-30_us-gaap_WarrantMember21118218" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">1.5</ix:nonFraction></span> million on the exercise of <span id="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zyV7DLugBN78" title="Number of warrant issued"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" contextRef="AsOf2022-06-30_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">740,250</ix:nonFraction></span> warrants for
the purchase of <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zyd8Btq0TiX7"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" contextRef="AsOf2022-06-30_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">740,250</ix:nonFraction></span> shares of common stock, at exercise price of $<span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z5e86FSPlP4b" title="Warrants exercise price"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2022-06-30_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the six months ended June 30, 2022, the Company recognized $<span id="xdx_901_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--DeferredCompensationShareBasedPaymentsMember_zSnVZFgH42d5" title="Share based compensation"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueIssuedForServices" contextRef="From2022-01-012022-06-30_us-gaap_DeferredCompensationShareBasedPaymentsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">66,000</ix:nonFraction></span> of compensation expense relating to vested warrants that were granted
for services in prior periods. As of June 30, 2022, the aggregate amount of unvested compensation related to warrants was approximately
$<span id="xdx_907_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVested_iI_c20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--DeferredCompensationShareBasedPaymentsMember_zMTYHPhGGk5"><ix:nonFraction name="OPTI:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVested" contextRef="AsOf2022-06-30_us-gaap_DeferredCompensationShareBasedPaymentsMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">27,000</ix:nonFraction></span> which will be recognized as an expense as the options vest in future periods through December 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of June 30, 2022, the outstanding and exercisable warrants have an intrinsic value of $<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MinimumMember_zrVwqM5zbZJd" title="Warrant exercisable intrinsic value"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" contextRef="From2022-01-012022-06-30_us-gaap_WarrantMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">200,000</ix:nonFraction></span> and $<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MinimumMember_zlQi1NYqzOD8"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" contextRef="From2022-01-012022-06-30_us-gaap_WarrantMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">200,000</ix:nonFraction></span>, respectively. The aggregate
intrinsic value was calculated as the difference between the estimated market value of $<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--RangeAxis__srt--MinimumMember_zgABOsB7TpP3" title="Exercise price"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" contextRef="AsOf2022-06-30_us-gaap_WarrantMember_srt_MinimumMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.00</ix:nonFraction></span> per share as of June 30, 2022, and the exercise
price of the outstanding warrants.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Summary
of Options</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock"><p id="xdx_89A_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zDeGpaAY8qx" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
summary of stock options for the six months ended June 30, 2022 is as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">&#160;<span id="xdx_8BB_zN3qaaT0qtTd" style="display: none">Summary of Options</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%">
  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: justify">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify; padding-bottom: 2.5pt">Balance outstanding, June 30, 2022</td><td style="padding-bottom: 2.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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</ix:nonNumeric><p id="xdx_8AF_zqcUz2PUoAx8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<ix:exclude><!-- Field: Page; Sequence: 130; Value: 2 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock"><p id="xdx_899_eus-gaap--ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_zzxd1rijoi76" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Information
relating to outstanding options at June 30, 2022, summarized by exercise price, is as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zAUUhfVTJMre" style="display: none">Summary of Outstanding Options Exercise Price</span></span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <td colspan="2" style="font-weight: bold; text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
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    <td colspan="2" style="font-weight: bold; text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
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    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">&#160;</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20220630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_zpI9ftJAM1jj" title="Exercisable Share" style="border-bottom: Black 1.5pt solid; width: 13%; text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" contextRef="AsOf2022-06-30_custom_ExercisePriceOneMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,535,833</ix:nonFraction></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="width: 2%; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20220630__us-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis__custom--ExercisePriceOneMember_znwfXPsT4K49" title="Exercisable Weighted Average Exercise Price" style="border-bottom: Black 1.5pt solid; width: 13%; text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" contextRef="AsOf2022-06-30_custom_ExercisePriceOneMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt; text-align: right">&#160;</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
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    <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220101__20220630_zmJ2vLXTlRa8" title="Outstanding, Life (Years)"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt-sec:duryear" name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2">8.52</ix:nonNumeric></span></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_c20220630_zU0kNMYUkkWc" title="Outstanding, Weighted Average Exercise Price" style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20220630_zW92eJatJtXl" title="Exercisable, Share" style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,535,833</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20220630_zNBfa4dOgff6" title="Exercisable, Weighted Average Exercise Price" style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8A9_zguY5tArpU8h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 9, 2022, the Employment Agreement with Steve Handy, the Company&#8217;s Chief Financial Officer and Director of Operations was ratified,
confirmed, and approved. The Employment Agreement is for a two-year period with an initial base salary of $<span id="xdx_90C_eus-gaap--SalariesAndWages_c20220507__20220509__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--TypeOfArrangementAxis__custom--EmployementAgreementMember_zJN8F1MOiuua"><ix:nonFraction name="us-gaap:SalariesAndWages" contextRef="From2022-05-072022-05-09_srt_ChiefExecutiveOfficerMember_custom_EmployementAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">220,000</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per annum and increased by 5% on the first anniversary
of the Employment Agreement. The Employment Agreement includes a cash severance provision of $<span id="xdx_90B_eus-gaap--SeveranceCosts1_c20220507__20220509__srt--TitleOfIndividualAxis__custom--MrHandysMember__us-gaap--TypeOfArrangementAxis__custom--EmployementAgreementMember_zCUx1xOcJzif"><ix:nonFraction name="us-gaap:SeveranceCosts1" contextRef="From2022-05-072022-05-09_custom_MrHandysMember_custom_EmployementAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">100,000</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">if Mr. Handy&#8217;s employment is terminated
without cause. The Company granted Mr. Handy stock options to purchase <span id="xdx_905_eus-gaap--SeveranceCosts1_c20220507__20220509__srt--TitleOfIndividualAxis__custom--MrHandysMember__us-gaap--TypeOfArrangementAxis__custom--EmployementAgreementMember_zVqyiA55GeE8"><ix:nonFraction name="us-gaap:SeveranceCosts1" contextRef="From2022-05-072022-05-09_custom_MrHandysMember_custom_EmployementAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">100,000</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of common stock under the Company&#8217;s
2022 Stock Incentive Plan, at an exercise price of $<span id="xdx_900_eus-gaap--SharePrice_iI_pid_c20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--PlanNameAxis__custom--StockIncentivePlanMember_zPXW2elyRcul"><ix:nonFraction name="us-gaap:SharePrice" contextRef="AsOf2022-06-30_us-gaap_WarrantMember_custom_StockIncentivePlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per common share, with a vesting period of two
years, and an expiration period of five years. The total fair value of these options at grant date was approximately $<span id="xdx_900_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrants_c20220507__20220509__srt--TitleOfIndividualAxis__custom--MrHandysMember__us-gaap--TypeOfArrangementAxis__custom--EmployementAgreementMember_zui6yaDKzkyd"><ix:nonFraction name="OPTI:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrants" contextRef="From2022-05-072022-05-09_custom_MrHandysMember_custom_EmployementAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">220,000</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">,
which was determined using a Black-Scholes-Merton option pricing model with the following assumptions: fair value of our stock price
of $<span id="xdx_90B_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20220630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputCommodityMarketPriceMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--PlanNameAxis__custom--StockIncentivePlanMember_zxynWAhaAtih"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2022-06-30_us-gaap_MeasurementInputCommodityMarketPriceMember_us-gaap_WarrantMember_custom_StockIncentivePlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">3.00</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per share, based on the Company&#8217;s current
private offering price, the expected term of three years, volatility of <span id="xdx_904_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20220630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--PlanNameAxis__custom--StockIncentivePlanMember_zoDZoHZfdUai"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2022-06-30_us-gaap_MeasurementInputOptionVolatilityMember_us-gaap_WarrantMember_custom_StockIncentivePlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">108</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%,
dividend rate of <span id="xdx_908_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20220630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--PlanNameAxis__custom--StockIncentivePlanMember_zuitijDaBip"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2022-06-30_us-gaap_MeasurementInputExpectedDividendRateMember_us-gaap_WarrantMember_custom_StockIncentivePlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">0</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%,
and risk-free interest rate of <span id="xdx_901_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20220630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--PlanNameAxis__custom--StockIncentivePlanMember_zbfHkI7DTCKb"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2022-06-30_us-gaap_MeasurementInputRiskFreeInterestRateMember_us-gaap_WarrantMember_custom_StockIncentivePlanMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">2.81</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the six months ended June 30, 2022, the Company granted employees aggregate options to purchase <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesEmployeeBenefitPlan_c20220101__20220630__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zmr24ZDxIPA1"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesEmployeeBenefitPlan" contextRef="From2022-01-012022-06-30_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">75,000</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of common stock under the Company&#8217;s
2022 Stock Incentive Plan, at an exercise price of $<span id="xdx_905_eus-gaap--SaleOfStockPricePerShare_iI_c20220630__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zmKZEKzEeita"><ix:nonFraction name="us-gaap:SaleOfStockPricePerShare" contextRef="AsOf2022-06-30_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per common share, with a vesting period of twelve
months, and an expiration period of five years. The total fair value of these options at grant date was approximately $<span id="xdx_906_eus-gaap--StockIssuedDuringPeriodValueEmployeeBenefitPlan_c20220101__20220630__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember__srt--TitleOfIndividualAxis__srt--OfficerMember_zwWP84xV6EC6"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueEmployeeBenefitPlan" contextRef="From2022-01-012022-06-30_us-gaap_StockOptionMember_srt_OfficerMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">306,000</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">,
which was determined using a Black-Scholes-Merton option pricing model with the following weighted average assumptions: fair value of
our stock price of $<span id="xdx_904_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20220630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputCommodityMarketPriceMember_zi4Gfo0fsj7g"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2022-06-30_us-gaap_MeasurementInputCommodityMarketPriceMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">5.00</ix:nonFraction>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per share, based on the most recent valuation
report, and valuation discussions with our former underwriters pursuant to our recently withdrawn initial public offering, and the Company&#8217;s
current private offering price, the expected term of three years, volatility of <span id="xdx_909_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20220630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zUeMIGcxUah7"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2022-06-30_us-gaap_MeasurementInputOptionVolatilityMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">115</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%,
dividend rate of <span id="xdx_90D_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20220630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_z6wxBvCh6sTd"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2022-06-30_us-gaap_MeasurementInputExpectedDividendRateMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">0</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%,
and risk-free interest rate of <span id="xdx_904_eus-gaap--EquitySecuritiesFvNiMeasurementInput_iI_pid_uPure_c20220630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zVP1LR1Co8w4"><ix:nonFraction name="us-gaap:EquitySecuritiesFvNiMeasurementInput" contextRef="AsOf2022-06-30_us-gaap_MeasurementInputRiskFreeInterestRateMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Pure">1.63</ix:nonFraction></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the six months ended June 30, 2022, the Company recognized approximately $<span id="xdx_900_eus-gaap--ShareBasedCompensation_c20220101__20220630__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zcXMHfnd1Qt2" title="Share based compensation"><ix:nonFraction name="us-gaap:ShareBasedCompensation" contextRef="From2022-01-012022-06-30_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,337,000</ix:nonFraction></span> of compensation expense relating to vested stock
options. As of June 30, 2022, the aggregate amount of unvested compensation related to stock options was approximately $<span id="xdx_908_eus-gaap--StockOptionPlanExpense_c20220101__20220630__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zaPdEqNeoQI"><ix:nonFraction name="us-gaap:StockOptionPlanExpense" contextRef="From2022-01-012022-06-30_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,269,000</ix:nonFraction></span> which
will be recognized as an expense as the options vest in future periods through May 2025.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of June 30, 2022, the outstanding and exercisable options have an intrinsic value of $<span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_c20220101__20220630__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_z3cKUZmp6bza" title="Intrinsic value"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" contextRef="From2022-01-012022-06-30_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,540,000</ix:nonFraction></span> and $<span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_c20210101__20210630__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_z7vIjHTpfmHk"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" contextRef="From2021-01-012021-06-30_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,536,000</ix:nonFraction></span>, respectively. The aggregate
intrinsic value was calculated as the difference between the estimated market value of $<span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20220630__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--StockOptionMember_zosl5KZ4k4j1" title="Exercise price"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" contextRef="AsOf2022-06-30_us-gaap_StockOptionMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.00</ix:nonFraction></span> per share as of June 30, 2022, and the exercise
price of the outstanding options.</span></p>
<!-- Field: Split-Segment; Name: 006 -->
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:CommitmentsAndContingenciesDisclosureTextBlock"><p id="xdx_80A_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zK2qNXlgE7Ae" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
9 &#8211; <span id="xdx_825_z4i1umlpoEG6">Commitments and Contingencies</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Legal
Proceedings</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are engaged from time to time in the defense of lawsuits arising out of the ordinary course and conduct of our business. There is no
action, suit, proceeding, inquiry, or investigation before or by any court, public board, government agency, self-regulatory organization
or body pending or, to the knowledge of the executive officers of our Company or our subsidiary, threatened against our Company, our
common stock, our subsidiary or of our Company or our subsidiary&#8217;s officers or directors in their capacities as such.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<ix:exclude><!-- Field: Page; Sequence: 131; Value: 2 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Advisor
Agreements</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July 14, 2021, the Company entered into a three year consulting agreement (the &#8220;Agreement&#8221;) for which the consultant is to
serve on the Company&#8217;s Advisory Board and provide services as defined in the Agreement. Per the terms of the Agreement, the Company
issued <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_c20210714__20210714__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_zgAOZzBhlcu7" title="Stock issued during period shares restricted"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" contextRef="From2021-07-142021-07-14_custom_ConsultingAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">12,500</ix:nonFraction></span> restricted shares of common stock to the consultant, with a fair value at grant date was approximately $<span id="xdx_905_eus-gaap--StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_pp0p0_c20210714__20210714__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_zTq97YeUYJc8" title="Stock issued during period value restricted stock award net of forfeitures"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" contextRef="From2021-07-142021-07-14_custom_ConsultingAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">25,000</ix:nonFraction></span>, and granted
options, contingent on the achievement of defined milestones, to purchase <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210714__20210714__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember__us-gaap--AwardDateAxis__custom--JanuaryOneTwoThousandTwentyTwoMember_zIxF6i9NuCqa" title="Stock issued during period shares new issues"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-07-142021-07-14_custom_ConsultingAgreementMember_custom_JanuaryOneTwoThousandTwentyTwoMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">25,000</ix:nonFraction></span> shares of the Company&#8217;s common stock on January
1, 2022, options to purchase <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210714__20210714__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember__us-gaap--AwardDateAxis__custom--JulyOneTwoThousandTwentyTwoMember_z07OqouCAehe" title="Stock issued during period shares new issues"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-07-142021-07-14_custom_ConsultingAgreementMember_custom_JulyOneTwoThousandTwentyTwoMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">30,000</ix:nonFraction></span> shares of the Company&#8217;s common stock on July 1, 2022, options to purchase <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210714__20210714__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember__us-gaap--AwardDateAxis__custom--JanuaryOneTwoThousandTwentyThreeMember_z5vkkZDYDPFi"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-07-142021-07-14_custom_ConsultingAgreementMember_custom_JanuaryOneTwoThousandTwentyThreeMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">30,000</ix:nonFraction></span> shares of
the Company&#8217;s common stock on January 1, 2023, and options to purchase <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210714__20210714__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember__us-gaap--AwardDateAxis__custom--JulyOneTwoThousandTwentyThreeMember_zfFkB8CqNnmb" title="Number of shares issued of common stock"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-07-142021-07-14_custom_ConsultingAgreementMember_custom_JulyOneTwoThousandTwentyThreeMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">30,000</ix:nonFraction></span> shares of the Company&#8217;s common stock on July
1, 2023. Each option shall have a term of three (<span id="xdx_909_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_dtY_c20210714__20210714__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_zlEFuZA2ae3g" title="Sharebased compensation shares authorized"><ix:nonNumeric contextRef="From2021-07-142021-07-14_custom_ConsultingAgreementMember" format="ixt-sec:duryear" name="us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2">3</ix:nonNumeric></span>) years, vest immediately upon grant by the Company, and be exercisable at $<span id="xdx_90E_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_iI_c20210714__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_zvQh9qNYd2Ac" title="Share price"><ix:nonFraction name="us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1" contextRef="AsOf2021-07-14_custom_ConsultingAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per
share. No options were earned as of June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>ICM
Capital Management, LLC</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
August 24, 2021, the Company entered into an advisor agreement with ICM Capital Management, LLC (&#8220;ICM&#8221;) regarding the role
and compensation of ICM in connection with transactions in which the Company, directly or indirectly through one or more affiliates,
raises debt capital or receives a loan from one or more investors identified by ICM to the Company to raise up to $<span id="xdx_90B_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_c20210822__20210824__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zu1Qer1xvt25" title="Proceeds from related party debt"><ix:nonFraction name="us-gaap:ProceedsFromRelatedPartyDebt" contextRef="From2021-08-222021-08-24_us-gaap_InvestorMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">2.0</ix:nonFraction></span> million. The advisor
agreement shall expire on the date specified by either ICM or the Company not less than 30 days prior to the date of termination. The
Company agreed to pay ICM a fee equal to <span id="xdx_903_eus-gaap--DebtInstrumentRedemptionPricePercentage_pip0_dp_uPure_c20210822__20210824__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zQ5tDNQ5ZM99" title="Debt instrument redemption price percentage"><ix:nonFraction name="us-gaap:DebtInstrumentRedemptionPricePercentage" contextRef="From2021-08-222021-08-24_us-gaap_InvestorMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">2.0</ix:nonFraction></span>% of the total principal amount of the loan to be made by an investor to the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>INTE
Securities LLC</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
August 24, 2021, the Company entered into an advisor agreement with INTE Securities LLC (&#8220;INTE&#8221;) regarding the role and compensation
of INTE in connection with equity transactions in which the Company, in each case directly or indirectly through one or more affiliates,
(i) raises equity capital from one or more investors or otherwise issues the Company&#8217;s capital stock or (ii) otherwise issues instruments
convertible into the Company&#8217;s capital stock, with the principal purpose of raising capital from one or more investors identified
by INTE to the Company. The advisor agreement shall expire on the date specified by either INTE or the Company not less than 30 days
prior to the date of termination. The Company agreed to pay INTE a fee equal to <span id="xdx_900_eus-gaap--DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed_pip0_dp_uPure_c20210822__20210824__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--INTESecuritiesLLCMember_zpfNssEIkS1d" title="Principal amounta redeemed"><ix:nonFraction name="us-gaap:DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed" contextRef="From2021-08-222021-08-24_custom_INTESecuritiesLLCMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">4.0</ix:nonFraction></span>% of the total principal amount of the equity capital
received from an investor by the Company. The INTE fee will be fully earned and due and payable at the initial closing of such transaction
regardless of whether the capital raised is funded at the initial closing or over time.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Corporate
Capital Group, Inc.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 19, 2022, the Company entered into an advisor agreement (&#8220;Agreement&#8221;) with Corporate Capital Group, Inc. (&#8220;CCG&#8221;)
to assist the Company as its non-exclusive financial advisor with regard to a proposed capital investment by third parties introduced
to the Company by CCG (the &#8220;Investors&#8221;). This authorization includes the possible sale of any of the Company&#8217;s assets
including its intellectual property, business or equity, debt or other securities. This authorization covers such a sale by means of
any merger, consolidation, recapitalization, joint venture, business combination, exchange offer or purchase or sale or licensing of
securities or assets. Also covered by this authorization is any other transaction resulting in a change of control of the Company or
its assets, securities or business, the acquisition of any shares of its stock or the disposition outside the ordinary course of business
of any of its assets, securities or business. This Agreement shall become effective on the date of execution of this Agreement by the
Company (the &#8220;Effective Date&#8221;) and the term of this Agreement and the appointment provided for herein (the &#8220;Term&#8221;)
shall end at any time after three (3) months following the Effective Date, on thirty days written notice from either party to the other.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Compensation
for Services</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company agreed to pay CCG a fee of $<span id="xdx_90F_eus-gaap--OtherCommitmentDueInFourthYear_iI_c20220630_zxQCclCNKBth" title="Other commitment dueIn fourth year"><ix:nonFraction name="us-gaap:OtherCommitmentDueInFourthYear" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">10,000</ix:nonFraction></span> per month until completion of all contemplated
                                            Transactions or the end of the Term, whichever occurs sooner.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
                                            any Investor Transaction is consummated (a) during the Term with any Investor; or (b) within
                                            thirty-six months after the end of the Term with any Investor, then:</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">i)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
                                            each closing of an Investor Transaction, the Company shall pay CCG or cause CCG to be paid,
                                            a cash fee (the &#8220;Investor Transaction Fee&#8221;) of seven percent (<span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20220630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InvestorsMember_zyk7eiwF5LY9" title="Ownership percentage"><ix:nonFraction name="us-gaap:EquityMethodInvestmentOwnershipPercentage" contextRef="AsOf2022-06-30_custom_InvestorsMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">7</ix:nonFraction></span>%) of the Aggregate
                                            Consideration (as hereinafter defined) of the Investor Transaction, on the same day as each
                                            payment is received by the Company from the Investor.</span></td></tr>
</table>

<p style="margin: 0">&#160;</p>

<p style="margin: 0"></p>

<ix:exclude><!-- Field: Page; Sequence: 132; Value: 2 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="margin: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
                                            connection with the exercise of any warrants issued to the Investor in connection with the
                                            Investor Transactions (the &#8220;Investor Warrants&#8221;), the Company shall pay CCG or
                                            cause CCG to be paid, by wire transfer on the day that the Company receives any payment resulting
                                            from the exercise of the Investor Warrants, a cash fee of seven percent (<span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20220630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InvestorWarrantsMember_zISJclb5P808" title="Ownership percentage"><ix:nonFraction name="us-gaap:EquityMethodInvestmentOwnershipPercentage" contextRef="AsOf2022-06-30_custom_InvestorWarrantsMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">7</ix:nonFraction></span>%) of the Aggregate
                                            Consideration received by the Company in connection with the exercise of the Investor Warrants.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">&#160;</td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif"></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iii)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
                                            completion of any Transaction, the Company shall issue to CCG or its permitted assignees,
                                            warrants (the &#8220;Agent Warrants&#8221;) to purchase seven percent (7%) of the aggregate
                                            number of shares of common stock of the Company sold (or issuable upon exercise of any convertible
                                            securities sold) in such Investor Transaction at an exercise price equal to one hundred percent
                                            (<span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20220630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zzNPkYAtPrBk" title="Ownership percentage"><ix:nonFraction name="us-gaap:EquityMethodInvestmentOwnershipPercentage" contextRef="AsOf2022-06-30_custom_InvestorsMember_us-gaap_WarrantMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">100</ix:nonFraction></span>%) of the purchase price or the conversion price of the securities sold in the Investor
                                            Transaction. <span id="xdx_904_ecustom--StockholdersEquityDescription_c20220101__20220630_ztxtKAF2Eupj" title="Stockholders equity description"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="OPTI:StockholdersEquityDescription">For the avoidance of doubt only, the Agent Warrants shall represent seven percent
                                            (7%) of the stock issued to the Investor and not seven percent (7%) of the total Company
                                            equity. The Agent Warrants shall provide for (a) a five (5) year term, and (b) cashless exercise
                                            provisions, and (c) piggyback and demand registration rights, and (d) standard anti-dilution
                                            protections. The shares of the Common Stock of the Company underlying the Agent Warrants,
                                            if any, (and the shares of Common Stock underlying the securities issuable upon exercise
                                            of the Agent Warrants) shall be registered in the registration statement, if any, filed in
                                            connection with the Investor Transaction</ix:nonNumeric></span>.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aggregate
Consideration is defined and computed as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            total sale proceeds and other consideration received by the Company and/or holders of its
                                            stock, options, warrants and convertible securities upon the consummation of any Transaction,
                                            and if a portion of such consideration includes contingent payments, Aggregate Consideration
                                            shall also include the face value of such payments as and when they are received by the Company.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">&#160;</td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 1in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
                                            the Aggregate Consideration for the Transaction consists in whole or in part of securities
                                            or other property, for the purposes of calculating the amount of Aggregate Consideration,
                                            the value of such securities or other property will be the value thereof on the day preceding
                                            the consummation of the Transaction as the Company and CCG agree, provided, however, that
                                            in the case of securities for which there is a public trading market, the value will be determined
                                            by the average last sales prices for such securities for the last twenty trading days prior
                                            to such consummation as determined by CCG. In the case of debt securities for which there
                                            is no public trading market, the value thereof shall be the principal amount thereof. If
                                            there is no public trading market for securities or other property other than debt securities
                                            received or receivable as part of Aggregate Consideration and the parties are unable to agree
                                            on their value, then each of CCG and the Company will select an investment banking firm respected
                                            in the merger and acquisition field to determine a value and the midpoint between the two
                                            values established by the two independent experts will be the fair market value for the purpose
                                            hereof.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
                                            any Technology Partner Transaction is consummated (a) during the Term with any Technology
                                            Partner; or (b) within thirty-six months after the end of the Term with any Technology Partner;
                                            then, at each closing of a Technology Partner Transaction, the Company shall pay CCG a cash
                                            fee (the &#8220;Technology Partner Transaction Fee&#8221;) of five percent (<span id="xdx_90A_ecustom--FeesPercentage_dp_uPure_c20220101__20220630_zM0WWb0wRwBe" title="Fees percentage"><ix:nonFraction name="OPTI:FeesPercentage" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">5</ix:nonFraction></span>%) of the gross
                                            payments received by the Company from the Technology Partner Transaction, and the Technology
                                            Partner Transaction Fee due for each calendar quarter shall be paid in arrears by the Company
                                            to CCG within fifteen (15) calendar days of the end of that calendar quarter.</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">&#160;</td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company agrees to reimburse CCG for all reasonable out-of-pocket expenses incurred in carrying
                                            out the terms of this Agreement, including travel and entertainment, courier, and other reasonable
                                            expenses. These out-of-pocket expenses shall be payable from time to time upon invoicing
                                            by CCG at any time after the commencement of this Agreement, and all invoices shall be payable
                                            by the Company within seven (7) days.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">&#160;</p>

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

<ix:exclude><!-- Field: Page; Sequence: 133; Value: 2 -->
    <div style="border-bottom: Black 1.5pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:RelatedPartyTransactionsDisclosureTextBlock"><p id="xdx_802_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zNovX1Oc66X7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
10 &#8211; <span id="xdx_828_z0g1VLxR5zUc">Related Party Transactions</span> </b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company subleases its office space from an individual who is personally indebted to the Company&#8217;s Chief Executive Officer. During
the six months ended June 30, 2021, the Company directed rent payments totaling $<span id="xdx_901_eus-gaap--PaymentsForRent_c20210101__20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDestlerMember_z0aW8HJFuJWj" title="Payments for rent"><ix:nonFraction name="us-gaap:PaymentsForRent" contextRef="From2021-01-012021-06-30_custom_MrDestlerMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">45,000</ix:nonFraction></span> to Mr. Destler as partial repayment of the individual&#8217;s
indebtedness.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the six months ended June 30, 2021, the Company reimbursed the Company&#8217;s Chief Executive Officer $<span id="xdx_909_eus-gaap--RepaymentsOfRelatedPartyDebt_c20210101__20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__srt--BoardOfDirectorsChairmanMember_zRMSWei3P3wa" title="Repayments of related party debt"><ix:nonFraction name="us-gaap:RepaymentsOfRelatedPartyDebt" contextRef="From2021-01-012021-06-30_srt_BoardOfDirectorsChairmanMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">29,000</ix:nonFraction></span> for contributions made
on behalf of the Company to certain members of the United States Congress.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aaron
Danks, son of a former director of the Company, was paid for services provided to the Company. Aaron Danks was paid $<span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20210101__20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AaronDanksMember_zl5KWpdUbxxa" title="Amount paid for service provided"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueIssuedForServices" contextRef="From2021-01-012021-06-30_custom_AaronDanksMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">26,000</ix:nonFraction></span> for services
during the six months ended June 30, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 17, 2021, Mr. Handy was hired by us as our Chief Financial Officer and Director of Operations. Before Mr. Handy&#8217;s employment
with us, Mr. Handy provided services to us as a consultant to help us prepare for our financial statement audits and prepare our financial
statements. During the six months ended June 30, 2021, and prior to his date of employment with the Company, Mr. Handy was paid approximately
$<span id="xdx_907_eus-gaap--RelatedPartyTransactionDueFromToRelatedParty_iI_c20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrHandyMember_zcSDScsFiIq7" title="Related party transaction due from to related party"><ix:nonFraction name="us-gaap:RelatedPartyTransactionDueFromToRelatedParty" contextRef="AsOf2021-06-30_custom_MrHandyMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,000</ix:nonFraction></span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 15, 2021, we entered into a consulting agreement with Mr. Klausner to provide the services to develop the Company&#8217;s
financial model and corporate finance strategy and work on such matters as may be requested from time to time by us. The term of the
consulting agreement was three months and expired on June 15, 2021. Mr. Klausner received <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20210314__20210315__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrKlausnerMember_ziRWq7wIwKFg" title="Stock issued during period shares issued for services"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesIssuedForServices" contextRef="From2021-03-142021-03-15_custom_MrKlausnerMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">30,000</ix:nonFraction></span> shares of the Opti-Harvest Inc.
common stock for his services, estimated to have a fair value of approximately $<span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20210314__20210315__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrKlausnerMember_zLzMOMvJM3if" title="Stock issued during period value issued for services"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueIssuedForServices" contextRef="From2021-03-142021-03-15_custom_MrKlausnerMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">60,000</ix:nonFraction></span>. On July 1, 2021, Mr. Klausner was appointed
to our Board of Directors and appointed Chairman of the Audit Committee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:SubsequentEventsTextBlock"><p id="xdx_805_eus-gaap--SubsequentEventsTextBlock_zC2fQUtKeLd8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
11 &#8211; <span id="xdx_82A_zM0bMoIhPK41">Subsequent Events</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has evaluated subsequent events occurring from July 1, 2022, through the date of this filing.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Common
Shares Issued on Private Offering</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent
to June 30, 2022, the Company received net proceeds of approximately $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20220701__20220831__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zO3t9Vp3gkC6" title="Proceeds from issuance of common stock"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfCommonStock" contextRef="From2022-07-012022-08-31_us-gaap_SubsequentEventMember_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="-5" scale="6" unitRef="USD">1.2</ix:nonFraction></span> million on the sale of <span id="xdx_900_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20220701__20220831__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zPSQQEGP0Zc4" title="Stock issued during period shares new issues"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2022-07-012022-08-31_us-gaap_SubsequentEventMember_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">396,668</ix:nonFraction></span> shares of common stock at $<span id="xdx_90C_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20220831__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_z68k5xRh4y9e" title="Shares issued price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2022-08-31_us-gaap_SubsequentEventMember_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.00</ix:nonFraction></span>
per share, and <span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20220831__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zrkwPz7a8309" title="Warrants"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" contextRef="AsOf2022-08-31_us-gaap_SubsequentEventMember_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">198,334</ix:nonFraction></span> warrants, as part of its private offerings<span style="background-color: white">. </span>As part of the Company&#8217;s
$<span id="xdx_90D_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20220831__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zy9RRrfk7k46" title="Shares issued price per share"><ix:nonFraction name="us-gaap:SharesIssuedPricePerShare" contextRef="AsOf2022-08-31_us-gaap_SubsequentEventMember_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">3.00</ix:nonFraction></span> private offering, each participating shareholder is entitled to a warrant, which expires on <span id="xdx_900_ecustom--ClassOfWarrantOrRightExpirationDate_dd_c20220701__20220831__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zXoxJ3lEdg34" title="Class of warrant or right expiration date"><ix:nonNumeric contextRef="From2022-07-012022-08-31_us-gaap_SubsequentEventMember_us-gaap_PrivatePlacementMember" format="ixt:datemonthdayyearen" name="OPTI:ClassOfWarrantOrRightExpirationDate">December 31, 2023</ix:nonNumeric></span>, to purchase up to
fifty percent (50%) of the number of common shares purchased, at $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20220831__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zrO345OcdWJ5" title="Class of warrant"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2022-08-31_us-gaap_SubsequentEventMember_us-gaap_PrivatePlacementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">4.00</ix:nonFraction></span> per share.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Common
Shares Issued for Services</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent
to June 30, 2022, the Company issued <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20220701__20220831__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--TitleOfIndividualAxis__custom--ConsultantsMember_zssERNsHbC26" title="Stock issued during period shares issued for services"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesIssuedForServices" contextRef="From2022-07-012022-08-31_us-gaap_SubsequentEventMember_custom_ConsultantsMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">110,000</ix:nonFraction></span> shares of common stock, with a fair value of approximately $<span id="xdx_904_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_pp0p0_c20220701__20220831__us-gaap--TypeOfArrangementAxis__custom--ConsultantsAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zAyAdKNUWnb6" title="Stock issued during period value issued for services"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueIssuedForServices" contextRef="From2022-07-012022-08-31_custom_ConsultantsAgreementMember_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">330,000</ix:nonFraction></span> at date of grant related
to a consulting agreement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Common Shares Issued on Exercise of Warrants
</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Subsequent to June 30, 2022, the Company received
proceeds of approximately $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceOfWarrants_c20220701__20220831__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zsZCfF26IRdk" title="Proceed from exercise of warrants"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfWarrants" contextRef="From2022-07-012022-08-31_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">40,000</ix:nonFraction></span> on the exercise of <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20220831__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zgQRoRCOwJtd" title="Purchase of warrant"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" contextRef="AsOf2022-08-31_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,000</ix:nonFraction></span> warrants for the purchase of <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220701__20220831__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zTusjJzoVO92" title="Number shares issued for common stock"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-07-012022-08-31_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,000</ix:nonFraction></span> shares of common stock, at exercise price
of $<span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20220831__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zwVpHsuvNR97" title="Warrant exercise price"><ix:nonFraction name="us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" contextRef="AsOf2022-08-31_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">2.00</ix:nonFraction></span> per share.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Capital
Navigation Strategies</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July 29, 2022, the Company entered into an Advisor Agreement (&#8220;Agreement&#8221;) with Capital Navigation Strategies (&#8220;CNS&#8221;)
to raise capital for the Company on a non-exclusive reasonable best efforts basis, in connection with entering into an agreement to obtain
or receive capital, credit, cash advance, prepayments, factor, loan, convertible note, or other debt, equity or funding arrangement,
including a hedging arrangement, joint venture, partnership or business collaboration.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CNS
shall be engaged on a non-exclusive best-efforts basis until the successful completion or closing of the assignment or transaction(s)
contemplated by the Agreement. Either party hereto may terminate the Agreement on the earlier of (a) twelve (12) months after the mutual
written approval by CNS and the Company of the Company&#8217;s teaser, marketing presentation, and virtual due diligence room subject
to automatic annual renewal unless terminated in writing by either party or (b) the date on which the Company files a registration statement
with the SEC or other regulatory body for an initial public offering, by giving thirty (30) days written notice of such party&#8217;s
desire to terminate to the other party.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
a transaction or any other funding for the Company or a Company project is consummated as identified and listed on Schedule B of the
Agreement during the Agreement period or within sixty (<span id="xdx_905_eus-gaap--DebtInstrumentMaturityDateDescription_dtM_c20220728__20220729__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zLmIKwY39ju5" title="Debt instrument maturity date description"><ix:nonNumeric contextRef="From2022-07-282022-07-29_us-gaap_SubsequentEventMember" name="us-gaap:DebtInstrumentMaturityDateDescription">60</ix:nonNumeric></span>) months thereafter, the Company shall pay CNS, in immediately available funds,
at closing of the transaction based upon the aggregate amount of the entire transaction value equal to six percent (<span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20220729__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zTK1ALXFjwr9" title="Debt instrument interest rate stated percentage"><ix:nonFraction name="us-gaap:DebtInstrumentInterestRateStatedPercentage" contextRef="AsOf2022-07-29_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">6</ix:nonFraction></span>%) of the capital
raised if the funding is in the form of debt, equity, mezzanine structure or subordinated debt structure or any other type of transaction.
The Company will also pay $<span id="xdx_90C_eus-gaap--ProceedsFromContributedCapital_c20220728__20220729__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z5rAOZnftjol" title="Proceeds from contributed capital"><ix:nonFraction name="us-gaap:ProceedsFromContributedCapital" contextRef="From2022-07-282022-07-29_us-gaap_SubsequentEventMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">280</ix:nonFraction></span> (two hundred eighty US dollars) per hour to CNS if the Company requests CNS to develop and/or refine offering
materials and pay for out-of-pocket expenses incurred by CNS.</span></p>

</ix:nonNumeric><p id="xdx_81E_zPW4f2jBunO3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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    <div style="break-before: page; margin-top: 6pt"><p style="margin: 0pt">&#160;</p></div>
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PROSPECTUS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OPTI-HARVEST,
INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>UNITS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Each
Unit Consisting of One Share of Common Stock and One Warrant to Purchase One Share of Common Stock</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through
and including _____________ (the 25<sup>th</sup> day after the date of this offering), all dealers effecting transactions in these securities,
whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealer&#8217;s obligation
to deliver a prospectus when acting as an underwriter and with respect to an unsold allotment or subscription.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">THE
DATE OF THIS PROSPECTUS IS ____________, 2022</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">WestPark
Capital</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PART
II - INFORMATION NOT REQUIRED IN PROSPECTUS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Item
13. Other Expenses of Issuance and Distribution</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth the costs and expenses, other than the underwriting discounts and commissions, payable by the registrant in
connection with the sale of common stock being registered. All amounts are estimates except for the SEC registration fee, and the Financial
Industry Regulatory Authority, or FINRA, filing fee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: justify">Item</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount to be paid</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 78%; text-align: justify">SEC registration fee</td><td style="width: 2%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">3,258.13</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">FINRA filing fee</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">5,836.72</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Nasdaq listing fee</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">75,000.00</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Printing fees and expenses</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">6,442.00</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Legal fees and expenses</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">250,000.00</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Accounting fees and expenses</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">120,000.00</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: justify">Transfer agent&#8217;s fees and expenses</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">3,000.00</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: justify">Miscellaneous fees and expenses</td><td>&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">10,000.00</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: justify">Total</td><td>&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">473,536.85</td><td style="text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Item
14. Indemnification of Directors and Officers</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
145 of the DGCL, or Section 145, provides that a Delaware corporation may indemnify any person who was, is or is threatened to be made,
party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other
than an action by or in the right of such corporation), by reason of the fact that such person is or was an officer, director, employee
or agent of such corporation or is or was serving at the request of such corporation as a director, officer, employee or agent of another
corporation or enterprise. The indemnity may include expenses (including attorneys&#8217; fees), judgments, fines and amounts paid in
settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, provided such person acted
in good faith and in a manner he reasonably believed to be in or not opposed to the corporation&#8217;s best interests and, with respect
to any criminal action or proceeding, had no reasonable cause to believe that his or her conduct was illegal. A Delaware corporation
may indemnify any persons who are, were or are a party to any threatened, pending or completed action or suit by or in the right of the
corporation by reason of the fact that such person is or was a director, officer, employee or agent of another corporation or enterprise.
The indemnity may include expenses (including attorneys&#8217; fees) actually and reasonably incurred by such person in connection with
the defense or settlement of such action or suit, provided such person acted in good faith and in a manner he reasonably believed to
be in or not opposed to the corporation&#8217;s best interests, provided that no indemnification is permitted without judicial approval
if the officer, director, employee or agent is adjudged to be liable to the corporation. Where an officer or director is successful on
the merits or otherwise in the defense of any action referred to above, the corporation must indemnify him against the expenses which
such officer or director has actually and reasonably incurred.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
145 further authorizes a corporation to purchase and maintain insurance on behalf of any person who 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 or enterprise, against any liability asserted against him and incurred by him in any such capacity, or arising out of his
or her status as such, whether or not the corporation would otherwise have the power to indemnify him under Section 145.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
bylaws provide that we must indemnify our directors and officers to the fullest extent permitted by the DGCL and must indemnify against
all expenses, liability, and loss incurred in investigating, defending or participating in such proceedings.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of the date of this prospectus, we have entered into separate indemnification agreements with each of our directors and executive officers.
Each indemnification agreement provides, among other things, for indemnification to the fullest extent permitted by law and our bylaws
against any and all expenses, judgments, fines, penalties and amounts paid in settlement of any claim. The indemnification agreements
provide for the advancement or payment of all expenses to the indemnitee.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
indemnification rights set forth above shall not be exclusive of any other right which an indemnified person may have or hereafter acquire
under any statute, provision of our certificate of incorporation, our bylaws, agreement, vote of stockholders or disinterested directors
or otherwise; provided however in the case of any such amendment or interpretation, only to the extent that such amendment or interpretation
permits us to provide broader indemnification rights than we were permitted prior thereto.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Item
15. Recent Sales of Unregistered Securities</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
December 2016, we offered and sold 4,182,191 shares of common stock to 31 accredited investors, at a purchase price of $0.01 per share,
for aggregate proceeds of $42,222. The Company made the offering pursuant to the exemption from registration afforded by Section 4(a)(2)
of the Securities Act and Rule 506 of Regulation D, promulgated under the Securities Act, where each purchaser was an &#8220;accredited
investor&#8221; within the meaning of Rule 501 of Regulation D.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Between
January 2017 and December 2017, we offered and sold 5,139,717 shares of common stock to 63 accredited investors, at a purchase price
of $0.75 per share, for aggregate proceeds of $3,846,050. The Company made the offering pursuant to the exemption from registration afforded
by Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D, promulgated under the Securities Act, where each purchaser was
an &#8220;accredited investor&#8221; within the meaning of Rule 501 of Regulation D.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Between
March 2019 and August 2021, we offered and sold 5,174,250 shares of common stock to 157 accredited investors, at a purchase price of
$2.00 per share, for aggregate proceeds of $10,348,500. Between March 2022 and August 2022, we issued 760,250 shares of
common stock on the exercise of 760,250 warrants, at an exercise price of $2.00 per share, for aggregate proceeds of $1,520,500.
The Company made the offering pursuant to the exemption from registration afforded by Section 4(a)(2) of the Securities Act and Rule
506 of Regulation D, promulgated under the Securities Act, where each purchaser was an &#8220;accredited investor&#8221; within the meaning
of Rule 501 of Regulation D.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Between
June 2022 and August 2022, we offered and sold 461,668 shares of common stock to 8 accredited investors, at a purchase price of
$3.00 per share, for aggregate proceeds of $1,385,003. The Company made the offering pursuant to the exemption from registration afforded
by Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D, promulgated under the Securities Act, where each purchaser was
an &#8220;accredited investor&#8221; within the meaning of Rule 501 of Regulation D.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Between
September 2020 and August 2022, we issued 1,341,488 shares of common stock, with a fair value of approximately $3,155,428, or $2.35 per
share, to consultants and advisors who provided services to us. The offering was made pursuant to the exemption from registration provided
by Rule 701, promulgated pursuant to Section 3(b) of the Securities Act.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Between
March 2021 and January 2022, the Company approved options exercisable into 4,465,000 shares to be issued pursuant to the
Company&#8217;s 2016 Equity Incentive Plan, at an exercise price of $2.00 per share. We made the offering pursuant to the exemption from
registration afforded by Section 4(a)(2) of the Securities Act.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Between May 2022 and August 2022, the Company
approved options exercisable into 170,000 shares to be issued pursuant to the Company&#8217;s 2022 Stock Incentive Plan, at an average
exercise price of $2.00 per share. We made the offering pursuant to the exemption from registration afforded by Section 4(a)(2) of the
Securities Act.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May 17, 2022, the Company granted an aggregate
of 200,000 restricted stock units (RSU) to its employees and executives pursuant to the Company&#8217;s 2022 Stock Incentive Plan, with
an aggregate fair value of $600,000, based on the Company&#8217;s current private offering price. We made the offering pursuant to the
exemption from registration afforded by Section 4(a)(2) of the Securities Act.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Between
September 23, 2021,and October 15, 2021 we offered and sold approximately $3,591,235 of Senior Convertible Promissory Notes and warrants
to purchase that number of shares of common stock into which the notes are convertible. Each Warrant is exercisable at a price equal
to 115% of our initial public offering price. 780,703 shares of common stock are reserved for issuance upon the exercise of outstanding
warrants issued with the Senior Convertible Promissory Notes. The Company made the offering pursuant to the exemption from registration
afforded by Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D, promulgated under the Securities Act, where each purchaser
was an &#8220;accredited investor&#8221; within the meaning of Rule 501 of Regulation D.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Between
May 27, 2022, and June 7, 2022, we issued 203,503 shares of common stock, with a fair value of approximately $610,509, or $3.00 per share,
to holders of our Senior Convertible Promissory Notes as consideration for modifying the terms of the Senior Convertible Promissory Notes.
The offering was made pursuant to the exemption from registration provided by Rule 701, promulgated pursuant to Section 3(b) of the Securities
Act.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></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-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Item
16. Exhibits and Financial Statement Schedules</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following exhibits are filed as part of this registration statement:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.75in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.1in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Description</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="ex1-1.htm">Form of Underwriting Agreement</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex3-1_1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Incorporation</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1.2</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex3-1_2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Amendment</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1.3</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex3-1_3.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Designation</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1.4</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex3-1_4.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Amendment</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex3-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bylaws</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen of Common Stock Certificate</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex4-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of Warrant</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex4-3.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of Senior Convertible Promissory Note</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">4.4</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex4-4.htm">Amendment No. 1 to Senior Convertible Promissory Note</a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.5</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="ex1-1.htm">Form of Representative&#8217;s Warrant (included in Exhibit 1.1)</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.6</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="ex4-6.htm">Form of Warrant Agency Agreement by and between Opti-Harvest, Inc. and Colonial Stock Transfer Company, Inc.</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.7</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex4-6.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of Common Stock Purchase Warrant (included in Exhibit 4.6)</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex5-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Law Offices of Thomas E. Puzzo, PLLC</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.2</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex5-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion
of Clark Hill PLC</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1#</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employment Agreement, dated December 17, 2018, by and between Opti-Harvest, Inc., a Delaware corporation and Jonathan Destler</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2#</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex10-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendment No. 1 to Employment Agreement, dated March 21, 2021, by and between Opti-Harvest, Inc., a Delaware corporation and Jonathan Destler</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.3#</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex10-3.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employment Agreement, dated May 17, 2021, by and between Opti-Harvest, Inc., a Delaware corporation and Steve Handy</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">10.4#</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex10-4.htm">Employment Agreement, dated May 9, 2022, by and between Opti-Harvest, Inc., a Delaware corporation and Steve Handy</a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.5#</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="ex10-5.htm">Consulting Agreement, dated March 15, 2021, by and between Opti-Harvest, Inc., a Delaware corporation and Jeffrey Klausner</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.6#</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="ex10-6.htm">2016 Equity Incentive Plan</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.7#</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="ex10-7.htm">2022 Stock Incentive Plan</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.8#</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="ex10-8.htm">Form of Indemnification Agreement</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.9</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="ex10-9.htm">Form of Note and Warrant Purchase Agreement</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.10</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="ex10-10.htm">Form of Amended and Restated Investors&#8217; Rights Agreement</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.11</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="ex10-11.htm">Restated Patent Purchase Obligation with DisperSolar LLC</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.12</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="ex10-12.htm">Letter Agreement with Nick Booth Regarding Restated Patent Purchase Obligation with DisperSolar LLC</a></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex14-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Code of Ethics</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex23-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Weinberg &amp; Company, P.A.</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.2</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex5-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Law Offices of Thomas E. Puzzo, PLLC (included in Exhibit 5.1)</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.3</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex5-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Clark Hill PLC (included in Exhibit 5.2)</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="#ba_024"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Power of Attorney (included on signature page)</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">107</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><a href="ex107.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filing Fee Table</span></a></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">*To
be filed by amendment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">#
Indicates management contract or compensatory plan.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Item
17. Undertakings</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
undersigned Registrant hereby undertakes:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; 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 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 Act and will be governed by the final adjudication
    of such issue.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    undersigned Registrant hereby undertakes that:</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
    purposes of determining any liability under the Securities Act of 1933, the information omitted from the form of prospectus filed
    as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the Registrant pursuant
    to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time
    it was declared effective.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
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    prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
    securities at that time shall be deemed to be the initial bona fide offering thereof.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span id="ba_024"></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SIGNATURES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 Los Angeles, California, on August 31, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>OPTI-HARVEST,
    INC.</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 45%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>/s/
    Jonathan Destler</i></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jonathan
    Destler</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the requirements of the Securities Act of 1933, as amended, this registration statement was signed by the following persons in the
capacities and on the dates stated.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:
    August 31, 2022</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 45%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>/s/
    Jonathan Destler</i></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jonathan
    Destler</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Executive Officer, Secretary and<br />
    Chairman of the Board</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(principal
    executive officer)</span></p></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:
    August 31, 2022</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>/s/
    Steve Handy</i></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Steve
    Handy</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Financial Officer</span></p>
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    accounting officer and principal financial officer)</span></p></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:
    August 31, 2022</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
    <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">/<i>s/
    Jeffrey Klausner</i></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jeffrey
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  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

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</body>
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[{"type": "S-1", "sequence": "1", "filename": "forms-1.htm", "secsgml_size_bytes": 2866310}]
{"company-data": {"conformed-name": "Opti-Harvest, Inc.", "cik": "0001753945", "assigned-sic": "3523", "irs-number": "813007305", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-1", "act": "33", "file-number": "333-267203", "film-number": "221218676"}, "business-address": {"street1": "1801 CENTURY PARK EAST, SUITE 520", "city": "LOS ANGELES", "state": "CA", "zip": "90067", "phone": "(310) 788-0200"}, "mail-address": {"street1": "1801 CENTURY PARK EAST, SUITE 520", "city": "LOS ANGELES", "state": "CA", "zip": "90067"}}
As
filed with the Securities and Exchange Commission on August 31, 2022.
Registration
No. 333-_________
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
S-1
REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OF 1933
OPTI-HARVEST,
INC.
(Exact
name of registrant as specified in its charter)
Delaware
8742
81-3007305
(State
    or Other Jurisdiction of
(Primary
    Standard Industrial
(IRS
    Employer
Incorporation
    or Organization)
Classification
    Number)
Identification
    Number)
1801
Century Park East
,
Suite 520
Los
Angeles
,
California
90067
(310)
788-0200
(Address,
including zip code, and telephone number, including area code, of registrant's principal executive offices)
Jonathan
Destler
President
and Chief Executive Officer
Opti-Harvest,
Inc.
1801
Century Park East
,
Suite 520
Los
Angeles
,
California
90067
(310)
788-0200
(Address,
including zip code, and telephone number, including area code, of agent for service)
Copies
to:
Thomas
                                            E. Puzzo, Esq.
Law
    Offices of Thomas E. Puzzo, PLLC
3823
    44th Ave. NE
Seattle,
    Washington 98105
(206)
    522-2256
Andrew
                                            M. Tucker, Esq.
Nelson
    Mullins Riley & Scarborough LLP
101
    Constitution Avenue, NW, Suite 900
Washington,
    D.C. 20001
(202)
    689-2933
Approximate
date 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, or a smaller reporting
company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company"
in Rule 12b-2 of the Exchange Act.
Large
    accelerated filer
☐
Accelerated
    filer
☐
Non-accelerated
    filer
☒
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 to Section 7(a)(2)(B) of the Securities Act.
☐
The
Registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the
Registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective
in accordance with Section 8(a) of the Securities Act of 1933, or until the registration statement shall become effective on such date
as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.
The
information in this preliminary prospectus is not complete and may be changed. We may not sell these securities until the registration
statement filed with the U.S. Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these
securities and it is not soliciting an offer to buy these securities in any state or other jurisdiction where the offer or sale is not
permitted.
SUBJECT
TO COMPLETION, DATED AUGUST 31, 2022
PRELIMINARY
PROSPECTUS
Units
Each
Unit Consisting of One Share of Common Stock and One Warrant to Purchase One Share of Common Stock
This
is our initial public offering. We are offering          units, each unit consisting
of one share of common stock, par value $0.0001 per share, and a warrant to purchase one share of common stock, assuming an initial public
offering price of $      per unit (which is the midpoint of the estimated range of the initial public offering
price set forth below). We currently estimate that the initial public offering price will be between $    and $    per
unit. Each share of common stock is being sold together with one warrant to purchase one share of common stock. Each whole share exercisable
pursuant to the warrants will have an exercise price per share at       , equal to 125% of the initial
public offering price. The warrants will be immediately exercisable and will expire on the fifth anniversary of the original issuance
date. The units will not be certificated. The shares of common stock and related warrants are immediately separable and will be issued
separately, but must be purchased together as a unit in this offering.
Currently,
there is no public market for our common stock. We have applied to list our common stock under the symbol "OPHV" and our
warrants under the symbol "OPHVW" both on the Nasdaq Capital Market. The closing of this offering is contingent upon the
successful listing of our common stock and warrants on The Nasdaq Capital Market.
We
have two classes of capital stock: common stock and Series A Preferred Stock. Our capital structure involving our Series A preferred
stock differs significantly from those companies that have typical dual or multi-class capital structures. Each share of our common stock
will entitle the holder to one vote. We also have one share of Series A preferred stock outstanding, held by Jonathan Destler, our Chief
Executive Officer, Chairman and co-founder. which entitles Mr. Destler to a number of votes that is equal to 110% of the issued and outstanding
shares of our common stock, as well as the right to appoint a director. This means that, for the foreseeable future, the control of our
company will be concentrated with Mr. Destler through his ownership of our Series A Preferred Stock, and even if Mr. Destler sells a
significant portion of shares of our common stock that he owns directly or indirectly, he will still maintain greater than 50% of the
voting power of us. The terms of Series A preferred stock also include protective provisions that require the consent of the Series A
Preferred stockholder in order for us to make any fundamental change to our business or corporate structure. This means that changes
to our board of directors or management, our Certificate of Incorporation, as amended, our Bylaws, our business direction, or any change
in control, merger or other business combination, or takeover involving us may not occur without the consent of Mr. Destler as long as
he holds his share of Series A Preferred Stock. See the section titled "Description of Capital Stock" for more information.
The objective of the Series A Preferred Stock is to fortify control of our company with Mr. Destler.
Immediately
following the completion of this offering, Mr. Destler will own approximately % of the voting power of our outstanding capital stock,
assuming an initial public offering price of $ per unit (which is the midpoint of the estimated range of the initial public offering
price shown on this cover page of the prospectus) and assuming no exercise of the underwriters' option to purchase additional shares
and warrants, and we will be a "controlled company," within the meaning of Nasdaq listing standards. Therefore, we will qualify
for, and intend to rely on, exemptions from certain Nasdaq corporate governance requirements. See "Management Controlled Company
Exception."
We
are an "emerging growth company" and a "smaller reporting company" as defined under the federal securities laws
and, as such, have elected to comply with certain reduced public company reporting requirements. See "Prospectus Summary—Implications
of Being an Emerging Growth Company and a Smaller Reporting Company."
Investing
in shares of our common stock and warrants involves a high degree of risk. See "
Risk Factors
" beginning on page 12
of this prospectus for a discussion of information that should be considered in connection with an investment in our securities.
Per
                                            Unit
Total
Initial
    public offering price
$
$
Underwriting
    discounts and commissions (1)
$
$
Proceeds
    to us, before expenses
$
$
(1)
Does not include a non-accountable expense allowance equal to 1% of the gross proceeds of this offering payable to Westpark Capital,
the representative of the underwriters. We have also agreed to issue warrants to the representative of the underwriters. The registration
statement, of which this prospectus forms a part, also registers the issuance of the representative's warrants and shares of common
stock issuable upon exercise of the representative's warrants. See "Underwriting" for additional information regarding
underwriters' compensation.
We
have granted a 45-day option to the underwriters, exercisable one or more times in whole or in part, to purchase up to an aggregate of          additional
shares of common stock and/or up to          additional warrants (equal to 15% of the
shares of common stock and warrants underlying the units sold in the offering) in any combination thereof, to cover over-allotments,
if any, from us at the initial public offering price, less underwriting discounts and commissions.
Neither
the Securities and Exchange Commission, or the SEC, nor any state securities commission has approved or disapproved of these securities
or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The
underwriters expect to deliver the units to purchasers on or before           , 2022.
WESTPARK
CAPITAL
The
date of this prospectus is           , 2022
2
TABLE
OF CONTENTS
Page
Prospectus
    Summary
4
Risk
    Factors
14
Special Note Regarding Forward-Looking Statements
36
Market, Industry and Other Data
37
Use of Proceeds
38
Dividend Policy
38
Capitalization
39
Dilution
39
Management's Discussion and Analysis of Financial Condition and Results of Operations
41
Business
50
Management
68
Executive Compensation
73
Certain Relationships and Related Transactions
76
Principal Stockholders
76
Description of Capital Stock
78
Shares Eligible for Future Sale
84
Underwriting
85
Legal Matters
90
Experts
90
Where You Can Find More Information
90
Index to Financial Statements
F-1
We
and the underwriters have not authorized anyone to provide any information or to make any representations other than those contained
in this prospectus or in any related free writing prospectuses. We and the underwriters take no responsibility for, and can provide no
assurance as to the reliability of, any other information that others may give you. This prospectus is an offer to sell only the units
offered by this prospectus, and only under circumstances and in jurisdictions where it is lawful to do so. The information contained
in this prospectus or in any applicable free writing prospectus is current only as of its date. Our business, results of operations,
financial condition, and prospects may have changed since that date.
For
investors outside the United States: We have not, and the underwriters have not, done anything that would permit this offering or the
possession or distribution of this prospectus or any free writing prospectus in connection with this offering in any jurisdiction where
action for that purpose is required, other than in the United States. Persons outside the United States who come into possession of this
prospectus must inform themselves about, and observe any restrictions relating to, the offering of the units and the distribution of
this prospectus outside the United States. See "Underwriting."
3
PROSPECTUS
SUMMARY
This
summary highlights certain information appearing elsewhere in this prospectus. For a more complete understanding of this offering, you
should read the entire prospectus carefully, including the information under "Risk Factors," "Business," "Management's
Discussion and Analysis of Financial Condition and Results of Operations" and our financial statements and the related notes included
elsewhere in this prospectus before investing in our securities.
In
this prospectus, unless otherwise stated or the context otherwise requires, references to "Company," "we," "us,"
"our," "Opti-Harvest" or similar references mean Opti-Harvest, Inc.
Overview
Opti-Harvest
is an agricultural innovation company with products backed by a portfolio of patented and patent pending technologies focused on solving
several critical challenges faced by agribusinesses: maximizing crop yield, accelerating crop growth, optimizing land and water resources,
reducing labor costs and mitigating negative environmental impacts.
Our
advanced agriculture technology (Opti-Filter™) and precision farming (Opti-View™) platforms, enable commercial growers and
home gardeners to harness, optimize and better utilize sunlight, the planet's most fundamental and renewable natural resource.
Our sustainable agricultural technology solutions are powered by the sun, maximizing a free and renewable resource with no need for additional
chemicals, fertilizers or labor.
We
are developing revenue streams for the following product lines:
●
Opti-Filter™
    Products;
●
ChromaGro™
    Products; and
●
OptiView™
    SaaS Licensing
Our
Technology and Products
We
are building a global agriculture technology business providing advanced equipment and precision agriculture software and solutions.
