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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>As
filed with the U.S. Securities and Exchange Commission on June 29, 2022</B></FONT></P>

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<P STYLE="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Registration
No. 333-</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 26pt 0 52.85pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Washington,
D.C. 20549</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt"><B>FORM
S-8</B></FONT></P>

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

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 20pt"><B>KAIVAL
BRANDS INNOVATIONS GROUP, INC.</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; width: 50%; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Delaware</B></FONT></TD>
<TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0pt 0pt 1pt; width: 1%; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; width: 49%; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>833492907</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State
or other jurisdiction of<BR>
incorporation or organization)</FONT></P></TD>
<TD STYLE="padding: 0pt; font: 12pt Times New Roman, Times, Serif; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S.
Employer<BR>
Identification Number)</FONT></P></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4460
Old Dixie Highway</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Grant,
Florida 32949</B></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address
of Principal Executive Offices)(Zip Code)</FONT></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amended
and Restated 2020 Stock and Incentive Compensation Plan</B></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Full
title of the plan)</FONT></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4460
Old Dixie Highway</B></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Grant,
Florida 32949</B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name
and address of agent for service)</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(833)
452-4825</B></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Telephone
number, including area code, of agent for service)</FONT></P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>200
Civic Center Drive, Suite 1200</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Columbus,
Ohio 43215</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(614)
462-4712</B></FONT></P>

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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; width: 50%; font: 12pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Large accelerated filer &#9744;</FONT></TD>
<TD STYLE="padding: 0pt; width: 50%; font: 12pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Accelerated filer &#9744;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; font: 12pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Non-accelerated filer &#9746;</FONT></TD>
<TD STYLE="padding: 0pt; font: 12pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Smaller reporting company &#9746;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; font: 12pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; font: 12pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Emerging growth company &#9746;</FONT></TD></TR>
</TABLE>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kaival
Brands Innovations Group, Inc. (the &ldquo;Company&rdquo; or the &ldquo;Registrant&rdquo;) has filed with the U.S. Securities and Exchange
Commission (the &ldquo;SEC&rdquo; or the &ldquo;Commission&rdquo;) this registration statement on Form S-8 (this &ldquo;Registration
Statement&rdquo;) to register under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), the following shares of
common stock, par value of $0.001 per share (the &ldquo;Common Stock&rdquo;), of the Company:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; width: 48px; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; width: 43px; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the offer and sale of up
    to 11,571,046 shares of Common Stock available for issuance under the Amended and Restated 2020 Stock and Incentive Compensation
    Plan (the &ldquo;Plan&rdquo;); and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,052,265 shares of Common
    Stock issuable upon the exercise of stock options (&ldquo;Outstanding Options&rdquo;) previously granted under the Plan; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the reoffer and resale
    of 301,689 shares of Common Stock (the &ldquo;Reoffer Prospectus Shares&rdquo;), which includes shares previously issued under the
    Plan.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
inclusion of such shares of Common Stock herein does not necessarily represent a present intention to sell all or any such shares Common
Stock. Pursuant to Rule 416(a) under the Securities Act, this Registration Statement also covers any additional shares of Common Stock
that have been issued or may become issuable under the Plan as a result of anti-dilution provisions described therein by reason of any
dividend, share split, recapitalization or other similar transaction.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Registration Statement includes a prospectus (the &ldquo;Reoffer Prospectus&rdquo;), which may be used for reofferings and resales of
certain shares of Common Stock that have been or will be, as appliable in accordance with General Instruction C of Form S-8, acquired
pursuant to an employee benefit plan, where such shares are listed above and may be deemed to be &ldquo;control securities&rdquo; or
&ldquo;restricted securities&rdquo; under the Securities Act. These are shares that were acquired by our officers, directors, and affiliates,
or that were acquired by our employees or consultants (the &ldquo;Selling Stockholders&rdquo;). The Selling Stockholders are identified
in the Reoffer Prospectus to the extent required.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Reoffer Prospectus is prepared in accordance with General Instruction C of Form S-8 and the requirements of Part I of Form S-3. The Reoffer
Prospectus permits reoffers and resales on a continuous or delayed basis of the Reoffer Prospectus Shares. As specified in General Instruction
C of Form S-8, the amount of securities to be reoffered or resold under the Reoffer Prospectus by each Selling Stockholder, and any other
person with whom they are acting in concert for the purpose of selling the Company&rsquo;s securities, may not exceed, during any three-month
period, the amount specified in Rule 144(e) under the Securities Act.</FONT></P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>INFORMATION
REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
1. Plan Information.*</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
2. Registrant Information and Employee Plan Annual Information.*</B></FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; width: 24px; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; width: 24px; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The information specified
    in Items 1 and 2 of Part I of Form S-8 is omitted from this Registration Statement in accordance with the provisions of Rule 428
    under the Securities Act and the introductory note to Part I of Form S-8. The documents containing the information specified in Part
    I of this Registration Statement will be sent or given to each recipient of a grant under the Plan, and as required by Rule 428(b)
    under the Securities Act. Such documents are not required to be, and are not being filed with the SEC, either as part of this Registration
    Statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. These documents, and the documents
    incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of this Registration Statement, taken together,
    constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>KAIVAL
BRANDS INNOVATIONS GROUP, INC.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>301,689
Shares of Common Stock</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Offered
by Selling Stockholders</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
reoffer prospectus (the &ldquo;Reoffer Prospectus&rdquo;) relates to the offer and sale from time to time by selling stockholders (the
&ldquo;Selling Stockholders&rdquo;), or their permitted transferees, of up to 301,689 shares of Common Stock, par value $0.001 (&ldquo;Common
Stock&rdquo;), of Kaival Brands Innovations Group, Inc., a Delaware corporation (unless otherwise indicated or the context otherwise
requires, the &ldquo;Company,&rdquo; &ldquo;Kaival Brands,&rdquo; &ldquo;we,&rdquo; &ldquo;our,&rdquo; or &ldquo;us&rdquo;) that have
been acquired in connection with equity awards granted under the Amended and Restated 2020 Stock and Incentive Plan (the &ldquo;Plan&rdquo;).
We are not offering any shares of Common Stock and will not receive any proceeds from the sale of the shares of Common Stock by the Selling
Stockholders pursuant to this Reoffer Prospectus. The Selling Stockholders are our &ldquo;affiliates&rdquo; (as defined in Rule 405 under
the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;)) or are our &ldquo;non-affiliates&rdquo; who hold shares of
Common Stock, which were issued pursuant to awards granted under the Plan.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Selling Stockholders may from time to time sell, transfer, or otherwise dispose of any or all of the shares of Common Stock covered by
this Reoffer Prospectus in various types of transactions, including through underwriters or dealers, directly to purchasers (or a single
purchaser) or through broker-dealers or agents. If underwriters or dealers are used to sell the shares of Common Stock, we will name
them and describe their compensation in a prospectus supplement. The shares of Common Stock may be sold in one or more transactions at
fixed prices, prevailing market prices at the time of sale, prices related to the prevailing market prices, varying prices determined
at the time of sale or negotiated prices. We do not know when or in what amount the Selling Stockholders may offer the shares of Common
Stock for sale. The Selling Stockholders may sell any, all or none of the shares of Common Stock offered by this Reoffer Prospectus.
See &ldquo;<I>Plan of Distribution</I>&rdquo; beginning on page 7 for more information about how the Selling Stockholders may sell or
dispose of the shares of Common Stock covered by this Reoffer Prospectus.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shares of Common Stock covered by this Reoffer Prospectus are &ldquo;restricted securities&rdquo; within the meaning of Rule 144 under
the Securities Act before their sale under this Reoffer Prospectus. This Reoffer Prospectus has been prepared for the purposes of registering
the shares of Common Stock under the Securities Act to allow for future sales by the Selling Stockholders on a continuous or delayed
basis to the public without restriction.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Common Stock is listed on the Nasdaq Capital Market (&ldquo;Nasdaq&rdquo;) under the symbol &ldquo;KAVL.&rdquo; On June 27, 2022, the
closing price of our Common Stock was $1.59 per share.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Investing
in our securities involves risks that are described in the &ldquo;Risk Factors&rdquo; section on page 3 of this Reoffer Prospectus.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Neither
the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) nor any state securities commission has approved or disapproved of the
securities to be issued under this Reoffer Prospectus or determined if this Reoffer Prospectus is truthful or complete. Any representation
to the contrary is a criminal offense.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>The
date of this prospectus is June 29, 2022.</B></FONT></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
<TD STYLE="padding: 0pt; text-indent: 0pt"><A HREF="#a_001"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</FONT></A></TD>
<TD STYLE="padding: 0pt; width: 48px; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ii</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
<TD STYLE="padding: 0pt; text-indent: 0pt"><A HREF="#a_002"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">PROSPECTUS SUMMARY</FONT></A></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
<TD STYLE="padding: 0pt; text-indent: 0pt"><A HREF="#a_003"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">RISK FACTORS</FONT></A></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
<TD STYLE="padding: 0pt; text-indent: 0pt"><A HREF="#a_004"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">DETERMINATION OF OFFERING PRICE</FONT></A></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
<TD STYLE="padding: 0pt; text-indent: 0pt"><A HREF="#a_005"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">USE OF PROCEEDS</FONT></A></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
<TD STYLE="padding: 0pt; text-indent: 0pt"><A HREF="#a_006"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SELLING STOCKHOLDERS</FONT></A></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
<TD STYLE="padding: 0pt; text-indent: 0pt"><A HREF="#a_007"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">PLAN OF DISTRIBUTION</FONT></A></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
<TD STYLE="padding: 0pt; text-indent: 0pt"><A HREF="#a_008"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">INFORMATION INCORPORATED BY REFERENCE</FONT></A></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="text-align: right; padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
<TD STYLE="padding: 0pt; text-indent: 0pt"><A HREF="#a_009"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">LEGAL MATTERS</FONT></A></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
<TD STYLE="padding: 0pt; text-indent: 0pt"><A HREF="#a_010"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">EXPERTS</FONT></A></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
<TD STYLE="padding: 0pt; text-indent: 0pt"><A HREF="#a_011"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">WHERE YOU CAN FIND MORE INFORMATION</FONT></A></TD>
<TD STYLE="padding: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.3in 0 0.5in; text-align: justify; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Neither
we nor the Selling Stockholders have authorized anyone to provide any information or to make any representations other than those contained
in this Reoffer Prospectus or any accompanying prospectus supplement that we have prepared. We and the Selling Stockholders take no responsibility
for, and can provide no assurance as to the reliability of, any other information that others may give you. This Reoffer Prospectus is
an offer to sell only the securities offered hereby, and only under circumstances and in jurisdictions where it is lawful to do so. No
dealer, salesperson or other person is authorized to give any information or to represent anything not contained in this Reoffer Prospectus
or any applicable prospectus supplement. This Reoffer Prospectus is not an offer to sell securities, and it is not soliciting an offer
to buy securities, in any jurisdiction where the offer or sale is not permitted. You should assume that the information appearing in
this Reoffer Prospectus or any prospectus supplement is accurate only as of the date on the front of those documents only, regardless
of the time of delivery of this Reoffer Prospectus or any applicable prospectus supplement, or any sale of a security. Our business,
financial condition, results of operations, and prospects may have changed since those dates.</B></FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT><B><A NAME="a_001"></A>CAUTIONARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Reoffer Prospectus and the documents incorporated by reference in this Reoffer Prospectus may constitute forward-looking statements,
including statements about our financial condition, results of operations, earnings outlook, and prospects. In addition, any statements
in this Reoffer Prospectus or the documents incorporated by reference in this Reoffer Prospectus that refer to projections, forecasts
or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking
statements are typically identified by words such as &ldquo;plan,&rdquo; &ldquo;believe,&rdquo; &ldquo;expect,&rdquo; &ldquo;anticipate,&rdquo;
&ldquo;intend,&rdquo; &ldquo;outlook,&rdquo; &ldquo;estimate,&rdquo; &ldquo;forecast,&rdquo; &ldquo;project,&rdquo; &ldquo;continue,&rdquo;
&ldquo;could,&rdquo; &ldquo;may,&rdquo; &ldquo;might,&rdquo; &ldquo;possible,&rdquo; &ldquo;potential,&rdquo; &ldquo;predict,&rdquo;
&ldquo;should,&rdquo; &ldquo;would,&rdquo; and other similar words and expressions, but the absence of these words does not mean that
a statement is not forward-looking.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
statements, other than statements of historical facts, which address activities, events, or developments that we expect or anticipate
will or may occur in the future, including such things as future capital expenditures, business strategy, statements related to the expected
effects on our business from the novel coronavirus (&ldquo;COVID-19&rdquo;) pandemic, our ability to obtain the products we distribute
from Bidi Vapor, LLC (&ldquo;Bidi&rdquo;), the timing and outcome of Bidi&rsquo;s appeal of the U.S. Food and Drug Administration&rsquo;s
(the &ldquo;FDA&rdquo;) Premarket Tobacco Product Application (&ldquo;PMTA&rdquo;) determinations, the scope of future FDA enforcement
of regulations in the electronic nicotine delivery system (&ldquo;ENDS&rdquo;), the FDA&rsquo;s approach to the regulation and enforcement
of synthetic nicotine and our competitors&rsquo; use of the substance in their products to avoid the PMTA requirements, the impact of
black-market goods on our business, the success of our agreement with Philip Morris Products S.A. (&ldquo;PMPSA&rdquo;), including the
distribution of our products in international markets, the demand for the products we distribute, anticipated product performance, market
and industry expectations, significant changes in our relationships with our distributors or sub-distributors, changes in government
regulation or laws that affect our business, and circumstances or developments that may make us unable to implement or realize the anticipated
benefits, or that may increase the costs of our current and planned business initiatives, and other similar matters are forward-looking
statements. These forward-looking statements are based largely on our current expectations and assumptions and are subject to a number
of risks and uncertainties, many of which are beyond our control. These statements are subject to many risks, uncertainties, and other
important factors that could cause actual future results to differ materially from those expressed in the forward-looking statements
including, but not limited to, the factor detailed under the section entitled &ldquo;Risk Factors.&rdquo;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
caution you that any forward-looking statements presented in this Reoffer Prospectus, or that we may make orally or in writing from time
to time, are based on the beliefs of, assumptions made by, and information currently available to, us. Such statements are based on assumptions,
and the actual outcome will be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control or
ability to predict. Although we believe that our assumptions are reasonable, they are not guarantees of future performance, and some
will inevitably prove to be incorrect. As a result, our actual future results can be expected to differ from our expectations, and those
differences may be material. Accordingly, you should use caution in relying on forward-looking statements, which are based only on known
results and trends at the time they are made, to anticipate future results or trends.</FONT></P>

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




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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>This
summary highlights selected information from this Reoffer Prospectus and may not contain all of the information that is important in
making an investment decision. This summary is qualified in its entirety by the more detailed information included in this Reoffer Prospectus.