Opti-Filter™
Opti-Filter
products are designed to optimize land and water resources by utilizing sunlight in novel ways to accelerate growth in newly planted
crops (Opti-Gro, Opti-Shield and ChromaGro products), and improve production in mature vineyards and orchards (Opti-Skylights and Opti-Panels
products). Opti-Filter photo-selective technology turns sunlight into scattered, red-enriched light, maximizing the sun's most
productive rays and filtering out those that inhibit growth and production, which results in enhanced foliage activity, fruitfulness,
shorter time to production, and substantial increases in marketable yield. These benefits are enhanced further by significant reductions
in labor costs and other related expenses associated with conventional farming practices. Increasing outputs (yield, revenues) and lowering
inputs (labor costs, resources) are age-old challenges for farmers. Our consumer product line (ChromaGro) is focused on the home garden
market.
Opti-View
The
Opti-Filter family of products is complimented by our Agricultural Intelligence™ technology which collects and processes critical
environmental data from a variety of sensors and industry partners to provide predictive analytics and recommendations that are designed
to enable growers to incorporate powerful data into their decision-making process. We believe this system will provide far greater insights
than any single system could and will enable growers to collect and interpret crucial data from which to make better choices to improve
yield and maximize resources including irrigation and labor.
4
Our
products are marketed to two key markets: commercial agriculture and home garden and fall into three categories:
●
Advanced
    Farm Equipment (Opti-Filter family of products),
●
Home
    Garden Product (ChromaGro, powered by Opti-Filter), and
●
Precision
    Agriculture (Opti-View).
We
began commercializing our Opti-Gro and ChromaGro products in the first half of 2021, our Opti-Shield and Opti-Panel late in the
first half of 2022, and we plan to commercialize our Opti-Skylight products in the first half of 2023. Our Opti-View product is
currently in our research and development phase with an anticipated commercial offering in 2023.
Advanced
Farm Equipment
Growth
accelerating products for newly planted crops
1.
Opti-Gro™ units function as individual plant-growth chambers that target multiple biological processes to naturally accelerate
growth and shorten time to first crop and maturity in table and raisin grapes, and wine grape vines.
Opti-Gro
units are applied soon after vine planting and typically left in place for one season only. However, their positive impacts last several
seasons after their removal.
2.
Opti-Shields™ are designed to fit newly planted fruit trees, nut trees and other crops.
5
Opti-Shields
are applied soon after planting and kept for two years.
Products
improving production in mature orchards and vineyards
1.
Opti-Panels™ utilize Opti-Filter technology to reduce labor costs and improve production in mature vineyards and crops grown on
trellis systems.
Opti-Panels
are installed by retrofitting into current trellis systems, or along with initial construction, and remain in the vineyard or orchard
for many years.
2.
Opti-Skylight™ funnels penetrate the canopy of mature fruit and nut trees to improve production in mature tree crops.
Opti-Skylight
is a parabolic collector which concentrates and directs sunlight to the inner canopy, while a translucent down tube delivers the production-enhancing
effects of red enriched light throughout the canopy.
6
Home
Garden Product
ChromaGro
units are designed for use in home gardens in rural (backyards, professional gardens) and urban (patios, balconies and terraces) settings.
Precision
Agriculture
Opti-View
is a proprietary, high sophisticated, multi-vendor AI and machine learning precision agriculture platform for commercial agriculture.
It integrates data from our own suite of sensors with data streams from strategic partners. It is designed to empower farmers with better
data – by offering valuable insights from predictive analytics so they can better manage their crop yields and key inputs including
water and labor. We call this Agricultural Intelligence™.
Our
Competitive Strengths
We
believe that we have several key strengths that provide us with a competitive advantage:
●
We
    have developed a transformative agricultural technology platform with multiple product applications:
Our technology is patented,
    functional and proven with a growing number of customers across major markets in North America and around the world. We expect this
    trend to accelerate as our base of installations grows.
●
We
have a strong intellectual property portfolio
:
Opti-Harvest owns five patent families, including
two U.S. patents, one granted European patent, granted patents in each of Brazil, Chile, Peru, Israel, and Mexico, as well as at least
one pending international (PCT) application and over thirty additional patent applications pending worldwide as of May 30, 2022. Opti-Harvest
has 5 years of R&D experience, and continues to drive innovation.
●
We
    have a strong ecosystem of relationships
: Through the course of the previous five years and over 65 field trials, Opti-Harvest
    has developed strong collaborative relationships with many leading growers in the commercial agriculture ecosystem; growers who are
    in the best position to recognize the multiple benefits our technology and products bring to their farming initiatives. These industry
    partnerships and collaborative relationships are key to our technical and economic success and are not easily replicated.
●
We
    are committed to ESG
: Opti-Harvest has an authentic and overarching commitment to ESG, sustainability and social impact. We are
    committed to a broad set of stakeholders, including our employees, our community, our environment, our customers, and our stockholders.
    This commitment aligns with our mission to provide farmer-focused solutions to sustainably feed our world. We see opportunities in
    many areas of the agricultural value chain to address some of today's most significant challenges including food security,
    farmer livelihood, and resource use efficiency.
7
●
We
    are decarbonizing agriculture:
Fresh produce accounts for roughly one-tenth of food related greenhouse gas (GHG emissions), or
    approximately 1% of GHG emissions in the U.S. (transportation accounts for 28% of that carbon footprint).
We are committed to developing technologies that reduce CO₂ emissions across our installed
    and potential customer base and that reduce the agriculture's contribution to climate change. GHG emissions associated with
    fresh produce production include on-farm inputs (applied water, biocides, direct electricity use, direct fuel use and other materials
    and resources) as well as upstream GHG emissions associated with the production and supply of these inputs. We believe our technologies
    reduce consumption of several of these GHG inputs by improving production, operational efficiencies, and resource utilization.
●
We
    are conserving resources:
An important physiological response to our technology includes as much as 50% mitigation of plant daily
    water stress, more efficient uptake of water and soil nutrients as well as increased photosynthetic uptake of carbon dioxide from
    the atmosphere.
●
We
    have an experienced leadership and scientific team
:
Opti-Harvest
    has built an experienced multi-disciplinary leadership and scientific team with a strong track record of driving scientific and product
    innovation and revenue growth in several technology businesses. Each member of our leadership team has decades of experience in their
    respective area of expertise.
●
We
    continue to drive innovation
. By continuing to focus on innovation and enhancement of our product offerings, we believe we can
    build significant market share, product usage and customer satisfaction. Our research and development, engineering, marketing and
    executive leadership teams bring expertise from a variety of fields including horticultural science, agronomy, optical physics, materials
    science, electronics and networking, product design, software development, machine learning and AI.
Our
Growth Strategy
Each
of the growth initiatives outlined below depends on our ability to develop broad acceptance of our products. We continuously work to
market our products and believe we will have acceptance of our products in both the consumer grower and commercial agriculture segments
through the execution of the following strategies:
●
Sales
    and Marketing
:
Opti-Harvest's growth and
    success depend upon developing and implementing go-to-market strategies that ensure superior customer satisfaction, retention, and
    expansion. As Opti-Harvest transitions from field trials to comprehensive commercialization initiatives, opportunities for industry
    partnerships and/or developing marketing, sales and distribution capabilities internally will be evaluated and piloted to ensure
    all aspects of customer and product support are validated.
Our initial commercialization strategy
    is focused on marketing our products that use Opti-Filter technology. The introduction of our Opti-View solution represents an important
    opportunity to expand revenues from both installed Opti-Filter customers as well as a stand-alone solution to commercial customers.
●
Expansion
    into New Geographies
: Opti-Harvest intends to initially derive the majority of its revenues from select markets in North America.
    We anticipate significant growth opportunities to expand our business in additional regions in North America and in international
    markets around the world.
●
Finance
    / Lease Model
: We intend to establish finance partners that will allow us to offer financial terms to commercial agriculture
    customers and establish sales velocity and scale.
Selected
Risks Associated with Our Business
Our
business is subject to a number of risks and uncertainties, including those highlighted in the section titled "Risk Factors"
immediately following this summary. These risks include, but are not limited to, the following:
●
There
    is uncertainty regarding our ability to continue as a going concern, indicating the possibility that we may be required to curtail
    or discontinue our operations in the future. If we discontinue our operations, you may lose all of your investment.
8
●
We
    are an early-stage agricultural technology business, with no experience in the market, and failure to successfully compensate for
    this inexperience may adversely impact our operations and financial position.
●
Our
    technology and agricultural growth products have only been developed in the last several years, and we have had only limited opportunities
    to deploy and assess their performance in the field at full scale.
●
Our
    failure to protect our intellectual property may significantly impair our competitive advantage.
●
We
    rely on a limited number of suppliers, manufacturers, and logistics partners for our products. A loss of any of these partners could
    negatively affect our business.
●
Jonathan
    Destler, our co-founder, director and Chief Executive Officer, is able to control all matters requiring stockholder approval, including
    the election of directors and approval of significant corporate transactions.
●
We
    are a "controlled company" within the meaning of the Nasdaq rules and, as a result, qualify for, and will rely on, exemptions
    from certain corporate governance requirements that provide protection to stockholders of other companies.
●
An
    active trading market for our common stock and warrants may not develop, and you may not be able to resell your shares at or above
    the initial public offering price.
Patent
Purchase Agreement
On
April 7, 2017, we and DisperSolar LLC ("DisperSolar") entered into a Patent Purchase Agreement (the "Agreement")
pursuant to which we acquired certain patents (intellectual property) of DisperSolar. DisperSolar developed the patents for harvesting,
transmission, spectral modification and delivery of sunlight to shaded areas of plants.
Under
the Agreement, we agreed to pay the following for the acquisition DisperSolar's intellectual property:
(i)
Initial
    Payment: $150,000 deposited into the Seller Account within 10 days of the Effective Date (the "Initial Payment").
(ii)
Initial
    Milestone Payments: Additional payments in the aggregate combined amount up to $450,000 upon reaching defined milestones (the "Milestone
    Payments"). As of the date of this prospectus, no remaining milestone payment obligations remain.
(iii)
Earnout
    Payments: $800,000 paid on the on-going basis at a rate of 50% of gross margin and/or License Revenue from the date of the first
    commercial sale of a Covered Product or the first receipt by Purchaser of License Revenue, until the aggregate combined Gross Margin
    and License Revenue reach $1.6 million. As of the date of his prospectus, we recorded no earnout payment obligations as no gross
    margin was realized.
We
will pay to DisperSolar royalties as follows:
(i)
Following
    the recognition by us of the first $1.6 million in aggregate combined gross margin and license revenue, and until we pay to DisperSolar
    an aggregate amount in royalties of $30 million, we shall pay to DisperSolar royalties on sales of covered products at a rate of
    8% of gross margin.
(ii)
Once
    we paid to DisperSolar an aggregate amount in royalties of $30 million, we shall pay to DisperSolar royalties on sales of covered
    products at a rate of 4.75% of gross margin until the earlier of (x) such time as covered products are not covered by any claims
    of any assigned patent, and (y) the date of the consummation of a strategic transaction.
As
of the date of this prospectus, we recorded no royalties payment obligations as no gross margin was realized.
We
will pay to DisperSolar 7.6% of all license consideration received by us until the date of the consummation of a Strategic Transaction.
"Strategic Transaction" means a transaction or a series of related transactions that results in an acquisition of the Company
by a third party, including by way of merger, purchase of capital stock or purchase of assets or change of control or otherwise.
9
"Strategic
Transaction Consideration" means any cash consideration and the fair market value of any non-cash consideration paid to us by any
acquirer as consideration for the Strategic Transaction, less the costs and expenses incurred by a purchaser for the purpose of consummating
a Strategic Transaction. We will pay to DisperSolar a percentage of all License Consideration received by a prospective purchaser as
follows:
(i)
3.8%
    of the first $50 million of the Strategic Transaction Consideration;
(ii)
5.7%
    of the next $100 million of the Strategic Transaction Consideration (i.e., over $50 million and up to $150 million); and
(iii)
7.6%
    of Strategic Transaction Consideration over $150 million.
Our
Chief Science Officer, Yosepha Shahak Ravid, and our Chief Technology Officer, Nicholas Booth, are both control persons of DisperSolar
and named inventors of the acquired patents we acquired from DisperSolar.
Corporate
Information
Our
executive offices are located at 1801 Century Park East, Suite 520, Los Angeles, California 90067, and our telephone number is (310)
788-0200. Our website address is www.opti-harvest.com. We do not incorporate information on or accessible through our website into this
prospectus, and you should not consider any information on, or that can be accessed through our website as a part of this prospectus
and the inclusion of our website address in this prospectus is an inactive textual reference only. We were incorporated under the laws
of the State of Delaware on June 20, 2016.
Implications
of Being an Emerging Growth Company and a Smaller Reporting Company
We
qualify as an "emerging growth company", as defined in Section 2(a) of the Securities Act of 1933, as amended, or the Securities
Act, as modified by the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. As an emerging growth company, we may take advantage
of specified reduced disclosure and other requirements that are otherwise applicable, in general, to public companies that are not emerging
growth companies. These provisions include:
●
the
    option to present only two years of audited financial statements and only two years of related Management's Discussion and
    Analysis of Financial Condition and Results of Operations in this prospectus;
●
not
    being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002;
●
reduced
    disclosure obligations regarding executive compensation in our periodic reports, proxy statements and registration statements; and
●
exemptions
    from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute
    payments not previously approved.
We
will remain an emerging growth company until the earliest to occur of: (i) the last day of the first fiscal year in which our annual
gross revenue exceeds $1.07 billion; (ii) the date that we become a "large accelerated filer" as defined in Rule 12b-2 under
the Securities Exchange Act of 1934, as amended, or the Exchange Act, which would occur if the market value of our common stock that
is held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter; (iii)
the date on which we have issued, in any three-year period, more than $1.0 billion in non-convertible debt securities; and (iv) the last
day of the fiscal year ending after the fifth anniversary of the completion of this offering.
As
an emerging growth company, we can delay the adoption of certain accounting standards until those standards would otherwise apply to
private companies. We have elected to use this extended transition period for complying with new or revised accounting standards that
have different effective dates for public and private companies until the earlier of the date we (i) are no longer an emerging growth
company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act. As a result, our financial
statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective
dates. If we were to subsequently elect instead to comply with these public company effective dates, such election would be irrevocable
pursuant to the JOBS Act.
We
are also a "smaller reporting company" as defined in the Exchange Act. We may continue to be a smaller reporting company
even after we are no longer an emerging growth company. We may take advantage of certain of the scaled disclosures available to smaller
reporting companies and will be able to take advantage of these scaled disclosures for so long as the market value of our common stock
held by non-affiliates is less than $250.0 million measured on the last business day of our second fiscal quarter, or our annual revenue
is less than $100.0 million during the most recently completed fiscal year, and the market value of our common stock held by non-affiliates
is less than $700.0 million measured on the last business day of our second fiscal quarter.
10
The
Offering
Units
    offered:
units
    (or    units if the underwriters exercise the over-allotment option to purchase
    additional units in full), assuming an initial public offering price of $    per unit (which is the midpoint of the
    estimated range of the initial public offering price shown on the cover page of this prospectus), with each unit consisting of one
    share of common stock and a warrant to purchase one share of common stock at an exercise price of $    , equal to
    125% of the initial public offering price, which will be immediately exercisable and will expire on the fifth anniversary of the
    original issuance date. The shares and warrants that are part of the units are immediately separable and will be issued separately
    in this offering.
Common
    stock offered by us:
Up
    to    shares of common stock, assuming an initial public offering price of $        per
    unit (which is the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus).
Warrants
    offered by us:
Up
    to      warrants to purchase up to        shares
    of common stock, assuming an initial public offering price of $        per unit (which is
    the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus). Each share
    of common stock is being sold together with one warrant to purchase one share of common stock. Each whole share exercisable pursuant
    to the warrants will have an exercise price per share equal to $         , equal to
    125% of the initial public offering price, will be immediately exercisable and will expire on the fifth anniversary of the original
    issuance date. Warrants may be exercised only for a whole number of shares. The shares of common stock and warrants are immediately
    separable and will be issued separately, but must be purchased together in this offering as units. This prospectus also relates to
    the offering of the shares issuable upon exercise of the warrants.
Common
    stock to be outstanding immediately after the offering:
shares
    of common stock or         shares if the underwriters exercise the over-allotment option
    in full), assuming an initial public offering price of $   per unit (which is the midpoint of the estimated range
    of the initial public offering price shown on the cover page of this prospectus).
Over-allotment
    option
The
    underwriters have an option for a period of 45 days to purchase up to additional shares of our common stock and/or warrants sold
    in the offering in any combination thereof, to cover over-allotments, if any.
Use
    of proceeds
We
                                            estimate the that net proceeds from the sale of our units in this offering will be approximately
                                            $   or approximately $   if the underwriters exercise their option to purchase additional units
                                            in full), based on the assumed initial public offering price of $   per share, which is the
                                            midpoint of the price range set forth on the cover page of this prospectus, after deducting
                                            the underwriting discounts and commissions and estimated offering expenses payable by us.
We
    currently intend to use the net proceeds we receive from this offering to repay the outstanding principal and interest accrued on
    Senior Convertible Promissory Notes, to fund the sales and marketing, as well as research and development and field trial activities
    supporting commercialization of our products, and to use the remainder of the net proceeds for general corporate purposes, including
    working capital and operating expenses. See the section entitled "Use of Proceeds" for additional information.
Controlled
    company
Upon
    the closing of this offering, Jonathan Destler will beneficially own more than 50% of the voting power for the election of members
    of our board of directors and we will be a "controlled company" under the Nasdaq rules. As a controlled company, we qualify
    for, and intend to rely on, exemptions from certain Nasdaq corporate governance requirements. See "Management—Controlled
    company exception."
Voting
    rights
Each
    share of common stock will entitle the holder to one vote. We also have one share of Series A preferred stock outstanding, which
    entitles its holder to a number of votes that is equal to 110% of the issued and outstanding shares of our common stock. Holders
    of our common stock and Series A preferred stock will generally vote together as a single class, unless otherwise required by law
    or our certificate of incorporation. The outstanding share of our Series A preferred stock is held by our co-founder, director and
    Chief Executive Officer, Jonathan Destler. Immediately following the completion of this offering, Mr. Destler will own approximately
             % of the voting power of our outstanding capital stock (based on the assumed
    initial public offering price of $    per share, which is the midpoint of the price range set forth on the cover
    page of this prospectus), assuming no exercise of the underwriters' option to purchase additional shares. Mr. Destler will
    have the ability to control the outcome of matters submitted to our stockholders for approval, including the election of our directors
    and the approval of any change of control transaction. See "Description of Capital Stock" for additional information.
11
Representative's
    warrants
We
                                            have agreed to issue to Westpark Capital, acting as the representative of underwriters of
                                            the offering, referred to as the "Representative," compensation warrants to purchase
                                            up to 3% of the number of shares of common stock issued in this offering, referred to as
                                            the "Representative's Warrants." The Representative's Warrants will
                                            be exercisable commencing 180 days after, and will terminate five years from, the effective
                                            date of the offering. The Representative's Warrants are exercisable at a per share
                                            price equal to 120% of the initial public offering price per share in the offering. The Representative's
                                            Warrants will provide for cashless exercise, a one-time demand registration right and unlimited
                                            piggyback rights.
Risk
    factors
Investing
    in our securities involves a high degree of risk. As an investor, you should be able to bear a complete loss of your investment.
    You should carefully read "Risk Factors" on page 12 in this prospectus for a discussion of factors that you should consider
    before deciding to invest in our common stock and warrants.
Lock-up
We,
    all of our directors and officers and our shareholders who hold the number of shares of our common stock equal to 1% or more of our
    issued and outstanding shares of common stock have agreed with the underwriters, subject to certain exceptions, not to sell, transfer
    or dispose of, directly or indirectly, any of our common stock or securities convertible into or exercisable or exchangeable for
    our common stock for a period of six months after the closing of this offering. See "
Underwriting
" for more information.
Nasdaq
    symbol
In
    connection with this offering, our common stock and warrants have been approved for listing on the Nasdaq Capital Market ("Nasdaq")
    under the symbol "OPHV" and "OPHVW", respectively.  We will not apply for listing of the units
    on any other nationally recognized trading system. The closing of this offering is contingent upon the successful listing of our
    common stock and warrants on the Nasdaq Capital Market.
The
number of shares of our common stock that will be outstanding after this offering is based on (i) an assumed initial public offering
price of $   per unit, the midpoint of the price range set forth on the cover page of this prospectus, (ii) shares of our common stock
outstanding as of the date of this prospectus, and (iii) excludes the following:
●
4,585,000
    shares of common stock reserved for issuance upon the exercise of outstanding options at a weighted average exercise price of $2.00
    per share, as well as any future increases in the number of shares of our common stock reserved for issuance under our equity incentive
    plan;
●
2,457,709
shares of common stock reserved for issuance
    upon the exercise of outstanding warrants at a weighted average exercise price of $3.09 per share;
●
up
    to   shares of common stock issuable upon conversion of $3,960,364 of Senior Convertible Promissory Notes (the "Notes")
    and interest accrued, based on an assumed initial public offering price of $      per unit, the midpoint
    of the price range set forth on the cover page of this prospectus;
●
3,591,235
shares of common stock reserved for issuance upon the exercise of outstanding warrants issued with our Notes. Each Warrant is
    exercisable at a price equal to 115% of the Company's initial public offering price;
●
200,000
    restricted stock units issued to our employees.
●
1
    share of common stock reserved for issuance upon the conversion of 1 share of Series A preferred stock.
●
up
    to        shares of common stock issuable upon exercise of warrants included in the units being offered
    in this offering; and
●
up
    to        shares of common stock issuable upon exercise of the representative's warrants issued in connection
    with this offering.
In
this prospectus, unless otherwise indicated or the context otherwise requires, the number of shares of common stock outstanding and the
other information based thereon reflects and assumes the following:
●
no
    exercise of warrants included in the units being offered in this offering;
●
no
    exercise by the underwriters of their option to purchase additional shares of common stock from us; and
●
no
    exercise of Representative's Warrants.
12
SUMMARY
FINANCIAL DATA
The
following tables summarize our historical financial data as of and for the periods indicated. We derived the summary statement of operations
data for the years ended December 31, 2021 and 2020 and our summary balance sheet data as of December 31, 2021 set forth below from our
audited financial statements contained elsewhere in this prospectus. We derived the summary statement of operations data for the six
months ended June 30, 2022 and 2021 and our summary balance sheet data as of June 30, 2022 from our unaudited condensed financial statements
contained elsewhere in this prospectus, and such summary information is not necessarily indicative of results to be expected for the
full year. The unaudited condensed financial statements have been prepared on the same basis as the audited financial statements and,
in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly our
financial position as of June 30, 2022 and the results of operations for the six months ended June 30, 2022 and 2021. You should read
this data together with our financial statements and related notes included elsewhere in this prospectus and the information under the
caption "Management's Discussion and Analysis of Financial Condition and Results of Operations." The summary financial
data included in this section are not intended to replace the financial statements and related notes included elsewhere in this prospectus
and are qualified in their entirety by those financial statements and related notes. Our historical results are not necessarily indicative
of our future results.
In
the table below, amounts are rounded to nearest thousands, except share and per share amounts.
Six
    Months Ended June 30,
Year
    Ended December 31,
2022
2021
2021
2020
(unaudited)
(unaudited)
Statement
    of Operations Data:
Net
    sales
$
20,000
$
13,000
$
40,000
$
20,000
Cost
    of goods sold
26,000
50,000
102,000
115,000
Operating
    expenses
5,377,000
4,727,000
9,212,000
3,189,000
Financing
    costs
(611,000
)
-
Interest
    expense
(1,723,000
)
(3,000
)
(817,000
)
-
Gain
    on forgiveness of debt
-
38,000
38,000
-
Net
    loss
$
(7,717,000
)
$
(4,729,000
)
$
(10,053,000
)
$
(3,284,000
)
Net
    loss per share, basic and diluted
$
(0.24
)
$
(0.16
)
$
(0.32
)
$
(0.12
)
Weighted-average
    shares used in computing net loss per share, basic and diluted
32,820,329
29,680,652
30,970,657
27,621,029
In
the table below, amounts are rounded to nearest thousands.
June
    30, 2022
December
    31, 2021
(unaudited)
Balance
    Sheet Data:
Cash
$
729,000
$
1,715,000
Total
    current assets
$
1,299,000
$
1,820,000
Total
    assets
$
2,814,000
$
3,441,000
Total
    current liabilities
$
4,579,000
$
2,259,000
Long-term
    debt, net of current portion
$
63,000
$
25,000
Total
    liabilities
$
4,642,000
$
2,284,000
Total
    shareholders' equity (deficit)
$
(1,828,000
)
$
1,157,000
13
RISK
FACTORS
An
investment in our securities is speculative and involves a high degree of risk including the risk of a loss of your entire investment.
You should carefully consider the following risk factors. These risk factors contain, in addition to historical information, forward
looking statements that involve risks and uncertainties. Our actual results could differ significantly from the results discussed in
the forward-looking statements. The occurrence of any of the adverse developments described in the following risk factors could materially
and adversely harm our business, financial condition, results of operations or prospects. In such event, the value of our securities
could decline, and you could lose all or a substantial portion of your investment. In addition, the risks and uncertainties discussed
below are not the only ones we face. Our business, financial condition, results of operations or prospects could also be harmed by risks
and uncertainties not currently known to us or that we currently do not believe are material, and these risks and uncertainties could
result in a complete loss of your investment. In assessing the risks and uncertainties described below, you should also refer to the
other information contained in this prospectus.
Risks
Related to Our Business and Industry
There
is uncertainty regarding our ability to continue as a going concern, indicating the possibility that we may be required to curtail or
discontinue our operations in the future. If we discontinue our operations, you may lose all of your investment.
We
have incurred net losses of $26.9 million from our inception on June 20, 2016 to June 30, 2022 and have completed only the preliminary
stages of our business plan. We anticipate incurring additional losses before generating any revenues and will depend on additional financing
in order to meet our continuing obligations and ultimately, to attain profitability. The report of our independent registered public
accounting firm on our financial statements for the year ended December 31, 2021 included an explanatory paragraph describing conditions
that raise substantial doubt about our ability to continue as a going concern. The conditions giving rise to this uncertainty are also
disclosed in Note 1 to our financial statements for the year ended December 31, 2021 and six months ended June 30, 2022, respectively,
appearing at the end of this prospectus, citing our recurring losses and cash used in operations among other factors. Our ability to
continue as a going concern will be determined by our ability to generate sufficient cash flow to sustain our operations and/or raise
additional capital in the form of debt or equity financing. We believe that the inclusion of a going concern explanatory paragraph in
the report of our registered public accounting firm will make it more difficult for us to secure additional financing or enter into strategic
relationships with distributors on terms acceptable to us, if at all, and likely will materially and adversely affect the terms of any
financing that we might obtain. Our financial statements do not include any adjustments relating to the recoverability and classification
of recorded asset amounts or amounts and classification of liabilities that might be necessary should we be unable to continue as a going
concern.
Pandemics
and epidemics, including the ongoing COVID-19 pandemic, natural disasters, terrorist activities, political unrest, and other outbreaks
could have a material adverse impact on our business, results of operations, financial condition and cash flows or liquidity.
During
the ongoing global COVID-19 pandemic, the capital markets are experiencing pronounced volatility, which may adversely affect investor's
confidence and, in turn may affect our initial public offering.
In
addition, the COVID-19 pandemic has caused us to modify our business practices (such as employee travel plan and cancellation of physical
participation in meetings, events, and conference), and we may take further actions as required by governmental authorities or that we
determine are in the best interests of our employees, customers, and business partners. In addition, the business and operations of our
manufacturers, suppliers, and other business partners have also been adversely impacted by the COVID-19 pandemic and may be further adversely
impacted in the future, which could result in delays in our ability to commercialize our agricultural products and services.
As
a result of social distancing, travel bans, and quarantine measures, access to our facilities, users, management, and support staff has
been limited, which in turn has impacted, and will continue to impact, our operations, and financial condition.
14
The
extent to which COVID-19 impacts our, and those of our suppliers' and potential users', business, results of operations,
and financial condition will depend on future developments, which are uncertain and cannot be predicted, including, but not limited to,
the occurrence of an additional "wave," duration and spread of the outbreak, its severity, the actions to contain the virus
or treat its impact, and how quickly and to what extent normal economic and operating conditions can resume. Even if the COVID-19 outbreak
subsides, we may continue to experience materially adverse impacts to our business as a result of its global economic impact, including
any recession that has occurred or may occur in the future.
We
are also vulnerable to natural disasters and other calamities. Although we have servers that are hosted in an offsite location, our backup
system does not capture data on a real-time basis, and we may be unable to recover certain data in the event of a server failure. We
cannot assure you that any backup systems will be adequate to protect us from the effects of fire, floods, typhoons, earthquakes, power
loss, telecommunications failures, break-ins, war, riots, terrorist attacks or similar events. Any of the foregoing events may give rise
to interruptions, breakdowns, system failures, technology platform failures or internet failures, which could cause the loss or corruption
of data or malfunctions of software or hardware.
We
had negative cash flow for the year ended December 31, 2021 and the six months ended June 30, 2022.
We
had negative operating cash flow for the year ended December 31, 2021 and the six months ended June 30, 2022. To the extent that we have
negative operating cash flow in future periods, we may need to allocate a portion of our cash reserves to fund such negative cash flow.
We may also be required to raise additional funds through the issuance of equity or debt securities. There can be no assurance that we
will be able to generate a positive cash flow from our operations, that additional capital or other types of financing will be available
when needed or that these financings will be on terms favorable to us.
We
are an early-stage agricultural technology business, with no experience in the market, and failure to successfully compensate for this
inexperience may adversely impact our operations and financial position.
We
were incorporated on June 20, 2016, and we are an early-stage agricultural technology business, with few substantial tangible assets
in a highly competitive industry. We have limited operating history, a small customer base and low revenue to date. This makes it difficult
to evaluate our future performance and prospects. Our prospectus must be considered in light of the risks, expenses, delays and difficulties
frequently encountered in establishing a new business in an evolving agricultural technology industry characterized by intense competition,
including:
●
our business model and strategy are still evolving and are continually being reviewed and revised;
●
we may not be able to raise the capital required to develop our initial customer base and reputation;
●
we may not be able to successfully implement our business model and strategy; and
●
our management consists of few persons and is heavily reliant on Jonathan Destler, our Chief Executive Officer.
We
cannot be sure that we will be successful in meeting these challenges and addressing these risks and uncertainties. If we are unable
to do so, our business will not be successful and you could lose all or a substantial portion of your investment.
We
expect to suffer losses in the immediate future that may cause us to curtail or discontinue our operations.
We
expect to incur operating losses in future periods. These losses will occur because we do not yet have any revenues to offset the expenses
associated with the development of our agricultural technology business, garnering revenues, and our business operations, generally.
We cannot guarantee that we will ever be successful in generating revenues in the future. We recognize that if we are unable to generate
revenues, we will not be able to earn profits or continue operations. There is no history upon which to base any assumption as to the
likelihood that we will prove successful, and we can provide investors with no assurance that we will generate any operating revenues
or ever achieve profitable operations. If we are unsuccessful in addressing these risks, our business will almost certainly fail.
We
may not be able to execute our business plan or stay in business without additional funding.
Our
ability to generate future operating revenues depends in part on whether we can obtain the financing necessary to implement our business
plan. We will likely require additional financing through the issuance of debt and/or equity in order to establish profitable operations,
and such financing may not be forthcoming. As widely reported, the global and domestic financial markets have been extremely volatile
in recent months. If such conditions and constraints continue or if there is no investor appetite to finance our specific business, we
may not be able to acquire additional financing through credit markets or equity markets. Even if additional financing is available,
it may not be available on terms favorable to us. At this time, we have not identified or secured sources of additional financing. Our
failure to secure additional financing when it becomes required will have an adverse effect on our ability to remain in business.
15
The
agriculture technology business is extremely competitive, and if we are not able to compete successfully against other agricultural technology
businesses, both large and small, we will not be able operate our business and investors will lose their entire investment.
The
agricultural technology business is extremely competitive and rapidly changing. We currently and in the future face competitive pressures
from numerous actual and potential competitors. Many of our current and potential competitors in the agricultural growth business have
substantial competitive advantages than we have, including:
●
longer
    operating histories;
●
significantly
    greater financial, technical and marketing resources;
●
greater
    brand name recognition;
●
better
    advertising and marketing;
●
existing
    customer bases; and
●
commercially
    accepted technology and products.
Our
competitors may be able to respond more quickly to new or emerging methods and changes in the agricultural technology business and devote
greater resources to identify, develop and market new agricultural products and services, and better market and sell their agricultural
products and services than we can.
We
rely on a limited number of suppliers, manufacturers, and logistics partners for our products. A loss of any of these partners could
negatively affect our business.
We
rely on a limited number of suppliers to manufacture and transport our products, including in some cases only a single supplier for some
of our products and components. Our single supplier currently manufactures three  of our products available for sale and will
manufacture one additional product planned for commercialization in the first half of fiscal year 2023. This one vendor also houses
our sole set of tooling required to manufacture three of our products. We have no material agreements with our manufacturing suppliers.
Our reliance on a limited number of manufacturers for each of our products increases our risks, since we do not currently have alternative
or replacement manufacturers beyond these key parties. In the event of interruption from any of our manufacturers, we may not be able
to increase capacity from other sources or develop alternate or secondary sources without incurring material additional costs and substantial
delays. Thus, our business could be adversely affected if one or more of our suppliers is impacted by a natural disaster or other interruption
at a particular location.
If
we experience a significant increase in demand for our products, or if we need to replace an existing supplier or partner, we may be
unable to supplement or replace them on terms that are acceptable to us, which may undermine our ability to deliver our products to customers
in a timely manner. For example, it may take a significant amount of time to identify a manufacturer that has the capability and resources
to build our products to our specifications in sufficient volume. Identifying suitable suppliers, manufacturers, and logistics partners
is an extensive process that requires us to become satisfied with their quality control, technical capabilities, responsiveness and service,
financial stability, regulatory compliance, and labor and other ethical practices. Accordingly, a loss of any of our significant suppliers,
manufactures, or logistics partners could have an adverse effect on our business, financial condition and operating results.
The
loss of the services of Jonathan Destler, our Chief Executive Officer and a director, or our failure to timely identify and retain competent
personnel could negatively impact our ability to develop our website and sell our services.
The
development of our agricultural technology business and the marketing of our prospective business will continue to place a significant
strain on our limited personnel, management, and other resources. Our future success depends upon the continued services of our executive
officers who are developing our business, and on our ability to identify and retain competent consultants and employees with the skills
required to execute our business objectives. The loss of the services of Jonathan Destler, our Chief Executive Officer and a director,
or our failure to timely identify and retain competent personnel could negatively impact our ability to develop our website and sell
our services, which could adversely affect our financial results and impair our growth.
16
We
have limited human resources; we need to attract and retain highly skilled personnel; and we may be unable to manage our growth with
our limited resources effectively.
The
expansion of our business has placed a significant strain on our limited managerial, operational, and financial resources. We have been
and will continue to be required to expand our operational and financial systems significantly and to expand, train and manage our work
force in order to manage the expansion of our operations. Our future success will depend in large part on our ability to attract, train,
and retain additional highly skilled executive level management with experience in our industry. Competition is intense for these types
of personnel from more established organizations, many of which have significantly larger operations and greater financial, marketing,
human, and other resources than we have. We may not be successful in attracting and retaining qualified personnel on a timely basis,
on competitive terms or at all. To date we have had to limit the engagement of critical management and other key personnel due in part
to limited financial resources. If we are not successful in attracting and retaining these personnel, our business, prospects, financial
condition and operating results would be materially adversely affected. Further, our ability to manage our growth effectively will require
us to continue to improve our operational, financial and management controls, reporting systems and procedures, to install new management
information and control systems and to train, motivate and manage employees. If we are unable to manage growth effectively and new employees
are unable to achieve adequate performance levels, our business, prospects, financial condition and operating results will be materially
adversely affected.
Our
lack of insurance may expose us to liabilities which could cause us to cease operations.
While
we intend to maintain insurance in the future for certain risks, the amount of our insurance coverage may not be adequate to cover all
claims or liabilities, and we may be forced to bear substantial costs resulting from risks and uncertainties of our business. It is also
not possible to obtain insurance to protect against all operational risks and liabilities. The failure to obtain adequate insurance coverage
on terms favorable to us, or at all, could have a material adverse effect on our business, financial condition and results of operations.
We do not have any business interruption insurance. Any business disruption or natural disaster could result in substantial costs and
diversion of resources.
Our
technology and agricultural growth products have only been developed in the last several years and we have had only limited opportunities
to deploy and assess their performance in the field at full scale.
The
current generation of our agricultural growth products have only been developed in the last several years and are continuing to evolve.
Deploying and operating our technology is a complex endeavor and, until recently, had been done primarily by a small number of customers
in the agricultural crop industry, mostly as part of our field trials. As we deploy our products, we may encounter unforeseen operational,
technical and other challenges, some of which could cause significant delays, trigger contractual penalties, result in unanticipated
expenses, and/or damage to our reputation, each of which could materially and adversely affect our business, financial condition and
results of operations.
Our
agricultural growth products might not operate properly or contain defects, which could damage our reputation, give rise to claims against
us, or divert application of our resources from other purposes, any of which could harm our business and operating results.
Our
products are complex and may contain defects or experience failures due to any number of issues in design, materials, manufacture, deployment
and/or use. Despite extensive testing, from time to time we have discovered defects or errors in our products. Material performance problems
or defects in our products might arise in the future, which could have an adverse impact on our business and customer relationship and
subject us to claims.
Defects
and errors related to our agricultural growth products and any failure by us to identify and address them could result in delays in product
introductions and updates, loss of revenue or market share, liability to customers or others, failure to achieve market acceptance or
expansion, diversion of development and other resources, injury to our reputation, and increased service and maintenance costs. Defects
or errors in our products might discourage existing or potential customers from purchasing from us. Correction of defects or errors could
prove to be impossible or impracticable. The costs incurred in correcting any defects or errors or in responding to resulting claims
or liability might be substantial and could adversely affect our operating results.
17
If
we do not continue to innovate and deliver high-quality, technologically advanced products and services, we will not remain competitive,
and our revenue and operating results could suffer.
The
market for our agricultural growth products is characterized by rapid technological advancements, changes in customer requirements, frequent
new product introductions and enhancements, and changing industry standards. The life cycles of our products are difficult to estimate.
Rapid technological changes and the introduction of new products and enhancements by new or existing competitors could undermine our
current market position.
Our
success depends in substantial part on our continuing ability to provide products and services that growers will find superior to our
competitors' products and will continue to use. Our future success will depend upon our ability to anticipate and to adapt to changes
in technology and industry standards, and to effectively develop, to introduce, to market, and to gain broad acceptance of new product
and service enhancements incorporating the latest technological advancements. In addition, because our agricultural growth solutions
are designed to operate on a variety of agricultural products, we will need to continuously modify and enhance our solutions to keep
pace with changes in design, the effects of climate change, the cost of water, evolving crop growth choices, evolving atmospheric conditions,
and database technologies. We intend to continue to invest significant resources in research and development to enhance our existing
products and introduce new high-quality products that customers will want. If we are unable to predict user preferences or industry changes,
or if we are unable to modify our products and services on a timely basis or to effectively bring new products to market, our sales may
suffer. In addition, investment in product development often involves a long return on investment cycle. We have made and expect to continue
to make significant investments in product development. We may expend significant time and resources developing and pursuing sales of
a particular enhancement or application that may not result in revenues in the anticipated time frame or at all, or may not result in
revenue growth sufficient to offset increased expenses. Furthermore, uncertainties about the timing and nature of new functionality,
or new functionality to existing platforms or technologies, could increase our research and development expenses. Any failure of our
products to operate effectively with future technologies could reduce the demand for our products, result in customer dissatisfaction,
and have a material adverse effect on our business, financial condition, and results of operations.
We
may not have sufficient resources to make the necessary investments in new product development and we may experience difficulties that
could delay or prevent the successful development, introduction, or marketing of new products or enhancements. In addition, our products
or enhancements may not meet the increasingly complex customer requirements of the marketplace or achieve market acceptance at the rate
we expect, or at all. Any failure by us to anticipate or respond adequately to technological advancements, customer requirements, and
changing industry standards, or any significant delays in the development, introduction, or availability of new products or enhancements,
could undermine our current market position.
Our
products are anticipated to generally have long sales cycles and implementation periods, which may increase our costs in obtaining orders
and reduces the predictability of our earnings.
Our
products are technologically complex. Prospective customers, generally speaking, will have to commit significant resources and time to
inspect, test and evaluate our products and to install and integrate them into existing agricultural operations and systems. Orders expected
in one quarter may shift to another quarter or be cancelled as a result of the customers' budgetary constraints, internal acceptance
reviews, and other factors affecting the timing of customers' purchase decisions. In addition, potential customers are anticipated
to require a significant number of product presentations and demonstrations, in some instances evaluating products on-site where already
installed, before reaching a sufficient level of confidence in the product's performance and compatibility with the customer's
requirements to place an order. As a result, our sales process is anticipated to be subject to delays associated with lengthy approval
processes that typically accompany the design and testing of new products. The sales cycles of our products are anticipated to last for
many months or even years. In addition, the time required for our potential customers to incorporate our products into their operations
and systems are anticipated to vary significantly with the on-site circumstances of our customers, which further complicates our planning
processes and reduces the predictability of our operating results. Longer sales cycles require us to invest significant resources in
attempting to make sales, which may not be realized, and delay the generation of revenue.
18
DisperSolar
LLC ("DisperSolar") is a related party because our Chief Science Officer, Yosepha Shahak Ravid, and our Chief Technology
Officer, Nicholas Booth, are both control persons of DisperSolar and named inventors of the acquired patents we acquired from DisperSolar
under our Patent Purchase Agreement with DisperSolar. Ms. Shahak Ravid and Mr. Booth have conflicts of interest with us because they
simultaneously have fiduciary duties to both us and to DisperSolar, which could cause disruptions in our operations and/or us to suffer
losses.
On
April 7, 2017, we and DisperSolar entered into a Patent Purchase Agreement (the "Agreement") pursuant to which we acquired
certain patents (intellectual property) of DisperSolar. DisperSolar developed the patents for harvesting, transmission, spectral modification
and delivery of sunlight to shaded areas of plants.
Under
the Agreement, we agreed to pay the following for the acquisition DisperSolar's intellectual property:
(i)
Initial
    Payment: $150,000 deposited into the Seller Account within 10 days of the Effective Date (the "Initial Payment").
(ii)
Initial
    Milestone Payments: Additional payments in the aggregate combined amount up to $450,000 upon reaching defined milestones (the "Milestone
    Payments"). As of the date of this prospectus, no remaining milestone payment obligations remain.
(iii)
Earnout
    Payments: $800,000 paid on the on-going basis at a rate of 50% of gross margin and/or License Revenue from the date of the first
    commercial sale of a Covered Product or the first receipt by Purchaser of License Revenue, until the aggregate combined Gross Margin
    and License Revenue reach $1,600,000. As of the date of his prospectus, we recorded no earnout payment obligations as no gross margin
    was realized.
We
will pay to DisperSolar royalties as follows:
(i)
Following
    the recognition by us of the first $1.6 million in aggregate combined gross margin and license revenue, and until we pay to Seller
    an aggregate amount in royalties of $30 million, we shall pay to Seller royalties on sales of covered products at a rate of 8% of
    gross margin.
(ii)
Once
    we paid to DisperSolar an aggregate amount in royalties of $30 million, we shall pay to DisperSolar royalties on sales of covered
    products at a rate of 4.75% of gross margin until the earlier of (x) such time as covered products are not covered by any claims
    of any assigned patent, and (y) the date of the consummation of a strategic transaction.
As
of the date of this prospectus, we recorded no royalties payment obligations as no gross margin was realized.
We
will pay to DisperSolar 7.6% of all license consideration received by us until the date of the consummation of a Strategic Transaction.
"Strategic Transaction" means a transaction or a series of related transactions that results in an acquisition of the Company
by a third party, including by way of merger, purchase of capital stock or purchase of assets or change of control or otherwise.
"Strategic
Transaction Consideration" means any cash consideration and the fair market value of any non-cash consideration paid to us by any
acquirer as consideration for the Strategic Transaction, less the costs and expenses incurred by a purchaser for the purpose of consummating
a Strategic Transaction. We will pay to DisperSolar a percentage of all License Consideration received by a prospective purchaser as
follows:
(i)
3.8%
    of the first $50 million of the Strategic Transaction Consideration;
(ii)
5.7%
    of the next $100 million of the Strategic Transaction Consideration (i.e., over $50 million and up to $150 million); and
(iii)
7.6%
    of Strategic Transaction Consideration over $150 million.
In
the event that we have a dispute with DisperSolar regarding the Agreement, whether over milestone payments, earnout payments, royalty
payments or Strategic Transaction Consideration with DisperSolar, or any other issue regarding the Agreement, Ms. Shahak Ravid and Mr.
Booth would be in a situation where they, as our Chief Science Officer and Chief Technology Officer, respectively, have fiduciary duties
to act in the best interests of us, while at the same time, a fiduciary duty to act in the best interest of DisperSolar, which is not
possible. If Ms. Shahak Ravid is simultaneously our Chief Science Officer, and/or Mr. Booth is simultaneously our Chief Technology Officer,
while DisperSolar is engaged in a dispute with us, Ms. Shahak Ravid and/or Mr. Booth may be unwilling to perform their duties as Chief
Science Officer and Chief Technology Officer to us with the same conviction and interest as when they would not be in a dispute with
us. In such a situation, if Ms. Shahak Ravid and/or Mr. Booth would refuse to resign from their respective positions as Chief Science
Officer and Chief Technology Officer, our board of directors may have to vote to remove them from their respective positions as Chief
Science Officer and Chief Technology Officer, which could trigger litigation, a refusal of Ms. Shahak Ravid and/or Mr. Booth to disclose
critical know-how to us, or cause disruptions in our operations and/or us suffer losses.
19
Risks
Related to Our Intellectual Property
Our
failure to protect our intellectual property may significantly impair our competitive advantage.
Our
success and ability to compete depend in large part upon protecting our proprietary intellectual property. We rely on a combination of
patent protection, trademark and trade secret protection, nondisclosure and nonuse agreements to protect our proprietary rights. The
steps we have taken may not be sufficient to prevent the misappropriation of our intellectual property, particularly in foreign countries
where the laws may not protect our proprietary rights as fully as in the United States. The patent and trademark law and trade secret
protection may not be adequate to deter third party infringement or misappropriation of our patents, trademarks and similar proprietary
rights.
The
patent prosecution process is expensive, time-consuming and complex, and we may not be able to file, prosecute, maintain, enforce or
license all necessary or desirable patent applications at a reasonable cost or in a timely manner. We may not be able to obtain or maintain
patent applications and patents due to the subject matter claimed in such patent applications and patents being in disclosures in the
public domain. We have filed patent applications both in the United States and abroad seeking protection of our inventions originating
from our research and development. Our patent applications may not result in issued patents, and any patents that are issued may not
provide meaningful protection against competitors or competitive technologies. Further, the examination process may require us to narrow
the claims for our pending patent applications, which may limit the scope of patent protection that may be obtained if these applications
issue. The scope of a patent may also be reinterpreted and significantly reduced after issuance. Even if patent applications we license
or own currently or in the future issue as patents, they may not issue in a form that will provide us with any meaningful protection,
prevent competitors or other third parties from competing with us, or otherwise provide us with the protection or competitive advantages
we are seeking.
Any
of our patents, including those we may license, may be challenged, invalidated, rendered unenforceable or circumvented. Consequently,
we do not know whether any of our products will be protectable or remain protected by valid and enforceable patents. We may not prevail
if our patents are challenged by competitors or other third parties. The United States federal courts or equivalent national courts or
patent offices elsewhere may invalidate our patents, find them unenforceable, or narrow their scope. Furthermore, competitors may be
able to design around our patents by developing similar or alternative technologies or products in a non-infringing manner, or obtain
patent protection for more effective technologies, designs or methods. If these developments were to occur, our products may become less
competitive and sales may decline.
Various
courts, including the United States Supreme Court, have rendered decisions that affect the scope of patentability of certain inventions
or discoveries relevant to some aspects of our technology. These decisions state, among other things, that a patent claim that recites
an abstract idea, natural phenomenon or law of nature are not themselves patentable. Precisely what constitutes a law of nature or abstract
idea is uncertain, and it is possible that certain aspects of our technology could be considered unpatentable under applicable law. As
a result, the issuance, scope, validity, enforceability, and commercial value of our patent rights are highly uncertain. Depending on
decisions by the United States Congress, the federal courts and the United States Patent and Trademark Office (USPTO), the laws and regulations
governing patents could change in unpredictable ways that would weaken our ability to obtain new patents or to enforce our existing patents
and patents that we might obtain or in-license in the future. Additionally, our pending and future patent applications may not result
in patents being issued which protect our technology or products or which effectively prevent others from commercializing competitive
technologies and products. In fact, patent applications may not issue as patents at all. In addition, the coverage claimed in a patent
application can be significantly reduced before the patent is issued, and its scope can be reinterpreted after issuance. The scope of
patent protection outside of the United States is also uncertain. Changes in either the patent laws or their interpretation in the United
States and other countries may diminish our ability to protect our inventions, obtain, maintain, protect, defend and enforce our intellectual
property rights and, more generally, could affect the value of our intellectual property rights or narrow the scope of our patents.
20
If
we are unable to obtain and maintain patent protection for our technology in a particular jurisdiction, or if the scope of the patent
protection obtained is not sufficient, our competitors could develop and commercialize products similar or superior to ours, and our
competitive position may be adversely affected. It is also possible that we will fail to identify patentable aspects of inventions made
in the course of our development and commercialization activities before it is too late to obtain patent protection on them. Therefore,
we may miss potential opportunities to strengthen our patent position. In addition, the patent prosecution process is expensive, time-consuming
and complex, and we may not be able to file, prosecute, maintain, enforce or license all necessary or desirable patent applications at
a reasonable cost or in a timely manner. Although we enter into non-disclosure and confidentiality agreements with parties who have access
to confidential or patentable aspects of our research and development output, such as our employees, consultants, advisors, contract
manufacturers and other third parties, any of these parties may breach such agreements and disclose such output before a patent application
is filed, thereby jeopardizing our ability to seek patent protection. Consequently, we may not be able to prevent any third party from
using any of our technology that is in the public domain to compete with our products.
If
we are unable to protect the confidentiality of our trade secrets, our business and competitive position may be harmed.
In
addition to seeking patent protection to protect the intellectual property underlying our products, we also rely upon unpatented trade
secrets, know-how and continuing technological innovation to develop and maintain a competitive position. For example, we primarily rely
on protecting our proprietary software and algorithms as a trade secret. However, trade secrets and know-how can be difficult to protect.
While we endeavor to protect such proprietary information and trade secrets, in part, through confidentiality agreements with our employees,
collaborators, contractors, advisors, consultants and other third parties who have access to, or house or host such information, and
invention assignment agreements with our employees, consultants and other third parties involved in the development of intellectual property,
there is no guarantee such efforts will succeed. The confidentiality agreements are designed to protect our proprietary information and,
in some cases, our trade secrets and, in the case of agreements or clauses containing invention assignment, to grant us ownership of
intellectual property and technologies that are developed through a relationship with such employees, consultants or other third parties.
We
cannot guarantee that we have entered into such agreements with each party that has or may have had access to, or houses or hosts, our
trade secrets or proprietary information or that has been involved in the development of intellectual property. Additionally, despite
these efforts, any of these parties may breach the agreements and disclose our proprietary information, including our trade secrets,
and we may not be able to obtain adequate remedies for such breaches. We may not be able to prevent the unauthorized disclosure or use
of our technical know-how or other trade secrets by the parties to these agreements. Monitoring unauthorized uses and disclosures is
difficult and we do not know whether the steps we have taken to protect our proprietary technologies will be effective. Enforcing a claim
that a party illegally disclosed or misappropriated a trade secret is difficult, expensive and time-consuming, and the outcome is unpredictable.
In addition, some courts inside and outside the United States are less willing or unwilling to protect trade secrets.
In
addition, if any of our trade secrets were to be lawfully obtained or independently developed by a competitor or other third party, we
would have no right to prevent them, or those to whom they communicate such trade secrets, from using that technology or information
to compete with us. If any of our trade secrets were to be disclosed to, or independently developed by, a competitor or other third party,
our competitive position would be materially and adversely harmed. Furthermore, we expect these trade secrets, know-how and proprietary
information to over time be disseminated within the industry through independent development, the publication of journal articles describing
the methodology and the movement of personnel from academic to industry scientific positions. Consequently, we may be unable to prevent
our proprietary technology from being exploited in the United States and abroad, which could affect our ability to expand in domestic
and international markets or require costly efforts to protect our technology.
We
also seek to preserve the integrity and confidentiality of our data and trade secrets by maintaining physical security of our premises
and physical and electronic security of our information technology systems and cloud storage sources, but such security measures may
be breached, including through cyber-hacking or cyberattacks, and we may not have adequate remedies for any breach. In addition, our
trade secrets may otherwise become known, or be independently discovered by, competitors. To the extent that our employees, consultants,
contractors, collaborators or other third parties use intellectual property rights owned by others in their work for us, disputes may
arise as to the rights in related or resulting know-how and inventions, which could have a material adverse effect on our business, financial
condition and results of operations.
21
We
may be subject to claims that we or our employees, consultants, advisors or contractors have misappropriated the intellectual property
rights of a third party, including trade secrets or know-how, or are in breach of non-competition or non-solicitation agreements with
our competitors, and third parties may claim an ownership interest in intellectual property we regard as our own.
Some
of our employees, consultants, advisors or contractors are currently or were previously employed at or engaged by universities or other
companies, including our competitors or potential competitors. Some of these employees, consultants, advisors and contractors, may have
executed proprietary rights, non-disclosure and non-competition agreements in connection with such previous employment. Although we try
to ensure that our employees, consultants, advisors and contractors do not use the intellectual property rights, proprietary information,
know-how or trade secrets of others in their work for us, we may be subject to claims that we or these individuals have, inadvertently
or otherwise, used, infringed, misappropriated or otherwise violated the intellectual property rights or disclosed the alleged trade
secrets or other proprietary information, of these former employers, competitors or other third parties, or to claims that we have improperly
used or obtained such trade secrets. Litigation may be necessary to defend against these claims. If we fail in defending such claims,
in addition to paying monetary damages, we may lose valuable intellectual property rights or personnel, which could adversely impact
our business. An adverse determination may also result in loss of exclusivity or freedom to operate or in patent claims being narrowed,
invalidated or held unenforceable, in whole or in part, which could limit our ability to stop others from using or commercializing similar
technology, without payment to us, or could limit the duration of the patent protection covering our products. Such challenges may also
result in our inability to develop, manufacture or commercialize our products without infringing third-party patent rights. An inability
to incorporate technologies or features that are important or essential to our products could have a material adverse effect on our business,
financial condition and results of operations, and may prevent us from selling our current and/or planned products. Any litigation or
the threat of litigation may adversely our reputation, or affect our ability to hire employees or contract with independent contractors.
A loss of intellectual property, key personnel or their work product could hamper or prevent our ability to develop and commercialize
new products, which could harm our business. Even if we are successful in defending against these claims, litigation could result in
irreparable damage, substantial costs and be a distraction to management and other employees. Any of the foregoing could have a material
adverse effect on our business, financial condition, results of operations and prospects.
Additionally,
we may be subject to claims from third parties challenging our ownership interest in intellectual property rights we regard as our own,
including based on claims that our employees, consultants, advisors or contractors have breached an obligation to assign inventions to
another employer, to a former employer, or to another person or entity. Litigation may be necessary to defend against any other claims,
and it may be necessary or we may desire to enter into a license to settle any such claim; however, there can be no assurance that we
would be able to obtain a license on commercially reasonable terms, if at all. If our defense to those claims fails, in addition to paying
monetary damages, a court could prohibit us from using technologies or features that are essential to our products, if such technologies
or features are found to incorporate or be derived from the trade secrets or other proprietary information of the former employers.
In
addition, while it is our policy to require our employees, consultants, advisors, contractors and other third parties who may be involved
in the conception or development of intellectual property rights to execute agreements assigning such intellectual property rights to
us, we may be unsuccessful in executing such an agreement with each party who, in fact, conceives or develops intellectual property rights
that we regard as our own. The assignment of intellectual property rights may not be self-executing, or the assignment agreements may
be breached, and we may be forced to bring claims against third parties, or defend claims that they may bring against us, to determine
the ownership of what we regard as our intellectual property rights. Furthermore, individuals executing agreements with us may have preexisting
or competing obligations to a third party, such as an academic institution, and thus an agreement with us may be ineffective in perfecting
ownership of inventions developed by that individual. Such claims could have a material adverse effect on our business, financial condition,
results of operations, and prospects.
22
Changes
in patent law could diminish the value of patents in general, thereby impairing our ability to protect our existing and future products.
Patent
reform legislation could increase the uncertainties and costs surrounding the prosecution of patent applications and the enforcement
or defense of issued patents. In 2011, the Leahy-Smith America Invents Act (Leahy-Smith Act) was signed into law. The Leahy-Smith Act
includes a number of significant changes to United States patent law. These include provisions that affect the way patent applications
are prosecuted and also may affect patent litigation. These also include provisions that switched the United States from a first-to-invent
system to a first-inventor-to-file system, allow third-party submission of prior art to the USPTO during patent prosecution and set forth
additional procedures to attack the validity of a patent by the USPTO administered post grant proceedings, including post-grant review,
inter partes
review and derivation proceedings. Under a first-inventor-to-file system, assuming the other requirements for patentability
are met, the first inventor to file a patent application generally will be entitled to the patent on an invention regardless of whether
another inventor was the first to invent the claimed invention. The USPTO recently developed new regulations and procedures to govern
administration of the Leahy-Smith Act, and many of the substantive changes to patent law associated with the Leahy-Smith Act, and in
particular, the first to file provisions, became effective in 2013. The Leahy-Smith Act and its implementation could increase the uncertainties
and costs surrounding the prosecution of our patent applications and the enforcement or defense of our issued patents, all of which could
have a material adverse effect on our business, financial condition and results of operations.
In
addition, patent reform legislation may pass in the future that could lead to additional uncertainties and increased costs surrounding
the prosecution, enforcement and defense of our patents and applications. Furthermore, the United States Supreme Court and the United
States Court of Appeals for the Federal Circuit have made, and will likely continue to make, changes in how the patent laws of the United
States are interpreted. Recent United States Supreme Court rulings have narrowed the scope of patent protection available in certain
circumstances and weakened the rights of patent owners in certain situations. This combination of events has created uncertainty with
respect to the validity and enforceability of patents, once obtained. Similarly, foreign courts have made, and will likely continue to
make, changes in how the patent laws in their respective jurisdictions are interpreted. We cannot predict future changes in the interpretation
of patent laws or changes to patent laws that might be enacted into law by United States and foreign legislative bodies. Those changes
may materially affect our patents or patent applications and our ability to obtain additional patent protection in the future. Any of
the foregoing could have a material adverse effect on our business, financial condition, results of operations and prospects.
If
our trademarks and tradenames are not adequately protected, then we may not be able to build name recognition in our markets and our
business may be adversely affected.
Our
current and future trademark applications in the United States and in foreign jurisdictions may not be allowed or may subsequently be
opposed. Once filed and registered, our trademarks or trade names may be challenged, infringed, circumvented, declared generic or determined
to be violating or infringing on other marks. We may not be able to protect our rights to these trademarks and trade names or may be
forced to stop using these trademarks or trade names, which we need to build name recognition among potential partners and customers
in our markets of interest. At times, competitors or other third parties may adopt trade names or trademarks similar to ours, thereby
impeding our ability to build brand identity and possibly leading to market confusion. As a means to enforce our trademark rights and
prevent infringement, we may be required to file trademark claims against third parties or initiate trademark opposition proceedings,
which can be expensive and time-consuming. In addition, there could be potential trade name or trademark infringement or dilution claims
brought by owners of other trademarks. Over the long term, if we are unable to establish name recognition based on our trademarks and
trade names, then we may not be able to compete effectively and our business may be adversely affected.