Before making your investment decision with respect to our securities, you should carefully read this entire Reoffer Prospectus, including
the information under &ldquo;Risk Factors,&rdquo; in this Reoffer Prospectus.</I></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Unless
otherwise indicated or the context otherwise requires, references in this prospectus to the &ldquo;Company,&rdquo; &ldquo;Kaival Brands,&rdquo;
&ldquo;we,&rdquo; &ldquo;our,&rdquo; &ldquo;us,&rdquo; and other similar terms refer to Kaival Brands Innovations Group, Inc. and our
subsidiaries.</I></FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are focused on growing and incubating innovative and profitable products into mature, dominant brands. On March 9, 2020, we commenced
business operations by entering into an exclusive distribution agreement (the &ldquo;Distribution Agreement&rdquo;) with Bidi, a related
party company, which Distribution Agreement was amended and restated on May 21, 2020, on April 20, 2021, and June 10, 2022 (collectively
the &ldquo;A&amp;R Distribution Agreement&rdquo;) in order to clarify some of the provisions. Pursuant to the A&amp;R Distribution Agreement,
Bidi granted us an exclusive worldwide right to distribute the ENDS and related components (the &ldquo;Products&rdquo;) for sale and
resale to both retail level customers and non-retail level customers. We ceased all retail/direct-to-consumer sales in February 2021.
Pursuant to the terms of the A&amp;R Distribution Agreement, Bidi provides us with all the branding, logos, and marketing materials to
be utilized by us in connection with our marking and promotion of the Products. We do not manufacture any of the Products we resell.
Currently, the Products consist primarily of the &ldquo;BIDI<SUP>&reg;</SUP> Stick,&rdquo; a disposable, tamper-resistant ENDS Product
and, once launched, of which there can be no assurances, the &ldquo;BIDI<SUP>&reg;</SUP> Pouch,&rdquo; which provides a tobacco-derived
nicotine formulation, containing natural fibers and a chew-base filler.</FONT></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
A&amp;R Distribution Agreement has a term of ten years, which automatically renews for another ten-year term, unless earlier terminated
by the parties and, provided, that we satisfy certain minimum purchase thresholds. The A&amp;R Distribution Agreement also provides us
with a right of first refusal in the event Bidi receives an offer that would constitute a &ldquo;change of control transaction,&rdquo;
as well as a right of first refusal to act as the exclusive distributor of any and all future products of Bidi that arise out of or related
to ENDS and components related to ENDS, or arise out of or related to the tobacco-derived nicotine industry.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the A&amp;R Distribution Agreement, we entered into non-exclusive sub-distribution agreements, some of which were subsequently
amended and restated by the parties in order to clarify certain provisions (all such sub-distribution agreements, as amended and restated,
are collectively referred to as the &ldquo;Sub-Distribution Agreements&rdquo;), whereby we appointed the counterparties as non-exclusive
sub-distributors. Pursuant to the Sub-Distribution Agreements, the sub-distributors agreed to purchase for resale the Products in such
quantities as they should need to properly service non-retail customers within the continental United States (the &ldquo;Territory&rdquo;).
On June 13, 2022, our wholly owned subsidiary, Kaival Brands International, LLC (&ldquo;KBI&rdquo;), entered into a deed of licensing
agreement (the &ldquo;PMI Licensing Agreement&rdquo;), with PMPSA, pursuant to which PMPSA will manufacture and distribute the Products
in certain international markets.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
process all sales made only to non-retail customers located in the United States, with all sales to non-retail customers made through
Bidi&rsquo;s age-restricted website, www.wholesale.bidivapor.com. We ceased all retail/direct-to-consumer sales in February 2021 in order
to better ensure youth access prevention and to comply with the Prevent All Cigarette Trafficking (&ldquo;PACT&rdquo;) Act. We provide
all customer service and support at our own expense. Bidi sets the minimum prices for all sales made by us. We maintain adequate inventory
levels of the Products in order to meet the demands of our non-retail customers, and deliver the Products sold to these customers.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Reoffer Prospectus relates to the public offering, which is not being underwritten, by the Selling Stockholders listed in this Reoffer
Prospectus, of up to 301,689 shares of Common Stock that have been or will be issued to each Selling Stockholder pursuant to an award
agreement between the Selling Stockholder and us, granted under the Plan. The Selling Stockholders may from time to time sell, transfer,
or otherwise dispose of any or all of the shares of Common Stock covered by this Reoffer Prospectus through underwriters or dealers,
directly to purchasers (or a single purchaser), or through broker-dealers or agents. We will receive none of the proceeds from the sale
of the shares of Common Stock by the Selling Stockholders. The Selling Stockholders will bear all sales commissions and similar expenses
in connection with this offering. We will bear all expenses of registration incurred in connection with this Reoffer Prospectus, as well
as any other expenses incurred by us in connection with the registration and offering that are not borne by the Selling Stockholders.</FONT></P>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
mailing address of our principal executive office is 4460 Old Dixie Highway, Grant, Florida 32949, and our telephone number is (833)
452-4825. Our website address is <U>www.kaivalbrands.com</U>. Information on or accessed through our website is not incorporated into
this Reoffer Prospectus and is not a part of this Reoffer Prospectus.</FONT></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="a_003"></A>RISK
FACTORS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">An
investment in our Common Stock involves a high degree of risk. Before making an investment decision, you should carefully consider the
risks described under Part I, Item 1A: &ldquo;Risk Factors&rdquo; in our Annual Report on Form 10-K for the year ended October 31, 2021,
together with all of the other information appearing in or incorporated by reference into this Reoffer Prospectus. Our business, prospects,
financial condition, or operating results could be harmed by any of these risks, as well as other risks not currently known to us or
that we currently consider immaterial. The trading price of our Common Stock could decline due to any of these risks, and, as a result,
you may lose all or part of your investment. The risks we have described also include forward-looking statements, and our actual results
may differ substantially from those discussed in these forward-looking statements. See &ldquo;<I>Cautionary Note Regarding Forward-Looking
Statements</I>.&rdquo;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="a_004"></A>DETERMINATION
OF OFFERING PRICE</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Selling Stockholders will determine at what price they may sell the shares of Common Stock offered hereby, and such sales may be made
at prevailing market prices or at privately negotiated prices. See &ldquo;<I>Plan of Distribution</I>&rdquo; below for more information.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="a_005"></A>USE
OF PROCEEDS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shares of Common Stock offered hereby are being registered for the account of the Selling Stockholders named in this Reoffer Prospectus.