We
have not yet registered certain trademarks in all of our potential markets. If we apply to register trademarks in the United States and
other countries, our applications may not be allowed for registration in a timely fashion or at all, and our registered trademarks may
not be maintained or enforced. During trademark registration proceedings, we may receive rejections. Although we would be given an opportunity
to respond to those rejections, we may be unable to overcome such rejections. In addition, in the USPTO and in comparable agencies in
many foreign jurisdictions, third parties are given an opportunity to oppose pending trademark applications and to seek to cancel registered
trademarks. Opposition or cancellation proceedings may be filed against our trademark applications and registrations, and our trademarks
may not survive such proceedings. If we do not secure registrations for our trademarks, we may encounter more difficulty in enforcing
them against third parties than we otherwise would.
Our
efforts to enforce or protect our rights related to trademarks, trade secrets, domain names or other intellectual property rights may
be ineffective, could result in substantial costs and diversion of resources and could adversely affect our business, financial condition
and results of operations.
23
We
may become involved in lawsuits to protect or enforce our patents or other intellectual property rights, which could be expensive, time
consuming and unsuccessful.
Competitors
or other third parties may infringe, misappropriate or otherwise violate our patents or other intellectual property rights, or we may
be required to defend against claims of infringement, misappropriation or other violations. In addition, our patents also may become
involved in inventorship, priority or validity disputes. To counter or defend against such claims can be expensive and time-consuming.
Any claims we assert against perceived infringers could provoke those parties to assert counterclaims against us alleging that we infringe
their patents or other intellectual property or that our intellectual property is invalid or unenforceable. In any such proceeding, a
court or other administrative body may decide that a patent or other intellectual property right owned by us is invalid or unenforceable,
or may refuse to stop the other party from using the technology at issue on the grounds that our patents do not cover such technology.
Grounds for a validity challenge could include an alleged failure to meet any of several statutory requirements, including lack of novelty,
obviousness, lack of written description, non-enablement or failure to claim patent-eligible subject matter. Grounds for an unenforceability
assertion could include an allegation that someone connected with prosecution of the patent withheld information material to patentability
from the USPTO, or made a misleading statement, during prosecution. Third parties also may raise similar claims before administrative
bodies in the United States or abroad, even outside the context of litigation. Such mechanisms include reexamination, post-grant review,
inter partes
review, interference proceedings, derivation proceedings and equivalent proceedings in foreign jurisdictions, including
opposition proceedings. Such proceedings could result in the revocation or cancellation of or amendment to our patents in such a way
that they no longer cover our products or prevent third parties from competing with our products. The outcome following legal assertions
of invalidity and unenforceability is unpredictable. With respect to the validity question, for example, we cannot be certain that there
is no invalidating prior art, of which the patent examiner and we or our partners were unaware during prosecution. If a third party were
to prevail on a legal assertion of invalidity or unenforceability, we could lose at least part, and perhaps all, of the patent protection
on our products. An adverse result in any litigation or other proceeding could put one or more of our patents at risk of being invalidated
or interpreted narrowly. Furthermore, because of the substantial amount of discovery required in connection with intellectual property
litigation, there is a risk that some of our confidential information could be compromised by disclosure during litigation.
Moreover,
some of our owned and patents and patent applications may in the future be co-owned with third parties. If we are unable to obtain an
exclusive license to any such third party co-owners' interest in such patents or patent applications, such co-owners may be able
to license their rights to other third parties, including our competitors, and our competitors could market competing products or technology.
In addition, we may need the cooperation of any such co-owners of our patents in order to enforce such patents against third parties,
and such cooperation may not be provided to us. Any of the foregoing could have a material adverse effect on our business, financial
condition or results of operations.
Even
if resolved in our favor, litigation or other proceedings relating to intellectual property claims may cause us to incur significant
expenses and could distract our management and other personnel from their normal responsibilities. In addition, there could be public
announcements of the results of hearings, motions or other interim proceedings or developments, and if securities analysts or investors
perceive these results to be negative, it could have a substantial adverse effect on the price of our securities. Such litigation or
proceedings could substantially increase our operating losses and reduce the resources available for development activities or any future
sales, marketing or distribution activities. We may not have sufficient financial or other resources to conduct such litigation or proceedings
adequately. Some of our competitors may be able to sustain the costs of such litigation or proceedings more effectively than we can because
of their greater financial resources and more mature and developed intellectual property portfolios. Uncertainties resulting from the
initiation and continuation of patent litigation or other proceedings could have a material adverse effect on our ability to compete
in the marketplace. Any of the foregoing could have a material adverse effect on our business, financial condition or results of operations.
24
Third
parties may initiate legal proceedings alleging that we are infringing, misappropriating, or otherwise violating their intellectual property
rights, the outcome of which would be uncertain and could have a material adverse effect on the success of our business.
The
intellectual property landscape in the field of agriculture is in flux, and it may remain uncertain for the coming years. There may be
significant intellectual property related litigation and proceedings relating to our intellectual property position and proprietary rights
in the future. Given the number of patents in our field of technology, we cannot be certain or guarantee that we do not infringe existing
patents or that we will not infringe patents that may be granted in the future. As we move into new markets and applications for our
products, incumbent participants in such markets may assert their patents and other intellectual property rights against us as a means
of slowing our entry into such markets or as a means of extracting substantial license and royalty payments from us. Our competitors
and others may now and, in the future, have significantly larger and more mature patent portfolios than we currently have. In addition,
future litigation may involve patent holding companies or other adverse patent owners who have no relevant product or service revenue
and against whom our own patents may provide little or no deterrence or protection. Therefore, our commercial success depends in part
on our ability and the ability of our future collaborators to develop, manufacture, market and sell our products and use our proprietary
technologies without infringing, misappropriating or otherwise violating the patents or other intellectual property rights of third parties.
Third
parties may assert infringement, misappropriation or other violation claims against us based on existing patents, patents or other intellectual
property that may be granted in the future, regardless of their merit. Therefore, we may in the future be subject to claims that we,
or other parties we have agreed to indemnify, infringe, misappropriate or otherwise violate patents or other intellectual property rights
owned or controlled by third parties. Because patent applications are published sometime after filing, and because applications can take
several years to issue, there may be additional currently pending third-party patent applications that are unknown to us, which may later
result in issued patents. Defense of these claims, regardless of their merit, would involve substantial litigation expenses and would
be a substantial diversion of management and employee resources from our business. We may not have sufficient resources to bring these
actions to a successful conclusion. There is a substantial amount of litigation and other patent challenges, both within and outside
the United States, involving patent and other intellectual property rights, including patent infringement lawsuits, interferences, oppositions
and
inter partes
review proceedings before the USPTO, and corresponding foreign patent offices. As the agriculture technology
industry expands and more patents are issued, the risk increases that our products and technologies may be subject to claims of infringement
of the patent rights of third parties. Numerous significant intellectual property issues may be litigated, between existing and new participants
in our existing and targeted markets, and competitors may assert that our products and technologies infringe, misappropriate or otherwise
violate their intellectual property rights as part of a business strategy to impede our successful entry into or growth in those markets.
We
could incur substantial costs and divert the attention of our management and technical personnel in defending against any of these claims.
Parties making claims against us may be able to sustain the costs of complex patent litigation more effectively than we can because they
have substantially greater resources.
Because
of the inevitable uncertainty in intellectual property litigation, we could lose a patent infringement or other intellectual property-related
action asserted against us regardless of our perception of the merits of the case. Patent and other types of intellectual property litigation
can involve complex factual and legal questions, and their outcome is uncertain. There is no assurance that a court would find in our
favor on questions of infringement, validity, enforceability, or priority. A court of competent jurisdiction could hold that third-party
patents which are asserted against us are valid, enforceable, and infringed, which could materially and adversely affect our ability
to commercialize any future products we may develop and any other future products or technologies covered by the asserted third party
patents. In order to successfully challenge the validity of any such United States patent in federal court, we would need to overcome
a presumption of validity. As this burden is a high one requiring us to present clear and convincing evidence as to the invalidity of
any such United States patent claim, there is no assurance that a court of competent jurisdiction would invalidate the claims of any
such United States patent or find that our technology did not infringe any such claims. Further, even if we were successful in defending
against any such claims, such claims could require us to divert substantial financial and management resources that we would otherwise
be able to devote to our business.
25
Parties
making infringement, misappropriation or other violation of intellectual property claims against us may be able to obtain injunctive
or other relief, which could block our ability to develop, commercialize and sell our products, and could result in the award of substantial
damages against us, including treble damages, attorney's fees, costs, and expenses if we are found to have willfully infringed.
In the event of a successful claim of infringement against us, we may be required to pay damages and ongoing royalties, which could be
significant, re-design our products in a non-infringing manner, which may not be commercially feasible, obtain one or more licenses from
third parties, or be prohibited from selling certain products. If we are required to obtain licenses from third parties, we may not be
able to obtain such licenses on acceptable or commercially reasonable terms, if at all, or these licenses may be non-exclusive, which
could result in our competitors gaining access to the same intellectual property. In addition, we could encounter delays in product introductions
while we attempt to develop alternative products to avoid infringing third-party patents or intellectual property rights. Any of the
foregoing could have a material adverse effect on our business, results of operation, financial condition and prospects. Defense of any
lawsuit or failure to obtain any of these licenses could prevent us from commercializing our technologies and products, and the prohibition
of sale of any of our products could materially affect our business and our ability to gain market acceptance for our products.
It
is also possible that we have failed to identify relevant third-party patents or applications. Because patent applications can take many
years to issue, may be confidential for 18 months or more after filing and can be revised before issuance, there may be applications
now pending which may later result in issued patents that may be infringed by our products and we may not be aware of such patents. Furthermore,
applications filed before November 29, 2000 and certain applications filed after that date that will not be filed outside the United
States may remain confidential until a patent issues. It is difficult for industry participants, including us, to identify all third-party
patent rights that may be relevant to our products because patent searching is imperfect due to differences in terminology among patents,
incomplete databases and the difficulty in assessing the meaning of patent claims. We may fail to identify relevant patents or patent
applications or may identify pending patent applications of potential interest but incorrectly predict the likelihood that such patent
applications may issue with claims of relevance to our technology. In addition, we may incorrectly conclude that a third-party patent
is invalid, unenforceable or not infringed by our activities. Additionally, pending patent applications that have been published can,
subject to certain limitations, be later amended in a manner that could cover our products.
Furthermore,
because of the substantial amount of discovery required in connection with intellectual property litigation, there is a risk that some
of our confidential information could be compromised by disclosure during this type of litigation. In addition, during the course of
this kind of litigation, there could be public announcements of the results of hearings, motions or other interim proceedings or developments.
If securities analysts or investors perceive these results to be negative, it could have a substantial adverse effect on the price of
our securities.
In
addition, our agreements with some of our customers, suppliers or other entities with whom we do business require us to defend or indemnify
these parties to the extent they become involved in infringement claims, including the types of claims described above. We could also
voluntarily agree to defend or indemnify third parties in instances where we are not obligated to do so if we determine it would be important
to our business relationships. If we are required or agree to defend or indemnify third parties in connection with any infringement claims,
we could incur significant costs and expenses that could adversely affect our business, operating results or financial condition.
Obtaining
and maintaining our patent protection depends on compliance with various required procedures, document submissions, fee payments and
other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated as a result of non-compliance
with these requirements.
Periodic
maintenance fees, renewal fees, annuity fees and various other governmental fees on patents and/or applications will be due to be paid
to the USPTO and various governmental patent agencies outside of the United States at several stages over the lifetime of the patents
and patent applications. We have systems in place to remind us to pay these fees, and we employ an outside firm and rely on our outside
counsel to pay these fees due to non-United States patent agencies. The USPTO and various non-US governmental patent agencies require
compliance with a number of procedural, documentary, fee payment and other similar provisions during the patent application process.
An inadvertent lapse or non-compliance with such requirements can sometimes be cured by payment of a late fee or by other means in accordance
with the applicable rules. However, there are situations in which non-compliance can result in abandonment or lapse of the patent or
patent application, resulting in partial or complete loss of patent rights in the relevant jurisdiction. In such an event, our competitors
may be able to enter the market without infringing our patents and this circumstance would have a material adverse effect on our business,
financial condition, results of operations and prospects.
26
Issued
patents covering our present and future products could be found invalid or unenforceable if challenged.
The
issuance of a patent is not conclusive as to its inventorship, scope, validity or enforceability of our patents and patent applications
may be challenged in courts or patent offices in the United States and abroad. For example, we may be subject to third-party submissions
of prior art to the USPTO challenging the validity of one or more claims in our patents. Such submissions may also be made prior to a
patent's issuance, precluding the granting of a patent based on one of our pending patent applications. We may also become involved
in opposition, derivation, reexamination,
inter partes
review, post-grant review or interference proceedings. Additionally, if
we initiate or become involved in legal proceedings against a third party to enforce a patent covering one of our products or technologies,
the defendant could counterclaim that the patent covering our products is invalid or unenforceable. In patent litigation in the United
States, counterclaims alleging invalidity or unenforceability are commonplace. The outcome following legal assertions of invalidity and
unenforceability is unpredictable. With respect to the validity question, for example, we cannot be certain that there is no invalidating
prior art of which we and the patent examiner were unaware during prosecution. If a third party were to prevail on a legal assertion
of invalidity or unenforceability, we would lose at least part, and perhaps all, of the patent protection on our current products and
other products that we may develop.
A
successful third-party challenge to our patents could result in the unenforceability or invalidity of such patents, allow third parties
to commercialize our technology or products and compete directly with us, without payment to us, limit the scope and duration of the
patent protection of our products or result in our inability to manufacture or commercialize products without infringing third-party
patent rights, which could have a material adverse impact on our business. Furthermore, if the breadth or strength of protection provided
by our patents and patent applications is threatened, regardless of the outcome, it could dissuade companies from collaborating with
us to license, develop or commercialize current or future products. Such challenges also may result in substantial cost and require significant
time from our scientists and management, even if the eventual outcome in favorable to us.
Third
parties may have developed technologies that may be related or competitive to our own technologies and such third parties may have filed
or may file patent applications, or may have obtained or may obtain patents, claiming inventions that may overlap or conflict with those
claimed in our patent applications or issued patents. We may not be aware of all third-party intellectual property rights potentially
relating to our current or future products. Publications of discoveries in the scientific literature often lag behind the actual discoveries,
and patent applications in the United States and other jurisdictions are typically not published until approximately 18 months after
filing or, in some cases, not until such patent applications issue as patents or at all. We, or our current or future license partners
or collaborators, might not have been the first to make the inventions covered by each of our pending patent applications and we might
not have been the first to file patent applications for these inventions. To determine the priority of these inventions, we may have
to participate in interference proceedings, derivation proceedings or other post-grant proceedings declared by the USPTO. The outcome
of such proceedings is uncertain, and other patent applications may have priority over our patent applications. Such proceedings could
also result in substantial costs to us and divert our management's attention and resources. If a third party can establish that
we were not the first to make or the first to file for patent protection of such inventions, our patent applications may not issue as
patents and even if issued, may be challenged and invalidated or rendered unenforceable.
Patent
terms may be inadequate to protect our competitive position on our products for an adequate amount of time.
Patents
have a limited lifespan. In the United States, if all maintenance fees are timely paid, the natural expiration of a patent is generally
20 years from its earliest United States non-provisional filing date. Various extensions may be available, but the life of a patent,
and the protection it affords, is limited.
Even
if patents covering our products are obtained, once the patent life has expired, we may be open to competition from competitive products.
As a result, our owned and licensed patent portfolio may not provide us with sufficient rights to exclude others from commercializing
products similar or identical to ours.
We
may not be able to protect our intellectual property rights throughout the world.
Third
parties may attempt to develop and commercialize competitive products in foreign countries where we do not own any patents or patent
applications or where legal recourse may be limited. This may have a significant commercial impact on our foreign business operations.
27
Filing,
prosecuting and defending patents on our products in all countries throughout the world would be prohibitively expensive, and the laws
of foreign countries may not protect our rights to the same extent as the laws of the United States, even in jurisdictions where we do
pursue patent protection. In some cases, we may not be able to obtain patent protection for certain products outside the United States.
Consequently, we may not be able to prevent third parties from practicing our inventions in all countries outside the United States,
even in jurisdictions where we a do pursue patent protection, or from selling or importing products made using our inventions in and
into the United States or other jurisdictions. Competitors may use our other products and technologies in jurisdictions where we have
not obtained patent protection to develop their own products and, further, may export otherwise infringing products to territories where
we have patent protection but enforcement is not as strong as that in the United States. These products may compete with our products
and our patents or other intellectual property rights may not be effective or sufficient to prevent them from competing.
Many
companies have encountered significant problems in protecting and defending intellectual property rights in foreign jurisdictions. The
legal systems of certain countries, particularly certain developing countries, do not favor the enforcement of patents, trade secrets
and other intellectual property protection, which could make it difficult for us to stop the infringement of our patents, if pursued
or obtained, or marketing of competing products in violation of our intellectual property rights generally. Proceedings to enforce our
intellectual property rights in foreign jurisdictions could result in substantial costs and divert our efforts and attention from other
aspects of our business, could put our patents at risk of being invalidated or interpreted narrowly, could put our patent applications
at risk of not issuing and could provoke third parties to assert claims against us. We may not prevail in any lawsuits that we initiate,
and the damages or other remedies awarded, if any, may not be commercially meaningful. Accordingly, our efforts to enforce our intellectual
property rights around the world may be inadequate to obtain a significant commercial advantage from the intellectual property that we
develop or license.
Many
countries, including India, China, and certain countries in Europe, have compulsory licensing laws under which a patent owner may be
compelled to grant licenses to third parties. In addition, many countries limit the enforceability of patents against government agencies
or government contractors. In these countries, the patent owner may have limited remedies, which could materially diminish the value
of such patent. If we or any of our future licensors are forced to grant a license to third parties with respect to any patents relevant
to our business, our competitive position may be impaired, and our business, financial condition and results of operations may be adversely
affected.
Intellectual
property rights do not necessarily address all potential threats.
The
degree of current and future protection afforded by our intellectual property rights is uncertain because intellectual property rights
have limitations and may not adequately protect our business or permit us to maintain our competitive advantage. For example:
●
others
    may be able to make products that are not covered by the claims of our patents or that incorporates certain technology in our products
    that is in the public domain;
●
we,
    or our current or future licensors or collaborators, might not have been the first to make the inventions covered by the applicable
    issued patent or pending patent application that we own or license now or may own or license in the future;
●
we,
    or our future licensors or collaborators, might not have been the first to file patent applications covering certain of our or their
    inventions;
●
others
    may independently develop similar or alternative technologies or duplicate any of our technologies without infringing our intellectual
    property rights;
●
it
    is possible that our current or future pending patent applications will not lead to issued patents;
●
issued
    patents that we hold rights to may be held invalid or unenforceable, including as a result of legal challenges by our competitors
    or other third parties;
●
others
    may have access to the same intellectual property rights licensed to us in the future on a nonexclusive basis;
●
our
    competitors or other third parties might conduct research and development activities in countries where we do not have patent rights
    and then use the information learned from such activities to develop competitive technologies and products for sale in our major
    commercial markets;
●
we
    may not develop additional proprietary technologies that are patentable;
●
the
    patents of others may harm our business; and
●
we
    may choose not to file a patent in order to maintain certain trade secrets or know-how, and a third party may subsequently file a
    patent covering such intellectual property rights.
28
Any
of the foregoing could have a material adverse effect on our business, financial condition and results of operations.
Risks
Related to Our Capital Structure
The
structure of our capital stock as contained in our Certificate of Incorporation, as amended, has the effect of concentrating voting control
with Jonathan Destler, limiting your ability to influence corporate matters.
Our
Series A Preferred Stock entitles its holder to a number of votes that is equal to 110% of the issued and outstanding shares of our common
stock, and our common stock, which is the stock we are offering in this initial public offering, has one vote per share. Our co-founder,
director and Chief Executive Officer, Jonathan Destler, owns the sole outstanding share of our Series A Preferred Stock. The holders
of our outstanding common stock, excluding Mr. Destler, will hold     % of the voting power of our outstanding capital stock following
this offering, with Mr. Destler holding    % of such voting power in the aggregate, assuming an initial public offering price of $     
per unit (which is the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus)
and assuming no exercise of the underwriters' option to purchase additional shares. Mr. Destler will retain greater than 50% of
the voting power even if he reduces, potentially significantly, his economic interest in shares of our common stock. Therefore, Mr. Destler
will control our management and affairs and all matters requiring stockholder approval, including election of directors and significant
corporate transactions, such as a merger or other sale of us or our assets, for the foreseeable future. Additionally, each share of Series
A Preferred Stock shall automatically convert into one share of common stock upon the first to occur of (a) a transfer of such share
of Series A Preferred Stock other than to Mr. Destler, (b) the death or incapacity of Mr. Destler, or (c) the resignation of Mr. Destler
as an officer of our company. Each share of Series A Preferred Stock is convertible into one share of common stock, at the election of
the holder of the Series A Preferred Stock.
So
long as Mr. Destler holds his one share of Series A Preferred Stock, he will have voting control of us. This concentrated control will
limit your ability to influence corporate matters for the foreseeable future, and, as a result, the market price of our common stock
could be adversely affected.
As
a board member, Mr. Destler owes a fiduciary duty to our stockholders and must act in good faith in a manner he reasonably believes to
be in the best interests of our stockholders. As a stockholder, even a controlling stockholder, Mr. Destler is entitled to vote his shares
in his own interests, which may not always be in the interests of our stockholders generally.
Our
Co-founder, Chairman and Chief Executive Officer will continue to own a significant percentage of our common stock and our Series A Preferred
Stock and will be able to exert significant control over matters subject to stockholder approval.
Jonathan
Destler, our co-founder, Chairman and Chief Executive Officer, currently beneficially owns common stock and Series A Preferred Stock
that provide him with % of the voting power of our voting stock. Upon the closing of this offering, he will beneficially own approximately
% of the voting power of our outstanding voting stock, assuming an initial public offering price of $ per unit (which is the midpoint
of the estimated range of the initial public offering price shown on the cover page of this prospectus) and assuming no exercise of the
underwriters' option to purchase additional shares. Therefore, even after this offering, he will have the ability to control us
through this ownership position. For example, he may be able to control elections of directors, amendments of our organizational documents,
or approval of any merger, sale of assets, or other major corporate transaction. Mr. Destler's interests may not always coincide
with our corporate interests or the interests of other stockholders, and he may act in a manner with which you may not agree or that
may not be in the best interests of our other stockholders. So long as he continues to owns his sole share of Series A Preferred Stock
or a significant amount of our equity, he will continue to be able to effectively control our decisions.
The
structure of our capital stock, involving Series A Preferred Stock, may adversely affect the trading market for our securities.
Certain
stock index providers, such as S&P Dow Jones, Russell 2000, S&P 500, S&P MidCap 400 and S&P SmallCap 600 exclude companies
with multiple classes of capital stock from being added to certain stock indices. In addition, several stockholder advisory firms and
large institutional investors oppose the use of multiple class structures. As a result, the dual class structure of our capital stock
may prevent the inclusion of our common stock in such indices, may cause stockholder advisory firms to publish negative commentary about
our corporate governance practices or otherwise seek to cause us to change our capital structure, and may result in large institutional
investors not purchasing shares of our common stock. Any exclusion from stock indices could result in a less active trading market for
our securities. Any actions or publications by stockholder advisory firms or institutional investors critical of our corporate governance
practices or capital structure could also adversely affect the value of our securities.
Risks
Associated With This Offering
We
will incur increased costs as a result of operating as a public company, and our management will be required to devote substantial time
to new compliance initiatives.
As
a public company, we will incur significant legal, accounting and other expenses that we did not incur as a private company. We will
be subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, or the Exchange Act, which will require,
among other things, that we file with the SEC annual, quarterly and current reports with respect to our business and financial condition.
In addition, the Sarbanes-Oxley Act of 2002, as amended, or Sarbanes-Oxley Act, as well as rules subsequently adopted by the SEC and
the Nasdaq Capital Market to implement provisions of the Sarbanes-Oxley Act, impose significant requirements on public companies, including
requiring establishment and maintenance of effective disclosure and financial controls and changes in corporate governance practices.
Further, in July 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act, or the Dodd-Frank Act, was enacted. There are significant
corporate governance and executive compensation related provisions in the Dodd-Frank Act that require the SEC to adopt additional rules
and regulations in these areas, such as "say on pay" and proxy access. Emerging growth companies may implement many of these
requirements over a longer period and up to five years from the pricing of this offering. We intend to take advantage of these extended
transition periods, but cannot guarantee that we will not be required to implement these requirements sooner than budgeted or planned
and thereby incur unexpected expenses. Stockholder activism, the current political environment and the current high level of government
intervention and regulatory reform may lead to substantial new regulations and disclosure obligations, which may lead to additional compliance
costs and impact the manner in which we operate our business in ways we cannot currently anticipate.
We
expect the rules and regulations applicable to public companies to substantially increase our legal and financial compliance costs and
to make some activities more time-consuming and costly. If these requirements divert the attention of our management and personnel from
other business concerns, they could have a material adverse effect on our business, financial condition and results of operations. The
increased costs will decrease our net income or increase our net loss and may require us to reduce costs in other areas of our business
or increase the prices of our products or services. For example, we expect these rules and regulations to make it more difficult and
more expensive for us to obtain director and officer liability insurance and we may be required to incur substantial costs to maintain
the same or similar coverage. We cannot predict or estimate the amount or timing of additional costs we may incur to respond to these
requirements. The impact of these requirements could also make it more difficult for us to attract and retain qualified persons to serve
on our board of directors, our board committees or as executive officers.
If
we fail to establish and maintain proper and effective internal control over financial reporting, our operating results and our ability
to operate our business could be harmed.
Ensuring
that we have adequate internal financial and accounting controls and procedures in place so that we can produce accurate financial statements
on a timely basis is a costly and time-consuming effort that needs to be re-evaluated frequently. Our internal control over financial
reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation
of financial statements in accordance with generally accepted accounting principles. In connection with this offering, we intend to begin
the process of documenting, reviewing and improving our internal controls and procedures for compliance with Section 404 of the Sarbanes-Oxley
Act, which will require annual management assessment of the effectiveness of our internal control over financial reporting. We have begun
recruiting additional finance and accounting personnel with certain skill sets that we will need as a public company.
29
Implementing
any appropriate changes to our internal controls may distract our officers and employees, entail substantial costs to modify our existing
processes, and take significant time to complete. These changes may not, however, be effective in maintaining the adequacy of our internal
controls, and any failure to maintain that adequacy, or consequent inability to produce accurate financial statements on a timely basis,
could increase our operating costs and harm our business. In addition, investors' perceptions that our internal controls are inadequate
or that we are unable to produce accurate financial statements on a timely basis may harm our the price of our securities and make it
more difficult for us to effectively market and sell any of our present or future product candidates that may receive regulatory approval.
Our
disclosure controls and procedures may not prevent or detect all errors or acts of fraud.
Upon
completion of this offering, we will become subject to certain reporting requirements of the Exchange Act. Our disclosure controls and
procedures are designed to reasonably assure that information required to be disclosed by us in reports we file or submit under the Exchange
Act is accumulated and communicated to management, recorded, processed, summarized and reported within the time periods specified in
the rules and forms of the SEC. We believe that any disclosure controls and procedures or internal controls and procedures, no matter
how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met.
These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because
of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or
more people or by an unauthorized override of the controls. Accordingly, because of the inherent limitations in our control system, misstatements
or insufficient disclosures due to error or fraud may occur and not be detected.
The
market price of our securities is likely to be volatile, which could result in substantial losses for purchasers of our securities in
this offering or could subject us to litigation.
The
trading prices of the securities of technology companies have been highly volatile. Accordingly, the market price of our common stock
and warrants is likely to be subject to wide fluctuations. Factors affecting the market price of our common stock and warrants include:
●
variations
    in our operating results, earnings per share, cash flows from operating activities, deferred revenue, and other financial metrics
    and non-financial metrics, and how those results compare to analyst expectations;
●
forward
    looking guidance to industry and financial analysts related to future revenue and earnings per share;
●
the
    net increases in the number of customers and paying subscriptions, either independently or as compared with published expectations
    of industry, financial or other analysts that cover our company;
●
changes
    in the estimates of our operating results or changes in recommendations by securities analysts that elect to follow our securities;
●
announcements
    of technological innovations, new services or service enhancements, strategic alliances or significant agreements by us or by our
    competitors;
●
announcements
    by us or by our competitors of mergers or other strategic acquisitions, or rumors of such transactions involving us or our competitors;
●
announcements
    of customer additions and customer cancellations or delays in customer purchases;
●
recruitment
    or departure of key personnel;
●
disruptions
    in our service due to computer hardware, software or network problems;
●
the
    economy as a whole, market conditions in our industry, and the industries of our customers; and
●
trading
    activity by a limited number of stockholders who beneficially own a majority of our outstanding voting power.
30
In
addition, if the market for technology stocks or the stock market in general experiences uneven investor confidence, the market price
of our securities could decline for reasons unrelated to our business, operating results or financial condition. The market price of
our securities might also decline in reaction to events that affect other companies within, or outside, our industry even if these events
do not directly affect us. As a result of this volatility, you may not be able to sell your securities at or above the initial public
offering price. Some companies that have experienced volatility in the trading price of their securities have been the subject of securities
class action litigation. If we are to become the subject of such litigation, it could result in substantial costs and a diversion of
management's attention and resources.
An
active trading market for our securities may not develop, and you may not be able to resell your securities at or above the initial public
offering price.
Prior
to this offering, there has been no public market for shares of our common stock or warrants included in the units being offered. Although
we intend to apply to list shares of our common stock and warrants on The Nasdaq Capital Market, an active trading market for our common
stock and warrants may never develop or be sustained following this offering. The initial public offering price of our securities was
determined through negotiations between us and the underwriters. Among the factors considered in determining the initial offering price
were our future prospects and the prospects of our industry in general, our revenue, net income and certain other financial and operating
information in recent periods, and the financial ratios, market prices of securities and certain financial and operating information
of companies engaged in activities similar to ours. However, there can be no assurance that following this offering our shares of common
stock or warrants will trade at a price equal to or greater than the offering price. In the absence of an active trading market for our
securities, investors may not be able to sell their securities at or above the initial public offering price or at the time that they
would like to sell.
Our
failure to meet the continuing listing requirements of The NASDAQ Capital Market could result in a de-listing of our securities.
If
we fail to satisfy the continuing listing requirements of NASDAQ, such as the corporate governance, stockholders' equity or minimum
closing bid price requirements, NASDAQ may take steps to delist our securities. Such a delisting would likely have a negative effect
on the price of our securities and would impair your ability to sell or purchase our securities when you wish to do so. In the event
of a delisting, we would likely take actions to restore our compliance with NASDAQ's listing requirements, but we can provide no
assurance that any such action taken by us would allow our securities to become listed again, stabilize the market price or improve the
liquidity of our securities, prevent our securities from dropping below the NASDAQ minimum bid price requirement or prevent future non-compliance
with NASDAQ's listing requirements.
Our
securities may be subject to the "penny stock" rules of the SEC and the trading market in our securities is limited, which
makes transactions in our stock cumbersome and may reduce the value of an investment in our stock.
The
SEC has adopted Rule 15g-9 which establishes the definition of a "penny stock," for the purposes relevant to us, as any equity
security that has a market price of less than $5.00 per share or with an exercise price of less than $5.00 per share, subject to certain
exceptions. For any transaction involving a penny stock, unless exempt, the rules require:
●
that
    a broker or dealer approve a person's account for transactions in penny stocks; and
●
the
    broker or dealer receive from the investor a written agreement to the transaction, setting forth the identity and quantity of the
    penny stock to be purchased.
In
order to approve a person's account for transactions in penny stocks, the broker or dealer must:
●
obtain
    financial information and investment experience objectives of the person; and
●
make
    a reasonable determination that the transactions in penny stocks are suitable for that person and the person has sufficient knowledge
    and experience in financial matters to be capable of evaluating the risks of transactions in penny stocks.
31
The
broker or dealer must also deliver, prior to any transaction in a penny stock, a disclosure schedule prescribed by the SEC relating to
the penny stock market, which:
●
sets
    forth the basis on which the broker or dealer made the suitability determination; and
●
affirms
    that the broker or dealer received a signed, written agreement from the investor prior to the transaction.
Generally,
brokers may be less willing to execute transactions in securities subject to the "penny stock" rules. This may make it more
difficult for investors to dispose of our securities and cause a decline in the market value of our securities.
Disclosure
also has to be made about the risks of investing in penny stocks in both public offerings and in secondary trading and about the commissions
payable to both the broker-dealer and the registered representative, current quotations for the securities and the rights and remedies
available to an investor in cases of fraud in penny stock transactions. Finally, monthly statements have to be sent disclosing recent
price information for the penny stock held in the account and information on the limited market in penny stocks.
Shareholders
should be aware that, according to SEC Release No. 34-29093, the market for "penny stocks" has suffered in recent years from
patterns of fraud and abuse. Such patterns include (1) control of the market for the security by one or a few broker-dealers that are
often related to the promoter or issuer; (2) manipulation of prices through prearranged matching of purchases and sales and false and
misleading press releases; (3) boiler room practices involving high-pressure sales tactics and unrealistic price projections by inexperienced
sales persons; (4) excessive and undisclosed bid-ask differential and markups by selling broker-dealers; and (5) the wholesale dumping
of the same securities by promoters and broker-dealers after prices have been manipulated to a desired level, along with the resulting
inevitable collapse of those prices and with consequent investor losses. Our management is aware of the abuses that have occurred historically
in the penny stock market. Although we do not expect to be in a position to dictate the behavior of the market or of broker-dealers who
participate in the market, management will strive within the confines of practical limitations to prevent the described patterns from
being established with respect to our securities. Unless our securities are approved for listing on Nasdaq, the occurrence of these patterns
or practices could increase the future volatility of our share price.
If
securities analysts do not publish research or reports about our business or if they publish negative evaluations of our stock, the price
of our stock could decline.
The
trading market for our securities will rely in part on the research and reports that industry or financial analysts publish about us
or our business. We may never obtain research coverage by industry or financial analysts. If no or few analysts commence coverage of
us, the trading price of our stock would likely decrease. Even if we do obtain analyst coverage, if one or more of the analysts covering
our business downgrade their evaluations of our stock, the price of our stock could decline. If one or more of these analysts cease to
cover our stock, we could lose visibility in the market for our stock, which in turn could cause the price of our securities to decline.
If
securities or industry analysts adversely change their recommendations regarding our securities or if our operating results do not meet
their expectations, the price of our securities could decline.
The
trading market for our securities will be influenced by the research and reports that industry or securities analysts publish about us
or our business. If one or more of these analysts cease coverage of our company or fail to publish reports on us regularly, we could
lose visibility in the financial markets, which in turn could cause the price of our securities or trading volume to decline. Moreover,
if one or more of the analysts who cover our company downgrades our securities or if our operating results do not meet their expectations,
the price of our securities could decline.
32
If
you purchase our securities in this offering, you will incur immediate and substantial dilution in the book value of your shares.
You
will suffer immediate and substantial dilution in the net tangible book value of the common stock included in the units you purchase
in this offering. Based on the assumed initial public offering price of $ per unit, which is the midpoint of the estimated offering range
set forth on the cover page of this prospectus, and assuming no exercise of the warrants being offered in this offering, purchasers of
units in this offering will experience immediate dilution of $ per share (or $ per share if the underwriters exercise the over-allotment
option to purchase additional shares of common stock and warrants in full), with respect to the net tangible book value of the common
stock included in the units. In addition, investors purchasing units in this offering will contribute % of the total amount invested
by stockholders since inception but will only own % of the shares of common stock outstanding. In the past, we issued options and other
securities to acquire common stock at prices significantly below the initial public offering price. To the extent these outstanding securities
are ultimately exercised, investors purchasing units in this offering will sustain further dilution. See the section of this prospectus
titled "Dilution" for a more detailed description of the dilution to new investors in the offering.
The
one share of Series A Preferred Stock held by Jonathan Destler entitles him to voting power equal to 110% of the issued and outstanding
shares of common stock. Therefore, the issuance of additional shares of our common stock will cause Mr. Destler's voting power
to increase and further dilute the voting power of other stockholders. For example, if we issue 1,000,000 shares in this offering, Mr.
Destler's voting power will increase by the equivalent of voting power equal to 1,100,000 shares of common stock. Issuing new shares
dilutes existing holders more than in a typical dual class structure, with simply voting and non-voting shares, and it may be very difficult
for the common stockholders to ever determine their voting power because of the variable voting rights of the Series A preferred stock.
The
warrants may not have any value.
The
warrants will be exercisable for five years from the date of initial issuance at an initial exercise price equal to 125% of the public
offering price per unit set forth on the cover page of this prospectus. There can be no assurance that the market price of our shares
of common stock will ever equal or exceed the exercise price of the warrants. In the event that the stock price of our shares of common
stock does not exceed the exercise price of the warrants during the period when the warrants are exercisable, the warrants may not have
any value.
Holders
of warrants purchased in this offering will have no rights as stockholders until such holders exercise their warrants and acquire shares
of our common stock.
Until
holders of the warrants purchased in this offering acquire shares of common stock upon exercise thereof, such holders will have no rights
with respect to the shares of common stock underlying the warrants. Upon exercise of the warrants, the holders will be entitled to exercise
the rights of a stockholder only as to matters for which the record date occurs after the date they were entered in the register of our
company as a stockholder.
Raising
additional capital may cause dilution to our stockholders, including purchasers of units in this offering, restrict our operations or
require us to relinquish rights to our technologies or current or future product candidates.
Until
such time, if ever, as we can generate substantial product revenues, we expect to finance our cash needs through a combination of private
and public equity offerings, debt financings, collaborations, strategic alliances and marketing, distribution or licensing arrangements.
To the extent that we raise additional capital through the sale of common stock or securities convertible or exchangeable into common
stock, your ownership interest will be diluted, and the terms of these securities may include liquidation or other preferences that materially
adversely affect your rights as a common stockholder. Debt financing, if available, would increase our fixed payment obligations and
may involve agreements that include covenants limiting or restricting our ability to take specific actions, such as incurring additional
debt, making capital expenditures or declaring dividends.
If
we raise funds through additional collaborations, strategic alliances or marketing, distribution or licensing arrangements with third
parties, we may have to relinquish valuable rights to our intellectual property, future revenue streams, research programs or current
or future product candidates or to grant licenses on terms that may not be favorable to us. If we are unable to raise additional funds
through equity or debt financings when needed, we may be required to delay, scale back or discontinue the development and commercialization
of one or more of our product candidates, delay our pursuit of potential in-licenses or acquisitions or grant rights to develop and market
current or future product candidates that we would otherwise prefer to develop and market ourselves.
We
may issue additional equity securities, or engage in other transactions that could dilute our book value or relative rights of our securities,
which may adversely affect the market price of our common stock and warrants.
Our
board of directors may determine from time to time that we need to raise additional capital by issuing additional shares of our common
stock or other securities. Except as otherwise described in this prospectus, we will not be restricted from issuing additional shares
of common stock, including securities that are convertible into or exchangeable for, or that represent the right to receive, shares of
our common stock. Because our decision to issue securities in any future offering will depend on market conditions and other factors
beyond our control, we cannot predict or estimate the amount, timing, or nature of any future offerings, or the prices at which such
offerings may be affected. Additional equity offerings may dilute the holdings of existing stockholders or reduce the market price of
our common stock and warrants, or both. Holders of our securities are not entitled to pre-emptive rights or other protections against
dilution. New investors also may have rights, preferences and privileges that are senior to, and that adversely affect, then-current
holders of our securities. Additionally, if we raise additional capital by making offerings of debt or preferred stock, upon our liquidation,
holders of our debt securities and preferred stock, and lenders with respect to other borrowings, may receive distributions of its available
assets before the holders of our common stock.
33
Anti-takeover
effects of certain provisions of Delaware state law hinder a potential takeover of our company.
We
are subject to statutory "anti-takeover" provisions under Delaware law; the provisions of Section 203 of the Delaware General
Corporation Law, an anti-takeover law. In general, Section 203 of the Delaware General Corporate Law, or DGCL, which may prohibit certain
business combinations with stockholders owning 15% or more of our outstanding voting stock. These antitakeover provisions and other provisions
in our certificate of incorporation and bylaws could make it more difficult for stockholders or potential acquirers to obtain control
of our board of directors or initiate actions that are opposed by the then-current board of directors and could also delay or impede
a merger, tender offer or proxy contest involving our company. These provisions could also discourage proxy contests and make it more
difficult for you and other stockholders to elect directors of your choosing or cause us to take other corporate actions you desire.
Any delay or prevention of a change of control transaction or changes in our board of directors could cause the market price of our securities
to decline.
Certain
provisions of our bylaws are intended to strengthen the position of our board of directors in the event of a hostile takeover attempt.
These provisions have the effect of providing our board of directors with the sole power to fill vacancies on our board of directors
and providing that stockholders may only call a special meeting by the request, in writing, of stockholders owning individually or together
ten percent or more of the entire capital stock of the corporation issued and outstanding and entitled to vote.
Therefore,
the provisions of the control share acquisition act do not apply to acquisitions of our shares and will not until such time as these
requirements have been met. At such time as they may apply to us, the provisions of the control share acquisition act may discourage
companies or persons interested in acquiring a significant interest in or control of us, regardless of whether such acquisition may be
in the interest of our stockholders.
We
may include provisions in our Certificate of Incorporation that may discourage a third party from making a proposal to acquire us, even
if some of our stockholders might consider the proposal to be in their best interests. For example, we may amend our articles of incorporation
to authorize our board of directors to issue one or more classes or series of preferred stock that could discourage or delay a tender
offer or change in control. In addition, we may enter into a stockholder rights plan, commonly known as a "poison pill,"
that may delay or prevent a change of control.
Jonathan
Destler, our Chief Executive Officer and director, is able to control all matters requiring stockholder approval, including the election
of directors and approval of significant corporate transactions.
Currently,
Mr. Destler beneficially owns approximately % of our outstanding common stock and 100% of our Series A preferred stock, which has voting
power equal to 110% of our issued and outstanding shares of common stock. Immediately following the completion of this offering, Mr.
Destler will have approximately % of the voting power of our outstanding capital stock, assuming an initial public offering price of
$ per unit (which is the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus)
and assuming no exercise of the underwriters' option to purchase additional shares. As a result, Mr. Destler has substantial voting
power in all matters submitted to our stockholders for approval, including, but not limited to:
●
Election
    of our board of directors;
●
Removal
    of any of our directors or officers;
●
Amendment
    of our Certificate of Incorporation or Bylaws;
●
Adoption
    of measures that could delay or prevent a change in control or impede a merger, takeover or other business combination involving
    us.
Additionally,
the one share of Series A Preferred Stock issued to Mr. Destler contains protective provisions, which precludes us from taking certain
actions without Mr. Destler's approval. More specifically, so long as any shares of Series A Preferred Stock are outstanding, we
are not permitted to take certain actions without first obtaining the approval (by vote or written consent, as provided by law) of the
holders of at least a majority of the then outstanding shares of Series A Preferred Stock, voting as a separate class, including for
example and without limitation, amending our articles of incorporation, changing or modifying the rights of the Series A Preferred Stock,
including increasing or decreasing the number of authorized shares of Series A Preferred Stock, increasing or decreasing the size of
the board of directors or removing the director appointed by the holders of our Series A Preferred Stock and declaring or paying any
dividend or other distribution. Mr. Destler is currently a Series A Director designated in the Certificate of Designation of the Series
A Preferred Stock.
34
We
are a "controlled company" within the meaning of the Nasdaq rules and, as a result, qualify for, and will rely on, exemptions
from certain corporate governance requirements that provide protection to the stockholders of companies that are subject to such corporate
governance requirements.
Upon
completion of this offering, Jonathan Destler, our Chief Executive Officer and Chairman of the Board, will continue to beneficially own
more than 50% of the voting power for the election of members of our board of directors. As a result, we will be a "controlled
company" within the meaning of the Nasdaq rules. Under these rules, a listed company of which more than 50% of the voting power
is held by an individual, group or another company is a "controlled company" and may elect not to comply with certain of
Nasdaq's corporate governance requirements.
As
a controlled company, we will rely on certain exemptions from the Nasdaq standards that may enable us not to comply with certain Nasdaq
corporate governance requirements. Accordingly, we have opted not to implement a stand-alone nominating and corporate governance committee
and our compensation committee will not be fully independent. As a consequence of our reliance on certain exemptions from the Nasdaq
standards provided to "controlled companies," you will not have the same protections afforded to stockholders of companies
that are subject to all of the Nasdaq corporate governance requirements. See "Management—Controlled company exception."
Sales
of a significant number of shares of our common stock or warrants in the public markets, or the perception that such sales could occur,
could depress the market price of our securities.
Sales
of a substantial number of shares of our common stock or warrants in the public markets, or the perception by the market that those sales
could occur, could depress the market price of our securities and impair our ability to raise capital through the sale of additional
equity securities. We, our directors and our executive officers have agreed not to sell, dispose of or hedge any common stock or securities
convertible into or exchangeable for shares of common stock during the period from the date of this prospectus continuing through and
including the date that is 180 days after the date of this prospectus, subject to certain exceptions. We cannot predict the effect that
future sales of our common stock or warrants would have on the market price of our securities.
We
have broad discretion to use the net proceeds from this offering and our investment of these proceeds pending any such use may not yield
a favorable return.
Our
management will have broad discretion as to the application of the remaining net proceeds from this offering upon the repayment of the
outstanding principal and interest accrued on Senior Convertible Promissory Notes, as described below in "Use of Proceeds,"
and could use them for purposes other than those contemplated at the time of the offering. Our management may use the remaining net proceeds
for corporate purposes that may not improve our financial condition or market value of our securities.
We
are an emerging growth company and a smaller reporting company, and we cannot be certain if the reduced reporting requirements applicable
to emerging growth companies and smaller reporting companies will make our securities less attractive to investors.
We
are an emerging growth company, as defined in the Jumpstart Our Business Startups Act, or JOBS Act, enacted in April 2012. For as long
as we continue to be an emerging growth company, we may take advantage of exemptions from various reporting requirements that are applicable
to other public companies that are not emerging growth companies, including not being required to comply with the auditor attestation
requirements of Section 404 of the Sarbanes-Oxley Act reduced disclosure obligations regarding executive compensation in this prospectus
and our periodic reports and proxy statements, and exemptions from the requirements of holding nonbinding advisory votes on executive
compensation and stockholder approval of any golden parachute payments not previously approved. We could be an emerging growth company
for up to five years following the year in which we complete this offering, although circumstances could cause us to lose that status
earlier. We will remain an emerging growth company until the earlier of (i) the last day of the fiscal year (a) following the fifth anniversary
of the closing of this offering, (b) in which we have total annual gross revenue of at least $1.07 billion, or (c) in which we are deemed
to be a large accelerated filer, which requires the market value of our common stock that is held by non-affiliates to exceed $700 million
as of the prior June 30th, and (ii) the date on which we have issued more than $1 billion in non-convertible debt during the prior three-year
period.
Under
the JOBS Act, emerging growth companies can also delay adopting new or revised accounting standards until such time as those standards
apply to private companies. We have elected to not "opt out" of this exemption from complying with new or revised accounting
standards and, therefore, we will adopt new or revised accounting standards at the time private companies adopt the new or revised accounting
standard and will do so until such time that we either (i) irrevocably elect to "opt out" of such extended transition period
or (ii) no longer qualify as an emerging growth company.
Even
after we no longer qualify as an emerging growth company, we may still qualify as a "smaller reporting company," which would
allow us to continue to take advantage of many of the same exemptions from disclosure requirements, including not being required to comply
with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act and reduced disclosure obligations regarding executive
compensation in this prospectus and our periodic reports and proxy statements. We cannot predict if investors will find our securities
less attractive because we may rely on these exemptions. If some investors find our common stock less attractive as a result, there may
be a less active trading market for our common stock and the price of our securities may be more volatile.
Because
we do not anticipate paying any cash dividends on our capital stock in the foreseeable future, capital appreciation, if any, will be
your sole source of gain.
We
have never declared or paid cash dividends on our capital stock. We currently intend to retain all of our future earnings, if any, to
finance the growth and development of our business. As a result, capital appreciation, if any, of our common stock will be your sole
source of gain for the foreseeable future.
After
the completion of this offering, we may be at an increased risk of securities class action litigation.
Historically,
securities class action litigation has often been brought against a company following a decline in the market price of its securities.
This risk is especially relevant for us because we are a smaller company, and smaller companies tend to experience greater volatility
in the price of their securities. If we were to be sued, it could result in substantial costs and a diversion of management's attention
and resources, which could harm our business.
35
SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This
prospectus contains forward-looking statements concerning our business, operations and financial performance and condition, as well as
our plans, objectives and expectations for our business operations and financial performance and condition. Any statements contained
herein that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, you can identify forward-looking
statements by terminology such as "aim," "anticipate," "assume," "believe," "contemplate,"
"continue," "could," "due," "estimate," "expect," "goal," "intend,"
"may," "objective," "plan," "predict," "potential," "positioned,"
"seek," "should," "target," "will," "would" and other similar expressions
that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology,
although not all forward-looking statements contain these words.
These
forward-looking statements include, but are not limited to, statements about:
●
our
    ability to continue as a going concern;
●
availability
    of additional funds in the future on acceptable terms or at all;
●
our
    estimates of our expenses, ongoing losses, future revenue, capital requirements and our need for, or ability to obtain, additional
    financing;
●
our
    ability to retain and recruit key personnel, including the continued development of our sales and marketing infrastructure;
●
our
    ability to maintain intellectual property protection for our products;
●
developments
    relating to our competitors and our industry;
●
our
    expectations regarding the period during which we will qualify as an emerging growth company under the JOBS Act;
●
our
    expected use of our existing cash and cash equivalents and the proceeds from this offering.
●
the
    impact of the COVID-19 pandemic on our business and operations;
●
other
    events or factors, including those resulting from war or incidents of terrorism;
●
anticipated
    trends and challenges in our business and the markets in which we operate; and
●
other
    risks and uncertainties, including those listed under the caption "Risk Factors."
Forward-looking
statements are based on management's current expectations, estimates, forecasts and projections about our business and the industry
in which we operate, and management's beliefs and assumptions are not guarantees of future performance or development and involve
known and unknown risks, uncertainties and other factors that are in some cases beyond our control. As a result, any or all of our forward-looking
statements in this prospectus may turn out to be inaccurate. Furthermore, if the forward-looking statements prove to be inaccurate, the
inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these
statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time
frame, or at all. Factors that may cause actual results to differ materially from current expectations include, among other things, those
described in the section entitled "Risk Factors" and elsewhere in this prospectus. Potential investors are urged to consider
these factors carefully in evaluating these forward-looking statements.
In
addition, forward-looking statements reflect our beliefs and opinions on the relevant subject. These statements are based on information
available to us as of the date of this prospectus, and while we believe that information provides a reasonable basis for these statements,
that information may be limited or incomplete. Our statements should not be read to indicate that we have conducted an exhaustive inquiry
into, or review of, all relevant information. These statements are inherently uncertain, and we may not actually achieve the plans, intentions
or expectations disclosed in our forward-looking statements. You should not place undue reliance on our forward-looking statements.
36
MARKET,
INDUSTRY AND OTHER DATA
This
prospectus contains estimates, statistical data and other information concerning our industry, market and competitive position from our
own internal estimates and research, as well as from independent market research, industry and general publications and surveys, governmental
agencies and publicly available information in addition to research, surveys and studies conducted by third parties. Internal estimates
are derived from publicly available information released by industry analysts and third-party sources, our internal research and our
industry experience, and are based on assumptions made by us based on such data and our knowledge of our industry and market, which we
believe to be reasonable. In some cases, we do not expressly refer to the sources from which this data is derived.
In
that regard, when we refer to one or more sources of this type of data in any paragraph, you should assume that other data of this type
appearing in the same paragraph is derived from the same sources, unless otherwise expressly stated or the context otherwise requires.
Industry
data and other third-party information have been obtained from sources believed to be reliable, but we have not independently verified
any third-party information. In addition, while we believe the industry, market and competitive position data included in this prospectus
is reliable and based on reasonable assumptions, such data involve risks and uncertainties and are subject to change based on various
factors, including those discussed in the section titled "Risk Factors." These and other factors could cause results to differ
materially from those expressed in the estimates made by the independent parties or by us.
37
USE
OF PROCEEDS
We
estimate the net proceeds from this initial public offering of securities will be approximately $     , or $     if the underwriters exercise
their option to purchase additional units in full, assuming an initial public offering price of $     per share, the midpoint of the price
range set forth on the cover page of this prospectus, and after deducting the underwriting discounts and commissions and estimated offering
expenses payable by us.
Each
$1.00 increase (decrease) in the assumed initial public offering price of $     per share, the midpoint of the price range set forth on the
cover page of this prospectus, would increase (decrease) our net proceeds by approximately $     , assuming that the number of shares offered
by us, as set forth on the cover page of this prospectus, remains the same, and after deducting the underwriting discounts and commissions
and estimated offering expenses payable by us.
We
currently intend to use the net proceeds from this offering as follows:
●
Up
    to approximately $4,000,000 for the repayment of outstanding principal and interest accrued on Senior Convertible Promissory Notes,
    referred to as the "Notes";
●
approximately
    $      to $     to fund the sales and marketing, as well as research and development and field trial activities
    supporting ongoing commercialization of our products; and
●
the
    remainder for general corporate purposes, including working capital and operating expenses.
As
of the date of this prospectus, the outstanding aggregate principal amount of the Notes was approximately $3,960,364. The Notes bear
interest rate of 12% per annum and mature 12 months after the date of the issuance of the Notes, provided, however, that noteholders
have the right to call the Notes prior to maturity starting from the earlier of: (i) the closing date of this offering or (ii) June 15,
2022. The proceeds of this indebtedness will be used by us for our general corporate purposes.
We
may also use a portion of our net proceeds to acquire or invest in complementary products, technologies, or businesses; however, we currently
have no agreements or commitments to complete any such transactions.
We
believe, based on our current operating plan, that our current capital resources, along with the net proceeds from this offering, will
be sufficient for us to fund our operating expenses and capital expenditure requirements for at least the next twelve months. However,
our expected use of the net proceeds from this offering described above represents our intentions based upon our current plans and business
conditions. We cannot predict with certainty all of the particular uses for the net proceeds to be received upon the completion of this
offering or the amounts that we will actually spend on the uses set forth above. The amounts and timing of our actual expenditures will
depend on numerous factors, including the time and cost necessary to conduct our planned commercialization activities, the results of
our planned field trials and other factors described in the section titled "Risk Factors" in this prospectus, as well as
the amount of cash used in our operations and any unforeseen cash needs.
Therefore,
our actual expenditures may differ materially from the estimates described above. We may find it necessary or advisable to use the net
proceeds for other purposes, and we will have broad discretion over the allocation of the net proceeds from this offering.
We
intend to invest the net proceeds from this offering that are not used as described above in a variety of capital preservation investments,
including short-term, investment-grade, interest-bearing instruments and U.S. government securities.
DIVIDEND
POLICY
We
currently intend to retain all available funds and any future earnings to support our operations and finance the growth and development
of our business, and therefore do not intend to pay cash dividends on our common stock for the foreseeable future. Any future determination
related to our dividend policy will be made at the discretion of our board of directors and will depend on, among other factors, our
results of operations, financial condition, capital requirements, contractual restrictions, business prospects and other factors our
board of directors may deem relevant. Investors should not purchase our securities with the expectation of receiving cash dividends.
38
CAPITALIZATION
The
following table sets forth our capitalization as of June 30, 2022:
●
on an actual basis;
●
on a pro forma basis to reflect the sale of units by us in this offering at an initial price to the public of $    per unit, resulting in
net proceeds to us of $     after deducting (i) underwriter commissions and non-accountable expenses of $     and (ii) our estimated other offering
expenses of $     ; and
●
on a pro forma basis to reflect the sale of units by us in this offering, assuming the underwriters elect to exercise the over-allotment
option in full, at an initial price to the public of $     per unit, resulting in net proceeds to us of $    after deducting (i) underwriter
commissions and non-accountable expenses of $    and (ii) our estimated other offering expenses of $     . The table below assumes no exercise
by the underwriters of their option to purchase additional shares of common stock and/or warrants from us and no exercise of the warrants
included in the units.
The
pro forma information below is illustrative only and our capitalization following the completion of this offering is subject to adjustment
based on the initial public offering price of our units and other terms of this offering determined at pricing and excludes up to approximately
$4,000,000 for the repayment of outstanding principal and interest accrued on Senior Convertible Promissory Notes, which were issued
by us in September and October, 2021. You should read this table together with our financial statements and the related notes included
elsewhere in this prospectus and the information under "Management's Discussion and Analysis of Financial Condition and Results
of Operations."
In
the table below, amounts are rounded to nearest thousands, except share and per share amounts.
As
    of June 30, 2022 (unaudited)
Actual
Post-Offering
Pro
                                            Forma
without
                                            Over-
Allotment
                                            Option
Post-Offering
Pro
                                            Forma
with
                                            Over-
Allotment
                                            Option
Cash
$
729,000
$
$
Convertible
    notes payable, including interest accrued
3,906,000
Shareholders' equity (deficit):
Preferred stock, $0.0001 par value per share;
    1,000,000 shares authorized, 1 share issued and outstanding, actual;
-
Common stock, $0.0001 par value per share:
    100,000,000 shares authorized, 33,736,399 shares issued and outstanding, actual (35,003,854 and 35,395,158 pro forma);
3,000
Additional paid in capital
25,076,000
Accumulated deficit
(26,907,000
)
)
)
Total shareholders'
    equity (deficit)
(1,828,000
)
Total liabilities and
    shareholders' equity
$
2,814,000
$
$
The
table above excludes the following shares:
●
4,540,000
shares of common stock reserved for issuance
    upon the exercise of outstanding options at a weighted average exercise price of $2.00 per share, as well as any future increases
    in the number of shares of our common stock reserved for issuance under our equity incentive plan;
●
2,279,375
    shares of common stock reserved for issuance upon the exercise of outstanding warrants at a weighted average exercise price of $3.00
    per share;
●
up
    to        shares of common stock issuable upon conversion of $3,906,053 of Senior Convertible Promissory Notes (the "Notes")
    and interest accrued, based on an assumed initial public offering price of $     per unit, the midpoint of the price range set forth
    on the cover page of this prospectus;
●
3,591,235
shares of common stock reserved for issuance upon the exercise of outstanding warrants issued with our Notes. Each Warrant is
    exercisable at a price equal to 115% of the Company's initial public offering price;
●
200,000
    restricted stock units issued to our employees.
●
1
    share of common stock reserved for issuance upon the conversion of 1 share of Series A preferred stock.
●
up
    to       shares of common stock issuable upon exercise of warrants included in the units being offered in this offering; and
●
up
    to      shares of common stock issuable upon exercise of the representative's warrants issued in connection with this offering.
Each
$1.00 increase (decrease) in the assumed initial public offering price of $      per share, the midpoint of the price range set forth on the
cover page of this prospectus, would increase (decrease) our net proceeds by approximately $ assuming that the number of shares offered
by us, as set forth on the cover page of this prospectus, remains the same, and after deducting the underwriting discounts and commissions
and estimated offering expenses payable by us.
DILUTION
If
you invest in our securities in this offering, your ownership interest will be immediately diluted to the extent of the difference between
the initial public offering price per share of our common stock included in the unit offered by this prospectus and the pro forma as
adjusted net tangible book value per share of our common stock immediately after this offering.
As
of June 30, 2022, our historical net tangible book value was $(1,828,000
)
,
or $(0.05) per share of our common stock. Net tangible book value per share represents our total tangible assets (total assets less intangible
assets) less total liabilities and convertible preferred stock, divided by the total number of our outstanding shares of common stock
as of June 30, 2022.
After
giving effect to the sale and issuance of units in this offering, at the assumed initial public offering price of $       per unit, the
midpoint of the price range set forth on the cover page of this prospectus, after deducting underwriting discounts and commissions and
estimated offering expenses payable by us, our as adjusted net tangible book value as of June 30, 2022, would have been approximately
$      , or $      per share of our common stock. This represents an immediate increase in pro forma net tangible book value of approximately $     
per share to our existing stockholders and an immediate dilution of $     per share to new investors.
39
Dilution
per share to investors participating in this offering is determined by subtracting as adjusted net tangible book value per share after
this offering from the initial public offering price per unit paid by investors participating in this offering. The following table illustrates
this dilution (without giving effect to any exercise by the underwriters of their option to purchase additional shares):
Assumed initial public offering price per unit
$
Historical net tangible book value per share as of
    June 30, 2022
$
(0.05
)
Increase in net tangible
    book value per share attributable to investors participating in this offering
$
As adjusted net tangible
    book value per share immediately after this offering
$
Dilution in net tangible
    book value per share to new investors participating in this offering
$
The
dilution information discussed above is illustrative and will change based on the actual initial public offering price and other terms
of this offering determined at pricing. If the underwriters exercise their option to purchase additional units in full, our as adjusted
net tangible book value per share after this offering would be approximately $ per share, and the dilution in as adjusted net tangible
book value per share to new investors participating in this offering would be $ per share.
A
$1.00 increase (decrease) in the assumed initial public offering price of $ per unit, the midpoint of the price range set forth on the
cover page of this prospectus, would increase (decrease) the as adjusted net tangible book value by $ per share and the dilution to investors
participating in this offering by $ per share, assuming the number of shares offered by us, as set forth on the cover page of this prospectus,
remains the same and after deducting underwriting discounts and commissions and estimated expenses payable by us.
The
following table summarizes, on an as adjusted basis as of June 30, 2022, the differences between the number of shares of common stock
included in the units purchased from us, the total cash consideration and the average price per share paid to us by existing stockholders
and by new investors purchasing units in this offering at the assumed initial public offering price of $ per unit, the midpoint of the
price range set forth on the cover of this prospectus before deducting underwriting discounts and commissions and estimated offering
expenses payable by us. As the table shows, new investors purchasing units in this offering will pay an average price per share substantially
higher than our existing investors paid.
Shares
    Purchase
Total
    Consideration
Average
    Price Per
Number
Percent
Amount
Percent
Share
Existing stockholders
%
$
%
$
New investors participating
    in this offering, excluding underwriting discounts and commissions and estimated offering expenses payable by us
%
%
$
Total
%
$
%
$
The
number of shares of common stock to be outstanding after this offering is based on 33,736,399 shares of common stock outstanding at June
30, 2022, and excludes the following:
●
4,540,000
shares of common stock reserved for issuance
    upon the exercise of outstanding options at a weighted average exercise price of $2.00 per share, as well as any future increases
    in the number of shares of our common stock reserved for issuance under our equity incentive plan;
●
2,279,375
    shares of common stock reserved for issuance upon the exercise of outstanding warrants at a weighted average exercise price of $3.00
    per share;
●
up
    to shares of common stock issuable upon conversion of $3,906,053 of Senior Convertible Promissory Notes (the "Notes")
    and interest accrued, based on an assumed initial public offering price of $ per unit, the midpoint of the price range set forth
    on the cover page of this prospectus;
●
3,591,235
shares of common stock reserved for issuance upon the exercise of outstanding warrants issued with our Notes. Each Warrant is
    exercisable at a price equal to 115% of the Company's initial public offering price;
●
200,000
    restricted stock units issued to our employees.
●
1
    share of common stock reserved for issuance upon the conversion of 1 share of Series A preferred stock.
●
up
    to      shares of common stock issuable upon exercise of warrants included in the units being offered in this offering; and
●
up
    to     shares of common stock issuable upon exercise of the representative's warrants issued in connection with this offering.
To
the extent that outstanding options or warrants are exercised, or shares are issued under our equity incentive plans or upon the conversion
of our convertible notes, you will experience further dilution. In addition, we may choose to raise additional capital due to market
conditions or strategic
considerations
even
if we believe we have sufficient funds for our current or future operating plans. To the extent that additional capital is raised through
the sale of equity or convertible debt securities, the issuance of these securities may result in further dilution to our stockholders.
40
MANAGEMENT'S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION
The
following discussion and analysis of our financial condition and results of operations should be read together with our financial statements,
the related notes, and the other financial information included elsewhere in this prospectus. This discussion contains forward-looking
statements that involve risks and uncertainties. Our actual business, financial condition and results of operations could differ materially
from those anticipated in these forward-looking statements as a result of various factors, including those discussed below and elsewhere
in this prospectus, particularly under "Risk Factors." See also "Special Note Regarding Forward-Looking Statements."
Our historical results are not necessarily indicative of the results that may be expected for any period in the future.
Overview
Opti-Harvest
is an agricultural innovation company with products backed by a portfolio of patented and patent pending technologies focused on solving
several critical challenges faced by agribusinesses: maximizing crop yield, accelerating crop growth, optimizing land and water resources,
reducing labor costs and mitigating negative environmental impacts.
Our
advanced agriculture technology (Opti-Filter™) and precision farming (Opti-View™) platforms, enable commercial growers and
home gardeners to harness, optimize and better utilize sunlight, the planet's most fundamental and renewable natural resource.
Our
sustainable agricultural technology platform is powered by the sun. It maximizes a free and renewable resource with no need for additional
chemicals or fertilizers.
From
inception in 2016 through the present date, we have made substantial investments in building our intellectual property portfolio, developing,
and optimizing our product designs, and conducting over 65 multi-year field trials   to test and measure the effectiveness
of our products. Based on our field trials and the positive feedback from our partners, we began commercializing our Opti-Gro and
ChromaGro products in the first half of 2021, our Opti-Shield and Opti-Panel products late in the first half of 2022, and we plan to
commercialize our Opti-Skylight products in the first half of 2023. Our Opti-View product is currently in our research and development
phase with an anticipated commercial offering in 2023. We remain focused on developing new products and enhancing existing products.
With
the recent commercialization of several of our products, we are making significant investments in sales
and marketing, tooling to manufacture our products, and infrastructure investments to meet planned customer demand. We will also incur
additional expenses generally associated with being a publicly traded company, including the cost of regulatory compliance, director
fees, insurances, investor relations, upgraded systems, and enhanced internal controls.
Recent
Trends - Market Conditions
During
the period ended June 30, 2022, the COVID-19 pandemic continued to impact our operating results and the Company anticipates a residual
effect for the balance of the year. In addition, the pandemic could cause reduced demand for our products if, for example, the pandemic
results in a recessionary economic environment which negatively effects the consumers who purchase our products. Based on the recent
increase in demand for our products, we believe that over the long term, there will continue to be strong demand for our products.
Although
the U.S. economy continued to grow during the first half of 2022, the continuing impact of the COVID-19 pandemic, higher inflation,
the actions by the Federal Reserve to address inflation, and rising energy prices create uncertainty about the future economic environment
which will continue to evolve and may impact our business in future periods. We have experienced supply chain challenges, including increased
lead times, as well as inflation of raw materials, logistics and labor costs due to availability constraints and high demand. Although
we regularly monitor companies in our supply chain, and use alternative suppliers when necessary and available, supply chain constraints
could cause a disruption in our ability to obtain raw materials required to manufacture our products and adversely affect our operations.
We expect the inflationary trends and supply chain pressures to continue throughout the remainder of 2022.
Through
June 30, 2022, the Company experienced elevated freight costs as a result of a higher transportation market as the capacity in the freight
market has not kept up with demand. The Company believes these challenges will continue throughout the year. In addition, the Company
experienced increases in the pricing of its raw materials and delays in procuring raw materials. The disruption caused by labor shortages, significant raw material cost inflation, logistics issues
and increased freight costs, and ongoing port congestion, resulted in suppressed margins. The Company anticipates a continued
impact throughout 2022.
Our
ability to operate without significant incremental negative operational impact from the COVID-19 pandemic will in part depend on our
ability to protect our employees and protect our supply chain. The Company has endeavored to follow the recommended actions of government
and health authorities to protect our employees. Since the inception of the COVID-19 pandemic and through June 30, 2022, we maintained
the consistency of our operations during the onset of the COVID-19 pandemic. We will continue to innovate in managing our business, coordinating
with our employees and suppliers to do our part in the infection prevention and remain flexible in responding to our customers and suppliers.
However, the uncertainty resulting from the pandemic could result in an unforeseen disruption to our workforce and supply chain (for
example an inability of a key supplier or transportation supplier to source and transport materials) that could negatively impact our
operations.
We
have not observed any material impairments of our assets or a significant change in the fair value of our assets due to the COVID-19
pandemic.
41
Results
of Operations for the Year Ended December 31, 2021 Compared to the Year Ended December 31, 2020
Our
sales, operating expenses, and net loss from operations for the year ended December 31, 2021 as compared to the year ended December 31,
2020 were as follows (amounts are rounded to nearest thousands):
For the Year
    Ended
Percentage
December
    31,
Change
2021
2020
Change
Inc.
    (Dec.)
Net Sales
$
40,000
$
20,000
$
20,000
100
%
Cost of goods sold
102,000
115,000
(13,000
)
(11
)%
Gross loss
(62,000
)
(95,000
)
33,000
(35
)%
Operating expenses
Selling, general and administrative expenses
6,591,000
1,467,000
5,124,000
349
%
Research and development expense
2,621,000
1,680,000
941,000
56
%
Amortization of intangible
    assets
-
42,000
(42,000
)
(100
)%
Total operating expenses
9,212,000
3,189,000
6,023,000
189
%
Loss from operations
(9,274,000
)
(3,284,000
)
(5,990,000
)
182
%
Interest expense
(817,000
)
-
(817,000
)
100
%
Gain on forgiveness
    of SBA PPP loan
38,000
-
38,000
100
%
Net loss
$
(10,053,000
)
$
(3,284,000
)
$
(6,769,000
)
206
%
Net
Sales
We
began offering our first two products, ChromaGro and Opti-Gro, for sale in 2021, leading to $40,000 of net sales during the year ended
December 31, 2021. Net sales during the year ended December 31, 2020 of $20,000 were from the sale of significantly discounted products
originally manufactured for our research and development activities.
Cost
of Goods Sold
Cost
of goods sold represent the cost to manufacture our products sold. Cost of goods sold decreased by $13,000 to $102,000 for the year ended
December 31, 2021, compared to $115,000 for the year ended December 31, 2020. During the year ended December 31, 2021, we recorded a
$60,000 reserve for slow moving and potentially obsolete product to cost of goods sold. No similar reserve for slow moving and obsolete
products were recorded during the year ended December 31, 2020.
Operating
Expenses
Operating
expenses include selling, general and administrative expenses, research and development costs, and amortization of intangible assets.
Our
selling, general and administrative expenses increased during the year ended December 31, 2021, as we continued transitioning our sole
focus on research and development activities to include the commercializing of our products in 2021. We hired employees and retained
consultants and advisors to provide sales and marketing expertise and invested in required infrastructure to meet anticipated product
demand. To that end, our selling, general and administrative expenses increased approximately $5.1 million to $6.6 million during the
year ended December 31, 2021, compared to approximately $1.5 million during the year ended December 31, 2020. We incurred stock-based
compensation expense of $3.5 million, representing $1.5 million in stock option expense related to the vesting of employee stock options,
and $2.0 million on the issuances of shares of the Company's common stock and warrants for services received from advisors and
consultants during the year ended December 31, 2021. Excluding stock-based compensation, our selling, general and administrative expenses
increased $1.7 million to $3.1 million compared to $1.4 million during the year ended December 31, 2020. The increase of $1.7 million
was from increased consulting and advisor fees of $531,000, increased salaries and benefit expense of $397,000, increased marketing related
expenses of $307,000 primarily related to the introduction of our ChromoGro product to the home garden market, increased legal and professional
fees of $225,000 primarily related to our intellectual property, increased rent expense of $35,000, and increased depreciation expense
of $33,000. Our remaining increase of $251,000 was across our remaining expense accounts to support our operations.
Research
and development costs include advisors, consultants, software licensing, product design and development, data monitoring and collection,
field trial installations, and travel related expenses. Research and development expenses increased approximately $941,000 to $2.6 million
during the year ended December 31, 2021, compared to approximately $1.7 million for the year ended December 31, 2020. The increase in
research and development costs were primarily due to new product design and development cost and our field trial activity, as compared
to the prior year period.
Amortization
of intangible assets expense was $42,000 during the year ended December 31, 2020. We had no comparable expense during the same period
of the current year. The decrease in intangible amortization expense was due to our intangible assets becoming fully amortized in early
calendar year 2020.
42
Loss
from Operations
Loss
from operations increased to approximately $9.3 million for the year ended December 31, 2021, compared to $3.3 million for the year ended
December 31, 2020. The increase in loss from operations was due to our increase in net sales, decreased cost of sales, offset
by increased stock based compensation costs, and increased operating expenses as discussed above.
Interest
Expense
Interest
expense was $817,000 for the year ended December 31, 2021, representing $713,000 amortization of our debt discount, and $104,000 of interest
on our loans. We had no similar expense during the year ended December 31, 2020.
Gain
on Forgiveness of Debt
Gain
on forgiveness of debt was $38,000 for the year ended December 31, 2021, representing a $38,000 gain on extinguishment of debt related
to our SBA PPP loan. We had no similar expense during the year ended December 31, 2020.
Net
Loss
Net
loss increased $6.8 million to $10.1 million during the year ended December 31, 2021, compared to $3.3 million for the year ended December
31, 2020. The increase in net loss was due to the increase in net sales, decrease in cost of goods sold, gain on forgiveness of debt,
offset by increased stock based compensation costs, and operating and interest expense as discussed above.
Results
of Operations for the Six Months Ended June 30, 2022 Compared to the Six Months Ended June 30, 2021
Our
sales, operating expenses, and net loss from operations for the six months ended June 30, 2022 as compared to the six months ended June
30, 2021 were as follows (amounts are rounded to nearest thousands):
For the Six
    Months Ended
Percentage
June
    30,
Change
2022
2021
Change
Inc.
    (Dec.)
Net Sales
$
20,000
$
13,000
$
7,000
54
%
Cost of goods sold
26,000
50,000
(24,000
)
-48
%
Gross loss
(6,000
)
(37,000
)
31,000
-84
%
Operating expenses
Selling, general and administrative expenses
4,120,000
3,536,000
584,000
17
%
Research and development
    expense
1,257,000
1,191,000
66,000
6
%
Total operating expenses
5,377,000
4,727,000
650,000
14
%
Loss from operations
(5,383,000
)
(4,764,000
)
(619,000
)
13
%
Gain on forgiveness of SBA PPP loan
-
38,000
38,000
-100
%
Financing costs
(611,000
)
(611,000
)
100
%
Interest expense
(1,723,000
)
(3,000
)
(1,720,000
)
57,333
%
Net loss
$
(7,717,000
)
$
(4,729,000
)
$
(2,988,000
)
63
%
Net
Sales
We began commercializing
our Opti-Shield and Opti-Panel products late in the first half of 2022, and our ChromaGro and Opti-Gro products in the first half of
2021, leading to $20,000 and $13,000 of net sales during the six months ended June 30, 2022 and 2021, respectively.
Cost
of Goods Sold
Cost
of goods sold represent the cost to manufacture our products sold. Cost of goods was $26,000 and $50,000 for the six months ended June
30, 2022 and 2021, respectively.
Operating
Expenses
Operating
expenses include selling, general and administrative expenses, and research and development costs.
43
Our
selling, general and administrative expenses increased during the six months ended June 30, 2022, as we continued transitioning our sole
focus on research and development activities to include the commercializing of our products in 2022. We hired employees and retained
consultants and advisors to provide sales and marketing expertise and invested in required infrastructure to meet anticipated product
demand. To that end, our selling, general and administrative expenses increased approximately $584,000 to $4.1 million during the six
months ended June 30, 2022, compared to $3.5 million during the six months ended June 30, 2021. The net increase of $584,000 in
our selling, general and administrative expenses was from increased stock based compensation expense of $472,000, which include shares
issued for services, increased salaries and benefit expense of $399,000, increased depreciation expense of $91,000, offset by decreased
consulting and professional fees of $131,000, and decreased advertising expense $169,000. The remaining decrease of $78,000 during
the six months ended June 30, 2022, was across our remaining expense accounts to support our operations.
Research
and development costs include advisors, consultants, software licensing, product design and development, data monitoring and collection,
field trial installations, and travel related expenses. Research and development expenses increased approximately $66,000 to $1.3 million
during the six months ended June 30, 2022, compared to $1.2 million for the six months ended June 30, 2021. The increase in research
and development costs were primarily due to increased salaries and benefit expense, as compared to the prior year period.
Loss
from Operations
Loss
from operations increased to approximately $5.4 million for the six months ended June 30, 2022, compared to $4.8 million for the six
months ended June 30, 2021. The increase in loss from operations was due to our increase in net sales,
decreased cost of sales, offset by increased stock based compensation costs, and increased operating expenses as discussed above.
Gain
on Forgiveness of Debt
Gain
on forgiveness of debt was $38,000 during the six months ended June 30, 2021, representing a $38,000 gain on extinguishment of
debt related to our SBA PPP loan. We had no similar expense during the six months ended June 30, 2022.
Financing
Costs
Financing
costs was $611,000 during the six months ended June 30, 2022, representing the fair value of common shares issued to extend the call
date provision in our senior secured convertible notes. We had no similar expense during the six months ended June 30, 2021.
Interest
Expense
Interest
expense was approximately $1.7 million for the six months ended June 30, 2022, representing approximately $1.5 million of debt discount
amortization, which did not occur in the prior year period, and $214,000 of interest on our loans. Interest
expense was $3,000 during the six months ended June 30, 2021. The increase in interest on loans was due to the increase in debt balances
compared to the prior year period.
Net
Loss
Net
loss increased $3.0 million to $7.7 million during the six months ended June 30, 2022, compared to $4.7 million for the six months ended
June 30, 2021. The increase in net loss was due to increased stock based compensation costs, and operating and interest
expense as discussed above.
Liquidity
and Capital Resources
Since
inception, our principal sources of liquidity have been cash provided by financing, including through the private placement of equity
securities, and loans. Our principal uses of cash have been primarily for labor and outside services, development of new products and
improvement of existing products, expansion of marketing efforts to promote our products and brand, and capital expenditures. We anticipate
that additional expenditures will be necessary to develop and expand our assets before sufficient and consistent positive operating cash
flows will be achieved, including sufficient cash flows to service existing liabilities and related interest.
With
the recent commercialization of our products, we are making significant investments in sales and marketing, tooling to manufacture our
products, and infrastructure investments to meet planned customer demand. We will also incur additional expenses generally associated
with being a publicly traded company, including the cost of financial statement audits and reviews, compliance, director fees, insurance
policies, investor relations, upgraded systems, and enhanced internal controls.
We
believe, based on our current operating plan, that our current capital resources, along with the net proceeds from this offering, will
be sufficient for us to fund our operating expenses and capital expenditure requirements for at least the next twelve months. However,
our expected use of the net proceeds from this offering described above represents our intentions based upon our current plans and business
conditions. We cannot predict with certainty all of the particular uses for the net proceeds to be received upon the completion of this
offering or the amounts that we will actually spend on the uses set forth above. The amounts and timing of our actual expenditures will
depend on numerous factors, including the time and cost necessary to conduct our planned commercialization activities, the results of
our planned field trials and other factors described in the section titled "Risk Factors" in this prospectus, as well as
the amount of cash used in our operations and any unforeseen cash needs.
44
As
further presented in our financial statements and related notes included in this prospectus, during the six months ended June 30, 2022,
we incurred a net loss of $7.7 million, used cash in operations of $2.5 million, and at June 30, 2022, had a stockholders' deficit
of approximately $1.8 million, and a negative working capital of approximately $3.3 million. In addition, during the fiscal
year ended December 31, 2021, we incurred a net loss of $10.1 million, and used cash in operations of $5.3 million, and at December 31,
2021, we had a stockholders' equity of approximately $1.2 million, and a negative working capital $439,000.
These factors raised substantial doubt about our ability to continue as a going concern, as noted by our independent registered public
accounting firm in its report on our December 31, 2021 financial statements. We believe, based on our current operating plan, that our
current capital resources, along with the net proceeds from this offering, will be sufficient for us to fund our operating expenses and
capital expenditure requirements for at least the next twelve months. Additional funds may be needed in order to continue production
and operations, maintain profitability and to achieve our objectives.
Our
ability to continue as a going concern is dependent upon our ability to raise additional capital and to maintain revenues and generate
profit from operations. Subsequent to June 30, 2022, we raised $1.2 million from a private placement transaction, and $40,000 for
the exercise of warrants. During the six months ended June 30, 2022, we raised approximately $1.5 million from the exercise of warrants,
and we received proceeds of $195,000 from a private placement transaction. During the fiscal year ended December 31, 2021, we received
proceeds of $5.2 million from a private placement transaction and $3.0 million from the issuance of convertible debt. At June 30, 2022,
we had cash on hand of approximately $729,000, and may not be able to generate sufficient funds from our future operations to meet our
cash flow requirements.
At
June 30, 2022, we had a negative working capital of approximately $3.3 million compared to a negative working capital deficit of $439,000
at December 31, 2021. The decrease in working capital was primarily to fund our net loss during the six months ended June 30, 2022. At
December 31, 2021, we had a working capital deficit of approximately $439,000 compared to a negative working capital of $321,000 at December
31, 2020. The increase in negative working capital was primarily to fund our net loss.
Loan
Payable
On
November 20, 2020, we financed the purchase of a vehicle for $40,000. The loan term is for 59 months, annual interest rate of 4.49%,
with monthly principal and interest payments of $745, and secured by the purchased vehicle.
On
January 20, 2022, the Company financed the purchase of a vehicle for $49,000. The loan term is for 71 months, annual interest rate of
15.54%, with monthly principal and interest payments of $1,066, and secured by the purchased vehicle.
Senior
Convertible Notes Payable and Warrants
Between
September 23, 2021 and October 15, 2021 we offered and sold approximately $3,591,000 of Senior Convertible Promissory Notes (the "Notes")
and warrants (the "Warrants") to purchase that number of shares of common stock into which the notes are convertible. Each
Warrant is exercisable at a price (the "Exercise Price") equal to 115% of our initial public offering price. Each Note is
convertible, in the sole discretion of the holder of the Note, into shares of our common stock at a purchase price equal to 80% of the
offering price of our initial public offering price.
Each
Note, issued at an original issue discount of 15%, carries interest at a rate of 12% per annum, and
any
interest payable under the Note shall automatically accrue and be capitalized to the principal amount of the Note, and shall thereafter
be deemed to be a part of the principal amount of the Note, unless such interest is paid in cash on or prior to the maturity date of
the Note.
45
The
Notes mature 12 months from the date of the Notes, provided, however, that noteholders have the right to call the Notes prior to maturity
starting from the
earlier of (i)
the
consummation of our first underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933,
as amended, covering the offer and sale by us of not less than $10,000,000 of our equity securities, as a result of or following which
our
common stock shall be listed on the Nasdaq Stock Market, and (ii) June 15, 2022. Additionally, each Warrant
contains a cashless exercise provision, which is effective if the shares underlying the Warrant are not covered by a registration statement
6 months from the date of issuance of the Warrant.
The
shares of common stock underlying the Notes and the Warrants are subject to registration rights, and such shares must be registered within
90 days after the effectiveness of this offering. If we fail to register the shares within 90 days, we agreed to pay a penalty of a cash
payment equal to 0.02857% of the principal amount and interest due and owing under any Note held by the Holder or that number shares
of common stock of the Company equal 1% of the shares of common stock underlying any Note and Warrant held by the Holder, in total amount
per week paid in, whichever is greater.
Each
Note and Warrant holder has (i) the right of first refusal to purchase up to 20% of its pro rata share of new securities the that company
offers, which right expires upon the consummation of an underwritten initial public offering by us or a change in control of us, and
(ii) the right to be repaid any and all principal and interest due by us from any and all proceeds resulting from any sale of assets
and any sale and issuance of debt or equity securities.
Lease
Obligations
Our
principal executive offices are located at 1801 Century Park East, Suite 520, Los Angeles, California 90067. We sublease this location
on a month-to-month agreement and our rent expense is $5,000 per month.
Earnout
and Royalty Obligations
On
April 7, 2017, we and DisperSolar LLC (the "Seller"), a California limited liability company, entered into a Patent Purchase
Agreement (the "Agreement") pursuant to which we acquired certain patents (intellectual property) of the Seller (see Note
7 of the accompanying financial statements). The Seller developed the patents for harvesting, transmission, spectral modification and
delivery of sunlight to shaded areas of plants.
Under
the Agreement, the Company agreed to pay the following for the acquisition of Seller's intellectual property:
(i)
Initial
    Payment: $150,000 deposited into the Seller Account within 10 days of the Effective Date (the "Initial Payment").
(ii)
Initial
    Milestone Payments: Additional payments in the aggregate combined amount up to $350,000 upon reaching defined milestones (the "Milestone
    Payments"), of which $50,000 was paid in 2017, $200,000 in 2018, and $100,000 in 2021.
(iii)
Earnout
    Payments: $800,000 paid on the on-going basis at a rate of 50% of gross margin and/or License Revenue from the date of the first
    commercial sale of a Covered Product or the first receipt by Purchaser of License Revenue, until the aggregate combined Gross Margin
    and License Revenue reach $1,600,000.
On
December 6, 2018, we and Seller amended the Agreement by increasing the Milestone Payments from $350,000 to $450,000. The $100,000 increase
in Milestone Payments was paid in 2019.
As
of June 30, 2022, we had an $800,000 earnout obligation payable on the on-going basis at a rate of 50% of gross margin and/or license
revenue from the date of the first commercial sale of a covered product or the first receipt by purchaser of license revenue, until the
aggregate combined gross margin and license revenue reach $1.6 million.
We
will pay to Seller royalties as follows:
(i)
Following
    the recognition by us of the first $1.6 million in aggregate combined gross margin and license revenue, and until we pay to Seller
    an aggregate amount in royalties of $30 million, we shall pay to Seller royalties on sales of covered products at a rate of 8% of
    gross margin.
(ii)
Once
    we paid to Seller an aggregate amount in royalties of $30 million, we shall pay to Seller royalties on sales of covered products
    at a rate of 4.75% of gross margin until the earlier of (x) such time as covered products are not covered by any claims of any assigned
    patent, and (y) the date of the consummation of a strategic transaction.
During
the six months ended June 30, 2022, and for the years ended December 31, 2021 and 2020, and as of the date of this prospectus, the Company
recorded no earnout or royalty payment obligations as no gross margin was realized.
We
will pay to Seller 7.6% of all License Consideration received by us until the date of the consummation of a Strategic Transaction. "Strategic
Transaction" means a transaction or a series of related transactions that results in an acquisition of the Company by a third party,
including by way of merger, purchase of capital stock or purchase of assets or change of control or otherwise.
Strategic
Transaction Consideration. "Strategic Transaction Consideration" means any cash consideration and the fair market value of
any non-cash consideration paid to we by any acquirer as consideration for the Strategic Transaction, less the costs and expenses incurred
by Purchaser for the purpose of consummating the Strategic Transaction. The Company will pay to Seller a percentage of all License Consideration
received by Purchaser as follows:
(i)
3.8%
    of the first $50 million of the Strategic Transaction Consideration;
(ii)
5.7%
    of the next $100 million of the Strategic Transaction Consideration (i.e. over $50 million and up to $150 million);
(iii)
7.6%
    of Strategic Transaction Consideration over $150 million.
Both
our Chief Science Officer, Yosepha Shahak Ravid, and our Chief Technology Officer, Nicholas Booth, we employed by us on July 1, 2021,
and are control persons of DisperSolar and named inventors of the acquired patents we acquired from DisperSolar under our Patent Purchase
Agreement with DisperSolar.
On
July 5, 2019, we and Nicholas Booth ("Mr. Booth") entered into a royalty agreement.
46
The
Company will pay Mr. Booth a percentage of all license consideration received by us as follows:
(0)
Once
    we paid to DisperSolar an aggregate amount in royalties of $30 million under the Agreement, we will pay to Mr. Booth a percentage
    of all royalties on sales of covered products at a rate of 0.25% of gross margin until the earlier of (x) such time as covered products
    are not covered by any claims of any assigned patent, and (y) the date of the consummation of a strategic transaction.
(b)
Opti-Harvest will pay to Mr. Booth a percentage of all license consideration received by purchaser on the same terms as payable by us
to DisperSolar under the Agreement, except that the percentages of license consideration due to Mr. Booth shall be as follows:
(a)
0.4%
    of all license consideration received by us until the date of consummation of a strategic transaction;
(b)
0.2%
    of the first $50 million of the strategic transaction consideration;
(c)
0.3%
    of the next $100 million of the strategic transaction consideration (i.e. over $50 million and up to $150 million); and
(d)
0.4%
    of strategic transaction consideration over $150 million.
During
the six months ended June 30, 2022, and for the years ended December 31, 2021 and 2020, and as of the date of this prospectus, the Company
recorded no earnout or royalty payment obligations as no gross margin was realized.
Off-Balance
Sheet Arrangements
We
have not entered into any off-balance sheet arrangements.
Cash
Flows
The
following table summarizes our cash flows for the periods indicated (amounts are rounded to nearest thousands):
Six
    Months Ended June 30,
Years
    Ended December 31,
2022
2021
2021
2020
(unaudited)
(unaudited)
Net cash provided by (used
    in):
Operating activities
$
(2,534,000
)
$
(2,858,000
)
$
(5,303,000
)
$
(2,504,000
)
Investing activities
(80,000
)
(16,000
)
(1,371,000
)
(390,000
)
Financing activities
1,628,000
4,690,000
7,986,000
2,619,000
Net increase (decrease)
    in cash
$
(986,000
)
$
1,816,000
$
1,312,000
$
(275,000
)
Net
cash used in operating activities for the six months ended June 30, 2022 totaled $2.5 million, compared to net cash used in operating
activities for the six months ended June 30, 2021 of $2.9 million. The decrease in net cash used in operations for the six months ended
June 30, 2022 was primarily to fund our increase in net loss, offset primarily by $1.5 million amortization of debt discount, $611,000
of financing costs, and $396,000 of increased stock based compensation. Net cash used in operating activities for the year ended December
31, 2021 totaled $5.3 million, compared to net cash used in operating activities for the year ended December 31, 2020 of $2.5 million.
The increase in net cash used in operations for the year ended December 31, 2021 was primarily to fund our net loss, offset by $713,000
amortization of debt discount and $1.7 million of increased stock based.
Net
cash used in investing activities was approximately $80,000 for the six months ended June 30, 2022, compared to $16,000 net cash used
in investing activities for the six months ended June 30, 2021, and was for purchases of property and equipment. Net cash used in investing
activities was approximately $1.4 million for the year ended December 31, 2021, compared to $390,000 for the year ended December 31,
2020, and was for the purchase of property and equipment.
47
Net
cash provided by financing activities for the six months ended June 30, 2022 was approximately $1.6 million, which included proceeds
of $1.5 million on the exercise of warrants, proceeds of $195,000 received in the private placement of common stock offset by deferred
offering costs of 42,000 and repayments of $6,000 of a loan payable. Net cash provided by financing activities for the six months ended
June 30, 2021 was $4.7 million, which included proceeds of $4.8 million received in the private placement of common stock, offset by
a $100,000 payment of our patent purchase obligation and repayments of $4,000 of a loan payable. Net cash provided by financing activities
for the year ended December 31, 2021 was $8.0 million, and included proceeds of $5.2 million received in the private placement of common
stock, proceeds of $3.0 million on our issuing convertible notes, offset by deferred offering costs of $186,000, a $100,000 payment of
our patent purchase obligation, and repayments of $7,000 of a loan payable. Net cash provided by financing activities for the year ended
December 31, 2020 was $2.6 million, and included proceeds of $2.5 million received in the private placement of common stock, repayment
of advances to related parties of $68,000, and proceeds of $38,000 from a SBA PPP note payable.
Critical
Accounting Policies
This
"Management's Discussion and Analysis of Financial Condition and Results of Operations" section is based upon our financial
statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S.
GAAP"). The preparation of our financial statements requires that we make estimates and judgments that affect the reported amounts
of assets, liabilities, net sales and expenses and related disclosures. On an ongoing basis, we evaluate our estimates, including, but
not limited to, those related to inventories, income taxes, accounts receivable allowance, fair value derivatives, and reserve for warranty
claims. We base our estimates on historical experience, performance metrics and on various other assumptions that we believe to be reasonable
under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities
that are not readily apparent from other sources. Actual results will differ from these estimates under different assumptions or conditions.
We apply the following critical accounting policies in the preparation of our financial statements:
Use
of Estimates
The
preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date
of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ
from those estimates. Those estimates and assumptions include impairment testing of recorded long-term tangible and intangible assets,
the valuation allowance for deferred tax assets, accruals for potential liabilities, assumptions made in valuing stock instruments issued
for services, and assumptions used in the determination of our liquidity.
Revenue
Recognition
We
recognize revenue in accordance with Accounting Standards Codification (ASC) 606,
Revenue from Contracts with Customers
("ASC
606"). The underlying principle of ASC 606 is to recognize revenue to depict the transfer of goods or services to customers at
the amount expected to be collected. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the
terms of contract(s), which include (1) identifying the contract or agreement with a customer, (2) identifying our performance obligations
in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance
obligations, and (5) recognizing revenue as each performance obligation is satisfied.
We
do not have any significant contracts with customers requiring performance beyond delivery, and contracts with customers contain no incentives
or discounts that could cause revenue to be allocated or adjusted over time. Shipping and handling activities are performed before the
customer obtains control of the goods and therefore represent a fulfillment activity rather than a promised service to the customer.
Revenue and costs of sales are recognized when control of the products transfers to our customer, which generally occurs upon shipment
from our facilities. Our performance obligations are satisfied at that time.
Our
products are offered for sale as finished goods only, and there are no performance obligations required post-shipment for customers to
derive the expected value from them.
48
We
do not currently allow for returns, except for damaged product returns. Damaged product returns have historically been insignificant.
Because of this, the stand-alone nature of our products, and our assessment of performance obligations and transaction pricing for our
sales contracts, we do not currently maintain a contract asset or liability balance for obligations. We assess our contracts and the
reasonableness of our conclusions on a quarterly basis.
Stock
Compensation Expense
We
periodically issue stock options to employees and non-employees in non-capital raising transactions for services and for financing costs.
We account for such grants issued and vesting based on ASC 718,
Compensation-Stock Compensation
whereby the value of the award
is measured on the date of grant and recognized for employees as compensation expense on the straight-line basis over the vesting period.
We recognize the fair value of stock-based compensation within our Statements of Operations with classification depending on the nature
of the services rendered.
The
fair value of each option or warrant grant is estimated using the Black-Scholes option-pricing model. We are a private company and lack
company-specific historical and implied volatility information. Therefore, we estimate our expected stock volatility based on the historical
volatility of a publicly traded set of peer companies within the agriculture technology industry with characteristics similar to us.
The expected term of the stock options has been determined utilizing the "simplified" method for awards that qualify as "plain-vanilla"
options. The expected term of stock options granted to non-employees is equal to the contractual term of the option award. The risk-free
interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods
approximately equal to the expected term of the award. Expected dividend yield is zero, based on the fact that we have never paid cash
dividends and do not expect to pay any cash dividends in the foreseeable future.
We
estimate the fair value of common stock using an appropriate valuation methodology, in accordance with the framework of the American
Institute of Certified Public Accountants' Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued
as Compensation. Each valuation methodology includes estimates and assumptions that require our judgment. These estimates and assumptions
include a number of objective and subjective factors, including external market conditions, guideline public company information, the
prices at which we sold common stock to third parties in arms' length transactions, the rights and preferences of securities senior
to our common stock at the time, and the likelihood of achieving a liquidity event such as an initial public offering or sale. Significant
changes to the assumptions used in the valuations could result in different fair values of stock options at each valuation date, as applicable.
Recent
Accounting Pronouncements
See
Note 2 of Notes to Financial Statements contained within for management's discussion of recent accounting pronouncements.
49
BUSINESS
Overview
Opti-Harvest
is an agricultural innovation company with products backed by a portfolio of patented and patent pending technologies focused on solving
several critical challenges faced by agribusinesses: maximizing crop yield, accelerating crop growth, optimizing land and water resources,
reducing labor costs and mitigating negative environmental impacts.
Our
advanced agriculture technology (Opti-Filter™) and precision farming (Opti-View™) platforms enable commercial growers and
home gardeners to harness, optimize and better utilize sunlight, the planet's most fundamental and renewable natural resource.
The
Power of Sunlight
Agriculture
plays a vital role in society. Our survival is based on a sunlight-driven biochemical chain of reactions in which carbon dioxide from
the air and water from the soil are transformed into carbohydrates and oxygen –
Photosynthesis
. Light absorption through
photosynthesis is the cornerstone of all plant growth. It is the very foundation of our food supply as well as the oxygen we breathe.
Opti-Filter™
Plants
detect and respond to different aspects and qualities of light – light intensity, spectral composition, direction, scattering,
duration. Photo-selective filtration of sunlight has well documented effects on numerous crops in different climates. This chromatic
filtration can be used to promote flowering, improve fruit-set, regulate time-to maturation, fruit-size and color.
Our
Opti-Filter technology creates an optimized light environment that is detected by the crop canopy and conveyed throughout the canopy
as well as the root system as positive signals to thrive, resulting in crops that are more active, productive, efficient, and healthy.
Opti-Filter technology delivers the most beneficial parts of the light spectrum directly to plants at all stages of development.
By directing sunlight to where it is needed, filtering the light to favor the red end of the spectrum, and providing an optimized micro-climate
environment, Opti-Filter has been proven in over 65 field trials to accelerate growth and enhance productivity in an array of high-value
crops.
Opti-Filter
is a proprietary platform technology embedded in our family of products. In its various applications, Opti-Filter collects, spectrally
modifies, and disperses sunlight into shaded and underproductive areas of the inner and lower canopy of a wide variety of crops. Through
this process, Opti-Filter technology makes sunlight more productive by optimizing its spectral composition to provide plants with red-enriched
light that stimulates growth and productivity. Opti-Filter technology, in its various applications, also creates a microclimate environment
that promotes growth by providing protection from wind, cold and other harsh environmental conditions.
Our
Opti-Filter family of products has been developed and tested in over 65 multi-year field trials  during five years with leading
commercial growers in California's Central Valley, Salinas Valley, Coachella Valley, Napa Valley and Sonoma regions. Through these
trials we believe we have demonstrated that our proprietary technology effectively:
●
Increases
    revenue per acre by improving production and fruit/nut quality in mature vineyards and orchards;
●
Accelerates
    growth of newly planted crops and shortens time to first crop and maturity;
●
Increases
    production and accelerates growth without increasing irrigation needs, thus improving land and water resource utilization;
●
Advances
    root density and development and mitigates plant daily water stress;
●
Reduces
    labor costs associated with pruning, canopy management, training, other related farming practices; and
●
Protects
    plants from harsh weather conditions, animals and, in some cases, insect pests.
50
Opti-View™
Opti-View
is a multi-vendor precision agriculture platform designed to optimize farmers' ability to manage their crops and key inputs including
water and labor. Opti-View is a proprietary and highly sophisticated AI and machine learning based system that integrates data from our
own suite of sensors with data streams from strategic partners. This innovative system is designed to produce powerful predictive analytics
that will empower our customers to make better farming decisions. We call this Agricultural Intelligence™.
We
are committed to the development and utilization of established and emerging technologies to enhance the impact of Opti-Filter technology
and provide valuable information for our ongoing research. Accordingly, we have committed considerable resources under the guidance of
a world-class team to the creation of Opti-View.
We
believe that the Opti-View and Opti-Filter technology platforms, which are both secured by robust patent protection (see "Intellectual
Property" below) are complementary and highly innovative systems with very large addressable markets. Precision Agriculture is
a large and fast growing industry that is benefiting from steady increases in commercial adoption.
Our
Strengths
We
believe that we have several key strengths that provide us with a competitive advantage:
●
Transformative
    agricultural technology platform with proven technology and multiple product applications:
Our technology is patented, functional
    and proven with a growing number of customers across major markets in North America and around the world. We expect this trend to
    accelerate as our base of installations grows.
Intellectual
    property portfolio
: Opti-Harvest owns five patent families, including two U.S. patents, one granted European patent, granted
    patents in each of Brazil, Chile, Peru, Israel, and Mexico, as well as one pending international (PCT) application and over thirty
    additional patent applications pending worldwide as of May 30, 2022. Opti-Harvest has 5 years of R&D experience, and continues
    to drive innovation.
●
Strong
    ecosystem relationships
: Through the course of the previous five years and over 65 field trials
,
    Opti-Harvest has developed strong collaborative relationships with many leading growers in the commercial agriculture ecosystem;
    growers who are in the best position to recognize the multiple benefits our technology and products bring to their farming initiatives.
    These industry partnerships and collaborative relationships are key to our technical and economic success and are not easily replicated.
Commitment
    to ESG
: Opti-Harvest has an authentic and overarching commitment to ESG, sustainability and social impact. We are committed to
    a broad set of stakeholders, including our employees, our community, our environment, our customers, and our stockholders. This commitment
    aligns with our mission to provide farmer-focused solutions to sustainably feed our world. We see opportunities in many areas of
    the agricultural value chain to address some of today's most significant challenges including food security, farmer livelihood,
    and resource use efficiency.
●
We
    are decarbonizing agriculture:
Fresh produce accounts for roughly one-tenth of food related greenhouse gas (GHG emissions), or
    approximately 1% of GHG emissions in the U.S. (transportation accounts for 28% of that carbon footprint). We are committed to developing
    technologies that reduce CO₂ emissions across our installed and potential customer base and that reduce the agriculture's
    contribution to climate change. GHG emissions associated with fresh produce production include on-farm inputs (applied water, biocides,
    direct electricity use, direct fuel use and other materials and resources) as well as upstream GHG emissions associated with the
    production and supply of these inputs. We believe our technologies reduce consumption of several of these GHG inputs by improving
    production, operational efficiencies, and resource utilization.
51
We
    are conserving resources:
An important physiological response to our technology includes as much as 50% mitigation of plant daily
    water stress, more efficient uptake of water and soil nutrients as well as increased photosynthetic uptake of carbon dioxide from
    the atmosphere.
Experienced
    leadership and scientific team
: Opti-Harvest has built an experienced multi-disciplinary leadership and scientific team with
    a strong track record of driving scientific and product innovation and revenue growth in several technology businesses. Each member
    of our leadership team has decades of experience in their respective area of expertise.
We
    continue to drive innovation
. By continuing to focus on innovation and enhancement of our product offerings, we believe we can
    build significant market share, product usage and customer satisfaction. Our research and development, engineering, marketing and
    executive leadership teams bring expertise from a variety of fields including horticultural science, agronomy, optical physics, materials
    science, electronics and networking, product design, software development, machine learning and AI.
Our
Growth Strategy
Our
products are marketed to two key markets: commercial agriculture and home garden. We have developed products that accelerate growth,
increase production, reduce labor costs and optimize land and water resource utilization for both market segments.
We
are developing revenue streams for the following product lines:
●
Opti-Filter™
    Products
●
ChromaGro™
    Products
●
OptiView™
    SaaS Licensing
Each
of the growth initiatives outlined below depends on our ability to develop broad adoption of our products. We believe that the success
our field testing and extensive product development in collaboration with major commercial growers throughout California will promote
awareness and acceptance of our products. We intend to leverage this acceptance in both the consumer grower and commercial agriculture
segments through the execution of the following strategies:
●
New
    product introduction
: Our initial commercialization strategy is focused on our Opti-Filter suite of products. We will initially
    focus on converting existing relationships – commercial growers with whom we have partnered in testing, developing, and proving
    our technology – to become customers and advocates of our commercial products. The introduction of our Opti-View platform will
    represent an important opportunity to expand revenues from existing Opti-Filter customers as well as to offer stand-alone precision
    agriculture solutions to a broad addressable market.
●
Expansion
    into new geographies
: Opti-Harvest will initially derive most of its business from select markets in North America. As we build
    momentum by expanding our existing customer base and building awareness through new sales and marketing initiatives, we anticipate
    significant growth opportunities in additional regions in North America and in international markets.
●
Finance
    / Lease Model
: We intend to establish finance partners that will allow us to offer attractive financial terms to commercial agriculture
    customers. We believe that offering this option to prospective customers will serve to accelerate adoption and increase the sales
    velocity and scale of our business.
Opti-Harvest's
growth and success is dependent upon developing and implementing go-to-market strategies that ensure superior customer satisfaction,
retention, and expansion. As Opti-Harvest transitions from highly successful field trials to comprehensive commercialization initiatives,
opportunities for industry partnerships and/or developing marketing, sales and distribution capabilities internally will be evaluated
and piloted to ensure all aspects of customer and product support are validated.
52
Go-to-Market
We
believe there are clear and subtle trade-offs between internal development of these capabilities and partnering with existing industry
players to execute on our go-to-market strategies. These trade-offs include speed of deployment, geographic coverage, cost and control
of our brand and reputation. Partnering may provide benefits for speed, coverage, and cost, while internal development may provide more
brand and corporate reputation control and direct customer relationships. Potential partners to be considered will be farm equipment
dealerships, irrigation distributors, and other agricultural retailers providing fertilizer, crop protection and technology products
to growers in the field.
The
go-to-market processes begin after the customer acquisition process is complete and there are signed contractual commitments between
Opti-Harvest and the grower customer. These sub-processes will need to cover the following:
Installation
– Installation of Opti-Harvest products in grower fields will require reliable personnel, the appropriate tools, expertise,
and training. The in-field installation of the Opti-Harvest products are not very complex and will allow for fairly quick training of
either company or partner employees.
Grower
training
– The successful implementation of the Opti-Harvest products will require some basic training of growers. It will
be most important in the customer acquisition process that the growers are well informed about the use and benefits of each product purchased.
At the time of installation, the grower's employees will need to have brief training on how to install and monitor the products
in-field to identify when the products may need to be adjusted and/or replaced due to potential defects or weather-related impairment.
Growers will also need to modify some of their farming practices when using our products – this usually will result in less labor
and other potential savings.
Warranty
– Opti-Harvest will provide a 12-month warranty  policy for each product implemented in the field. This warranty will
require Opti-Harvest to repair or replace any products as quickly as possible if defects are identified. This will also require optimal
inventory processes that allow for timely replacement when necessary.
Support
– It is anticipated that minimal product support will be necessary with the Opti-Harvest products. However, online and phone
options will be provided to allow growers to quickly ask questions and/or report problems in the field.
Upgrades
– It is expected that there will be minimal product upgrade requirements, while the products are functional in the field. Upgrades
will be provided through natural replacement processes given the lifecycles of each individual product.
Recycle
– At the end of the product lifecycle, the materials used in the Opti-Harvest products will be collected in the field and transported
to a recycling partner to ensure the optimal environmental impact.
Current
Challenges in Agriculture and Agribusiness
Society
is critically dependent on agriculture. It is the foundation of our food chain and provides 27% of the world's jobs. From its inception,
its primary purpose has been to feed and fuel human activity.
Driven
by innovation and investment, agricultural productivity has increased substantially. Agricultural output nearly tripled between 1948
and 2015 – even as the amount of labor and land used in farming declined by approximately 74% and 24%, respectively. During that
same period farmers in many parts of the world have increased efficiency and productivity. But agriculture is entering a new era marked
by scarcer resources, greater demand and potentially higher price and supply volatility. Going forward, the world must produce far more
with less.
53
To
meet this challenge, farmers must increase production per acre. They need to reduce the risk of crop failure, minimize operating costs
and sell crops for the highest price possible. This requires, amongst other things, effectively managing resources like land, water and
other inputs while minimizing the impact of weather and pests.
Yet
farmers are confronted with increasing pressure from climate change, soil erosion, biodiversity loss, changing consumer tastes in food
and concerns about how their food is produced. Nevertheless, farmers and producers are tasked with sustaining a global population with
food production that will need to increase by 50% or more by 2050. Compounding the challenge is the reality that farms around the world
have unique characteristics and challenges: different landscapes, soils, available technologies, access to needed capital, supply and
distribution chains, and highly variable potential yields.
Climate.
The
    effects of climate change are increasingly impacting farmers' ability to grow the food we need. Increasingly volatile weather
    and more extreme weather events can change growing seasons, limit the availability of water, allow weeds, pests and fungi to thrive,
    all of which reduce crop productivity.
Soil
erosion is reducing the amount of arable land for agriculture and declining biodiversity affects the pollination of crops. Farmers are
under pressure to conserve water and use fewer agricultural inputs.
Rise
in the frequency of droughts and floods, all of which tend to reduce crop yields.
Consumer
needs and expectations drive the food value chain.
Farmers
need to keep pace with increasing demand for more food and higher quality food. In addition to concerns about adequate food supply, society
has rising expectations for 'good food', coupled with expectations that farmers will reduce negative impacts that conventional
farming practices may have on the environment.
Driving
Innovation by Tapping into Our Most Fundamental Resource
Technology
is a fast-paced industry that impacts our lives, our society, and culture in countless ways. The speed and scale with which technology
can disrupt existing business and create new opportunities and industries is staggering. Agriculture technology ("Agtech"),
new breeding techniques, soil and biome enhancement, precision agriculture, robotics, satellites, artificial intelligence, big data and
the Internet of Things ("IoT") are being introduced and adopted at a remarkable pace.
Innovations
in animal and crop genetics, chemicals, robotics, global positioning systems (GPS), imagery, sensors and the use of big data have driven
changes in the U.S. farming sector, causing total farm output to more than double between 1948 and 2015, even while the amount of land
and labor devoted to farming declined.
The
power, promise, and potential of Agtech is its capacity to make agriculture more productive and sustainable. For example, because of
Agtech, the farm-to-fork process is becoming more automated, connected, sensed, and traced, while data-driven technologies promise to
boost agricultural productivity by increasing yields, reducing losses and lowering input costs.
54
Yet,
despite these advances in Agtech and the technologies introduced in the information age, we believe that sunlight remains our most fundamental
resource; one that can unlock even greater potential for agricultural production and resource management through the development of innovative
technologies that optimize plant utilization of sunlight.
From
home garden growers to large commercial scale agribusinesses, sunlight plays a crucial role and light interception is a major limiting
factor in production and product quality in a wide variety of crops. Plants are green because they absorb the most productive parts of
the light spectrum and reflect what they don't need. Green light is a signal for plants to slow-down or stop growth. It is nature's
way of separating plants to avoid overcrowding but has become a limiting factor in the modern intensive agriculture. We exploit this
well-established but underutilized scientific phenomenon.
Opti-Harvest
is focused on developing best-in-class agriculture technologies that help growers efficiently increase production, improve economic performance
and environmental sustainability. We are driving innovation by harnessing nature's most fundamental resource – sunlight itself,
in a way never done before.
Market
Opportunity
Commercial
Farming
Agriculture,
food, and related industries contributed $1.109 trillion to the U.S. gross domestic product (GDP) in 2019, a 5.2% share. The output of
America's farms contributed $136.1 billion of this sum—about 0.6% of GDP.
According
to the most recent Census of Agriculture, production costs for the approximately 110,000 farms actively producing fruit, tree nuts and
berries had increased 17% over the prior census period (2012). Approximately 45% of these farms reported a net loss.
Against
this background, rapid population growth, increased urbanization, and mounting stress on natural resources have increased the need for
agriculture to become a more efficient, sustainable industry.
The
Agtech sector has the potential to completely reshape global agriculture, dramatically increasing the productivity of the agriculture
system while reducing the environmental and social costs of current Ag production practices. We will need to produce more food in the
next forty years than during the entire course of human history. In order to do so on a planet showing signs of severe environmental
stress, Agtech innovations will be essential. We believe human ingenuity can rise to the occasion and overcome these global challenges,
but to do so will require significant investment, commitment, and AgTech-specific entrepreneur support systems to foster innovation in
the field.
55
The
World Economic Forum estimates that if just 15% to 25% of farms were to adopt precision agriculture technologies, global crop yield could
increase by 10% to 15% by 2030 while at the same time reducing greenhouse gas emissions and water use by 10% and 20% respectively.
Demand
for agricultural equipment is cyclical, influenced by, among other things, farm income, farmland values, weather conditions, the demand
for agricultural commodities, commodity and protein prices and general economic conditions, as well as government policies and subsidies.
The
global farm machinery and equipment market is expected to grow from $183.8 billion in 2020 to $201.8 billion in 2021 at a compound annual
growth rate (CAGR) of 9.8%
Field
Marketing & Analysis
Field
monitoring & analysis technologies, collectively referred to as "precision agriculture" provide software and sensors
to monitor, analyze, predict, and optimize in-field elements including crops, water, weather, and pests. Startups in this sector offer
hardware sensors designed to collect specific farm data such as weather, moisture, and plant health. Other providers in the space develop
software that can interpret data and improve decision making.
Growers
have long been a critical market for field monitoring & analysis companies promising significant benefits through data collection.
However, the promises of meaningful improvements through data collection have largely fallen short because growers have lacked sufficient
tools to interpret and act on the data. This has led to a significant level of technology fatigue and resistance to new technologies.
However, with data collection infrastructure well advanced, emerging AI & machine learning and predictive analytics technologies
are poised to complete the loop by improving decision-making capabilities and offering meaningful recommendations based on data trends
and analysis.
The
estimated market size of the field monitoring and analysis, based on the global revenues of precision agriculture providers, is estimated
to be $5.8 billion in 2020 and growing at a CAGR of 13.6% to reach $11.1 billion by 2025.
Home
Garden Market
With
the global population expected to reach more than 10 billion by 2050, there is a continuous need to increase food production and buffer
stocks. In addition, we believe the COVID-19 pandemic has aggravated food insecurity in urban centers because of the disruption in the
food supply chain, aggravation of the physical and economic barriers that restrict access to food, and the catastrophic increase in food
waste because of labor shortages.
There
is a need to adopt more resilient food systems, reduce food waste, and strengthen local food production. Enhancing availability at the
household and community levels through home gardening and urban agriculture is an important strategy.
Over
the recent years there has been growing interest to strengthen and intensify local food production in order to mitigate the adverse effect
of global food shocks and food price volatilities. Consequently, there is much attention towards home gardens as a strategy to enhance
household food security and nutrition.
Food
production within the cities include small land farming in households, local community gardens, indoor and rooftop gardens, vertical
farming, etc. We believe that home gardening is poised to play an important role in advancing food and nutritional security during and
after the COVD-19 pandemic, while also strengthening the provisioning of numerous ecosystem services
.
56
The
home garden industry in the U.S. continues to expand accordingly. Recent data from the 2021 National Gardening Survey reports that:
●
More
    than four in ten U.S. households (42%) report participating in some type of food gardening (vegetable gardening, fruit tree cultivation,
    growing berries, or herb gardening) in 2020, significantly higher than in 2019 (33%).
●
Among
    respondents from households who purchased one or more lawn and garden items in 2020, 39% (an estimated 40.2 million households) say
    they spent slightly (24%) or a great deal (14%) more in 2020 on lawn and garden supplies and activities than they did in 2019, just
    under half (48%, 50.3M) say they spent about the same amount, and 13% (13.8M) say they spent slightly (8%) or a great deal (6%) less.
●
Among
    those who say they participated in lawn and garden activities more in 2020 than they did in 2019, nearly three-quarters (72%) say
    they also spent more in 2020 than in 2019. Even among those who say they participated less in 2020 than in 2019, 31% say they spent
    more while 38% say they spent less.
●
Amongst
    U.S. households, 30.4% (39.1M) report participating in vegetable gardening, 23.5% (30.1M) report participating in tree care, 20.0%
    (20.5M) report participating in container gardening, 14.4% (18.4M) report cultivating fruit trees and 7.7% (9.9M) report growing
    berries.
●
The
    estimated 18.4 million households participated in cultivating fruit trees in 2020 represents an increase of 35.4% since 2019 (13.6M)
    and nearly 2 million higher than the five-year average of 16.5M.
●
With
    an estimated 95.8 million participating households in 2020 and an average spending of $458.26 per household, participating households
    spent an estimated $43.9 billion.
●
Just
    under half (47.5%) of participating households purchased one or more outdoor containers and season extending products in 2020, significantly
    higher than the percentage of participating households which purchased this product type in 2019 (41.1%) and higher than the five-year
    average of 42.8%.
The
broader industry data above supports, in our opinion, our outlook that the addressable market for our home and garden products is a significant
portion of the $8.3 billion spent in the category:
57
Our
Technology and Products
We
are building a global agriculture technology business providing advanced equipment and precision agriculture software and solutions.
Our
technologies fall into three categories:
●
Advanced
    Farm Equipment (Opti-Filter family of products),
●
Precision
    Agriculture (Opti-View), and
●
Home
    garden products (ChromaGro, powered by Opti-Filter).
Opti-Filter™
Opti-Filter
products are designed to optimize land and water resources by utilizing sunlight in novel ways to accelerate growth in newly planted
crops (Opti-Gro, Opti-Shield and ChromaGro), and improve production in mature vineyards and orchards (Opti-Skylights and Opti-Panels).
Opti-Filter photo-selective technology turns sunlight into scattered, red-enriched light, maximizing the sun's most productive
rays and filtering out those that inhibit growth and production, which results in enhanced foliage activity, fruitfulness, shorter time
to production, and substantial increases in marketable yield. These benefits are enhanced further by significant reductions in labor
costs and other related expenses associated with conventional farming practices. Increasing outputs (yield, revenues) and lowering inputs
(labor costs, resources) are age-old challenges for farmers. Our consumer product line (ChromaGro) is focused on the home garden market.
Opti-View
The
Opti-Filter family of products is complimented by our unique Agricultural Intelligence™ technology which collects and processes
critical environmental data from a variety of sensors and industry partners to provide predictive analytics and recommendations that
are designed to enable growers to incorporate powerful data into their decision-making process. Currently, we have approximately 9 million
records to correlate with our plant physiology data, and we are developing a proprietary Agricultural Intelligence framework to integrate
our data with data streams from our partners. We believe this system will provide far greater insights than any single system could and
will enable growers to collect and interpret crucial data from which to make better choices to improve yield and maximize resources including
irrigation and labor.
Sunlight
as a Service ™
We
believe that our products will provide innovative, sustainable solutions for agriculture by focusing on:
●
Optimizing
    Nature – Our sustainable Ag technology platform is powered by the sun. It maximizes a free and renewable resource with no need
    for additional chemicals or fertilizers. We bring the benefits of a greenhouse (control of light, climate and labor) to open field
    cultivation for accelerated crop development, greater crop yields and significant savings in energy, labor, water, and carbon emissions.
●
Water
    Use Efficiency – Stimulating root development by providing crops with tailored light and physical protection creates a microclimate
    which limits evaporation. Our products allow more efficient water uptake, thus reducing plant drought stress and irrigation needs.