All proceeds from the resale of the shares of Common Stock by the Selling Stockholders will go to the Selling Stockholders and we will
not receive any proceeds from such resale.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="a_006"></A>SELLING
STOCKHOLDERS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
table below sets forth, as of June 24, 2022 (the &ldquo;Determination Date&rdquo;), (i) the name of each Selling Stockholder who is offering
the resale of shares by this Reoffer Prospectus; (ii) the number of shares (and the percentage, if 1% or more) of Common Stock beneficially
owned (determined in the manner described in footnote (1) to the table below) by each person; (iii) the number of shares that each Selling
Stockholder may offer for sale from time to time pursuant to this Reoffer Prospectus, whether or not such Selling Stockholder has a present
intention to do so; and (iv) the number of shares (and the percentage, if 1% or more) of Common Stock each person will own after the
offering, assuming they sell all of the shares of Common Stock offered hereunder. Unless otherwise indicated, beneficial ownership is
direct, and the person indicated has sole voting and investment power. The address for each Selling Stockholder listed in the table below
is c/o Kaival Brands Innovations Group, Inc., 4460 Old Dixie Highway, Grant, Florida 32949.</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Common Stock </B></FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Beneficially Owned Prior </B></FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>to the Offering</B></FONT></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Common</B></FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Stock Being Offered</B></FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Common Stock Beneficially Owned After the Offering</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0pt 0pt 0pt 10pt; font-weight: bold; text-align: left; text-indent: -10pt">Selling Stockholders</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Shares <SUP>(1)</SUP></B></FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Percentage<SUP>(1)</SUP></B></FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Shares</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Shares <SUP>(1)(2)</SUP></B></FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Percentage <SUP>(1)(2)</SUP></B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0pt 10pt; width: 35%; text-align: left; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Nirajkumar Patel <SUP>(3)</SUP></FONT></TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">42,731,634</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">75.27</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">106,585</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">42,025,049</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">74.82</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Eric Mosser <SUP>(4)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">42,574,998</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75.13</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">71,045</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">42,003,953</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">74.78</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pareshkumar Patel <SUP>(5)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">59,279</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,679</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Kristy Fontes <SUP>(6)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46,440</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,440</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Nikesh Patel <SUP>(7)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,746</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,746</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Joseph Mosser <SUP>(8)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">68,016</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32,016</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chiatesh Patel <SUP>(9)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">65,378</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">**</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">96,578</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0pt 10pt; font-weight: bold; text-align: left; text-indent: -10pt">Total Selling Stockholders</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">43,544,489</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">58.52</TD><TD STYLE="font-weight: bold; text-align: left">%</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">301,689</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">42,029,002</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">74.83</TD><TD STYLE="font-weight: bold; text-align: left">%</TD></TR>
  </TABLE>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; width: 24px; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">**</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents less than 1%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; width: 48px; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1)</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The number and percentage of shares beneficially owned is determined in accordance with Rule 13d-3 of the Securities Exchange Act of 1934, as amended, and the information is not necessarily indicative of beneficial ownership for any other purpose. Under such rule, beneficial ownership includes any shares as to which the Selling Stockholder has sole or shared voting power or investment power and also any shares which the Selling Stockholder has the right to acquire within 60 days. Applicable percentage of beneficial ownership is based on 31,169,090 shares of Common Stock issued and outstanding as of the Determination Date.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Assumes that all of the shares of Common Stock held by each Selling Stockholder and being offered under this Reoffer Prospectus are sold, and that no Selling Stockholder will acquire additional shares of Common Stock before the completion of this offering.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3)</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mr. Patel serves as our Chief Science and Regulatory Officer and a director. Shares of our Common Stock beneficially owned prior to this offering consist of: (i) 131,634 shares of our Common Stock; (ii) 600,000 shares of our Common Stock issuable upon exercise of vested stock options; and (iii) 42,000,000 shares of our Common Stock owned by Kaival Holdings, LLC (&ldquo;KH&rdquo;), an entity over which Mr. Patel has shared dispositive and voting authority. The shares of Common Stock registered for resale hereunder represent shares issued upon the vesting of restricted stock units.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(4)</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mr. Mosser serves as President, Chief Operating Officer, Secretary, and one of our directors. Shares of our Common Stock beneficially owned prior to this offering consist of: (i) 74,998 shares of our Common Stock; (ii) 250,000 shares of our Common Stock issuable upon exercise of vested stock options; and (iii) 42,000,000 shares of our Common Stock owned by KH, an entity over which Mr. Mosser has shared dispositive and voting authority. The shares of Common Stock registered for resale hereunder represent shares issued upon the vesting of restricted stock units.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(5)</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mr. Patel is one of our employees. Shares of our Common Stock beneficially owned prior to this offering consist of: (i) 37,679 shares of our Common Stock; and (ii) 21,600 shares of our Common Stock issuable upon the exercise of vested stock options. The shares of Common Stock registered for resale hereunder represent shares issued upon the vesting of restricted stock units.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(6)</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ms. Fontes is one of our employees and is a sibling of one of our officers. Shares of our Common Stock beneficially owned prior to this offering consist of: (i) 10,440 shares of our Common Stock and (ii) 36,000 shares of our Common Stock issuable upon the exercise of vested stock options. The shares of Common Stock registered for resale hereunder represent shares issued upon the vesting of restricted stock units.&nbsp;</FONT></TD></TR>
</TABLE>


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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt; width: 48px"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(7)</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mr. Patel is one of our employees. Shares of our Common Stock beneficially owned prior to this offering consist of (i) 9,746 shares of our Common Stock and (ii) 18,000 shares of our Common Stock issuable upon the exercise of vested options. The shares of Common Stock registered for resale hereunder represent shares issued upon the vesting of restricted stock units.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(8)</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mr. Mosser is one of our employees and is the sibling of one of our officers. Shares of our Common Stock beneficially owned prior to this offering consist of: (i) 32,016 shares of our Common Stock and (ii) 36,000 shares of our Common Stock issuable upon the exercise of vested stock options. The shares of Common Stock registered for resale hereunder represent shares issued upon the vesting of restricted stock units.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(9)</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mr. Patel is one of our employees. Shares of our Common Stock beneficially owned prior to this offering consist of (i) 34,178 shares of our Common Stock and (ii) 31,200 shares of our Common Stock issuable upon the exercise of vested stock options. The shares of Common Stock registered for resale hereunder represent shares issued upon the vesting of restricted stock units.</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Selling Stockholders identified above may have sold, transferred, or otherwise disposed of some or all of their shares since the date
as of which the information in the above table is presented in transactions exempt from or not subject to the registration requirements
of the Securities Act. Information concerning the Selling Stockholders may change from time to time and, if necessary, we will amend
or supplement this Reoffer Prospectus accordingly. We cannot give an estimate as to the number of shares of Common Stock that will actually
be held by the Selling Stockholders upon termination of this offering because the Selling Stockholders may offer some or all of their
Common Stock under the offering contemplated by this Reoffer Prospectus or acquire additional shares of Common Stock.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Other
Material Relationships with the Selling Stockholders</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Selling Stockholders represent current directors, officers, employees, and consultants. In connection with their roles, we have entered
into a variety of agreements with such individuals. We have indicated such material relationships with certain of the Selling Stockholders
in the footnotes to the Selling Stockholders table above.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Indemnification
Agreements with Directors and Officers</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
previously entered into independent director agreements with Messers Reuter, Brooks, and Chuang. The director agreement provides for
indemnification and advancements by us of certain expenses and costs relating to claims, suits, or proceedings arising from his service
to or on our behalf, as a director to the maximum extent permitted by applicable law. We have not entered into any other indemnification
agreements with any other officer or director.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Restated Certificate of Incorporation, as amended, and as may be further amended and restated from time to time (our &ldquo;Certificate
of Incorporation&rdquo;), provides that to the fullest extent permitted by the Delaware General Corporation Law (&ldquo;DGCL&rdquo;),
a director cannot be personally liable to us or our stockholders for monetary damages for breach of fiduciary duty. DGCL provides that
such a provision may not limit the liability of directors: (i) for any breach of their duty of loyalty to us or to our stockholders;
(ii) for acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law; (iii) for unlawful
payment of a dividend or unlawful stock repurchase or redemption, as provided under Section 174 of the DGCL; or (iv) for any transaction
from which the director derived an improper personal benefit.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Further,
our Bylaws (&ldquo;Bylaws&rdquo;) provide that we will indemnify, to the fullest extent permitted by the DGCL, as now or hereinafter
in effect, any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit
by or in our right to procure a judgment in our favor by reason of the fact that such person is or was a director or officer of our,
or is or was a director or officer of ours serving at our request as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise against expenses (including attorneys&rsquo; fees) actually and reasonably incurred by such
person in connection with the defense or settlement of such action or suit if such person acted in good faith and in a manner such person
reasonably believed to be in or not opposed to our best interests and, with respect to any criminal action or proceeding, had no reasonable
cause to believe his conduct was unlawful. The termination of any action, suit, or proceeding by judgment, order, settlement, conviction
or upon plea of nolo contendere or its equivalent, does not, of itself, create a presumption that the person did not act in good faith
and in a manner which he reasonably believed to be in or not opposed to our best interests and, with respect to any criminal action or
proceeding, that he had reasonable cause to believe that his conduct was unlawful.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Bylaws also requires us to pay any expenses incurred by any director or officer in defending against any such action, suit, or proceeding
in advance of the final disposition of such matter upon receipt of a written request to the fullest extent permitted by law, subject
to the receipt of an undertaking by or on behalf of such person to repay all amounts so advanced if it shall ultimately be determined
that such person is not entitled to be indemnified as authorized by our Bylaws or otherwise. We believe that the limitation of liability
provision in our Bylaws facilitates our ability to continue to attract and retain qualified individuals to serve as directors and officers.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="a_007"></A>PLAN
OF DISTRIBUTION</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
information about this offering and the securities to be registered, please see the above sections entitled &ldquo;<I>About this Offering</I>&rdquo;
and &ldquo;<I>Selling Stockholders</I>&rdquo; in this Reoffer Prospectus, which describe certain transactions. These transactions may
include block transactions or crosses. Crosses are transactions in which the same broker acts as an agent on both sides of the trade.
The Selling Stockholders may sell the Common Stock through one or more underwriters, agents, brokers-dealers or directly to purchasers.
Such broker-dealers may receive compensation in the form of commissions, discounts, or concessions from the Selling Stockholders or purchasers
of the Common Stock or both. Such compensation as to a particular broker-dealer may be in excess of customary commissions.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
the time a particular offering of the Common Stock is made, a prospectus supplement, if required, will be distributed, which will set
forth the name of the Selling Stockholders, the aggregate amount of the Common Stock being offered and the terms of the offering, including,
to the extent required, (1) the name or names of any underwriters, broker-dealers, or agents, (2) any discounts, commissions, and other
terms constituting compensation from the Selling Stockholders, and (3) any discounts, commissions, or concessions allowed or reallowed
to be paid to broker-dealers.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with their sales, a Selling Stockholder, and any participating broker-dealer may be deemed to be &ldquo;underwriters&rdquo;
within the meaning of the Securities Act, and any commissions they receive and the proceeds of any sale of Common Stock may be deemed
to be underwriting discounts and commissions under the Securities Act. Any commissions or other fees payable to broker-dealers in connection
with any sale of the Common Stock will be borne by the Selling Stockholders or other party selling such shares of Common Stock. Underwriters
are subject to the prospectus delivery requirements of the Securities Act and may be subject to certain statutory liabilities under the
Securities Act and the Exchange Act. We will make copies of this prospectus available to the Selling Stockholders for the purpose of
satisfying the prospectus delivery requirements of the Securities Act. We have notified the Selling Stockholders of the need to deliver
a copy of this Reoffer Prospectus in connection with any sale of the Common Stock. To our knowledge, there are currently no plans, arrangements,
or understandings between the Selling Stockholders and any underwriter, broker-dealer, or agent regarding the sale of the shares of Common
Stock by the Selling Stockholders.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
shares of Common Stock may be sold in one or more transactions at:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; width: 72px; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; width: 24px; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">fixed prices;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">prevailing market prices at the time of sale;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">prices related to such prevailing market prices</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">varying prices determined at the time of sale; or</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">negotiated prices.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
sales may be effected in one or more transactions:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; width: 72px; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; width: 24px; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">on any national securities