●
Land
    Use Efficiency – Economic needs push growers to plant crops very close together. We solve the problem of shading that occurs
    in high density planting by maximizing light-interception beyond all known conventional practices, allowing better land use and optimized
    productivity for higher revenue per acre.
●
Carbon
    Fixation – Our products are carbon footprint-negative. By increasing photosynthesis and photomorphogenic activity, thereby
    accelerating and maximizing growth and production, we believe our products allow plants to fix more carbon from the atmosphere than
    they would without our technology.
●
Reclaim
    & Recycle – Our products are made in the USA from highly durable HDPE, an eco-friendly and recyclable plastic. Our solution
    and services model will include a reclaim and recycle program to reduce waste and promote a sustainable product life cycle.
●
Agriculture
    Intelligence ™ - In addition to our Ag technology platform, we will provide a comprehensive suite of Internet of Things (IoT)
    and AI solutions to help growers gain further insights into optimizing crop yield and resource use through predictive analytics and
    recommendations. These tools are also used to guide us in our own product development.
58
Opti-Filter™
Family of Products
We
believe Opti-Filter technology combines innovative industrial design with established science and leverages our scientific team's
decades of combined experience in the fields of biochemistry, plant physiology, biophysics, and optical physics.
●
Opti-Filter
    photo-selective technology turns sunlight into scattered, red-enriched light, maximizing the sun's most productive rays and
    filtering out those that inhibit growth and production
●
Red-enriched
    light fuels photosynthesis and triggers positive photomorphogenic plant responses.
●
By
    filtering sunlight to the red end of the spectrum while diffusing and directing light where it is needed, Opti-Filter accelerates
    plant growth and enhances productivity.
●
Opti-Filter
    promotes enhanced foliage activity, shorter time to production, maturity and substantial increases in marketable yield –all
    by simply using what's already there: SUNLIGHT.
Growth-Accelerating
Products
Accelerates
    plant establishment & development
Reduces
    time to production & maturity
Overcomes
    shading of vine / tree replants by adjacent older vines / trees
Reduces
    labor costs by naturally training vines to the trellis
Opti-Gro
Newly
    planted & replanted vines (table, raisin, wine grapes)
Yes
Yes
Yes
Yes
Opti-Shield
Newly
    planted & replanted tree crops (citrus, almond, pistachio, avocado, etc.)
Yes
Yes
Yes
Yes
ChromaGro
Vegetable
    Gardens (tomato, pepper, herbs, etc.)
Yes
Yes
Yes
NA
Opti-Gro
Units
function as individual plant-growth chambers that target multiple biological processes to naturally accelerate growth and shorten
time to first crop and maturity in table and raisin grapes, and wine grape vines.
-
Optimized
    light and microclimate environment promotes & accelerates vine growth and development
-
Shortens
    time to 1
st
crop and maturity.
-
Naturally
    trains vines upward reducing labor costs associated with training.
-
Durable
    chamber protects from environmental stress and repels pests.
Replaces
    currently used small diameter grow tubes that constrain rather than accelerate growth.
59
Applications
The
Opti-Gro units are applied soon after vine planting and typically left in place for one season only. However, their positive impacts
last several seasons after their removal.
Vine
Replants
. Table grape crops experience on average 3% to 5% annual loss, wine grapes can experience over 20% loss annually and all
require vines to be replaced. Replanting missing vines is critical to maintaining vineyard production and extending economic life. However,
replanted vines seldom catch up with the rest of the vineyard due to shading by adjacent mature vines, and shortage in labor required
for vine training. Opti-Gro units overcome heavy shading from adjacent vines, accelerate vine canopy and root development, provide self-training,
and shorten time to production and maturity by 2-3 years.
Newly
Planted Vineyards
. Vine growth and development in cool climate regions can take 4-5 years to reach full production. Opti-Gro units
protect vines through the herbaceous stage becoming lignified (woody) in year 1, surviving the winter and continuing development to production
by year 2. Tailored light delivery and controlled microclimate result in dramatically faster, longer, and more vigorous vegetative growth.
The
current state-of-the-art alternative to Opti-Gro is a small diameter grow tube, which constrains rather accelerates growth.
Field
Tests
We
have conducted fully randomized field trials, each composed of 20+ replicates per treatment performed in wine grapes .
Warm
Climate
. In 2019-2021 trials in 'Thompson seedless' raisins, 'Autumn Royal' and 'Ivory' table
grapes located around SJ Valley, California, Opti-Gro treated replant vines continued growth throughout the season while control (common-practice)
replant vines ceased growing in June due to excessive shading . 50-300% (cultivar dependent) larger trunk diameter was detected
by end of the 1
st
season . Fruitfulness in the 2
nd
season was enhanced by 300% in vines treated by Opti-Gro
in the former season relative to control replant vines .
Cold
Climate
. In 2018-2020 trials ('Pinot Noir' wine grape in Monterey County; 'Cabernet Sauvignon' and 'Chardonnay'
in Sonoma County), the Opti-Gro vines trunk diameter continued growth throughout the season, extending into Autumn, unlike control vines
that ceased growing by mid-summer . The result was 20-300% (cultivar dependent) larger trunk diameter than control vines .
60
Vines
with Opti-Gro (based on field tests )
●
Over
    2x faster growth
●
5x
    more likely to survive winter frost dieback
●
Reach
    time to full production 1-3 years faster
●
20-300%
    increase in trunk diameter
●
300%
    increase in 2
nd
year's fruitfulness
Opti-Shields
are designed to fit newly planted fruit trees, nut trees and other crops. The Opti-Filter technology provides a spectrally modified
light environment, wind-breaking and improved microclimate that accelerates establishment and growth of newly planted tree crops, shortening
time-to-production and maturity.
Applications
Opti-Shield
are applied soon after planting and kept for two years.
Field
Tests
We
have conducted fully randomized field trials on Trees with Opti-Shield, each composed of 20+ replicates per treatment .
In
several 2019-2021 field trials (newly planted Sumo, Orri, and Tango mandarins; almonds; pistachio) Opti-Shield canopy volume and foliage
density increased by 50-200% within 1-2 years (crop dependent) compared to control trees while daily water stress was reduced by 50 %.
Insect-pest infestation in the OH-trees was reduced by 70 %. First fruit production increased by 50-100% in citrus mandarin relative
to common practice trees .
Our
field tests have shown that trees with Opti-Shield have :
●
1-2
    years faster to full production
●
200%
    accelerated in canopy size
●
50%
    increase to foliage density
●
70%
    reduction in Thrips infestation
61
Products
Improving Production
Provides
    spectrally modified, diffused light for better fruit yield
Self-training;
    greatly reduced canopy management
Protection
    from rain, hail, frost, sunburn
Design
    for present and future trellising systems
Opti-Panels
Wine
    & table grapes; Trellis tree crops
Yes
Yes
Yes
Yes
Opti-Panels
utilize Opti-Filter technology to reduce labor costs and improve production in mature vineyards and crops grown on trellis systems.
-
Translucent
    panels provide photoselective light environment & self-training for table grapes and other fruit crops grown on trellis system;
-
Canopy
    is kept open all season improving fruitfulness, cluster and fruit quality the following year;
-
Labor
    required to manage canopy, position shoots and branches is drastically reduced;
-
Crop
    maturity in table grapes can be advanced, delayed or not affected based on selection of panel chromatics; and
-
Continuous
    protection from rain, sunburn, frost and hail.
Applications
Rapid
canopy growth during peak season creates excessive shading resulting in delayed coloration, uneven ripening and unmarketable waste. Aggressive,
repeated pruning and trimming is required during the season. The Opti-Panels maintain the center trellis open throughout the season.
The Opti-Panels are installed by retrofitting into current trellis systems, or along with initial construction, and remain in the vineyard
or orchard for many years.
Field
Tests
We
have conducted fully randomized field trials, each composed of 20+ replicates per treatment during 2017-2019, followed by semi-commercial,
non-randomized trials in 2020-2021.
In
2017-2019 table grape trials ('Flame Seedless', 'Krissy', 'Allison' cultivars) Opti-Panel treated
vines demonstrated a 40% increase in crop value. Grapes ripened earlier or later in the season (cultivar and Panel color dependent) while
berry size, width and length increased relative to the control. In the 2020-2021 table grape trials ('Ivory', 'Krissy',
'Allison', 'Scarlotta', Autumn Crisp, Autumn King', 'Adora' cultivars) rain-protection function
was added to the Opti-Panels. Preliminary results demonstrate positive impact of the Red Panel on next year's fruitfulness and
may add protection of the cluster berries from heat damage.
In
a 2020 trellised peach trial the red Opti-Panel demonstrated earlier fruit maturation and 17% increase in harvested fruit.
62
Our
field tests  have shown that trellised crops with Opti-Harvest:
●
Ripen
    earlier or later in the season (crop and cultivar dependent)
●
Have
    a 40% increase in crop value
●
Are
    protected from rain, wind, and sunburns
●
Are
    labor saving on pruning, leafing, training, positioning
●
Have
    an open canopy for easy harvesting accessibility
Provides
    spectrally modified, diffused light for better fruit yield, size and quality
Reduces
    pruning of inner canopy
Improves
    water-use-efficiency
Designed
    for conventional tree canopy
Opti-Skylight
Citrus,
    Pistachio, Cherry & other tree crops
Yes
Yes
Yes
Yes
Opti-Skylight
solar funnels penetrate the canopy of mature fruit and nut trees to improve production in tree crops.
-
Parabolic
    collector concentrates and directs sunlight to the inner canopy, while translucent down tube delivers the production-enhancing effects
    of red enriched light throughout the canopy.
-
Active
    foliage developing around the formerly most shaded inner canopy, resulting in more productive canopy
-
Field
    trials confirm increased productivity, earlier maturation, improvements in fruit size and quality, all with higher water use efficiency.
-
Reduced
    labor costs associated with center canopy pruning.
Applications
High
density plantings result in heavy shading. Sunlight reaches exterior foliage while inner canopies remain shaded, non-productive or produce
unmarketable fruit.
63
Field
Tests
In
a 2017-2019 trial (Sumo mandarin) Opti-Skylight treated trees produced 21% more total fruit and 44% more large fruit in the first season.
In the second season, too much fruit load (~20% above control) caused branch breaking.
In
a 2018-2021 trial (Sumo mandarin) Opti-Skylight treated trees produced 6% more marketable fruit in the 1
st
treatment year
relative to control; 13% more in the 2
nd
year; and 47% more fruit in the 3
rd
year. Fruit ripened 1-2 weeks earlier
than control .
In
a 2019-2020 trial (Tango mandarin) Opti-Skylight treated trees produced 22% more marketable-size fruit in 1
st
year; 4% more
total fruit, and 15% more fruit of large size in the 2
nd
, on-year; and 45% more marketable-size fruit in the 3
rd
year.
In
a 2018-2020 trial (pistachio) Opti-Skylight treated trees produced 24% higher in nut-yield in the 1
st
trial year (off-year);
16% higher in 2
nd
, on-year, and 34% higher than control in the 3
rd
, off-year. Nut quality was 9% higher in treated
trees relative to control .
In
a 2019-2020 trial (pistachio) Opti-Skylight trees produced 11% higher nut yield in the 1
st
trial (on-) year relative to control,
and 16% higher yield in the 2
nd
(on-year). Nut quality was 8% higher in treated trees relative to control. The Opti units
additionally advanced nut maturation .
Field
trials were each comprised of 15-30 replicates / treatment, fully randomized. Reduced center-canopy pruning was applied in most trials.
Opti-Harvest treated trees suffered 50% less water stress during summer-autumn periods .
Our
field tests have shown that Trees with Opti-Skylight :
●
Have
    a 15-47% increase in yield
●
Produce
    less non-marketable fruit waste
●
Have
    50% less water stress during Summer-Autumn
●
Have
    a $2,000-$12,000 increase in fruit value per acre, crop and year dependent.
ChromaGro
We
are applying the knowledge, science and successful results of our Opti-Filter agribusiness products to the home garden market with ChromaGro.
A similar but modified version of our Opti-Gro product line, ChromaGro is designed for use in home gardens in rural (backyards, professional
gardens) and urban (patios, balconies and terraces) settings. Field trials have demonstrated over 200% increases in fruit yield as well
as protection from frost in tomatoes, peppers and beans.
64
Opti-View
According
to the International Food Policy Research Institute, data-driven techniques can increase farm productivity by as much as 67% by 2050.
This type of increase will be essential for growers to meet expected demand caused by worldwide population growth and other environmental
factors.
Opti-View
is a proprietary, high sophisticated, multi-vendor AI and machine learning precision agriculture platform. It integrates data from our
own suite of sensors with data streams from strategic partners. It's designed to empower farmers with better data – by offering
valuable insights from predictive analytics so they can better manage their crop yields and key inputs including water and labor. We
call this Agricultural Intelligence™.
We
are committed to the development and utilization of existing and emerging technologies to enhance the impact of Opti-Filter technology
and provide valuable information for our ongoing research. Accordingly, we have committed considerable resources under the guidance of
a world-class team to the creation of Opti-View.
Opti-View
roadmap:
●
Over
    the last several years we designed and successfully implemented a custom proof of concept Internet of Things environmental monitoring
    system. The system measures and reports basic parameters (such as visible and IR light, temperature, etc.) on a 15-minute basis.
    The system incorporates several hundred sensors installed at a variety of commercial growers in Central California.
●
We
    created a prototype cloud-based dashboard where the data feed is aggregated, organized, and stored. Approximately 9 million records
    are available for rudimentary analysis and graphical presentation. The system also incorporates real time messaging for reporting
    alarm conditions such as high heat.
●
We
    will build a data warehouse to hold results from our 60+ field experiments for correlation purposes.
●
Opti-View
    is now being created to house our next generation cloud based dashboard with significantly enhanced presentation and analytic capabilities.
    Specifically, the ability to capture crop yield and environmental inputs to create AI training sets for predictive analytics and
    recommendations on how to improve crop yield and lower resource usage. This will be the alpha (internal) version of our Agriculture
    Intelligence platform.
●
We
    have started the design of the next generation of hardware to increase our capabilities with new functions such as multispectral
    and RGB imaging and more accurate local weather. We believe our next generation of gateways will have increased reliability and speed
    and allow for processing to be performed at the edge of the network to increase our capabilities and lower costs.
●
We
    will incorporate data-streams from industry partners to further enhance our Opti-View system. We believe that these additional data
    streams will make for more accurate predictions than those from a single stream alone. This is slated to be the first (beta) commercial
    deployment of Agricultural Intelligence.
Competition
While
we are not aware of any company which markets and/or sells technology or products that compete directly with our Opti-Filter technology
and products, many agricultural technology companies are developing and commercializing technologies that purport to increase crop yield
by other methods such as Biolumic which is expanding work with ultraviolet waves to boost crop yields and crop enhancement, developing
products to protect and enhance crop yields.
In
addition, we compete with many companies developing and commercializing precision agriculture equipment and technology such as John Deere,
AGCO, CNH Industrial and Kubota Corp, drone companies including Aerobics, Taranis and Aerovironment, technology enablers that include
GPS companies such as Trimble and CiBo Technologies, data analysis companies such as Farmobile, CropX, Semcrop, Arable, SemiosBio, FarmX
and Climate Corp., DNA sequencies companies like Trace Genomics and applied technology business at Raven Industries as well as chip and
sensor companies ranging from NXP Semiconductors to STMicroelectronics that serve the "smart farming" market.
We
believe that many of these companies are developing technologies, in particular those focused on genetics and chemicals, that may ultimately
be complimentary to ours.
65
With
an established portfolio of intellectual property across each of our business segments, and a highly differentiated approach to building
technologies designed to leverage sunlight to drive agricultural efficiencies and crop yield, we believe that we are uniquely positioned
in the market to deliver our value proposition.
Intellectual
Property
We
have pursued a thoughtful and aggressive IP strategy, balancing trade secret and patent protection of our innovation. Our patent portfolio
includes extensive international coverage expected to expire between 2034 (earliest filings) through 2041 (most recent filings), broadly
covering our Canopy, Grow, Shield, Barrel and Panel units, as well as our novel Internet of Things and related innovations.
Our
patents cover Opti-Harvest light harvesting & delivery and plant microclimate-regulating technologies.
Summary
of Opti-Harvest Patent Portfolio
●
Opti
    Patent Family 1 is entitled "Harvesting, transmission, spectral modification and delivery of sunlight to shaded areas of plants,"
    and covers the Company's core light harvesting technology. This family has a first filing date of 2013, is expected to expire
    in 2034, was originally filed by DisperSolar, and has since been acquired by Opti-Harvest. This patent family (including issued patent
    and pending applications) extends to a wide geography spanning major fruit producing regions across Europe, Israel, much of Latin
    America, China, and the United States. Representative issued US patent nos. 10,132,457 and 10,955,098 provide coverage of aspects
    of the Company's foundational Opti-Skylight systems, and additional claim coverage is being pursued in a pending U.S. Continuation
    application.
Opti
    Patent Family 2 is entitled "Methods and devices for stimulating growth of grape vines, grape vine replants, or agricultural
    cash crops," and covers the Company's Opti-Grow and Shield technologies for improvement of growth of new plantings, for
    example grave vine replants. This patent family has a first filing date of 2017, and is expected to expire in 2038. Representative
    United States patent application no. 16/526,790 is pending before the USPTO. As with Family 1, the disclosure and pending claim scope
    are not limited to any specific crop or specific field application. This patent family is pending in a geography spanning major fruit
    producing regions across Europe, Israel, much of Latin America, South Africa, India, China, and the United States.
●
Opti
    Patent Family 3 is entitled "A light directing platform for a cultivar growing environment," and covers the Company's
    proprietary Internet of Things technology. This patent family has a first filing date of 2018, is expected to expire in 2039, and
    is pending in the United States (US 17/287,594), China, Europe, India, and Israel.
●
Opti
    Patent Family 4, filed in 2019, is entitled "Trellis Panels for Sunlight Delivery, Shoot Positioning, and Canopy Division"
    is expected to expire in 2040, covers Opti-Harvest's Opti-Panel technologies, and is pending in Europe, Australia, New Zealand,
    Israel, much of Latin America (with an allowance having been issued in 2022 for Chile), South Africa, India, China, and the United
    States (17/571,937).
●
Opti
    Patent Family 5, filed in 2020, is entitled "Agricultural Data Integration and Analysis Platform," is expected to expire
    in 2041, agricultural data integration and analysis platforms, and is pending internationally (PCT/US2020/044046).
We
have also applied for trademark protection for OPTI-HARVEST in the United States, Brazil, Chile, China, Europe, Hong Kong, India, Israel,
Mexico, Peru, and the United Kingdom.
We
have also applied for protection of design features of our Opti-Skylight units in Europe (granted in 2022), China, and the United States.
We
expect to rely on, trade secrets, copyrights, know-how, trademarks, license agreements and contractual provisions to establish our intellectual
property rights and protect our brand and services. These legal means, however, afford only limited protection and may not adequately
protect our rights. Litigation may be necessary in the future to enforce our intellectual property rights, protect our trade secrets
or determine the validity and scope of the proprietary rights of others. Litigation could result in substantial costs and diversion of
resources and management attention.
We
intend to seek the widest possible protection for significant product and process developments in our major markets through a combination
of trade secrets, trademarks, copyrights and patents, if applicable. We anticipate that the form of protection will vary depending upon
the level of protection afforded by the particular jurisdiction.
We
intend to register trademarks as a means of protecting the brand names of our companies and products. We intend protect our trademarks
against infringement and also seek to register design protection where appropriate.
66
We
rely on trade secrets and unpatentable know-how that we seek to protect, in part, by confidentiality agreements. We expect that, where
applicable, we will require our employees to execute confidentiality agreements upon the commencement of employment with us. We expect
these agreements to provide that all confidential information developed or made known to the individual during the course of the individual's
relationship with us is to be kept confidential and not disclosed to third parties except in specific limited circumstances. The agreements
will also provide that all inventions conceived by the individual while rendering services to us shall be assigned to us as the exclusive
property of our company. There can be no assurance, however, that all persons who we desire to sign such agreements will sign, or if
they do, that these agreements will not be breached, that we would have adequate remedies for any breach, or that our trade secrets or
unpatentable know-how will not otherwise become known or be independently developed by competitors.
Manufacturing
Our
products are all designed, and we expect to manufacture them in the United States, with the exception of some components and accessories
used for mounting and installation related uses. We believe we have adequate manufacturing capabilities, including manufacturing facilities
with whom we have established working relationships and consultants with expertise in our specific type of materials, design and production
methods to meet industry demand.
Marketing
We
plan to market our technology and products directly to commercial growers, commercial nurseries, vineyard and farm management firms and
farmland asset managers. We intend to leverage the many existing relationships established during the testing and development of our
products; to convert those collaborative partnerships into customer relationships and capitalize on the word of mouth and referral culture
prevalent in farming communities. We will also be actively marketing through industry trade publications, conferences and Ag events.
Employees
We employed nine (9) full-time persons on June 30, 2022. We are not a party to any collective bargaining agreement.
We
seek to create a workplace environment that fosters personal and business successes by offering training and development, which further
assist our employees in meeting and exceeding our established standards of performance. Additionally, our employees work directly with
our executive management team to address any internal concerns and continuously improve the ways in which we serve our employees and
customers.
Government
Regulation
We
are required to comply with all regulations, rules and directives of governmental authorities and agencies applicable to the installation
and operation of any of our products in any jurisdiction, in which we would conduct activities. We do not believe that government regulation
will have a material impact on the way we conduct our business.
Legal
Proceedings
We
are not currently a party to any legal proceedings. We may at times be involved in litigation and other legal claims in the ordinary
course of business. When appropriate in our estimation, we may record reserves in our financial statements for pending litigation and
other claims.
Facilities
Our
principal executive offices are located at 1801 Century Park East, Suite 520, Los Angeles, California 90067. We sublease this location
on a month-to-month agreement, and our rent expense totaled approximately $60,000 in 2021  . We believe that our office is
sufficient to meet our current needs and that suitable additional space will be available as and when needed on acceptable terms.
67
MANAGEMENT
The
following table sets forth, as of the date of this prospectus, the names and ages of our directors, executive officers and key employees,
as well as the principal offices and positions held by each person:
Name
Age
Positions
Jonathan
    Destler
58
Chief
    Executive Officer, Secretary and Chairman of the Board
Jeffrey
    Klausner
50
Director
Steve
    Handy
54
Chief
    Financial Officer, Director of Operations
Nicholas
    Booth
50
Chief
    Technology Officer
Yosepha
    Shahak Ravid
73
Chief
    Science Officer
Jodd
    Readick
65
Chief
    Technology Officer, Precision Ag
Jeremy
    Basich
50
Vice
    President of Sales and Distribution
Directors
and Executive Officers
Jonathan
Destler, age 58
Chief
Executive Officer, Secretary and Director
Jonathan
Destler has served as our Chief Executive Officer, Secretary and member of our Board of Directors since our formation on June 20, 2016.
Mr. Destler is a founder has served as President of Touchstone Advisors, Inc., a management consulting and advisory firm, since 2008.
He was also a co-founder of Financial Profiles, Inc., a leading west-coast based financial communications agency, from 2007 to 2010).
He also served as SVP, business development at LHA, a leading financial communications firm from 2004 to 2007). Previously, he was SVP
and Director of Business Development at FRB/Weber Shandwick, a division The Interpublic Group, from 2001 to 2004), one of the world's
premier advertising and marketing services companies. Mr. Destler began his career on Wall Street as a private investor and financier
assisting early stage companies with securing financing and formulating their capital and public market strategies. We believe that Mr.
Destler is qualified to serve as a member of our Board based on his broad experience in corporate finance, corporate development, capital
formation and corporate communications.
Jeffrey
Klausner, age 50
Director
Mr.
Klauser has served as a member of our Board of Directors since July 1, 2021. Mr. Klausner has more than 25 years of experience in finance,
accounting, compliance, capital markets and mergers and acquisition. Since 2020 he has been Managing Director at Sherwood Partners, a
leading financial services advisory firm. Prior to joining Sherwood Partners, he was with Capital Brands from 2015 to 2020, most recently
as the Chief Financial Officer. Capital Brands is the manufacturer and distributor of the Magic Bullet and Nutribullet single serve blenders.
From 2013 to 2014 he was Chief Financial Officer for Digital Turbine (formerly Mandalay Digital) (Nasdaq: APPS), a leading independent
mobile growth platform, working with advertisers, publishers', carriers, and OEMs. He has also served as Chief Financial Officer
of InfoSonics from 2003 to 2010, a Nasdaq traded cell phone distributor and original design manufacturer for wireless handsets and accessories.
Mr. Klausner graduated from Tulane University's A.B. Freeman school of business with a Bachelor of Science in Management, and has
been a Certified Public Accountant in the state of California. Mr. Klausner's knowledge of and experience in accounting and finance
led to our conclusion that he should serve as a director.
68
Steve
Handy, age 54
Chief
Financial Officer, Director of Operations
Mr.
Handy has served as our Chief Financial Officer and Director of Operations since May 2021. From October 2018 to May 2021, Mr. Handy was
a consultant and founder of GoCompliance, LLC, providing senior financial and executive advisory services to private and publicly traded
companies. Mr. Handy previously served as Chief Financial Officer of Tix Corporation, an entertainment ticketing company, from March
2010 to October 2017, and on an outsourced basis, from November 2017 to May 2021. Prior to 2010, Mr. Handy held positions of increasing
responsibility, including Senior Vice President, Chief Financial Officer and Corporate Secretary of SM&A (2002-2007), a former publicly
traded professional services firm. In addition, Mr. Handy previously held various management roles in high technology manufacturing and
service companies, including working in Europe for Dot Hill Systems (1991-1997), a technology manufacturer. Mr. Handy also served as
Senior Auditor for Deloitte & Touche LLP. Mr. Handy graduated from California State University, San Marcos with a Bachelor of Science
in Management, and is a Certified Public Accountant in California. Mr. Handy also holds the designation of Chartered Global Management
Accountant.
Key
Employees
Nicholas
Booth, age 50
Chief
Technology Officer
Dr.
Nicholas Booth Ph.D. has served as our Chief Technical Officer since July 2021. Dr. Booth is a control person of DisperSolar LLC, and
from 2012-2021, was the Chief Technology Officer of DisperSolar LLC, a California-based Ag innovations startup company, and he is the
inventor of numerous optical, optomechanical systems currently within the Opti-Harvest portfolio. He currently oversees the design, development
and deployment of Opti-Harvest's light collection and delivery systems. From 2008 to 2012, he was Director of Research and Development
at ChromoLogic LLC responsible for product design, testing and development of innovative technologies for NASA, the Army, Navy and Air
Force. Dr. Booth holds a B.Sc. in Physics from the University of Newcastle Upon Tyne (UK), an M.Sc. in Surface Science and Engineering
from Loughborough University (UK), and a Ph.D. in Physics from Warwick University (UK).
Yosepha
Shahak Ravid, age 73
Chief
Science Officer
Dr.
Yosepha Shahak Ravid has served as our Chief Science Officer since July 2021. Dr. Shahak Ravid is a control person of DisperSolar LLC,
and from 2016-2021, served as the President of DisperSolar LLC, a California-based Ag innovations startup company. Dr. Shahak Ravid has
a prior academic career of over 50 years, specializing in the areas of plant biochemistry, physiology, and horticulture with emphasis
on plant-light-microclimate interactions and their implication on practical agriculture. She received her PhD (thesis on bioenergetics
of photosynthesis) in 1978 from the Weizmann Institute of Science, Rehovot, Israel; followed by a post-doctorate training in Brookhaven
National Lab, NY, USA; an independent Senior-scientist position at the Weizmann Institute of Science, Israel, for 10 years; and a Prof.
level Scientist at the Institute of Plant Sciences, Agriculture Research Organization (ARO), The Volcani Center, Israel, where she established
and headed a photo-biology research group for 25 years. Dr. Shahak Ravid additionally served in leading research management functions
in Israel, including Chair of Citriculture Department at the ARO; Scientific Director of the Northern Ag R&D Center; the ARO Assistant
Director of all Israel Regional Ag R&D Centers; Chair of numerous reviewing committees for the Ministry of Agriculture, and more.
Dr. Shahak Ravid spent several research sabbatical years in Brookhaven Lab, NY, and in UC-Davis, CA. She was an active member of the
International Society of Horticultural Science (ISHS) and was the organizer and convener of several international symposia and workshops
on Plastics in Agriculture, and on Photoselective Netting.
69
Jodd
Readick, age 65
Chief
Technology Officer, Precision Ag
Jodd
Readick has served as a consultant and advisor to the company in the areas of AI and IoT since its inception in 2016. In July 2021, he
started serving as Chief Technology Officer – Precision Agriculture. He created the IoT infrastructure for the company and oversees
the development of Opti-Harvest's next generation of products. Before joining Opti-Harvest, Mr. Readick was founder or Chief Executive
Officer of four innovative IoT, remote care and telecommunications companies, all built around technology innovations which he pioneered:
User Centric Communications - recognized by Deloitte as the 6th fastest growing high-tech firm in the New York region (1999-2018); Vumber.com
- an innovator in anonymous communications (2005-2010); LymeLog - chronic disease precision medicine tracking web app (2017-2019); and
DMI Communications - pioneer in prepaid calling (1994-2000). Mr. Readick has designed and managed IoT and telecom infrastructure systems
as an entrepreneur and as an executive with DuPont, leading a unit responsible for Rapid Iterative Prototyping, where he was a pioneer
in what's become known as Agile Product Development (1984–1989). Mr. Readick has designed a wide array of IoT, expert systems
and telecom systems that transmit and analyze data to improve treatment of chronic diseases, to improve telephone security, to automate
debt collection and optimize music sampling and music promotion. Mr. Readick's entry to IoT was shaped by decades of experience
in wired and then wireless communications, serving as the telecommunications subject matter expert for Arthur Anderson working on due
diligence and M&A projects with companies such as Samsung, MCI and NextWave Wireless (1997–2003), as advisor to Wells Fargo
(1996) on call center architecture, for NYNEX Mobile on routing systems (1985). Since 2017 Mr. Readick has been an angel investor and
advised and served on the Board of Advisors for small innovative IoT, AI, remote care, and mobile communications companies, advising
them on their infrastructure, user experience and the usability of their AI interfaces, where he is named as an inventor on several their
patents. Mr. Readick holds a BA in Psychology from Stony Brook University with an emphasis in Artificial Intelligence (1979).
Jeremy
Basich, age 50
Vice
President of Sales and Distribution
Mr.
Basich has served as our Vice President of Sales and Distribution since January 2022. From January 2021 to December 2021, Mr. Basich
was the Director of Member Relations with Blue Diamond Growers. In addition to his professional role, he is a consultant with GLG Gerson Lehrman
& Coleman Group. From 2016-2020 Mr. Basich was the VP of Marketing and Operations for JSS Almonds, a privately held almond processor
and marketer in Kern County. From 2011-2015 Mr. Basich was the Chief Facilities Officer for Agri-Care, a professional farm services company
in which he was responsible for all operational compliance, facilities strategy, profit, and management. He began his career with Costco
in 1990. From there he rose into corporate Fresh Produce buying, and summarily was recruited to Wal-Mart corporate offices responsible
for fresh meat purchasing for a billion-dollar category. He has financial training from the Walton Business School and has been on various
farm advisors' boards over the last decade.
Scientific
Advisory Board
The
Scientific Advisory Board provides information and advice to our directors and management on an ongoing basis regarding the scientific
and technical aspects of our various products, services and ventures with commercial growers. The Scientific Advisory Board is composed
of external specialists in agriculture, engineering, and software.
The
Scientific Advisory Board provides advice and expertise in the following areas:
●
identification
    and assessment new technologies and services;
●
technology
    and software design; and
●
environmental
    and agriculture policy.
We
have entered into consulting agreements with Geoff Anderson, Mike Conaway, Joseph Turchyn, and Dr. Hazel Wetzstein, and have appointed
them as members of our Scientific Advisory Board. We have also identified other suitable candidates and are currently in negotiation
with them regarding the terms of their services. However, there is no assurance that we will be able to identify, attract or retain any
or a sufficient number of qualified professionals.
Term
of Office
Our
directors are appointed to hold office until the next annual general meeting of our stockholders or until removed from office in accordance
with our bylaws. Our officers are appointed by our Board of Directors and hold office until removed by the Board, absent an employment
agreement.
Director
Independence
Applicable
Nasdaq rules require a majority of a listed company's board of directors to be comprised of independent directors within one (1)
year of listing. In addition, Nasdaq rules require that, subject to specified exceptions, each member of a listed company's audit,
compensation and nominating and corporate governance committees be independent, and that audit committee members also satisfy independence
criteria set forth in Rule 10A-3 under the Exchange Act.
Our
board of directors has undertaken a review of the independence of each director. Based on information provided by each director concerning
his background, employment and affiliations, our board of directors has determined that Mr. Klausner is independent and does not have
a relationship that would interfere with the exercise of his independent judgment in carrying out the responsibilities of a director
and that this director is "independent" as that term is defined under the listing standards of Nasdaq. In making such determination,
our board of directors considered the relationship that such non-employee director has with us and all other facts and circumstances
that our board of directors deemed relevant in determining his independence, including the beneficial ownership of our capital stock
by each non-employee director.
70
Controlled
Company Exception
After
the consummation of this offering, Jonathan Destler, our Chief Executive Officer and Chairman of the Board will, in the aggregate, have
more than 50% of the combined voting power for the election of directors. As a result, we will be a "controlled company"
within the meaning of the Nasdaq rules and may elect not to comply with certain corporate governance standards, including that: (i) a
majority of our board of directors consists of "independent directors," as defined under the Nasdaq rules; (ii) we have a
nominating and corporate governance committee that is composed entirely of independent directors with a written charter addressing the
committee's purpose and responsibilities; and (iii) we have a compensation committee that is composed entirely of independent directors
with a written charter addressing the committee's purpose and responsibilities. We intend to rely on certain of the foregoing exemptions
provided to controlled companies under the Nasdaq rules. Therefore, immediately following the consummation of this offering, we do not
intend to have a nominating and corporate governance committee or an entirely independent compensation committee. Accordingly, to the
extent and for so long as we rely on these exemptions, you will not have the same protections afforded to stockholders of companies that
are subject to all of these corporate governance requirements. In the event that we cease to be a "controlled company" and
our common stock continues to be listed on Nasdaq, we will be required to comply with these provisions within the applicable transition
periods. We do not intend to rely on the exemption to the requirement that a majority of our directors be "independent" as
defined in the Nasdaq rules.
Committees
of Our Board of Directors
Our
board of directors has established an audit committee and a compensation committee. The composition and responsibilities of each committee
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.
Although
each committee is directly responsible for evaluating certain enumerated risks and overseeing the management of such risks, the entire
board of directors is generally responsible for and is regularly informed through committee reports about such risks and any corresponding
remediation efforts designed to mitigate such risks. This enables the board of directors and its committees to coordinate the risk oversight
role.
Audit
Committee
The
sole member of our audit committee is Jeffrey Klausner, who also chairs the audit committee. The audit committee's main function
is to oversee our accounting and financial reporting processes, internal systems of control, independent registered public accounting
firm relationships and the audits of our financial statements. The committee's responsibilities include, among other things:
●
approve
    and retain the independent auditors to conduct the annual audit of our financial statements;
●
a
    review the proposed scope and results of the audit;
●
Review
    accounting and financial controls with the independent auditors and our financial and accounting staff;
●
Review
    and approve transactions between us and our directors, officers and affiliates;
●
Recognize
    and prevent prohibited non-audit services; and
●
Establish
    procedures for complaints received by us regarding accounting matters; and oversee internal audit functions, if any.
All
audit and non-audit services, other than de minimis non-audit services, to be provided to us by our independent registered public accounting
firm must be approved in advance by our audit committee.
The
audit committee operates under a written charter that will satisfy the applicable standards of the SEC and Nasdaq and which will be available
on our website prior to the completion of this offering at www.opti-harvest.com.
Compensation
Committee
The
sole member of our compensation committee is Jeffrey Klausner, who chairs the compensation committee. The primary purpose of our compensation
committee is to discharge the responsibilities of our board of directors also in overseeing our compensation policies, plans and programs
and to review and determine the compensation to be paid to our executive officers, directors and other senior management, as appropriate.
Specific responsibilities of our compensation committee include, among other things:
●
review
    and determine the compensation arrangements for management;
●
establish
    and review general compensation policies with the objective to attract and retain superior talent, to reward individual performance
    and to achieve our financial goals;
●
administer
    our stock incentive and purchase plans;
●
oversee
    the evaluation of the Board and management; and
●
review
    the independence of any compensation advisers engaged by the compensation committee.
Mr.
Klausner is a non-employee director, as defined in Rule 16b-3 promulgated under the Exchange Act and an outside director, as defined
pursuant to Section 162(m) of the Internal Revenue Code of 1986, as amended, or the "Code."
With
respect to director compensation, our compensation committee is responsible for reviewing the compensation paid to members of the board
and recommending modifications to board compensation that the compensation committee determines are appropriate and advisable to the
board for its approval from time to time. In this regard, the compensation committee may request that management report to the compensation
committee periodically on the status of the board's compensation in relation to other similarly situated companies. The compensation
committee operates under a written charter that will satisfy the applicable standards of the SEC and Nasdaq and which will be available
on our website prior to the completion of this offering at www.opti-harvest.com.
Nominating
and Corporate Governance Committee
Since
we do not have a nominating and corporate governance committee comprised of independent directors, the functions that would have been
performed by such committee are performed by our directors.
Compensation
Committee Interlocks and Insider Participation
In
2019 and 2020, we did not maintain a compensation committee. None of the members of our compensation committee is, or has at any time
during the prior three years been, one of our officers or employees. None of our executive officers currently serves, or in the past
fiscal year has served, as a member of the board of directors or compensation committee of any entity that has one or more executive
officers serving on our board of directors or compensation committee.
Corporate
Governance
We
are committed to having sound corporate governance principles, which are essential to running our business efficiently and maintaining
our integrity in the marketplace. We understand that corporate governance practices change and evolve over time, and we seek to adopt
and use practices that we believe will be of value to our stockholders and will positively aid in the governance our company. To that
end, we regularly review our corporate governance policies and practices and compare them to the practices of other peer institutions
and public companies. We will continue to monitor emerging developments in corporate governance and enhance our policies and procedures
when required or when our board determines that it would benefit our Company and our stockholders.
71
Code
of Conduct and Ethics
We
have adopted a written code of business conduct and ethics that applies to our directors, officers and employees, including our principal
executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions. In
connection with the effectiveness of the registration statement of which this prospectus forms a part, our code of business conduct and
ethics will be posted on our principal corporate website at www.opti-harvest.com. In addition, we intend to post on our website all disclosures
that are required by law or the Nasdaq listing standards concerning any amendments to, or waivers from, any provision of the code.
Family
Relationships
There
are no family relationships between any of our directors or executive officers and any other directors or executive officers.
Indemnification
and Insurance
We
do not maintain directors' and officers' liability insurance. Our certificate of incorporation and bylaws include provisions
limiting the liability of directors and officers and indemnifying them under certain circumstances. We have entered into indemnification
agreements with all of our directors to provide our directors and certain of their affiliated parties with additional indemnification
and related rights. See "Description of Capital Stock — Limitation on Liability of Directors and Indemnification."
Board
Leadership Structure
Currently,
Jonathan Destler, is our principal executive officer and chairman of the board.
Stockholder
Communications with the Board of Directors
We
have not implemented a formal policy or procedure by which our stockholders can communicate directly with our board of directors. Nevertheless,
every effort has been made to ensure that the views of stockholders are heard by the board of directors or individual directors, as applicable,
and that appropriate responses are provided to stockholders in a timely manner. We believe that we are responsive to stockholder communications,
and therefore have not considered it necessary to adopt a formal process for stockholder communications with our Board. During the upcoming
year, our Board will continue to monitor whether it would be appropriate to adopt such a process.
Director
Compensation
We
did not pay any compensation to our directors for serving on our board of directors during the fiscal year ended December 31, 2020. The
following table summarizes the compensation awarded to, earned by, or paid to our non-employee director for the year ended December 31,
2021:
Name
Fees
    Earned or
Paid in Cash
Stock
    Awards (1)
Option
Awards
Non-Equity
Incentive Plan
Compensation
All
    Other
Compensation
Total
Jeffrey
    Klausner (2)
$
14,000
$
45,000
-
-
-
$
59,000
(1)
The
    amount represents 7,500 shares of our common stock at the fair value of stock awards granted during the year. The award is calculated
    on the date of grant in accordance with Financial Accounting Standards.
(2)
On
    July 1, 2021, Mr. Klausner was appointed to our Board of Directors and our audit committee chair.
Effective
July 1, 2021, we pay each non-executive director $5,000 per calendar quarter of service (with an additional $2,000 payment per quarter
made to our audit committee chair, if also a director), and, at the election of each director, an equity grant of common stock or an
option to purchase common stock, or any combination thereof. If a director elects to receive an option, the exercise price of the option
shall be equal to the weighted average closing price of the last 15 trading days of the applicable calendar quarter. If our shares of
common stock are not trading on a market, the exercise price shall be equal to the same price of our securities in any offering being
made, if any, on the day at the end of the applicable calendar quarter, and if there is no such offering, the last offering price of
our securities in its last offering. Any option granted shall have a term of five-years and vest on the date they are granted.
72
EXECUTIVE
COMPENSATION
Summary
Compensation Table - Years Ended December 31, 2021 and 2020
The
following table sets forth information concerning all cash and non-cash compensation awarded to, earned by or paid to the named persons
for services rendered in all capacities during the noted periods. No other executive officers received total annual salary and bonus
compensation in excess of $100,000.
Name
    and Principal Position
Year
Salary
Bonus
Option
    Awards (1)
Stock
    Awards
All
    Other Compensation
Total
Jonathan
    Destler
2021
$
204,167
$
30,000
$
6,797,473
$
-
$
31,675
$
7,063,315
Chief
    Executive Officer (2)
2020
$
114,000
$
-
$
-
$
-
$
28,341
$
142,341
Don
    Danks
2021
$
72,000
$
10,000
$
-
$
-
$
-
$
82,000
Former
    President (3)
2020
$
72,000
$
-
$
-
$
-
$
-
$
72,000
Steve
    Handy
2021
$
123,016
$
20,000
$
461,825
$
-
$
3,271
$
608,112
Chief
    Financial Officer and Director of Operations (4)(5)
2020
$
-
$
-
$
$
-
$
-
$
-
(1)
The amounts represent the fair value for 4,000,000 stock options granted to Mr. Destler, and 300,000 stock options granted to Mr. Handy
during the year. The award is calculated on the date of grant in accordance with Financial Accounting Standards.
(2)
The amounts listed under the column entitled "All Other Compensation" in the Summary Compensation Table for the year ended
December 31, 2021, include payments of $16,897 for health insurance premiums on behalf of the named executive officer's dependents,
matching contributions of $5,825 to our 401(k) Plan, and approximately $8,953 of automobile related expenses. For the year ended December
31, 2020, includes payments of $15,968 for health insurance premiums on behalf of the named executive officer's dependents, matching
contributions of $3,420 to our 401(k) Plan, and approximately $8,953 of automobile related expenses.
(3)
On October 8, 2021, Mr. Danks resigned as our President and as a member of our Board of Directors. Mr. Danks did not resign due to any
disagreement with us on any matter relating to our operations, policies, or practices. Mr. Danks remains employed by us, but he does
not serve in the role of a director or officer.
(4)
Effective May 17, 2021, Mr. Handy was hired as our Chief Financial Officer and Director of Operations.
(5)
The amounts listed under the column entitled "All Other Compensation" in the Summary Compensation Table for the year ended
December 31, 2021, include matching contributions of $3,271 to our 401(k) Plan.
Outstanding
Equity Awards at December 31, 2021
The
following table sets forth information regarding unexercised options and equity incentive plan awards for each Named Executive Officer
outstanding as of December 31, 2021:
Name
    and Position
Number
    of
Securities
Underlying
Unexercised
Options (#)
Exercisable
Number
    of
Securities
Underlying
Unexercised
Options (#) Unexercisable
Equity
    Incentive Plan Awards:
Number of Securities
Underlying
Unexercised
Unearned
Options
Option
Exercise
Price
Option
Expiration
Date
Jonathan
    Destler
(Chief
    Executive Officer) (A)
666,667
3,333,333
-
$
2.00
4/1/2031
Don
    Danks
(Former
    President)
-
-
-
-
Steve
                                            Handy
(Chief
                                            Financial Officer) (B)
175,000
125,000
-
$
2.00
5/17/2031
(A)
Per
    Mr. Destler's employment agreement, we granted to Mr. Destler an option to purchase 4,000,000 shares of common stock under
    the Company's 2016 Equity Incentive Plan, at an exercise price of $2.00 per share, for a term to expire on April 1, 2031, and
    where 83,333 shares underlying the option vest monthly, beginning on May 1, 2021.
(B)
Per
    Mr. Handy's employment agreement, we granted to Mr. Handy an option to purchase 300,000 shares of common stock under our 2016
    Equity Incentive Plan, at an exercise price of $2.00 per share, for a term to expire on May 17, 2031, and where 16,666 Option Shares
    vest monthly over a twelve (12) month period beginning on May 17, 2021.
2016
Equity Incentive Plan
On
June 20, 2016, we adopted our 2016 Equity Incentive Plan (the "2016 Plan") allowing the issuance of 1,000,000 shares. On
July 13, 2021, our Board of Directors increased the number of common shares authorized to be issued under the 2016 Plan to 7,000,000
shares. The 2016 Plan is for officers, employees, non-employee members of the Board of Directors, and consultants of the Company. The
2016 Plan authorizes the granting of not more than 7,000,000 restricted shares, stock appreciation rights ("SAR's"),
and incentive and non-qualified stock options to purchase shares of the Company's common stock. The 2016 Plan provided that stock
options or SAR's granted can be exercisable immediately as of the effective date of the applicable agreement, or in accordance
with a schedule or performance criteria as may be set in the applicable agreement. The exercise price for non-qualified stock options
or SAR's would be the amount specified in the agreement, but shall not be less than the fair value of the Company's common
stock at the date of the grant. The maximum term of options and SARs granted under the 2016 Plan is ten years. As of December 31, 2020,
no restricted shares, SAR's, and incentive and non-qualified stock options to purchase shares of the Company's common stock
options had been issued. The 2016 Plan has expired.
During
the year ended December 31, 2021, we granted a total of 4,300,000 stock options to our executive officers related to their employment
agreements, as discussed below.
2022
Stock Incentive Plan
On
May 17, 2022, the Company's Board of Directors approved our 2022 Stock Incentive Plan (the "2022 Plan"). Pursuant
to the terms of the 2022 Plan, the maximum number of shares of common stock available for the grant of awards under the 2022 Plan shall
not exceed 15,000,000. The Plan is for officers, employees, non-employee members of the Board of Directors, and consultants of the Company.
The Plan provides for the grant of options, restricted stock, restricted stock units, SAR's, performance awards, other stock-based
awards and dividend equivalents, or any combination of the foregoing.
Employment
Agreements
Jonathon
Destler, Chief Executive Officer
We
and Jonathan Destler entered into an Employment Agreement (the "Destler Agreement") dated December 17, 2018, and as amended
on March 31, 2021, which provides for an annual base salary of $240,000 for per annum. The salary will increase by 7% on November 1 of
each year, based on the salary due in the year prior to each such 7% increase.
73
The
Destler Agreement also grants to Mr. Destler an option, dated March 31, 2021, to purchase 4,000,000 shares of common stock under the
Company's 2016 Equity Incentive Plan, at an exercise price of $2.00 per share, for a term to expire on April 1, 2031, and where
83,333 shares underlying the option vest monthly, beginning on May 1, 2021.
Mr.
Destler shall be granted 1,000,000 shares of our common stock upon our listing of common stock on any market of the Nasdaq or New York
Stock Exchange. Mr. Destler may, in his sole discretion, be granted any part of or all such 1,000,000 shares in the form of a warrant
or option, exercisable at $0.001 per share, for the purchase of 1,000,000 shares of our common stock, for a term of five (5) years. Mr.
Destler's grant of and right to such 1,000,000 shares is conditioned upon and subject to Mr. Destler being an employee, officer
or director of the Company at the time that the Company's shares of common stock are listed on the Nasdaq or New York Stock Exchange.
The
Destler Agreement also provides for cash bonus(es), payable to Mr. Destler, equal to 10% of first $1,000,000 of our gross profits, 8%
of the second $1,000,000 of our gross profits, 6% of the third $1,000,000 of our gross profits, 4% of the fourth $1,000,000 of our gross
profits, and 2% of all of our gross profits in excess of $4,000,000. In lieu of any cash payment due to Mr. Destler as a bonus, Mr. Destler,
may in his sole discretion, elect to receive shares of our common stock of the Company, valued at $0.75 per share.
The
Destler Agreement also provides for a cash fee, payable to Mr. Destler, (i) equal to 3% (the "Transaction Fee") of the aggregate
value of any sale of all or a substantial amount of the assets or the capital stock of us, any sale, merger, consolidation or other event
which results in the transfer of control of or a material interest in us or of all or a substantial amount of the assets of us, provided,
however, in no event shall the Transaction Fee be less than $750,000, and (ii) equal to 6% (the "Licensing Transaction Fee")
of the aggregate value of any license, partnership or co-promotional agreement, joint venture, alliance, reselling agreement, development
agreement and any other such transaction in which we transfer any rights to our technology or intellectual property where the aggregate
licensing value is greater than $5,000,000, provided, however, that in no event shall the License Transaction Fee be less than $750,000.
The
Destler Agreement also obligates us to pay for Mr. Destler's costs related to his reasonable monthly cell phone and other mobile
Internet costs, home office Internet costs, car and commuting costs not to exceed $1,000 per month, and club membership costs, all of
which are payable not later than 10 days after the end of each month. Mr. Destler is also entitled to participate in our employee benefit
programs and provide for other customary benefits. Finally, the Destler Agreement prohibits Mr. Destler from engaging in certain activities
which compete with us, seek to recruit its employees, or disclose any of its trade secrets or otherwise confidential information.
Mr.
Destler is entitled to receive severance benefits upon termination of employment with us. Mr. Destler's entitlement to such severance
benefits shall be conditioned upon Mr. Destler's execution and delivery to us of (i) a general release of all claims, (ii) a resignation
from all of Mr. Destler's positions with us and (iii) an agreement not to directly or indirectly be employed or involved with any
business developing or exploiting any products or services that are competitive with products or services (a) being commercially developed
or exploited by us during Mr. Destler's employment and (b) on which Mr. Destler worked or about which Mr. Destler learned proprietary
information or trade secrets of us during Mr. Destler's employment with us.
If
Mr. Destler voluntarily elects to terminate his employment with us other than by Mr. Destler's resignation for good reason or if
we terminate Mr. Destler's employment for cause, or Mr. Destler dies or becomes incapacitated or otherwise disabled in such a manner
that, in the sole determination of our board of directors, Mr. Destler cannot reasonably perform the duties to us, then Mr. Destler shall
not be entitled to receive payment of any severance benefits. Mr. Destler will receive payment for all salary and unpaid vacation accrued
as of the date of Mr. Destler's termination of employment and Mr. Destler's benefits will be continued solely to the extent
of our then existing benefit plans and policies in accordance with such plans and policies in effect on the date of termination.
If
Mr. Destler's employment is terminated by us without cause or by Mr. Destler's resignation for good reason prior to or more
than 12 months after, a change of control, Mr. Destler will receive payment for all salary and unpaid vacation accrued as of the date
of Mr. Destler's termination of employment, and, in addition, Mr. Destler will be entitled to receive the following severance benefits:
(i)
continued payment of his base salary for a period of 12 months following the date of termination, in accordance with our normal payroll
practices;
(ii)
reimbursement of his premium cost for continuation coverage for the lesser of the first 12 months of continuation coverage or that number
of months until Mr. Destler becomes eligible for reasonably comparable benefits under any future employer's health insurance plan,
provided Mr. Destler makes a timely election for such continuation coverage and presents reasonably requested documentation of payment
of such premiums;
(iii)
payment of 100% of Mr. Destler's current year discretionary cash bonus;
(iv)
accelerated vesting as to 50% of Mr. Destler's then unvested option shares; and
74
(v)
reimbursement for up to $100,000 of expenses incurred in obtaining new employment, provided Mr. Destler submits evidence that is satisfactory
to us that the amount involved was expended and related to obtaining new employment.
If
Mr. Destler's employment is terminated by us without cause or by Mr. Destler's resignation for good reason in either case
within 12 months following a change of control, Mr. Destler will receive payment for all salary and unpaid vacation accrued as of the
date of Mr. Destler's termination of employment, and, in addition, Mr. Destler will be entitled to receive the following severance
benefits:
(i)
continued payment of his base salary for a period of 18 months following the date of termination, in accordance with our normal payroll
practices;
(ii)
reimbursement of his premium cost for continuation coverage for the lesser of the first 18 months of continuation coverage or that number
of months until Mr. Destler becomes eligible for reasonably comparable benefits under any future employer's health insurance plan,
provided Mr. Destler makes a timely election for such continuation coverage and presents reasonably requested documentation of payment
of such premiums;
(iii)
payment of 150% of Mr. Destler's current year discretionary cash bonus regardless of our or Mr. Destler's achievement of
the goals referred to in his employment agreement;
(iv)
accelerated vesting of 100% of all the unvested stock options; and
(v)
reimbursement for up to $50,000 of expenses incurred in obtaining new employment, provided Mr. Destler submits evidence that is satisfactory
to us that the amount involved was expended and related to obtaining new employment.
Steve
Handy, Chief Financial Officer, Director of Operations
Effective
May 9, 2022, we entered into an employment agreement with Steve Handy to serve as its Chief Financial Officer and Director of Operations
(the "CFO Agreement"). The term of employment pursuant to the CFO Agreement is twenty-four months. Mr. Handy's base
salary is $220,000 per annum during the first year of the term and $231,000 during the second year of the term, with 5% annual increases
and bonuses at the discretion of the Board of Directors. The CFO Agreement granted Mr. Handy an option to purchase 100,000 shares of
common stock (the "Option Shares") under our 2022 Stock Incentive Plan, at an exercise price of $2.00 per share, for
a term to expire on May 9, 2027, and where 4,167 Option Shares vest monthly over a twenty-four (24) month period beginning on May 9,
2021. Mr. Handy is entitled to receive a severance payment of $100,000 if terminated by us without cause. Mr. Handy is entitled to participate
in our employee benefit programs and provide for other customary benefits and is prohibited from engaging in certain activities which
compete with us, seek to recruit its employees, or disclose any of its trade secrets or otherwise confidential information. The CFO Agreement
replaced our prior employment agreement with Mr. Handy. The prior agreement provided for a base salary of $200,000 per annum and granted
Mr. Handy an option to purchase 300,000 shares of common stock (the "Option Shares") under our 2016 Equity Incentive Plan,
at an exercise price of $2.00 per share, for a term to expire on May 17, 2031, and where 16,666 Option Shares vest monthly over a twelve
(12) month period beginning on May 17, 2021.
Jodd Readick, Chief Technology Officer
Effective
July 1, 2021 we entered into an employment agreement with Jodd Readick to serve as our Chief Technology Officer – Precision Agriculture
(the "CTO Agreement"). The term of the CTO Agreement is for 12 months. Mr. Readick's base salary is $150,000 per annum.
Mr. Readick is entitled to participate in our employee benefit programs and provide for other customary benefits and is prohibited from
engaging in certain activities which compete with us, seek to recruit its employees, or disclose any of its trade secrets or otherwise
confidential information.
75
CERTAIN
RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
Director
and Officer Indemnification and Insurance
We
have entered into indemnification agreements with each of our directors and executive officers. These agreements, among other things,
require us or will require us to indemnify each director (and in certain cases their related venture capital funds) and executive officer
to the fullest extent permitted by Delaware law, including indemnification of expenses such as attorneys' fees, judgments, fines
and settlement amounts incurred by the director or executive officer in any action or proceeding, including any action or proceeding
by or in right of us, arising out of the person's services as a director or executive officer.
Our
Certificate of Incorporation and our bylaws provide that we will indemnify each of our directors and officers to the fullest extent permitted
by the DGCL. We also intend to purchase a policy of directors' and officers' liability insurance that will insure our directors
and officers against the cost of defense, settlement or payment of a judgment under certain circumstances.
Agreements
with DisperSolar LLC and Mr. Booth
Both
Yosepha Shahak Ravid and Nicholas Booth are members of DisperSolar LLC, a California limited liability company
("DisperSolar")
and are named inventors of the acquired patents from Dispersolar, discussed below.
Effective July 1, 2021, Ms. Shahak Ravid, our Chief Science Officer, and Mr. Booth, our Chief Technology Officer, were employed by
us. As of the date of this prospectus, DisperSolar has received payments of $600,000, and Mr. Booth has received no
payments.
Patent
Purchase Agreement with DisperSolar LLC
On
April 7, 2017, we and DisperSolar entered into a Patent Purchase Agreement (the "Agreement") pursuant to which we acquired
certain patents of DisperSolar. DisperSolar developed the patents for harvesting, transmission, spectral modification and delivery of
sunlight to shaded areas of plants.
We
agreed to pay the following for the acquisition of DisperSolar's intellectual property:
(i)
Initial
    Payment: $150,000 deposited into the account of DisperSolar within 10 days of the effective date.
(ii)
Initial
    Milestone Payments: Additional payments in the aggregate combined amount up to $350,000 upon reaching defined milestones, of which
    $50,000 was paid in 2017, $200,000 in 2018, and $100,000 in 2021.
(iii)
Earnout
    Payments: $800,000 paid on the on-going basis at a rate of 50% of gross margin and/or license revenue from the date of the first
    commercial sale of a covered product or the first receipt by us of license revenue, until the aggregate combined gross margin and
    license revenue reach $1,600,000.
On
December 6, 2018, we and DisperSolar amended the Agreement by increasing the milestone payments from $350,000 to $450,000.
As
of September 30, 2021, we had an $800,000 earnout obligation payable on the on-going basis at a rate of 50% of gross margin and/or license
revenue from the date of the first commercial sale of a covered product or the first receipt by purchaser of license revenue, until the
aggregate combined gross margin and license revenue reach $1.6 million.
We
are obligated to pay to DisperSolar royalties, as follows:
(i)
Following
    the recognition by us of the first $1,600,000 in aggregate combined gross margin and license revenue, and until we pay to DisperSolar
    an aggregate amount in royalties of $30,000,000, we shall pay to DisperSolar royalties on sales of covered products at a rate of
    8% of gross margin.
(ii)
Once
    we have paid to DisperSolar an aggregate amount in royalties of $30,000,000, we shall pay to DisperSolar royalties on sales of covered
    products at a rate of 4.75% of gross margin until the earlier of (x) such time as covered products are not covered by any claims
    of any assigned patent, and (y) the date of the consummation of a "Strategic Transaction."
"Strategic
Transaction" means a transaction or a series of related transactions that results in an acquisition of the Company by a third party,
including by way of merger, purchase of capital stock or purchase of assets or change of control or otherwise.
For
the six months ended June 30, 2022, and the years ended December 31, 2020 and 2019, and as of the date of this prospectus, the Company
recorded no earnout or royalty payment obligations as no gross margin was realized.
Strategic
Transaction
We
will pay to DisperSolar 7.6% of all license consideration received by us until the date of the consummation of a strategic transaction.
Strategic
Transaction Consideration. "Strategic Transaction Consideration" means any cash consideration and the fair market value of
any non-cash consideration paid to us by any acquirer as consideration for the Strategic Transaction, less the costs and expenses incurred
by us for the purpose of consummating the Strategic Transaction. We will pay to DisperSolar a percentage of all license consideration
received us as follows:
(i)
3.8%
    of the first $50,000,000 of the Strategic Transaction Consideration;
(ii)
5.7%
    of the next $100,000,000 of the Strategic Transaction Consideration (i.e., over $50,000,000 and up to $150,000,000);
(iii)
7.6%
    of Strategic Transaction Consideration over $150,000,000.
Inventor
Royalty
On
July 5, 2019, we and Mr. Booth entered into a Royalty Agreement. Mr. Booth is a member of Dispersolar, LLC and a named inventor of the
acquired patents from Dispersolar, LLC discussed above. Effective July 1, 2021, Mr. Booth was employed by us as our Chief Technology
Officer.
We
will pay Mr. Booth a percentage of all license consideration received by us as follows:
(a)
Once we have paid to DisperSolar an aggregate amount in royalties of $30,000,000 under the Agreement, we will pay to Booth a percentage
of all royalties on sales of covered products at a rate of 0.25% of gross margin until the earlier of (x) such time as covered products
are not covered by any claims of any assigned patent, and (y) the date of the consummation of a Strategic Transaction.
(b)
We will pay to Booth a percentage of all license consideration received us on the same terms as payable by us to DisperSolar under the
Agreement, except that the percentages of license consideration due to Booth shall be as follows:
(a)
0.4%
    of all license consideration received by us until the date of consummation of a Strategic Transaction;
(b)
0.2%
    of the first $50,000,000 of the Strategic Transaction Consideration;
(c)
0.3%
    of the next $100,000,000 of the Strategic Transaction Consideration (i.e., over $50,000,000 and up to $150,000,000); and
(d)
0.4%
    of Strategic Transaction Consideration over $150,000,000.
For
the six months ended June 30, 2022, and the years ended December 31, 2020 and 2019, and as of the date of this prospectus, no amounts
were due for earnouts or royalties.
PRINCIPAL
STOCKHOLDERS
The
following table lists, as of August 26, 2022, the number of shares of our common stock that are beneficially owned by:
(i)
each
    person or entity known to us to be the beneficial owner of more than 5% of the outstanding common stock;
(ii)
each
    named executive officer and director of our Company; and
(iii)
all
    executive officers and directors as a group.
Information
relating to beneficial ownership of common stock by our principal stockholders and management is based upon information furnished by
each person using "beneficial ownership" concepts under the rules of the Securities and Exchange Commission. Under these
rules, a person is deemed to be a beneficial owner of a security if that person has or shares voting power, which includes the power
to vote or direct the voting of the security, or investment power, which includes the power to dispose of or direct the disposition of
the security. The person is also deemed to be a beneficial owner of any security, of which that person has a right to acquire beneficial
ownership within 60 days. Under the Securities and Exchange Commission rules, more than one person may be deemed to be a beneficial owner
of the same securities, and a person may be deemed to be a beneficial owner of securities as to which he or she may not have any pecuniary
beneficial interest. Except as noted below, each person has sole voting and investment power.
The
percentages of common stock prior to the offering are calculated based on shares of our common stock issued and outstanding as of the
date of this prospectus. Percentages of common stock after the offering are calculated based on 34,263,067 shares of common stock
issued and outstanding after this offering (assuming no exercise of the over-allotment option) and based on an assumed public offering
price of $ per unit, which is the midpoint of the estimated offering range set forth on the cover page of this prospectus.
We
have outstanding warrants, options, and one (1) share of Series A preferred stock, convertible into shares of our common stock.
Unless
otherwise indicated, we believe that each person named in the table below has sole voting and investment power with respect to all shares
of common stock beneficially owned by them.
76
Name
    and Address of Beneficial Owners
(1)
Amount
    and Nature of Beneficial Ownership of Common Stock
Percent
    of Common Stock Prior to the Offering
Percent
    of Common Stock After the Offering
Percent
    of Series A Preferred Stock Prior to and after the Offering
Percent
    of Total Voting Power Prior to the Offering
Percent
    of Total Voting Power After the Offering
5%
    Stockholders
Touchstone
    Holding Company LLC
(2)
5,335,000
15.6
%
%
––
7.4
%
%
Destler
    Family Trust
(2)
2,500,000
7.3
%
%
––
3.5
%
%
Danks
    Family Trust
(3)
1,861,566
5.4
%
%
––
2.6
%
%
Danks
    Family Foundation
(3)
35,000
*
*
––
*
*
Vertical
    Leap Advisors LLC
(2) (3)
17,500
*
*
––
*
*
Allan
    P Brennan
(5)
1,769,667
5.2
%
%
––
2.5
%
%
Named
    Executive Officers and Directors
Jonathan
    Destler
(2)(6)
9,177,083
25.6
%
%
100
%
63.3
%
%
Don
    Danks
(3)
1,905,316
5.3
%
%
––
2
.6
%
%
Steve
    Handy
(4)
312,500
*
*
––
*
*
Jeffrey
    Klausner
45,000
*
*
––
*
*
All
    executive officers and directors as a group (3 individuals)
11,439,899
31.9
%
%
100
%
66.0
%
%
*
Less than 1%.______________
(1)
Unless
    otherwise specified, the address of each of the persons set forth above is in care of Opti-Harvest, Inc., at the address of: 1801
    Century Park East, Suite 520, Los Angeles, California 90067.
(2)
Includes
    5,335,000 shares held indirectly by Touchstone Holding Company LLC, 2,500,000 shares held by Destler Family Trust, 8,750 held
    by Vertical Leap LLC, and 1,333,333 shares of common stock that Mr. Destler has the right to acquire within 60 days of August 22,
    2022 through the exercise of options. Mr. Destler has voting and dispositive control over shares held by Touchstone Holding Company
    LLC, Destler Family Trust, and Vertical Leap Advisors LLC.
(3)
Shares
    held indirectly by Danks Family Trust, Danks Family Foundation, and Vertical Leap Advisors LLC. On October 8, 2021, Mr. Danks
    resigned as our President and as a member of our Board of Directors. Mr. Danks did not resign due to any disagreement with us on
    any matter relating to our operations, policies, or practices. Mr. Danks remains employed by us, but he does not serve in the role
    of a director or officer. Mr. Danks has voting and dispositive control over shares held by Danks Family Trust, Danks Family Foundation,
    and Vertical Leap Advisors LLC.
(4)
Includes
    312,500 shares of common stock that Mr. Handy has the right to acquire within 60 days of August 22, 2022 through the exercise
    of options.
(5)
Includes
    540,000 shares held indirectly by Allan P and Marth S Brennan Revocable Trust dtd 12/21/1996, 40,000 shares held indirectly by Allan
    Brennan and Martha S Brennan Trustee FBO the Allan Patrick Brennan and Martha Stella Brennan Trust, and 1,040,000 shares of common
    stock held directly by Allan P Brennan, and 149,667 shares of common stock held directly by Allan Brennan.
(6)
We
    have one share of Series A preferred stock outstanding, held by our co-founder, director and Chief Executive Officer, Jonathan Destler.
    The Series A preferred stock entitles its holder to a number of votes that is equal to 110% of the issued and outstanding shares
    of our common stock. Holders of our common stock and Series A preferred stock will generally vote together as a single class, unless
    otherwise required by law or our certificate of incorporation.
77
DESCRIPTION
OF CAPITAL STOCK
The
following description summarizes the material terms of our capital stock. Because it is only a summary, it does not contain all the information
that may be important to you. For a complete description of our capital stock, you should refer to our Certificate of Incorporation,
as amended, and our bylaws and to the provisions of applicable Delaware law.
The
following description summarizes the material terms of our capital stock. Because it is only a summary, it does not contain all the information
that may be important to you. For a complete description of our capital stock, you should refer to our Certificate of Incorporation,
as amended, and our Bylaws and to the provisions of applicable Delaware law.
Our
authorized capital stock consists of 100,000,000 shares of common stock, $0.0001 par value, and 1,000,000 shares of preferred stock,
1 share of which is designated as Series A preferred stock, $0.0001 par value. The rights, preferences and privileges of preferred stock
may be designated from time to time by our board of directors. As of the date of this prospectus, there were 32,263,068 shares
of our common stock issued and outstanding held of record by approximately 401 stockholders and 1 share of Series A preferred stock
issued and outstanding held of record by one person, Jonathan Destler, our Chief Executive Officer and director.
Undesignated
Preferred Stock
Under
the terms of our Certificate of Incorporation, our board of directors is authorized to issue shares of our undesignated preferred stock
in one or more series without stockholder approval. Our board of directors has the discretion to determine the rights, preferences, privileges
and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, of
each series of preferred stock.
The
purpose of authorizing our board of directors to issue preferred stock and determine its rights and preferences is to eliminate delays
associated with a stockholder vote on specific issuances. The issuance of preferred stock, while providing flexibility in connection
with possible future acquisitions and other corporate purposes, will affect, and may adversely affect, the rights of holders of common
stock. It is not possible to state the actual effect of the issuance of any shares of preferred stock on the rights of holders of common
stock until our board of directors determines the specific rights attached to that preferred stock. The effects of issuing preferred
stock could include one or more of the following:
●
restricting
    dividends on the common stock;
●
diluting
    the voting power of the common stock;
●
impairing
    the liquidation rights of the common stock; or
●
delaying
    or preventing changes in control or management of our company.
Once
our board of directors approves the rights and preferences for a series of preferred stock, we will file a Certificate of Designation
for such series of preferred stock with the Delaware Secretary of State formally establishing such rights and preferences.
Series
A Preferred Stock; Common Stock
Voting
Except
as set forth below, each holder of Series A preferred stock has the same rights as holders of common stock and shall be entitled to notice
of any stockholders' meeting. They shall also be entitled to vote with the holders of common stock, and not as a separate class,
except as may otherwise be required by law. Except as set forth below, each stockholder shall be entitled to one (1) vote for each share
of stock outstanding. Except as set forth below or otherwise provided by the law of the State of Delaware, any corporate action to be
taken shall be authorized by a majority of the votes cast by the stockholders. There are no cumulative rights to voting.
78
Each
share of Series A preferred stock is entitled to the number of votes equal to 110% of the number of votes of the common stock issued
and outstanding.
Additionally,
for as long as any shares of Series A preferred stock are outstanding, the holders of Series A preferred stock shall be entitled to elect
one director, or the Series A Director.
Protective
Provisions
For
as long as any shares of Series A preferred stock are outstanding, we must obtain the approval of at least a majority of the holders
of the outstanding shares of preferred stock, voting as a separate class, to:
●
Amend
    our articles of incorporation or, unless approved by our board of directors, including by the Series A Director, amend our bylaws;
●
Change
    or modify the rights, preferences or other terms of the Series A preferred stock, or increase or decrease the number of authorized
    shares of Series A preferred stock;
●
Reclassify
    or recapitalize any outstanding equity securities, or, unless approved by our board of directors, including by the Series A Director,
    authorize or issue, or undertake an obligation to authorize or issue, any equity securities or any debt securities convertible into
    or exercisable for any equity securities (other than the issuance of stock-options or securities under any employee option or benefit
    plan);
●
Authorize
    or effect any transaction constituting a Deemed Liquidation (as defined in this subparagraph), or any other merger or consolidation
    of the Company, where a Deemed Liquidation shall mean: (1) the closing of the sale, transfer or other disposition of all or substantially
    all of the Company's assets (including an irrevocable or exclusive license with respect to all or substantially all of the
    Company's intellectual property); (2) the consummation of a merger, share exchange or consolidation with or into any other
    corporation, limited liability company or other entity (except one in which the holders of capital stock of the Company as constituted
    immediately prior to such merger, share exchange or consolidation continue to hold at least 50% of the voting power of the capital
    stock of the Company or the surviving or acquiring entity (or its parent entity)), (3) authorizing or effecting any transaction liquidation,
    dissolution or winding up of the Company, either voluntary or involuntary;
provided, however
, that none of the following shall
    be considered a Deemed Liquidation: (A) a merger effected exclusively for the purpose of changing the domicile of the Company, or
    (B) a transaction or other event deemed to be exempt from the definition of a Deemed Liquidation by the holders of at least a majority
    of the then outstanding Series A preferred stock.
●
Increase
    or decrease the size of our board of directors as provided in our bylaws or remove the Series A Director (unless approved by our
    board of directors, including the Series A Director);
●
Declare
    or pay any dividends or make any other distribution with respect to any class or series of capital stock (unless approved by our
    board of directors, including the Series A Director);
●
Redeem,
    repurchase or otherwise acquire (or pay into or set aside for a sinking fund for such purpose) any outstanding shares of capital
    stock (other than the repurchase of shares of common stock from employees, consultants or other service providers pursuant to agreements
    approved by our board of directors under which the Company has the option to repurchase such shares at no greater than original cost
    upon the occurrence of certain events, such as the termination of employment) (unless approved by our board of directors, including
    the Series A Director);
●
Create
    or amend any stock option plan of the Company, if any (other than amendments that do not require approval of the stockholders under
    the terms of the plan or applicable law) or approve any new equity incentive plan;
●
Replace
    the President and/or Chief Executive Officer of the Company (unless approved by our board of directors, including the Series A Director);
79
●
Transfer
    assets to any subsidiary or other affiliated entity (unless approved by our board of directors, including the Series A Director);
●
Issue,
    or cause any subsidiary of the Company to issue, any indebtedness or debt security, other than trade accounts payable and/or letters
    of credit, performance bonds or other similar credit support incurred in the ordinary course of business, or amend, renew, increase
    or otherwise alter in any material respect the terms of any indebtedness previously approved or required to be approved by the holders
    of the Series A preferred stock (unless approved by our board of directors, including the Series A Director);
●
Modify
    or change the nature of the Company's business;
●
Acquire,
    or cause a subsidiary of the Company to acquire, in any transaction or series of related transactions, the stock or any material
    assets of another person, or enter into any joint venture with any other person (unless approved by our board of directors, including
    the Series A Director); or
●
Sell,
    transfer, license, lease or otherwise dispose of, in any transaction or series of related transactions, any material assets of the
    Company or any subsidiary outside the ordinary course of business (unless approved by our board of directors, including the Series
    A Director).
Dividends
Subject
to the rights of the preferred stockholders set forth in "-Protective Provisions", our board of directors shall have full
power and discretion, to determine out of legally available funds what, if any, dividends or distributions shall be declared and paid.
Dividends may be paid in cash, in property, or in shares of common stock. Shares of common stock and Series A preferred stock are treated
equally and ratably, on a per share basis, with respect to any dividend or distribution from us. If a dividend is paid in the form of
shares of common stock or rights to acquire common stock, the holders of common stock and Series A preferred stock shall both receive
common stock or rights to acquire common stock. No dividends shall be declared or payable in the form of Series A preferred stock.
Liquidation
Rights
If
there is a liquidation, dissolution or winding up of the Company, holders of our common stock and Series A preferred stock would be entitled
to share in our assets remaining after the payment of liabilities equally and ratably, on a per share basis.
Conversion
Voluntary
Conversion: Each share of Series A preferred stock shall be convertible into one fully paid and nonassessable share of common stock at
the option of the holder. Additionally, each share of Series A Preferred Stock shall automatically convert into one share of common stock
upon the first to occur of (a) a transfer of such share of Series A Preferred Stock other than to Mr. Destler, (b) the death or incapacity
of Mr. Destler, or (c) or the resignation of Mr. Destler as an officer of the Company.
Other
Provisions
Holders
of our common stock and Series A preferred stock have no preemptive or conversion rights or other subscription rights, and there are
no redemption or sinking fund provisions applicable to the common stock or Series A preferred stock.
Warrants
As
of June 30, 2022, we had total outstanding warrants to purchase up to 5,870,610 shares of common stock at a weighted average exercise
price of $3.28 per share.
Units
Each
unit being offered in this offering consists of one share of common stock and a warrant to purchase one share of common stock. The share
of common stock and warrant that are part of the units are immediately separable and will be issued separately in this offering, although
they will have been purchased together in this offering.
Warrants
Issued in this Offering
Form
The
warrants will be issued under a warrant agent agreement between us and Colonial Stock Transfer Company, Inc., as warrant agent. The material
terms and provisions of the warrants offered hereby are summarized below. The following description is subject to, and qualified in its
entirety by, the form of warrant agent agreement and accompanying form of warrant, which is filed as an exhibit to the registration statement
of which this prospectus is a part. You should review a copy of the form of warrant agent agreement and accompanying form of warrant
for a complete description of the terms and conditions applicable to the warrants.
80
Exercisability
The
warrants are exercisable immediately upon issuance and will thereafter remain exercisable at any time up to five (5) years from the date
of original issuance. The 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 purchased upon such exercise (except in the case of
a cashless exercise as discussed below).
Exercise
Price
Each
warrant represents the right to purchase one share of common stock at an exercise price of $ per share (equal to 125% of the public offering
price), assuming an initial public offering price of $ per unit (which is the midpoint of the estimated range of the initial public offering
price shown on the cover page of this prospectus). The exercise price is subject to appropriate adjustment in the event of certain share
dividends and distributions, stock splits, stock combinations, reclassifications or similar events affecting our shares of common stock
and also upon any distributions of assets, including cash, stock or other property to our shareholders. The warrant exercise price is
also subject to anti-dilution adjustments under certain circumstances.
Cashless
Exercise
If,
at any time during the term of the warrants, the issuance of shares of common stock upon exercise of the warrants is not covered by an
effective registration statement, the holder is permitted to effect a cashless exercise of the warrants (in whole or in part) by having
the holder deliver to us a duly executed exercise notice, canceling a portion of the warrant in payment of the purchase price payable
in respect of the number of shares of common stock purchased upon such exercise.
Failure
to Timely Deliver Shares
If
we fail for any reason to deliver to the holder the shares subject to an exercise by the date that is the earlier of (i) two (2) trading
days and (ii) the number of trading days that is the standard settlement period on our primary trading market as in effect on the date
of delivery of the exercise notice, we must pay to the holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of
shares subject to such exercise (based on the daily volume weighted average price of our shares of common stock on the date of the applicable
exercise notice), $10 per trading day (increasing to $20 per trading day on the fifth (5
th
) trading day after such liquidated
damages begin to accrue) for each trading day after such date until such shares are delivered or the holder rescinds such exercise. In
addition, if after such date the holder is required by its broker to purchase (in an open market transaction or otherwise) or the holder's
brokerage firm otherwise purchases, shares of common stock to deliver in satisfaction of a sale by the holder of the shares which the
holder anticipated receiving upon such exercise, then we shall (A) pay in cash to the holder the amount, if any, by which (x) the holder's
total purchase price (including brokerage commissions, if any) for the shares of common stock so purchased exceeds (y) the amount obtained
by multiplying (1) the number of shares that we were required to deliver to the holder in connection with the exercise at issue times
(2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the holder, either
reinstate the portion of the warrant and equivalent number of shares for which such exercise was not honored (in which case such exercise
shall be deemed rescinded) or deliver to the holder the number of shares of common stock that would have been issued had we timely complied
with our exercise and delivery obligations.
Exercise
Limitation
A
holder will not have the right to exercise any portion of a warrant if the holder (together with its affiliates) would beneficially own
in excess of 4.99% of the number of 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 warrants. However, any holder may increase or decrease such percentage to
any other percentage not in excess of 9.99%, provided that any increase in such percentage shall not be effective until 61 days following
notice from the holder to us.
Exchange
Listing
We
have applied to list our warrants on The Nasdaq Capital Market under the symbol "OPHVW."
Rights
as a Shareholder
Except
as otherwise provided in the warrants or by virtue of such holder's ownership of our shares of common stock, the holder of a warrant
does not have the rights or privileges of a holder of our shares of common stock, including any voting rights, until the holder exercises
the warrant.
Governing
Law and Jurisdiction
The
warrant agent agreement and warrant provide that the validity, interpretation, and performance of the warrant agent agreement and the
warrants will be governed by the laws of the State of New York, without giving effect to conflicts of law principles that would result
in the application of the substantive laws of another jurisdiction. In addition, the warrant agent agreement and warrant provide that
any action, proceeding or claim against any party arising out of or relating to the warrant agent agreement or the warrants must be brought
and enforced in the state and federal courts sitting in the City of New York, Borough of Manhattan. Investors in this offering will be
bound by these provisions. However, we do not intend that the foregoing provisions would apply to actions arising under the Securities
Act or the Exchange Act.
Representative's
Warrants
We
have agreed to issue to the Representative of the underwriters warrants to purchase up to a total of
         shares of common stock (     % of the number of shares of
common stock sold in this offering), assuming an initial public offering price of $      per unit (which is
the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus). The warrants
will be exercisable at any time, and from time to time, in whole or in part, during the four and a half-year period commencing six
months from the effective date of the offering, which period shall not extend further than five years from the effective date of the
offering. The warrants will provide for a one-time demand registration right and unlimited piggyback rights. See
"
Underwriting—Representative's Warrants
" below for a description of the representative's
warrants.
Options
Jonathan
Destler, our Chief Executive Officer, holds an option, dated March 21, 2021, to purchase 4,000,000 shares of common stock, at $2.00 per
share, under the Company's 2016 Equity Incentive Plan. The option will vest and become exercisable over a four (4) year vesting
period, 83,333 option shares vest and become exercisable each month, beginning on May 1, 2021. This option shall expire on April 1, 2031
,
and survive termination of the Mr. Destler's amended employment agreement dated March 21, 2021.
81
Steve
Handy, our Chief Financial Officer and Director of Operations, holds an option, dated May 17, 2021, to purchase 300,000 shares of common
stock, at $2.00 per share, under the Company's 2016 Equity Incentive Plan. The option will vest and become exercisable over a twelve
(12) month vesting period such that 1/12 of the total number of option shares will vest and become exercisable on each monthly anniversary.
Mr. Handy, also holds an option, dated May 9, 2022, to purchase 100,000 shares of common stock, at $2.00 per share, under the Company's
2022 Stock Incentive Plan. The option will vest and become exercisable over a twenty four (24) month vesting period such that
1/24 of the total number of option shares will vest and become exercisable on each monthly anniversary. Vesting is of both options is
contingent upon Mr. Handy's continued employment with the Company.
As
of June 30, 2022, we had total outstanding options to purchase up to 4,540,000 shares of common stock at a weighted average exercise
price of $2.00 per share.
Registration
Rights Agreement
Pursuant
to an Investors' Rights Agreement by and between us and certain investors, we are obligated to register for resale that number
of shares of common stock underlying Senior Convertible Promissory Notes and equal number of shares of common stock underlying Warrants,
offered and sold pursuant to certain Note and Warrant Purchase Agreements, dated as of October 7, 2021. We must register such shares
upon our first underwritten public offering that is made under an effective registration statement under the Securities Act, covering
the offer and sale of not less than $10,000,000 of our equity securities, as a result of or following which we become a reporting issuer
under the Exchange Act and our common stock is listed on the Nasdaq Stock Market.
Transfer
Agent and Registrar
Our
transfer agent is Colonial Stock Transfer Company, Inc. ("Colonial Stock Transfer"). Their address is 2469 Fort Union Blvd
#214, Cottonwood Heights, Utah 84121. Colonial Stock Transfer's telephone number is (801) 355-5740.
Indemnification
of Officers and Directors
We
have authority under the General Corporation Law of the State of Delaware to indemnify our directors and officers to the extent provided
in that statute. Our Certificate of Incorporation and our Bylaws require the company to indemnify each of our directors and officers
against liabilities imposed upon them (including reasonable amounts paid in settlement) and expenses incurred by them in connection with
any claim made against them or any action, suit or proceeding to which they may be a party by reason of their being or having been a
director or officer of the company. We intend to enter into indemnification agreements with each of our officers and directors containing
provisions that may require us, among other things, to indemnify our officers and directors against certain liabilities that may arise
by reason of their status or service as officers or directors (other than liabilities arising from willful misconduct of a culpable nature)
and to advance their expenses incurred as a result of any proceeding against them as to which they could be indemnified. Management believes
that such indemnification provisions and agreements are necessary to attract and retain qualified persons as directors and executive
officers.
Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to our directors, officers and controlling
persons pursuant to the foregoing provisions or otherwise, we have been advised that in the opinion or the Securities and Exchange Commission,
such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.
82
Anti-Takeover
Provisions
Certificate
of Incorporation and Bylaws
Because
our stockholders do not have cumulative voting rights, directors shall be elected by a plurality of the voting power of the shares present
in person or represented by proxy at a meeting of the stockholders and entitled to vote on the election of directors, subject to Series
A preferred stock voting rights. A special meeting of stockholders may be called the majority of our whole board of directors, Chairperson
of the Board, Chief Executive Officer or President (in the absence of a Chief Executive Officer) or by one or more stockholders holding
shares in the aggregate entitled to cast not less than 10% of the votes at that meeting.
The
foregoing provisions will make it more difficult for our existing stockholders to replace our board of directors as well as for another
party to obtain control of us by replacing our board of directors. Since our board of directors has the power to retain and discharge
our officers, these provisions could also make it more difficult for existing stockholders or another party to effect a change in management.
In addition, the authorization of undesignated preferred stock makes it possible for our board of directors to issue preferred stock
with voting or other rights or preferences that could impede the success of any attempt to change our control.
These
provisions are intended to enhance the likelihood of continued stability in the composition of our board of directors and its policies
and to discourage certain types of transactions that may involve an actual or threatened acquisition of us. These provisions are also
designed to reduce our vulnerability to an unsolicited acquisition proposal and to discourage certain tactics that may be used in proxy
fights. However, such provisions could have the effect of discouraging others from making tender offers for our shares and may have the
effect of deterring hostile takeovers or delaying changes in our control or management. As a consequence, these provisions also may inhibit
fluctuations in the market price of our stock that could result from actual or rumored takeover attempts.
Section
203 of the Delaware General Corporation Law
We
are subject to Section 203 of the Delaware General Corporation Law, which prohibits a Delaware corporation from engaging in any business
combination with any interested stockholder for a period of three years after the date that such stockholder became an interested stockholder,
with the following exceptions:
●
before
    such date, the board of directors of the corporation approved either the business combination or the transaction that resulted in
    the stockholder becoming an interested stockholder;
●
upon
    closing of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned
    at least 85% of the voting stock of the corporation outstanding at the time the transaction began, excluding for purposes of determining
    the voting stock outstanding (but not the outstanding voting stock owned by the interested stockholder) those shares owned by (i)
    persons who are directors and also officers and (ii) employee stock plans in which employee participants do not have the right to
    determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or
●
on
    or after such date, the business combination is approved by the board of directors and authorized at an annual or special meeting
    of the stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock that
    is not owned by the interested stockholder.
In
general, Section 203 defines business combination to include the following:
●
any
    merger or consolidation involving the corporation and the interested stockholder;
●
any
    sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder;
●
subject
    to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation
    to the interested stockholder;
●
any
    transaction involving the corporation that has the effect of increasing the proportionate share of the stock or any class or series
    of the corporation beneficially owned by the interested stockholder; or
●
the
    receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits by or
    through the corporation.
In
general, Section 203 defines an "interested stockholder" as an entity or person who, together with the person's affiliates
and associates, beneficially owns, or within three years prior to the time of determination of interested stockholder status did own,
15% or more of the outstanding voting stock of the corporation.
83
SHARES
ELIGIBLE FOR FUTURE SALE
Prior
to this offering, there has been no public market for our securities. Future sales of our common stock in the public market, including
shares issued upon the conversion of convertible notes, the exercise of outstanding options and warrants, or the availability of such
shares for sale in the public market, could adversely affect market prices prevailing from time to time.
Based
on the number of shares outstanding as of , 2022, immediately following the closing of this offering, we will have
    shares of common stock issued and outstanding, assuming no exercise of the warrants being offered in this
offering, assuming no exercise of outstanding options, warrants and convertible notes, and assuming an initial public offering price
of $     per unit (which is the midpoint of the estimated range of the initial public offering price shown on the cover page of this
prospectus). In the event the underwriters exercise the over-allotment option to purchase additional shares of common stock and/or
warrants in full, we will have shares of common stock issued and outstanding. The common stock sold in this offering will be freely
tradable without restriction or further registration or qualification under the Securities Act.
As
described below, only a limited number of shares will be available for sale shortly after this offering due to contractual and legal
restrictions on resale. Nevertheless, sales of our common stock in the public market after such restrictions lapse, or the perception
that those sales may occur, could adversely affect the prevailing market price at such time and our ability to raise equity capital in
the future.
Subject
to lockup restrictions, previously issued shares of common stock that were not offered and sold in this offering, as well as shares issuable
upon the exercise of outstanding warrants or conversion of outstanding convertible notes and subject to employee stock options, are or
will be upon issuance, "restricted securities," as that term is defined in Rule 144 under the Securities Act. These restricted
securities are eligible for public sale only if such public resale is registered under the Securities Act or if the resale qualifies
for an exemption from registration under Rule 144 or Rule 701 under the Securities Act, which are summarized below.
Rule
144
In
general, a person who has beneficially owned restricted stock for at least six months would be entitled to sell their securities provided
that (i) such person is not deemed to have been one of our affiliates at the time of, or at any time during the 90 days preceding, a
sale and (ii) we are subject to the Securities Exchange Act of 1934, as amended, or the Exchange Act, periodic reporting requirements
for at least 90 days before the sale. Persons who have beneficially owned restricted shares for at least six months but who are our affiliates
at the time of, or any time during the 90 days preceding, a sale, would be subject to additional restrictions, by which such person would
be entitled to sell within any three-month period only a number of securities that does not exceed the greater of either of the following:
●
1%
    of the number of shares then outstanding, which will equal approximately shares of common stock immediately after this offering,
    assuming no exercise of the underwriters' option, assuming no exercise of the warrants being offered in this offering, assuming
    no exercise of outstanding options, warrants and convertible notes, and assuming an initial public offering price of $ per unit (which
    is the midpoint of the estimated range of the initial public offering price shown on the cover page of this prospectus); or
●
the
    average weekly trading volume of our common stock on The Nasdaq Capital Market during the four calendar weeks preceding the filing
    of a notice on Form 144 with respect to the sale;
provided,
in each case, that we are subject to the Exchange Act periodic reporting requirements for at least 90 days before the sale. Such sales
both by affiliates and by non-affiliates must also comply with the manner of sale, current public information and notice provisions of
Rule 144.
Rule
701
Rule
701 under the Securities Act, as in effect on the date of this prospectus, permits resales of shares in reliance upon Rule 144 but without
compliance with certain restrictions of Rule 144, including the holding period requirement. Most of our employees, executive officers
or directors who purchased shares under a written compensatory plan or contract may be entitled to rely on the resale provisions of Rule
701, but all holders of Rule 701 shares are required to wait until 90 days after the date of this prospectus before selling their shares.
84
Each
prospective investor should consult its tax advisor regarding the particular U.S. federal, state and local and non-U.S. tax consequences
of purchasing, holding and disposing of our common stock, including the consequences of any proposed change in applicable laws
.
UNDERWRITING
WestPark
Capital, Inc., or WestPark Capital, is acting as the representative of the underwriters of this offering. Under the terms of an underwriting
agreement, which is filed as an exhibit to the registration statement, each of the underwriters named below has severally agreed to purchase
from us the respective number of shares of common stock shown opposite its name below:
Commissions
and Expenses
The
following table shows the public offering price, underwriting discount and proceeds, before expenses, to us. The information assumes
either no exercise or full exercise by the underwriters of their over-allotment option.
Number
    of
Units
(1)
Westpark
    Capital
Total
The
underwriting agreement provides that the underwriters' obligation to purchase Units depends on the satisfaction of the conditions
contained in the underwriting agreement including:
●
the
                                            representations and warranties made by us to the underwriters are true;
●
there
                                            is no material change in our business or the financial markets; and
●
we
                                            deliver customary closing documents to the underwriters.
(1)
At
                                            the assumed initial public offering price of $        per share (which is the midpoint
                                            of the estimated range of the initial public offering price shown on the cover page of this
                                            prospectus).
The
underwriters are committed to purchase, severally and not jointly, all of the units offered by us, other than those covered by the over-allotment
option described below, if they purchase any units. The obligations of the underwriters may be terminated upon the occurrence of certain
events specified in the underwriting agreement. Furthermore, pursuant to the underwriting agreement, the underwriters' obligations
are subject to customary conditions, representations and warranties contained in the underwriting agreement, such as receipt by the underwriters
of officers' certificates and legal opinions.
We
have agreed to indemnify the underwriters against specified liabilities, including liabilities under the Securities Act, and to contribute
to payments the underwriters may be required to make in respect thereof.
The
underwriters are offering the units, subject to prior sale, when, as and if issued to and accepted by them, subject to approval of legal
matters by their counsel and other conditions specified in the underwriting agreement. The underwriters reserve the right to withdraw,
cancel or modify offers to the public and to reject orders in whole or in part.
Over-Allotment
Option
We
have granted the underwriters an over-allotment option. This option, which is exercisable for up to 45 days, permits the underwriters
to purchase up to an aggregate of additional shares of common stock (equal to 15% of the shares of common stock sold in the offering)
and/or additional warrants to purchase shares of common stock (equal to 15% of the warrants sold in the offering) at the assumed initial
public offering price of $       per share (which is the midpoint of the estimated range of the initial public offering price shown
on the cover page of this prospectus), less underwriting discounts and commissions, solely to cover over-allotments, if any.
Discounts,
Commissions and Reimbursement
The
following table shows the public offering price, underwriting discounts and commissions to be paid to the underwriters, and proceeds,
before expenses, to us. Such amounts are shown assuming both no exercise and full exercise of the underwriters' option to purchase
additional shares.
Total
Per
    Unit
(1)
Without
    Option
With
    Option
Public
    offering price
$
$
$
Underwriting
    discounts and commissions (8%)
$
$
$
Non-accountable
    expense allowance (1%)
$
$
$
Proceeds,
    before expenses, to us
$
$
$
(1)
At
    the assumed initial public offering price of $ per share (which is the midpoint of the estimated range of the initial public offering
    price shown on the cover page of this prospectus).
The
underwriters propose to offer the units to the public at the initial public offering price set forth on the cover of this prospectus.
In addition, the underwriters may offer some of the units to securities dealers at the public offering price less a concession of $ per
share. If all of the units offered by us are not sold at the initial public offering price, the Representative may change the offering
price and other selling terms.
85
We
have also agreed to pay all expenses relating to the offering, including: (a) all filing fees and expenses relating to the registration
of the units, and shares of common stock and warrants underlying the units, with the SEC; (b) all fees and expenses relating to the listing
of the shares on Nasdaq; (c) all fees, expenses and disbursements relating to the registration, qualification or exemption of the shares
offered under "blue sky" securities laws or the securities laws of other jurisdictions designated by the Representative,
including the reasonable fees and expenses of the Representative's blue sky counsel; (d) all fees, expenses and disbursements relating
to the registration, qualification or exemption of the shares under the securities laws of such foreign jurisdictions; (e) the costs
of mailing and printing the offering materials; (f) transfer and/or stamp taxes, if any, payable upon our transfer of the shares to the
Representative, as well as fees and expenses of the warrant agent under the Warrant Agency Agreement; (g) FINRA filing fee, the fees
and expenses of our accountants; and (h) a maximum of $150,000 for actual accountable expenses of the Representative, which amount includes
expenses for the Representative's legal counsel and road show expenses. We will also pay to the representative by deduction from
the net proceeds of this offering, a non-accountable expense allowance equal to 1% of the gross proceeds received by us from the sale
of our securities in this offering.
We
have paid a $50,000 advance to the Representative, which will be applied against actual out-of-pocket-accountable expenses, which will
be returned to us to the extent such out-of-pocket accountable expenses are not actually incurred in accordance with FINRA Rule 5110(g)(4)(A).
We
estimate that the total expenses of the offering payable by us, excluding the total underwriting discount, will be approximately $      .
Representative's
Warrants
We
have agreed to issue to the Representative warrants to purchase up to a total of shares of common stock (3% of the number of units sold
in this offering). The warrants will be exercisable at any time, and from time to time, in whole or in part, during the four and a half-year
period commencing six months from the effective date of the offering, which period shall not extend further than five years from the
effective date of the offering in compliance with FINRA Rule 5110(g)(8)(A). The warrants are exercisable at a per share price equal to
125% of the initial public offering price per share in the offering. The warrants have been deemed compensation by FINRA and are therefore
subject to a 180-day lock-up pursuant to Rule 5110(g)(1) of FINRA. The Representative (or permitted assignees under Rule 5110(e)(1))
will not sell, transfer, assign, pledge, or hypothecate these warrants or the securities underlying these warrants, nor will they engage
in any hedging, short sale, derivative, put, or call transaction that would result in the effective economic disposition of the warrants
or the underlying securities for a period of 180 days from the date of this prospectus. The warrants will provide for cashless exercise
and customary anti-dilution provisions (for share dividends, splits, and recapitalizations and the like) consistent with FINRA Rule 5110(g)(8),
and the number of shares underlying the warrants shall be reduced, or the exercise price increased, if necessary, to comply with FINRA
rules or regulations. Further, the warrants will provide for a one-time demand registration right, which will terminate on the fifth
anniversary of the effective date of this offering, and unlimited piggyback rights, which will terminate on the seventh anniversary of
the effective date of the offering.
Right
of First Refusal and Tail Financing
For
a period of eighteen (18) months from the closing date, the Representative has a right of first refusal to act as sole investment banker,
sole book running manager and/or placement agent, at its sole discretion, for each and every of our future public and private equity
and debt offering, including all equity linked financings, for us, or any of our successors or subsidiaries, on terms customary to the
Representative. The Representative, in conjunction with us, has the sole right to determine whether or not any other broker-dealer shall
have the right to participate in any such offering and the economic terms of any such participation.
In
the event this offering is not consummated, the Representative will also be entitled to a cash fee of 8% of the equity gross proceeds
received by us and 4% of the debt from the sale of any debt instruments with respect to any public or private sale of equity or debt
securities, referred to as "Tail Financing," to the extent that such financing or capital is provided to us by investors
whom the Representative introduced to us during the term of our engagement agreement with the Representative, or if such Tail Financing
is consummated at any time within the 12-month period following the expiration or termination of such agreement.
86
Market
Information
Prior
to this offering, there has been no public market for shares of our common stock. The initial public offering price will be determined
by negotiations between us and the representatives of the underwriters. In addition to prevailing market conditions, the factors to be
considered in these negotiations will include:
●
the
    history of, and prospects for, our company and the industry in which we compete;
●
our
    past and present financial information;
●
an
    assessment of our management; its past and present operations, and the prospects for, and timing of, our future revenues;
●
the
    present state of our development; and
●
the
    above factors in relation to market values and various valuation measures of other companies engaged in activities similar to ours.
An
active trading market for the shares may not develop. It is also possible that after the offering the shares will not trade in the public
market at or above the initial public offering price.
We
have applied to list our common stock on the Nasdaq Capital Market under the symbol "OPHV."
The
underwriters do not intend to confirm sales of the securities offered hereby to any accounts over which they have discretionary authority.
Lock-Up
Agreements
Our
executive officers and directors, and certain of our stockholders have agreed not to, without the prior written consent of the Representative,
directly or indirectly, offer to sell, sell, pledge or otherwise transfer or dispose of any of shares of our common stock (or enter into
any transaction or device that is designed to, or could be expected to, result in the transfer or disposition by any person at any time
in the future of our common stock), enter into any swap or other derivatives transaction that transfers to another, in whole or in part,
any of the economic benefits or risks of ownership of shares of our common stock, make any demand for or exercise any right or cause
to be filed a registration statement, including any amendments thereto, with respect to the registration of any shares of common stock
or securities convertible into or exercisable or exchangeable for shares of common stock or any other of our securities or publicly disclose
the intention to do any of the foregoing, subject to customary exceptions, for a period of 180 days from the date of this prospectus.
No
Sales of Similar Securities
We
have agreed not to offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to
sell, grant any option, right or warrant to purchase or otherwise transfer or dispose of, directly or indirectly, any shares of capital
stock or any securities convertible into or exercisable or exchangeable for shares of capital stock or enter into any swap or other agreement
that transfers, in whole or in part, any of the economic consequences of ownership of our shares of capital stock, whether any such transaction
is to be settled by delivery of shares of capital stock or such other securities, in cash or otherwise, without the prior written consent
of the Representative, for a period of 180 days from the date of this prospectus.
Electronic
Offer, Sale and Distribution of Shares
A
prospectus in electronic format may be made available on the websites maintained by one or more of the underwriters or selling group
members. The Representative may agree to allocate a number of shares of common stock to the underwriters and selling group members for
sale to their online brokerage account holders. Internet distributions will be allocated by the underwriters and selling group members
that will make Internet distributions on the same basis as other allocations. Other than the prospectus in electronic format, the information
on these websites is not part of, nor incorporated by reference into, this prospectus or the registration statement of which this prospectus
forms a part, has not been approved or endorsed by us, and should not be relied upon by investors.
87
Stabilization
In
connection with this offering, the underwriters may engage in stabilizing transactions, over-allotment transactions, syndicate-covering
transactions, penalty bids and purchases to cover positions created by short sales.
●
Stabilizing
    transactions permit bids to purchase securities so long as the stabilizing bids do not exceed a specified maximum and are engaged
    in for the purpose of preventing or retarding a decline in the market price of the securities while the offering is in progress.
●
Over-allotment
    transactions involve sales by the underwriters of securities in excess of the number of securities the underwriters are obligated
    to purchase. This creates a syndicate short position which may be either a covered short position or a naked short position. In a
    covered short position, the number of securities over-allotted by the underwriters is not greater than the number of securities that
    they may purchase in the over-allotment option. In a naked short position, the number of securities involved is greater than the
    number of securities in the over-allotment option. The underwriters may close out any short position by exercising its over-allotment
    option and/or purchasing securities in the open market.
●
Syndicate
    covering transactions involve purchases of securities in the open market after the distribution has been completed in order to cover
    syndicate short positions. In determining the source of the securities to close out the short position, the underwriters will consider,
    among other things, the price of securities available for purchase in the open market as compared with the price at which they may
    purchase securities through exercise of the over-allotment option. If the underwriters sell more securities than could be covered
    by exercise of the over-allotment option and, therefore, have a naked short position, the position can be closed out only by buying
    securities in the open market. A naked short position is more likely to be created if the underwriters are concerned that after pricing
    there could be downward pressure on the price of the securities in the open market that could adversely affect investors who purchase
    in the offering.
●
Penalty
    bids permit the Representative to reclaim a selling concession from a syndicate member when the securities originally sold by that
    syndicate member are purchased in stabilizing or syndicate covering transactions to cover syndicate short positions.
These
stabilizing transactions, over-allotment transactions, syndicate covering transactions and penalty bids may have the effect of raising
or maintaining the market price of our securities or preventing or retarding a decline in the market price of our securities. As a result,
the price of our securities in the open market may be higher than it would otherwise be in the absence of these transactions. Neither
we nor the underwriters make any representation or prediction as to the effect that the transactions described above may have on the
price of our securities. These transactions may be effected on the Nasdaq Capital Market, in the over-the-counter market or otherwise
and, if commenced, may be discontinued at any time.
Passive
Market Making
In
connection with this offering, underwriters and selling group members may engage in passive market making transactions in our securities
on the Nasdaq Capital Market in accordance with Rule 103 of Regulation M under the Exchange Act, during a period before the commencement
of offers or sales of the shares and extending through the completion of the distribution. A passive market maker must display its bid
at a price not in excess of the highest independent bid of that security. However, if all independent bids are lowered below the passive
market maker's bid, then that bid must then be lowered when specified purchase limits are exceeded.
88
Certain
Relationships
The
underwriters and their affiliates [have provided], or may in the future provide, various investment banking, commercial banking, financial
advisory, brokerage or other services to us and our affiliates for which services they [have received], and may in the future receive,
customary fees and expense reimbursement.
The
underwriters and their affiliates may, from time to time, engage in transactions with and perform services for us in the ordinary course
of our business for which they may receive customary fees and reimbursements of expenses. In the ordinary course of their various business
activities, the underwriters and their 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 accounts and for the accounts of their
customers and such investment and securities activities may involve our securities and/or instruments. The underwriters and their affiliates
may also make investment recommendations 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.
Offer
Restrictions Outside the United States
Other
than in the United States, no action has been taken by us or the underwriters that would permit a public offering of the securities offered
by this prospectus in any jurisdiction where action for that purpose is required. The securities offered by this prospectus may not be
offered or sold, directly or indirectly, nor may this prospectus or any other offering material or advertisements in connection with
the offer and sale of any such securities be distributed or published in any jurisdiction, except under circumstances that will result
in compliance with the applicable rules and regulations of that jurisdiction. Persons into whose possession this prospectus comes are
advised to inform themselves about and to observe any restrictions relating to 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.
89
LEGAL
MATTERS
The
validity of the issuance of our units, common stock and warrants offered in this prospectus will be passed upon for us by Law Offices
of Thomas Puzzo, PLLC. Certain legal matters as to the New York law in connection with this offering will be passed upon for us by Clark
Hill PLC. Blank Rome LLP is acting as counsel for the Representative of the underwriters with respect to the offering.
EXPERTS
The
financial statements included in this prospectus for the years ended December 31, 2021 and 2020 have been audited by Weinberg & Company,
P.A., and are included in reliance upon such report given upon the authority of said firm as experts in auditing and accounting.
WHERE
YOU CAN FIND MORE INFORMATION
We
have filed with the Securities and Exchange Commission, or the SEC, a registration statement on Form S-1 under the Securities Act of
1933, as amended, with respect to the securities offered by this prospectus. This prospectus does not contain all of the information
included in the registration statement. For further information pertaining to us and our units to be sold in this offering, you should
refer to the registration statement and to its exhibits. Statements contained in this prospectus regarding the contents of any contract
or any other document that is filed as an exhibit to the registration statement are not necessarily complete, and each such statement
is qualified in all respects by reference to the full text of such contract or other document filed as an exhibit to the registration
statement.
Upon
the closing of the offering, we will be subject to the informational requirements of the Exchange Act and will file annual, quarterly
and current reports, proxy statements and other information with the SEC. You can read our SEC filings, including the registration statement,
at the SEC's website at www.sec.gov. We also maintain a website at www.opti
-harvest.com
. Upon completion of the offering,
you may access, free of charge, our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendment
to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as reasonably practicable after such
material is 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.
90
Index
to Financial Statements
Contents
Page(s)
Report of Independent Registered Public Accounting Firm–Weinberg & Company, P.A.
F-2
Balance Sheets as of December 31, 2021 and 2020
F-3
Statements of Operations for the years ended December 31, 2021 and 2020
F-4
Statements
    of Shareholders' Equity (Deficit) for the years ended December 31, 2021 and 2020
F-5
Statements of Cash Flows for the years ended December 31, 2021 and 2020
F-6
Notes to Financial Statements
F-7
Condensed Balance Sheets as of June 30, 2022 (unaudited) and December 31, 2021
F-27
Condensed Statements of Operations for the three and six months ended June 30, 2022 and 2021 (unaudited)
F-28
Condensed
    Statements of Shareholders' Equity (Deficit) for the three and six months ended June 30, 2022 and 2020 (unaudited)
F-29
Condensed Statements of Cash Flows for the six months ended June 30, 2022 and 2021 (unaudited)
F-30
Notes to Condensed Financial Statements
F-31
F-
1
INDEPENDENT
AUDITOR'S REPORT
To
the Stockholders and Board of Directors
Opti-Harvest,
Inc.
Los
Angeles, California
Opinion
on the Financial Statements
We
have audited the accompanying balance sheets of Opti-Harvest, Inc. (the "Company") as of December 31, 2021 and 2020, the
related statements of operations, changes in shareholders' equity (deficit), and cash flows for the years then ended and the related
notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly,
in all material respects, the financial position of the Company as of December 31, 2021 and 2020, and the results of its operations and
its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.
Going
Concern
The
accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note
1, the Company experienced a net loss and utilized cash from operations during the year ended December 31, 2021. These matters raise
substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters
are also described in Note 1 to the financial statements. These financial statements do not include any adjustments that might result
from the outcome of this uncertainty.
Basis
for Opinion
These
financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's
financial statements based on our audits. We are a public accounting firm registered with the Public Accounting Oversight Board (United
States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities
laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits,
we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion
on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.
Our
audits included performing procedures to assess the risks of material misstatement, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the
financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management,
as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for
our opinion.
/s/
Weinberg & Company, P.A.
Los
Angeles, California
February
28, 2022
We
have served as the Company's auditor since 2021.
F-
2
OPTI-HARVEST,
INC.
BALANCE
SHEETS
(Amounts
rounded to nearest thousands, except share amounts)
December
    31, 2021
December
    31, 2020
ASSETS
Current
    Assets:
Cash
$
1,715,000
$
403,000
Accounts
    receivable
18,000
1,000
Prepaid
    expense and other current assets
87,000
-
Total
    Current Assets
1,820,000
404,000
Property
    and equipment, net of accumulated depreciation of $
577,000
and $
278,000
, respectively
1,158,000
363,000
Deposits
    on purchase of equipment
277,000
-
Deferred
    offering costs
186,000
-
Total
    Assets
$
3,441,000
$
767,000
LIABILITIES
    AND SHAREHOLDERS' EQUITY (DEFICIT)
Current
    Liabilities:
Accounts
    payable and accrued expenses
$
986,000
$
618,000
Convertible
    notes payable, net of debt discount of $
2,326,000
and $
0
, respectively
1,265,000
-
Current
    portion of loan payable
8,000
7,000
Patent
    purchase obligation
-
100,000
Total
    Current Liabilities
2,259,000
725,000
Loan
    payable, less current portion
25,000
33,000
Note
    payable
-
38,000
Total
    Liabilities
2,284,000
796,000
Commitments
    and Contingencies
Shareholders'
    Equity (Deficit)
Preferred
    stock, $
0.0001
par value,
1,000,000
shares authorized;
1
share of Series A issued and outstanding at December 31, 2021 and 2020,
    respectively
-
-
Common
    stock, $
0.0001
par value,
100,000,000
shares authorized;
32,405,146
and
28,956,158
shares issued and outstanding at December 31,
    2021 and 2020, respectively
3,000
3,000
Additional
    paid-in-capital
20,344,000
9,105,000
Accumulated
    deficit
(
19,190,000
)
(
9,137,000
)
Total
    Shareholders' Equity (Deficit)
1,157,000
(
29,000
)
Total
    Liabilities and Shareholders' Equity (Deficit)
$
3,441,000
$
767,000
The
accompanying notes are an integral part of these financial statements.
F-
3
OPTI-HARVEST,
INC.
STATEMENTS
OF OPERATIONS
For
the Years Ended December 31, 2021 and 2020
(Amounts
rounded to nearest thousands, except share and per share amounts)
Years Ended December 31,
2021
2020
Net Sales
$
40,000
$
20,000
Cost of goods sold
102,000
115,000
Gross loss
(
62,000
)
(
95,000
)
Operating expenses:
Selling, general and administrative expense
6,591,000
1,467,000
Research and development expense
2,621,000
1,680,000
Amortization of intangible assets
-
42,000
Total operating expenses
9,212,000
3,189,000
Loss from operations
(
9,274,000
)
(
3,284,000
)
Interest expense
(
817,000
)
-
Gain on forgiveness of SBA PPP loan
38,000
-
Net Loss
$
(
10,053,000
)
$
(
3,284,000
)
Loss per share – basic and diluted
$
(
0.32
)
$
(
0.12
)
Weighted average number of shares outstanding – basic and diluted
30,970,657
27,621,029
The
accompanying notes are an integral part of these financial statements.
F-
4
OPTI-HARVEST,
INC.
STATEMENTS
OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT)
For
the Years Ended December 31, 2021 and 2020
(Amount
rounded to nearest thousands, except share amount)
Common Stock
Preferred Stock
Additional Paid In
Accumulated
Total
Shareholders' Equity
Shares
Amount
Shares
Amount
Capital
Deficit
(Deficit)
Balance, December 31, 2019
27,629,408
$
3,000
1
$
-
$
6,477,000
$
(
5,853,000
)
$
627,000
Fair value of common shares issued for services
57,500
115,000
115,000
Common shares issued in private offerings
1,269,250
-
-
2,513,000
-
2,513,000
Net Loss
(
3,284,000
)
(
3,284,000
)
Balance, December 31, 2020
28,956,158
3,000
1
-
9,105,000
(
9,137,000
)
(
29,000
)
Fair value of vested options and warrants issued for services
1,768,000
1,768,000
Fair value of warrants recorded as debt discount
-
2,482,000
2,482,000
Fair value of common shares issued for services
851,488
1,744,000
1,744,000
Common shares and warrants issued in private offerings
2,597,500
-
-
5,245,000
-
5,245,000
Net Loss
(
10,053,000
)
(
10,053,000
)
Balance, December 31, 2021
32,405,146
$
3,000
1
$
-
$
20,344,000
$
(
19,190,000
)
$
1,157,000
The
accompanying notes are an integral part of these financial statements.
F-
5
OPTI-HARVEST,
INC.
STATEMENTS
OF CASH FLOWS
For
the Years Ended December 31, 2021 and 2020
(Amounts
rounded to nearest thousands)
Years Ended December 31,
2021
2020
Cash Flows from Operating Activities
Net loss
$
(
10,053,000
)
$
(
3,284,000
)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation
299,000
265,000
Amortization of intangible assets
-
42,000
Amortization of debt discount
713,000
-
Increase in inventory reserves
60,000
-
Fair value of common stock issued for services
1,744,000
115,000
Fair value of vested options and warrants
1,768,000
-
Gain on forgiveness of SBA PPP loan
(
38,000
)
-
Changes in operating assets and liabilities
Accounts receivable
(
17,000
)
(
1,000
)
Inventory
(
60,000
)
-
Prepaid expenses and other current assets
(
87,000
)
-
Accounts payable and accrued expenses
368,000
359,000
Net cash used in operating activities
(
5,303,000
)
(
2,504,000
)
Cash Flows from Investing Activities
Purchase of property and equipment
(
20,000
)
(
390,000
)
Deposits on purchase of equipment
(
1,351,000
)
-
Net cash used in investing activities
(
1,371,000
)
(
390,000
)
Cash Flows from Financing Activities
Proceeds from sale of common stock and warrants
5,245,000
2,513,000
Proceeds from convertible notes payable
3,034,000
-
Proceeds from note payable
-
38,000
Deferred offering costs
(
186,000
)
-
Repayment of loans payable
(
7,000
)
-
Repayment of patent purchase obligation
(
100,000
)
-
Repayment of related parties
-
68,000
Net cash provided by financing activities
7,986,000
2,619,000
Net increase (decrease) in cash
1,312,000
(
275,000
)
Cash beginning of period
403,000
678,000
Cash end of period
$
1,715,000
$
403,000
Supplemental disclosures of cash flow information:
Cash paid for interest
$
3,000
$
-
Cash paid for income taxes
$
-
$
-
Noncash financing and investing activities:
Fair value of warrants recorded as a debt discount
$
2,482,000
$
-
Transfer of deposits on purchase of equipment to property and equipment
$
1,074,000
$
-
Issuance of loan payable for vehicle purchase
$
-
$
40,000
The
accompanying notes are integral part of these financial statements.
F-
6
OPTI-HARVEST,
INC.
NOTES
TO FINANCIAL STATEMENTS
For
the Years Ended December 31, 2021 and 2020
(Amounts
rounded to nearest thousands, except share and per share amounts)
Note
1 –
Operations and Liquidity
Opti-Harvest,
Inc. ("Opti-Harvest" or "the Company") is an agricultural innovation company with products backed by a portfolio
of patented and patent pending technologies focused on solving several critical challenges faced by agribusinesses: maximizing crop yield,
accelerating crop growth, optimizing land and water resources, reducing labor costs and mitigating negative environmental impacts.
Our
advanced agriculture technology (Opti-Filter™) and precision farming (Opti-View™) platforms, enable commercial growers and
home gardeners to harness, optimize and better utilize sunlight, the planet's most fundamental and renewable natural resource.
Our
sustainable agricultural technology platform is powered by the sun. It maximizes a free and renewable resource with no need for additional
chemicals or fertilizers.
Opti-Harvest
was formed in the State of Delaware on June 20, 2016. Our principal executive offices are located at 1801 Century Park East, Suite 520,
Los Angeles, California 90067. Our website address is www.opti-harvest.com.
COVID-19
Considerations
During
the year ended December 31, 2021, the COVID-19 pandemic did not have a material net impact on the Company's operating results.
In the future, the pandemic may cause reduced demand for the Company's products if, for example, the pandemic results in a recessionary
economic environment which negatively effects the consumers who purchase our products. The Company has not observed any material impairments
of its assets or a significant change in the fair value of its assets due to the COVID-19 pandemic.
The
Company's ability to operate without significant negative operational impact from the COVID-19 pandemic will in part depend on
its ability to protect its employees and its supply chain. The Company has endeavored to follow the recommended actions of government
and health authorities to protect its employees. Since the onset of the COVID-19 pandemic, the Company maintained the consistency of
its operations. However, the uncertainty resulting from the pandemic could result in an unforeseen disruption to its workforce and supply
chain (for example an inability of a key supplier or transportation supplier to source and transport materials) that could negatively
impact the Company's operations.
Going
Concern
The
accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement
of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, during the year
ended December 31, 2021, the Company recorded a net loss of $
10.1
million and used cash in operations of $
5.3
million. These factors
raise substantial doubt about the Company's ability to continue as a going concern within one year after the date of the financial
statements being issued. The ability of the Company to continue as a going concern is dependent upon the Company's ability to raise
additional funds and implement its business plan. The financial statements do not include any adjustments that might be necessary if
the Company is unable to continue as a going concern.
At
December 31, 2021, the Company had cash on hand in the amount of $
1.7
million. The continuation of the Company as a going concern is
dependent upon its ability to obtain necessary debt or equity financing to continue operations until it begins generating positive cash
flow. No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory
to the Company. Even if the Company is able to obtain additional financing, it may contain undue restrictions on our operations, in the
case of debt financing or cause substantial dilution for our stockholders, in case or equity financing.
F-
7
Note
2 –
Significant Accounting Policies
Use
of Estimates
The
preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date
of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ
from those estimates. Those estimates and assumptions include impairment testing of recorded long-term tangible and intangible assets,
the valuation allowance for deferred tax assets, accruals for potential liabilities, assumptions made in valuing stock instruments issued
for services, and assumptions used in the determination of the Company's liquidity.
Inventory
Inventory
is stated at the lower of cost or net realizable value, with cost determined on a first-in, first-out ("FIFO") basis. We
regularly review our inventory quantities on hand and record a provision for excess and obsolete inventory based primarily on our estimated
forecast of product demand and our ability to sell the product(s) concerned. Demand for our products can fluctuate significantly. Factors
that could affect demand for our products include unanticipated changes in consumer preferences, general market conditions or other factors,
which may result in cancellations of advance orders or a reduction in the rate of reorders placed by customers. Additionally, our management's
estimates of future product demand may be inaccurate, which could result in an understated or overstated provision required for excess
and obsolete inventory. At December 31, 2021, the Company fully reserved its inventory balance on hand based on its estimate of obsolete
inventory.
Property
and Equipment
Property
and equipment are stated at cost. Expenditures for major renewals and improvements that extend the useful lives of property and equipment
are capitalized, and expenditures for repairs and maintenance are charged to expense as incurred. Depreciation is calculated using the
straight-line method over the estimated useful lives of the assets as follows:
Property
    and Equipment Type
Years
    of Depreciation
Tool
    and Molds
2
-
3
    years
Vehicle
5
    years
Office
    equipment
3
    years
Management
assesses the carrying value of property and equipment whenever events or changes in circumstances indicate that the carrying value may
not be recoverable. If there is indication of impairment, management prepares an estimate of future cash flows expected to result from
the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment
loss is recognized to write down the asset to its estimated fair value. For the years ended December 31, 2021 and 2020, the Company determined
there were no indicators of impairment of its property and equipment.