    exchange or quotation service on which the shares of Common Stock may be listed or quoted at the time of sale, including the Nasdaq;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">in the over-the-counter
    market;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">in transactions otherwise
    than on such exchanges or services or in the over-the-counter market;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any other method permitted
    by applicable law; or</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">through any combination
    of the foregoing.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Selling Stockholders will act independently of us in making decisions with respect to the timing, manner, and size of each resale or
other transfer. There is no assurance that the Selling Stockholders will sell all or a portion of the Common Stock offered hereby under
this Reoffer Prospectus. Further, we cannot assure you that the Selling Stockholders will not transfer, distribute, devise, or gift the
Common Stock by other means not described in this Reoffer Prospectus. In addition to any Common Stock sold hereunder, Selling Stockholders
may sell Common Stock in compliance with Rule 144. Sales of the Common Stock must be made by the Selling Stockholders in compliance with
all applicable state and federal securities laws and regulations, including without limitation, the Securities Act, and more specifically,
Regulation M, which provisions may limit the timing of purchases and sales by the Selling Stockholders. The Selling Stockholders may
agree to indemnify any broker, dealer, or agent that participates in transactions involving sales of the Common Stock against certain
liabilities in connection with the offering of the Common Stock arising under the Securities Act.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Once
sold under the registration statement on Form S-8, of which this Reoffer Prospectus forms a part, the shares of Common Stock will be
freely tradable in the hands of persons other than our affiliates.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="a_008"></A>INFORMATION
INCORPORATED BY REFERENCE</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
hereby incorporate by reference in this Reoffer Prospectus the following:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; width: 48px; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; width: 24px; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the Annual Report on Form 10-K for the fiscal year ended October 31, 2021, filed by us with the SEC on February 16, 2022 (the &ldquo;Annual Report&rdquo;);</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amendment No. 1 to the Annual Report on Form 10-K for the fiscal year ended October 31, 2021, filed by us with the SEC on February 25, 2022;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the Quarterly Report on Form 10-Q for the quarter ended January 31, 2022 filed by us with the SEC on March 17, 2022;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The Quarterly Report on Form 10-Q for the quarter ended April 30, 2022 filed by us with the SEC on June 21, 2022;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the Definitive Proxy Statement on Schedule 14A, filed by us with the SEC on May 4, 2022;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the Current Reports on Form 8-K (other than information furnished rather than filed), filed by us with the SEC on January 31, 2022, February 18, 2022, March 3, 2022, March 10, 2022, April 5, 2022, May 26, 2022, June 13, 2022, June 27, 2022, and June 28, 2022; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the description of our securities contained in Exhibit 4.1 to the Annual Report, including any amendment or report filed to update such description.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
documents subsequently filed by us pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (other than Current Reports furnished
under Item 2.02 or Item 7.01 of Form 8-K and exhibits furnished on such form that relate to such Items) prior to the filing of a post-effective
amendment to the registration statement to which this Reoffer Prospectus relates, which indicates that all securities offered hereby
have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Reoffer
Prospectus and to be a part hereof from the date of filing of such documents.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
statement contained herein or in a document, all or a portion of which is incorporated or deemed to be incorporated by reference herein,
shall be deemed to be modified or superseded for purposes of this Reoffer Prospectus to the extent that a statement contained herein
or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes
such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute
a part of this Reoffer Prospectus.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notwithstanding
the foregoing, no information is incorporated by reference in this Reoffer Prospectus where such information under applicable forms and
regulations of the SEC is not deemed to be &ldquo;filed&rdquo; under Section 18 of the Exchange Act or otherwise subject to the liabilities
of that section, unless the report or filing containing such information indicates that the information therein is to be considered &ldquo;filed&rdquo;
under the Exchange Act or is to be incorporated by reference in this Reoffer Prospectus.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Baker
&amp; Hostetler LLP has passed upon the validity of the shares of Common Stock offered hereby and certain other legal matters related
to this Reoffer Prospectus.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="a_010"></A>EXPERTS</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
consolidated financial statements of Kaival Brands Innovations Group, Inc. and its subsidiaries as of October 31, 2021 and 2020, and
for each of the two years in the period ended October 31, 2021, have been incorporated by reference herein in reliance upon the report
of MaloneBailey, LLP, an independent registered public accounting firm, which is incorporated by reference herein, given on said firm&rsquo;s
authority as experts in auditing and accounting.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="a_011"></A>WHERE
YOU CAN FIND MORE INFORMATION</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
file reports and other information with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports
on Form 8-K, proxy statements, and other documents. The SEC maintains an internet website that contains such reports, proxies, and other
information about issuers, including us, that file electronically with the SEC. The address of that website is www.sec.gov.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
also make these documents available on the Investor Relations portion of our website at www.kaivalbrands.com. Our website and the information
contained or connected to our website is not incorporated by reference in this Reoffer Prospectus, and you should not consider it part
of this Reoffer Prospectus. Our principal executive office is located at 4460 Old Dixie Highway, Grant, Florida 32949, and we can be
reached by telephone at (833) 452-4825.</FONT></P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
3. Incorporation of Documents by Reference.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
hereby incorporate by reference in this Registration Statement the following:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; width: 48px; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; width: 24px; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the Annual Report on Form 10-K for the fiscal year ended October 31, 2021, filed by us with the SEC on February 16, 2022;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amendment No. 1 to the Annual Report on Form 10-K for the fiscal year ended October 31, 2021, filed by us with the SEC on February 25, 2022;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the Quarterly Report on Form 10-Q for the quarter ended January 31, 2022 filed by us with the SEC on March 17, 2022;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The Quarterly Report on Form 10-Q for the quarter ended April 30, 2022 filed by us with the SEC on June 21, 2022;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the Definitive Proxy Statement on Schedule 14A, filed by us with the SEC on May 4, 2022;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the Current Reports on Form 8-K (other than information furnished rather than filed), filed by us with the SEC on January 31, 2022, February 18, 2022, March 3, 2022, March 10, 2022, April 5, 2022, May 26, 2022, June 13, 2022, June 27, 2022, and June 28, 2022; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the description of our securities contained in Exhibit 4.1 to the Annual Report, including any amendment or report filed to update such description.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
documents subsequently filed by us pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (other than Current Reports furnished
under Item 2.02 or Item 7.01 of Form 8-K and exhibits furnished on such form that relate to such items) prior to the filing of a post-effective
amendment to which this Registration Statement relates, which indicates that all securities offered hereby have been sold or which deregisters
all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part
hereof from the date of filing or furnishing of such documents.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
statement contained herein or in a document, all or a portion of which is incorporated or deemed to be incorporated by reference herein,
shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein
or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes
such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute
a part of this Registration Statement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notwithstanding
the foregoing, no information is incorporated by reference in this Registration Statement where such information under applicable forms
and regulations of the SEC is not deemed to be &ldquo;filed&rdquo; under Section 18 of the Exchange Act or otherwise subject to the liabilities
of that section, unless the report or filing containing such information indicates that the information therein is to be considered &ldquo;filed&rdquo;
under the Exchange Act or is to be incorporated by reference in this Registration Statement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
4. Description of Securities.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
5. Interests of Named Experts and Counsel.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
applicable.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
6. Indemnification of Directors and Officers.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Certificate of Incorporation, as may be further amended and restated and in effect from time to time, provides that our directors shall
not be personally liable to us or our stockholders for monetary damages for any breach of fiduciary duty as a director.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the DGCL, our directors have a fiduciary duty to us that is not eliminated by this provision of our Certificate of Incorporation and,
in appropriate circumstances, equitable remedies such as injunctive or other forms of non-monetary relief will remain available. This
provision also does not affect our directors&rsquo; responsibilities under any other laws, such as federal securities laws or state or
federal environmental laws.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
145 of the DGCL empowers a corporation to indemnify its directors and officers against expenses (including attorneys&rsquo; fees), judgments,
fines, and amounts paid in settlements actually and reasonably incurred by them in connection with any action, suit, or proceeding brought
by third parties by reason of the fact that they were or are directors or officers of the corporation, if they acted in good faith, in
a manner they reasonably believed to be in or not opposed to the best interests of the corporation and, with respect to any criminal
action or proceeding, had no reasonable cause to believe that their conduct was unlawful. The DGCL provides further that the indemnification
permitted thereunder shall not be deemed exclusive of any other rights to which the directors and officers may be entitled under the
corporation&rsquo;s bylaws, any agreement, a vote of stockholders or otherwise. Our Bylaws provide that, to the fullest extent permitted
by the DGCL, we will indemnify any person who is or was a party or threatened to be made a party to any proceedings by the reason of
the fact that such person is or was a director or officer of us, or is or was serving at our request as a director, officer, or trustee
of another corporation, partnership, joint venture, trust, or other enterprise, against the expenses, judgments, fines, and amounts paid
in settlement actually and reasonably incurred in connection with such proceedings. Our Bylaws also provide that we will indemnify, to
the fullest extent permitted by the DGCL, we will indemnify any person who was or is a party or is threatened to be made a party to any
proceedings by or in our right to procure a judgment in our favor by reason of the fact that such person is or was a director or officer
of us, or is or was serving at our request as a director, officer, or trustee of another corporation, partnership, joint venture, trust,
or other enterprise, against the expenses, judgments, fines, and amounts paid in settlement actually and reasonably incurred in connection
with such proceedings.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, we have entered into agreements with one of our directors under which, among other things, we have agreed to indemnify such
director against expenses and damages in connection with claims to the fullest extent permitted by our Certificate of Incorporation,
our Bylaws, and the DGCL. At present, there is no pending litigation or proceeding involving such director as to which indemnification
will be required or permitted, and we are not aware of any threatened litigation or proceeding that may result in a claim for such indemnification.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
145 of the DGCL also empowers a corporation to purchase insurance for its officers and directors for such liabilities. We maintain liability
insurance for our officers and directors.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers, and controlling persons
pursuant to the foregoing provisions, or otherwise, we have been advised that in the opinion of the SEC such indemnification is against
public policy as expressed in the Securities Act and is, therefore, unenforceable.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
7. Exemption from Registration Claimed.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
issuance of the Reoffer Prospectus Shares being offered by the Reoffer Prospectus were deemed to be exempt from registration under the
Securities Act in reliance upon Section 4(a)(2) of the Securities Act as transactions by an issuer not involving any public offering
for offers and sales to grantees pursuant to certain written compensatory benefit plans and contracts relating to compensation as provided
thereunder. The recipients of the securities in each of these transactions represented their intentions to acquire the securities for
investment only and not with a view to or for sale in connection with any distribution thereof, and appropriate legends were placed upon
shares issued in these transactions. All recipients had adequate access, through their relationships with us, to information about us.</FONT></P>

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




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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
8. Exhibits.</B></FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
<TD STYLE="padding: 0pt; vertical-align: bottom; width: 67px; border-bottom: black 1.5pt solid; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit Number</B></FONT></TD>
<TD STYLE="padding: 0pt; vertical-align: top; width: 10px; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.1</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1762239/000159991619000052/articlesofinc.htm"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Restated Certificate of Incorporation, which was filed as Exhibit 3.1 to our Registration Statement on Form 10-12G filed with the SEC on March 25, 2019, and is incorporated herein by reference thereto.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.2</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1762239/000159991619000028/bylaws.htm"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bylaws, which were filed as Exhibit 3.2 to our Registration Statement on Form 10-12G filed with the SEC on February 19, 2019, and is incorporated herein by reference thereto.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.3</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1762239/000173112219000386/e1427_3-1.htm"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Certificate of Ownership and Merger, as filed with the Secretary of State of Delaware on June 20, 2019, which was filed as Exhibit 3.1 to our Current Report on Form 8-K filed with the SEC on July 15, 2019, and is incorporated herein by reference thereto.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.4</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1762239/000173112219000386/e1427_3-2.htm"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Certificate of Correction, as filed with the Secretary of State of the State of Delaware on July 15, 2019, which was filed as Exhibit 3.2 to our Current Report on Form 8-K filed with the SEC on July 15, 2019, and is incorporated herein by reference thereto.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.5</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1762239/000159991620000101/designation31_82120.htm"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Certificate of Designation of the Preferences, Rights, and Limitations of the Series A Preferred Stock, as filed with the Secretary of State of the State of Delaware on August 19, 2020, which was filed as Exhibit 3.1 to our Current Report on Form 8-K filed with the SEC on August 21, 2020, and is incorporated herein by reference thereto.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.6</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1762239/000173112221001188/e2932_ex3-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Amendment to the Amended and Restated Certificate of Incorporation, effective July 20, 2021, which was filed as Exhibit 3.1 to our Current Report on Form 8-K filed with the SEC on July 20, 2021, and is incorporated herein by reference thereto.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.1</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1762239/000173112222001007/e3797_ex10-1.htm"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amended and Restated 2020 Stock and Incentive Compensation Plan, which was filed as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on May 26, 2022, and is incorporated herein by reference thereto.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.1*</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><A HREF="e3866_ex5-1.htm"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Opinion of Baker &amp; Hostetler LLP with respect to the legality of the Common Stock being registered.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23.1*</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><A HREF="e3866_ex23-1.htm"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consent of MaloneBailey, LLP, independent registered public accounting firm for the Company.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23.2*</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><A HREF="e3866_ex5-1.htm"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consent of Baker &amp; Hostetler LLP (included in Exhibit 5.1 to this Registration Statement).</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24.1*</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><A HREF="#d_001"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Power of Attorney of certain officers and directors (included on the signature page to this Registration Statement).</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">107*</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><A HREF="e3866_ex-107.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Filing Fee Table</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD COLSPAN="3" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">* Filed herewith.</FONT></TD></TR>
</TABLE>

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




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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
9. Undertakings.</B></FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; width: 24px; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; width: 24px; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The undersigned Registrant
    hereby undertakes:</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; width: 48px; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; width: 24px; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To file, during any period
    in which offers or sales are being made, a post-effective amendment to this Registration Statement:</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; width: 72px; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; width: 24px; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">to include any prospectus
    required by Section 10(a)(3) of the Securities Act;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">to reflect in the prospectus
    any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment
    thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration
    Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of
    securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum
    offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) (&sect; 230.424(b) of
    this chapter) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering
    price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration statement; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">to include any material
    information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change
    to such information in this Registration Statement.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Provided,
however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment
by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section
15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; width: 48px; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; width: 24px; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">That, for the purpose of
    determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement
    relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona
    fide offering thereof; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To remove from registration
    by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; width: 24px; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; width: 24px; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The undersigned Registrant
    hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&rsquo;s
    annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit
    plan&rsquo;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this Registration
    Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
    securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insofar as indemnification
    for liabilities arising under the Securities Act 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 Commission such indemnification
    is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
    against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
    person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
    person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has
    been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by
    it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>




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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Grant, State of Florida on the 29<SUP>th</SUP> day of June, 2022.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>KAIVAL BRANDS INNOVATIONS GROUP, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; width: 50%; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; width: 5%; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid; padding: 0pt; width: 45%; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>/s/ Eric Mosser</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name:</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Eric Mosser</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">President and Chief Operating Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid; padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>/s/ Mark Thoenes</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name:</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mark Thoenes</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Interim Chief Financial Officer</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="d_001"></A>POWER
OF ATTORNEY</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">KNOW
ALL PERSONS BY THESE PRESENTS, that each of the undersigned constitutes and appoints each of Eric Moser and Mark Thoenes each acting
alone, their true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for such person and in
their name, place and stead, in any and all capacities, to sign this Registration Statement on Form S-8 and all post-effective amendments
thereto, of The Arena Group Holdings, Inc., and to file the same, with all exhibits thereto, and other document in connection therewith,
with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, each acting alone, full power and authority
to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and
purposes as he or she might or could do in person, hereby ratifying and confirming that any such attorney-in-fact and agent, or his or
her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities
and on the dates indicated.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; width: 34%; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Signature</B></FONT></TD>
<TD STYLE="padding: 0pt 0pt 1pt; width: 1%; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; width: 44%; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Title of Capacities</B></FONT></TD>
<TD STYLE="padding: 0pt 0pt 1pt; width: 1%; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; width: 20%; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Date</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>/s/ Eric Mosser</I></FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">President, Chief Operating Officer, Director</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">June 29, 2022</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Eric Mosser</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Principal Executive Officer)</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>/s/ Mark Thoenes</I></FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Interim Chief Financial Officer</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">June 29, 2022</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mark Thoenes</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Principal Financial Officer)</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>/s/ Paul Reuter</I></FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">June 29, 2022</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Paul Reuter</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>/s/ Roger Brooks</I></FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">June 29, 2022</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Roger Brooks</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>/s/ George Chuang</I></FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">June 29, 2022</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">George Chuang</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>/s/ Nirajkumar Patel</I></FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">June 29, 2022</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Nirajkumar Patel</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
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[{"type": "S-8", "sequence": "1", "filename": "e3866_s-8.htm", "description": "FORM S-8", "secsgml_size_bytes": 212551}]
{"company-data": {"conformed-name": "Kaival Brands Innovations Group, Inc.", "cik": "0001762239", "assigned-sic": "5960", "irs-number": "833492907", "fiscal-year-end": "1031"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-265897", "film-number": "221054884"}, "business-address": {"street1": "4460 OLD DIXIE HIGHWAY", "city": "GRANT", "state": "FL", "zip": "32949", "phone": "(833) 452-4825"}, "mail-address": {"street1": "4460 OLD DIXIE HIGHWAY", "city": "GRANT", "state": "FL", "zip": "32949"}, "former-company": {"former-conformed-name": "Quick Start Holdings, Inc.", "date-changed": "20181218"}}
As
filed with the U.S. Securities and Exchange Commission on June 29, 2022
Registration
No. 333-
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
S-8
REGISTRATION
STATEMENT
UNDER
THE
SECURITIES ACT OF 1933
KAIVAL
BRANDS INNOVATIONS GROUP, INC.
(Exact
Name of Registrant as Specified in Its Charter)
Delaware
833492907
(State
or other jurisdiction of
incorporation or organization)
(I.R.S.
Employer
Identification Number)
4460
Old Dixie Highway
Grant,
Florida 32949
(Address
of Principal Executive Offices)(Zip Code)
Amended
and Restated 2020 Stock and Incentive Compensation Plan
(Full
title of the plan)
Eric
Mosser
President
and Chief Operating Officer
Kaival
Brands Innovations Group, Inc.
4460
Old Dixie Highway
Grant,
Florida 32949
(Name
and address of agent for service)
(833)
452-4825
(Telephone
number, including area code, of agent for service)
z
Copies
to:
Amy
Shepherd, Esq.
Baker
& Hostetler LLP
200
Civic Center Drive, Suite 1200
Columbus,
Ohio 43215
(614)
462-4712
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer,"
"smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☐
Accelerated filer ☐
Non-accelerated filer ☒
Smaller reporting company ☒
Emerging growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.
EXPLANATORY
NOTE
Kaival
Brands Innovations Group, Inc. (the "Company" or the "Registrant") has filed with the U.S. Securities and Exchange
Commission (the "SEC" or the "Commission") this registration statement on Form S-8 (this "Registration
Statement") to register under the Securities Act of 1933, as amended (the "Securities Act"), the following shares of
common stock, par value of $0.001 per share (the "Common Stock"), of the Company:
(1)
the offer and sale of up
    to 11,571,046 shares of Common Stock available for issuance under the Amended and Restated 2020 Stock and Incentive Compensation
    Plan (the "Plan"); and
(2)
3,052,265 shares of Common
    Stock issuable upon the exercise of stock options ("Outstanding Options") previously granted under the Plan; and
(3)
the reoffer and resale
    of 301,689 shares of Common Stock (the "Reoffer Prospectus Shares"), which includes shares previously issued under the
    Plan.
The
inclusion of such shares of Common Stock herein does not necessarily represent a present intention to sell all or any such shares Common
Stock. Pursuant to Rule 416(a) under the Securities Act, this Registration Statement also covers any additional shares of Common Stock
that have been issued or may become issuable under the Plan as a result of anti-dilution provisions described therein by reason of any
dividend, share split, recapitalization or other similar transaction.
This
Registration Statement includes a prospectus (the "Reoffer Prospectus"), which may be used for reofferings and resales of
certain shares of Common Stock that have been or will be, as appliable in accordance with General Instruction C of Form S-8, acquired
pursuant to an employee benefit plan, where such shares are listed above and may be deemed to be "control securities" or
"restricted securities" under the Securities Act. These are shares that were acquired by our officers, directors, and affiliates,
or that were acquired by our employees or consultants (the "Selling Stockholders"). The Selling Stockholders are identified
in the Reoffer Prospectus to the extent required.
The
Reoffer Prospectus is prepared in accordance with General Instruction C of Form S-8 and the requirements of Part I of Form S-3. The Reoffer
Prospectus permits reoffers and resales on a continuous or delayed basis of the Reoffer Prospectus Shares. As specified in General Instruction
C of Form S-8, the amount of securities to be reoffered or resold under the Reoffer Prospectus by each Selling Stockholder, and any other
person with whom they are acting in concert for the purpose of selling the Company's securities, may not exceed, during any three-month
period, the amount specified in Rule 144(e) under the Securities Act.
PART
I
INFORMATION
REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item
1. Plan Information.*
Item
2. Registrant Information and Employee Plan Annual Information.*
*
The information specified
    in Items 1 and 2 of Part I of Form S-8 is omitted from this Registration Statement in accordance with the provisions of Rule 428
    under the Securities Act and the introductory note to Part I of Form S-8. The documents containing the information specified in Part
    I of this Registration Statement will be sent or given to each recipient of a grant under the Plan, and as required by Rule 428(b)
    under the Securities Act. Such documents are not required to be, and are not being filed with the SEC, either as part of this Registration
    Statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. These documents, and the documents
    incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of this Registration Statement, taken together,
    constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.
REOFFER
PROSPECTUS
KAIVAL
BRANDS INNOVATIONS GROUP, INC.
301,689
Shares of Common Stock
Offered
by Selling Stockholders
This
reoffer prospectus (the "Reoffer Prospectus") relates to the offer and sale from time to time by selling stockholders (the
"Selling Stockholders"), or their permitted transferees, of up to 301,689 shares of Common Stock, par value $0.001 ("Common
Stock"), of Kaival Brands Innovations Group, Inc., a Delaware corporation (unless otherwise indicated or the context otherwise
requires, the "Company," "Kaival Brands," "we," "our," or "us") that have
been acquired in connection with equity awards granted under the Amended and Restated 2020 Stock and Incentive Plan (the "Plan").
We are not offering any shares of Common Stock and will not receive any proceeds from the sale of the shares of Common Stock by the Selling
Stockholders pursuant to this Reoffer Prospectus. The Selling Stockholders are our "affiliates" (as defined in Rule 405 under
the Securities Act of 1933, as amended (the "Securities Act")) or are our "non-affiliates" who hold shares of
Common Stock, which were issued pursuant to awards granted under the Plan.
The
Selling Stockholders may from time to time sell, transfer, or otherwise dispose of any or all of the shares of Common Stock covered by
this Reoffer Prospectus in various types of transactions, including through underwriters or dealers, directly to purchasers (or a single
purchaser) or through broker-dealers or agents. If underwriters or dealers are used to sell the shares of Common Stock, we will name
them and describe their compensation in a prospectus supplement. The shares of Common Stock may be sold in one or more transactions at
fixed prices, prevailing market prices at the time of sale, prices related to the prevailing market prices, varying prices determined
at the time of sale or negotiated prices. We do not know when or in what amount the Selling Stockholders may offer the shares of Common
Stock for sale. The Selling Stockholders may sell any, all or none of the shares of Common Stock offered by this Reoffer Prospectus.
See "
Plan of Distribution
" beginning on page 7 for more information about how the Selling Stockholders may sell or
dispose of the shares of Common Stock covered by this Reoffer Prospectus.
The
shares of Common Stock covered by this Reoffer Prospectus are "restricted securities" within the meaning of Rule 144 under
the Securities Act before their sale under this Reoffer Prospectus. This Reoffer Prospectus has been prepared for the purposes of registering
the shares of Common Stock under the Securities Act to allow for future sales by the Selling Stockholders on a continuous or delayed
basis to the public without restriction.
Our
Common Stock is listed on the Nasdaq Capital Market ("Nasdaq") under the symbol "KAVL." On June 27, 2022, the
closing price of our Common Stock was $1.59 per share.
Investing
in our securities involves risks that are described in the "Risk Factors" section on page 3 of this Reoffer Prospectus.
Neither
the Securities and Exchange Commission (the "SEC") nor any state securities commission has approved or disapproved of the
securities to be issued under this Reoffer Prospectus or determined if this Reoffer Prospectus is truthful or complete. Any representation
to the contrary is a criminal offense.
The
date of this prospectus is June 29, 2022.