Deferred
Offering Costs
Deferred
offering costs consist principally of legal, accounting, and underwriters' fees incurred related to equity financings. These deferred
offering costs are deferred and then charged against the gross proceeds received once the equity financing occurs or are charged to expense
if the financing does not occur.
F-
8
Revenue
Recognition
The
Company recognizes revenue in accordance with Accounting Standards Codification (ASC) 606,
Revenue from Contracts with Customers
("ASC 606"). The underlying principle of ASC 606 is to recognize revenue to depict the transfer of goods or services to customers
at the amount expected to be collected. ASC 606 creates a five-step model that requires entities to exercise judgment when considering
the terms of contract(s), which include (1) identifying the contract or agreement with a customer, (2) identifying our performance obligations
in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance
obligations, and (5) recognizing revenue as each performance obligation is satisfied.
The
Company does not have any significant contracts with customers requiring performance beyond delivery, and contracts with customers contain
no incentives or discounts that could cause revenue to be allocated or adjusted over time. Shipping and handling activities are performed
before the customer obtains control of the goods and therefore represent a fulfillment activity rather than a promised service to the
customer. Revenue and costs of sales are recognized when control of the products transfers to our customer, which generally occurs upon
shipment from our facilities. The Company's performance obligations are satisfied at that time.
All
of the Company's products are offered for sale as finished goods only, and there are no performance obligations required post-shipment
for customers to derive the expected value from them.
The
Company does not allow for returns, except for product damaged during customer delivery. Damaged product returns have historically been
insignificant. Because of this, the stand-alone nature of our products, and our assessment of performance obligations and transaction
pricing for our sales contracts, we do not currently maintain a contract asset or liability balance for obligations. We assess our contracts
and the reasonableness of our conclusions on a quarterly basis.
Loss
per Common Share
Basic
earnings (loss) per share is computed by dividing the net income (loss) applicable to common stockholders by the weighted average number
of shares of common stock outstanding during the period. Diluted earnings (loss) per share is computed by dividing the net income applicable
to common stockholders by the weighted average number of common shares outstanding plus the number of additional common shares that would
have been outstanding if all dilutive potential common shares had been issued, using the treasury stock method. Potential common shares
are excluded from the computation when their effect is antidilutive.
For
the years ended December 31, 2021 and 2020, the calculations of basic and diluted loss per share are the same because potential dilutive
securities would have had an anti-dilutive effect. The potentially dilutive securities consisted of the following:
December
31, 2021
December
31, 2020
Warrants
6,578,360
1,278,375
Options
4,415,000
-
Senior convertible notes
769,240
-
Series A Preferred
1
1
Total
11,762,601
1,278,376
Stock
Compensation Expense
The
Company periodically issues stock options to employees and non-employees in non-capital raising transactions for services and for financing
costs. The Company accounts for such grants issued and vesting based on ASC 718,
Compensation-Stock Compensation
whereby the value
of the award is measured on the date of grant and recognized for employees as compensation expense on the straight-line basis over the
vesting period. The Company recognizes the fair value of stock-based compensation within its Statements of Operations with classification
depending on the nature of the services rendered.
F-
9
The
fair value of each option or warrant grant is estimated using the Black-Scholes option-pricing model. The Company is a private company
and lacks company-specific historical and implied volatility information. Therefore, it estimates its expected stock volatility based
on the historical volatility of a publicly traded set of peer companies within the agriculture technology industry with characteristics
similar to the Company. The expected term of the Company's stock options has been determined utilizing the "simplified"
method for awards that qualify as "plain-vanilla" options. The expected term of stock options granted to non-employees is
equal to the contractual term of the option award. The risk-free interest rate is determined by reference to the U.S. Treasury yield
curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend
yield is zero, based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the
foreseeable future.
During
the year ended December 31, 2021 and 2020, common shares of the Company were not publicly traded. As such, during the period, the Company
estimated the fair value of common stock using an appropriate valuation methodology, in accordance with the framework of the American
Institute of Certified Public Accountants' Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued
as Compensation. Each valuation methodology includes estimates and assumptions that require the Company's judgment. These estimates
and assumptions include a number of objective and subjective factors, including external market conditions, guideline public company
information, the prices at which the Company sold its common stock to third parties in arms' length transactions, the rights and
preferences of securities senior to the Company's common stock at the time, and the likelihood of achieving a liquidity event such
as an initial public offering or sale. Significant changes to the assumptions used in the valuations could result in different fair values
of stock options at each valuation date, as applicable.
Income
Taxes
Income
tax expense is based on pretax financial accounting income. Deferred tax assets and liabilities are recognized for the expected tax consequences
of temporary differences between the tax bases of assets and liabilities and their reported amounts. Valuation allowances are recorded
to reduce deferred tax assets to the amount that will more likely than not be realized. The Company has recorded a valuation allowance
against its deferred tax assets as of December 31, 2021, and 2020.
The
Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The
first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more
likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any.
The second step is to measure the tax benefit as the largest amount that is more than 50 percent likely of being realized upon settlement.
The Company classifies the liability for unrecognized tax benefits as current to the extent that the Company anticipates payment (or
receipt) of cash within one year. Interest and penalties related to uncertain tax positions are recognized in the provision for income
taxes.
Research
and Development
Research
and development costs include advisors, consultants, legal, software licensing, product design and development, data monitoring and collection,
field trial installations, and travel related expenses. Research and development costs are expensed as incurred. During the years ended
December 31, 2021 and 2020, research and development costs were $
2,621,000
and $
1,680,000
, respectively.
Fair
Value of Financial Instruments
The
Company uses various inputs in determining the fair value of its financial assets and liabilities and measures these assets on a recurring
basis. Financial assets recorded at fair value are categorized by the level of subjectivity associated with the inputs used to measure
their fair value. ASC 820 defines the following levels of subjectivity associated with the inputs:
Level
1—Quoted prices in active markets for identical assets or liabilities.
Level
2—Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly.
Level
3—Unobservable inputs based on the Company's assumptions.
The
carrying amounts of financial assets and liabilities, such as cash, accounts receivable, accounts payable and accrued liabilities, and
patent purchase obligation approximate their fair values because of the short maturity of these instruments. The carrying values of loan
and note payables approximate their fair values because interest rates on these obligations are based on prevailing market interest rates.
F-
10
Recent
Accounting Pronouncements
In
September 2016, the FASB issued ASU 2016-13,
Measurement of Credit Losses on Financial Instruments
. ASU 2016-13 requires entities
to use a forward-looking approach based on current expected credit losses ("CECL") to estimate credit losses on certain types
of financial instruments, including trade receivables. This may result in the earlier recognition of allowances for losses. ASU 2016-13
is effective for the Company beginning January 1, 2023, and early adoption is permitted. The Company does not believe the potential impact
of the new guidance and related codification improvements will be material to its financial position, results of operations and cash
flows.
In
August 2020, the FASB issued ASU No. 2020-06 ("ASU 2020-06") "Debt—Debt with Conversion and Other Options (Subtopic
470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic 815-40)." ASU 2020-06 reduces the number
of accounting models for convertible debt instruments by eliminating the cash conversion and beneficial conversion models. The diluted
net income per share calculation for convertible instruments will require the Company to use the if-converted method. For contracts in
an entity's own equity, the type of contracts primarily affected by this update are freestanding and embedded features that are
accounted for as derivatives under the current guidance due to a failure to meet the settlement conditions of the derivative scope exception.
This update simplifies the related settlement assessment by removing the requirements to (i) consider whether the contract would be settled
in registered shares, (ii) consider whether collateral is required to be posted, and (iii) assess shareholder rights. ASU 2020-06 is
effective January 1, 2024, for the Company and the provisions of this update can be adopted using either the modified retrospective method
or a fully retrospective method. Early adoption is permitted, but no earlier than January 1, 2021, including interim periods within that
year. Effective January 1, 2021, the Company early adopted ASU 2020-06 and that adoption did not have an impact on our financial statements
and related disclosures.
Other
recent accounting pronouncements issued by the FASB, its Emerging Issues Task Force, the American Institute of Certified Public Accountants,
and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's
present or future financial statements.
Concentration
Risks
Cash
includes cash on hand and cash in banks and are reported as "Cash" in the balance sheets. The balance of cash on hand is
not insured by the Federal Deposit Insurance Corporation. The balance of cash in banks is insured by the Federal Deposit Insurance Corporation
for up to $
250,000
.
The
Company performs a regular review of customer activity and associated credit risks and does not require collateral or other arrangements.
One customer accounted for
45
%
of the Company's sales during the year ended December 31, 2021, and one customer accounted for
92
%
of the Company's sales during the year ended December 31, 2020.
The
Company's currently uses one vendor to manufacturing the majority of its products, including products developed for the Company's
research and development activities.
Segment
Reporting
The
Company operates in one segment for the manufacture and distribution of our products. In accordance with the "Segment Reporting"
Topic of the ASC, the Company's chief operating decision maker has been identified as the Chief Executive Officer and President,
who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing
guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information
quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the
entity holds material assets and reports revenue. All material operating units qualify for aggregation under "Segment Reporting"
due to their similar customer base and similarities in: economic characteristics; nature of products and services; and procurement, manufacturing
and distribution processes. Since the Company operates in one segment, all financial information required by "Segment Reporting"
can be found in the accompanying financial statements.
F-
11
Note
3 –
Property and Equipment
Property
and equipment consist of the following at December 31, 2021 and 2020:
2021
2020
Tools and molds
$
1,682,000
$
592,000
Office equipment
8,000
4,000
Vehicles
45,000
45,000
Total cost
1,735,000
641,000
Less: accumulated depreciation and amortization
(
577,000
)
(
278,000
)
Property and equipment, net
$
1,158,000
$
363,000
Depreciation
expense for the years ended December 31, 2021 and 2020, was $
299,000
and $
265,000
, respectively.
Note
4 –
Earnout and Royalty Obligations
DisperSolar
LLC (Related Party)
On
April 7, 2017 (as amended on December 6, 2018), the Company and DisperSolar LLC (the "Seller"), a California limited liability
company, entered into a Patent Purchase Agreement (the "Agreement") pursuant to which the Company acquired certain patents
(intellectual property) of the Seller. The Seller developed the patents for harvesting, transmission, spectral modification and delivery
of sunlight to shaded areas of plants. Per the Agreement, the Company was obligated to pay milestone payments, earnout payments, and
royalties.
As
of December 31, 2020, the remaining purchase obligation was $
100,000
. During the year ended December 31, 2021, the Company paid $
100,000
of remaining purchase obligation leaving no balance remaining at December 31, 2021.
Earnout
Payments
The
Company is obligated to pay total
earnout payments of $
800,000
payable on the on-going basis at a rate of 50% of gross margin and/or
license revenue from the date of the first commercial sale of a covered product or the first receipt by Purchaser of license revenue
,
until the aggregate combined gross margin and license revenue reach $
1.6
million.
Royalties
The
Company will pay to Seller royalties as follows:
(i)
Following
    the recognition by the Company of the first $
1.6
million in aggregate combined gross margin and license revenue, and until the Company
    pays to Seller an aggregate amount in royalties of $
30
million, the Company shall pay to Seller royalties on sales of covered products
    at a rate of 8% of gross margin.
(ii)
Once
    Purchaser has paid to Seller an aggregate amount in royalties of $
30
million, the Company shall pay to Seller royalties on sales
    of covered products at a rate of
4.75
%
of gross margin until the earlier of (x) such time as covered products are not covered by
    any claims of any assigned patent, and (y) the date of the consummation of a Strategic Transaction.
As
of December 31, 2021 and December 31, 2020, the Company recorded no earnout or royalties payment obligations as no gross margin was realized.
F-
12
Strategic
Transaction
The
Company will pay to Seller
7.6
%
of all license consideration received by the Company until the date of the consummation of a Strategic
Transaction. "Strategic Transaction" means a transaction or a series of related transactions that results in an acquisition
of the Company by a third party, including by way of merger, purchase of capital stock or purchase of assets or change of control or
otherwise.
Strategic
Transaction Consideration. "Strategic Transaction Consideration" means any cash consideration and the fair market value of
any non-cash consideration paid to the Company by any acquirer as consideration for the Strategic Transaction, less the costs and expenses
incurred by Purchaser for the purpose of consummating the Strategic Transaction. The Company will pay to Seller a percentage of all license
consideration received by Purchaser as follows:
(i)
3.8
%
of the first $
50
million of the Strategic Transaction Consideration;
(ii)
5.7
%
of the next $
100
million of the Strategic Transaction Consideration (i.e. over $
50
million and up to $
150
million);
(iii)
7.6
%
of Strategic Transaction Consideration over $
150
million.
Inventor
Royalty (Related Party)
On
July 5, 2019, the Company and Nicholas Booth ("Mr. Booth") entered into a Royalty Agreement. Mr. Booth is a member of Dispersolar,
LLC and a named inventor of the acquired patents from Dispersolar, LLC discussed above. Effective July 1, 2021, Mr. Booth was employed
by the Company as its Chief Technology Officer.
The
Company will pay Mr. Booth a percentage of all License Consideration received by the Company as follows:
(a)
Once the Company has paid to DisperSolar an aggregate amount in royalties of $
30
million under the Agreement, the Company will pay to
Booth a percentage of all royalties on sales of Covered Products at a rate of
0.25
%
of Gross Margin until the earlier of (x) such time
as Covered Products are not covered by any claims of any Assigned Patent, and (y) the date of the consummation of a Strategic Transaction.
(b)
Opti-Harvest will pay to Booth a percentage of all License Consideration received by Purchaser on the same terms as payable by the Company
to DisperSolar under the Agreement, except that the percentages of License Consideration due to Booth shall be as follows:
(a)
0.4
%
of all License Consideration received by Opti-Harvest until the date of consummation of a Strategic Transaction;
(b)
0.2
%
of the first $
50
million of the Strategic Transaction Consideration;
(c)
0.3
%
of the next $
100
million of the Strategic Transaction Consideration (i.e. over $
50
million and up to $
150
million); and
(d)
0.4
%
of Strategic Transaction Consideration over $
150
million.
As
of December 31, 2021 and December 31, 2020, no amounts were due for earnouts or royalties.
Both
Yosepha Shahak Ravid and Nicholas Booth are members of the Seller, and are named inventors of the acquired patents from the Seller, discussed
above. Effective July 1, 2021, Ms. Shahak Ravid, our Chief Science Officer, and Mr. Booth, our Chief Technology Officer, were employed
by the Company.
Note
5 –
Senior Convertible Notes Payable and Warrants
Senior
convertible notes payable is comprised of the following:
December 31, 2021
December 31, 2020
Senior convertible notes payable
$
3,591,000
$
-
Less debt discount
(
2,326,000
)
-
Total senior convertible notes payable, net
$
1,265,000
$
-
F-
13
During
the year ended December 31, 2021, the Company sold approximately $
3,591,000
of Senior Convertible Promissory Notes (the "Notes")
and
3,591,235
warrants (the "Warrants"). The Company received net proceeds of $
3,034,000
after deducting an original issue
discount of
15
%, or $
539,000
, and legal fees of $
18,000
, which was recorded as a debt discount. Each Warrant is exercisable at a price
(the "Exercise Price") equal to
115
% of its initial public offering price estimated to be $
6.00
per share. The Company determined
the fair value of the Warrants to be approximately $
13.6
million of which the relative fair value of $
2.5
million was allocated and recorded
as a component of debt discount. The fair value of the Warrants was determined using a Black-Scholes-Merton option pricing model with
the following average assumption: fair value of the stock price based on the estimated initial public offering price of $
6.00
per share,
exercise price at $
6.90
(
115
% of estimated initial public offering price), expected term of
3.0
years, volatility of
110
%, dividend rate
of
0
%, and average risk-free interest rate between
0.53
% and
0.66
%.
The
holder of the Warrants shall have the right to purchase up to the number of shares that equals the quotient obtained by dividing: (i)
the Warrant Coverage Amount, by (ii) the Conversion Price. The "Warrant Coverage Amount" shall mean the amount obtained by
multiplying: (A) one hundred percent (100%); by (B) aggregate principal amount of the Holder's Note(s). The conversion price in
effect on any Conversion Date shall be equal to
80
% of the offering price per share of common stock in our initial public offering.
Each
Note is convertible, in the sole discretion of the holder of the Note, into shares of our common stock at a purchase price equal to
80
%
of the offering price of the initial public offering price estimated to be $
6.00
per share. Each Note, issued at an original issue discount
of
15
%, carries interest at a rate of
12
% per annum, and any interest payable under the Note shall automatically accrue and be capitalized
to the principal amount of the Note, and shall thereafter be deemed to be a part of the principal amount of the Note, unless such interest
is paid in cash on or prior to the maturity date of the Note.
The
Notes mature
12
months from the date of the Notes, provided, however, that noteholders have the right to call the Notes prior to maturity
starting from the earlier of (i) the consummation of the first underwritten public offering pursuant to an effective registration statement
under the Securities Act of 1933, as amended, covering the offer and sale by the Company of not less than $
10
million of its equity securities,
as a result of or following which common stock shall be listed on the Nasdaq Stock Market, and (ii)
December 15, 2021. Additionally,
each Warrant contains a cashless exercise provision, which is effective if the shares underlying the Warrant are not covered by a registration
statement 6 months from the date of issuance of the Warrant.
The
shares of common stock underlying the Notes and the Warrants are subject to registration rights, and such shares must be registered within
90 days after the effectiveness of the Company's initial public offering. If the Company fails to register the shares within 90
days, the Company agreed to pay a penalty of a cash payment equal to 0.02857% of the principal amount and interest due and owing under
any Note held by the Holder or that number shares of common stock of the Company equal 1% of the shares of common stock underlying any
Note and Warrant held by the Holder, in total amount per week paid in, whichever is greater.
Each
Note and Warrant holder has (i) the right of first refusal to purchase up to
20
% of its pro rata share of new securities the that company
offers, which right expires upon the consummation of an underwritten initial public offering by the Company or a change in control of
the Company, and (ii) the right to be repaid any and all principal and interest due by the Company from any and all proceeds resulting
from any sale of assets and any sale and issuance of debt or equity securities.
Both
the original issue discount of $
539,000
, legal fees of $
18,000
, and the allocated relative fair value of warrants issued of $
2.5
million,
or an aggregate of $
3.0
million, were capitalized and recorded as a debt discount and are amortized over the remaining life of the Notes.
Amortization of debt discount was $
713,000
for the year ended December 31, 2021, leaving a remaining unamortized debt discount balance
of $
2.3
million as of December 31, 2021.
During
the years ended December 31, 2021, the Company added $
101,000
of accrued interest, leaving an accrued interest balance of $
101,000
at
December 31, 2021. Accrued interest in included in accounts payable and accrued expenses in the accompanying condensed balance sheets.
F-
14
As
of December 31, 2021,
802,685
shares of common stock were potentially issuable under the conversion terms of the Notes.
Note
6 –
Note Payable
On
April 27, 2020, the Company was granted a loan (the "PPP loan") from Chase Bank in the aggregate amount of $
38,000
, pursuant
to the Paycheck Protection Program (the "PPP") under the CARES Act. At December 31, 2020, the note payable balance was $
38,000
.
On September 7, 2021, the Company was notified by Chase Bank that the SBA had authorized the full forgiveness of the Company's
PPP loan. The Company recorded the full loan forgiveness as a gain on forgiveness of debt of $
38,000
, which is reflected in other income
in the accompanying statements of operations.
Note
7 –
Loan payable
On
November 20, 2020, the Company financed the purchase of a vehicle for $
40,000
. The loan term is for
59
months, annual interest rate of
4.49
%, with monthly principal and interest payments of $
745
, and
secured by the purchased vehicle.
The loan balance was $
40,000
at December
31, 2020, of which $
7,000
was recorded as the current portion of loans payable on the accompanying balance sheet. During the twelve months
ended December 31, 2021, the Company made principal payments of $
7,000
, leaving a loan balance of $
33,000
at December 31, 2021, of which
$
8,000
was recorded as the current portion of loan payable on the accompanying balance sheet.
Note
8 –
Shareholders' Equity
The
following description summarizes the material terms of our capital stock.
Our
authorized capital stock consists of
100,000,000
shares of common stock, $
0.0001
par value, and
1,000,000
shares of preferred stock,
1
share of which is designated as Series A preferred stock, $
0.0001
par value. The rights, preferences and privileges of preferred stock
may be designated from time to time by our board of directors. As of December 31, 2021, there were
32,405,146
shares of our common stock
issued and outstanding and one (
1
) share of Series A preferred stock issued and outstanding. The one (1) share of Series A preferred
stock is held by Jonathan Destler, our Chief Executive Officer and director.
Undesignated
Preferred Stock
Under
the terms of our Certificate of Incorporation, our board of directors is authorized to issue shares of our undesignated preferred stock
in one or more series without shareholder approval. Our board of directors has the discretion to determine the rights, preferences, privileges
and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, of
each series of preferred stock.
The
purpose of authorizing our board of directors to issue preferred stock and determine its rights and preferences is to eliminate delays
associated with a shareholder vote on specific issuances. The issuance of preferred stock, while providing flexibility in connection
with possible future acquisitions and other corporate purposes, will affect, and may adversely affect, the rights of holders of common
stock. It is not possible to state the actual effect of the issuance of any shares of preferred stock on the rights of holders of common
stock until our board of directors determines the specific rights attached to that preferred stock. The effects of issuing preferred
stock could include one or more of the following:
●
restricting
    dividends on the common stock;
●
diluting
    the voting power of the common stock;
●
impairing
    the liquidation rights of the common stock; or
●
delaying
    or preventing changes in control or management of our company.
F-
15
Once
our board of directors approves the rights and preferences for a series of preferred stock, we will file a Certificate of Designation
for such series of preferred stock with the Delaware Secretary of State formally establishing such rights and preferences.
Series
A Preferred Stock; Common Stock
Voting
Except
as set forth below, each holder of Series A preferred stock has the same rights as holders of common stock and shall be entitled to notice
of any shareholders' meeting. They shall also be entitled to vote with the holders of common stock, and not as a separate class,
except as may otherwise be required by law. Except as set forth below, each shareholder shall be entitled to one (1) vote for each share
of stock outstanding. Except as set forth below or otherwise provided by the law of the State of Delaware, any corporate action to be
taken shall be authorized by a majority of the votes cast by the shareholders. There are no cumulative rights to voting.
Each
share of Series A preferred stock is entitled to the number of votes equal to 110% of the number of votes of the common stock issued
and outstanding.
Additionally,
for as long as any shares of Series A preferred stock are outstanding, the holders of Series A preferred stock shall be entitled to elect
one director, or the Series A Director.
Protective
Provisions
For
as long as any shares of Series A preferred stock are outstanding, we must obtain the approval of at least a majority of the holders
of the outstanding shares of preferred stock, voting as a separate class, to:
●
Amend
    our articles of incorporation or, unless approved by our board of directors, including by the Series A Director, amend our bylaws;
●
Change
    or modify the rights, preferences or other terms of the Series A preferred stock, or increase or decrease the number of authorized
    shares of Series A preferred stock;
●
Reclassify
    or recapitalize any outstanding equity securities, or, unless approved by our board of directors, including by the Series A Director,
    authorize or issue, or undertake an obligation to authorize or issue, any equity securities or any debt securities convertible into
    or exercisable for any equity securities (other than the issuance of stock-options or securities under any employee option or benefit
    plan);
●
Authorize
    or effect any transaction constituting a Deemed Liquidation (as defined in this subparagraph), or any other merger or consolidation
    of the Company, where a Deemed Liquidation shall mean: (1) the closing of the sale, transfer or other disposition of all or substantially
    all of the Company's assets (including an irrevocable or exclusive license with respect to all or substantially all of the
    Company's intellectual property); (2) the consummation of a merger, share exchange or consolidation with or into any other
    corporation, limited liability company or other entity (except one in which the holders of capital stock of the Company as constituted
    immediately prior to such merger, share exchange or consolidation continue to hold at least 50% of the voting power of the capital
    stock of the Company or the surviving or acquiring entity (or its parent entity)), (3) authorizing or effecting any transaction liquidation,
    dissolution or winding up of the Company, either voluntary or involuntary;
provided, however
, that none of the following shall
    be considered a Deemed Liquidation: (A) a merger effected exclusively for the purpose of changing the domicile of the Company, or
    (B) a transaction or other event deemed to be exempt from the definition of a Deemed Liquidation by the holders of at least a majority
    of the then outstanding Series A preferred stock.
●
Increase
    or decrease the size of our board of directors as provided in our bylaws or remove the Series A Director (unless approved by our
    board of directors, including the Series A Director);
●
Declare
    or pay any dividends or make any other distribution with respect to any class or series of capital stock (unless approved by our
    board of directors, including the Series A Director);
F-
16
●
Redeem,
    repurchase or otherwise acquire (or pay into or set aside for a sinking fund for such purpose) any outstanding shares of capital
    stock (other than the repurchase of shares of common stock from employees, consultants or other service providers pursuant to agreements
    approved by our board of directors under which the Company has the option to repurchase such shares at no greater than original cost
    upon the occurrence of certain events, such as the termination of employment) (unless approved by our board of directors, including
    the Series A Director);
●
Create
    or amend any stock option plan of the Company, if any (other than amendments that do not require approval of the shareholders under
    the terms of the plan or applicable law) or approve any new equity incentive plan;
●
Replace
    the President and/or Chief Executive Officer of the Company (unless approved by our board of directors, including the Series A Director);
●
Transfer
    assets to any subsidiary or other affiliated entity (unless approved by our board of directors, including the Series A Director);
●
Issue,
    or cause any subsidiary of the Company to issue, any indebtedness or debt security, other than trade accounts payable and/or letters
    of credit, performance bonds or other similar credit support incurred in the ordinary course of business, or amend, renew, increase
    or otherwise alter in any material respect the terms of any indebtedness previously approved or required to be approved by the holders
    of the Series A preferred stock (unless approved by our board of directors, including the Series A Director);
●
Modify
    or change the nature of the Company's business;
●
Acquire,
    or cause a subsidiary of the Company to acquire, in any transaction or series of related transactions, the stock or any material
    assets of another person, or enter into any joint venture with any other person (unless approved by our board of directors, including
    the Series A Director); or
●
Sell,
    transfer, license, lease or otherwise dispose of, in any transaction or series of related transactions, any material assets of the
    Company or any subsidiary outside the ordinary course of business (unless approved by our board of directors, including the Series
    A Director).
Dividends
Subject
to the rights of the preferred shareholders set forth in "Protective Provisions", our board of directors shall have full
power and discretion, to determine out of legally available funds what, if any, dividends or distributions shall be declared and paid.
Dividends may be paid in cash, in property, or in shares of common stock. Shares of common stock and Series A preferred stock are treated
equally and ratably, on a per share basis, with respect to any dividend or distribution from us. If a dividend is paid in the form of
shares of common stock or rights to acquire common stock, the holders of common stock and Series A preferred stock shall both receive
common stock or rights to acquire common stock. No dividends shall be declared or payable in the form of Series A preferred stock.
Liquidation
Rights
If
there is a liquidation, dissolution or winding up of the Company, holders of our common stock and Series A preferred stock would be entitled
to share in our assets remaining after the payment of liabilities equally and ratably, on a per share basis.
Conversion
Voluntary
Conversion: Each share of Series A preferred stock shall be convertible into one fully paid and nonassessable share of common stock at
the option of the holder.
F-
17
Other
Provisions
Holders
of our common stock and Series A preferred stock have no preemptive or conversion rights or other subscription rights, and there are
no redemption or sinking fund provisions applicable to the common stock or Series A preferred stock.
Common
shares issued on private offerings
During
the years ended December 31, 2021 and 2020, the Company received net proceeds of $
5.2
million and $
2.5
million on the sale of
2,597,500
and
1,269,250
shares of common stock, respectively, at $
2.00
per share, as part of its private offerings. As part of the Company's
$
2.00
private offering, each participating shareholder is entitled to a warrant to purchase up to fifty percent (50%) of the number of
common shares purchased, at $
3.00
per share, and which expires on
December 31, 2022
.
Common
shares issued for services
The
Company entered into various consulting agreements with third parties ("Consultants") pursuant to which these Consultants
provided business development, sales promotion, introduction to new business opportunities, strategic analysis and sales and marketing
activities. During the year ended December 31, 2021, the Company issued
851,488
shares of common stock, with a fair value of $
1.7
million
at date of grant, or $
2.05
per common share, to Consultants. During the year ended December 31, 2020, the Company issued
57,500
shares
of common stock, with a fair value of $
115,000
at date of grant, or $
2.00
per common share, to Consultants.
Summary
of Warrants
A
summary of warrants for the years ended December 31, 2021 and 2020, is as follows:
Weighted
Average
Number of
Exercise
Warrants
Price
Balance outstanding, December 31, 2019
643,750
$
3.00
Warrants granted
634,625
3.00
Warrants exercised
-
-
Warrants expired or forfeited
-
-
Balance outstanding, December 31, 2020
1,278,375
3.00
Warrants granted
5,299,985
5.45
Warrants exercised
-
-
Warrants expired or forfeited
-
-
Balance outstanding, December 31, 2021
6,578,360
$
4.97
Balance exercisable, December 31, 2021
6,378,360
$
5.00
Information
relating to outstanding warrants at December 31, 2021, summarized by exercise price, is as follows:
Outstanding
Exercisable
Exercise Price Per Share
Share
Life
(Years)
Weighted Average Exercise Price
Shares
Weighted Average Exercise Price
$
2.00
200,000
2.50
$
3.00
200,000
$
2.00
$
3.00
2,587,125
1.00
$
3.00
2,587,125
$
3.00
$
4.00
200,000
2.50
$
4.00
-
$
4.00
$
6.61
3,591,235
2.76
$
6.61
3,591,235
$
6.61
6,578,360
2.06
$
4.97
6,378,360
$
5.00
F-
18
During
the year ended December 31, 2021, the Company issued warrants exercisable into an aggregate of
5,299,985
shares of common stock. The
weighted-average remaining contractual life of warrants outstanding and exercisable at December 31, 2021 was
2.06
years. As of December
31, 2021, the outstanding and exercisable warrants have an intrinsic value of $
8.2
million and $
7.9
million, respectively. The aggregate
intrinsic value was calculated as the difference between the estimated market value of $
6.00
per share as of December 31, 2021, and the
exercise price of the outstanding warrants.
Warrants
Issued in Private Offering
In
conjunction with the sale of the common shares issued as part of the Company's $
2.00
private offering, each participating shareholder
is entitled to purchase up to fifty percent (50%) of the number of common shares purchased, at $
3.00
per share. The original warrant
term of eighteen (18) months was modified by the Board on July 13, 2021, to expire on December 31, 2022. During the years ended December
31, 2021 and 2020, the Company issued warrants to purchase
1,308,750
shares and
634,625
shares of common stock at an exercise price of
$
3.00
.
Warrants
Issued with Senior Convertible Notes Payable
In
conjunction with the sale of senior convertible notes payable, the Company issued warrants to purchase an aggregate of
3,591,235
of its
common shares. The holder of the Warrants shall have the right to purchase up to the number of shares that equals the quotient obtained
by dividing: (i) the Warrant Coverage Amount, by (ii) the Conversion Price. The "Warrant Coverage Amount" shall mean the
amount obtained by multiplying: (A) one hundred percent (100%); by (B) aggregate principal amount of the Holder's Note(s). The
conversion price in effect on any Conversion Date shall be equal to
80
% of the offering price per share of common stock in our initial
public offering. Each Warrant is exercisable at a price equal to
115
% of our initial public offering price (see Note 5).
Warrants
Issued under Advisory Board Agreement
On
July 1, 2021, the Company entered into a three-year consulting agreement (the "Agreement") for which the consultant is to
serve on the Company's Advisory Board and provide services as defined in the Agreement. Per the terms of the Agreement, the Company
is to pay the consultant $
5,000
per month during the first six month period of the Agreement, and the Company shall grant, as of July
1, 2021, (i) a warrant, for a term of three years, to purchase
100,000
shares of common stock, which shall vest on the date hereof, at
an exercise price of $
2.00
per share, (ii) a warrant, for a term of three years, to purchase
100,000
shares of common stock, which shall
vest on December 1, 2021, at an exercise price of $
2.00
per share, (iii) a warrant, for a term of three years, to purchase
100,000
shares
of common stock, which shall vest on September 1, 2022, at an exercise price of $
4.00
per share, and (iv) a warrant, for a term of three
years, to purchase
100,000
shares of common stock, which shall vest on December 1, 2022, at an exercise price of $
4.00
per share. The
aggregate fair value of the warrants was determined to be $
382,000
, which was determined using a Black-Scholes-Merton option pricing
model with the following average assumption: fair value of our stock price of $
2.00
per share based on recent private sales of our stock,
expected term of
five years
, volatility of
108
%, dividend rate of
0
%, and weighted average risk-free interest rate of
0.25
%.
During
the year ended December 31, 2021, the Company recognized $
288,000
of compensation expense relating to vested warrants. As of December
31, 2021, the aggregate amount of unvested compensation related to these warrants were approximately $
93,000
which will be recognized
as an expense as the warrants vest in future periods through December 2022.
Summary
of Options
2016
Stock Incentive Plan
The
Company's 2016 Equity Incentive Plan (the "Plan") is for officers, employees, non-employee members of the Board of
Directors, and consultants of the Company. The Plan authorized the granting of not more than
1
million restricted shares, stock appreciation
rights ("SAR's"), and incentive and non-qualified stock options to purchase shares of the Company's common stock.
On July 13, 2021, the Board increased the number of common shares authorized to be issued under the Company's 2016 Equity Incentive
Plan one (
1
) million shares to seven (
7
) million shares.
F-
19
A
summary of stock options for the year ended December 31, 2021 is as follows:
Weighted
Number of
Average
Options
Exercise Price
Balance outstanding, December 31, 2020
-
$
-
Options granted
4,415,000
2.00
Options exercised
-
-
Options expired or forfeited
-
-
Balance outstanding, December 31, 2021
4,415,000
$
2.00
Balance exercisable, December 31, 2021
880,417
$
2.00
Information
relating to outstanding options at December 31, 2021, summarized by exercise price, is as follows:
Outstanding
Exercisable
Weighted
Weighted
Exercise Price
Life
Average
Average
Per Share
Shares
(Years)
Exercise Price
Shares
Exercise Price
$
2.00
4,415,000
9.15
$
2.00
880,417
$
2.00
During
the year ended December 31, 2021, as discussed below, the Company approved options exercisable into
4,415,000
shares to be issued pursuant
to the Company's 2016 Equity Incentive Plan. The aggregate fair value of the approved options was determined to be $
7.6
million.
During the year ended December 31, 2021, the Company recognized $
1.5
million of compensation expense relating to vested stock options.
As of December 31, 2021, the aggregate amount of unvested compensation related to stock options was approximately $
6.1
million which
will be recognized as an expense as the options vest in future periods through May 2025.
As
of December 31, 2021, the outstanding and exercisable options have an intrinsic value of $
17.7
million and $
3.5
million, respectively.
The aggregate intrinsic value was calculated as the difference between the estimated market value of $
6.00
per share as of December 31,
2021, and the exercise price of the outstanding options.
Options
Issued under Executive Employment Agreements
Chief
Executive Officer
On
March 21, 2021, the Company and Mr. Destler, Chief Executive Officer "(the "Executive"), entered into an amended Employment
Agreement (the "Amended Agreement") (see Note 8).
The
Amended Agreement granted the Executive an option to purchase
4,000,000
shares of common stock (the "Option Shares") under
the Company's 2016 Equity Incentive Plan, at an exercise price of $
2.00
per share, for a term to expire on
April 1, 2031
, and where
83,333
Option Shares vest monthly beginning on May 1, 2021. This option shall survive termination of the Agreement. The stock options
are exercisable at a price of $
2.00
per share and expire in ten years. The total fair value of these options at grant date was approximately
$
6.8
million, which was determined using a Black-Scholes-Merton option pricing model with the following average assumption: fair value
of our stock price of $
2.00
per share based on recent private sales of our stock, expected term of
seven years
, volatility of
107
%, dividend
rate of
0
%, and weighted average risk-free interest rate of
1.34
%. During the year ended December 31, 2021, the Company recognized $
1.1
million of compensation expense relating to vested stock options.
Chief
Financial Officer and Director of Operations
On
May 17, 2021, the Company entered into an employment agreement with Steve Handy to serve as its Chief Financial Officer and Director
of Operations (the "Employment Agreement"). The term of the employment is for twelve months. Mr. Handy's base salary
is $
200,000
per annum, with annual increases and bonuses at the discretion of the Board of Directors. Mr. Handy is entitled to receive
a severance payment of $
100,000
if terminated by the Company without cause within the first twelve months of employment.
F-
20
The
Employment Agreement granted the Executive an option to purchase
300,000
shares of common stock (the "Option Shares") under
the Company's 2016 Equity Incentive Plan, at an exercise price of $
2.00
per share, for a term to expire on
May 17, 2026
, and where
16,666
Option Shares vest monthly beginning on May 17, 2021. The stock options are exercisable at a price of $
2.00
per share and expire
in ten years. The total fair value of these options at grant date was approximately $
462,000
, which was determined using a Black-Scholes-Merton
option pricing model with the following average assumption: fair value of our stock price of $
2.00
per share based on recent private
sales of our stock, expected term of
five years
, volatility of
106
%, dividend rate of
0
%, and weighted average risk-free interest rate
of
0.83
%. During the year ended December 31, 2021, the Company recognized $
269,000
of compensation expense relating to vested stock options.
Employee
Option Grants
During
the year ended December 31, 2021, the Company granted its employees options to purchase an aggregate of
75,000
shares of common stock
(the "Option Shares") under the Company's 2016 Equity Incentive Plan, at an exercise price of $
2.00
per share, with
a weighted average vesting period of 10 months. The stock options are exercisable at a price of $
2.00
per share with a weighted average
expiration period of
6.67
years. The total fair value of these options at grant date was approximately $
310,000
, which was determined
using a Black-Scholes-Merton option pricing model with the following weighted average assumptions: fair value of our stock price of $
4.67
per share, based on recent private sales of our stock, and more recently, based on a recent valuation report, and valuation discussions
with our underwriters pursuant to our recent initial public offering, the expected term of five years, volatility of
115
%, dividend rate
of
0
%, and risk-free interest rate of
1.12
%. During the year ended December 31, 2021, the Company recognized $
61,000
of compensation
expense relating to vested stock options.
Options
Issued under Advisory Board Agreements
On
August 18, 2021 and September 24, 2021, the Company entered into a one-year consulting agreement (the "Agreement"), with
automatic annual renewals, for which the consultants are to serve on the Company's Advisory Board and provide services as defined
in the Agreement. Per the terms of the Agreement, the Company is to pay the consultants an aggregate amount of $
10,000
per calendar quarter
and granted the consultants aggregate options to purchase
40,000
shares of the Company's common stock, with a five (5) year life,
vesting over a twelve (12) month period, and exercisable at $
2.00
per share. The consultant will be granted an additional aggregate
40,000
options to purchase shares on each automatic contract renewal period. The total fair value of these options at grant date was approximately
$
53,000
, which was determined using a Black-Scholes-Merton option pricing model with the following weighted average assumption: fair
value of our stock price of $
2.00
per share based on recent private sales of our stock, expected term of five years, volatility of
110
%,
dividend rate of
0
%, and risk-free interest rate of
0.90
%. During the year ended December 31, 2021, the Company recognized $
17,000
of
compensation expense relating to vested stock options.
Note
9 –
Commitment and Contingencies
Legal
Proceeding
We
are engaged from time to time in the defense of lawsuits arising out of the ordinary course and conduct of our business. There is no
action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization
or body pending or, to the knowledge of the executive officers of our Company or our subsidiary, threatened against our Company, our
common stock, our subsidiary or of our Company or our subsidiary's officers or directors in their capacities as such.
Kingdom
Building Consulting Agreement
On
April 1, 2021, the Company entered into a consulting agreement with Kingdom Building, Inc. ("KBI"). For an initial one-year
period, with automatic annual extensions thereafter, KBI will advise, counsel and inform designated officers and employees of the Company
as it relates to financial markets, competitors, business acquisitions and other aspects of or concerning the Company's business
about which KBI has knowledge or expertise.
F-
21
The
Company agreed to pay $
5,000
per month, with an additional $
5,000
per month deferred until the closing of the first financing of $
250,000
or greater. At the closing of the financing, the amount deferred will be due in full and the monthly fee will be $
10,000
for the remainder
of the contract term. The Company also agreed to sell to KBI, at par value,
50,000
shares of the Company's common stock.
Upon
the closing of an investment in the Company of at least $
5
million in gross proceeds by a third party investor, or any other funding
that may take the form of, but not be limited to, debt or other alternative financing, or the entry into a joint venture or any other
form of merger or consolidation between any other entity and the Company, the Company agreed to sell to KBI, at par value, shares of
Company common stock equal to one percent (
1.00
%) to the Company's fully diluted shares outstanding, and upon the closing of an
initial public offering of at least $
5
million in gross proceeds, or any other form or merger or combination between any other entity
and the Company, the Company agreed to sell to KBI, at par value, shares of Company common stock equity to one-half percent (
0.50
%) of
the Company's fully diluted shares outstanding.
Advisory
Agreements
On
July 14, 2021, the Company entered into a three-year consulting agreement (the "Agreement") for which the consultant is to
serve on the Company's Advisory Board and provide services as defined in the Agreement. Per the terms of the Agreement, the Company
issued
12,500
restricted shares of common stock to the consultant, with a fair value at grant date was approximately $
25,000
, and granted
options, contingent on the achievement of defined milestones, to purchase
25,000
shares of the Company's common stock on January
1, 2022, options to purchase
30,000
shares of the Company's common stock on July 1, 2022, options to purchase
30,000
shares of
the Company's common stock on January 1, 2023, and options to purchase
30,000
shares of the Company's common stock on July
1, 2023. Each option shall have a term of three (
3
) years, vest immediately upon grant by the Company, and be exercisable at $
2.00
per
share. No options were earned as of December 31, 2021.
On
August 24, 2021, the Company entered into an advisor agreement with ICM Capital Management, LLC ("ICM") regarding the role
and compensation of ICM in connection with transactions in which the Company, directly or indirectly through one or more affiliates,
raises debt capital or receives a loan from one or more investors identified by ICM to the Company to raise up to $
2.0
million. The advisor
agreement shall expire on the date specified by either ICM or the Company not less than 30 days prior to the date of termination. The
Company agreed to pay ICM a fee equal to
2.0
% of the total principal amount of the loan to be made by an investor to the Company.
On
August 24, 2021, the Company entered into an advisor agreement with INTE Securities LLC ("INTE") regarding the role and compensation
of INTE in connection with equity transactions in which the Company, in each case directly or indirectly through one or more affiliates,
(i) raises equity capital from one or more investors or otherwise issues the Company's capital stock or (ii) otherwise issues instruments
convertible into the Company's capital stock, with the principal purpose of raising capital from one or more investors identified
by INTE to the Company. The advisor agreement shall expire on the date specified by either INTE or the Company not less than 30 days
prior to the date of termination. The Company agreed to pay INTE a fee equal to
4.0
% of the total principal amount of the equity capital
received from an investor by the Company. The INTE fee will be fully earned and due and payable at the initial closing of such transaction
regardless of whether the capital raised is funded at the initial closing or over time. No fees were earned as of December 31, 2021.
Chief
Executive Officer Employment Agreement
Jonathon
Destler, Chief Executive Officer
The
Company and Jonathan Destler entered into an Employment Agreement (the "Employment Agreement") dated December 17, 2018, and
as amended on March 31, 2021, which provides for an annual base salary of $
240,000
for per annum.
The salary will increase by 7% on November
1 of each year, based on the salary due in the year prior to each such 7% increase.
F-
22
The
Employment Agreement also grants to Mr. Destler an option, dated March 31, 2021, to purchase
4,000,000
shares of common stock under the
Company's 2016 Equity Incentive Plan, at an exercise price of $
2.00
per share, for a term to expire on
April 1, 2031
, and where
83,333
shares underlying the option vest monthly, beginning on May 1, 2021 (see Note 7).
Mr.
Destler shall be granted
1,000,000
shares of our common stock upon our listing of common stock on any market of the Nasdaq or New York
Stock Exchange.
Mr. Destler may, in his sole discretion, be granted any part of or all such 1,000,000 shares in the form of a warrant
or option, exercisable at $
0.001
per share, for the purchase of
1,000,000
shares of our common stock, for a term of five (
5
) years. Mr.
Destler's grant of and right to such 1,000,000 shares is conditioned upon and subject to Mr. Destler being an employee, officer
or director of the Company at the time that the Company's shares of common stock are listed on the Nasdaq or New York Stock Exchange.
The
Employment Agreement also provides for cash bonus(es), payable to Mr. Destler, equal to 10% of first $
1,000,000
of our gross profits,
8% of the second $
1,000,000
of our gross profits, 6% of the third $
1,000,000
of our gross profits, 4% of the fourth $
1,000,000
of our
gross profits, and 2% of all of our gross profits in excess of $
4,000,000
. In lieu of any cash payment due to Mr. Destler as a bonus,
Mr. Destler, may in his sole discretion, elect to receive shares of our common stock of the Company, valued at $
0.75
per share.
The
Employment Agreement also provides for a cash fee, payable to Mr. Destler, (i) equal to
3
% (the "Transaction Fee") of the
aggregate value of any sale of all or a substantial amount of the assets or the capital stock of us, any sale, merger, consolidation
or other event which results in the transfer of control of or a material interest in the Company or of all or a substantial amount of
the assets of our Company, provided, however, in no event shall the Transaction Fee be less than $
750,000
, and (ii) equal to
6
% (the
"Licensing Transaction Fee") of the aggregate value of any license, partnership or co-promotional agreement, joint venture,
alliance, reselling agreement, development agreement and any other such transaction in which we transfer any rights to our technology
or intellectual property where the aggregate licensing value is greater than $
5,000,000
, provided, however, that in no event shall the
License Transaction Fee be less than $
750,000
.
The
Employment Agreement also obligates us to pay for Mr. Destler's costs related to his reasonable monthly cell phone and other mobile
Internet costs, home office Internet costs, car and commuting costs not to exceed $
1,000
per month, and club membership costs, all of
which are payable not later than 10 days after the end of each month. Mr. Destler is also entitled to participate in our employee benefit
programs and provide for other customary benefits. Finally, the employment agreements prohibit the executive from engaging in certain
activities which compete with us, seek to recruit its employees, or disclose any of its trade secrets or otherwise confidential information.
Mr.
Destler is entitled to receive severance benefits upon termination of employment with the Company. Mr. Destler's entitlement to
such severance benefits shall be conditioned upon Mr. Destler's execution and delivery to us of (i) a general release of all claims,
(ii) a resignation from all of Mr. Destler's positions with us and (iii) an agreement not to directly or indirectly be employed
or involved with any business developing or exploiting any products or services that are competitive with products or services (a) being
commercially developed or exploited by us during Mr. Destler's employment and (b) on which Mr. Destler worked or about which Mr.
Destler learned proprietary information or trade secrets of us during Mr. Destler's employment with us.
If
Mr. Destler voluntarily elects to terminate his employment with us other than by Mr. Destler's resignation for good reason or if
we terminate Mr. Destler's employment for cause, or Mr. Destler dies or becomes incapacitated or otherwise disabled in such a manner
that, in the sole determination of our board of directors, Mr. Destler cannot reasonably perform the duties to us, then Mr. Destler shall
not be entitled to receive payment of any severance benefits. Mr. Destler will receive payment for all salary and unpaid vacation accrued
as of the date of Mr. Destler's termination of employment and Mr. Destler's benefits will be continued solely to the extent
of our then existing benefit plans and policies in accordance with such plans and policies in effect on the date of termination.
F-
23
If
Mr. Destler's employment is terminated by us without cause or by Mr. Destler's resignation for good reason prior to or more
than 12 months after, a change of control, Mr. Destler will receive payment for all salary and unpaid vacation accrued as of the date
of Mr. Destler's termination of employment, and, in addition, Mr. Destler will be entitled to receive the following severance benefits:
(i)
continued payment of his base salary for a period of 12 months following the date of termination, in accordance with our normal payroll
practices;
(ii)
reimbursement of his premium cost for continuation coverage for the lesser of the first 12 months of continuation coverage or that number
of months until Mr. Destler becomes eligible for reasonably comparable benefits under any future employer's health insurance plan,
provided Mr. Destler makes a timely election for such continuation coverage and presents reasonably requested documentation of payment
of such premiums;
(iii)
payment of
100
% of Mr. Destler's current year discretionary cash bonus;
(iv)
accelerated vesting as to
50
% of Mr. Destler's then unvested option shares; and
(v)
reimbursement for up to $
100,000
of expenses incurred in obtaining new employment, provided Mr. Destler submits evidence that is satisfactory
to us that the amount involved was expended and related to obtaining new employment.
If
Mr. Destler's employment is terminated by us without cause or by Mr. Destler's resignation for good reason in either case
within 12 months following a change of control, Mr. Destler will receive payment for all salary and unpaid vacation accrued as of the
date of Mr. Destler's termination of employment, and, in addition, Mr. Destler will be entitled to receive the following severance
benefits:
(i)
continued payment of his base salary for a period of 18 months following the date of termination, in accordance with our normal payroll
practices;
(ii)
reimbursement of his premium cost for continuation coverage for the lesser of the first 18 months of continuation coverage or that number
of months until Mr. Destler becomes eligible for reasonably comparable benefits under any future employer's health insurance plan,
provided Mr. Destler makes a timely election for such continuation coverage and presents reasonably requested documentation of payment
of such premiums;
(iii)
payment of
150
% of Mr. Destler's current year discretionary cash bonus regardless of our or Mr. Destler's achievement of
the goals referred to in his employment agreement;
(iv)
accelerated vesting of
100
% of all the unvested stock options; and
(v)
reimbursement for up to $
50,000
of expenses incurred in obtaining new employment, provided Mr. Destler submits evidence that is satisfactory
to us that the amount involved was expended and related to obtaining new employment.
Note
10 –
Income Taxes
At
December 31, 2021, the Company had available Federal and state net operating loss carryforwards to reduce future taxable income. The
amounts available were approximately $
16.8
million for Federal and state purposes. The carryforwards expire in various amounts through
2040. Given the Company's history of net operating losses, management has determined that it is more likely than not that the Company
will not be able to realize the tax benefit of the carryforwards. Accordingly, the Company has not recognized a deferred tax asset for
this benefit. Section 382 generally limits the use of NOLs and credits following an ownership change, which occurs when one or more 5
percent shareholders increase their ownership, in aggregate, by more than
50
percentage points over the lowest percentage of stock owned
by such shareholders at any time during the "testing period" (generally three years).
Effective
January 1, 2007, the Company adopted FASB guidelines that address the determination of whether tax benefits claimed or expected to be
claimed on a tax return should be recorded in the financial statements. Under this guidance, we may recognize the tax benefit from an
uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities,
based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be
measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. This
guidance also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods
and requires increased disclosures. At the date of adoption, and as of December 31, 2021 and 2020, the Company did not have a liability
for unrecognized tax benefits, and no adjustment was required at adoption.
F-
24
The
Company's policy is to record interest and penalties on uncertain tax provisions as income tax expense. As of December 31, 2021,
and 2020, the Company has not accrued interest or penalties related to uncertain tax positions. Additionally, tax years 2018 through
2021 remain open to examination by the major taxing jurisdictions to which the Company is subject.
Upon
the attainment of taxable income by the Company, management will assess the likelihood of realizing the tax benefit associated with the
use of the carryforwards and will recognize the appropriate deferred tax asset at that time.
The
Company's effective income tax rate differs from the amount computed by applying the federal statutory income tax rate to loss
before income taxes as follows:
December 31, 2021
December 31, 2020
Income tax benefit at federal statutory rate
(
21.0
)%
(
21.0
)%
State income tax benefit, net of federal benefit
(
6.0
)%
(
6.0
)%
Change in valuation allowance
27.00
%
27.00
%
Income taxes at effective tax rate
-
%
-
%
The
components of deferred taxes consist of the following at December 31, 2020 and 2019:
December 31, 2021
December 31, 2020
Net operating loss carryforwards
$
4,523,000
$
2,479,000
Less: Valuation allowance
(
4,523,000
)
(
2,479,000
)
Net deferred tax assets
$
-
$
-
Note
11 –
Related Party Transactions
Both
Yosepha Shahak Ravid and Nicholas Booth are members of DisperSolar LLC, a California limited liability company ("DisperSolar"),
and are named inventors of the acquired patents from Dispersolar, discussed below. Effective July 1, 2021, Ms. Shahak Ravid, our Chief
Science Officer, and Mr. Booth, our Chief Technology Officer, were employed by us.
The
Company subleases its office space from an individual who is personally indebted to the Company's Chief Executive Officer. During
the year ended December 31, 2021, the Company directed rent payments totaling $
45,000
to Mr. Destler as partial repayment of the individual's
indebtedness.
During
the year ended December 31, 2021, the Company reimbursed the Company's Chief Executive Officer $
29,000
for contributions made on
behalf of the Company to certain members of the United States Congress.
On
March 15, 2021, we entered into a consulting agreement with Mr. Klausner to provide the services to develop the Company's financial
model and corporate finance strategy and work on such matters as may be requested from time to time by us. The term of the consulting
agreement was three months and expired on June 15, 2021. Mr. Klausner received
30,000
shares of the Opti-Harvest Inc. common stock for
his services, estimated to have a fair value of approximately $
60,000
. On July 1, 2021, Mr. Klausner was appointed to our Board of Directors
and appointed Chairman of the Audit Committee.
On
May 17, 2021, Mr. Handy was hired by us as our Chief Financial Officer and Director of Operations. Before Mr. Handy's employment
with us, Mr. Handy provided services to us as a consultant to help us prepare for our financial statement audits and prepare our financial
statements. During the year ended December 31, 2021, and prior to his date of employment with the Company, Mr. Handy was paid approximately
$
6,000
.
F-
25
Aaron
Danks, son of a director of the Company, was paid for services provided to the Company. Aaron Danks was paid $
26,000
for services during
the year ended December 31, 2021. During the year ended December 31, 2020, the Company paid for Aaron Danks medical insurance premiums
of $
2,700
.
On
December 31, 2019, the Company had a due from related parties balance of $
68,000
. Related parties are comprised of Jonathan Destler,
the Company's CEO, and Touchstone Advisors, Inc., a Nevada Corporation, for which Mr. Destler is the owner and president. The due
from related parties balance of $
68,000
at December 31, 2019 represents advances to Mr. Destler and Touchstone Advisors to purchase professional
services on behalf of the Company. During the year ended December 31, 2020, $
68,000
was used to pay for professional services provided
to the Company leaving no remaining balance at December 31, 2020.
Note
12 –
Subsequent Events
The
Company has evaluated subsequent events occurring from January 1, 2022, through February 28, 2022, the date of the audit opinion
letter.
Employee
Option Grants
Subsequent
to December 31, 2021, the Company granted its new employee the option to purchase an aggregate of
50,000
shares of common stock (the
"Option Shares") under the Company's 2016 Equity Incentive Plan, at an exercise price of $
2.00
per share. The Options
Shares expire
five years
from the date issued and vest ratably over
twelve months
from the date issued.
Loan
Payable
On
January 20, 2022, the Company financed the purchase of a vehicle for $
49,000
. The loan term is for
71
months, annual interest rate of
15.54
%, with monthly principal and interest payments of $
1,066
, and secured by the purchased vehicle.
F-
26
OPTI-HARVEST,
INC.
CONDENSED
BALANCE SHEETS
(Amounts
rounded to nearest thousands, except share amounts)
June 30, 2022
December 31, 2021
(Unaudited)
ASSETS
Current Assets:
Cash
$
729,000
$
1,715,000
Accounts receivable
9,000
18,000
Inventory
516,000
-
Prepaid expense and other current assets
45,000
87,000
Total Current Assets
1,299,000
1,820,000
Property and equipment, net of accumulated depreciation of $
824,000
and $
577,000
, respectively
1,287,000
1,158,000
Vendor deposits
-
277,000
Deferred offering costs
228,000
186,000
Total Assets
$
2,814,000
$
3,441,000
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)
Current Liabilities:
Accounts payable and accrued expenses
$
1,794,000
$
986,000
Convertible notes payable, net of debt discount of $
819,000
and $
2,326,000
, respectively
2,772,000
1,265,000
Current portion of loan payable
13,000
8,000
Total Current Liabilities
4,579,000
2,259,000
Loan payable, less current portion
63,000
25,000
Total Liabilities
4,642,000
2,284,000
Commitments and Contingencies
Shareholders' Equity (Deficit)
Preferred stock, $
0.0001
par value,
1,000,000
shares authorized;
1
share of Series A issued and outstanding at June 30, 2022 and December 31, 2021, respectively
-
-
Common stock, $
0.0001
par value,
100,000,000
shares authorized;
33,736,399
and
32,405,146
shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively
3,000
3,000
Additional paid-in-capital
25,076,000
20,344,000
Accumulated deficit
(
26,907,000
)
(
19,190,000
)
Total Shareholders' Equity (Deficit)
(
1,828,000
)
1,157,000
Total liabilities and Shareholders' Equity (Deficit)
$
2,814,000
$
3,441,000
The
accompanying notes are an integral part of these financial statements.
F-
27
OPTI-HARVEST,
INC.
CONDENSED
STATEMENTS OF OPERATIONS
For
the Six Months Ended June 30, 2022 and 2021
(Unaudited)
(Amounts
rounded to nearest thousands, except share and per share amounts)
Six Months Ended June 30,
2022
2021
Net Sales
$
20,000
$
13,000
Cost of goods sold
26,000
50,000
Gross loss
(
6,000
)
(
37,000
)
Operating expenses:
Selling, general and administrative expense
4,120,000
3,536,000
Research and development expense
1,257,000
1,191,000
Total operating expenses
5,377,000
4,727,000
Loss from operations
(
5,383,000
)
(
4,764,000
)
Other income and (expenses)
Gain on forgiveness of SBA PPP loan
-
38,000
Financing costs
(
611,000
)
-
Interest expense
(
1,723,000
)
(
3,000
)
Total other income (expense)
(
2,334,000
)
35,000
Net Loss
$
(
7,717,000
)
$
(
4,729,000
)
Loss per share – basic and diluted
$
(
0.24
)
$
(
0.16
)
Weighted average number of shares outstanding – basic and diluted
32,820,329
29,680,652
The
accompanying notes are an integral part of these financial statements.
F-
28
OPTI-HARVEST,
INC.
CONDENSED
STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT)
For
the Six Months Ended June 30, 2022 and 2021
(Unaudited)
(Amounts
rounded to nearest thousands, except share amounts)
Common Stock
Preferred Stock
Additional
Paid In
Accumulated
Total
Shareholders' Equity
Shares
Amount
Shares
Amount
Capital
Deficit
(Deficit)
Balance, December 31, 2021
32,405,146
$
3,000
1
$
-
$
20,344,000
$
(
19,190,000
)
$
1,157,000
Fair value of vested options and warrants issued for services
-
-
1,402,000
1,402,000
Fair value of vested restricted stock units
-
-
75,000
75,000
Fair value of common shares issued for services
322,500
-
-
968,000
968,000
Fair value of common shares issued for financing costs
203,503
-
-
611,000
611,000
Common shares issued in the exercise of warrants
740,250
-
-
1,481,000
-
1,481,000
Common shares issued in private offerings
65,000
-
-
195,000
-
195,000
Net Loss
(
7,717,000
)
(
7,717,000
)
Balance, June 30, 2022 (Unaudited)
33,736,399
$
3,000
1
$
-
$
25,076,000
$
(
26,907,000
)
$
(
1,828,000
)
Common Stock
Preferred Stock
Additional
Paid In
Accumulated
Total Shareholders'
Shares
Amount
Shares
Amount
Capital
Deficit
Equity
Balance, December 31, 2020
28,956,158
$
3,000
1
$
-
$
9,105,000
$
(
9,137,000
)
$
(
29,000
)
Fair value of vested stock options
-
-
-
322,000
-
322,000
Fair value of common shares issued for services
826,000
-
-
1,652,000
-
1,652,000
Common shares issued in private offerings
2,372,000
-
-
4,794,000
-
4,794,000
Net Loss
(
4,729,000
)
(
4,729,000
)
Balance, June 30, 2021
(Unaudited)
32,154,158
$
3,000
1
$
-
$
15,873,000
$
(
13,866,000
)
$
2,010,000
The
accompanying notes are an integral part of these financial statements.