TABLE
OF CONTENTS
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
ii
PROSPECTUS SUMMARY
1
RISK FACTORS
3
DETERMINATION OF OFFERING PRICE
3
USE OF PROCEEDS
3
SELLING STOCKHOLDERS
4
PLAN OF DISTRIBUTION
7
INFORMATION INCORPORATED BY REFERENCE
9
LEGAL MATTERS
9
EXPERTS
9
WHERE YOU CAN FIND MORE INFORMATION
10
Neither
we nor the Selling Stockholders have authorized anyone to provide any information or to make any representations other than those contained
in this Reoffer Prospectus or any accompanying prospectus supplement that we have prepared. We and the Selling Stockholders take no responsibility
for, and can provide no assurance as to the reliability of, any other information that others may give you. This Reoffer Prospectus is
an offer to sell only the securities offered hereby, and only under circumstances and in jurisdictions where it is lawful to do so. No
dealer, salesperson or other person is authorized to give any information or to represent anything not contained in this Reoffer Prospectus
or any applicable prospectus supplement. This Reoffer Prospectus is not an offer to sell securities, and it is not soliciting an offer
to buy securities, in any jurisdiction where the offer or sale is not permitted. You should assume that the information appearing in
this Reoffer Prospectus or any prospectus supplement is accurate only as of the date on the front of those documents only, regardless
of the time of delivery of this Reoffer Prospectus or any applicable prospectus supplement, or any sale of a security. Our business,
financial condition, results of operations, and prospects may have changed since those dates.
i
CAUTIONARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This
Reoffer Prospectus and the documents incorporated by reference in this Reoffer Prospectus may constitute forward-looking statements,
including statements about our financial condition, results of operations, earnings outlook, and prospects. In addition, any statements
in this Reoffer Prospectus or the documents incorporated by reference in this Reoffer Prospectus that refer to projections, forecasts
or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking
statements are typically identified by words such as "plan," "believe," "expect," "anticipate,"
"intend," "outlook," "estimate," "forecast," "project," "continue,"
"could," "may," "might," "possible," "potential," "predict,"
"should," "would," and other similar words and expressions, but the absence of these words does not mean that
a statement is not forward-looking.
All
statements, other than statements of historical facts, which address activities, events, or developments that we expect or anticipate
will or may occur in the future, including such things as future capital expenditures, business strategy, statements related to the expected
effects on our business from the novel coronavirus ("COVID-19") pandemic, our ability to obtain the products we distribute
from Bidi Vapor, LLC ("Bidi"), the timing and outcome of Bidi's appeal of the U.S. Food and Drug Administration's
(the "FDA") Premarket Tobacco Product Application ("PMTA") determinations, the scope of future FDA enforcement
of regulations in the electronic nicotine delivery system ("ENDS"), the FDA's approach to the regulation and enforcement
of synthetic nicotine and our competitors' use of the substance in their products to avoid the PMTA requirements, the impact of
black-market goods on our business, the success of our agreement with Philip Morris Products S.A. ("PMPSA"), including the
distribution of our products in international markets, the demand for the products we distribute, anticipated product performance, market
and industry expectations, significant changes in our relationships with our distributors or sub-distributors, changes in government
regulation or laws that affect our business, and circumstances or developments that may make us unable to implement or realize the anticipated
benefits, or that may increase the costs of our current and planned business initiatives, and other similar matters are forward-looking
statements. These forward-looking statements are based largely on our current expectations and assumptions and are subject to a number
of risks and uncertainties, many of which are beyond our control. These statements are subject to many risks, uncertainties, and other
important factors that could cause actual future results to differ materially from those expressed in the forward-looking statements
including, but not limited to, the factor detailed under the section entitled "Risk Factors."
We
caution you that any forward-looking statements presented in this Reoffer Prospectus, or that we may make orally or in writing from time
to time, are based on the beliefs of, assumptions made by, and information currently available to, us. Such statements are based on assumptions,
and the actual outcome will be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control or
ability to predict. Although we believe that our assumptions are reasonable, they are not guarantees of future performance, and some
will inevitably prove to be incorrect. As a result, our actual future results can be expected to differ from our expectations, and those
differences may be material. Accordingly, you should use caution in relying on forward-looking statements, which are based only on known
results and trends at the time they are made, to anticipate future results or trends.
ii
PROSPECTUS
SUMMARY
This
summary highlights selected information from this Reoffer Prospectus and may not contain all of the information that is important in
making an investment decision. This summary is qualified in its entirety by the more detailed information included in this Reoffer Prospectus.
Before making your investment decision with respect to our securities, you should carefully read this entire Reoffer Prospectus, including
the information under "Risk Factors," in this Reoffer Prospectus.
Unless
otherwise indicated or the context otherwise requires, references in this prospectus to the "Company," "Kaival Brands,"
"we," "our," "us," and other similar terms refer to Kaival Brands Innovations Group, Inc. and our
subsidiaries.
Overview
We
are focused on growing and incubating innovative and profitable products into mature, dominant brands. On March 9, 2020, we commenced
business operations by entering into an exclusive distribution agreement (the "Distribution Agreement") with Bidi, a related
party company, which Distribution Agreement was amended and restated on May 21, 2020, on April 20, 2021, and June 10, 2022 (collectively
the "A&R Distribution Agreement") in order to clarify some of the provisions. Pursuant to the A&R Distribution Agreement,
Bidi granted us an exclusive worldwide right to distribute the ENDS and related components (the "Products") for sale and
resale to both retail level customers and non-retail level customers. We ceased all retail/direct-to-consumer sales in February 2021.
Pursuant to the terms of the A&R Distribution Agreement, Bidi provides us with all the branding, logos, and marketing materials to
be utilized by us in connection with our marking and promotion of the Products. We do not manufacture any of the Products we resell.
Currently, the Products consist primarily of the "BIDI
®
Stick," a disposable, tamper-resistant ENDS Product
and, once launched, of which there can be no assurances, the "BIDI
®
Pouch," which provides a tobacco-derived
nicotine formulation, containing natural fibers and a chew-base filler.
The
A&R Distribution Agreement has a term of ten years, which automatically renews for another ten-year term, unless earlier terminated
by the parties and, provided, that we satisfy certain minimum purchase thresholds. The A&R Distribution Agreement also provides us
with a right of first refusal in the event Bidi receives an offer that would constitute a "change of control transaction,"
as well as a right of first refusal to act as the exclusive distributor of any and all future products of Bidi that arise out of or related
to ENDS and components related to ENDS, or arise out of or related to the tobacco-derived nicotine industry.
In
connection with the A&R Distribution Agreement, we entered into non-exclusive sub-distribution agreements, some of which were subsequently
amended and restated by the parties in order to clarify certain provisions (all such sub-distribution agreements, as amended and restated,
are collectively referred to as the "Sub-Distribution Agreements"), whereby we appointed the counterparties as non-exclusive
sub-distributors. Pursuant to the Sub-Distribution Agreements, the sub-distributors agreed to purchase for resale the Products in such
quantities as they should need to properly service non-retail customers within the continental United States (the "Territory").
On June 13, 2022, our wholly owned subsidiary, Kaival Brands International, LLC ("KBI"), entered into a deed of licensing
agreement (the "PMI Licensing Agreement"), with PMPSA, pursuant to which PMPSA will manufacture and distribute the Products
in certain international markets.
We
process all sales made only to non-retail customers located in the United States, with all sales to non-retail customers made through
Bidi's age-restricted website, www.wholesale.bidivapor.com. We ceased all retail/direct-to-consumer sales in February 2021 in order
to better ensure youth access prevention and to comply with the Prevent All Cigarette Trafficking ("PACT") Act. We provide
all customer service and support at our own expense. Bidi sets the minimum prices for all sales made by us. We maintain adequate inventory
levels of the Products in order to meet the demands of our non-retail customers, and deliver the Products sold to these customers.
1
About
this Offering
This
Reoffer Prospectus relates to the public offering, which is not being underwritten, by the Selling Stockholders listed in this Reoffer
Prospectus, of up to 301,689 shares of Common Stock that have been or will be issued to each Selling Stockholder pursuant to an award
agreement between the Selling Stockholder and us, granted under the Plan. The Selling Stockholders may from time to time sell, transfer,
or otherwise dispose of any or all of the shares of Common Stock covered by this Reoffer Prospectus through underwriters or dealers,
directly to purchasers (or a single purchaser), or through broker-dealers or agents. We will receive none of the proceeds from the sale
of the shares of Common Stock by the Selling Stockholders. The Selling Stockholders will bear all sales commissions and similar expenses
in connection with this offering. We will bear all expenses of registration incurred in connection with this Reoffer Prospectus, as well
as any other expenses incurred by us in connection with the registration and offering that are not borne by the Selling Stockholders.
Corporate
Information
The
mailing address of our principal executive office is 4460 Old Dixie Highway, Grant, Florida 32949, and our telephone number is (833)
452-4825. Our website address is
www.kaivalbrands.com
. Information on or accessed through our website is not incorporated into
this Reoffer Prospectus and is not a part of this Reoffer Prospectus.
2
RISK
FACTORS
An
investment in our Common Stock involves a high degree of risk. Before making an investment decision, you should carefully consider the
risks described under Part I, Item 1A: "Risk Factors" in our Annual Report on Form 10-K for the year ended October 31, 2021,
together with all of the other information appearing in or incorporated by reference into this Reoffer Prospectus. Our business, prospects,
financial condition, or operating results could be harmed by any of these risks, as well as other risks not currently known to us or
that we currently consider immaterial. The trading price of our Common Stock could decline due to any of these risks, and, as a result,
you may lose all or part of your investment. The risks we have described also include forward-looking statements, and our actual results
may differ substantially from those discussed in these forward-looking statements. See "
Cautionary Note Regarding Forward-Looking
Statements
."
DETERMINATION
OF OFFERING PRICE
The
Selling Stockholders will determine at what price they may sell the shares of Common Stock offered hereby, and such sales may be made
at prevailing market prices or at privately negotiated prices. See "
Plan of Distribution
" below for more information.
USE
OF PROCEEDS
The
shares of Common Stock offered hereby are being registered for the account of the Selling Stockholders named in this Reoffer Prospectus.
All proceeds from the resale of the shares of Common Stock by the Selling Stockholders will go to the Selling Stockholders and we will
not receive any proceeds from such resale.
3
SELLING
STOCKHOLDERS
The
table below sets forth, as of June 24, 2022 (the "Determination Date"), (i) the name of each Selling Stockholder who is offering
the resale of shares by this Reoffer Prospectus; (ii) the number of shares (and the percentage, if 1% or more) of Common Stock beneficially
owned (determined in the manner described in footnote (1) to the table below) by each person; (iii) the number of shares that each Selling
Stockholder may offer for sale from time to time pursuant to this Reoffer Prospectus, whether or not such Selling Stockholder has a present
intention to do so; and (iv) the number of shares (and the percentage, if 1% or more) of Common Stock each person will own after the
offering, assuming they sell all of the shares of Common Stock offered hereunder. Unless otherwise indicated, beneficial ownership is
direct, and the person indicated has sole voting and investment power. The address for each Selling Stockholder listed in the table below
is c/o Kaival Brands Innovations Group, Inc., 4460 Old Dixie Highway, Grant, Florida 32949.
Common Stock
Beneficially Owned Prior
to the Offering
Common
Stock Being Offered
Common Stock Beneficially Owned After the Offering
Selling Stockholders
Shares
(1)
Percentage
(1)
Shares
Shares
(1)(2)
Percentage
(1)(2)
Nirajkumar Patel
(3)
42,731,634
75.27
%
106,585
42,025,049
74.82
%
Eric Mosser
(4)
42,574,998
75.13
%
71,045
42,003,953
74.78
%
Pareshkumar Patel
(5)
59,279
**
37,679
—
—
Kristy Fontes
(6)
46,440
**
10,440
—
—
Nikesh Patel
(7)
27,746
**
9,746
—
—
Joseph Mosser
(8)
68,016
**
32,016
—
—
Chiatesh Patel
(9)
65,378
**
96,578
—
—
Total Selling Stockholders
43,544,489
58.52
%
301,689
42,029,002
74.83
%
**
Represents less than 1%
(1)
The number and percentage of shares beneficially owned is determined in accordance with Rule 13d-3 of the Securities Exchange Act of 1934, as amended, and the information is not necessarily indicative of beneficial ownership for any other purpose. Under such rule, beneficial ownership includes any shares as to which the Selling Stockholder has sole or shared voting power or investment power and also any shares which the Selling Stockholder has the right to acquire within 60 days. Applicable percentage of beneficial ownership is based on 31,169,090 shares of Common Stock issued and outstanding as of the Determination Date.
(2)
Assumes that all of the shares of Common Stock held by each Selling Stockholder and being offered under this Reoffer Prospectus are sold, and that no Selling Stockholder will acquire additional shares of Common Stock before the completion of this offering.
(3)
Mr. Patel serves as our Chief Science and Regulatory Officer and a director. Shares of our Common Stock beneficially owned prior to this offering consist of: (i) 131,634 shares of our Common Stock; (ii) 600,000 shares of our Common Stock issuable upon exercise of vested stock options; and (iii) 42,000,000 shares of our Common Stock owned by Kaival Holdings, LLC ("KH"), an entity over which Mr. Patel has shared dispositive and voting authority. The shares of Common Stock registered for resale hereunder represent shares issued upon the vesting of restricted stock units.
(4)
Mr. Mosser serves as President, Chief Operating Officer, Secretary, and one of our directors. Shares of our Common Stock beneficially owned prior to this offering consist of: (i) 74,998 shares of our Common Stock; (ii) 250,000 shares of our Common Stock issuable upon exercise of vested stock options; and (iii) 42,000,000 shares of our Common Stock owned by KH, an entity over which Mr. Mosser has shared dispositive and voting authority. The shares of Common Stock registered for resale hereunder represent shares issued upon the vesting of restricted stock units.
(5)
Mr. Patel is one of our employees. Shares of our Common Stock beneficially owned prior to this offering consist of: (i) 37,679 shares of our Common Stock; and (ii) 21,600 shares of our Common Stock issuable upon the exercise of vested stock options. The shares of Common Stock registered for resale hereunder represent shares issued upon the vesting of restricted stock units.
(6)
Ms. Fontes is one of our employees and is a sibling of one of our officers. Shares of our Common Stock beneficially owned prior to this offering consist of: (i) 10,440 shares of our Common Stock and (ii) 36,000 shares of our Common Stock issuable upon the exercise of vested stock options. The shares of Common Stock registered for resale hereunder represent shares issued upon the vesting of restricted stock units.
4
(7)
Mr. Patel is one of our employees. Shares of our Common Stock beneficially owned prior to this offering consist of (i) 9,746 shares of our Common Stock and (ii) 18,000 shares of our Common Stock issuable upon the exercise of vested options. The shares of Common Stock registered for resale hereunder represent shares issued upon the vesting of restricted stock units.
(8)
Mr. Mosser is one of our employees and is the sibling of one of our officers. Shares of our Common Stock beneficially owned prior to this offering consist of: (i) 32,016 shares of our Common Stock and (ii) 36,000 shares of our Common Stock issuable upon the exercise of vested stock options. The shares of Common Stock registered for resale hereunder represent shares issued upon the vesting of restricted stock units.
(9)
Mr. Patel is one of our employees. Shares of our Common Stock beneficially owned prior to this offering consist of (i) 34,178 shares of our Common Stock and (ii) 31,200 shares of our Common Stock issuable upon the exercise of vested stock options. The shares of Common Stock registered for resale hereunder represent shares issued upon the vesting of restricted stock units.
The
Selling Stockholders identified above may have sold, transferred, or otherwise disposed of some or all of their shares since the date
as of which the information in the above table is presented in transactions exempt from or not subject to the registration requirements
of the Securities Act. Information concerning the Selling Stockholders may change from time to time and, if necessary, we will amend
or supplement this Reoffer Prospectus accordingly. We cannot give an estimate as to the number of shares of Common Stock that will actually
be held by the Selling Stockholders upon termination of this offering because the Selling Stockholders may offer some or all of their
Common Stock under the offering contemplated by this Reoffer Prospectus or acquire additional shares of Common Stock.
Other
Material Relationships with the Selling Stockholders
The
Selling Stockholders represent current directors, officers, employees, and consultants. In connection with their roles, we have entered
into a variety of agreements with such individuals. We have indicated such material relationships with certain of the Selling Stockholders
in the footnotes to the Selling Stockholders table above.
Indemnification
Agreements with Directors and Officers
We
previously entered into independent director agreements with Messers Reuter, Brooks, and Chuang. The director agreement provides for
indemnification and advancements by us of certain expenses and costs relating to claims, suits, or proceedings arising from his service
to or on our behalf, as a director to the maximum extent permitted by applicable law. We have not entered into any other indemnification
agreements with any other officer or director.
Our
Restated Certificate of Incorporation, as amended, and as may be further amended and restated from time to time (our "Certificate
of Incorporation"), provides that to the fullest extent permitted by the Delaware General Corporation Law ("DGCL"),
a director cannot be personally liable to us or our stockholders for monetary damages for breach of fiduciary duty. DGCL provides that
such a provision may not limit the liability of directors: (i) for any breach of their duty of loyalty to us or to our stockholders;
(ii) for acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law; (iii) for unlawful
payment of a dividend or unlawful stock repurchase or redemption, as provided under Section 174 of the DGCL; or (iv) for any transaction
from which the director derived an improper personal benefit.
5
Further,
our Bylaws ("Bylaws") provide that we will indemnify, to the fullest extent permitted by the DGCL, as now or hereinafter
in effect, any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit
by or in our right to procure a judgment in our favor by reason of the fact that such person is or was a director or officer of our,
or is or was a director or officer of ours serving at our request as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise against expenses (including attorneys' fees) actually and reasonably incurred by such
person in connection with the defense or settlement of such action or suit if such person acted in good faith and in a manner such person
reasonably believed to be in or not opposed to our best interests and, with respect to any criminal action or proceeding, had no reasonable
cause to believe his conduct was unlawful. The termination of any action, suit, or proceeding by judgment, order, settlement, conviction
or upon plea of nolo contendere or its equivalent, does not, of itself, create a presumption that the person did not act in good faith
and in a manner which he reasonably believed to be in or not opposed to our best interests and, with respect to any criminal action or
proceeding, that he had reasonable cause to believe that his conduct was unlawful.
Our
Bylaws also requires us to pay any expenses incurred by any director or officer in defending against any such action, suit, or proceeding
in advance of the final disposition of such matter upon receipt of a written request to the fullest extent permitted by law, subject
to the receipt of an undertaking by or on behalf of such person to repay all amounts so advanced if it shall ultimately be determined
that such person is not entitled to be indemnified as authorized by our Bylaws or otherwise. We believe that the limitation of liability
provision in our Bylaws facilitates our ability to continue to attract and retain qualified individuals to serve as directors and officers.
6
PLAN
OF DISTRIBUTION
For
information about this offering and the securities to be registered, please see the above sections entitled "
About this Offering
"
and "
Selling Stockholders
" in this Reoffer Prospectus, which describe certain transactions. These transactions may
include block transactions or crosses. Crosses are transactions in which the same broker acts as an agent on both sides of the trade.
The Selling Stockholders may sell the Common Stock through one or more underwriters, agents, brokers-dealers or directly to purchasers.
Such broker-dealers may receive compensation in the form of commissions, discounts, or concessions from the Selling Stockholders or purchasers
of the Common Stock or both. Such compensation as to a particular broker-dealer may be in excess of customary commissions.
At
the time a particular offering of the Common Stock is made, a prospectus supplement, if required, will be distributed, which will set
forth the name of the Selling Stockholders, the aggregate amount of the Common Stock being offered and the terms of the offering, including,
to the extent required, (1) the name or names of any underwriters, broker-dealers, or agents, (2) any discounts, commissions, and other
terms constituting compensation from the Selling Stockholders, and (3) any discounts, commissions, or concessions allowed or reallowed
to be paid to broker-dealers.
In
connection with their sales, a Selling Stockholder, and any participating broker-dealer may be deemed to be "underwriters"
within the meaning of the Securities Act, and any commissions they receive and the proceeds of any sale of Common Stock may be deemed
to be underwriting discounts and commissions under the Securities Act. Any commissions or other fees payable to broker-dealers in connection
with any sale of the Common Stock will be borne by the Selling Stockholders or other party selling such shares of Common Stock. Underwriters
are subject to the prospectus delivery requirements of the Securities Act and may be subject to certain statutory liabilities under the
Securities Act and the Exchange Act. We will make copies of this prospectus available to the Selling Stockholders for the purpose of
satisfying the prospectus delivery requirements of the Securities Act. We have notified the Selling Stockholders of the need to deliver
a copy of this Reoffer Prospectus in connection with any sale of the Common Stock. To our knowledge, there are currently no plans, arrangements,
or understandings between the Selling Stockholders and any underwriter, broker-dealer, or agent regarding the sale of the shares of Common
Stock by the Selling Stockholders.
The
shares of Common Stock may be sold in one or more transactions at:
●
fixed prices;
●
prevailing market prices at the time of sale;
●
prices related to such prevailing market prices
●
varying prices determined at the time of sale; or
●
negotiated prices.
These
sales may be effected in one or more transactions:
●
on any national securities
    exchange or quotation service on which the shares of Common Stock may be listed or quoted at the time of sale, including the Nasdaq;
●
in the over-the-counter
    market;
●
in transactions otherwise
    than on such exchanges or services or in the over-the-counter market;
●
any other method permitted
    by applicable law; or
●
through any combination
    of the foregoing.
7
The
Selling Stockholders will act independently of us in making decisions with respect to the timing, manner, and size of each resale or
other transfer. There is no assurance that the Selling Stockholders will sell all or a portion of the Common Stock offered hereby under
this Reoffer Prospectus. Further, we cannot assure you that the Selling Stockholders will not transfer, distribute, devise, or gift the
Common Stock by other means not described in this Reoffer Prospectus. In addition to any Common Stock sold hereunder, Selling Stockholders
may sell Common Stock in compliance with Rule 144. Sales of the Common Stock must be made by the Selling Stockholders in compliance with
all applicable state and federal securities laws and regulations, including without limitation, the Securities Act, and more specifically,
Regulation M, which provisions may limit the timing of purchases and sales by the Selling Stockholders. The Selling Stockholders may
agree to indemnify any broker, dealer, or agent that participates in transactions involving sales of the Common Stock against certain
liabilities in connection with the offering of the Common Stock arising under the Securities Act.
Once
sold under the registration statement on Form S-8, of which this Reoffer Prospectus forms a part, the shares of Common Stock will be
freely tradable in the hands of persons other than our affiliates.
8
INFORMATION
INCORPORATED BY REFERENCE
We
hereby incorporate by reference in this Reoffer Prospectus the following:
●
the Annual Report on Form 10-K for the fiscal year ended October 31, 2021, filed by us with the SEC on February 16, 2022 (the "Annual Report");
●
Amendment No. 1 to the Annual Report on Form 10-K for the fiscal year ended October 31, 2021, filed by us with the SEC on February 25, 2022;
●
the Quarterly Report on Form 10-Q for the quarter ended January 31, 2022 filed by us with the SEC on March 17, 2022;
●
The Quarterly Report on Form 10-Q for the quarter ended April 30, 2022 filed by us with the SEC on June 21, 2022;
●
the Definitive Proxy Statement on Schedule 14A, filed by us with the SEC on May 4, 2022;
●
the Current Reports on Form 8-K (other than information furnished rather than filed), filed by us with the SEC on January 31, 2022, February 18, 2022, March 3, 2022, March 10, 2022, April 5, 2022, May 26, 2022, June 13, 2022, June 27, 2022, and June 28, 2022; and
●
the description of our securities contained in Exhibit 4.1 to the Annual Report, including any amendment or report filed to update such description.
All
documents subsequently filed by us pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (other than Current Reports furnished
under Item 2.02 or Item 7.01 of Form 8-K and exhibits furnished on such form that relate to such Items) prior to the filing of a post-effective
amendment to the registration statement to which this Reoffer Prospectus relates, which indicates that all securities offered hereby
have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Reoffer
Prospectus and to be a part hereof from the date of filing of such documents.
Any
statement contained herein or in a document, all or a portion of which is incorporated or deemed to be incorporated by reference herein,
shall be deemed to be modified or superseded for purposes of this Reoffer Prospectus to the extent that a statement contained herein
or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes
such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute
a part of this Reoffer Prospectus.
Notwithstanding
the foregoing, no information is incorporated by reference in this Reoffer Prospectus where such information under applicable forms and
regulations of the SEC is not deemed to be "filed" under Section 18 of the Exchange Act or otherwise subject to the liabilities
of that section, unless the report or filing containing such information indicates that the information therein is to be considered "filed"
under the Exchange Act or is to be incorporated by reference in this Reoffer Prospectus.