F-
29
OPTI-HARVEST,
INC.
CONDENSED
STATEMENTS OF CASH FLOWS
For
the Six Months Ended June 30, 2022 and 2021
(Unaudited)
(Amounts
rounded to nearest thousands)
Six Months Ended June 30,
2022
2021
Cash Flows from Operating Activities
Net loss
$
(
7,717,000
)
$
(
4,729,000
)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation
247,000
156,000
Change in inventory reserve
-
45,000
Amortization of debt discount
1,507,000
-
Financing costs
611,000
-
Fair value of common stock issued for services
968,000
1,652,000
Fair value of vested options and warrants
1,402,000
322,000
Fair value of vested restricted stock units
75,000
-
Gain on forgiveness of SBA PPP loan
-
(
38,000
)
Changes in operating assets and liabilities
Accounts receivable
9,000
1,000
Inventory
(
486,000
)
(
64,000
)
Prepaids and other current assets
42,000
(
207,000
)
Accounts payable and accrued expenses
808,000
4,000
Net cash used in operating activities
(
2,534,000
)
(
2,858,000
)
Cash Flows from Investing Activities
Purchase of property and equipment
(
80,000
)
(
16,000
)
Net cash used in investing activities
(
80,000
)
(
16,000
)
Cash Flows from Financing Activities
Proceeds from sale of common stock
195,000
4,794,000
Proceeds from exercise of warrants
1,481,000
-
Deferred offering costs
(
42,000
)
-
Repayment of loans payable
(
6,000
)
(
4,000
)
Repayment of patent purchase obligation
-
(
100,000
)
Net cash provided by financing activities
1,628,000
4,690,000
Net increase (decrease) in cash
(
986,000
)
1,816,000
Cash beginning of period
1,715,000
403,000
Cash end of period
$
729,000
$
2,219,000
Supplemental disclosures of cash flow information:
Cash paid for interest
$
3,000
$
3,000
Cash paid for income taxes
$
-
$
-
Non-Cash Investing and Financing Activities:
Reclassification of vendor deposits to property and equipment
$
247,000
$
-
Reclassification of vendor deposits to inventory
$
30,000
$
-
Issuance of loan payable for vehicle purchase
$
49,000
$
-
The
accompanying notes are integral part of these financial statements.
F-
30
OPTI-HARVEST,
INC.
NOTES
TO FINANCIAL STATEMENTS
For
the Six Months Ended June 30, 2022 and 2021
(Unaudited)
(Amounts
rounded to nearest thousands, except share and per share amounts)
Note
1 –
Basis of Presentation and Liquidity
The
accompanying interim condensed financial statements of Opti-Harvest, Inc. (the "Company", "we", "us",
or "our"), are unaudited, but in the opinion of management contain all adjustments, including normal recurring adjustments,
necessary to present fairly our financial position at June 30, 2022 and the results of operations and cash flows for the six months ended
June 30, 2022 and 2021. The balance sheet as of December 31, 2021 is derived from the Company's audited financial statements included
elsewhere in this filing.
Certain
information and footnote disclosures normally included in financial statements that have been prepared in accordance with accounting
principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of
the Securities and Exchange Commission regarding interim financial reporting. We believe that the disclosures contained in these condensed
financial statements are adequate to make the information presented herein not misleading. For further information, refer to the financial
statements and the notes thereto included in the Company's registration statement.
The
results of operations for the six months ended June 30, 2022 are not necessarily indicative of the results of operations to be expected
for the full fiscal year ending December 31, 2022.
COVID-19
Considerations
During
the six months ended June 30, 2022, the COVID-19 pandemic did not have a material net impact on the Company's operating results.
In the future, the pandemic may cause reduced demand for the Company's products if, for example, the pandemic results in a recessionary
economic environment which negatively effects the consumers who purchase our products. The Company has not observed any material impairments
of its assets or a significant change in the fair value of its assets due to the COVID-19 pandemic.
The
Company's ability to operate without significant negative operational impact from the COVID-19 pandemic will in part depend on
its ability to protect its employees and its supply chain. The Company has endeavored to follow the recommended actions of government
and health authorities to protect its employees. Since the onset of the COVID-19 pandemic, the Company maintained the consistency of
its operations. However, the uncertainty resulting from the pandemic could result in an unforeseen disruption to its workforce and supply
chain (for example an inability of a key supplier or transportation supplier to source and transport materials) that could negatively
impact the Company's operations.
Going
Concern
The
accompanying condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets
and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying condensed financial
statements, during the six months ended June 30, 2022, the Company recorded a net loss of $
7,717,000
,
used cash in operations of $
2,534,000
,
and had a shareholders' deficit of $
1,828,000
on June 30, 2022. These factors raise substantial doubt about
the Company's ability to continue as a going concern within one year after the date of the financial statements being issued. In
addition, the Company's independent registered public accounting firm, in its report on the Company's December 31, 2021 financial
statements, raised substantial doubt about the Company's ability to continue as a going concern. The ability of the Company to
continue as a going concern is dependent upon the Company's ability to raise additional funds and implement its business plan.
The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.
F-
31
At
June 30, 2022, the Company had cash on hand in the amount of $
729,000
. Subsequent to June 30, 2022, the Company received net proceeds
of approximately $
1,105,000
from the sale of common stock (See Note 11). The Company believes it has enough cash to sustain operations
through November 30, 2022. The continuation of the Company as a going concern is dependent upon its ability to obtain necessary debt
or equity financing to continue operations until it begins generating positive cash flow. No assurance can be given that any future financing
will be available or, if available, that it will be on terms that are satisfactory to the Company.
Even
if the Company is able to obtain additional financing, it may contain undue restrictions on our operations, in the case of debt financing
or cause substantial dilution for our shareholders, in case or equity financing.
Note
2 –
Significant Accounting Policies
Use
of Estimates
The
preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date
of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ
from those estimates. Those estimates and assumptions include estimates for reserves of uncollectible accounts, inventory obsolescence,
depreciable lives of property and equipment, analysis of impairments of recorded long-term tangible and intangible assets, realization
of deferred tax assets, accruals for potential liabilities and assumptions made in valuing stock instruments issued for services, and
assumptions used in the determination of the Company's liquidity.
Inventory
Inventory
is stated at the lower of cost or net realizable value, with cost determined on a first-in, first-out ("FIFO") basis. We
regularly review our inventory quantities on hand and record a provision for excess and obsolete inventory based primarily on our estimated
forecast of product demand and our ability to sell the product(s) concerned. Demand for our products can fluctuate significantly. Factors
that could affect demand for our products include unanticipated changes in consumer preferences, general market conditions or other factors,
which may result in cancellations of advance orders or a reduction in the rate of reorders placed by customers. Additionally, our management's
estimates of future product demand may be inaccurate, which could result in an understated or overstated provision required for excess
and obsolete inventory. At June 30, 2022, the Company determined that no reserve for obsolete inventory was necessary.
Deferred
Offering Costs
Deferred
offering costs consist principally of legal, accounting, and underwriters' fees incurred related to equity financings. These deferred
offering costs are deferred and then charged against the gross proceeds received once the equity financing occurs or are charged to expense
if the financing does not occur.
Revenue
Recognition
The
Company recognizes revenue in accordance with Accounting Standards Codification (ASC) 606,
Revenue from Contracts with Customers
("ASC 606"). The underlying principle of ASC 606 is to recognize revenue to depict the transfer of goods or services to customers
at the amount expected to be collected. ASC 606 creates a five-step model that requires entities to exercise judgment when considering
the terms of contract(s), which include (1) identifying the contract or agreement with a customer, (2) identifying our performance obligations
in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price to the separate performance
obligations, and (5) recognizing revenue as each performance obligation is satisfied.
The
Company does not have any significant contracts with customers requiring performance beyond delivery, and contracts with customers contain
no incentives or discounts that could cause revenue to be allocated or adjusted over time. Shipping and handling activities are performed
before the customer obtains control of the goods and therefore represent a fulfillment activity rather than a promised service to the
customer. Revenue and costs of sales are recognized when control of the products transfers to our customer, which generally occurs upon
shipment from our facilities. The Company's performance obligations are satisfied at that time.
F-
32
All
of the Company's products are offered for sale as finished goods only, and there are no performance obligations required post-shipment
for customers to derive the expected value from them.
The
Company does not allow for returns, except for damaged products when the damage occurred pre-fulfillment. Damaged product returns have
historically been insignificant. Because of this, the stand-alone nature of our products, and our assessment of performance obligations
and transaction pricing for our sales contracts, we do not currently maintain a contract asset or liability balance for obligations.
We assess our contracts and the reasonableness of our conclusions on a quarterly basis.
Loss
per Common Share
Basic
earnings (loss) per share is computed by dividing the net income (loss) applicable to common shareholders by the weighted average number
of shares of common stock outstanding during the period. Diluted earnings (loss) per share is computed by dividing the net income applicable
to common shareholders by the weighted average number of common shares outstanding plus the number of additional common shares that would
have been outstanding if all dilutive potential common shares had been issued, using the treasury stock method. Potential common shares
are excluded from the computation when their effect is antidilutive.
For
the six months ended June 30, 2022 and 2021, the calculations of basic and diluted loss per share are the same because potential dilutive
securities would have had an anti-dilutive effect. The potentially dilutive securities consisted of the following:
June 30, 2022
June 30, 2021
Warrants
5,870,610
2,264,375
Options
4,540,000
4,325,000
Restricted stock units
200,000
-
Senior convertible notes
1,627,522
-
Series A Preferred
1
1
Total
12,238,133
6,789,376
Stock
Compensation Expense
The
Company periodically issues stock options to employees and non-employees in non-capital raising transactions for services and for financing
costs. The Company accounts for such grants issued and vesting based on ASC 718,
Compensation-Stock Compensation
whereby the value
of the award is measured on the date of grant and recognized for employees as compensation expense on the straight-line basis over the
vesting period. The Company recognizes the fair value of stock-based compensation within its Statements of Operations with classification
depending on the nature of the services rendered.
The
fair value of each option or warrant grant is estimated using the Black-Scholes option-pricing model. The Company is a private company
and lacks company-specific historical and implied volatility information. Therefore, it estimates its expected stock volatility based
on the historical volatility of a publicly traded set of peer companies within the agriculture technology industry with characteristics
similar to the Company. The expected term of the Company's stock options has been determined utilizing the "simplified"
method for awards that qualify as "plain-vanilla" options. The expected term of stock options granted to non-employees is
equal to the contractual term of the option award. The risk-free interest rate is determined by reference to the U.S. Treasury yield
curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend
yield is zero, based on the fact that the Company has never paid cash dividends and does not expect to pay any cash dividends in the
foreseeable future.
During
the six months ended June 30, 2022 and 2021, common shares of the Company were not publicly traded. As such, during the period, the Company
estimates the fair value of common stock using an appropriate valuation methodology, in accordance with the framework of the American
Institute of Certified Public Accountants' Technical Practice Aid, Valuation of Privately-Held Company Equity Securities Issued
as Compensation. Each valuation methodology includes estimates and assumptions that require the Company's judgment. These estimates
and assumptions include a number of objective and subjective factors, including external market conditions, guideline public company
information, the prices at which the Company sold its common stock to third parties in arms' length transactions, the rights and
preferences of securities senior to the Company's common stock at the time, and the likelihood of achieving a liquidity event such
as an initial public offering or sale. Significant changes to the assumptions used in the valuations could result in different fair values
of stock options at each valuation date, as applicable.
F-
33
Research
and Development
Research
and development costs include advisors, consultants, software licensing, product design and development, data monitoring and collection,
field trial installations, and travel related expenses. Research and development costs are expensed as incurred. During the six months
ended June 30, 2022 and 2021, research and development costs were approximately $
1,257,000
and $
1,191,000
, respectively.
Fair
Value of Financial Instruments
The
Company uses various inputs in determining the fair value of its financial assets and liabilities and measures these assets on a recurring
basis. Financial assets recorded at fair value are categorized by the level of subjectivity associated with the inputs used to measure
their fair value. ASC 820 defines the following levels of subjectivity associated with the inputs:
Level
1—Quoted prices in active markets for identical assets or liabilities.
Level
2—Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly.
Level
3—Unobservable inputs based on the Company's assumptions.
The
carrying amounts of financial assets and liabilities, such as cash, accounts receivable, accounts payable and accrued liabilities, and
patent purchase obligation approximate their fair values because of the short maturity of these instruments. The carrying values of loan
and convertible notes payables approximate their fair values because interest rates on these obligations are based on prevailing market
interest rates.
Recent
Accounting Pronouncements
In
September 2016, the FASB issued ASU 2016-13,
Measurement of Credit Losses on Financial Instruments
. ASU 2016-13 requires entities
to use a forward-looking approach based on current expected credit losses ("CECL") to estimate credit losses on certain types
of financial instruments, including trade receivables. This may result in the earlier recognition of allowances for losses. ASU 2016-13
is effective for the Company beginning January 1, 2023, and early adoption is permitted. The Company does not believe the potential impact
of the new guidance and related codification improvements will be material to its financial position, results of operations and cash
flows.
In
May 2021, the FASB issued ASU 2021-04 "Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50),
Compensation— Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic
815- 40) Issuer's Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options"
("ASU 2021-04"). ASU 2021-04 provides guidance as to how an issuer should account for a modification of the terms or conditions
or an exchange of a freestanding equity-classified written call option (i.e., a warrant) that remains equity classified after modification
or exchange as an exchange of the original instrument for a new instrument. An issuer should measure the effect of a modification or
exchange as the difference between the fair value of the modified or exchanged warrant and the fair value of that warrant immediately
before modification or exchange and then apply a recognition model that comprises four categories of transactions and the corresponding
accounting treatment for each category (equity issuance, debt origination, debt modification, and modifications unrelated to equity issuance
and debt origination or modification). ASU 2021-04 is effective for all entities for fiscal years beginning after December 15, 2021,
including interim periods within those fiscal years. An entity should apply the guidance provided in ASU 2021-04 prospectively to modifications
or exchanges occurring on or after the effective date. The Company adopted ASU 2021-04 effective January 1, 2022. The adoption of ASU
2021-04 did not have any impact on the Company's financial statement presentation or disclosures.
F-
34
Other
recent accounting pronouncements issued by the FASB, its Emerging Issues Task Force, the American Institute of Certified Public Accountants,
and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's
present or future financial statements.
Concentration
Risks
Cash
includes cash on hand and cash in banks and are reported as "Cash" in the balance sheets. The balance of cash on hand is
not insured by the Federal Deposit Insurance Corporation. The balance of cash in banks is insured by the Federal Deposit Insurance Corporation
for up to $250,000.
The
Company performs a regular review of customer activity and associated credit risks and does not require collateral or other arrangements.
Five customers accounted for
24
%,
21
%,
16
%,
12
% and
10
% of the Company's sales during the six months ended June 30, 2022. No other
customers accounted for sales in excess of
10
% for the six months ended June 30, 2022 and 2021.
The
Company's uses two vendors to manufacture its products available for sale, inventory, and our products used in field trials for
research and development purposes.
Segment
Reporting
The
Company operates in one segment for the manufacture and distribution of our products. In accordance with the "Segment Reporting"
Topic of the ASC, the Company's chief operating decision maker has been identified as the Chief Executive Officer and President,
who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing
guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information
quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the
entity holds material assets and reports revenue. All material operating units qualify for aggregation under "Segment Reporting"
due to their similar customer base and similarities in economic characteristics; nature of products and services; and procurement, manufacturing,
and distribution processes. Since the Company operates in one segment, all financial information required by "Segment Reporting"
can be found in the accompanying financial statements.
Note
3 –
Inventory
Inventory,
which is comprised of finished product, is valued at the lower of cost (first-in, first-out) or net realizable value, and net of reserves
is comprised of the following:
June 30, 2022
December 31, 2021
Inventory
$
516,000
$
-
Reserve for obsolescence
-
-
Total inventory
$
516,000
$
-
During
the six months ended June 30, 2022, the Company determined that no reserve for obsolete inventory was necessary. During the six months
ended June 30, 2021, the Company recorded a reserve for slow moving and potentially obsolete inventory of $
45,000
, which is included
in cost of goods sold in the accompanying statement of operations.
Note
4 –
Property and Equipment
Property
and equipment is comprised of the following:
June 30, 2022
December 31, 2021
Tools and molds
$
1,990,000
$
1,682,000
Computer equipment
8,000
8,000
Vehicles
113,000
45,000
Total cost
2,111,000
1,735,000
Accumulated depreciation
(
824,000
)
(
577,000
)
Net book value
$
1,287,000
$
1,158,000
F-
35
Depreciation
expense for the six months ended June 30, 2022 and 2021 was $
247,000
and $
156,000
, respectively. On January 20, 2022, the Company financed
the purchase of a vehicle for $
49,000
(see Note 7). During the six months ended June 30, 2022, the Company reclassified $
247,000
from
vendor deposits to property and equipment.
Note
5 –
Intangible Assets and Contingent Earnout Liability
DisperSolar
LLC (Related Party)
On
April 7, 2017 (as amended on December 6, 2018), the Company and DisperSolar LLC (the "Seller"), a California limited liability
company, entered into a Patent Purchase Agreement (the "Agreement") pursuant to which the Company acquired certain patents
(intellectual property) of the Seller. The Seller developed the patents for harvesting, transmission, spectral modification and delivery
of sunlight to shaded areas of plants. Per the Agreement, the Company was obligated to pay milestone payments, earnout payments, and
royalties.
Earnout
Payments
The
Company is obligated to pay total
earnout payments of $
800,000
payable on the on-going basis at a rate of 50% of gross margin and/or
license revenue from the date of the first commercial sale of a covered product or the first receipt by the Company of license revenue
,
until the aggregate combined gross margin and license revenue reach $
1.6
million.
Royalties
The
Company will pay to Seller royalties as follows:
(i)
Following
    the recognition by the Company of the first $
1.6
million in aggregate combined gross margin and license revenue, and until the Company
    pays to Seller an aggregate amount in royalties of $
30
million, the Company shall pay to Seller royalties on sales of covered products
    at a rate of 8% of gross margin.
(ii)
Once
    the Company has paid to Seller an aggregate amount in royalties of $
30
million, the Company shall pay to Seller royalties on sales
    of covered products at a rate of
4.75
% of gross margin until the earlier of (x) such time as covered products are not covered by
    any claims of any assigned patent, and (y) the date of the consummation of a Strategic Transaction.
As
of June 30, 2022 and December 31, 2021, the Company recorded no earnout or royalties payment obligations as no gross margin was realized.
Strategic
Transaction
The
Company will pay to Seller
7.6
% of all license consideration received by the Company until the date of the consummation of a Strategic
Transaction. "Strategic Transaction" means a transaction or a series of related transactions that results in an acquisition
of the Company by a third party, including by way of merger, purchase of capital stock or purchase of assets or change of control or
otherwise.
Strategic
Transaction Consideration. "Strategic Transaction Consideration" means any cash consideration and the fair market value of
any non-cash consideration paid to the Company by any acquirer as consideration for the Strategic Transaction, less the costs and expenses
incurred by the Company for the purpose of consummating the Strategic Transaction. The Company will pay to Seller a percentage of all
license consideration received by the Company as follows:
(i)
3.8
%
    of the first $
50
million of the Strategic Transaction Consideration;
F-
36
(ii)
5.7
%
    of the next $
100
million of the Strategic Transaction Consideration (i.e. over $
50
million and up to $
150
million);
(iii)
7.6
%
    of Strategic Transaction Consideration over $
150
million.
Inventor
Royalty (Related Party)
On
July 5, 2019, the Company and Nicholas Booth ("Mr. Booth") entered into a Royalty Agreement. Mr. Booth is a member of Dispersolar,
LLC and a named inventor of the acquired patents from Dispersolar, LLC discussed above. Effective July 1, 2021, Mr. Booth was employed
by the Company as its Chief Technology Officer.
The
Company will pay Mr. Booth a percentage of all License Consideration received by the Company as follows:
(a)
Once the Company has paid to DisperSolar an aggregate amount in royalties of $
30
million under the Agreement, the Company will pay to
Booth a percentage of all royalties on sales of Covered Products at a rate of
0.25
% of Gross Margin until the earlier of (x) such time
as Covered Products are not covered by any claims of any Assigned Patent, and (y) the date of the consummation of a Strategic Transaction.
(b)
Opti-Harvest will pay to Booth a percentage of all License Consideration received by the Company on the same terms as payable by the
Company to DisperSolar under the Agreement, except that the percentages of License Consideration due to Booth shall be as follows:
(a)
0.4
%
    of all License Consideration received by Opti-Harvest until the date of consummation of a Strategic Transaction;
(b)
0.2
%
    of the first $
50
million of the Strategic Transaction Consideration;
(c)
0.3
%
    of the next $
100
million of the Strategic Transaction Consideration (i.e. over $
50
million and up to $
150
million); and
(d)
0.4
%
    of Strategic Transaction Consideration over $
150
million.
As
of June 30, 2022 and December 31, 2021, no amounts were due for earnouts or royalties.
Both
Yosepha Shahak Ravid and Nicholas Booth are members of the Seller, and are named inventors of the acquired patents from the Seller, discussed
above. Effective July 1, 2021, Ms. Shahak Ravid, our Chief Science Officer, and Mr. Booth, our Chief Technology Officer, were employed
by the Company.
Note
6 –
Senior Convertible Notes Payable and Warrants
Senior
convertible notes payable is comprised of the following:
June 30, 2022
December 31, 2021
Senior convertible notes payable
$
3,591,000
$
3,591,000
Less debt discount
(
819,000
)
(
2,326,000
)
Total senior convertible notes payable, net
$
2,772,000
$
1,265,000
During
the year ended December 31, 2021, the Company sold approximately $
3,591,000
of Senior Convertible Promissory Notes (the "Notes")
and
3,591,235
warrants (the "Warrants"). The Company received net proceeds of $
3,034,000
after deducting an original issue
discount of
15
%, or $
539,000
, and legal fees of $
18,000
, which was recorded as a debt discount. Each Warrant is exercisable at a price
(the "Exercise Price") equal to
115
% of its initial public offering price, currently estimated to be $
3.00
per share. The
Company determined the fair value of the Warrants to be approximately $
13.6
million of which the relative fair value of $
2.5
million
was allocated and recorded as a component of debt discount. There were no transactions related to the principal balance of the Notes
during 2022, and as such, balance of the Notes at June 30, 2022 was $
3,591,000
.
The
holder of the Warrants shall have the right to purchase up to the number of shares that equals the quotient obtained by dividing: (i)
the Warrant Coverage Amount, by (ii) the Conversion Price. The "Warrant Coverage Amount" shall mean the amount obtained by
multiplying: (A) one hundred percent (100%); by (B) aggregate principal amount of the Holder's Note(s). The conversion price in
effect on any Conversion Date shall be equal to
80
% of the offering price per share of common stock in our initial public offering.
F-
37
Each
Note is convertible, in the sole discretion of the holder of the Note, into shares of our common stock at a purchase price equal to
80
%
of the offering price of the initial public offering price currently estimated to be $
3.00
per share. Each Note, issued at an original
issue discount of
15
%, carries interest at a rate of
12
% per annum, and any interest payable under the Note shall automatically accrue
and be capitalized to the principal amount of the Note, and shall thereafter be deemed to be a part of the principal amount of the Note,
unless such interest is paid in cash on or prior to the maturity date of the Note.
The
Notes mature
12
months from the date of the Notes, provided, however, that noteholders have the right to call the Notes prior to maturity
starting from the earlier of (i) the consummation of the first underwritten public offering pursuant to an effective registration statement
under the Securities Act of 1933, as amended, covering the offer and sale by the Company of not less than $
10
million of its equity securities,
as a result of or following which common stock shall be listed on the Nasdaq Stock Market, and (ii)
December 15, 2021. Additionally,
each Warrant contains a cashless exercise provision, which is effective if the shares underlying the Warrant are not covered by a registration
statement 6 months from the date of issuance of the Warrant.
On May 16, 2022, the Company entered into an amendment to extend the right
to call provision in its senior secured convertible notes from December 15, 2021 to June 15, 2022, in exchange for issuing its senior
convertible note holders an aggregate of
203,503
shares of common stock with a fair value of approximately $
611,000
at the date of grant,
or $
3.00
per common share. The $
611,000
was recorded as a financing cost, a component of other expense, in the accompanying condensed
statements of operations.
The
shares of common stock underlying the Notes and the Warrants are subject to registration rights, and such shares must be registered within
90 days after the effectiveness of the Company's initial public offering. If the Company fails to register the shares within 90
days, the Company agreed to pay a penalty of a cash payment equal to 0.02857% of the principal amount and interest due and owing under
any Note held by the Holder or that number shares of common stock of the Company equal 1% of the shares of common stock underlying any
Note and Warrant held by the Holder, in total amount per week paid in, whichever is greater.
Each
Note and Warrant holder has (i) the right of first refusal to purchase up to
20
% of its pro rata share of new securities the that company
offers, which right expires upon the consummation of an underwritten initial public offering by the Company or a change in control of
the Company, and (ii) the right to be repaid any and all principal and interest due by the Company from any and all proceeds resulting
from any sale of assets and any sale and issuance of debt or equity securities.
The
total of the original issue discount of $
539,000
, legal fees of $
18,000
, and the allocated relative fair value of warrants issued of
$
2.5
million, or an aggregate of $
3.0
million, were capitalized and recorded as a debt discount and are amortized over the remaining
life of the Notes. The remaining unamortized debt discount balance was $
2.3
million as of December 31, 2021. Amortization of debt discount
was approximately $
1.5
million for the six months ended June 30, 2022, which was recorded as a component of interest expense in the accompanying
condensed statement of operations. The remaining unamortized debt discount balance was $
819,000
as of June 30, 2022.
The
accrued interest balance was $
101,000
at December 31, 2021. During the six months ended June 30, 2022, the Company added $
214,000
of
accrued interest, leaving an accrued interest balance of $
315,000
at June 30, 2022. Accrued interest in included in accounts payable
and accrued expenses in the accompanying condensed balance sheets.
As
of June 30, 2022,
1,627,522
shares of common stock were potentially issuable under the conversion terms of the Notes.
Note
7 –
Loans payable
Loans
payable is comprised of the following:
June 30, 2022
December 31, 2021
Loans payable
$
76,000
$
33,000
Less current portion
(
13,000
)
(
8,000
)
Noncurrent portion
$
63,000
$
25,000
F-
38
On
November 20, 2020, the Company financed the purchase of a vehicle for $
40,000
. The loan term is for
59
months, annual interest rate of
4.49
%, with monthly principal and interest payments of $
745
, and secured by the purchased vehicle. The loan balance was $
33,000
at December
31, 2021.
On
January 20, 2022, the Company financed the purchase of second vehicle for $
49,000
. The loan term is for
71
months, annual interest rate
of
15.54
%, with monthly principal and interest payments of $
1,066
, and secured by the purchased vehicle. During the six months ended
June 30, 2022, the Company made principal payments of $
6,000
, leaving a loan balance of $
76,000
at June 30, 2022.
Note
8 –
Shareholders' Equity (Deficit)
Common
Shares Issued on Exercise of Warrants
During
the six months ended June 30, 2022, the Company temporarily reduced the exercise price of certain warrants issued as part of the Company's
$
2.00
private offering, described below, from $
3.00
per share to $
2.00
per share. The Company received proceeds of approximately $
1.5
million on the exercise of
740,250
warrants for the purchase of
740,250
shares of common stock, at exercise price of $
2.00
per share.
Common
Shares Issued on Private Offerings
During
the six months ended June 30, 2022, the Company received net proceeds of approximately $
195,000
on the sale of
65,000
shares of common
stock at $
3.00
per share, as part of its private offerings. As part of the Company's $
3.00
private offering, each participating
shareholder is entitled to a warrant to purchase up to fifty percent (50%) of the number of common shares purchased, at $
4.00
per share,
and which expires on
December 31, 2023
. As such, the Company issued
32,500
warrants during the period.
During
the six months ended June 30, 2021, the Company received net proceeds of approximately $
4.8
million on the sale of
2,372,000
shares of
common stock at $
2.00
per share, as part of its private offerings. As part of the Company's $
2.00
private offering, each participating
shareholder is entitled to a warrant to purchase up to fifty percent (50%) of the number of common shares purchased, at $
3.00
per share,
and which expires on
December 31, 2022
.
Common
Shares Issued for Financing Costs
On
May 16, 2022, the Company entered into an amendment (see Note 6) to extend the call provisions in its senior secured convertible notes
to June 15, 2022, in exchange for issuing its senior convertible note holders an aggregate of
203,503
shares of common stock with a fair
value of approximately $
611,000
at the date of grant, or $
3.00
per common share. The $
611,000
was recorded as a financing cost, a component
of other expense, in the accompanying condensed statements of operations.
Common
Shares Issued for Services
During
the six months ended June 30, 2022, the Company entered into various consulting agreements with third parties ("Consultants")
pursuant to which these Consultants provided business development, sales promotion, introduction to new business opportunities, strategic
analysis and sales and marketing activities. In addition, the Company issued shares to a director for board service. During the six months
ended June 30, 2022, the Company issued
122,500
shares of common stock, with a fair value of approximately $
368,000
at date of grant
related to the consulting agreements. In addition, on March 18, 2022, the Company issued Kingdom Building, Inc. ("KBI"),
as part of a Termination Agreement and Release,
200,000
shares of common stock, with a fair value of approximately $
600,000
. The Company
retained KBI on April 1, 2021, to advise, counsel and inform designated officers and employees of the Company as it relates to financial
markets, competitors, business acquisitions and other aspects of or concerning the Company's business about which KBI has knowledge
or expertise.
F-
39
During
the six months ended June 30, 2021, the Company entered into various consulting agreements with third parties ("Consultants")
pursuant to which these Consultants provided business development, sales promotion, introduction to new business opportunities, strategic
analysis and sales and marketing activities. In addition, the Company issued shares to a director for board service. During the six months
ended June 30, 2021, the Company issued
826,000
shares of common stock, with a fair value of approximately $
1.7
million at date of grant.
Summary
of Restricted Stock Units
On
May 17, 2022, the Company granted an aggregate of
200,000
restricted stock units (RSU) to its employees and executives pursuant to the
Company's 2022 Stock Incentive Plan, with an aggregate fair value of $
600,000
, based on the Company's current private offering
price. The RSUs vest on the earlier of twelve months from the date of grant, or a strategic transaction including the Company being acquired,
an initial public offering, or a liquidity event more than $
10
million. As of June 30, 2022,
no
shares of common stock were issued. During
the six months ended June 30, 2022, the Company recognized $
75,000
of compensation expense relating to vested RSUs. As of June 30, 2022,
the aggregate amount of unvested compensation related to RSUs was approximately $
525,000
which will be recognized as an expense as the
options vest in future periods through May 17, 2023.
Summary
of Warrants
A
summary of warrants for the six months ended June 30, 2022 is as follows:
Weighted
Number of
Average
Options
Exercise Price
Balance outstanding, December 31, 2021
6,578,360
$
4.97
Warrants granted
32,500
4.00
Warrants exercised
(
740,250
)
2.00
Warrants expired or forfeited
-
-
Balance outstanding, June 30, 2022
5,870,610
$
3.28
Balance exercisable, June 30, 2022
5,770,610
$
3.27
During
the six months ended June 30, 2022, the Company received proceeds of approximately $
1.5
million on the exercise of
740,250
warrants for
the purchase of
740,250
shares of common stock, at exercise price of $
2.00
per share.
During
the six months ended June 30, 2022, the Company recognized $
66,000
of compensation expense relating to vested warrants that were granted
for services in prior periods. As of June 30, 2022, the aggregate amount of unvested compensation related to warrants was approximately
$
27,000
which will be recognized as an expense as the options vest in future periods through December 2022.
As
of June 30, 2022, the outstanding and exercisable warrants have an intrinsic value of $
200,000
and $
200,000
, respectively. The aggregate
intrinsic value was calculated as the difference between the estimated market value of $
3.00
per share as of June 30, 2022, and the exercise
price of the outstanding warrants.
Summary
of Options
A
summary of stock options for the six months ended June 30, 2022 is as follows:
Weighted
Number of
Average
Options
Exercise Price
Balance outstanding, December 31, 2021
4,415,000
$
2.00
Options granted
175,000
2.00
Options exercised
-
-
Options expired or forfeited
(
50,000
)
2.00
Balance outstanding, June 30, 2022
4,540,000
$
2.00
Balance exercisable, June 30, 2022
1,535,833
$
2.00
F-
40
Information
relating to outstanding options at June 30, 2022, summarized by exercise price, is as follows:
Outstanding
Exercisable
Weighted
Weighted
Exercise Price
Life
Average
Average
Per Share
Shares
(Years)
Exercise Price
Shares
Exercise Price
$
2.00
4,540,000
8.52
$
2.00
1,535,833
$
2.00
4,540,000
8.52
$
2.00
1,535,833
$
2.00
On
May 9, 2022, the Employment Agreement with Steve Handy, the Company's Chief Financial Officer and Director of Operations was ratified,
confirmed, and approved. The Employment Agreement is for a two-year period with an initial base salary of $
220,000
per annum and increased by 5% on the first anniversary
of the Employment Agreement. The Employment Agreement includes a cash severance provision of $
100,000
if Mr. Handy's employment is terminated
without cause. The Company granted Mr. Handy stock options to purchase
100,000
shares of common stock under the Company's
2022 Stock Incentive Plan, at an exercise price of $
2.00
per common share, with a vesting period of two
years, and an expiration period of five years. The total fair value of these options at grant date was approximately $
220,000
,
which was determined using a Black-Scholes-Merton option pricing model with the following assumptions: fair value of our stock price
of $
3.00
per share, based on the Company's current
private offering price, the expected term of three years, volatility of
108
%,
dividend rate of
0
%,
and risk-free interest rate of
2.81
%.
During
the six months ended June 30, 2022, the Company granted employees aggregate options to purchase
75,000
shares of common stock under the Company's
2022 Stock Incentive Plan, at an exercise price of $
2.00
per common share, with a vesting period of twelve
months, and an expiration period of five years. The total fair value of these options at grant date was approximately $
306,000
,
which was determined using a Black-Scholes-Merton option pricing model with the following weighted average assumptions: fair value of
our stock price of $
5.00
per share, based on the most recent valuation
report, and valuation discussions with our former underwriters pursuant to our recently withdrawn initial public offering, and the Company's
current private offering price, the expected term of three years, volatility of
115
%,
dividend rate of
0
%,
and risk-free interest rate of
1.63
%.
During
the six months ended June 30, 2022, the Company recognized approximately $
1,337,000
of compensation expense relating to vested stock
options. As of June 30, 2022, the aggregate amount of unvested compensation related to stock options was approximately $
5,269,000
which
will be recognized as an expense as the options vest in future periods through May 2025.
As
of June 30, 2022, the outstanding and exercisable options have an intrinsic value of $
4,540,000
and $
1,536,000
, respectively. The aggregate
intrinsic value was calculated as the difference between the estimated market value of $
3.00
per share as of June 30, 2022, and the exercise
price of the outstanding options.
Note
9 –
Commitments and Contingencies
Legal
Proceedings
We
are engaged from time to time in the defense of lawsuits arising out of the ordinary course and conduct of our business. There is no
action, suit, proceeding, inquiry, or investigation before or by any court, public board, government agency, self-regulatory organization
or body pending or, to the knowledge of the executive officers of our Company or our subsidiary, threatened against our Company, our
common stock, our subsidiary or of our Company or our subsidiary's officers or directors in their capacities as such.
F-
41
Advisor
Agreements
On
July 14, 2021, the Company entered into a three year consulting agreement (the "Agreement") for which the consultant is to
serve on the Company's Advisory Board and provide services as defined in the Agreement. Per the terms of the Agreement, the Company
issued
12,500
restricted shares of common stock to the consultant, with a fair value at grant date was approximately $
25,000
, and granted
options, contingent on the achievement of defined milestones, to purchase
25,000
shares of the Company's common stock on January
1, 2022, options to purchase
30,000
shares of the Company's common stock on July 1, 2022, options to purchase
30,000
shares of
the Company's common stock on January 1, 2023, and options to purchase
30,000
shares of the Company's common stock on July
1, 2023. Each option shall have a term of three (
3
) years, vest immediately upon grant by the Company, and be exercisable at $
2.00
per
share. No options were earned as of June 30, 2022.
ICM
Capital Management, LLC
On
August 24, 2021, the Company entered into an advisor agreement with ICM Capital Management, LLC ("ICM") regarding the role
and compensation of ICM in connection with transactions in which the Company, directly or indirectly through one or more affiliates,
raises debt capital or receives a loan from one or more investors identified by ICM to the Company to raise up to $
2.0
million. The advisor
agreement shall expire on the date specified by either ICM or the Company not less than 30 days prior to the date of termination. The
Company agreed to pay ICM a fee equal to
2.0
% of the total principal amount of the loan to be made by an investor to the Company.
INTE
Securities LLC
On
August 24, 2021, the Company entered into an advisor agreement with INTE Securities LLC ("INTE") regarding the role and compensation
of INTE in connection with equity transactions in which the Company, in each case directly or indirectly through one or more affiliates,
(i) raises equity capital from one or more investors or otherwise issues the Company's capital stock or (ii) otherwise issues instruments
convertible into the Company's capital stock, with the principal purpose of raising capital from one or more investors identified
by INTE to the Company. The advisor agreement shall expire on the date specified by either INTE or the Company not less than 30 days
prior to the date of termination. The Company agreed to pay INTE a fee equal to
4.0
% of the total principal amount of the equity capital
received from an investor by the Company. The INTE fee will be fully earned and due and payable at the initial closing of such transaction
regardless of whether the capital raised is funded at the initial closing or over time.
Corporate
Capital Group, Inc.
On
April 19, 2022, the Company entered into an advisor agreement ("Agreement") with Corporate Capital Group, Inc. ("CCG")
to assist the Company as its non-exclusive financial advisor with regard to a proposed capital investment by third parties introduced
to the Company by CCG (the "Investors"). This authorization includes the possible sale of any of the Company's assets
including its intellectual property, business or equity, debt or other securities. This authorization covers such a sale by means of
any merger, consolidation, recapitalization, joint venture, business combination, exchange offer or purchase or sale or licensing of
securities or assets. Also covered by this authorization is any other transaction resulting in a change of control of the Company or
its assets, securities or business, the acquisition of any shares of its stock or the disposition outside the ordinary course of business
of any of its assets, securities or business. This Agreement shall become effective on the date of execution of this Agreement by the
Company (the "Effective Date") and the term of this Agreement and the appointment provided for herein (the "Term")
shall end at any time after three (3) months following the Effective Date, on thirty days written notice from either party to the other.
Compensation
for Services
1.
The
                                            Company agreed to pay CCG a fee of $
10,000
per month until completion of all contemplated
                                            Transactions or the end of the Term, whichever occurs sooner.
2.
If
                                            any Investor Transaction is consummated (a) during the Term with any Investor; or (b) within
                                            thirty-six months after the end of the Term with any Investor, then:
i)
At
                                            each closing of an Investor Transaction, the Company shall pay CCG or cause CCG to be paid,
                                            a cash fee (the "Investor Transaction Fee") of seven percent (
7
%) of the Aggregate
                                            Consideration (as hereinafter defined) of the Investor Transaction, on the same day as each
                                            payment is received by the Company from the Investor.
F-
42
ii)
In
                                            connection with the exercise of any warrants issued to the Investor in connection with the
                                            Investor Transactions (the "Investor Warrants"), the Company shall pay CCG or
                                            cause CCG to be paid, by wire transfer on the day that the Company receives any payment resulting
                                            from the exercise of the Investor Warrants, a cash fee of seven percent (
7
%) of the Aggregate
                                            Consideration received by the Company in connection with the exercise of the Investor Warrants.
iii)
On
                                            completion of any Transaction, the Company shall issue to CCG or its permitted assignees,
                                            warrants (the "Agent Warrants") to purchase seven percent (7%) of the aggregate
                                            number of shares of common stock of the Company sold (or issuable upon exercise of any convertible
                                            securities sold) in such Investor Transaction at an exercise price equal to one hundred percent
                                            (
100
%) of the purchase price or the conversion price of the securities sold in the Investor
                                            Transaction.
For the avoidance of doubt only, the Agent Warrants shall represent seven percent
                                            (7%) of the stock issued to the Investor and not seven percent (7%) of the total Company
                                            equity. The Agent Warrants shall provide for (a) a five (5) year term, and (b) cashless exercise
                                            provisions, and (c) piggyback and demand registration rights, and (d) standard anti-dilution
                                            protections. The shares of the Common Stock of the Company underlying the Agent Warrants,
                                            if any, (and the shares of Common Stock underlying the securities issuable upon exercise
                                            of the Agent Warrants) shall be registered in the registration statement, if any, filed in
                                            connection with the Investor Transaction
.
Aggregate
Consideration is defined and computed as follows:
●
The
                                            total sale proceeds and other consideration received by the Company and/or holders of its
                                            stock, options, warrants and convertible securities upon the consummation of any Transaction,
                                            and if a portion of such consideration includes contingent payments, Aggregate Consideration
                                            shall also include the face value of such payments as and when they are received by the Company.
●
If
                                            the Aggregate Consideration for the Transaction consists in whole or in part of securities
                                            or other property, for the purposes of calculating the amount of Aggregate Consideration,
                                            the value of such securities or other property will be the value thereof on the day preceding
                                            the consummation of the Transaction as the Company and CCG agree, provided, however, that
                                            in the case of securities for which there is a public trading market, the value will be determined
                                            by the average last sales prices for such securities for the last twenty trading days prior
                                            to such consummation as determined by CCG. In the case of debt securities for which there
                                            is no public trading market, the value thereof shall be the principal amount thereof. If
                                            there is no public trading market for securities or other property other than debt securities
                                            received or receivable as part of Aggregate Consideration and the parties are unable to agree
                                            on their value, then each of CCG and the Company will select an investment banking firm respected
                                            in the merger and acquisition field to determine a value and the midpoint between the two
                                            values established by the two independent experts will be the fair market value for the purpose
                                            hereof.
3.
If
                                            any Technology Partner Transaction is consummated (a) during the Term with any Technology
                                            Partner; or (b) within thirty-six months after the end of the Term with any Technology Partner;
                                            then, at each closing of a Technology Partner Transaction, the Company shall pay CCG a cash
                                            fee (the "Technology Partner Transaction Fee") of five percent (
5
%) of the gross
                                            payments received by the Company from the Technology Partner Transaction, and the Technology
                                            Partner Transaction Fee due for each calendar quarter shall be paid in arrears by the Company
                                            to CCG within fifteen (15) calendar days of the end of that calendar quarter.
4.
The
                                            Company agrees to reimburse CCG for all reasonable out-of-pocket expenses incurred in carrying
                                            out the terms of this Agreement, including travel and entertainment, courier, and other reasonable
                                            expenses. These out-of-pocket expenses shall be payable from time to time upon invoicing
                                            by CCG at any time after the commencement of this Agreement, and all invoices shall be payable
                                            by the Company within seven (7) days.
F-
43
Note
10 –
Related Party Transactions
The
Company subleases its office space from an individual who is personally indebted to the Company's Chief Executive Officer. During
the six months ended June 30, 2021, the Company directed rent payments totaling $
45,000
to Mr. Destler as partial repayment of the individual's
indebtedness.
During
the six months ended June 30, 2021, the Company reimbursed the Company's Chief Executive Officer $
29,000
for contributions made
on behalf of the Company to certain members of the United States Congress.
Aaron
Danks, son of a former director of the Company, was paid for services provided to the Company. Aaron Danks was paid $
26,000
for services
during the six months ended June 30, 2021.
On
May 17, 2021, Mr. Handy was hired by us as our Chief Financial Officer and Director of Operations. Before Mr. Handy's employment
with us, Mr. Handy provided services to us as a consultant to help us prepare for our financial statement audits and prepare our financial
statements. During the six months ended June 30, 2021, and prior to his date of employment with the Company, Mr. Handy was paid approximately
$
6,000
.
On
March 15, 2021, we entered into a consulting agreement with Mr. Klausner to provide the services to develop the Company's
financial model and corporate finance strategy and work on such matters as may be requested from time to time by us. The term of the
consulting agreement was three months and expired on June 15, 2021. Mr. Klausner received
30,000
shares of the Opti-Harvest Inc.
common stock for his services, estimated to have a fair value of approximately $
60,000
. On July 1, 2021, Mr. Klausner was appointed
to our Board of Directors and appointed Chairman of the Audit Committee.
Note
11 –
Subsequent Events
The
Company has evaluated subsequent events occurring from July 1, 2022, through the date of this filing.
Common
Shares Issued on Private Offering
Subsequent
to June 30, 2022, the Company received net proceeds of approximately $
1.2
million on the sale of
396,668
shares of common stock at $
3.00
per share, and
198,334
warrants, as part of its private offerings
.
As part of the Company's
$
3.00
private offering, each participating shareholder is entitled to a warrant, which expires on
December 31, 2023
, to purchase up to
fifty percent (50%) of the number of common shares purchased, at $
4.00
per share.
Common
Shares Issued for Services
Subsequent
to June 30, 2022, the Company issued
110,000
shares of common stock, with a fair value of approximately $
330,000
at date of grant related
to a consulting agreement.
Common Shares Issued on Exercise of Warrants
Subsequent to June 30, 2022, the Company received
proceeds of approximately $
40,000
on the exercise of
20,000
warrants for the purchase of
20,000
shares of common stock, at exercise price
of $
2.00
per share.
Capital
Navigation Strategies
On
July 29, 2022, the Company entered into an Advisor Agreement ("Agreement") with Capital Navigation Strategies ("CNS")
to raise capital for the Company on a non-exclusive reasonable best efforts basis, in connection with entering into an agreement to obtain
or receive capital, credit, cash advance, prepayments, factor, loan, convertible note, or other debt, equity or funding arrangement,
including a hedging arrangement, joint venture, partnership or business collaboration.
CNS
shall be engaged on a non-exclusive best-efforts basis until the successful completion or closing of the assignment or transaction(s)
contemplated by the Agreement. Either party hereto may terminate the Agreement on the earlier of (a) twelve (12) months after the mutual
written approval by CNS and the Company of the Company's teaser, marketing presentation, and virtual due diligence room subject
to automatic annual renewal unless terminated in writing by either party or (b) the date on which the Company files a registration statement
with the SEC or other regulatory body for an initial public offering, by giving thirty (30) days written notice of such party's
desire to terminate to the other party.
If
a transaction or any other funding for the Company or a Company project is consummated as identified and listed on Schedule B of the
Agreement during the Agreement period or within sixty (
60
) months thereafter, the Company shall pay CNS, in immediately available funds,
at closing of the transaction based upon the aggregate amount of the entire transaction value equal to six percent (
6
%) of the capital
raised if the funding is in the form of debt, equity, mezzanine structure or subordinated debt structure or any other type of transaction.
The Company will also pay $
280
(two hundred eighty US dollars) per hour to CNS if the Company requests CNS to develop and/or refine offering
materials and pay for out-of-pocket expenses incurred by CNS.
F-
44
PROSPECTUS
OPTI-HARVEST,
INC.
UNITS
Each
Unit Consisting of One Share of Common Stock and One Warrant to Purchase One Share of Common Stock
Through
and including _____________ (the 25
th
day after the date of this offering), all dealers effecting transactions in these securities,
whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealer's obligation
to deliver a prospectus when acting as an underwriter and with respect to an unsold allotment or subscription.
THE
DATE OF THIS PROSPECTUS IS ____________, 2022
WestPark
Capital
PART
II - INFORMATION NOT REQUIRED IN PROSPECTUS
Item
13. Other Expenses of Issuance and Distribution
The
following table sets forth the costs and expenses, other than the underwriting discounts and commissions, payable by the registrant in
connection with the sale of common stock being registered. All amounts are estimates except for the SEC registration fee, and the Financial
Industry Regulatory Authority, or FINRA, filing fee.
Item
Amount to be paid
SEC registration fee
$
3,258.13
FINRA filing fee
5,836.72
Nasdaq listing fee
75,000.00
Printing fees and expenses
6,442.00
Legal fees and expenses
250,000.00
Accounting fees and expenses
120,000.00
Transfer agent's fees and expenses
3,000.00
Miscellaneous fees and expenses
10,000.00
Total
$
473,536.85
Item
14. Indemnification of Directors and Officers
Section
145 of the DGCL, or Section 145, provides that a Delaware corporation may indemnify any person who was, is or is threatened to be made,
party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other
than an action by or in the right of such corporation), by reason of the fact that such person is or was an officer, director, employee
or agent of such corporation or is or was serving at the request of such corporation as a director, officer, employee or agent of another
corporation or enterprise. The indemnity may include expenses (including attorneys' fees), judgments, fines and amounts paid in
settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, provided such person acted
in good faith and in a manner he reasonably believed to be in or not opposed to the corporation's best interests and, with respect
to any criminal action or proceeding, had no reasonable cause to believe that his or her conduct was illegal. A Delaware corporation
may indemnify any persons who are, were or are a party to any threatened, pending or completed action or suit by or in the right of the
corporation by reason of the fact that such person is or was a director, officer, employee or agent of another corporation or enterprise.
The indemnity may include expenses (including attorneys' fees) actually and reasonably incurred by such person in connection with
the defense or settlement of such action or suit, provided such person acted in good faith and in a manner he reasonably believed to
be in or not opposed to the corporation's best interests, provided that no indemnification is permitted without judicial approval
if the officer, director, employee or agent is adjudged to be liable to the corporation. Where an officer or director is successful on
the merits or otherwise in the defense of any action referred to above, the corporation must indemnify him against the expenses which
such officer or director has actually and reasonably incurred.
Section
145 further authorizes a corporation to purchase and maintain insurance on behalf of any person who 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 or enterprise, against any liability asserted against him and incurred by him in any such capacity, or arising out of his
or her status as such, whether or not the corporation would otherwise have the power to indemnify him under Section 145.
Our
bylaws provide that we must indemnify our directors and officers to the fullest extent permitted by the DGCL and must indemnify against
all expenses, liability, and loss incurred in investigating, defending or participating in such proceedings.
As
of the date of this prospectus, we have entered into separate indemnification agreements with each of our directors and executive officers.
Each indemnification agreement provides, among other things, for indemnification to the fullest extent permitted by law and our bylaws
against any and all expenses, judgments, fines, penalties and amounts paid in settlement of any claim. The indemnification agreements
provide for the advancement or payment of all expenses to the indemnitee.
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The
indemnification rights set forth above shall not be exclusive of any other right which an indemnified person may have or hereafter acquire
under any statute, provision of our certificate of incorporation, our bylaws, agreement, vote of stockholders or disinterested directors
or otherwise; provided however in the case of any such amendment or interpretation, only to the extent that such amendment or interpretation
permits us to provide broader indemnification rights than we were permitted prior thereto.
Item
15. Recent Sales of Unregistered Securities
In
December 2016, we offered and sold 4,182,191 shares of common stock to 31 accredited investors, at a purchase price of $0.01 per share,
for aggregate proceeds of $42,222. The Company made the offering pursuant to the exemption from registration afforded by Section 4(a)(2)
of the Securities Act and Rule 506 of Regulation D, promulgated under the Securities Act, where each purchaser was an "accredited
investor" within the meaning of Rule 501 of Regulation D.
Between
January 2017 and December 2017, we offered and sold 5,139,717 shares of common stock to 63 accredited investors, at a purchase price
of $0.75 per share, for aggregate proceeds of $3,846,050. The Company made the offering pursuant to the exemption from registration afforded
by Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D, promulgated under the Securities Act, where each purchaser was
an "accredited investor" within the meaning of Rule 501 of Regulation D.
Between
March 2019 and August 2021, we offered and sold 5,174,250 shares of common stock to 157 accredited investors, at a purchase price of
$2.00 per share, for aggregate proceeds of $10,348,500. Between March 2022 and August 2022, we issued 760,250 shares of
common stock on the exercise of 760,250 warrants, at an exercise price of $2.00 per share, for aggregate proceeds of $1,520,500.
The Company made the offering pursuant to the exemption from registration afforded by Section 4(a)(2) of the Securities Act and Rule
506 of Regulation D, promulgated under the Securities Act, where each purchaser was an "accredited investor" within the meaning
of Rule 501 of Regulation D.
Between
June 2022 and August 2022, we offered and sold 461,668 shares of common stock to 8 accredited investors, at a purchase price of
$3.00 per share, for aggregate proceeds of $1,385,003. The Company made the offering pursuant to the exemption from registration afforded
by Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D, promulgated under the Securities Act, where each purchaser was
an "accredited investor" within the meaning of Rule 501 of Regulation D.
Between
September 2020 and August 2022, we issued 1,341,488 shares of common stock, with a fair value of approximately $3,155,428, or $2.35 per
share, to consultants and advisors who provided services to us. The offering was made pursuant to the exemption from registration provided
by Rule 701, promulgated pursuant to Section 3(b) of the Securities Act.
Between
March 2021 and January 2022, the Company approved options exercisable into 4,465,000 shares to be issued pursuant to the
Company's 2016 Equity Incentive Plan, at an exercise price of $2.00 per share. We made the offering pursuant to the exemption from
registration afforded by Section 4(a)(2) of the Securities Act.
Between May 2022 and August 2022, the Company
approved options exercisable into 170,000 shares to be issued pursuant to the Company's 2022 Stock Incentive Plan, at an average
exercise price of $2.00 per share. We made the offering pursuant to the exemption from registration afforded by Section 4(a)(2) of the
Securities Act.
On May 17, 2022, the Company granted an aggregate
of 200,000 restricted stock units (RSU) to its employees and executives pursuant to the Company's 2022 Stock Incentive Plan, with
an aggregate fair value of $600,000, based on the Company's current private offering price. We made the offering pursuant to the
exemption from registration afforded by Section 4(a)(2) of the Securities Act.
Between
September 23, 2021,and October 15, 2021 we offered and sold approximately $3,591,235 of Senior Convertible Promissory Notes and warrants
to purchase that number of shares of common stock into which the notes are convertible. Each Warrant is exercisable at a price equal
to 115% of our initial public offering price. 780,703 shares of common stock are reserved for issuance upon the exercise of outstanding
warrants issued with the Senior Convertible Promissory Notes. The Company made the offering pursuant to the exemption from registration
afforded by Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D, promulgated under the Securities Act, where each purchaser
was an "accredited investor" within the meaning of Rule 501 of Regulation D.
Between
May 27, 2022, and June 7, 2022, we issued 203,503 shares of common stock, with a fair value of approximately $610,509, or $3.00 per share,
to holders of our Senior Convertible Promissory Notes as consideration for modifying the terms of the Senior Convertible Promissory Notes.
The offering was made pursuant to the exemption from registration provided by Rule 701, promulgated pursuant to Section 3(b) of the Securities
Act.
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Item
16. Exhibits and Financial Statement Schedules
The
following exhibits are filed as part of this registration statement:
Number
Description
1.1
Form of Underwriting Agreement
3.1.1
Certificate of Incorporation
3.1.2
Certificate of Amendment
3.1.3
Certificate of Designation
3.1.4
Certificate of Amendment
3.2
Bylaws
4.1
Specimen of Common Stock Certificate
4.2
Form of Warrant
4.3
Form of Senior Convertible Promissory Note
4.4
Amendment No. 1 to Senior Convertible Promissory Note
4.5
Form of Representative's Warrant (included in Exhibit 1.1)
4.6
Form of Warrant Agency Agreement by and between Opti-Harvest, Inc. and Colonial Stock Transfer Company, Inc.
4.7
Form of Common Stock Purchase Warrant (included in Exhibit 4.6)
5.1
Opinion of Law Offices of Thomas E. Puzzo, PLLC
5.2
Opinion
of Clark Hill PLC
10.1#
Employment Agreement, dated December 17, 2018, by and between Opti-Harvest, Inc., a Delaware corporation and Jonathan Destler
10.2#
Amendment No. 1 to Employment Agreement, dated March 21, 2021, by and between Opti-Harvest, Inc., a Delaware corporation and Jonathan Destler
10.3#
Employment Agreement, dated May 17, 2021, by and between Opti-Harvest, Inc., a Delaware corporation and Steve Handy
10.4#
Employment Agreement, dated May 9, 2022, by and between Opti-Harvest, Inc., a Delaware corporation and Steve Handy
10.5#
Consulting Agreement, dated March 15, 2021, by and between Opti-Harvest, Inc., a Delaware corporation and Jeffrey Klausner
10.6#
2016 Equity Incentive Plan
10.7#
2022 Stock Incentive Plan
10.8#
Form of Indemnification Agreement
10.9
Form of Note and Warrant Purchase Agreement
10.10
Form of Amended and Restated Investors' Rights Agreement
10.11
Restated Patent Purchase Obligation with DisperSolar LLC
10.12
Letter Agreement with Nick Booth Regarding Restated Patent Purchase Obligation with DisperSolar LLC
14.1
Code of Ethics
23.1
Consent of Weinberg & Company, P.A.
23.2
Consent of Law Offices of Thomas E. Puzzo, PLLC (included in Exhibit 5.1)
23.3
Consent of Clark Hill PLC (included in Exhibit 5.2)
24.1
Power of Attorney (included on signature page)
107
Filing Fee Table
*To
be filed by amendment.
#
Indicates management contract or compensatory plan.
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Item
17. Undertakings
The
undersigned Registrant hereby undertakes:
(a)
(b)
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 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 Act and will be governed by the final adjudication
    of such issue.
(c)
The
    undersigned Registrant hereby undertakes that:
(1)
For
    purposes of determining any liability under the Securities Act of 1933, the information omitted from the form of prospectus filed
    as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the Registrant pursuant
    to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time
    it was declared effective.
(2)
For
    the purpose of determining any liability under the Securities Act of 1933, each post-effective amendment that contains a form of
    prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
    securities at that time shall be deemed to be the initial bona fide offering thereof.
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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 Los Angeles, California, on August 31, 2022.
OPTI-HARVEST,
    INC.
By:
/s/
    Jonathan Destler
Name:
Jonathan
    Destler
Title:
Chief
    Executive Officer
Pursuant
to the requirements of the Securities Act of 1933, as amended, this registration statement was signed by the following persons in the
capacities and on the dates stated.
Dated:
    August 31, 2022
By:
/s/
    Jonathan Destler
Name:
Jonathan
    Destler
Title:
Chief
    Executive Officer, Secretary and
Chairman of the Board
(principal
    executive officer)
Dated:
    August 31, 2022
By:
/s/
    Steve Handy
Name:
Steve
    Handy
Title:
Chief
    Financial Officer
(principal
    accounting officer and principal financial officer)
Dated:
    August 31, 2022
By:
/
s/
    Jeffrey Klausner
Name:
Jeffrey
    Klausner
Title:
Director
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