LEGAL
MATTERS
Baker
& Hostetler LLP has passed upon the validity of the shares of Common Stock offered hereby and certain other legal matters related
to this Reoffer Prospectus.
EXPERTS
The
consolidated financial statements of Kaival Brands Innovations Group, Inc. and its subsidiaries as of October 31, 2021 and 2020, and
for each of the two years in the period ended October 31, 2021, have been incorporated by reference herein in reliance upon the report
of MaloneBailey, LLP, an independent registered public accounting firm, which is incorporated by reference herein, given on said firm's
authority as experts in auditing and accounting.
9
WHERE
YOU CAN FIND MORE INFORMATION
We
file reports and other information with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports
on Form 8-K, proxy statements, and other documents. The SEC maintains an internet website that contains such reports, proxies, and other
information about issuers, including us, that file electronically with the SEC. The address of that website is www.sec.gov.
We
also make these documents available on the Investor Relations portion of our website at www.kaivalbrands.com. Our website and the information
contained or connected to our website is not incorporated by reference in this Reoffer Prospectus, and you should not consider it part
of this Reoffer Prospectus. Our principal executive office is located at 4460 Old Dixie Highway, Grant, Florida 32949, and we can be
reached by telephone at (833) 452-4825.
10
PART
II
INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT
Item
3. Incorporation of Documents by Reference.
We
hereby incorporate by reference in this Registration Statement the following:
●
the Annual Report on Form 10-K for the fiscal year ended October 31, 2021, filed by us with the SEC on February 16, 2022;
●
Amendment No. 1 to the Annual Report on Form 10-K for the fiscal year ended October 31, 2021, filed by us with the SEC on February 25, 2022;
●
the Quarterly Report on Form 10-Q for the quarter ended January 31, 2022 filed by us with the SEC on March 17, 2022;
●
The Quarterly Report on Form 10-Q for the quarter ended April 30, 2022 filed by us with the SEC on June 21, 2022;
●
the Definitive Proxy Statement on Schedule 14A, filed by us with the SEC on May 4, 2022;
●
the Current Reports on Form 8-K (other than information furnished rather than filed), filed by us with the SEC on January 31, 2022, February 18, 2022, March 3, 2022, March 10, 2022, April 5, 2022, May 26, 2022, June 13, 2022, June 27, 2022, and June 28, 2022; and
●
the description of our securities contained in Exhibit 4.1 to the Annual Report, including any amendment or report filed to update such description.
All
documents subsequently filed by us pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (other than Current Reports furnished
under Item 2.02 or Item 7.01 of Form 8-K and exhibits furnished on such form that relate to such items) prior to the filing of a post-effective
amendment to which this Registration Statement relates, which indicates that all securities offered hereby have been sold or which deregisters
all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part
hereof from the date of filing or furnishing of such documents.
Any
statement contained herein or in a document, all or a portion of which is incorporated or deemed to be incorporated by reference herein,
shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein
or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes
such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute
a part of this Registration Statement.
Notwithstanding
the foregoing, no information is incorporated by reference in this Registration Statement where such information under applicable forms
and regulations of the SEC is not deemed to be "filed" under Section 18 of the Exchange Act or otherwise subject to the liabilities
of that section, unless the report or filing containing such information indicates that the information therein is to be considered "filed"
under the Exchange Act or is to be incorporated by reference in this Registration Statement.
Item
4. Description of Securities.
Not
applicable.
Item
5. Interests of Named Experts and Counsel.
Not
applicable.
I
-1
Item
6. Indemnification of Directors and Officers.
Our
Certificate of Incorporation, as may be further amended and restated and in effect from time to time, provides that our directors shall
not be personally liable to us or our stockholders for monetary damages for any breach of fiduciary duty as a director.
Under
the DGCL, our directors have a fiduciary duty to us that is not eliminated by this provision of our Certificate of Incorporation and,
in appropriate circumstances, equitable remedies such as injunctive or other forms of non-monetary relief will remain available. This
provision also does not affect our directors' responsibilities under any other laws, such as federal securities laws or state or
federal environmental laws.
Section
145 of the DGCL empowers a corporation to indemnify its directors and officers against expenses (including attorneys' fees), judgments,
fines, and amounts paid in settlements actually and reasonably incurred by them in connection with any action, suit, or proceeding brought
by third parties by reason of the fact that they were or are directors or officers of the corporation, if they acted in good faith, in
a manner they reasonably believed to be in or not opposed to the best interests of the corporation and, with respect to any criminal
action or proceeding, had no reasonable cause to believe that their conduct was unlawful. The DGCL provides further that the indemnification
permitted thereunder shall not be deemed exclusive of any other rights to which the directors and officers may be entitled under the
corporation's bylaws, any agreement, a vote of stockholders or otherwise. Our Bylaws provide that, to the fullest extent permitted
by the DGCL, we will indemnify any person who is or was a party or threatened to be made a party to any proceedings by the reason of
the fact that such person is or was a director or officer of us, or is or was serving at our request as a director, officer, or trustee
of another corporation, partnership, joint venture, trust, or other enterprise, against the expenses, judgments, fines, and amounts paid
in settlement actually and reasonably incurred in connection with such proceedings. Our Bylaws also provide that we will indemnify, to
the fullest extent permitted by the DGCL, we will indemnify any person who was or is a party or is threatened to be made a party to any
proceedings by or in our right to procure a judgment in our favor by reason of the fact that such person is or was a director or officer
of us, or is or was serving at our request as a director, officer, or trustee of another corporation, partnership, joint venture, trust,
or other enterprise, against the expenses, judgments, fines, and amounts paid in settlement actually and reasonably incurred in connection
with such proceedings.
In
addition, we have entered into agreements with one of our directors under which, among other things, we have agreed to indemnify such
director against expenses and damages in connection with claims to the fullest extent permitted by our Certificate of Incorporation,
our Bylaws, and the DGCL. At present, there is no pending litigation or proceeding involving such director as to which indemnification
will be required or permitted, and we are not aware of any threatened litigation or proceeding that may result in a claim for such indemnification.
Section
145 of the DGCL also empowers a corporation to purchase insurance for its officers and directors for such liabilities. We maintain liability
insurance for our officers and directors.
Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers, and controlling persons
pursuant to the foregoing provisions, or otherwise, we have been advised that in the opinion of the SEC such indemnification is against
public policy as expressed in the Securities Act and is, therefore, unenforceable.
Item
7. Exemption from Registration Claimed.
The
issuance of the Reoffer Prospectus Shares being offered by the Reoffer Prospectus were deemed to be exempt from registration under the
Securities Act in reliance upon Section 4(a)(2) of the Securities Act as transactions by an issuer not involving any public offering
for offers and sales to grantees pursuant to certain written compensatory benefit plans and contracts relating to compensation as provided
thereunder. The recipients of the securities in each of these transactions represented their intentions to acquire the securities for
investment only and not with a view to or for sale in connection with any distribution thereof, and appropriate legends were placed upon
shares issued in these transactions. All recipients had adequate access, through their relationships with us, to information about us.
2
Item
8. Exhibits.
Exhibit Number
Exhibit Description
3.1
Restated Certificate of Incorporation, which was filed as Exhibit 3.1 to our Registration Statement on Form 10-12G filed with the SEC on March 25, 2019, and is incorporated herein by reference thereto.
3.2
Bylaws, which were filed as Exhibit 3.2 to our Registration Statement on Form 10-12G filed with the SEC on February 19, 2019, and is incorporated herein by reference thereto.
3.3
Certificate of Ownership and Merger, as filed with the Secretary of State of Delaware on June 20, 2019, which was filed as Exhibit 3.1 to our Current Report on Form 8-K filed with the SEC on July 15, 2019, and is incorporated herein by reference thereto.
3.4
Certificate of Correction, as filed with the Secretary of State of the State of Delaware on July 15, 2019, which was filed as Exhibit 3.2 to our Current Report on Form 8-K filed with the SEC on July 15, 2019, and is incorporated herein by reference thereto.
3.5
Certificate of Designation of the Preferences, Rights, and Limitations of the Series A Preferred Stock, as filed with the Secretary of State of the State of Delaware on August 19, 2020, which was filed as Exhibit 3.1 to our Current Report on Form 8-K filed with the SEC on August 21, 2020, and is incorporated herein by reference thereto.
3.6
Certificate of Amendment to the Amended and Restated Certificate of Incorporation, effective July 20, 2021, which was filed as Exhibit 3.1 to our Current Report on Form 8-K filed with the SEC on July 20, 2021, and is incorporated herein by reference thereto.
4.1
Amended and Restated 2020 Stock and Incentive Compensation Plan, which was filed as Exhibit 10.1 to our Current Report on Form 8-K filed with the SEC on May 26, 2022, and is incorporated herein by reference thereto.
5.1*
Opinion of Baker & Hostetler LLP with respect to the legality of the Common Stock being registered.
23.1*
Consent of MaloneBailey, LLP, independent registered public accounting firm for the Company.
23.2*
Consent of Baker & Hostetler LLP (included in Exhibit 5.1 to this Registration Statement).
24.1*
Power of Attorney of certain officers and directors (included on the signature page to this Registration Statement).
107*
Filing Fee Table
* Filed herewith.
3
Item
9. Undertakings.
(a)
The undersigned Registrant
    hereby undertakes:
(1)
To file, during any period
    in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)
to include any prospectus
    required by Section 10(a)(3) of the Securities Act;
(ii)
to reflect in the prospectus
    any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment
    thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration
    Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of
    securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum
    offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) (§ 230.424(b) of
    this chapter) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering
    price set forth in the "Calculation of Registration Fee" table in the effective registration statement; and
(iii)
to include any material
    information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change
    to such information in this Registration Statement.
Provided,
however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment
by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section
15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.
(2)
That, for the purpose of
    determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement
    relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona
    fide offering thereof; and
(3)
To remove from registration
    by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b)
The undersigned Registrant
    hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's
    annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit
    plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this Registration
    Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
    securities at that time shall be deemed to be the initial bona fide offering thereof.
(c)
Insofar as indemnification
    for liabilities arising under the Securities Act 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 Commission such indemnification
    is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
    against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
    person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
    person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has
    been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by
    it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
4
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Grant, State of Florida on the 29
th
day of June, 2022.
KAIVAL BRANDS INNOVATIONS GROUP, INC.
By:
/s/ Eric Mosser
Name:
Eric Mosser
Title:
President and Chief Operating Officer
By:
/s/ Mark Thoenes
Name:
Mark Thoenes
Title:
Interim Chief Financial Officer
POWER
OF ATTORNEY
KNOW
ALL PERSONS BY THESE PRESENTS, that each of the undersigned constitutes and appoints each of Eric Moser and Mark Thoenes each acting
alone, their true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for such person and in
their name, place and stead, in any and all capacities, to sign this Registration Statement on Form S-8 and all post-effective amendments
thereto, of The Arena Group Holdings, Inc., and to file the same, with all exhibits thereto, and other document in connection therewith,
with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, each acting alone, full power and authority
to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and
purposes as he or she might or could do in person, hereby ratifying and confirming that any such attorney-in-fact and agent, or his or
her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities
and on the dates indicated.
Signature
Title of Capacities
Date
/s/ Eric Mosser
President, Chief Operating Officer, Director
June 29, 2022
Eric Mosser
(Principal Executive Officer)
/s/ Mark Thoenes
Interim Chief Financial Officer
June 29, 2022
Mark Thoenes
(Principal Financial Officer)
/s/ Paul Reuter
Director
June 29, 2022
Paul Reuter
/s/ Roger Brooks
Director
June 29, 2022
Roger Brooks
/s/ George Chuang
Director
June 29, 2022
George Chuang
/s/ Nirajkumar Patel
Director
June 29, 2022
Nirajkumar Patel
5